VA Real Estate Final Exam Questions and Answers 100% Pass

VA Real Estate Final Exam Questions and Answers 100% Pass According to the VRLTA, a copy of the written rental agreement must be provided to the tenant within ______________ of the agreement's effective date. One month In Virginia, a landlord must provide a copy of the written rental agreement. When must this be provided? Within one month of the agreement's effective date Which of the following is a task that a licensee could perform for a customer in a transaction? Providing the opposing party with signed copies of paperwork Erin, a contractor and licensee, is selling one of a group of homes she built this year. Which of the following is true about her disclosure responsibilities? Erin only needs to disclose any known defects that are considered building code violations. According to the disclosure statement, what is a seller's disclosure obligation if a sex offender lives near their property? The seller makes no representations. Under which of the following circumstances can a buyer agency agreement be terminated in Virginia? If the buyer and agent both agree in writing to end the agreement. In Virginia, in what form can a buyer pay earnest money? Cash, check, bank letter of credit, or promissory note A Virginia resident has worked with the Virginia Housing Development Authority on their first home purchase. The purchase is being secured by a deed of trust. Who are the parties involved? Trustee, trustor, beneficiary Why does a designated agency relationship require a disclosure signed by both parties? Because although each party is represented by a different licensee, all brokerage agreements are in the broker's name. Consumers must be made aware of this. In Virginia, landlords may amend a rental agreement if ______. The landlord and tenant agree to the changes The Real Estate Board has issued a charge of discrimination against a real estate licensee in Virginia. What should the licensee expect to happen next? The charge will be referred to the Attorney General's office What is the general purpose of a POA? Make and enforce rules for the properties in its jurisdiction Which of the following is true about a broker's recordkeeping responsibilities? Brokers must keep records of signed dual agency consent forms for three years. You should ______ before you affiliate with a broker. Ask lots of questions A timeshare owner has decided to sell her share, and has found a buyer. What does she need to provide to the buyer? A Certificate of Resale Identify which of these actions is a prohibited activity for a real estate licensee in Virginia. Increasing the rent and security deposit for a family with seven children. Which of these statements about septic systems and disclosure are true? Septic systems that don't involve additional maintenance requirements and a waiver don't have to be disclosed. When does a dual agency disclosure need to be provided? Prior to a dual agency situation occurring What Virginia regulatory authority protects wetlands through t