Psi Questions: State(Questions With
Correct Answers)
When ba bland bcontract bis bentered binto; b- bcorrect banswers✔✔The bbuyer bacquires
bequitable btitle
Angela boperated bher bown bbrokerage bfirm buntil bshe bunexpectedly bpassed baway.
bThe bBoard bappoints bher bson, bAdam, bto boperate bthe bbusiness bfor b180 bdays.
bDuring bthis bperiod, bAdam: b- bcorrect banswers✔✔Can bonly bconclude bthe
btransactions bin bthe bprocess bto bfacilitate bthe btermination bof bthe bbusiness
Which bperson bwould bNOT bneed ba breal bestate blicense? b- bcorrect banswers✔✔An
bowner bwho bsells bno bmore bthan bthree bof bher bown bhouses bin ba byear, ba bsalaried
bproperty bmanager bwho bis bemployed bto bmanage bthe bapartment band blease
bindividual bunits, band ban battorney bwho bis boffering breal bproperty bfor bsale bunder
bcourt border
Which bperson bwould brequire ba blicense, bissued bby bthe bReal bEstate bBoard? b-
bcorrect banswers✔✔An bemployee bof ba bbroker, bwho bnegotiates bleases
NOT bthe bexecutor bof ban bestate, ban bauctioneer, bor ban bindividual bemployed bby bthe
bowner bof brental bproperty
Which bperson bis bmost blikely brequired bto bhave ban bactive breal bestate blicense? b-
bcorrect banswers✔✔Independent bcontractors, bnegotiating bleases bon bbehalf bof
banother bfor ba bfee
The bact bof bbuying, bselling, bor bleasing breal bestate bon bbehalf bof banother band bfor
bcompensation bis ban bact bof breal bestate bbrokerage. bTherefore, ba blicense bis
brequired bUNLESS bthere's ban bapplicable bexemption. bVirginia bLicense bLaw
bspecifies bthat bsalaried brental bproperty bpersonnel bmay bshow bunits, bprovide bfacts,
band baccept bapplications band bsecurity bdeposits bwithout ba breal bestate blicense.
bSimilarly, bpersons bselling bproperty bunder ba bcourt border bcan bdo bso bwithout ba breal
, bestate blicense. bLicensed bauctioneers bmay bauction breal bestate bif bthey bare
bemployed bby bthe bowner band bthe bbidding bis bopen bfor bno blonger bthan b48 bhours.
bHowever, ban bindependent bcontractor bpaid bto bnegotiate ba blease bon bbehalf bof
banother bmust bbe blicensed.
Under bthe bbroker's bsupervision, bhis bunlicensed bassistant bmay: b- bcorrect
banswers✔✔Prepare band bfile bpapers bfor btenant beviction bfor bnon-payment bof brent
An bunlicensed bassistant bcan bNOT btake blistings bover bthe bphone, bgive badditional
binformation bto bcallers babout blistings, bor brent bapartments bfor ba bsmall bfee.
The breal bestate blicense bof bany bperson bor bfirm bmay bbe brevoked bby bwhich bof bthe
bfollowing bentities? b- bcorrect banswers✔✔The bVirginia bReal bEstate bBoard
Susan bcurrently bowns ba bhouse bin bVirginia, bbut bis blooking bto bmove bto bTexas bthis
bsummer. bSusan bdecides bto bsell bher bown bhouse. bUnder bthe bcircumstances, bwhich
bof bthe bfollowing bstatements bis btrue? b- bcorrect banswers✔✔She bdoes bnot bneed ba
breal bestate blicense bto bsell bher bown bhouse b
In bVirginia, byou bmust bbe blicensed bif, bON bBEHALF bOF bANOTHER bPERSON band
bfor ba bfee, byou bperform ba bregulated bact bof breal bestate. bA bperson bdoes bnot bneed
ba blicense bto bsell bher bown bproperty.
When ba breal bestate blicense bhas bexpired, bwhen bcan ba bperson breinstate bhis blicense
bwithout bmonetary bpenalty? b- bcorrect banswers✔✔Within b30 bdays
Licensees bmust brenew btheir blicense bBEFORE bit bexpires. bLicensees bmay breinstate
btheir blicense bwithin b30 bdays bby bpaying bthe bregular brenewal bfee b(no badditional
bpenalty). bAfterwards, blicensees bmust bpay ba breinstatement bfee b(Day b31 bto b1 byr)
bor bre-apply bfor binitial blicense bif bnot breinstated bin ba btimely bmanner b(more bthan b1
byr).
Which bof bthe bfollowing bstatements bis bcorrect bif ba blicensee bis bleasing bhis bown
bproperty, bwithout bhelp bfrom ba bbroker? b- bcorrect banswers✔✔The blicensee bmay bbe
bexempt bfrom bthe bVirginia bLandlord bTenant bAct
If bthe blicensee bqualifies, bhe bmay bbe bexempt bfrom bthe bLandlord bTenant bAct b(like
bany bother bcitizen bof bthe bstate).
By bVirginia bdefinitions, bwhich bperson brequires ba breal bestate blicense?
