Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Dumps

Reference (Virginia Real Estate Math):

Real Estate Math section in Virginia pre-license education

A490-02REGS.pdf -- Math requirements for licensure

Corrected: Answer = B. 180 ft

A stigmatized property is one that has a psychological impact on potential buyers, not a physical defect. Examples:

Property where a murder, suicide, or crime occurred.

Homes associated with alleged hauntings.

Properties connected to diseases like HIV/AIDS.

Such events may reduce market value, even though the property is structurally sound.

Other options:

(A) Describes physical defects.

(B) Ad valorem tax exemptions apply to some properties (e.g., nonprofits, veterans), not stigmatized homes.

(C) Overpriced properties are not necessarily stigmatized.

Reference (Virginia Real Estate):

Virginia Code 55.1-713 (no duty to disclose stigmatization, e.g., death or HIV status)

Virginia Real Estate Principles -- Property condition & disclosure section

In Virginia, a limited service agent is a licensee who enters into a brokerage agreement that provides fewer services than a standard brokerage agreement.

The law requires that the agent's limited duties must be disclosed in writing.

These agents can operate in both residential and commercial transactions, not just one type.

Other options:

(A) Wrong --- They can assist in both.

(B) Wrong --- Not limited to residential.

(C) Wrong --- Not limited to commercial.

Code of Virginia 54.1-2138.1 (Limited service agent defined)

Real Estate Board Regulations, 18 VAC 135-20-300

The U.S. Department of Housing and Urban Development (HUD) regulates fair housing advertising under the Fair Housing Act (1968).

HUD issues rules on wording, images, and equal housing opportunity statements in ads.

Other agencies:

(A) HMDA (Home Mortgage Disclosure Act) -- focuses on lending data, not advertising.

(C) CRA (Community Reinvestment Act) -- ensures banks serve all communities fairly.

(D) ECOA (Equal Credit Opportunity Act) -- prohibits discrimination in lending, not ads.

Fair Housing Act, 42 U.S.C. 3601 et seq.

HUD Fair Housing Advertising Guidelines

Virginia Fair Housing Law (Title 36, Chapter 5.1)

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)