Louisiana real estate - Study guides, Class notes & Summaries

How long must brokers keep real estate transactions records? - 5 (five) years What is right of the commission to allow licensees in other states to receive a license in on state if that state allows our licensees the same privilege? - Reciprocity Subject-to - The buyer acknowledges the debt and agrees to pay the debt, but if the buyer defaults, the seller is liable for repayment of the debt. Real Estate Commission members serve - 6 (six) year terms Members of The LA Real Estate Commission ...

The Commission has power to require brokers to maintain and retain records of all real estate transactions in which they were involved for up to ___ years. - 5 Persons who ARE NOT eligible for Recovery fund compensation include: - -The spouse of the judgement debtor or personal rep of each spouse. -A licensed broker or salesperson who acted as a principal or an agent in the transaction which is the subject of the claim. All sales escrow accounts shall include the wording "_____________",...

Louisiana Real Estate - State Portion License Exam/ 190 Qs & Ans/ . Terms like: Primary Purpose of Louisiana License Law is to - Answer: Protect the public The LA Real Estate Cojommission consists of - Answer: 11 (eleven) members To confirm commission appointments, the Governor must submit names to - Answer: The Senate

Louisiana Real Estate Practice Exams (National) Questions With 100% Verified Answers. Real property can be converted to personal property by: - answerseverance Legal descriptions using the government survey system are NOT generally used in: - answerthe original 13 states Although states make specific laws governing water rights and the rights in land that borders water, most states generally follow one of two basic doctrines regarding water rights. In many states, the common law doctrine...

©BRAINBARTER 2024/2025 Louisiana Real Estate - State Portion License Exam Questions With 100% Verified Answers. Primary Purpose of Louisiana License Law is to - answerProtect the public The LA Real Estate Commission consists of - answer11 (eleven) members To confirm commission appointments, the Governor must submit names to - answerThe Senate Real Estate Commission members serve - answer6 (six) year terms Members of The LA Real Estate Commission must be - answerQualified electors of the...

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 associat...

Enacting real estate laws in Louisiana is the job of the: Select one: a. Louisiana Board of Realtors b. Louisiana State Legislature c. Louisiana Real Estate Commission d. Louisiana Real Estate License Bureau -:- B Applicants have how long to find a sponsoring broker after passing the State exam? Select one: a. Must have broker before taking exam. b. Six months c. 90 days d. 60 days -:- c 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 Excel! 2 0 2 4 /2025 | © copyright | Th...

a person who holds a broker's license, and who is exclusively affiliated with, and sponsored by, another licensed real estate broker to participate in any activity described in this section - Associate broker an agreement whereby one party, the franchisor, authorizes a real estate broker, the franchisee, to use registered trademarks or other advertising tools to create a common identity among several brokers nationally, or regionally, for marketing purposes - Franchise agreement an indiv...

Louisiana Real Estate Exam Questions and Answers 100% Pass The Commission is comprised of how many members? - Answer- 11 Commission members are appointed by who? - Answer- The governor Each appointment to the Commission shall be for a __ year term. No commissioner may serve more than that. - Answer- 6 The Commission must meet ______. - Answer- quarterly A minimum of __ members is required for a ______ to conduct business. - Answer- 5 quorum The Commission may meet more frequently if suc...

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 salesperson license may be renewed until - answerThe license of their sponsoring broker has been renewed All written offers to purchase real estate should be presented - answerImmediately Corporate, limited ...