LOUISIANA REAL ESTATE ANSWERS AND
QUESTIONS SET A+
✔✔
✔✔To assure good title, you would use: - ✔✔Sale with Warranty
✔✔An agents license expired five years ago. To re-activate his license he must: -
✔✔He cannot, he must re-apply
✔✔If a broker dies, who can ssume his role: - ✔✔Any licensee within his company for
180 days.
✔✔What can the Research and Recovery Fund be used for
1
2
3 - ✔✔Chairs at institutions of higher learning
Research projects
Fund educational seminars
✔✔An obligation requires: - ✔✔Legal cause
✔✔A deposit is given with a signed contract for the purchase of a house but it is not
specified as "earnest money". If the buyer changes his mind, he: - ✔✔can NOT have his
money back and the seller can demand for specific performance.
✔✔Payments for claims based upon judgment against any one licensed real estate
broker or salesperson should not exceed: $____________ - ✔✔$50,000
✔✔A licensee that has been on inactive status for 1-3 years must complete how many
hours of continuing education in order to activate his license? - ✔✔20 Hours
✔✔A relationship agreement in which a real estate broker or licensee represents a
client by the clients consent is a: - ✔✔Agency Agreement
, ✔✔The latest day to renew your license before losing it for good is? - ✔✔March 31st
✔✔A person who is not being represented by a licensee but for whom the licensee is
performing ministerial acts is a: - ✔✔Customer
✔✔A licensee may remain on inactive status for how long? - ✔✔Indefinitely
✔✔Course work for relicensing may not receive full credit if it was taken how many
years ago? - ✔✔5 years ago
✔✔If there is a dispute between activity regarding payment of commission, it may NOT
be handled by____________ - ✔✔The Real Estate Commission
✔✔Real estate commissions may be paid to who? - ✔✔a broker only
✔✔The rules and regulations are established by? - ✔✔The Commission
✔✔Minimum amount of funds that must be maintained in the recovery fund: -
✔✔$400,000
✔✔The length of time to redeem property that has been sold for taxes is: - ✔✔3-5 Years
✔✔Unharvested crops which belong to someone other than the owner of the land are: -
✔✔movables by anticipation
✔✔What method of land description would most likely be used for a piece of rural
agriculture land? - ✔✔Government Survey
✔✔What type of easements are telephone, power, and gas lines? - ✔✔easements in
gross.
✔✔ A salesperson must disclose what information when listing as advertisment in a
newspaper? - ✔✔Licensed Agent
✔✔A fee can be paid for referral of a customer only to to a: - ✔✔Licensed Real Estate
Agent
✔✔How much can the commission pay out of the recovery fund to one person for a
judgement? - ✔✔$20,000
✔✔If a broker's license is suspended, all salespersons licenses are sent back to the
commission within: - ✔✔72 Hours
QUESTIONS SET A+
✔✔
✔✔To assure good title, you would use: - ✔✔Sale with Warranty
✔✔An agents license expired five years ago. To re-activate his license he must: -
✔✔He cannot, he must re-apply
✔✔If a broker dies, who can ssume his role: - ✔✔Any licensee within his company for
180 days.
✔✔What can the Research and Recovery Fund be used for
1
2
3 - ✔✔Chairs at institutions of higher learning
Research projects
Fund educational seminars
✔✔An obligation requires: - ✔✔Legal cause
✔✔A deposit is given with a signed contract for the purchase of a house but it is not
specified as "earnest money". If the buyer changes his mind, he: - ✔✔can NOT have his
money back and the seller can demand for specific performance.
✔✔Payments for claims based upon judgment against any one licensed real estate
broker or salesperson should not exceed: $____________ - ✔✔$50,000
✔✔A licensee that has been on inactive status for 1-3 years must complete how many
hours of continuing education in order to activate his license? - ✔✔20 Hours
✔✔A relationship agreement in which a real estate broker or licensee represents a
client by the clients consent is a: - ✔✔Agency Agreement
, ✔✔The latest day to renew your license before losing it for good is? - ✔✔March 31st
✔✔A person who is not being represented by a licensee but for whom the licensee is
performing ministerial acts is a: - ✔✔Customer
✔✔A licensee may remain on inactive status for how long? - ✔✔Indefinitely
✔✔Course work for relicensing may not receive full credit if it was taken how many
years ago? - ✔✔5 years ago
✔✔If there is a dispute between activity regarding payment of commission, it may NOT
be handled by____________ - ✔✔The Real Estate Commission
✔✔Real estate commissions may be paid to who? - ✔✔a broker only
✔✔The rules and regulations are established by? - ✔✔The Commission
✔✔Minimum amount of funds that must be maintained in the recovery fund: -
✔✔$400,000
✔✔The length of time to redeem property that has been sold for taxes is: - ✔✔3-5 Years
✔✔Unharvested crops which belong to someone other than the owner of the land are: -
✔✔movables by anticipation
✔✔What method of land description would most likely be used for a piece of rural
agriculture land? - ✔✔Government Survey
✔✔What type of easements are telephone, power, and gas lines? - ✔✔easements in
gross.
✔✔ A salesperson must disclose what information when listing as advertisment in a
newspaper? - ✔✔Licensed Agent
✔✔A fee can be paid for referral of a customer only to to a: - ✔✔Licensed Real Estate
Agent
✔✔How much can the commission pay out of the recovery fund to one person for a
judgement? - ✔✔$20,000
✔✔If a broker's license is suspended, all salespersons licenses are sent back to the
commission within: - ✔✔72 Hours
