PSI Virginia Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the PSI Virginia Real Estate Exam with comprehensive quizzes. Study using flashcards and multiple-choice questions, complete with hints and explanations. Ace your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the maximum total payment for multiples in a single transaction from the TRF?

$25,000
$40,000
$50,000
$75,000

The correct answer is: $50,000

The correct answer is based on the limits set by the Virginia Tax Relief Fund (TRF) regarding maximum payments for multiple properties in a single transaction. The TRF provides certain financial assistance and tax relief efforts designed to alleviate the financial burden on homeowners within specific parameters. For multiple properties in a single transaction, the TRF allows for a maximum total payment of $50,000. This cap is established to ensure that assistance is distributed in a manner that is manageable for the fund while still providing significant help to homeowners. Understanding this limit is essential for real estate professionals, as it directly impacts negotiations and financial planning for clients seeking assistance through the TRF.