All Flashcards
Which of the following is true?
Select one:
A.
The Real Estate Commission can fine up to $2000
B.
The Court can fine up to $2000
C.
The Real Estate Commission can imprison up to 2 yrs.
D.
All of the above
The Court can fine up to $2000
The right of the Commission to allow licensees in other states to receive a license in our state if that state allows our licensees the same privilege is known as
Reciprocity
Which of the following is true?
A.
The Commission may, on its own motion, investigate licensees or persons acting in such capacity
B.
The Commission shall, upon verified complaint in writing, investigate licensees
C.
The Commission may subpoena a broker’s records
D.
All of the above
All of the above
Which of the following requires a licensee to report this legal action within 10 days?
Select one:
A.
The institution of criminal prosecution involving a Crime of Moral Turpitude.
B.
The institution of a civil trial the subject matter of which is real estate
C.
Any final conviction for a felony.
D.
All of the above
Any final conviction for a felony
The Commission has the power and authority to
Select one:
A.
Regulate the issuance of licenses, registrations and certificates
B.
Promulgate rules and bylaws for the enforcement of the license law
C.
Appoint an executive director
D.
All of the above
All of the above
Before a hearing, the Commission must notify the licensee at least __ days in advance
20 days
A licensee indicted for violating the Fair Housing Act
Select one:
A.
Will automatically have his/her license revoked
B.
Will automatically undergo investigation
C.
Will not be given a hearing
D.
None of the above
Will Automatically undergo investigation
____ members constitute a quorum for Commission business.
6
An appeal of a Court’s decision to a higher court requires
The licensee put up a suspensive appeal bond
The Commission is limited to no more than how many meetings per month?
2
Members of the La. Real Estate Commission must be
Select one:
A.
Qualified electors of the State of La.
B.
Citizens of the State of La.
C.
In business as a Broker for at least 5 years
D.
All of the above
All of the above
A licensee may have his/her license suspended or revoked for which of the following
Select one:
A.
Accepting giving or charging disclosed commissions
B.
Guaranteeing future profits from the resale of property
C.
Encouraging people not to break contracts
D.
All of the following
Guaranteeing future profits from the resale of property
Brokers must keep real estate transaction records for
5 Years
Application by __ members is required to call additional meetings?
3
The La. Real Estate Commission consists of ____ members.
11
The Commission is required to meet
Quarterly
Which of the following is true?
Select one:
A.
The Commission may subpoena unlicensed people.
B.
A licensee’s license is automatically revoked if money is paid out of the recovery fund because the licensee stole the money
C.
A licensee found guilty at a hearing shall have his/her license suspended or revoked.
D.
All of the above are true
All of the above
The primary purpose of the license law is to
Protect the Public
The commission is located in
Baton Rouge
A hearing is held and Broker A has his license revoked. Broker A appeals his revocation in court. During the trial Broker A Lists a property for sale. Which of the following is true?
Select one:
A.
A may list, but not sell, property during the appeal.
B.
A may sell, but not list, property during the appeal
C.
This is legal if the court gives a stay of enforcement to the agent
D.
This is illegal
This is legal if the court gives a stay of enforcement to the agent
Which of the following is true about out of state broker cooperation?
Select one:
A.
La. Brokers are not allowed to cooperate with out of State Brokers for the sale of La. Properties
B.
The out of state broker must agree to take full responsibility for all actions of the La. Broker
C.
1 copy of the cooperating agreement must be filed with the Commission
D.
All of the above are true
1 copy of the cooperating agreement must be filed with the Commission
The Commission may inspect a Broker’s records
between 9AM-4PM, Saturdays, Sundays, and legal holidays excluded
Real Estate Commission members serve ____ year terms.
6
To confirm commission appointments, the Governor must submit names to the
Senate
