Donaldson LA License Law Questions & Answers 100% Correct!!
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Course
Donaldson LA License Law
Institution
Donaldson LA License Law
In Louisiana, a "licensee" is - ANSWER-any person issued a license by the commission as a real estate salesperson.
-any person issued a license by the commission as a real estate broker.
Responding to a phone inquiry concerning the price of a property you have listed - ANSWERis a ministerial ac...
Donaldson LA License Law Questions & Answers
100% Correct!!
In Louisiana, a "licensee" is - ANSWER-any person issued a license by the commission as a real estate
salesperson.
-any person issued a license by the commission as a real estate broker.
Responding to a phone inquiry concerning the price of a property you have listed - ANSWERis a
ministerial act
Acting as a dual agent, licensees shall not disclose - ANSWER-confidential information about either
client.
-a price other than the listed price the seller may accept.
-the price the buyer is willing to pay.
Responding to an inquiry about the property's price at an open house - ANSWERis a ministerial act.
A dual agent in Louisiana must - ANSWERexplain closing costs and procedures.
If one client does not consent to dual agency in a Louisiana transaction, - ANSWERthe licensee must
give a written disclosure to both clients to receive a referral fee for the one withdrawing.
"Ministerial acts" in Louisiana law do not include - ANSWERwriting an offer to purchase real estate.
A licensee named by the broker as the agent of a client is the - ANSWERdesignated agent
Promoting the best interests of a person is a duty performed by a licensee representing the -
ANSWERclient
, A dual agent in Louisiana - ANSWERdoes not terminate any agency relationship by making the
required discloures.
In Louisiana Agency Law, the term "Broker" means - ANSWERany person licensed by the Louisiana
Real Estate Commission as a real estate broker.
In Louisiana, any agency relationship is determined to have been created by - ANSWERworking as a
designated agent.
A person who is not represented by, but for whom the licensee is performing ministerial acts is a -
ANSWERcustomer
A relationship in which a real estate broker or licensee represents a client by the client's consent in
an immovable property transaction is referred to as - ANSWERagency
When representing a client, licensees - ANSWERshall treat all customers honestly and fairly and may
perform ministerial acts.
One who engages the professional advice and services of a licenseeas his agent is a - ANSWERclient
If a licensee is not liable for false information provided by a customer - ANSWERit does not change
his duty as to misrepresentation of material information.
A licensee will not be liable to a customer for providing false information to the customer - ANSWERif
the licensee had actual knowledge the information was false.
A contractual relationship between a broker and a client under which one or more licensees affiliated
with the broker are designated as agents of the client is - ANSWERdesignated agency
A licensee is liable to a client for false information unless - ANSWER- the false information was
provided by a customer.
- the licensee did not know the information was false.
- the licensee should not have known the information was false.
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