Are flashcards effective for the Virginia real estate exam?

Yes. Flashcards use active recall — retrieving an answer from memory — which research shows is one of the most effective study methods, especially in short, spaced sessions. Because the Virginia exam rewards instant recall of statutes, brokerage rules, disclosure documents, and math formulas, the cards make that knowledge automatic.

What topics do the Virginia flashcards cover?

The Virginia state portion — DPOR and the VREB, Code of Virginia 54.1, brokerage relationships (standard, limited service, designated, and dual representatives), escrow and the Recovery Fund, disclosure, fair housing, and grantor's and recordation tax — plus the national content areas: property and legal descriptions, ownership and title, value and appraisal, contracts and agency, practice and fair housing, disclosures and environment, financing and settlement, and real estate math.

How should I study with these Virginia flashcards?

Lead with the Virginia license-law cards — DPOR and the VREB, brokerage relationships, the Recovery Fund, and disclosure — because most candidates lose points on the state portion. Then drill contracts and agency and the math formulas. Mix the modes: flip to learn, type to test recall, match for speed, and quiz to check yourself.

Are the Virginia real estate flashcards free?

Yes — 100% free, all four study modes, no paywall.

Do these flashcards match the Virginia real estate exam?

Yes. The cards are organized around both portions of the PSI Virginia salesperson exam — the Virginia state-specific law and the national/general principles — so you study exactly what the test measures.

The Department of Professional and Occupational Regulation — the umbrella Virginia agency that houses the Real Estate Board and handles licensing administration and enforcement.

Virginia Real Estate Board (VREB)

The board within DPOR that licenses and regulates real estate salespersons and brokers under Code of Virginia Title 54.1, Chapter 21.

Code of Virginia Title 54.1, Chapter 21

Virginia's real estate licensing statute — the source of the Board's authority over licensees, brokerage relationships, escrow, and the Recovery Fund.

Board Regulations (18VAC135-20)

The VREB regulations that implement the statute — education, advertising, escrow, recordkeeping, and standards of conduct.

VREB membership (§ 54.1-2104)

Nine members: seven licensed brokers or salespersons and two citizen members.

Virginia pre-license education

A 60-hour Board-approved Principles of Real Estate course, completed before sitting for the PSI exam.

Who administers the Virginia exam?

PSI, the Board's contracted testing vendor.

Virginia exam structure

Two portions: a national portion (80 questions, 56 to pass) and a Virginia state portion (40 questions, 30 to pass), scored separately.

Activating a new Virginia salesperson license

The license must be placed with and supervised by a principal or supervising broker before the salesperson can practice.

Post-License Education (PLE)

A 30-hour course a new salesperson must complete within one year of licensure, in place of standard CE for the first license term.

Within one year from the last day of the month in which the license was issued.

Virginia CE after the first renewal

16 hours of continuing education each two-year renewal cycle.

A required Virginia CE topic

Fair Housing (among the mandated CE subjects).

Virginia broker experience requirement

Active practice as a salesperson for 36 of the 48 months immediately preceding application.

Principal or supervising broker

The licensed broker who supervises a Virginia salesperson; the salesperson cannot operate independently and is paid through the broker.

Limited service agent (Virginia)

A licensee who provides fewer than the full statutory duties; the limited services are specified in writing in the brokerage agreement.

Independent contractor representative

A licensee acting under an agreement stating they are an independent contractor and not an agent of the client.

Designated representative (Virginia)

A licensee a broker assigns to represent one client to the exclusion of all other licensees in the firm — avoids firm-wide dual agency.

Dual representative (§ 54.1-2139)

Represents both parties in one transaction; allowed only with the written consent of all parties after written disclosure.

Brokerage relationship disclosure (§ 54.1-2138)

Required in writing to an unrepresented party at the earliest practical time, no later than when specific assistance is first provided.

How must brokerage disclosure appear?

Conspicuously — in bold lettering, all capitals, underlined, or set apart in a separate box.

