PSI Virginia Real Estate Practice Exam

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What can be a consequence of an investigation by the Virginia Real Estate Board?

Free advertising for the real estate agency
Monetary penalties or suspension of license
No consequences unless fraud is evident
Only verbal warnings are issued

The correct answer is: Monetary penalties or suspension of license

An investigation by the Virginia Real Estate Board can indeed lead to monetary penalties or the suspension of a real estate license. This is a serious consequence that underscores the board's role in enforcing real estate regulations and maintaining industry standards. When the board investigates a complaint or suspected violation, it assesses whether the real estate professional has breached any laws or ethical standards. If violations are found, the board has the authority to impose fines or suspend the individual's real estate license to prevent them from continuing to operate in violation of the law, thereby protecting public interests and maintaining the integrity of the real estate market in Virginia. While the other options might seem plausible, they do not accurately reflect the scope of consequences that could follow from an investigation. Free advertising is not a typical outcome, and the board takes action based on evidence of wrongdoing rather than only evidence of fraud. Verbal warnings might occur in some contexts, but formal investigations typically lead to more severe repercussions.