An applicant for a real estate license may continue to attempt to pass the licensing exam for a
period of - CORRECT ANSWER 1 year
In Louisiana, sub
... [Show More] agency is - CORRECT ANSWER Allowed only by a contractual agreement
No associate broker or salesperson license may be renewed until - CORRECT ANSWER The
license of their sponsoring broker has been renewed
All written offers to purchase real estate should be presented - CORRECT ANSWER
Immediately
Corporate, limited liability company, and partnership brokers must retain copies of all real estate
transactions for a period of: - CORRECT ANSWER 5 years
Licensees in the military are entitled to renewal of their licenses without penalty if application is
filed - CORRECT ANSWER Within six months following discharge
When a broker determines that a dispute exists regarding the funds held on deposit in an escrow
account, the broker must - CORRECT ANSWER Notify all parties of the dispute
To qualify for a deficiency judgment, a lender must sell the property at foreclosure for what
potion of its value? - CORRECT ANSWER 2/3 of the appraised value
The minimum time required for notice to vacate a residential property for non-payment of rent is
- CORRECT ANSWER 5 days
Highways, state parks, running water, territorial seas, and seashores are all examples of what
kind of things? - CORRECT ANSWER Public
How are members of the Real Estate Commission selected? - CORRECT ANSWER They are
appointed by the Governor and confirmed by the Senate
Errors and Omissions insurance is considered which type of insurance? - CORRECT ANSWER
Malpractice Insurance
Which of the following statements is NOT true regarding an individual real estate broker? -
CORRECT ANSWER The individual broker may be licensed as a qualifying broker for one
corporation only
When a licensee is appointed to represent two clients in the same transaction, for example, the
buyer and the seller, this is called: - CORRECT ANSWER Dual agency
Escrow accounts should be: - CORRECT ANSWER Non-interest bearing, unless all parties
otherwise agree
When must a licensee report a change of address to the Commission? - CORRECT ANSWER
Within 10 days
In designated agency, a licensee is: - CORRECT ANSWER Designated by a broker to represent
a particular client
Upon determination that a dispute exists regarding an escrow account, the broker must do all of
the following EXCEPT: - CORRECT ANSWER Keep the funds in his personal account until the
dispute has been settled
How many hours of continuing education is required for renewal of a real estate license? -
CORRECT ANSWER 12 hours
May a licensee show the same home to several buyers without violating his agency duties to each
buyer? - CORRECT ANSWER Yes
The word things is used in Louisiana to refer to: - CORRECT ANSWER Property [Show Less]