Louisiana Real Estate - State Portion License Exam

Louisiana Real Estate - State Portion License Exam / Test Review Questions & Certified Solutions / 100% Correct/ Already Graded A+.Stretch your brain before your first study session Learn Study with Learn Reciprocity Choose matching term 1 What is right of the commission to allow licensees in other states to receive a license in on state if that state allows our licensees the same privilege?2Members of The LA Real Estate Commission must be 3A Lease is what type of contract?4What two Meridians are in Louisiana Don't know? 1 / 3

Terms in this set (190) Primary Purpose of Louisiana License Law is to Protect the public The LA Real Estate Commission consists of 1 1 (eleven) members To confirm commission appointments, the Governor must submit names to The Senate Real Estate Commission members serve

• (six) year terms

Members of The LA Real Estate Commission must be Qualified electors of the State of LA Citizens of the State of LA In business as a Broker for at least 5 years How many members of the commission constitute a Quorum?

• (five)

How many times is the commission REQUIRED to meet?Quarterly How many Commissiion meetings per month?

• (two)

Application by _ members is required for additional meetings

• (three)

How much are Commission members paid for attending commission meetings?$50 plus actual expenses Where is the commission located?Baton Rouge 2 / 3

The Commission has the power and authority to-- Regulate the issuance of licenses, registrations and certificates Promulgate the rules and bylaws for the enforcement of the license law Appoint an executive director Etc.What is right of the commission to allow licensees in other states to receive a license in on state if that state allows our licensees the same privilege?Reciprocity What is a requirement for out of state broker cooperation?One copy of the cooperating agreement must be filed with the commission How long must brokers keep real estate transactions records?

• (five) years

When can the Commission inspect a Broker's records?Between 9AM and 4PM, Saturdays, Sundays, and legal holidays excluded.The commission may, on its own motion investigate licensee or personas acting in such capacity True The Commission shall upon verified complaint in writing investigate licensees.True

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