Virginia Real Estate - State Portion 62 Correctly Answered Questions Latest Update

independent contractor {Ans: a licensee who acts for or represents a client other than as a standard agent and whose duties and obligations are governed by a WRITTEN contract between a licensee and the client}respondent {Ans: any person or other entity alleged to have violated the provisions of the VA Fair Housing Law}brokerage agreement {Ans: a contract that establishes a business relationship between the buyer and the agent. it must include the start and end date, payment arrangements, and then duties and obligations of all parties}Conciliation Agreement {Ans: written agreement setting forth the resolution of the issues in conciliation}Supervising broker {Ans: a broker who is named by the principal broker to supervise a branch office is called a supervising broker in VA law}VA Fair Housing office {Ans: investigate arm for both the Fair Housing Board and the Real Estate Board}