Louisiana Real Estate Exam Latest 2024/2025 Updated Questions and Answers Guaranteed 100% Success.
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Course
Louisiana Real Estate
Institution
Louisiana Real Estate
When a licensee is appointed to represent two clients in the same transaction, for example, the buyer
and the seller, this is called: - Dual agency
When a broker determines that a dispute exists regarding the funds held on deposit in an escrow
account, the broker must - Notify all parties of the...
Louisiana Real Estate Exam
When a licensee is appointed to represent two clients in the same transaction, for example, the buyer
and the seller, this is called: - Dual agency
When a broker determines that a dispute exists regarding the funds held on deposit in an escrow
account, the broker must - Notify all parties of the dispute
Which of the following statements is NOT true regarding an individual real estate broker? - The
individual broker may be licensed as a qualifying broker for one corporation only
No associate broker or salesperson license may be renewed until - The license of their sponsoring
broker has been renewed
Corporate, limited liability company, and partnership brokers must retain copies of all real estate
transactions for a period of: - 5 years
Licensees in the military are entitled to renewal of their licenses without penalty if application is filed -
Within six months following discharge
To qualify for a deficiency judgment, a lender must sell the property at foreclosure for what potion of its
value? - 2/3 of the appraised value
The minimum time required for notice to vacate a residential property for non-payment of rent is -
5 days
All written offers to purchase real estate should be presented - Immediately
, Highways, state parks, running water, territorial seas, and seashores are all examples of what kind of
things? - Public
Errors and Omissions insurance is considered which type of insurance? - Malpractice Insurance
In Louisiana, sub agency is - Allowed only by a contractual agreement
An applicant for a real estate license may continue to attempt to pass the licensing exam for a period of -
1 year
Escrow accounts should be: - Non-interest bearing, unless all parties otherwise agree
When must a licensee report a change of address to the Commission? - Within 10 days
In designated agency, a licensee is: - Designated by a broker to represent a particular client
Upon determination that a dispute exists regarding an escrow account, the broker must do all of the
following EXCEPT: - Keep the funds in his personal account until the dispute has been settled
How many hours of continuing education is required for renewal of a real estate license? - 12
hours
May a licensee show the same home to several buyers without violating his agency duties to each
buyer? - Yes
The word things is used in Louisiana to refer to: - Property
In Louisiana we often use which of the following terms to refer to real estate? - Immovables
Brokers are limited to what amount of personal funds in an escrow account? - $2,500
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