Dual representative's key prohibition

May not disclose to one client the confidential information given by the other in the trust of the brokerage relationship.

Designation vs. dual representation

Designation keeps each side separately represented by different licensees; dual representation has one licensee representing both.

Virginia property-condition disclosure approach

Caveat emptor (buyer beware): the seller gives a statement advising the buyer to exercise due diligence, not a list of defects.

Virginia Residential Property Disclosure Act (§ 55.1-703)

The statement advises the buyer to obtain a home inspection and investigate conditions affecting the property.

POA disclosure packet

Required when a Virginia home is in a Property Owners' Association; the seller obtains and provides it to the purchaser.

Condominium resale certificate

Required for a Virginia condo resale; provided by the unit owners' association.

Time to deliver a POA packet/condo resale certificate

Within 14 days after a written request.

Purchaser cancellation after the disclosure packet

Generally within three days of receipt (extendable up to seven days by the ratified contract).

Earnest money to escrow deadline

By the end of the fifth business banking day following ratification, unless the principals agree otherwise in writing.

Delivery to a named outside escrow agent

By the end of the fifth business banking day following receipt of the deposit, unless otherwise agreed in writing.

Disputed earnest money — broker notice

The broker may notify the parties that the deposit will be released unless a written protest is received within 15 calendar days of the notice.

Virginia escrow recordkeeping

Records must be retained, separately identified, reconciled, and available for inspection by the Board.

Virginia Real Estate Transaction Recovery Fund

Compensates consumers who hold an unsatisfied court judgment for a licensee's improper or dishonest conduct in a transaction.

First step before recovering from the Fund

Obtain a court judgment against the licensee that remains unsatisfied.

Recovery Fund cap — single claimant, single transaction

$20,000 (Code of Virginia § 54.1-2116).

Effect of a Recovery Fund payment on the license

The license is automatically revoked and cannot be reinstated until the Fund is repaid in full with interest.

Your FREE Virginia Real Estate Flashcards 2026 – 200+ Cards

Realistic Virginia real estate exam flashcards across both portions — VREB license law, brokerage relationships, disclosure, escrow, financing, and math. Flip, match, type, and quiz yourself.

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Virginia Real Estate Exam Flashcards