Select bone:
A. bAn battorney-at-law
B. bAn bauctioneer
C. bAn bappraiser
D. bNone bof bthe babove b- bcorrect banswers✔✔None bof bthe babove
Correct Answers)
When ba bland bcontract bis bentered binto; b- bcorrect banswers✔✔The bbuyer bacquires
bequitable btitle
Angela boperated bher bown bbrokerage bfirm buntil bshe bunexpectedly bpassed baway.
bThe bBoard bappoints bher bson, bAdam, bto boperate bthe bbusiness bfor b180 bdays.
bDuring bthis bperiod, bAdam: b- bcorrect banswers✔✔Can bonly bconclude bthe
btransactions bin bthe bprocess bto bfacilitate bthe btermination bof bthe bbusiness
Which bperson bwould bNOT bneed ba breal bestate blicense? b- bcorrect banswers✔✔An
bowner bwho bsells bno bmore bthan bthree bof bher bown bhouses bin ba byear, ba bsalaried
bproperty bmanager bwho bis bemployed bto bmanage bthe bapartment band blease
bindividual bunits, band ban battorney bwho bis boffering breal bproperty bfor bsale bunder
bcourt border
Which bperson bwould brequire ba blicense, bissued bby bthe bReal bEstate bBoard? b-
bcorrect banswers✔✔An bemployee bof ba bbroker, bwho bnegotiates bleases
NOT bthe bexecutor bof ban bestate, ban bauctioneer, bor ban bindividual bemployed bby bthe
bowner bof brental bproperty
Which bperson bis bmost blikely brequired bto bhave ban bactive breal bestate blicense? b-
bcorrect banswers✔✔Independent bcontractors, bnegotiating bleases bon bbehalf bof
banother bfor ba bfee
The bact bof bbuying, bselling, bor bleasing breal bestate bon bbehalf bof banother band bfor
bcompensation bis ban bact bof breal bestate bbrokerage. bTherefore, ba blicense bis
brequired bUNLESS bthere's ban bapplicable bexemption. bVirginia bLicense bLaw
bspecifies bthat bsalaried brental bproperty bpersonnel bmay bshow bunits, bprovide bfacts,
band baccept bapplications band bsecurity bdeposits bwithout ba breal bestate blicense.
bSimilarly, bpersons bselling bproperty bunder ba bcourt border bcan bdo bso bwithout ba breal
, bestate blicense. bLicensed bauctioneers bmay bauction breal bestate bif bthey bare
bemployed bby bthe bowner band bthe bbidding bis bopen bfor bno blonger bthan b48 bhours.
bHowever, ban bindependent bcontractor bpaid bto bnegotiate ba blease bon bbehalf bof
banother bmust bbe blicensed.
Under bthe bbroker's bsupervision, bhis bunlicensed bassistant bmay: b- bcorrect
banswers✔✔Prepare band bfile bpapers bfor btenant beviction bfor bnon-payment bof brent
An bunlicensed bassistant bcan bNOT btake blistings bover bthe bphone, bgive badditional
binformation bto bcallers babout blistings, bor brent bapartments bfor ba bsmall bfee.
The breal bestate blicense bof bany bperson bor bfirm bmay bbe brevoked bby bwhich bof bthe
bfollowing bentities? b- bcorrect banswers✔✔The bVirginia bReal bEstate bBoard
Susan bcurrently bowns ba bhouse bin bVirginia, bbut bis blooking bto bmove bto bTexas bthis
bsummer. bSusan bdecides bto bsell bher bown bhouse. bUnder bthe bcircumstances, bwhich
bof bthe bfollowing bstatements bis btrue? b- bcorrect banswers✔✔She bdoes bnot bneed ba
breal bestate blicense bto bsell bher bown bhouse b
In bVirginia, byou bmust bbe blicensed bif, bON bBEHALF bOF bANOTHER bPERSON band
bfor ba bfee, byou bperform ba bregulated bact bof breal bestate. bA bperson bdoes bnot bneed
ba blicense bto bsell bher bown bproperty.
When ba breal bestate blicense bhas bexpired, bwhen bcan ba bperson breinstate bhis blicense
bwithout bmonetary bpenalty? b- bcorrect banswers✔✔Within b30 bdays
Licensees bmust brenew btheir blicense bBEFORE bit bexpires. bLicensees bmay breinstate
btheir blicense bwithin b30 bdays bby bpaying bthe bregular brenewal bfee b(no badditional
bpenalty). bAfterwards, blicensees bmust bpay ba breinstatement bfee b(Day b31 bto b1 byr)
bor bre-apply bfor binitial blicense bif bnot breinstated bin ba btimely bmanner b(more bthan b1
byr).
Which bof bthe bfollowing bstatements bis bcorrect bif ba blicensee bis bleasing bhis bown
bproperty, bwithout bhelp bfrom ba bbroker? b- bcorrect banswers✔✔The blicensee bmay bbe
bexempt bfrom bthe bVirginia bLandlord bTenant bAct
If bthe blicensee bqualifies, bhe bmay bbe bexempt bfrom bthe bLandlord bTenant bAct b(like
bany bother bcitizen bof bthe bstate).
By bVirginia bdefinitions, bwhich bperson brequires ba breal bestate blicense?
Select bone:
A. bAn battorney-at-law
B. bAn bauctioneer
C. bAn bappraiser
D. bNone bof bthe babove b- bcorrect banswers✔✔None bof bthe babove
