Louisiana Real Estate - State Portion License
Exam Questions With 100% Verified
Answers.
Primary Purpose of Louisiana License Law is to - answer✔Protect the public
The LA Real Estate Commission consists of - answer✔11 (eleven) members
To confirm commission appointments, the Governor must submit names to - answer✔The Senate
Real Estate Commission members serve - answer✔6 (six) year terms
Members of The LA Real Estate Commission must be - answer✔Qualified electors of the State
of LA
Citizens of the State of LA
In business as a Broker for at least 5 years
How many members of the commission constitute a Quorum? - answer✔5 (five)
How many times is the commission REQUIRED to meet? - answer✔Quarterly
How many Commissiion meetings per month? - answer✔2 (two)
Application by _ members is required for additional meetings - answer✔3 (three)
How much are Commission members paid for attending commission meetings? - answer✔$50
plus actual expenses
Where is the commission located? - answer✔Baton Rouge
The Commission has the power and authority to-- - answer✔Regulate the issuance of licenses,
registrations and certificates
Promulgate the rules and bylaws for the enforcement of the license law
Appoint an executive director
Etc.
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? - answer✔Reciprocity
What is a requirement for out of state broker cooperation? - answer✔One copy of the
cooperating agreement must be filed with the commission
How long must brokers keep real estate transactions records? - answer✔5 (five) years
When can the Commission inspect a Broker's records? - answer✔Between 9AM and 4PM,
Saturdays, Sundays, and legal holidays excluded.
The commission may, on its own motion investigate licensee or personas acting in such capacity
- answer✔True
The Commission shall upon verified complaint in writing investigate licensees. - answer✔True
The Commission may subpoena a Broker's records - answer✔True
Before a hearing the Commission must notify a licensee at least how many days in advance? -
answer✔20 (twenty) days in advance
The Commission may subpoena unlicensed people? - answer✔True
A licensee's license is automatically revoked when money is paid out of the recovery because of
the actions of the licensee? - answer✔True
A license found guilty at a hearing may have his or her license revoked? - answer✔True
A hearing is held and Broker A has his license revoked. Broker A appeals his revocation in
court. During the trial Broker A lists a property for sale. Is this Legal? - answer✔It is legal if
Broker A requested and OBTAINED a stay of enforcement
An appeal of a court's decision to a higher court requires what? - answer✔The licensee to put up
a suspensive appeal bond.
The Court can fine an individual up to $2000 or imprison them for up to 5 years for a violation of
license law? - answer✔True
Guaranteeing future profits can-- - answer✔Get a licensee's license suspended or revoked.
Any final conviction for a felony against a licensee must be reported to the LA Real Estate
Commission? - answer✔True
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Brainbarter. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