DPOR: The Department of Professional and Occupational Regulation — the umbrella Virginia agency that houses the Real Estate Board and handles licensing administration and enforcement.
Virginia Real Estate Board (VREB): The board within DPOR that licenses and regulates real estate salespersons and brokers under Code of Virginia Title 54.1, Chapter 21.
Code of Virginia Title 54.1, Chapter 21: Virginia's real estate licensing statute — the source of the Board's authority over licensees, brokerage relationships, escrow, and the Recovery Fund.
Board Regulations (18VAC135-20): The VREB regulations that implement the statute — education, advertising, escrow, recordkeeping, and standards of conduct.
VREB membership (§ 54.1-2104): Nine members: seven licensed brokers or salespersons and two citizen members.
Virginia pre-license education: A 60-hour Board-approved Principles of Real Estate course, completed before sitting for the PSI exam.
Who administers the Virginia exam?: PSI, the Board's contracted testing vendor.
Virginia exam structure: Two portions: a national portion (80 questions, 56 to pass) and a Virginia state portion (40 questions, 30 to pass), scored separately.
Virginia national-portion passing score: 56 of 80 correct (70%).
Virginia state-portion passing score: 30 of 40 correct (75%).
Activating a new Virginia salesperson license: The license must be placed with and supervised by a principal or supervising broker before the salesperson can practice.
Post-License Education (PLE): A 30-hour course a new salesperson must complete within one year of licensure, in place of standard CE for the first license term.
Missing the 30-hour PLE: The salesperson's license is automatically placed on inactive status.
When is PLE due?: Within one year from the last day of the month in which the license was issued.
Virginia license renewal cycle: Every two years.
Virginia CE after the first renewal: 16 hours of continuing education each two-year renewal cycle.
A required Virginia CE topic: Fair Housing (among the mandated CE subjects).
Virginia broker experience requirement: Active practice as a salesperson for 36 of the 48 months immediately preceding application.
Principal or supervising broker: The licensed broker who supervises a Virginia salesperson; the salesperson cannot operate independently and is paid through the broker.
Standard agent (Virginia): A licensee who provides the full set of statutory agency duties to a client — the default representation.
Limited service agent (Virginia): A licensee who provides fewer than the full statutory duties; the limited services are specified in writing in the brokerage agreement.
Independent contractor representative: A licensee acting under an agreement stating they are an independent contractor and not an agent of the client.
Designated representative (Virginia): A licensee a broker assigns to represent one client to the exclusion of all other licensees in the firm — avoids firm-wide dual agency.
Dual representative (§ 54.1-2139): Represents both parties in one transaction; allowed only with the written consent of all parties after written disclosure.
Brokerage relationship disclosure (§ 54.1-2138): Required in writing to an unrepresented party at the earliest practical time, no later than when specific assistance is first provided.
How must brokerage disclosure appear?: Conspicuously — in bold lettering, all capitals, underlined, or set apart in a separate box.
Dual representative's key prohibition: May not disclose to one client the confidential information given by the other in the trust of the brokerage relationship.
Designation vs. dual representation: Designation keeps each side separately represented by different licensees; dual representation has one licensee representing both.
Virginia property-condition disclosure approach: Caveat emptor (buyer beware): the seller gives a statement advising the buyer to exercise due diligence, not a list of defects.
Virginia Residential Property Disclosure Act (§ 55.1-703): The statement advises the buyer to obtain a home inspection and investigate conditions affecting the property.
POA disclosure packet: Required when a Virginia home is in a Property Owners' Association; the seller obtains and provides it to the purchaser.
Condominium resale certificate: Required for a Virginia condo resale; provided by the unit owners' association.
Time to deliver a POA packet/condo resale certificate: Within 14 days after a written request.
Purchaser cancellation after the disclosure packet: Generally within three days of receipt (extendable up to seven days by the ratified contract).
Earnest money to escrow deadline: By the end of the fifth business banking day following ratification, unless the principals agree otherwise in writing.
Delivery to a named outside escrow agent: By the end of the fifth business banking day following receipt of the deposit, unless otherwise agreed in writing.
Disputed earnest money — broker notice: The broker may notify the parties that the deposit will be released unless a written protest is received within 15 calendar days of the notice.
Commingling (Virginia): Improperly mixing client escrow funds with the broker's own or operating funds — a Board violation.
Virginia escrow recordkeeping: Records must be retained, separately identified, reconciled, and available for inspection by the Board.
Virginia Real Estate Transaction Recovery Fund: Compensates consumers who hold an unsatisfied court judgment for a licensee's improper or dishonest conduct in a transaction.
First step before recovering from the Fund: Obtain a court judgment against the licensee that remains unsatisfied.
Recovery Fund cap — single claimant, single transaction: $20,000 (Code of Virginia § 54.1-2116).
