EstatePass
Practice Of Real EstateLicense_lawEASY

Under Virginia License Law, which of the following acts by a licensee constitutes a statutory ground for license revocation or suspension by the VREB?

Correct Answer

C) Misrepresenting a material fact about a property to a prospective buyer

Va. Code § 54.1-2130 and 18 VAC 135-20-260 explicitly list misrepresentation of a material fact as a ground for disciplinary action, including suspension or revocation of a real estate license. This is a core prohibited act under Virginia License Law.

Answer Options
A
Failing to personally attend a settlement closing on a transaction the licensee brokered
B
Paying a referral fee to a licensed salesperson in another state
C
Misrepresenting a material fact about a property to a prospective buyer
D
Representing a buyer without a written buyer-brokerage agreement in place

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Practice Of Real Estate Question

Sign up free to unlock full analysis

Background Knowledge for Practice Of Real Estate

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Practice Of Real Estate

Sign up free to unlock full analysis

Common Mistakes to Avoid on Practice Of Real Estate Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

misrepresentationgrounds_for_disciplinelicense_revocationvreb

Related Concepts

Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.

Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.

Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.

Was this explanation helpful?

More Practice Of Real Estate Questions

People Also Study

Related Articles

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing