LA STATE REAL EXAM – DONALDSON | LATEST UPDATE
State Senate - Commission member appointments are confirmed by the
Within 5 days - When the association of an associate broker or salesperson is terminated with their firm for any reason, the broker must return the license to the LREC:
...
State Senate - Commission member appointments are confirmed by the
Within 5 days - When the association of an associate broker or salesperson is
terminated with their firm for any reason, the broker must return the license to the
LREC:
It can be re-issued if the former licensee pays all fees and completes all continuing
education by March 31. - How can an expired license be reactivated?
Only in a rental trust account to pay current financial obligations of a client - A broker
can keep more than $2500 of his personal or company funds in an escrow account:
in writing - According to the license law, Listings must be
In negotiations between broker and seller - The amount of commission charged a client
is established:
Legal description of the property - All of the following are requirements to perfect a sale
in Louisiana EXCEPT:
all sponsoring brokers - It is the duty of __________ to be aware of any changes in the
License Law and the commission Rules and Regulations.
The property is owned by more than one person - Ownership in indivision means:
Undivided interest. - If two or more persons own the same piece of property, each as
an undivided share, this is referred to as a (an):
After 10 years if both (a) owners representing 2/3 of the land and (b) 2/3 of the owners
of the land agree - Subdivision regulations (private deed restrictions) may be modified
by those affected within what time period?
Showing property and responding to questions about the property from a person -
Which of the following is not a Ministerial act?
C - In Louisiana, a licensee cannot be a dual agent without a dual agency disclosure
signed A. before a brokerage agreement is entered into by the client
B. before the licensee acts as a dual agent
, C. both 1 and 2
D. before a purchase agreement is entered into by the clients
A fine of $2000 and a prison term of 5 years. - Which of the following is a sanction
possible by the disciplinary action of the LREC? .
150 hours of education excluding the salesperson hours, 30 of which must be in Broker
Responsibilities - Which of the following best describes the education requirements for
a broker applicant?
It can be re-issued if the former licensee pays all fees and completes all continuing
education by March 31. - How can an expired license be reactivated
Active Licensee - In order to sell, exchange, purchase, or lease real estate for another,
for compensation, you must be a (an):
Immediately. - A licensee should ensure any annotated offers signed by their
respective clients are returned
Automatically suspended - If a broker's license is revoked due to a violation of the
License Law, what happens to her salespeople?
may not do so. It is illegal to pay an unlicensed person for finding you business. - If you
wish to pay a fee or part of a fee earned to an unlicensed person for finding you
business, you:
Immediately. - Licensees are required to furnish to their clients a copy of any document
which the client has signed pertinent to a real estate transaction:
Is not required to provide any further explanation or information regarding mold. - A
licensee distributing a mold informational pamphlet:
The mbroker mmust mpresent mboth moffers mat mthe msame mtime mand mallow mthe mowner mto
mchoose mthe mbest mone. m- m mA mbroker mreceives man moffer mon ma mproperty mat m7PM mon
Always ma mviolation mof mthe mregulations m- m mFees mto mnon-licensees mfor mfinding mclients
mare:
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