Recovery Fund cap — aggregate per single transaction: $50,000.
Recovery Fund cap — per regulant per biennium: $100,000.
Effect of a Recovery Fund payment on the license: The license is automatically revoked and cannot be reinstated until the Fund is repaid in full with interest.
Excluded from a Recovery Fund claim: Interest and punitive damages.
Virginia Fair Housing Law — added classes: Beyond the federal classes, Virginia protects elderliness and source of funds (among others).
Elderliness (Virginia protected class): Protects an individual who has reached age 55.
Source of funds (added 2020): Prohibits refusing housing based on how a person lawfully pays — e.g., a housing voucher.
Who enforces the Virginia Fair Housing Law?: The Virginia Fair Housing Office within DPOR.
Virginia grantor's tax — who pays?: Customarily the seller (grantor).
Virginia state grantor's tax rate: 50 cents per $500 (or fraction) of the value conveyed.
Virginia recordation tax — who pays?: Customarily the buyer (grantee).
Virginia state recordation tax rate: 25 cents per $100 (or fraction) of the value conveyed.
VREB disciplinary powers: Impose monetary penalties and suspend or revoke a license for violations of Title 54.1, Chapter 21 or Board regulations.
Improper escrow handling — which rules?: The Board's escrow and trust-account rules under 18VAC135-20 and Code of Virginia §§ 54.1-2108/2108.2.
Where Virginia deeds are recorded: In the circuit court clerk's office of the city or county where the property lies.
Virginia settlement agent (CRESPA): A neutral agent (often an attorney or title company) who conducts a closing under the Consumer Real Estate Settlement Protection Act.
Virginia foreclosure method: Non-judicial — a trustee's sale under a deed of trust, without a court action.
Is there a 'Virginia Department of Real Estate'?: No — the Real Estate Board is a board within DPOR; there is no standalone department.
Federal Fair Housing classes (memory hook): Race, color, religion, national origin, sex, familial status, and disability — seven classes.
Place of business / advertising (Virginia): Advertising must not be misleading and must identify the brokerage firm; the principal broker is responsible for the firm's advertising.
Virginia license — inactive status: An inactive licensee may not practice; the license is reactivated by meeting education requirements and placing it with a broker.
Who supervises a firm's escrow account?: The principal broker of the firm.
Virginia agency duties owed to all parties: Even to a customer, a licensee owes honesty and fair dealing and must not misrepresent material facts.
Virginia Residential Landlord and Tenant Act: Governs most Virginia residential leases — rights and duties of landlords and tenants.
Disclosing a licensee's own interest: A Virginia licensee buying or selling for their own account must disclose their license status to the other party.
Standard agent's statutory duties (Virginia): Performance of the brokerage agreement, loyalty, confidentiality, accounting, disclosure of material facts, and reasonable care.
Virginia background check for licensure: Applicants submit fingerprints for a state and FBI criminal history records check.
Who may sue for an unpaid commission?: Only a licensed broker; an unlicensed person or a salesperson acting outside the broker cannot enforce a commission.
Bundle of rights: Possession, use (enjoyment), exclusion, disposition (transfer), and control — the rights of ownership.
Real property: Land, everything permanently attached (improvements and fixtures), and the bundle of legal rights.
Personal property (chattel): Movable items not permanently attached to land; transferred by a bill of sale, not a deed.
Fixture: Personal property attached so as to become real property and transfer with the land.
MARIA test for fixtures: Method of attachment, Adaptability, Relationship of parties, Intention, Agreement.
Fee simple absolute: The most complete ownership — absolute, of unlimited duration, freely transferable.
Life estate: An estate measured by someone's life; the life tenant cannot commit waste and the estate ends at death.
PETE (government powers): Police power, Eminent domain, Taxation, Escheat — only eminent domain pays the owner.
Police power: Regulation of land for public health, safety, and welfare — zoning and building codes, with no payment to the owner.
Eminent domain: Government taking of property for public use through condemnation, paying just compensation.
Escheat: Property reverts to the state when an owner dies with no will and no legal heirs.
Easement: A nonpossessory right to use another's land for a specific purpose, such as a driveway or utility line.
Easement appurtenant: Benefits an adjoining parcel (the dominant tenement) and runs with the land.
Encroachment: An unauthorized intrusion of an improvement onto another's land, revealed by a survey.
Encumbrance: Any claim, lien, charge, or right that limits an owner's title.
Metes and bounds: A legal description using distances (metes) and compass directions (bounds) from a point of beginning.
Rectangular (government) survey: Describes land by townships, ranges, and sections from principal meridians and base lines.
One section: One square mile = 640 acres; one thirty-sixth of a township.
One acre: 43,560 square feet.
Lot-and-block (recorded plat): Describes land by lot and block numbers on a recorded subdivision plat.
Severalty: Sole ownership by one person or entity.
Tenancy in common: Co-ownership with no survivorship; each owner holds an undivided, willable share.
Joint tenancy: Co-ownership with right of survivorship; requires the four unities of time, title, interest, and possession.
