unit 10 virginia real estate exam questions with complete solution

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