Which of the following statements is true regarding testing for real estate licensing?
An application for licensing must be approved prior to an
... [Show More] applicant taking the real estate
licensing examination.
An applicant for real estate licensing must pass the licensing exam prior to applying for a license.
The real estate examination may be taken only after the broker sponsorship affidavit is submitted
to the LREC.
A real estate license will not be issued until 90 days after the examination has been passed. -
CORRECT ANSWER An application for licensing must be approved prior to an applicant taking
the real estate licensing examination.
Licensees receiving written offers in cooperative transactions must annotate the offer to indicate:
The time and date the offer was received
The interest rate
The commission split
The appraised value of the property - CORRECT ANSWER The time and date the offer was
received
An olographic will is one that is:
Handwritten and signed by the testator
Prepared by an attorney or notary
Certified by the Secretary of State
Recorded at the court house - CORRECT ANSWER Handwritten and signed by the testator
Which of the following is NOT considered to be a psychological impact?
Cracked slab
AIDS
Murder
Suicide - CORRECT ANSWER cracked slab
If an applicant does not pass the licensing exam within the required time, the applicant must:
Re-apply for the exam and receive a new exam authorization
Get permission from their sponsoring broker to take the exam at a later date
Request a refund for the licensing and exam fees paid
Wait six months before requesting a new exam authorization - CORRECT ANSWER Re-apply
for the exam and receive a new exam authorization
The right of the government to regulate land use through zoning is called:
Police powers
Escheat
Zonation
Eminent domain - CORRECT ANSWER police powers
Associate brokers and salespersons may not be sponsored by more than:
One sponsoring broker
Two sponsoring brokers
Three sponsoring brokers
Four sponsoring brokers - CORRECT ANSWER one sponsering broker
How many escrow accounts may a resident broker have at one time?
One or more
Only one
No more than two
No more than three - CORRECT ANSWER one or more
Which of the following is a ministerial act?
Referral to another broker
Taking a listing agreement
Showing a home to a prospective buyer
Agreeing to write an offer on behalf of a buyer - CORRECT ANSWER Referral to another
broker
In Louisiana, liens are also referred to as:
Privileges
Deficiencies
Collateral
Judgments - CORRECT ANSWER priviledges
All applicants for a Louisiana real estate license must complete an approved course of study in
subjects such as Louisiana Real Estate Licensing Law consisting of at least:
30 hours
50 hours
90 hours
45 hours - CORRECT ANSWER 30 hours
All printed advertising must include:
The month and year the advertising was printed, published, or distributed
The name of the listing agent
The name of the seller
The age of the property - CORRECT ANSWER The month and year the advertising was printed,
published, or distributed [Show Less]