Four unities (PITT): Possession, Interest, Time, Title — required to create a joint tenancy.
Tenancy by the entirety (Virginia): Co-ownership for married couples with survivorship plus protection from one spouse's individual creditors.
Right of survivorship: A deceased co-owner's share passes automatically to the surviving co-owners, bypassing probate.
Deed: The written instrument that conveys title from grantor to grantee.
General warranty deed: Gives the most protection — the grantor warrants clear title against all defects, even pre-ownership ones.
Special (limited) warranty deed: Warrants title only against defects arising during the grantor's own ownership.
Quitclaim deed: Conveys only whatever interest the grantor has, with no warranties; used to clear a cloud on title.
Delivery and acceptance: Title passes when the deed is delivered by the grantor and accepted by the grantee — not on recording.
Constructive notice: Recording a deed gives the public legal notice of ownership and sets priority.
Title insurance: Protects the insured against loss from title defects existing before the policy date, such as liens or recording errors.
Chain of title: The recorded history of ownership of a parcel, traced through successive deeds.
Cloud on title: A claim or encumbrance that may impair title; often cleared with a quitclaim deed or a quiet-title action.
Adverse possession: Acquiring title by open, notorious, continuous, hostile, and exclusive possession for the statutory period.
Will vs. intestate: A will directs how property passes at death; intestate (no will) passes by state descent-and-distribution law.
Market value: The most probable price under fair, open-market conditions — an opinion of value.
Market value vs. price vs. cost: Value is an opinion of worth; price is what was actually paid; cost is what was spent to build.
Highest and best use: The legal, physically possible, financially feasible, and most profitable use of a site — the basis of value.
Principle of substitution: A buyer will pay no more than the cost of an equally desirable substitute property.
Sales comparison approach: Compares the subject to recent comparable sales, adjusting for differences. Best for homes.
Cost approach: Land value + cost to rebuild new − depreciation. Best for new or special-use property.
Income (capitalization) approach: Value = net operating income ÷ capitalization rate. Best for income-producing property.
Net operating income (NOI): Effective gross income minus operating expenses, before any mortgage payment.
Capitalization rate: NOI ÷ value; a higher cap rate signals more risk and a lower value.
Reconciliation: The appraiser weighs the three value indications into one final opinion — weighting, not averaging.
Appraisal: An impartial, supported opinion of value by a licensed appraiser as of a date, under USPAP.
Comparative market analysis (CMA): A licensee's value estimate from comparable sales to help price a listing — not a formal appraisal.
Depreciation (appraisal): Loss in value from physical deterioration, functional obsolescence, or external obsolescence.
Contract: A legally enforceable agreement between competent parties to do or refrain from a lawful act.
Essential elements of a contract: Mutual agreement (offer and acceptance), consideration, legal purpose, and competent parties.
Statute of frauds: Requires real estate sale contracts (and most leases over a year) to be in writing to be enforceable.
Void vs. voidable: Void = missing an essential element (no legal effect); voidable = a party may rescind (e.g., a minor's contract).
Bilateral vs. unilateral: Bilateral = a promise for a promise; unilateral = a promise in exchange for an act (e.g., an open listing).
Earnest money: A buyer's good-faith deposit, held in escrow and usually applied to the price at closing.
Contingency: A condition that must be met for the contract to become binding — financing, inspection, or appraisal.
Specific performance: A court order making a defaulting party complete the sale — available because land is unique.
Liquidated damages: A pre-agreed amount (often the earnest money) the parties accept as the remedy for a buyer's default.
Listing agreement: A contract employing a broker to find a buyer for the owner's property for compensation.
Exclusive right-to-sell listing: The listing broker earns the commission no matter who finds the buyer.
Exclusive agency listing: The broker earns the commission unless the owner finds the buyer themselves.
Open listing: Only the broker who actually finds the buyer earns the commission.
Net listing: The broker keeps any amount above the seller's set price — a conflict of interest (discouraged).
Agency: A fiduciary relationship in which an agent represents a principal in dealings with third parties.
Fiduciary duties (OLD CAR): Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care.
Confidentiality after the relationship ends: The duty of confidentiality survives termination of the agency relationship.
Principal vs. agent vs. customer: Principal = the client represented; agent = the licensee; customer = the unrepresented third party.
Express vs. implied agency: Express = created by a written or oral agreement; implied = created by the parties' conduct.
Procuring cause: The agent whose efforts mainly resulted in the sale — relevant to who earns the commission.
Counteroffer: A rejection of the original offer and a new offer back — terminates the prior offer.
Option contract: Gives a buyer the right to purchase within a set time for consideration; the seller cannot withdraw.
Fair Housing Act (1968): Bans discrimination in housing based on race, color, religion, national origin, sex, familial status, and disability.
Steering: Illegally guiding buyers toward or away from areas based on a protected class.
