Virginia State Real Estate Exam Practice Question
A principal broker is NOT responsible for ___.
Correct Answer: A
Rationale: A principal broker typically oversees the operations of a real estate office, which includes responsibilities such as managing licensees' advertisements (B) and ensuring proper handling of escrows (D). Additionally, having a policy and procedures manual (C) is essential for compliance and operational consistency. However, the approval of all final closing documents (A) is not a direct responsibility of the principal broker; this task is often delegated to licensed agents or attorneys involved in the transaction. Thus, option A accurately reflects a responsibility that is not typically assigned to the principal broker.
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