Before you read
Test yourself first: 5 questions
Question 1 of 5
Under Virginia rules, who bears ultimate responsibility for the proper handling, deposit, and accounting of all escrow funds held by a real estate firm?
Answer: B. In Virginia the principal broker is ultimately responsible for the firm's escrow account, including proper deposit, safekeeping, record-keeping, and disbursement of funds belonging to others. Salespersons must turn funds over to the broker, but accountability for the account rests with the principal broker.
Question 2 of 5
A Virginia broker performs a monthly escrow reconciliation and finds the bank balance is $1,200 higher than the total of amounts owed to clients. The most appropriate action is to:
Answer: B. An escrow account should hold only funds belonging to others, and the balance should reconcile to the total owed to clients. An unexplained overage suggests commingled broker funds or a record-keeping error, which the broker must investigate and correct. The broker cannot simply treat the excess as commission, nor leave a known commingling problem unaddressed.
Question 3 of 5
When a Virginia licensee advertises a property, the advertisement must generally include which of the following?
Answer: B. Virginia advertising rules require that advertising disclose the brokerage firm's name so the public knows the licensee is acting under a licensed broker, preventing misleading 'blind' ads.
Question 4 of 5
A Virginia salesperson posts an online ad for a listing that shows only her personal phone number and no brokerage identification. Under Virginia rules, this is:
Answer: B. Advertising that omits the brokerage firm's identity is a prohibited blind ad in Virginia; licensee advertising must identify the affiliated firm.
Question 5 of 5
A Virginia salesperson runs an online listing ad using only her personal name and cell number, with no mention of the brokerage firm. Under Virginia advertising rules this is:
Answer: B. Virginia requires that advertising by a licensee include the name of the firm as licensed and not mislead consumers into thinking the salesperson operates independently of the broker. A salesperson may not advertise property in a way that omits the firm and implies independent activity.
Keep the streak going with more questions like these, each with a full rationale.
What you need to know
Online listings, signs, and social posts must avoid misleading claims and disclose the licensee's status as a real-estate professional. Brokers are responsible for supervising their licensees' advertising and for retaining transaction and escrow records for the period set by Board regulation. These records, including agency agreements and disbursement documentation, must be available for inspection by the Real Estate Board.
Virginia Advertising & Record-Keeping Rules: FAQs
Is Virginia Advertising & Record-Keeping Rules on the real estate exam?
Yes. State License Law is a scored domain on the Virginia real estate licensing exam, and this topic appears in the state license-law portion.
Is this cheat sheet free?
Yes — every page on Cinna RE's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.
Does Virginia test this differently?
Virginia applies its own license law on top of the national portion. This page covers the Virginia rules specifically, which is what the state section of your exam tests.
