LA Law Real Estate Exam Questions And
Correct Answers
Brad Broker is responsible to retain records for all real estate transactions he or any of his
sponsored licensees have appeared in a licensed capacity for - answer✔✔five years.
The parties to a real estate transaction want the deposit in an interest bearing CD. Which of the
following statements is true regarding this transaction? - answer✔✔The agent must get all
parties to agree in writing to this arrangement.
The revocation of the broker's license will cause which of the following - answer✔✔automatic
suspension of all salespeople's licenses
A donation at death is known as a - answer✔✔donation mortis causa
A personal servitude includes which of the following? - answer✔✔usufruct, habitation and right
of use
A licensee is working on a real estate sale with both the buyer and the seller. Which of the
following is true if the licensee is working with both the buyer and the seller legally? -
answer✔✔This is a disclosed dual agency.
How many education hours are required to apply for a salesperson's license? - answer✔✔90
hours
All real estate licenses that are not renewed expire on which date? - answer✔✔December 31st of
the year issued
The agency relationship a broker has with a seller - answer✔✔must be in writing
Which of the following is not a license? - answer✔✔Qualifying broker
Tax rates are always figured as - answer✔✔millages
A licensee has his own property for sale under a listing agreement with his broker. The broker
advertises the sale in the newspaper. Under these circumstances, which of the following is true? -
answer✔✔No disclosure of the licensee being an agent is required because the property is listed
with a broker.
Dual Agency is permitted - answer✔✔when both parties agree in writing
Payments from the real esate recovery fund for claims arising from the same transaction shall be
limited in the aggregate to - answer✔✔$20,000
When acting as a dual agent, signatures of the client's consent to representation as such must be
obtained - answer✔✔Both A and B.
An offer to purchase real estate is made to the seller for $250,000. The offer is not accepted.
Along with the offer is a $25,000 deposit. What is done with the deposit? - answer✔✔The
deposit is given back to the buyer.
Beth receives her initial license on March 1, 2008. Her license will expire on -
answer✔✔December 31, 2008
A corporate officer leases property owned by his firm for 2 years for $10,000 per month. Under
Louisiana License Law, which of the following is true? - answer✔✔He is exempt from licensing
since he is representing his company.
Agent Andy has been working with Buyer Brad in a transaction. No compensation was promised
to Andy if a sale is made. Does an agency relationship exist? - answer✔✔Yes. Agency can exist
even without payment or promise of compensation.
A delinquent licensee is given 3 months to renew their expired license - answer✔✔by submitting
an application for renewal and the required fees
New licensees are required to get how many hours of Post Licensing credit within 180 days of
receiving their license - answer✔✔45
The principal funding for the Real Estate Research and Education Fund is from -
answer✔✔licensees fees
An authentic act - answer✔✔requires a notary and 2 witnesses
A person who does not pass both portions of the licensing exam has how long to pass the failed
portion before having to retake the past portion? - answer✔✔1 year
A licensee must be notified of a hearing at least how many days in advance - answer✔✔20
A licensee must notify the commission of which of the following within 10 days? -
answer✔✔The licensee's business address has changed.
An agency agreement is between a broker and the - answer✔✔principal
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