LOUISIANA REAL ESTATE EXAM SCRIPT 2025/2026 QUESTIONS
WITH ANSWERS GUARANTEE A+
✔✔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. - ✔✔20 days
Informal adjudicatory or formal adjudicatory
✔✔The broker's name and telephone number must appear in all advertising. - ✔✔
✔✔All advertising must represent the property accurately. - ✔✔
✔✔Licensed brokers or salespersons advertising property, which they own, must
include the term _______ in all printed and other materials. - ✔✔owner/agent
✔✔All advertisements of residential property must have a _____ that the advertisement
is published or distributed on. - ✔✔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? - ✔✔The
names of both the franchise and the broker
✔✔Salespersons and associate brokers may only receive payments of commissions
from? - ✔✔their sponsoring broker
✔✔Salespersons and brokers are required to present all offers to principals as soon as
possible after they have been submitted. - ✔✔
✔✔Under state licensing law, fully executed purchase or listing agreements must be
delivered to all parties within ___ days of all signatures being obtained on the
document. - ✔✔5
✔✔All sales escrow accounts shall include the wording "_____________", in their title in
addition to the name of the broker as licensed by the commission to do business. -
✔✔Sales Escrow Account
✔✔What is it called, when a broker puts a deposit in his personal account? - ✔✔co-
mingling
✔✔What if a broker used a deposit to pay an electricity bill?
, What would this be called? - ✔✔Conversion
✔✔Brokers are not to commingle their own funds with deposits received from or on
behalf of principals to a transaction, except that the broker may deposit up to $____ of
his personal money in an escrow account to avoid bank charges. - ✔✔$2,500
✔✔It is the responsibility of licensed salespersons and associate brokers to deliver all
deposits to their sponsoring broker. When should they do this? - ✔✔Immediately upon
receipt
✔✔If you close your escrow account down. How long do you have to notify the
Commission? - ✔✔10 days AFTER closing.
✔✔Who holds the deposit? - ✔✔Typically, the broker
✔✔The Louisiana Real Estate Recovery Fund was established to compensate any
person who has suffered monetary damages as a result of a licensee's violation of the
license law as part of any transaction involving the sale or lease of real property. This
fund is maintained at a level or $________ with excess funds transferred each year to
the _____________ of the Commission. - ✔✔$400,000
Research and Education Fund
✔✔Persons who ARE NOT eligible for Recovery fund compensation include: - ✔✔-The
spouse of the judgement debtor or personal rep of each spouse.
-A licensed broker or salesperson who acted as a principal or an agent in the
transaction which is the subject of the claim.
✔✔Persons who are eligible under the license law to place a claim with the commission
may recover from the fund an amount equal to the unsatisfied portion of the claimant's
judgment or $_____ whichever is less, and only to the extent and the amount reflected
in the judgment s being actual damages. - ✔✔$20,000
✔✔The $20,000 limit applies to claims including one transaction, while a $______ limit
applies if two or more transactions are included. The limit is the total that the
commission will pay out for a licensee. The number of claimants in each transaction
does not affect the payment limits from the recovery fund. - ✔✔$50.000
✔✔If the Commission pays any amount from the fund to settle a claim on behalf of a
licensee, the broker's or salesperson's license is? - ✔✔Automatically revoked.
✔✔The License Law mandates that all active licensees must carry what? - ✔✔errors
and omissions insurance
WITH ANSWERS GUARANTEE A+
✔✔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. - ✔✔20 days
Informal adjudicatory or formal adjudicatory
✔✔The broker's name and telephone number must appear in all advertising. - ✔✔
✔✔All advertising must represent the property accurately. - ✔✔
✔✔Licensed brokers or salespersons advertising property, which they own, must
include the term _______ in all printed and other materials. - ✔✔owner/agent
✔✔All advertisements of residential property must have a _____ that the advertisement
is published or distributed on. - ✔✔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? - ✔✔The
names of both the franchise and the broker
✔✔Salespersons and associate brokers may only receive payments of commissions
from? - ✔✔their sponsoring broker
✔✔Salespersons and brokers are required to present all offers to principals as soon as
possible after they have been submitted. - ✔✔
✔✔Under state licensing law, fully executed purchase or listing agreements must be
delivered to all parties within ___ days of all signatures being obtained on the
document. - ✔✔5
✔✔All sales escrow accounts shall include the wording "_____________", in their title in
addition to the name of the broker as licensed by the commission to do business. -
✔✔Sales Escrow Account
✔✔What is it called, when a broker puts a deposit in his personal account? - ✔✔co-
mingling
✔✔What if a broker used a deposit to pay an electricity bill?
, What would this be called? - ✔✔Conversion
✔✔Brokers are not to commingle their own funds with deposits received from or on
behalf of principals to a transaction, except that the broker may deposit up to $____ of
his personal money in an escrow account to avoid bank charges. - ✔✔$2,500
✔✔It is the responsibility of licensed salespersons and associate brokers to deliver all
deposits to their sponsoring broker. When should they do this? - ✔✔Immediately upon
receipt
✔✔If you close your escrow account down. How long do you have to notify the
Commission? - ✔✔10 days AFTER closing.
✔✔Who holds the deposit? - ✔✔Typically, the broker
✔✔The Louisiana Real Estate Recovery Fund was established to compensate any
person who has suffered monetary damages as a result of a licensee's violation of the
license law as part of any transaction involving the sale or lease of real property. This
fund is maintained at a level or $________ with excess funds transferred each year to
the _____________ of the Commission. - ✔✔$400,000
Research and Education Fund
✔✔Persons who ARE NOT eligible for Recovery fund compensation include: - ✔✔-The
spouse of the judgement debtor or personal rep of each spouse.
-A licensed broker or salesperson who acted as a principal or an agent in the
transaction which is the subject of the claim.
✔✔Persons who are eligible under the license law to place a claim with the commission
may recover from the fund an amount equal to the unsatisfied portion of the claimant's
judgment or $_____ whichever is less, and only to the extent and the amount reflected
in the judgment s being actual damages. - ✔✔$20,000
✔✔The $20,000 limit applies to claims including one transaction, while a $______ limit
applies if two or more transactions are included. The limit is the total that the
commission will pay out for a licensee. The number of claimants in each transaction
does not affect the payment limits from the recovery fund. - ✔✔$50.000
✔✔If the Commission pays any amount from the fund to settle a claim on behalf of a
licensee, the broker's or salesperson's license is? - ✔✔Automatically revoked.
✔✔The License Law mandates that all active licensees must carry what? - ✔✔errors
and omissions insurance