Blockbusting: Inducing panic selling by claiming a protected class is moving into a neighborhood.
Redlining: A lender refusing to lend or insure in an area based on its makeup — a fair-housing violation.
Reasonable accommodation: A policy change a housing provider must allow for a person with a disability (e.g., a service animal).
Reasonable modification: A physical change to a unit a disabled tenant may make (often at their own cost in private housing).
Antitrust — price fixing: Brokers agreeing to set commission rates is illegal; rates are always negotiable.
Lease (landlord/tenant): Conveys the right to use property for a term in exchange for rent; landlord = lessor, tenant = lessee.
Gross lease: The tenant pays a flat rent and the landlord pays the operating expenses.
Net lease: The tenant pays rent plus some or all of the property's operating expenses (taxes, insurance, maintenance).
Property management agreement: Employs a broker to manage an owner's property; the manager owes the owner fiduciary duties.
Trust (escrow) account: A separate account where a broker holds client funds; commingling with operating funds is prohibited.
Conversion: Using a client's escrow funds for the broker's own purposes — a serious license-law violation.
Material fact: Anything that would affect a buyer's decision or price; a licensee may not actively conceal or misrepresent it.
Latent defect: A hidden physical defect not discoverable by ordinary inspection; a licensee cannot misrepresent a known one.
Patent defect: An obvious defect a reasonable buyer could discover by ordinary inspection.
Caveat emptor (Virginia): Buyer beware — the Virginia seller advises due diligence rather than listing known defects.
Lead-based paint disclosure: For pre-1978 housing: disclose known lead paint, give the EPA pamphlet, and allow a 10-day test window for sales.
Lead-paint applicability: Applies to most housing built before 1978; the parties may agree in writing to a different inspection period.
Radon: An odorless radioactive gas from soil that can accumulate indoors; common in parts of Virginia.
Asbestos: A fibrous mineral in old insulation and flooring; remove or encapsulate to control fibers.
Mold: Grows in damp areas; may require disclosure and remediation.
Underground storage tank (UST): Can leak and contaminate soil and groundwater, creating cleanup liability.
CERCLA / Superfund: Federal law imposing liability for cleanup of hazardous-substance contamination on current and past owners.
Wetlands: Federally and state-regulated areas where development may require a permit.
Stigmatized property: Property with a non-physical condition (e.g., a past event) that may affect desirability; disclosure rules vary by state.
Megan's Law: Provides access to sex-offender registry information; licensees typically direct buyers to the registry.
Promissory note: The borrower's written promise to repay the loan; the evidence of the debt.
Deed of trust (Virginia): Virginia's security instrument: title goes to a neutral trustee until the loan is repaid, enabling a trustee's sale.
Mortgage vs. deed of trust: A mortgage has two parties and usually judicial foreclosure; Virginia's deed of trust adds a trustee and allows non-judicial sale.
Trustee's sale: Virginia's non-judicial foreclosure conducted by the trustee, typically faster than judicial foreclosure.
Conventional loan: Not government-insured; usually requires PMI when the LTV exceeds 80%.
FHA loan: Insured by the Federal Housing Administration; allows a lower down payment with mortgage insurance.
VA loan: Guaranteed by the Department of Veterans Affairs for eligible veterans; often 0% down.
Loan-to-value ratio (LTV): Loan amount ÷ value (or price); a higher LTV means more lender risk.
Private mortgage insurance (PMI): Insurance protecting the lender on a conventional loan, usually when the LTV is above 80%.
Discount points: Prepaid interest to lower the rate; one point = 1% of the loan amount.
RESPA: Requires settlement-cost disclosures (Loan Estimate, Closing Disclosure) and bans kickbacks on federally related loans.
TILA: The Truth in Lending Act — requires disclosing the cost of credit, including the APR.
Loan Estimate timing: Must be provided within three business days of a loan application.
Closing Disclosure timing: Must reach the borrower at least three business days before closing.
Settlement agent (CRESPA): The neutral party who conducts a Virginia closing, disburses funds, and records the deed.
Usury: Charging interest above the legal maximum rate.
Commission formula: Commission = sale price × commission rate.
Price for a target seller net: Price = net ÷ (1 − commission rate). A $282,000 net at 6% needs $300,000.
LTV formula: LTV = loan amount ÷ value (or price). An 80% LTV on a $300,000 home is a $240,000 loan.
Square feet to acres: Divide square feet by 43,560.
Annual property tax: Assessed value × tax rate (mills × 0.001), e.g., 18 mills = 0.018.
Income approach value: Value = net operating income ÷ capitalization rate.
Area of a rectangle: Length × width.
Virginia grantor's tax math: Value ÷ 500 × $0.50. On $300,000: 600 × $0.50 = $300.
Virginia recordation tax math: Value ÷ 100 × $0.25. On $300,000: 3,000 × $0.25 = $750.
Proration: Splitting taxes, rent, and interest by the days each party owns the property as of closing.
One mile in feet: 5,280 feet.
Profit / percentage of cost: Profit ÷ original cost = percent gain; sale price = cost × (1 + percent gain).
Discount points cost: Each point = 1% of the loan; 1.5 points on $425,000 = $6,375.
Half-acre in square feet: 43,560 ÷ 2 = 21,780 square feet.
Commission split: Apply each percentage in turn: total commission, then the brokerage split, then the agent's share.

