Virginia Real Estate Board Exam Questions With complete Solution

Members of the Real Estate Board are appointed by: - ANSWER-the governor Time period a complainant has to submit concerning a fair housing violation is: - ANSWER-1 year from occurrence Fees for issuing, renewing and reinstating are determined by: - ANSWER-The Real Estate Board (REB). Prior to a sales contract being signed by a purchaser in VA, a salesperson must provide: - ANSWER-An agency disclosure. Which of the following does Not govern how agency is handled in VA? - ANSWER-Common law. Division of fees is permitted: - ANSWER-Between brokers. In VA, a lessor cannot restrict a handicapped tenant: - ANSWER-From making reasonable modifications at lessee's expense. After an agency relationship ends, what does the licensee will owe to the client? - ANSWER-keep confidential all personal information learned during the relationship. If a licensee fails to provide a termination date within a listing agreement: - ANSWER-The statutory termination date of 90 days applies. If a broker changes the address of their principal office: - ANSWER-He/she has 30 days to submit notice of the change to the REB.