Exam (elaborations)
Virginia PSI Exam (State) QUESTIONS & ANSWERS
- Course
- Institution
Virginia PSI Exam (State) QUESTIONS & ANSWERS
[Show more]
Content preview
Virginia PSI Exam (State)1. Active Status: Legally engaging in acts of real estate.
2. Brokerage Agreement: A written agreement establishing the
brokerage relation- ship between a client and a licensee which must
state whether the licensee will represent the client as an agent or as an
independent contractor.
3. Brokerage Relationship: The contractual relationship
between a client and a licensee.
4. Inactive Status: Broker or salesperson who is not under a
principal or not active with a firm.
5. Independent Contractor: Licensee who enters into brokerage
agreement with client, which specifically states that the licensee is
acting as an independent con- tractor and NOT an agent.
6. Limited Service Agent: States that agent will not provide one
or more of the duties of a standard agent is required to provide. The
obligations of a limited service agent are agreed upon by the parties.
7. Principal to a Transaction: A party to a real estate
transaction, including a buyer or seller, landlord or tenant, optionor or
optionee.
8. Standard Agent: A licensee who acts for or represents a
client in a residential transaction
9. Virginia Real Estate Board: Consist of nine members: seven
1/
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mitchelwiliams. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76658 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now