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Exam Review

Key Facts: VA RE Broker Exam

125

Scored Questions

75 national + 50 state (PSI)

160 min

Exam Time

105 national + 55 state (PSI)

60/80 + 38/50

Passing Scores

National points + state (PSI)

180 hrs

Pre-License Education

DPOR requirement

36 of 48 mo

Active Salesperson Experience

18VAC135-20-35

$60

PSI Exam Fee

PSI bulletin

Virginia's broker exam requires 180 hours of pre-license education and active salesperson experience for 36 of the 48 months before applying. The PSI exam has a 75-question national portion (80 points, 60 to pass, 105 minutes) and a 50-question state portion (38 to pass, 55 minutes). The state portion tests licensing and broker supervision, escrow accounts, disclosure requirements, agency relationships, Virginia fair housing law, and specific acts such as the Condominium and Common Interest Communities Acts.

Sample VA RE Broker Practice Questions

Try these sample questions to review concepts for the VA RE Broker exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which Virginia state agency has primary regulatory authority over real estate brokers?
A.Department of Professional and Occupational Regulation (DPOR)
B.Virginia Real Estate Commission
C.Virginia Department of Commerce
D.Virginia Attorney General's Office
Explanation: The Virginia Department of Professional and Occupational Regulation (DPOR) is the state agency that regulates real estate brokers. Within DPOR, the Virginia Real Estate Board administers the broker licensing program, sets education requirements, and enforces the Virginia Real Estate License Law.
2How many hours of pre-license education does Virginia require for a broker license?
A.180 hours
B.120 hours
C.60 hours
D.240 hours
Explanation: Virginia requires 180 hours of pre-license education for a broker license. This includes broker-specific courses covering brokerage management, trust fund handling, Virginia real estate law, and other advanced topics beyond the 60 hours required for a salesperson license.
3A Virginia broker must deposit earnest money into the trust account by the end of which business day following contract ratification?
A.Fifth business day
B.Third business day
C.Next business day
D.Seventh business day
Explanation: Virginia law requires brokers to deposit earnest money into the trust account by the end of the fifth business day following ratification of the contract. Failure to comply is a violation of Virginia Real Estate License Law and can result in disciplinary action by DPOR.
4What is the minimum number of years of active salesperson experience required for a Virginia broker license?
A.3 years
B.2 years
C.5 years
D.1 year
Explanation: Virginia requires a minimum of 36 months (3 years) of active salesperson experience under a licensed Virginia broker before an applicant can sit for the broker exam. The applicant must have been actively engaged in real estate transactions during this period.
5A Virginia broker discovers that a trust account is short $500 due to a bank error. What must the broker do?
A.Immediately deposit personal funds to cover the shortage and notify DPOR
B.Wait for the bank to correct the error before taking action
C.Close the trust account and open a new one
D.Deduct the shortage from the next deposit received
Explanation: Virginia brokers are personally liable for trust fund shortages regardless of the cause. The broker must immediately deposit personal funds to cover any shortage and report the discrepancy to DPOR. Waiting for a bank correction or failing to maintain the proper balance is a violation of trust account regulations.
6Under Virginia law, which type of agency relationship is the default when no written agreement specifies otherwise?
A.Standard agent
B.Limited service agent
C.Dual agent
D.Transaction broker
Explanation: In Virginia, the default agency relationship is 'standard agent' when no written agreement specifies a different relationship. A standard agent owes the client the full range of fiduciary duties including loyalty, obedience, confidentiality, reasonable care, diligence, and accounting. This differs from many other states that use transaction broker as the default.
7A Virginia broker operating a branch office must ensure which of the following?
A.A supervising broker is assigned to oversee the branch office operations
B.The branch office operates independently with no main office oversight
C.Only the principal broker may manage the branch directly
D.Branch offices are exempt from DPOR trust account audits
Explanation: Virginia requires that each branch office have a supervising broker assigned to oversee daily operations. The supervising broker is responsible for ensuring compliance with Virginia Real Estate License Law, proper handling of trust funds, supervision of associates, and advertising compliance at the branch location.
8Virginia's Residential Property Disclosure Act requires the seller to provide a disclosure form. Which properties are EXEMPT from this requirement?
A.Properties transferred by court order, foreclosure, or estate settlement
B.Properties built before 1978
C.Properties with more than 2 bedrooms
D.Properties sold through a real estate broker
Explanation: Virginia's Residential Property Disclosure Act provides exemptions for properties transferred by court order, foreclosure proceedings, estate settlements, and certain government transfers. Brokers must know these exemptions to properly advise sellers on disclosure obligations. Most standard residential sales require the disclosure form.
9How often must a Virginia broker reconcile trust account records?
A.Monthly
B.Weekly
C.Quarterly
D.Annually
Explanation: Virginia brokers must perform monthly reconciliations of trust account records. The reconciliation must compare the broker's records with the bank statement and identify any discrepancies. DPOR can audit trust accounts at any time without notice, so maintaining current reconciliations is essential for compliance.
10What is the passing score required on the Virginia real estate broker exam?
A.70%
B.75%
C.80%
D.65%
Explanation: The Virginia real estate broker exam requires a 70% passing score on both the national and state portions. The exam consists of 120 questions (80 national + 40 state), administered by PSI. Candidates must pass both portions to receive a broker license.

