Louisiana Real Estate Exam Questions With 100% Verified Answers.
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Course
Louisiana Real Estate
Institution
Louisiana Real Estate
Louisiana Real Estate Exam Questions With
100% Verified Answers.
An applicant for a real estate license may continue to attempt to pass the licensing exam for a
period of - answer1 year
In Louisiana, sub agency is - answerAllowed only by a contractual agreement
No associate broker or salespers...
Louisiana Real Estate Exam Questions With
100% Verified Answers.
An applicant for a real estate license may continue to attempt to pass the licensing exam for a
period of - answer✔1 year
In Louisiana, sub agency is - answer✔Allowed only by a contractual agreement
No associate broker or salesperson license may be renewed until - answer✔The license of their
sponsoring broker has been renewed
All written offers to purchase real estate should be presented - answer✔Immediately
Corporate, limited liability company, and partnership brokers must retain copies of all real estate
transactions for a period of: - answer✔5 years
Licensees in the military are entitled to renewal of their licenses without penalty if application is
filed - answer✔Within six months following discharge
When a broker determines that a dispute exists regarding the funds held on deposit in an escrow
account, the broker must - answer✔Notify all parties of the dispute
To qualify for a deficiency judgment, a lender must sell the property at foreclosure for what
potion of its value? - answer✔2/3 of the appraised value
The minimum time required for notice to vacate a residential property for non-payment of rent is
- answer✔5 days
Highways, state parks, running water, territorial seas, and seashores are all examples of what
kind of things? - answer✔Public
How are members of the Real Estate Commission selected? - answer✔They are appointed by the
Governor and confirmed by the Senate
Errors and Omissions insurance is considered which type of insurance? - answer✔Malpractice
Insurance
Which of the following statements is NOT true regarding an individual real estate broker? -
answer✔The individual broker may be licensed as a qualifying broker for one corporation only
When a licensee is appointed to represent two clients in the same transaction, for example, the
buyer and the seller, this is called: - answer✔Dual agency
Escrow accounts should be: - answer✔Non-interest bearing, unless all parties otherwise agree
When must a licensee report a change of address to the Commission? - answer✔Within 10 days
In designated agency, a licensee is: - answer✔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: - answer✔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? -
answer✔12 hours
May a licensee show the same home to several buyers without violating his agency duties to each
buyer? - answer✔Yes
The word things is used in Louisiana to refer to: - answer✔Property
In Louisiana we often use which of the following terms to refer to real estate? -
answer✔Immovables
Brokers are limited to what amount of personal funds in an escrow account? - answer✔$2,500
Does Louisiana require written leases? - answer✔No
Which of the following is a ministerial act? - answer✔Referral to another broker
If a licensee is indicted for something that involves a real estate transaction that the licensee was
involved in, the licensee must report it to the Commission: - answer✔within 10 days
Who does the designating in designated agency? - answer✔The broker
Licensees must provide copies of any documents signed by their principal in a real estate
transaction: - answer✔Immediately
Private things are owned by: - answer✔Individuals or corporations
An example of a common thing is: - answer✔Air
All applicants for a Louisiana real estate license must complete an approved course of study in
subjects such as Louisiana Real Estate Licensing Law consisting of at least: - answer✔30 hours
Which of the following statements is true?
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