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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q77-Q82):

NEW QUESTION # 77
In Virginia, what is the difference between the REB and theFHB?

Answer: C

Explanation:
In Virginia, two separate bodies manage different aspects of housing regulation and enforcement:
Real Estate Board (REB):
The REB, operating under the Virginia Department of Professional and Occupational Regulation (DPOR), is responsible for regulating and enforcing real estate laws and regulations related to licensed real estate professionals. This includes education, licensure, conduct, disciplinary action, and fair housing compliance specifically for licensees (e.g., salespersons and brokers).
Authority Source: Title 54.1, Chapter 21 of the Code of Virginia.
Regulatory oversight: Violations of fair housing law by real estate licensees (salespersons or brokers) are investigated and enforced by the REB.
Fair Housing Board (FHB):
The FHB, also under DPOR but functioning independently from the REB, is tasked with enforcing Virginia's Fair Housing Law (outside of licensee jurisdiction). This includes addressing violations by:
Unlicensed individuals
Property owners
Landlords and property managers who are not licensed real estate professionals Other entities not subject to REB regulation This clear division ensures that real estate licensees are held accountable by the REB, while the FHB addresses violations by those not regulated through licensure.
Reference (without URLs):
Virginia Code § 54.1-2105 (Regulation and enforcement powers of the Real Estate Board) Virginia Fair Housing Law: Title 36, Chapter 5.1 of the Code of Virginia Real Estate Regulations (18 VAC 135-20-10 et seq.) DPOR Guidance and Organizational Structure (as outlined in the A490-02REGS.pdf document)


NEW QUESTION # 78
Janay lives in and is licensed as a salesperson in North Carolina but wants to practice real estate in Virginia. Which of the following is true?

Answer: C

Explanation:
Virginia has reciprocity agreements with several states, including North Carolina.
If Janay is already licensed in NC, she only needs to:
Apply to the Virginia Real Estate Board.
Provide certification of her NC license in good standing.
Pass the Virginia state portion of the licensing exam.
She does not need to retake pre-licensure education, and residency in Virginia is not required.
Reference (Virginia Real Estate):
Virginia Code § 54.1-2105.2 (Reciprocity for out-of-state licensees)
Real Estate Board Reciprocity Rules (DPOR guidance)
A490-02REGS.pdf - Licensing requirements


NEW QUESTION # 79
Which of the following can be described as a nonexclusive listing agreement that gives multiple brokers (and owners themselves) the right to sell property, and the individual who is considered to have procured the cause of the sale is the one who will receive the commission?

Answer: B

Explanation:
An open listing is a nonexclusive listing agreement where:
Multiple brokers may attempt to sell the property.
The seller retains the right to sell it themselves.
Only the broker (or seller) who is the procuring cause of the sale earns the commission.
Other agreements:
Net listing (A): Broker keeps anything above a set sale price (illegal in many states, including Virginia).
Exclusive right-to-sell (B): Broker gets commission no matter who sells the property.
Exclusive agency (D): Seller can sell without paying commission, but only one broker is engaged.
Reference (Virginia Real Estate):
Code of Virginia § 54.1-2137 (Agency agreements)
A490-02REGS.pdf - Listing agreements curriculum


NEW QUESTION # 80
Disclosure is an important part of a brokerage's duties and responsibilities. Which of the following is NOT an important disclosure all brokerages should make?

Answer: C

Explanation:
Brokerages have legal and ethical disclosure obligations, including:
Disclosure of agency (who the licensee represents).
Disclosure of financial condition (as it pertains to ability to complete transaction).
Disclosure of all offers (must present promptly).
However, disclosing demographics of race and ethnicity violates the Fair Housing Act because it could encourage steering or discrimination. This type of disclosure is explicitly prohibited.
Reference (Virginia Real Estate):
Federal Fair Housing Act (42 U.S.C. §§ 3601-3619)
Virginia Fair Housing Law, Code of Virginia Title 36, Ch. 5.1
Real Estate Board Regulations (18 VAC 135-20-300) - Standards of conduct


NEW QUESTION # 81
Why does the state require real estate professionals to obtain a license?

Answer: D

Explanation:
The primary purpose of state licensing requirements is consumer protection. By requiring education, examination, and adherence to regulations, Virginia ensures that only qualified individuals can practice real estate.
Licensing prevents fraud, incompetence, and unethical behavior.
It also ensures accountability through the Virginia Real Estate Board (REB), which enforces disciplinary actions when necessary.
Other options:
(A) No federal occupational licensing law for real estate exists-licensing is state-based.
(B) While agencies do collaborate, that's not the primary reason for licensing.
(D) States may collect fees, but revenue generation is not the intent.
Reference (Virginia Real Estate):
Virginia Code § 54.1-2105 (Powers of the Real Estate Board)
A490-02REGS.pdf - Licensing purpose & regulations


NEW QUESTION # 82
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