5/6/25, 7:23 PM Virginia License Law | Quizlet
Name: Score:
40 Multiple choice questions
Term 1 of 40
broker smith lists a property and finds that zoning will have an adverse impact on the property.
this information is given by broker smith to broker jones who tells a prospective purchaser and as
a result, no sale is made. which of the following is true in this situation?
A. broker smith is in violation of the law for giving the information to broker jones
B. Broker jones is in violation the law for giving the information to the prospective purchaser
C. Both Brokers are in violation of the law
D. neither broker is in violation of the law
C. be kept for three years from date of closing
C. inform both the seller and the buyer
D. neither broker is in violation of the law
B. in the principal broker's main office
Term 2 of 40
requirements for a broker's license include which of the following?
A. be a college graduate
B. complete 100 hours of broker required courses
C. complete 12 semester hours of broker required courses
D. having been actively engaged as a licensee for 40 of the previous 48 months
C. complete 12 semester hours of broker required courses
A. file an irrevocable consent to suits and services
D. establish standard listing and sales contract agreements
D. copies need not be provided to the seller
https://quizlet.com/543213372/test?answerTermSides=6&promptTermSides=6&questionCount=40&questionTypes=4&showImages=true 1/20
,5/6/25, 7:23 PM Virginia License Law | Quizlet
Term 3 of 40
a broker may remove commissions from his/her escrow account under which of the following
circumstances?
A. when the buyer occupies the property
B. when settlement is completed
C. when the seller agrees
D. all of the above
B. when settlement is complete
B. accept a commission from another broker
C. net listing
C. open an escrow or trust account
Term 4 of 40
an applicant for licensure in Virginia was convicted of forgery in Florida 3 years prior to his date
of application. he could do all of the following EXCEPT:
A. be granted a license in Virginia if he meets all other requirements
B. apply for licensure in two years
C. be eligible with a release from the courts in Florida
D. be licensed immediately
D. Refusing to show property to an unqualified purchaser
A. file an irrevocable consent to suits and services
C. be eligible with a release from the courts in Florida
C. inform both the seller and the buyer
https://quizlet.com/543213372/test?answerTermSides=6&promptTermSides=6&questionCount=40&questionTypes=4&showImages=true 2/20
, 5/6/25, 7:23 PM Virginia License Law | Quizlet
Term 5 of 40
if a purchaser properly rescinds an offer to purchase a time-share, the amount and timing of the
refund is:
A. all, within 45 days
B. all, less a $200 processing fee, in 30 days
C. all, in 10 days
D. none
D. amount of commission
A. all, within 45 days
C. selling price of the listing
D. all of the above
Term 6 of 40
a licensee who's license has expired within the last 30 days must do which of the following to
become actively licensed?
A. pass a written exam
B. Send in a form and appropriate fees
C. meet the current educational requirements
D. pay a penalty fee
C. open an escrow or trust account
D. a partner in a Real Estate Firm
D. none of the above
B. send in a form and appropriate fees
https://quizlet.com/543213372/test?answerTermSides=6&promptTermSides=6&questionCount=40&questionTypes=4&showImages=true 3/20
Name: Score:
40 Multiple choice questions
Term 1 of 40
broker smith lists a property and finds that zoning will have an adverse impact on the property.
this information is given by broker smith to broker jones who tells a prospective purchaser and as
a result, no sale is made. which of the following is true in this situation?
A. broker smith is in violation of the law for giving the information to broker jones
B. Broker jones is in violation the law for giving the information to the prospective purchaser
C. Both Brokers are in violation of the law
D. neither broker is in violation of the law
C. be kept for three years from date of closing
C. inform both the seller and the buyer
D. neither broker is in violation of the law
B. in the principal broker's main office
Term 2 of 40
requirements for a broker's license include which of the following?
A. be a college graduate
B. complete 100 hours of broker required courses
C. complete 12 semester hours of broker required courses
D. having been actively engaged as a licensee for 40 of the previous 48 months
C. complete 12 semester hours of broker required courses
A. file an irrevocable consent to suits and services
D. establish standard listing and sales contract agreements
D. copies need not be provided to the seller
https://quizlet.com/543213372/test?answerTermSides=6&promptTermSides=6&questionCount=40&questionTypes=4&showImages=true 1/20
,5/6/25, 7:23 PM Virginia License Law | Quizlet
Term 3 of 40
a broker may remove commissions from his/her escrow account under which of the following
circumstances?
A. when the buyer occupies the property
B. when settlement is completed
C. when the seller agrees
D. all of the above
B. when settlement is complete
B. accept a commission from another broker
C. net listing
C. open an escrow or trust account
Term 4 of 40
an applicant for licensure in Virginia was convicted of forgery in Florida 3 years prior to his date
of application. he could do all of the following EXCEPT:
A. be granted a license in Virginia if he meets all other requirements
B. apply for licensure in two years
C. be eligible with a release from the courts in Florida
D. be licensed immediately
D. Refusing to show property to an unqualified purchaser
A. file an irrevocable consent to suits and services
C. be eligible with a release from the courts in Florida
C. inform both the seller and the buyer
https://quizlet.com/543213372/test?answerTermSides=6&promptTermSides=6&questionCount=40&questionTypes=4&showImages=true 2/20
, 5/6/25, 7:23 PM Virginia License Law | Quizlet
Term 5 of 40
if a purchaser properly rescinds an offer to purchase a time-share, the amount and timing of the
refund is:
A. all, within 45 days
B. all, less a $200 processing fee, in 30 days
C. all, in 10 days
D. none
D. amount of commission
A. all, within 45 days
C. selling price of the listing
D. all of the above
Term 6 of 40
a licensee who's license has expired within the last 30 days must do which of the following to
become actively licensed?
A. pass a written exam
B. Send in a form and appropriate fees
C. meet the current educational requirements
D. pay a penalty fee
C. open an escrow or trust account
D. a partner in a Real Estate Firm
D. none of the above
B. send in a form and appropriate fees
https://quizlet.com/543213372/test?answerTermSides=6&promptTermSides=6&questionCount=40&questionTypes=4&showImages=true 3/20
