PSI Virginia Real Estate Practice Exam

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Prepare for the PSI Virginia Real Estate Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam success!

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Which governing body oversees the enforcement of real estate regulations in Virginia?

Virginia Department of Housing
Virginia Real Estate Board
Virginia Housing Authority
Virginia Department of Commerce

The correct answer is: Virginia Real Estate Board

The Virginia Real Estate Board is the correct answer because it is the specific entity established to oversee the regulation and enforcement of real estate practices within the state of Virginia. This board is responsible for licensing real estate brokers and salespersons, ensuring compliance with Virginia real estate laws, and maintaining standards in the industry. In addition to these regulatory responsibilities, the Virginia Real Estate Board also has the authority to investigate complaints against licensees, impose disciplinary actions when necessary, and further protect the public in real estate transactions. This structure is crucial in maintaining trust and professionalism within the real estate market. The other choices, while related to housing and commerce in Virginia, do not hold the primary responsibility for real estate regulation. The Virginia Department of Housing focuses more broadly on housing policies, the Virginia Housing Authority is involved in public housing and development, and the Virginia Department of Commerce deals more with economic development rather than direct oversight of real estate practices.