VIRGINIA REAL ESTATE LICENSE PRACTICE
SOLUTION 2026 SOLVED ITEMS CONFIRMED
A+
◉ How many employees does DPOR have? Answer: 200 employees.
◉ What is the primary function of DPOR regarding professional
credentials? Answer: DPOR issues licenses, certificates, or
registrations to ensure professionals meet minimum competency.
◉ What are the key functions of DPOR? Answer: Licensing and
Certification, Setting Standards, Enforcement, and addressing
Unlicensed Activity.
◉ What happens if a payment for a required fee is dishonored?
Answer: DPOR may suspend the license 10 days after notifying the
individual by certified mail.
◉ What is the Virginia Real Estate Board (VREB)? Answer: A
separate agency within DPOR responsible for regulating real estate
practices.
,◉ How many members are on the Virginia Real Estate Board?
Answer: Nine members: seven licensed brokers or salespersons and
two citizen members.
◉ What is the term length for members of the VREB? Answer: Four-
year terms.
◉ What authority does the VREB have? Answer: Rulemaking,
Licensing, Enforcement, and Education.
◉ What is the purpose of the residential property disclosure
statement form? Answer: To inform buyers of the condition of the
property and any known issues.
◉ What does the VREB administer related to customer/client
judgments? Answer: The Virginia Real Estate Transaction Recovery
Fund.
◉ What is one limitation of the VREB's authority? Answer: The
VREB cannot set commission rates; these are determined by mutual
agreement.
◉ What does 'Active Status' mean in Virginia real estate licensing?
Answer: A broker or salesperson legally engaging in regulated acts
of real estate brokerage.
,◉ What does 'Actively Engaged' refer to? Answer: A licensee engaged
at least 40 hours per week in regulated real estate activity.
◉ Who is considered an 'Applicant' in the context of real estate
licensing? Answer: One who applies to the Board for a real estate
license.
◉ What is the definition of an 'Associate Broker'? Answer: A licensed
broker other than the principal broker at a firm.
◉ What is a 'Client' in real estate terms? Answer: A person who has
entered into a brokerage relationship with a licensee.
◉ What constitutes a 'Firm' in real estate? Answer: A partnership,
association, corporation, or sole proprietorship engaged in real
estate sales.
◉ What does 'Inactive Status' mean for a real estate licensee?
Answer: A broker or salesperson not under supervision and
prohibited from performing brokerage acts.
◉ What is an 'Independent Contractor' in real estate? Answer: A
licensee who represents a client under a written contract, not as a
standard agent.
, ◉ What is a 'Licensee' in the context of Virginia real estate? Answer:
One who is licensed by the Board, including salespersons, brokers,
or firms.
◉ Who is the 'Principal Broker'? Answer: The designated broker
responsible for compliance and activities of the firm and its
licensees.
◉ Who is considered a principal to a real estate transaction?
Answer: A party to a transaction, including sellers, buyers, landlords,
tenants, optionors, or optionees.
◉ What is a sole proprietor in real estate? Answer: An individual
trading under their own name or an assumed name, not a
corporation or partnership.
◉ What is a standard agent? Answer: A licensee who acts for or
represents a client in an agency relationship.
◉ What is the role of a supervising broker? Answer: A broker
designated to supervise real estate brokerage services provided by
associate brokers and salespersons.
SOLUTION 2026 SOLVED ITEMS CONFIRMED
A+
◉ How many employees does DPOR have? Answer: 200 employees.
◉ What is the primary function of DPOR regarding professional
credentials? Answer: DPOR issues licenses, certificates, or
registrations to ensure professionals meet minimum competency.
◉ What are the key functions of DPOR? Answer: Licensing and
Certification, Setting Standards, Enforcement, and addressing
Unlicensed Activity.
◉ What happens if a payment for a required fee is dishonored?
Answer: DPOR may suspend the license 10 days after notifying the
individual by certified mail.
◉ What is the Virginia Real Estate Board (VREB)? Answer: A
separate agency within DPOR responsible for regulating real estate
practices.
,◉ How many members are on the Virginia Real Estate Board?
Answer: Nine members: seven licensed brokers or salespersons and
two citizen members.
◉ What is the term length for members of the VREB? Answer: Four-
year terms.
◉ What authority does the VREB have? Answer: Rulemaking,
Licensing, Enforcement, and Education.
◉ What is the purpose of the residential property disclosure
statement form? Answer: To inform buyers of the condition of the
property and any known issues.
◉ What does the VREB administer related to customer/client
judgments? Answer: The Virginia Real Estate Transaction Recovery
Fund.
◉ What is one limitation of the VREB's authority? Answer: The
VREB cannot set commission rates; these are determined by mutual
agreement.
◉ What does 'Active Status' mean in Virginia real estate licensing?
Answer: A broker or salesperson legally engaging in regulated acts
of real estate brokerage.
,◉ What does 'Actively Engaged' refer to? Answer: A licensee engaged
at least 40 hours per week in regulated real estate activity.
◉ Who is considered an 'Applicant' in the context of real estate
licensing? Answer: One who applies to the Board for a real estate
license.
◉ What is the definition of an 'Associate Broker'? Answer: A licensed
broker other than the principal broker at a firm.
◉ What is a 'Client' in real estate terms? Answer: A person who has
entered into a brokerage relationship with a licensee.
◉ What constitutes a 'Firm' in real estate? Answer: A partnership,
association, corporation, or sole proprietorship engaged in real
estate sales.
◉ What does 'Inactive Status' mean for a real estate licensee?
Answer: A broker or salesperson not under supervision and
prohibited from performing brokerage acts.
◉ What is an 'Independent Contractor' in real estate? Answer: A
licensee who represents a client under a written contract, not as a
standard agent.
, ◉ What is a 'Licensee' in the context of Virginia real estate? Answer:
One who is licensed by the Board, including salespersons, brokers,
or firms.
◉ Who is the 'Principal Broker'? Answer: The designated broker
responsible for compliance and activities of the firm and its
licensees.
◉ Who is considered a principal to a real estate transaction?
Answer: A party to a transaction, including sellers, buyers, landlords,
tenants, optionors, or optionees.
◉ What is a sole proprietor in real estate? Answer: An individual
trading under their own name or an assumed name, not a
corporation or partnership.
◉ What is a standard agent? Answer: A licensee who acts for or
represents a client in an agency relationship.
◉ What is the role of a supervising broker? Answer: A broker
designated to supervise real estate brokerage services provided by
associate brokers and salespersons.
