ESCROW EXAM PREP QUESTIONS AND
ANSWERS 2026 PRACTICE SOLUTION
VERIFIED RESULTS
◉ Title 54.1, Chapter 21 of the Code of Virginia Defines
Answer: the composition and authority of the Virginia Real Estate
Board; Also sets for the requirements for licensure, defines the
duties a licensee must perform, how those duties must be performed
and what happens when if the licensee breaches those duties
◉ How many meetings does the VREB hold a year?
Answer: 8 meetings per year
◉ Members of the VREB serve a term of what length?
Answer: 4 Years
◉ Can members of the VREB be appointed an additional term? If so,
how long?
Answer: Yes, they may be appointed to an additional 4 year term
◉ How many members are there in the VREB and who appoints
these members?
,Answer: There are 9 members appointed by the Governor
◉ There are ________ members who are licensed real estate
professionals and ________ members who are non-licensed citizens.
Answer: 7 & 2
◉ How many years of experience must licensed real estate
professionals have in order to be appointed to the VREB?
Answer: 5 years of practicing experience
◉ The Virginia Administrative Code, Title 18, Agency 125 describes...
Answer: how the VREB must carry out its duties
◉ The VREB is responsible for...
Answer: -Licensing of real estate professionals and brokers.
-Setting standards of licensure and professional conduct
-Administration of the Virginia Real Estate Recovery Fund
-Enforcement of the Real Estate Settlement's Agent Act
-Regulation and Enforcement of Virginia's Fair Housing Laws
-Development of residential property disclosure statement for use
according to existing laws
,◉ How is the VREB Chairperson Elected?
Answer: Members elect their own chairperson
◉ A salesperson or associate broker may perform as a real estate
broker only when...
Answer: associated with a supervising broker
◉ A broker may work independently, but a salesperson or associate
broker must
Answer: work supervised by a broker
◉ A broker is responsible for
Answer: the supervision of salespersons and associate brokers who
work for the broker,
maintaining a place of business,
displaying the licensed name of the brokerage which must include
the words Real Estate, Realty or the name of a recognized
organization of real estate professionals, and notifying the VERB of
any changes to the address or name of the brokerage within 30 days
of the change
◉ An associate broker is
Answer: a licensed broker who may perform the acts of a broker but
chooses to work under a supervising broker
, ◉ A broker may be a person or...
Answer: an entity, such as a corporation
◉ Broker license applicants must have had their salesperson's
license and been active in real estate for at least...
Answer: 3 to 4 years
◉ Broker applicants must complete a _______ hour licensing course
and pass the broker exam
Answer: 180
◉ Salesperson applicants must have completed a ______ hour pre-
licensing course and pass the licensing exam
Answer: 60
◉ Real estate salespersons must be at least _____ years old
Answer: 18
◉ For a real estate salesperson to apply for licensing by
reciprocation in the state of Virginia they must have been active in
real estate for ______ of the last _____ months.
Answer: 36 of the last 48 months
ANSWERS 2026 PRACTICE SOLUTION
VERIFIED RESULTS
◉ Title 54.1, Chapter 21 of the Code of Virginia Defines
Answer: the composition and authority of the Virginia Real Estate
Board; Also sets for the requirements for licensure, defines the
duties a licensee must perform, how those duties must be performed
and what happens when if the licensee breaches those duties
◉ How many meetings does the VREB hold a year?
Answer: 8 meetings per year
◉ Members of the VREB serve a term of what length?
Answer: 4 Years
◉ Can members of the VREB be appointed an additional term? If so,
how long?
Answer: Yes, they may be appointed to an additional 4 year term
◉ How many members are there in the VREB and who appoints
these members?
,Answer: There are 9 members appointed by the Governor
◉ There are ________ members who are licensed real estate
professionals and ________ members who are non-licensed citizens.
Answer: 7 & 2
◉ How many years of experience must licensed real estate
professionals have in order to be appointed to the VREB?
Answer: 5 years of practicing experience
◉ The Virginia Administrative Code, Title 18, Agency 125 describes...
Answer: how the VREB must carry out its duties
◉ The VREB is responsible for...
Answer: -Licensing of real estate professionals and brokers.
-Setting standards of licensure and professional conduct
-Administration of the Virginia Real Estate Recovery Fund
-Enforcement of the Real Estate Settlement's Agent Act
-Regulation and Enforcement of Virginia's Fair Housing Laws
-Development of residential property disclosure statement for use
according to existing laws
,◉ How is the VREB Chairperson Elected?
Answer: Members elect their own chairperson
◉ A salesperson or associate broker may perform as a real estate
broker only when...
Answer: associated with a supervising broker
◉ A broker may work independently, but a salesperson or associate
broker must
Answer: work supervised by a broker
◉ A broker is responsible for
Answer: the supervision of salespersons and associate brokers who
work for the broker,
maintaining a place of business,
displaying the licensed name of the brokerage which must include
the words Real Estate, Realty or the name of a recognized
organization of real estate professionals, and notifying the VERB of
any changes to the address or name of the brokerage within 30 days
of the change
◉ An associate broker is
Answer: a licensed broker who may perform the acts of a broker but
chooses to work under a supervising broker
, ◉ A broker may be a person or...
Answer: an entity, such as a corporation
◉ Broker license applicants must have had their salesperson's
license and been active in real estate for at least...
Answer: 3 to 4 years
◉ Broker applicants must complete a _______ hour licensing course
and pass the broker exam
Answer: 180
◉ Salesperson applicants must have completed a ______ hour pre-
licensing course and pass the licensing exam
Answer: 60
◉ Real estate salespersons must be at least _____ years old
Answer: 18
◉ For a real estate salesperson to apply for licensing by
reciprocation in the state of Virginia they must have been active in
real estate for ______ of the last _____ months.
Answer: 36 of the last 48 months
