VA Real Estate Exam Questions and
Answers 100% Solved
The tax base in a jurisdiction is derived by subtracting exemptions from - ANSWER-
assessed values
A developer put two lots together and sold them as one large lot. The increase in
value is referred to as: - ANSWER-plottage
A 20-unit apartment building rented for $750 per month. The annual gross income
multiplier was 9. What is the value of the property? - ANSWER-1,620,000
he Virginia Real Estate Board is composed of _______ members who have been
licensed real estate brokers or salespersons for at least ____ consecutive years and
____ citizen members - ANSWER-7
5
2
The terms of VA Real Estate Board members are ____ years in length - ANSWER-4
Who administers?
The Virginia Fair Housing, Condominium and Time-Share Act
Common Interest Community Management Information Fund
The Virginia Transaction Recovery Fund - ANSWER-VA Real estate board
Which 3 does the VA board NOT do?
-Handle disputes between salespeople and brokers or between brokers.
-Standardize any other forms used in real estate practice.
-Establish commission rates or splits.
-Prescribes standards for licensure and for professional conduct
-Administers the provisions of the license laws
-Enforces the license laws
-Issues, renews, denies or suspends real estate licenses.
-Develops and distributes an association annual report form for use - ANSWER--
Handle disputes between salespeople and brokers or between brokers.
-Standardize any other forms used in real estate practice.
-Establish commission rates or splits.
Salesperson/Broker Requirements
Age ? Be at least ____ years of age (___ w/ exception)
education? Must have a __________ diploma or equivalent.
Have not been found guilty of violating the ________ Laws of any jurisdiction.
, Pass a written license examination within ______months of the application.
Have not had a real estate license _________ or _______ in any state.
Have not been convicted anywhere in the United States for a ____________ -
ANSWER-20, (18)
high school
Fair Housing
12 months
revoked or suspended
misdemeanor.
Educational Requirements for Salespeople
State-approved _____-hour course.
State examination within ______ months to apply for a license.
For brokers license ,act in the capacity of real estate salesperson for ____ of the
previous 48 months before applying for a broker's license.
Complete ______ hours of board-approved real estate study. - ANSWER-60
12
36
180
The license always hangs in the __________ of the broker - ANSWER-main office
An __________ license is one in which the broker or salesperson is not affiliated
with a supervising broker, firm, or sole proprietorship. - ANSWER-inactive
Licenses must be renewed every _____ years on the _____ day of the month during
which the license was issued - ANSWER-2 years
last
What is renewal policy for licenses - ANSWER-here is no automatic renewal of real
estate licenses.
If you change your home address, you must notify VA board within ______ days -
ANSWER-30 calendar
If license expired less than 30 days ago , what is process for getting it reinstated? -
ANSWER-the licensee must pay the normal renewal fee, and complete the
necessary continuing education.
If license expired more than 30 days ago , what is process for getting it reinstated? -
ANSWER-the licensee must pay the reinstatement fee, and complete the necessary
continuing education.
If license has been expired for more than 12 months, how do reinstate it? -
ANSWER-If the license remains expired after 12 months, the license may not be
reinstated.
Answers 100% Solved
The tax base in a jurisdiction is derived by subtracting exemptions from - ANSWER-
assessed values
A developer put two lots together and sold them as one large lot. The increase in
value is referred to as: - ANSWER-plottage
A 20-unit apartment building rented for $750 per month. The annual gross income
multiplier was 9. What is the value of the property? - ANSWER-1,620,000
he Virginia Real Estate Board is composed of _______ members who have been
licensed real estate brokers or salespersons for at least ____ consecutive years and
____ citizen members - ANSWER-7
5
2
The terms of VA Real Estate Board members are ____ years in length - ANSWER-4
Who administers?
The Virginia Fair Housing, Condominium and Time-Share Act
Common Interest Community Management Information Fund
The Virginia Transaction Recovery Fund - ANSWER-VA Real estate board
Which 3 does the VA board NOT do?
-Handle disputes between salespeople and brokers or between brokers.
-Standardize any other forms used in real estate practice.
-Establish commission rates or splits.
-Prescribes standards for licensure and for professional conduct
-Administers the provisions of the license laws
-Enforces the license laws
-Issues, renews, denies or suspends real estate licenses.
-Develops and distributes an association annual report form for use - ANSWER--
Handle disputes between salespeople and brokers or between brokers.
-Standardize any other forms used in real estate practice.
-Establish commission rates or splits.
Salesperson/Broker Requirements
Age ? Be at least ____ years of age (___ w/ exception)
education? Must have a __________ diploma or equivalent.
Have not been found guilty of violating the ________ Laws of any jurisdiction.
, Pass a written license examination within ______months of the application.
Have not had a real estate license _________ or _______ in any state.
Have not been convicted anywhere in the United States for a ____________ -
ANSWER-20, (18)
high school
Fair Housing
12 months
revoked or suspended
misdemeanor.
Educational Requirements for Salespeople
State-approved _____-hour course.
State examination within ______ months to apply for a license.
For brokers license ,act in the capacity of real estate salesperson for ____ of the
previous 48 months before applying for a broker's license.
Complete ______ hours of board-approved real estate study. - ANSWER-60
12
36
180
The license always hangs in the __________ of the broker - ANSWER-main office
An __________ license is one in which the broker or salesperson is not affiliated
with a supervising broker, firm, or sole proprietorship. - ANSWER-inactive
Licenses must be renewed every _____ years on the _____ day of the month during
which the license was issued - ANSWER-2 years
last
What is renewal policy for licenses - ANSWER-here is no automatic renewal of real
estate licenses.
If you change your home address, you must notify VA board within ______ days -
ANSWER-30 calendar
If license expired less than 30 days ago , what is process for getting it reinstated? -
ANSWER-the licensee must pay the normal renewal fee, and complete the
necessary continuing education.
If license expired more than 30 days ago , what is process for getting it reinstated? -
ANSWER-the licensee must pay the reinstatement fee, and complete the necessary
continuing education.
If license has been expired for more than 12 months, how do reinstate it? -
ANSWER-If the license remains expired after 12 months, the license may not be
reinstated.
