Louisiana Real Estate - State Portion
License Exam
Primary Purpose of Louisiana License Law is to - >>>>Protect the public
The LA Real Estate Commission consists of - >>>>11 (eleven) members
To confirm commission app
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Louisiana Real Estate - State Portion
License Exam
Primary Purpose of Louisiana License Law is to - >>>>Protect the public
The LA Real Estate Commission consists of - >>>>11 (eleven) members
To confirm commission appointments, the Governor must submit names to - >>>>The Senate
Real Estate Commission members serve - >>>>6 (six) year terms
Members of The LA Real Estate Commission must be - >>>>Qualified electors of the State of
LA
Citizens of the State of LA
In business as a Broker for at least 5 years
How many members of the commission constitute a Quorum? - >>>>5 (five)
How many times is the commission REQUIRED to meet? - >>>>Quarterly
How many Commissiion meetings per month? - >>>>2 (two)
Application by _ members is required for additional meetings - >>>>3 (three)
How much are Commission members paid for attending commission meetings? - >>>>$50 plus
actual expenses
Where is the commission located? - >>>>Baton Rouge
The Commission has the power and authority to-- - >>>>Regulate the issuance of licenses,
registrations and certificates
Promulgate the rules and bylaws for the enforcement of the license law
Appoint an executive director
Etc.
What is right of the commission to allow licensees in other states to receive a license in on state
if that state allows our licensees the same privilege? - >>>>Reciprocity
What is a requirement for out of state broker cooperation? - >>>>One copy of the cooperating
agreement must be filed with the commission
How long must brokers keep real estate transactions records? - >>>>5 (five) years
When can the Commission inspect a Broker's records? - >>>>Between 9AM and 4PM,
Saturdays, Sundays, and legal holidays excluded.
The commission may, on its own motion investigate licensee or personas acting in such capacity
- >>>>True
The Commission shall upon verified complaint in writing investigate licensees. - >>>>True
The Commission may subpoena a Broker's records - >>>>True
Before a hearing the Commission must notify a licensee at least how many days in advance? -
>>>>20 (twenty) days in advance
The Commission may subpoena unlicensed people? - >>>>True
A licensee's license is automatically revoked when money is paid out of the recovery because of
the actions of the licensee? - >>>>True
A license found guilty at a hearing may have his or her license revoked? - >>>>True
A hearing is held and Broker A has his license revoked. Broker A appeals his revocation in
court. During the trial Broker A lists a property for sale. Is this Legal? - >>>>It is legal if Broker
A requested and OBTAINED a stay of enforcement
An appeal of a court's decision to a higher court requires what? - >>>>The licensee to put up a
suspensive appeal bond.
The Court can fine an individual up to $2000 or imprison them for up to 5 years for a violation of
license law? - >>>>True
Guaranteeing future profits can-- - >>>>Get a licensee's license suspended or revoked.
Any final conviction for a felony against a licensee must be reported to the LA Real Estate
Commission? - >>>>True
A licensee indicted for violating the Fair Housing Act - >>>>Will automatically undergo
investigation.
The Real Estate COMMISSION can fine up to $5000? - >>>>True
An unlicensed person attempts to list several properties for sale in her subdivision. Nobody
agreed to list his or her properties for sale. What does this mean? - >>>>This is a violation of the
license law.
Property managers who work on a commission basis are required to have a license? - >>>>True
A person licensed as a broker but not a apart of a partnership or limited liability company is
known as a _ - >>>>Individual Broker
A broker designated by a corporation to be the representative before the commission is known as
- >>>>The Qualifying Broker
A Broker that work for another broker is called - >>>>An associate broker
A licensee that is not called an associate broker that is sponsored by a broker is called a -
>>>>Salesperson
People who sell timeshares are called - >>>>Timeshare Registrants
Does having a criminal record make you ineligible for a license? - >>>>No, but depending on
your individual criminal record it can be grounds for refusal of a license.
Broker applicants must have been a SALESPERSON for - >>>>4 (four) years
A Broker must have how many hours of pre-license education? - >>>>150 hours
30 hours of a Brokers 150 hours must be in Broker Responsibilities? - >>>>True
Salesperson applicant must have 90 hours of classroom hours - >>>>True
Any license not renewed by Jan. 1 of each year is considered - >>>>Expired
A broker must have written authority from a home owner to advertise? - >>>>True
All printed advertisements for the sale of RESIDEN
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