Louisiana Real Estate Review Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Louisiana Real Estate
Institution
Louisiana Real Estate
When must the Commission be notified of the closing of an Escrow or Rental Trust account?
Select one:
a. Within 5 days
b. 10 days after closing the escrow.
c. Commission does not have to be notified.
d. Within 15 days. - b
An applicant for a brokers license MUST:
Select one:
a. Have been an...
Louisiana Real Estate Review
When must the Commission be notified of the closing of an Escrow or Rental Trust account?
Select one:
a. Within 5 days
b. 10 days after closing the escrow.
c. Commission does not have to be notified.
d. Within 15 days. - b
An applicant for a brokers license MUST:
Select one:
a. Have been an active agent for at least five years.
b. Have been an active agent for at least four years.
c. Have completed at least one year of college credit in real estate.
d. Be at least twenty-five years old. - 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
Every applicant for a license shall submit a sworn statement attesting that he/she has knowledge of an
understands the provisions of:
Select one:
a. The Fair Housing Act of 1968 only
b. The Louisiana Equal Housing Opportunity Act only
,c. Both the Fair Housing Act of 1968 and the Louisiana Equal Housing Opportunity Act
d. Neither the Fair Housing Act of 1968 and the Louisiana Equal Housing Opportunity Act - c
Real Estate licensing shall be required in which the following situations?:
Select one:
a. A trustee selling under a mortgage.
b. An attorney required by a client in legal representation.
c. A Sherriff selling property at a foreclosure sale.
d. A father selling a property for his college-aged son. - d
Which of the following may NOT sell real estate without a license?
Select one:
a. Receiver in Bankruptcy
b. Trustee
c. Sheriff
d. Unlicensed assistant to a licensed real estate agent. - d
An original applicant for a Broker's license MUST:
Select one:
a. Have completed 90 hours of approved instruction.
b. Have lived in this state at least six months.
c. Have completed 150 hours of approved instruction.
d. Be an agent for 1 year - c
All renewals MUST show proof of:
Select one:
a. 12 hours of continuing education for the preceding year.
, b. 10 hours of continuing education for the preceding year.
c. 6 hours of continuing education for the preceding year.
d. 8 hours of continuing education for the preceding year. - a
If a Real Estate agent is sued over a Real Estate transaction, it should be reported within ____ days to the
Commission.
Select one:
a. three
b. five
c. ten
d. thirty - c
After a Real Estate License has been sent to the Commission for transfer, the licensee MAY:
Select one:
a. Continue selling for former broker for 30 more days.
b. Immediately begin selling for new sponsoring broker.
c. Wait 30 days then begin selling again.
d. Wait for the new license to be issued under the new sponsoring broker. - d
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
A delinquent licensee who has NOT renewed by March 31st MUST:
Select one:
a. Take all educational hours again.
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