Louisiana Real Estate Exam Questions & Answers Update ( A+ GRADED 100% VERIFIED)

Louisiana Real Estate Exam Questions & Answers Update ( A+ GRADED 100% VERIFIED) Licenses issued by the LREC are classified as? - ANSWER -Active or Inactive Exemptions from Licensing: ______ engaged in the transfer of real estate interests as part of other services provided for their clients. - ANSWER -Attorneys A ______, ______, or __________ is a business entity, which has been issued a license by the State to function as a broker. - ANSWER Corporate, partnership, or limited liability company broker Furthermore, upon dissolution of or termination by the corporation or partnership, the broker must return the licenses of every associate broker and salesperson sponsored by the corporation or partnership within ___ days of the dissolution or termination. - ANSWER -10 To be eligible to apply for a broker's license, the applicant must hold an active salesperson license for a minimum of __ years prior to application. - ANSWER -4 Before applying for a broker's license, anyone accruing time prior to January 1, 2009, shall have to serve as a salesperson for only __ years. - ANSWER -2 Before applying for a broker's license, the applicant must show evidence of completion of ___ hours of current educational instruction in real estate courses approved by the real estate commission. At least ___ of those hours must be in courses emphasizing broker's responsibilities. - ANSWER -150 30 Each person obtaining an initial salesperson's license shall complete ___ post-license education hours within ___ days after the initial license date. - ANSWER -45 180 Post-license education hours may be used to satisfy __ hours of the __ hour annual continuing education requirement. - ANSWER -8 12 Inactivity for 1 to 3 years - ANSWER -20 hours of continuing ed Inactivity for 3 to 5 years - ANSWER -40 hours of continuing ed ___ hours of continuing ed is required of all licensees. Broken down into ___ classes. - ANSWER -12 4 The transfer of active salesperson and broker licenses must be processed through the LREC. Salespersons must request that their present sponsoring broker return their license to the real estate commission. Their sponsoring broker is required to comply with the request within ___ days. - ANSWER -5 One of the major powers of the Commission is to censure, suspend, or revoke the licenses of brokers, salespersons and registered timeshare interest salespersons for cause. - ANSWER - If charges are brought against a licensee following a complaint and subsequent investigation, a written notice of the charges must be received by the licensee, at least ___ days prior to his/her scheduled hearing before the Commission. The licensee's broker sponsoring broker must be notified of the charges and the scheduled hearing as well. The hearing may be an ______ hearing or formal _____ hearing. - ANSWER -20 days Informal adjudicatory or formal adjudicatory The broker's name and telephone number must appear in all advertising. - ANSWER - All advertising must represent the property accurately. - ANSWER - Licensed brokers or salespersons advertising property, which they own, must include the term _______ in all printed and other materials. - ANSWER -owner/agent All advertisements of residential property must have a _____ that the advertisement is published or distributed on. - ANSWER -date If the advertisement is published in a magazine or newspaper the date of the publication is sufficient. Brokers affiliated with franchises must include what in all advertising? - ANSWER -The names of both the franchise and the broker Salespersons and associate brokers may only receive payments of commissions from? - ANSWER -their sponsoring broker