Moseley Real Estate,Practice
Questions: VA Law and Regulations
Ben and Jerry are communicating for the primary time via instantaneous messages. Ben is a
licensee and Jerry is inquisitive about finding assets in Ben's area. Ben recommend that he can
be able to assist. Which of the subsequent disclosures must Ben make?
1) Ben should disclose his frim name and complete deal with
2) Ben ought to expose his person name
3) Ben have to expose his email deal with
four) Ben isn't requiered to make any disclosures due to the fact on the spot messages aren't
advertisements - ANS-Ben need to expose his frim call and entire deal with
Every Virginia licensed broking who's also a Virginia resident MUST:
1) hold an office within the kingdom of Virginia
2) maintain an escrow account in an insured depository within the nation
3) pick out his place of job with the right sign
4) all the above - ANS-keep an office inside the state of Virginia
Gene, an independent broker, lists a belongings. Susan, additionally an unbiased broking, sells
the assets. Gene concurs to break up the fee with Susan, but advises neither the sellor nor the
customer of the settlement. According to Virginia regulaitons:
1) Susan is guilty of accepting money from someone aside from her employing broking
2) the seller ought to be informed of the sort of fee, prior to the signing the listing agreement
three) neither susan nor Gene is in violation of the law
five) Gene is guilty of paying valuble attention to any other birthday party, thereby creating a twin
enterprise - ANS-the seller need to be knowledgeable of this kind of payment, previous to the
signing the listing settlement
If a broker gets a diposit for escrow, his managing of the deposit would be in violation of Virginia
License Regulations if he:
1) obtains permission from all events concerned inside the transaction to have the hobby
earned on the deposit credidted to his non-public account
2) locations the cash in a non-hobby bearing account
3) does now not endorse the principals exactly how the interest earned on the deposit may be
allotted
Questions: VA Law and Regulations
Ben and Jerry are communicating for the primary time via instantaneous messages. Ben is a
licensee and Jerry is inquisitive about finding assets in Ben's area. Ben recommend that he can
be able to assist. Which of the subsequent disclosures must Ben make?
1) Ben should disclose his frim name and complete deal with
2) Ben ought to expose his person name
3) Ben have to expose his email deal with
four) Ben isn't requiered to make any disclosures due to the fact on the spot messages aren't
advertisements - ANS-Ben need to expose his frim call and entire deal with
Every Virginia licensed broking who's also a Virginia resident MUST:
1) hold an office within the kingdom of Virginia
2) maintain an escrow account in an insured depository within the nation
3) pick out his place of job with the right sign
4) all the above - ANS-keep an office inside the state of Virginia
Gene, an independent broker, lists a belongings. Susan, additionally an unbiased broking, sells
the assets. Gene concurs to break up the fee with Susan, but advises neither the sellor nor the
customer of the settlement. According to Virginia regulaitons:
1) Susan is guilty of accepting money from someone aside from her employing broking
2) the seller ought to be informed of the sort of fee, prior to the signing the listing agreement
three) neither susan nor Gene is in violation of the law
five) Gene is guilty of paying valuble attention to any other birthday party, thereby creating a twin
enterprise - ANS-the seller need to be knowledgeable of this kind of payment, previous to the
signing the listing settlement
If a broker gets a diposit for escrow, his managing of the deposit would be in violation of Virginia
License Regulations if he:
1) obtains permission from all events concerned inside the transaction to have the hobby
earned on the deposit credidted to his non-public account
2) locations the cash in a non-hobby bearing account
3) does now not endorse the principals exactly how the interest earned on the deposit may be
allotted
