The purpose of the VA real estate license law and Board related rules and regulations is to... - ANSWER A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? - ANSWER 4. Activate with a VA licensed broker.
Protect the public interest
Two ...
A nonresident who obtains a license as an active salesperson in VA is required to do which of the
following? - ANSWER 4. Activate with a VA licensed broker.
The purpose of the VA real estate license law and Board related rules and regulations is to... - ANSWER
Protect the public interest
Two brokers are involved in a dispute over a commission split. Which of the following could become
involved in the settlement dispute? - ANSWER A court having jurisdiction over the brokers.
If the Board receives a written complaint regarding the actions of a regulant, what is the first thing the
Board will do? - ANSWER Review the complaint for possible violation
Which of the following is true regarding a branch office of a VA real estate firm? - ANSWER The office
must have a separate license.
An unlicensed investor plans to open a real estate brokerage business. The business will be operated as a
sole proprietorship. Which of the following is true? - ANSWER The investor must hire a broker to manage
the business.
The objective of the Virginia Fair Housing Law is to... - ANSWER Protect and ensure the welfare of the
general public
When a salesperson terminates affiliation with a broker, what is the salesperson required to do? -
ANSWER Nothing
A licensee who is actively engaged in real estate brokerage works at least.. - ANSWER 40 hours per week
, When a real estate license has expired how long does the licensee have to reinstate the license, without
monetary penalty? - ANSWER 30 days
If a broker opens a branch office in VA, which of the following is true? - ANSWER Upon proper
application, the Board will issue a license for the Branch.
Sally decides to transfer from ABC Realty to XYZ Realty. What must Sally do to affect the transfer of her
license? - ANSWER Submit to the Board a transfer application, certified by XYZ Realty
The broker must return to the Board the license of any active licensee in all of the following situations
except - ANSWER A licensee refuses to hold an open house
When the Board issues an active license, the license... - ANSWER Must be made available to the public at
the broker's main place of business
Once a listing agreement is obtained from a seller and is accepted by the broker, an agency relationship
is created between... - ANSWER The seller and the broker
A licensed real estate salesperson may receive money or other valuable consideration for services
rendered in connection with property management from... - ANSWER His or her employing broker
When a broker places a "For Sale" sign on property, what must appear on the sign? - ANSWER The firms
license name
The minimum balance of the Virginia Real Estate Transaction Recovery Fund is... - ANSWER $400,000
When are real estate licenses renewed? - ANSWER Every 2 years on the last day of the month in which
they were issued
Ed, a licensed salesperson, moved to a new home. What is Ed required to do? - ANSWER Advise the
Board in writing within 30 calendar days of the change
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller shantelleG. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
