Virginia psi exam prep by performance programs company Questions 100% Solved!!

What is the purpose of Chapter 21 in the Virginia code? - ANSWERTo present license requirements brokerage relationships and Real Estate Board authorizations Delaney is licensed under a real estate firm and legally performs real estate activities for an average of at least 40 hours a week. What term would she properly be called? - ANSWERActively engaged salesperson Josh hired an unlicensed assistant what activities can the assistant participate in? - ANSWERCompute commission checks How long does a license have to reinstate her license after it expires - ANSWER30 Calendar days If an aggrieved party's claim is related to a single transaction with only one claimant and one licensee what is the maximum payment that can be granted from the Recovery Fund? - ANSWER20,000 Rick wants to file a complaint with the DPOR against a licensee for allegedly violating a license law statute. How much time does he have to file a complaint? - ANSWER3 years What is the name of a license issued by the board to brokers active in more than one firm at the same time? - ANSWERConcurrent license What best characterizes the mission of the Virginia Real Estate Board? - ANSWERTo certify and license practitioners and to enforce laws with rules and regulations What happens if a licensee fails to provide a lead paint disclosure to buyers or tenants? - ANSWERThe licensee can face a civil penalty up to $10,000 for each violation Bill wants to apply for his brokers license. How long must he be actively engaged in real estate before applying? - ANSWER40 hours a week for 36 months of the 48 months prior to applying How many hours post license education are required within the first year of licensure - ANSWER30 hours Kelly got her salesperson license on September 20,2019 when does her license expire? - ANSWERSeptember 30, 2021 What is a busin