full year starting on the date applicant passed test.d. Five

Bob Brooks School (Combined Sections) Flashcards Broker Mary Jones deposits $500.00 of a client's deposit money into her personal account and the balance into her

trust account. This is:a. Comminglingb. Co-depositingc.

Reciprocityd. Escheat

• Commingling

Licenses are issued for:a. Two full yearsb. One yearc. One

full year starting on the date applicant passed test.d. Five years.

• One year

A broker is responsible for violations of the License Law by

his/her agents:a. At all timesb. Only if they work in the main

office with him/her.c. If he/she was aware of their actions.d.If he/she was unaware of their actions.

• If he/she was aware of their actions.

Before the Commission may suspend or revoke a

license:a. The licensee must be given a hearing by the

Commission.b. The Attorney General must make a ruling.c.He/she must be allowed to finish all pending business.d.He/she must be given a jury trial.

• The licensee must be given a hearing by the

Commission.A broker is responsible for violations of the License Law by

his/her agents:a. At all times.b. Only if they work in the

main office.c. If the broker was aware of their actions.d. If the broker was unaware of their actions.

• If the broker was aware of their actions.

No individual real estate salesperson's license shall be

issued to any person who has not attained the age of:a.

15b. 18c. 21d. 25

• 18

After a Real Estate License has been sent to the

Commission for transfer, the licensee MAY:a. Continue

selling for former broker for 30 more days.b. Immediately begin selling for new sponsoring broker.c. Wait 30 days then begin selling again.d. Wait for the new license to be issued under the new sponsoring broker.

• Wait for the new license to be issued under the new

sponsoring broker.A written and signed document authorizing a broker to sell

the real estate described in such document is a:a.

Licenseb. Franchise Agreementc. Listing Agreementd.Purchase Agreement

• Listing Agreement

Which of the following may NOT sell real estate without a license?a. Receiver in Bankruptcyb. Trusteec. Sheriffd.Unlicensed assistant to a licensed real estate agent.

• Unlicensed assistant to a licensed real estate agent.

Mixing personal funds with funds belonging to other

persons is:a. Legalb. Comminglingc. Assemblaged.

Steering

• Commingling

A "Code of Ethics" for licensees was written by the:a. Real

Estate Commissionb. National Association of Realtorsc.

United States Congressd. Louisiana Legislature

• National Association of Realtors

A property manager may do all of the following EXCEPT:a.

Collect rentb. Sell time shares.c. Manage real estated.Supervise maintenance

• Sell time shares.

All renewals MUST show proof of:a. 12 hours of continuing

education for the preceding year.b. 10 hours of continuing education for the preceding year.c. 6 hours of continuing education for the preceding year.d. 8 hours of continuing education for the preceding year.

• 12 hours of continuing education for the preceding year.

A licensee applying for a Louisiana non-resident license from a state that has reciprocity with Louisiana MUST provide the Louisiana Real Estate Commission proof that he/she has passed their home state's licensing exam within the last _____ years.a. 2b. 4c. 5d. 6

• 5

The professional competency of any applicant for a real

estate license shall be judged solely on the basis of:a. A

recommendation from the Governor.b. An oral exam administered by the Commission.c. A written exam administered by the local Board of Realtors.d. A written exam administered through the Real Estate Commission.

• A written exam administered through the Real Estate

Commission.

Escrow accounts shall be maintained until:a. The funds can

be moved to brokers personal account.b. The funds can be sent to the Real Estate Commission.c. The funds are properly disbursed according to law.d. The funds are shifted to broker's general operating fund.

• The funds are properly disbursed according to law.

Applicants have how long to find a sponsoring broker after passing the State exam?a. Must have broker before taking exam.b. Six monthsc. 90 daysd. 60 days

• 90 days

A licensee who has a written agreement to sell real estate

and act as an agent is known as the:a. Property Managerb.

Listing Agentc. Subagentd. None of the above.

• Listing Agent

The Commission MAY, upon its own motion:a. Fine

licensees for violations.b. Imprison licensees for up to one month for violations.c. Revoke a license without a hearing.d. Investigate licensees.

• Investigate licensees.

Each license, certificate or registration shall be issued for a period of ____ year(s).a. 3b. 1c. 5d. 10

• 1

Applicants for a salesperson license MUST:a. Have at least

two years of college credit.b. Have a high school diploma or equivalent.c. Have completed 120 hours of classroom instruction.d. Have lived in this state for at least six months.

• Have a high school diploma or equivalent.

A real estate broker who sponsors associate brokers or real estate salespersons.a. Client's Brokerb. Customer's Brokerc. Licenseed. Sponsoring Broker

• Sponsoring Broker

A principal refers to which of the following?a. Agent and Sellerb. Broker and Agentc. Buyer and Sellerd. Agent and

Buyer

• Buyer and Seller