Section 20 - Duties and Powers of the Louisiana Real Estate Commission Exam Questions Answered
Correctly Graded A+
To compensate victims who've been awarded a judgment against a licensee - Answers The Louisiana
Real Estate Recovery Fund exists for one purpose. What purpose is that?
The LREC charges fees to licensees at initial licensure and during license renewal & Excess funds from
the Louisiana Real Estate Recovery Fund may be transferred to the education fund on December 31 of
each year. - Answers Which two of these are used to maintain the Louisiana Real Estate Research and
Education Fund financially?
- Brokers submit 1% of their commission earnings annually.
- The LREC charges fees to licensees at initial licensure and during license renewal.
- The LREC charges fees to continuing education providers.
- Interest income from brokers' interest-bearing accounts goes to the fund.
- Excess funds from the Louisiana Real Estate Recovery Fund may be transferred to the education fund
on December 31 of each year.
Transferred to the education fund - Answers If the Louisiana Real Estate Recovery Fund has excess funds
on December 31 of each year, where do the excess funds go?
Developing, sponsoring, conducting, and bolstering real estate-related research projects - Answers
Which of the following is an allowed expenditure from the Louisiana Real Estate Research and Education
Fund?
- Developing, sponsoring, conducting, and bolstering real estate-related research projects
- Paying the initial or renewal license fees for state employees who are also licensed
- Paying the retainer for an attorney who will focus on state real estate cases
- Providing scholarships for students majoring in real estate
The Louisiana Real Estate Commission - Answers Lisa's real estate license has been suspended. Which
entity had the power to do this?
Three more years until his six-year term is up - Answers Jace is in his third year of serving as a member
of the Louisiana Real Estate Commission. How much longer is he allowed to fulfill this role?
Examining and issuing subpoenas for commission-required records. - Answers Which of the following is
a power of the Louisiana Real Estate Commission?
- Assigning a licensee to a specific broker affiliate for mentoring.
Correctly Graded A+
To compensate victims who've been awarded a judgment against a licensee - Answers The Louisiana
Real Estate Recovery Fund exists for one purpose. What purpose is that?
The LREC charges fees to licensees at initial licensure and during license renewal & Excess funds from
the Louisiana Real Estate Recovery Fund may be transferred to the education fund on December 31 of
each year. - Answers Which two of these are used to maintain the Louisiana Real Estate Research and
Education Fund financially?
- Brokers submit 1% of their commission earnings annually.
- The LREC charges fees to licensees at initial licensure and during license renewal.
- The LREC charges fees to continuing education providers.
- Interest income from brokers' interest-bearing accounts goes to the fund.
- Excess funds from the Louisiana Real Estate Recovery Fund may be transferred to the education fund
on December 31 of each year.
Transferred to the education fund - Answers If the Louisiana Real Estate Recovery Fund has excess funds
on December 31 of each year, where do the excess funds go?
Developing, sponsoring, conducting, and bolstering real estate-related research projects - Answers
Which of the following is an allowed expenditure from the Louisiana Real Estate Research and Education
Fund?
- Developing, sponsoring, conducting, and bolstering real estate-related research projects
- Paying the initial or renewal license fees for state employees who are also licensed
- Paying the retainer for an attorney who will focus on state real estate cases
- Providing scholarships for students majoring in real estate
The Louisiana Real Estate Commission - Answers Lisa's real estate license has been suspended. Which
entity had the power to do this?
Three more years until his six-year term is up - Answers Jace is in his third year of serving as a member
of the Louisiana Real Estate Commission. How much longer is he allowed to fulfill this role?
Examining and issuing subpoenas for commission-required records. - Answers Which of the following is
a power of the Louisiana Real Estate Commission?
- Assigning a licensee to a specific broker affiliate for mentoring.
