Louisiana License Law - Test 1 Flashcards

Louisiana License Law - Test 1 Flashcards A broker who is the sponsoring broker for a partnership or

corporation is call a(an):

Qualifying Broker A person procuring prospects for the sale of real estate for

a fee:

Must be licensed A person who engages the services of a broker and whose interests are protected by the loyalties imposed by the

relationship is a(an):

Client The primary purpose of the LA Real Estate Commission is

to:

Protect the Public A licensee holding a brokers license but who is sponsored

by another broker is a(an):

Associate Broker The written agreement signed by all the owners of real estate authorizing a broker to offer or advertise real estate

for sale is called:

Listing Agreement An agent who is employed by and represents only the

purchaser in a transaction is:

Buyer's Agent

Mixing client funds with company funds would be: Commingling

Enforcing laws concerning real estate and licenses is the

job of:

Louisiana Real Estate Commission A licensee who has a written agreement to sell real estate

and act as an agent is known as the:

Listing Agent

May sponsor only licensed agents:A sponsoring broker

Real Estate Commissioners in Louisiana are: Appointed by the Governor

A "Code of Ethics" for licensees was written by: The National Association of Realtors A person acting under the provisions of the license law in a

real estate transaction is a(an):

Agent Enacting real estate laws in Louisiana is the job of the:Louisiana State Legislature