Virginia Real Estate Exam Prep, VA Questions & Answers 100% Correct(RATED A)

VREB Stands For - ANSWER-Virginia Real Estate Board 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 Virginia Real Estate Exam Prep, VA Questions & Answers 100% Correct(RATED A)