About the VA RE Broker Exam

The Virginia real estate broker exam has 125 scored questions (a 75-question national portion worth 80 points and a 50-question state portion) and is administered by PSI. It covers brokerage management, escrow account handling, Virginia Real Estate License Law under Title 54.1 Chapter 21, supervisory responsibilities, agency relationships, and DPOR/Real Estate Board regulations at the broker level.

Exam sponsor: Virginia DPOR / Real Estate Board / PSI. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Questions

125 questions

Time Limit

160 minutes

Passing Score

60/80 national, 38/50 state

Exam / Certification Fees

$60

Exam sponsor website

Reported exam pass rate: Not published. No official first-time broker pass rate is published Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

10% of national

National: Property Ownership

Real and personal property, legal descriptions and land measurement, encumbrances, and types of ownership

5% of national

National: Land Use Controls

Government rights in land, government controls on land use, and private controls such as deed restrictions and CC&Rs

8% of national

National: Valuation

Appraisals, estimating value by the sales comparison, cost and income approaches, and CMA, BPO and AVM

9% of national

National: Financing

Loan terms (points, LTV, PMI, PITI), underwriting, types of loans, RESPA, TILA, TRID and ECOA

19% of national

National: Contracts

General contract law, electronic signatures, remedies for breach, purchase and lease contracts, and multiple offers

13% of national

National: Agency

Agency and non-agency relationships, listing and buyer brokerage contracts, powers of attorney, agent duties and agency disclosures

7% of national

National: Property Disclosures

Seller property condition disclosures, environmental and government disclosures, and material facts and defects

5% of national

National: Property Management

Tenant procurement, fair housing and ADA in management, landlord and tenant funds and trust accounts, and management contracts

6% of national

National: Transfer of Title

Types of deeds, title insurance and searches, closing and recordation, and foreclosure, short sale and probate transfers

12% of national

National: Practice of Real Estate

Federal fair housing, antitrust, Do-Not-Call rules, advertising, handling funds of others, and broker supervisory responsibilities

6% of national

National: Real Estate Calculations

Seller's net, buyer's funds at closing, prorations, transfer fees, PITI, equity, capitalization rate, LTV and points

13 of 50 state items

State: Licensing

Broker supervisory requirements, disciplinary procedures, records and audits, license types, and post-license and continuing education

7 of 50 state items

State: Escrow Accounts

Virginia escrow account rules for earnest money and other funds

7 of 50 state items

State: Disclosure Requirements

Property disclosure (including the Chesapeake Bay Act), aircraft noise, septic, Megan's Law, stigmatized properties, HOA/POA disclosures and advertising

12 of 50 state items

State: Agency Definitions and Relationships

Broker-salesperson relationships, limited service, agency disclosure and duties, brokerage agreements, and designated and dual agency

6 of 50 state items

State: Virginia Fair Housing Law and Regulations

Virginia Fair Housing Law and regulations

5 of 50 state items

State: Specific Acts Pertaining to Real Estate Practice

Condominium Act, Residential Landlord and Tenant Act, Common Interest Communities Act, Underground Utility Damage Prevention Act, and Property Owners' Association Act

Preparing for the VA RE Broker Exam

What You Need to Know

  • Passing score: 60/80 national, 38/50 state
  • Exam length: 125 questions
  • Time limit: 160 minutes
  • Exam / certification fees: $60 Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

VA RE Broker: Suggested Study Strategy

1Master Virginia escrow account rules: deposit by the fifth business banking day after ratification, federally insured accounts in the firm's licensed name, no commingling, and the principal broker's responsibility for the accounts
2Know DPOR and Virginia Real Estate Board powers: investigation authority, disciplinary actions, license suspension vs revocation, and fine schedules
3Study broker supervision duties: review of contracts, advertising approval, associate training requirements, and branch office oversight
4Understand the Virginia Residential Property Disclosure Act: when required, exemptions, and broker's duty regarding material adverse facts
5Learn Virginia-specific agency relationships: standard agent as default, limited service agent, dual agency disclosure requirements, and mandatory brokerage agreements

Frequently Asked Questions

How hard is the Virginia real estate broker exam?

No official first-time pass rate is published for the Virginia broker exam. It has 125 scored questions: a 75-question national portion worth 80 points (60 to pass, 105 minutes) and a 50-question state portion (38 to pass, 55 minutes). The exam tests broker-level responsibilities including escrow accounts, supervisory duties, DPOR regulations, and Virginia Real Estate License Law.

What are the prerequisites for a VA broker license?

You need 180 hours of broker pre-license education and must have been actively engaged as a real estate salesperson for 36 of the 48 months immediately before applying, verified by your principal or supervising broker. You must also be fingerprinted for a criminal background check.

What is unique about Virginia broker trust account requirements?

A firm that holds money in escrow must keep one or more federally insured escrow accounts in its licensed name, and the principal broker is responsible for them and has signatory authority. An earnest money deposit held by the firm must be placed in the escrow account by the end of the fifth business banking day after ratification unless the principals agree otherwise in writing, commingling is prohibited, and transaction records must be kept for three years.

What is the mandatory brokerage agreement requirement in Virginia?

Virginia requires a signed brokerage agreement before a licensee can provide real estate services. This includes buyer representation agreements that must be signed before showing property. The agreement must disclose the brokerage relationship type, compensation terms, and duration. This requirement applies at both the salesperson and broker level.