Ace Your Virginia Real Estate Law Test 2026 – Unlock Your Property Potential!

When a licensee's real estate license is revoked due to the non-payment of funds, the law stipulates a specific penalty to ensure accountability and adherence to regulatory standards. In this particular scenario, the penalty for a licensee whose license is revoked following a fund payment is set at $500. This amount serves as a deterrent against non-compliance with the financial responsibilities that come with holding a real estate license.

The rationale behind the $500 penalty is to emphasize the importance of financial obligations within the real estate profession. Licensing authorities impose such penalties to encourage licensees to maintain compliance with all regulations, ensuring that they conduct their business responsibly and transparently. By operationalizing penalties, regulatory bodies protect the integrity of the real estate market and safeguard consumer interests.

Other amounts like $1,000 or $750 may not accurately reflect the established penalties for first-time violations or instances of revocation for non-payment. In some cases, the law may allow for a lack of additional penalties if the license is revoked and re-applied for under different circumstances, which is where options such as "No penalty" might come into play. However, in this question, the correct focus is on the specified $500 penalty, which is the clear and defined consequence under