Virginia State Real Estate Exam Practice Question
While acting as an agent to rent a property, a salesperson MUST ___.
Correct Answer: A
Rationale: In the role of an agent, transferring all monies received to the broker for deposit in an escrow fund is essential for ensuring proper handling and security of funds. This practice protects both the agent and the client, complying with legal and ethical standards.
Option B is incorrect; agents cannot dictate the form of payment accepted by property owners. Option C misrepresents the agent's responsibilities, as establishing an escrow account is typically a broker's duty, not the agent's. Option D, while good practice, does not fulfill the mandatory requirement of transferring funds to the broker, making it insufficient as a primary obligation.
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