Virginia License Law
The Virginia Real Estate Transaction Recovery Fund pays claims against licensees who have committed:
ASimple negligence in a transaction
BFraud, misrepresentation, or deceit✓ Correct
CFailure to disclose agency
DErrors in a comparative market analysis
Explanation
The Virginia Real Estate Transaction Recovery Fund compensates consumers harmed by a licensee's fraud, misrepresentation, or deceit when a court judgment cannot be collected from the licensee.
Related Virginia Virginia License Law Questions
- How many hours of continuing education must a Virginia salesperson complete for each license renewal?
- A Virginia salesperson who moves to another state may place their Virginia license on:
- A Virginia real estate license is valid for how long before it must be renewed?
- The Virginia Real Estate Transaction Recovery Fund provides a maximum payment of how much per transaction?
- The Virginia Real Estate Board may discipline a licensee for which of the following?
- A Virginia real estate license may be placed on inactive status when a licensee:
- Which of the following must be included in every Virginia real estate advertisement by a salesperson?
- Under Virginia license law, a salesperson who leaves their employing broker must:
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →