Virginia License Law
A Virginia licensee who receives money in connection with a real estate transaction must handle it in accordance with:
ATheir personal judgment
BThe client's written instructions and VREB escrow regulations✓ Correct
COnly the buyer's instructions
DTheir broker's verbal instructions
Explanation
Virginia licensees must handle all transaction funds strictly according to the client's written instructions and VREB's escrow regulations. Deviation from written instructions or regulations is a serious violation.
Related Virginia Virginia License Law Questions
- Virginia real estate licenses must be renewed every:
- A Virginia salesperson who moves to another state may place their Virginia license on:
- Under Virginia law, a real estate salesperson may receive compensation for brokerage services only from:
- What is the maximum civil penalty the Virginia Real Estate Board can impose per violation?
- Virginia's license law allows a salesperson to receive compensation directly from:
- A Virginia real estate licensee who engages in property management must ensure their principal broker maintains:
- What is the purpose of Virginia's Real Estate Transaction Recovery Fund?
- A Virginia broker's license applicant must have been actively licensed as a salesperson for at least:
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →