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RATED. b
Which regulation defines the duties and responsibilities of real estate professionals? - CORRECT
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ANSWER -Code of Virginia Title 54.1 Chapter 21
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What is defined in VAC Title 18, Agency 135, Chapter 20? - CORRECT ANSWER - The
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Virginia Real Estate Board's licensing regulations
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What is the VREB authorized to do? - CORRECT ANSWER -
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et requirements and standards of conduct for real estate licensees as well as enforce Virginia's real
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estate laws
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How do you become a member of the Virginia Real Estate Board? - CORRECT ANSWER - Get
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appointed by the governor
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Broker - CORRECT ANSWER - b b b b
holds a license and is any person, partnership, association, or corporation who, for another, an d
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for compensation of any kind, negotiates any form of real estate transaction
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Amanda helps her neighbor sell his home by assisting with negotiations. She receives no comp
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ensation for her assistance. Based on this one transaction, Amanda
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CORRECT ANSWER -Doesn't need a real estate license b b b b b b b
Sarah and Jim both have their broker's licenses and want to start a business together. What do they
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need in order to get started? - CORRECT ANSWER -A separate firm license
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Which of the following can hold a broker's license? - CORRECT ANSWER -A person or an entity
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, Tom is an unlicensed individual helping his sister, Katie, find a new house, in return for a trip to Europe.
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Which of the following activities can Tom legally perform? - CORRECT ANSWER -
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He can search real estate sites and resources to find available homes in the area.
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Jerry has completed 170 hours of online education and he has two years' experience as a real
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estate salesperson. He's wondering about the possibility of getting another license. What shoul d
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you tell him? - CORRECT ANSWER -
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"You could apply to be a broker after one more year of experience and 10 more education hou rs."
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Denise is ready to apply for her salesperson's license. Which of the following facts, if any, could
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disqualify her? - CORRECT ANSWER -She's 17.
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A person performing real estate activities under the judgment or order of a court, such as a tru stee
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in a bankruptcy, is
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An exception to the real estate licensing requirement
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John is 18 and he wants to be a real estate broker in Virginia. He is ready to complete the 180 hours
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of required real estate licensing coursework. Is there anything that might prevent him fr om doing
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this? - CORRECT ANSWER -Yes -
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he must have at least three years of experience as a Virginia salesperson before he can becom e a
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broker.
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Consuela is a real estate licensee, and she has three other licensees working under her supervi sion.
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What type of license does Consuela hold? - CORRECT ANSWER -Broker
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In Virginia, how many hours of approved real estate courses must an individual complete befor e
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taking the real estate salesperson exam? - CORRECT ANSWER -60
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If Gus has the kind of license that requires 16 hours of continuing education, what else is true
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about his situation? - CORRECT ANSWER -has to affiliate with a licensed broker.
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