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By Career EmployerUpdated Sep 12, 2026

200+ free Virginia Real Estate Exam flashcards — 4 ways to study

Virginia Real Estate Exam Flashcard of the DayNew daily

The classic card. Do you know this one?

Click Study Flashcards above to open the flashcard hub — 200 Virginia real estate cards you can flip, match, type, or quiz yourself on. Every card is drawn from the Virginia salesperson exam’s two portions, so you study exactly what the test measures.^[1] Pair them with our free practice test and study guide.

Virginia Real Estate Flashcard Study Modes

Flip mode lets you move through cards at your own pace and check yourself; Match times you as you pair terms with definitions; Type shows a definition and asks you to produce the term, so a front like Procuring cause has to come back exactly; Quiz turns the same 200 cards into multiple-choice questions with distractors pulled from the deck.

Free Virginia real estate exam flashcards from Career Employer — active recall for the VREB salesperson licensing exam

Why Flashcards Work for the Virginia Real Estate Exam

Virginia License Law & Practice is the largest section at 70 cards, and it drills the state-specific material the Virginia Real Estate Board enforces: agency status wording such as Standard agent (Virginia), escrow handling under Commingling (Virginia), and education timing on the card that asks When is PLE due? You also work through DPOR, VREB disciplinary powers, and the consequence framing of Missing the 30-hour PLE.

Contracts & Agency covers 22 cards on how deals are formed and who represents whom, with fronts such as Procuring cause, Net listing, and Earnest money. Property, Legal Descriptions & Use adds 20 cards on rights, limits, and land measurement, where Life estate, Police power, and One section sit alongside easement and fixture vocabulary.

