unit 10 virginia real estate Exam
Questions and Answers 100% Correct
License status must - ANSWER-be disclosed in the contract.
Disclosures must - ANSWER-always be made by the broker/brokerage whom the
licensee represents.
One acting as a dual or designated agent must receive in writing - ANSWER-the
consent of all clients to a transaction, at the earliest possible time.
Reason for Disciplinary Action - ANSWER-Not responding to a board inquiry within
21 days.
Failing to produce for the board documentation regarding a real estate transaction.
Failing to safeguard the public in one's work as a real estate licensee
As a broker or salesperson in Virginia, holding more than one license.
A written statement by anyone with a complaint against a licensee, for the alleged
violation of any real estate regulations - ANSWER-may be filed with the Virginia Real
Estate Board
If a consent order is not done, then the case goes on to a - ANSWER-formal hearing
Board decisions are subject to an - ANSWER-appeal
Disciplinary action may be taken against the licensee without - ANSWER-a review or
hearing
If he doesn't pay the assessment to the Transaction Recovery Fund, his license will
be - ANSWER-suspended automatically
If a payment has to be made from the Transaction Recovery Fund, his license will be
- ANSWER-revoked automatically
If a broker has full knowledge of wrong doings, the board has the power to -
ANSWER-fine any licensee, and to suspend or revoke any license issued under the
provisions of the regulations.
Actions constituting improper delivery of instruments include: - ANSWER-Failing to
make prompt delivery copies of any written disclosures.
Failing to provide in a timely manner written notice of any material changes to the
transaction.
Failing to deliver to the seller and buyer a complete and accurate statement of
receipts and disbursements of monies.
Questions and Answers 100% Correct
License status must - ANSWER-be disclosed in the contract.
Disclosures must - ANSWER-always be made by the broker/brokerage whom the
licensee represents.
One acting as a dual or designated agent must receive in writing - ANSWER-the
consent of all clients to a transaction, at the earliest possible time.
Reason for Disciplinary Action - ANSWER-Not responding to a board inquiry within
21 days.
Failing to produce for the board documentation regarding a real estate transaction.
Failing to safeguard the public in one's work as a real estate licensee
As a broker or salesperson in Virginia, holding more than one license.
A written statement by anyone with a complaint against a licensee, for the alleged
violation of any real estate regulations - ANSWER-may be filed with the Virginia Real
Estate Board
If a consent order is not done, then the case goes on to a - ANSWER-formal hearing
Board decisions are subject to an - ANSWER-appeal
Disciplinary action may be taken against the licensee without - ANSWER-a review or
hearing
If he doesn't pay the assessment to the Transaction Recovery Fund, his license will
be - ANSWER-suspended automatically
If a payment has to be made from the Transaction Recovery Fund, his license will be
- ANSWER-revoked automatically
If a broker has full knowledge of wrong doings, the board has the power to -
ANSWER-fine any licensee, and to suspend or revoke any license issued under the
provisions of the regulations.
Actions constituting improper delivery of instruments include: - ANSWER-Failing to
make prompt delivery copies of any written disclosures.
Failing to provide in a timely manner written notice of any material changes to the
transaction.
Failing to deliver to the seller and buyer a complete and accurate statement of
receipts and disbursements of monies.
