VIRGINIA REAL ESTATE LICENSE EXAM QUESTIONS AND
ANSWERS LATEST UPDATED 2025/2026 A COMPLETE
SOLUTION ALL ANSWERS 100% ACCURATE BEST GRADED A+
FOR SUCCESS
The minimum balance of the Virginia Real Estate Transaction Recovery Fund is... - CORRECT
ANSWERS $400,000
When are real estate licenses renewed? - CORRECT ANSWERS Every 2 years on the last
day of the month in which they were issued
Ed, a licensed salesperson, moved to a new home. What is Ed required to do? - CORRECT
ANSWERS Advise the Board in writing within 30 calendar days of the change
A licensee contacts a homeowner in an attempt to obtain a listing for the property. When must
agency disclosure be provided to the homeowner? - CORRECT ANSWERS At the time
the owner agrees to list the property
A salesperson is alleged to have violated the license law which could result in disciplinary
action. TRUE or FALSE? The salesperson is entitled to a jury trial before any action can be taken.
- CORRECT ANSWERS FALSE. An investigation will be conducted unless the law
specifically provides otherwise.
Mike, a broker, has decided to open a brokerage partnership. His long time friend Peter is a
licensed stock broker and has agreed to finance the partnership and share in the profits. Peter
will be designated as the senior partner. What is true of Peter and the partnership? -
CORRECT ANSWERS Peter may not engage in acts of brokerage.
Peter may be the senior partner, but he cannot be the principal broker.
The partnership must have a separate license, issued by the Board.
Joe is a licensed sales agent with XYZ Realty Corp. Joe is working with a customer interested in
leasing property owned by XYZ. Is Joe required to disclose his relationship with XYZ to his
, VIRGINIA REAL ESTATE LICENSE EXAM QUESTIONS AND
ANSWERS LATEST UPDATED 2025/2026 A COMPLETE
SOLUTION ALL ANSWERS 100% ACCURATE BEST GRADED A+
FOR SUCCESS
customer? - CORRECT ANSWERS Yes, Joe must disclose the license status and
relationship with XYZ
TRUE or FALSE? When there is a possible violation of the Virginia Fair Housing Law, the burden
of proof is on the complainant. - CORRECT ANSWERS TRUE
A licensee whose license has been on inactive status for more than 3 years will have to do what
in order to activate the license? - CORRECT ANSWERS Meet current educational
requirements
When a person wants to file a claim for payment from the Virginia Real Estate Transaction
Recovery Fund, where is the claim filed? - CORRECT ANSWERS The Real Estate Board
The Virginia Residential Landlord Tenant Act allows a landlord to require a security deposit as a
condition of a lease, but has established a maximum amount. The amount of such deposit
cannot exceed... - CORRECT ANSWERS Two month's rent
A broker has received an earnest money deposit to support a valid contract. If the contract is
breached and does not close, the broker is required to hold the escrow funds until... -
CORRECT ANSWERS All principals to the contract agree to the intended distribution
Lisa is a licensed salesperson and selling her own townhouse. She advertises her townhouse as
a FSBO as follows: "Beautiful, 3 bedroom townhouse. Excellent assumption. Single females only.
Call 123-4567 for details. Owner is licensed". Which of the following is not true? - CORRECT
ANSWERS Lisa, acting as the owner of the property, is exempt from VA Fair Housing Laws
George, an independent broker, lists property. George offers broker Martha a portion of the fee
if she can sell the property. Martha sells the property and George pays her the agreement. The
ANSWERS LATEST UPDATED 2025/2026 A COMPLETE
SOLUTION ALL ANSWERS 100% ACCURATE BEST GRADED A+
FOR SUCCESS
The minimum balance of the Virginia Real Estate Transaction Recovery Fund is... - CORRECT
ANSWERS $400,000
When are real estate licenses renewed? - CORRECT ANSWERS Every 2 years on the last
day of the month in which they were issued
Ed, a licensed salesperson, moved to a new home. What is Ed required to do? - CORRECT
ANSWERS Advise the Board in writing within 30 calendar days of the change
A licensee contacts a homeowner in an attempt to obtain a listing for the property. When must
agency disclosure be provided to the homeowner? - CORRECT ANSWERS At the time
the owner agrees to list the property
A salesperson is alleged to have violated the license law which could result in disciplinary
action. TRUE or FALSE? The salesperson is entitled to a jury trial before any action can be taken.
- CORRECT ANSWERS FALSE. An investigation will be conducted unless the law
specifically provides otherwise.
Mike, a broker, has decided to open a brokerage partnership. His long time friend Peter is a
licensed stock broker and has agreed to finance the partnership and share in the profits. Peter
will be designated as the senior partner. What is true of Peter and the partnership? -
CORRECT ANSWERS Peter may not engage in acts of brokerage.
Peter may be the senior partner, but he cannot be the principal broker.
The partnership must have a separate license, issued by the Board.
Joe is a licensed sales agent with XYZ Realty Corp. Joe is working with a customer interested in
leasing property owned by XYZ. Is Joe required to disclose his relationship with XYZ to his
, VIRGINIA REAL ESTATE LICENSE EXAM QUESTIONS AND
ANSWERS LATEST UPDATED 2025/2026 A COMPLETE
SOLUTION ALL ANSWERS 100% ACCURATE BEST GRADED A+
FOR SUCCESS
customer? - CORRECT ANSWERS Yes, Joe must disclose the license status and
relationship with XYZ
TRUE or FALSE? When there is a possible violation of the Virginia Fair Housing Law, the burden
of proof is on the complainant. - CORRECT ANSWERS TRUE
A licensee whose license has been on inactive status for more than 3 years will have to do what
in order to activate the license? - CORRECT ANSWERS Meet current educational
requirements
When a person wants to file a claim for payment from the Virginia Real Estate Transaction
Recovery Fund, where is the claim filed? - CORRECT ANSWERS The Real Estate Board
The Virginia Residential Landlord Tenant Act allows a landlord to require a security deposit as a
condition of a lease, but has established a maximum amount. The amount of such deposit
cannot exceed... - CORRECT ANSWERS Two month's rent
A broker has received an earnest money deposit to support a valid contract. If the contract is
breached and does not close, the broker is required to hold the escrow funds until... -
CORRECT ANSWERS All principals to the contract agree to the intended distribution
Lisa is a licensed salesperson and selling her own townhouse. She advertises her townhouse as
a FSBO as follows: "Beautiful, 3 bedroom townhouse. Excellent assumption. Single females only.
Call 123-4567 for details. Owner is licensed". Which of the following is not true? - CORRECT
ANSWERS Lisa, acting as the owner of the property, is exempt from VA Fair Housing Laws
George, an independent broker, lists property. George offers broker Martha a portion of the fee
if she can sell the property. Martha sells the property and George pays her the agreement. The