Ownership, Transfer & Recording holds 17 cards on the instruments that move and cloud title, including Quitclaim deed, Chain of title, and Tenancy in common. Financing & Settlement follows with 16 cards on loan products and closing law, among them RESPA, Discount points, and Trustee’s sale.

Real Estate Math is 15 cards of formulas and conversions you should be able to reproduce without hesitating, such as LTV formula, Square feet to acres, and Proration. Disclosures & Environmental adds 14 cards on what must be revealed and what each hazard means, with Latent defect, Radon, and Megan’s Law among the fronts.

Property Value & Appraisal carries 13 cards on valuation reasoning, including Capitalization rate, Highest and best use, and Cost approach. Real Estate Practice, also 13 cards, covers fair housing violations and brokerage conduct, with Blockbusting, Steering, and Trust (escrow) account as typical fronts.

The Virginia exam rewards instant recall of the statutes and Board Regulations, the brokerage and disclosure rules, and math formulas.^[1] Spaced flashcards are the most efficient way to make that knowledge automatic. Used alongside our practice test and study guide, they turn review time into measurable progress.

Virginia Real Estate Flashcards by Content Area

The cards cover both portions of the exam. Drill the Virginia state law first — it is where most candidates lose points — then lock in the national content areas:^[3]

Virginia real estate flashcards by content area
Content area	What the cards cover
Virginia License Law & Practice	DPOR, the VREB, Code of Virginia 54.1, Board Regulations, brokerage relationships, escrow, the Recovery Fund, disclosure, fair housing, taxes
Property, Legal Descriptions & Use	Estates, fixtures, easements, government powers, legal descriptions
Ownership, Transfer & Recording	Co-ownership, tenancy by the entirety, deeds, recording, title insurance
Property Value & Appraisal	Value principles, the three approaches, CMA vs. appraisal
Contracts & Agency	Contract law, listings, fiduciary duties, dual representation
Real Estate Practice	Fair housing, trust funds, leases and management
Disclosures & Environmental	Material facts, latent defects, lead paint, radon, asbestos
Financing & Settlement	Notes, deeds of trust, loan types, RESPA, TILA, closing
Real Estate Math	Commission, LTV, taxes and mills, proration, grantor's & recordation tax, area

How to Get the Most Out of These Flashcards

Start with license law. Virginia License Law & Practice is 70 of the 200 cards, the biggest single block, and it holds the state rules that national real estate material never covers.
Type-drill the precise ones. Run Commingling (Virginia) and Procuring cause in Type, since those two reward exact wording and punish the vague recognition that Flip mode can hide.
Match the short vocabulary. Ownership terms like Severalty and Joint tenancy pair fast under the clock, so Match is the efficient way to build recall speed on one-word title and estate cards.
Move to the practice test when Quiz stops surprising you. Once multiple choice feels routine across the license law and contracts cards, test under exam conditions and send weak domains back to the study guide.
Keep a rotating cadence. Work one or two domains per session, then re-Flip part of the 70-card license block each time so the Virginia-specific rules stay sharp while the smaller domains cycle.

Virginia Real Estate Flashcards FAQ

Two hundred free Virginia real estate exam flashcards, weighted toward Virginia license law (DPOR and the VREB, Code of Virginia 54.1, brokerage relationships, escrow, the Recovery Fund, disclosure, fair housing, and deeds of trust) and covering all of the national content areas too. They're free with no account required.

References

1.Virginia Department of Professional and Occupational Regulation. “Real Estate Board.” DPOR (dpor.virginia.gov). ↑
2.Commonwealth of Virginia. “Code of Virginia Title 54.1, Chapter 21 — Real Estate Brokers and Salespersons.” law.lis.virginia.gov. ↑
3.PSI Services. “Virginia Real Estate Candidate Information Bulletin.” PSI / DPOR. ↑

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