Which statement is true if a broker is aware of an agent's wrongdoing?

When a broker is aware of an agent's wrongdoing, it is true that the board can fine any licensee involved. This means that both the agent and the broker could be held accountable for their actions. In the context of Virginia Real Estate License Law, brokers have a duty to supervise their agents and ensure compliance with regulations. If a broker is aware of unethical or illegal activities conducted by their agent, they may also face disciplinary action because they have a responsibility to address and rectify such behavior.

This principle is rooted in the idea of shared responsibility within the real estate profession, stressing that both the broker and the agent must adhere to appropriate standards of conduct. Essentially, the board holds both parties accountable to promote ethical practices within the industry and to protect the interests of clients and the public. Understanding this accountability helps reinforce the importance of overseeing compliance at all levels of real estate transactions.