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Louisiana Real Estate Licensing Test: Correctly Solved Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED| $9.27
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Louisiana Real Estate Licensing Test: Correctly Solved Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED|

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Louisiana Real Estate Licensing Test: Correctly Solved Exam *Q&A* (100% Correct) 2025/2026 |VERIFIED| Salespersons and associate brokers may only receive payments of commissions from? their sponsoring broker Salespersons and brokers are required to present all offers to principals as so...

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  • December 8, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • louisiana real estate licensing test correctly s

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  • Real Estate
  • Real Estate

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Louisiana Real Estate Licensing Test:
Correctly Solved Exam *Q&A* (100%
Correct) 2025/2026 |VERIFIED|
Salespersons and associate brokers may only receive payments of commissions from?

their sponsoring broker



Salespersons and brokers are required to present all offers to principals as soon as possible after they
have been submitted.

True



Under state licensing law, fully executed purchase or listing agreements must be delivered to all parties
within ___ days of all signatures being obtained on the document.

5



All sales escrow accounts shall include the wording "_____________", in their title in addition to the
name of the broker as licensed by the commission to do business.

Sales Escrow Account



What is it called when a broker puts a deposit in his personal account?

Co-mingling



What if a broker used a deposit to pay an electricity bill? What would this be called?

Conversion



Brokers are not to commingle their own funds with deposits received from or on behalf of principals to a
transaction, except that the broker may deposit up to $____ of his personal money in an escrow account
to avoid bank charges.

$2,500


1

, It is the responsibility of licensed salespersons and associate brokers to deliver all deposits to their
sponsoring broker. When should they do this?

Immediately upon receipt



If you close your escrow account down, how long do you have to notify the Commission?

10 days AFTER closing



Who holds the deposit?

Typically, the broker



The Louisiana Real Estate Recovery Fund was established to compensate any person who has suffered
monetary damages as a result of a licensee's violation of the license law as part of any transaction
involving the sale or lease of real property. This fund is maintained at a level of $________ with excess
funds transferred each year to the _____________ of the Commission.

$400,000

Research and Education Fund



Persons who ARE NOT eligible for Recovery Fund compensation include:

- The spouse of the judgment 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.



Persons who are eligible under the license law to place a claim with the commission may recover from
the fund an amount equal to the unsatisfied portion of the claimant's judgment or $_____ whichever is
less, and only to the extent and the amount reflected in the judgment as being actual damages.

$20,000



The $20,000 limit applies to claims including one transaction, while a $______ limit applies if two or
more transactions are included. The limit is the total that the commission will pay out for a licensee. The
number of claimants in each transaction does not affect the payment limits from the recovery fund.



2

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