Louisiana Real Estate Exam Questions | 50 Questions with 100% Correct Answers | Verified

Which of the following is NOT a sanction possible by the disciplinary action of the LREC? - ANS - A fine of $5000 and a prison term of 2 years Appeals of Louisiana Real Estate Commission findings are reviewable by: - ANS - The 19th Judicial District Court A licensee is found guilty at a Real Estate Commission hearing and has his license suspended. The licensee appeals the decision in court. Which of the following is true? - ANS - The licensee can list and sell during the appeal, but only if a stay of enforcement is granted The Commission is required by law to meet: - ANS - Quarterly Any corporation or partnership operating as a broker in the state of Louisiana must have a: - ANS - Qualifying Broker What is the minimum age required to receive a real estate license in Louisiana - ANS - 18 Which of the following parties is exempt from the requirements regarding real estate licensing? - ANS - A person who provides signs and websites for persons to sell their homes. If a real estate sales license is not renewed within 3 months of expiration, the licensee must: - ANS - Re-apply as an initial applicant What statement is true? - ANS - Licensees need 12 hours of continuing education each year (except the first). If a broker cannot resolve a dispute over a sales deposit: - ANS - He must give the money to the court or commission or to the property party upon a clear interpretation of the contract within 90 days.