Question 1

A property is sold under a deed restriction (CC&R) that states the property may not be used as a bakery. The property is later converted to a bakery. Under these conditions which of the following is true?

Accepted Answer

An adjoining property owner may enforce the restriction by a court injunction.

Question 2

A principal factor for which adjustments must be made in using the sales comparison approach is:

Accepted Answer

the date of sale.

Question 3

A four-bedroom house with one bathroom carries a market value of $120,000. The same house would likely be worth $125,000 if a bathroom could be easily added for a cost of $10,000. This is an example of:

Accepted Answer

incurable functional obsolescence.

Question 4

Regulation Z of the Truth in Lending Act requires that if any of the terms of a loan (trigger terms) are advertised, then the ad must include details of all of the terms. These required terms include:

Accepted Answer

the cash price, required down payment, payment amount(s), APR, total of all payments

Question 5

A seller of a property using a purchase money mortgage wants to make sure he gets the rest of his money if the buyers sell the property before completely paying off the contract.

Accepted Answer

Subject to the mortgage clause

Question 6

Salesperson A for broker B has listed a home. Salesperson C for broker D is trying to sell the home to his own buyer. Salesperson C is a designated agent. Salesperson C is primarily responsible to:

Accepted Answer

his own buyer.

Question 7

The "broker" has listed an owner’s home. This agreement will be terminated by all of the following EXCEPT:

Accepted Answer

Death of the listing salesperson
Feedback

Question 8

An agent is told by the seller that the taxes are $1500 per year. The agent is asked by the buyer how much the taxes are on the property. The agent should

Accepted Answer

verify the tax figure for accuracy.

Question 9

Any knowledge the agent has pertaining to coming changes in school district boundaries would:

Accepted Answer

be considered a material fact that must be disclosed.

Question 10

An option, prior to being exercised, is an example of:
Select one:

Accepted Answer

a unilateral contract.

Question 11

Answering an offer by changing some of the terms and offering the new terms back to the original offeror is called:

Accepted Answer

a counter offer.

Question 12

Recording a document in the public record legally makes everyone responsible to know what is in the public record and therefore the document is valid and enforceable against other parties

Accepted Answer

constructive notice.

Question 13

Refusing a tenant on the basis of their profession is

Accepted Answer

not a violation of Fair Housing

Question 14

The exemption regarding housing for older persons applies to:

Accepted Answer

housing occupied solely by those 62 or older.

Question 15

Sex was added as a protected class in Fair Housing by what law?

Accepted Answer

Housing and Community Development Act

Question 16

In a Fair Housing Complaint, which of the following must be proved to show an act was a violation?

Accepted Answer

Disparate Impact

Question 17

An equal housing opportunity logo or statement should appear

Accepted Answer

in all residential ads

Question 18

The Interstate Land Sales Full Disclosure Act regulates the sale of undeveloped land across state lines by which methods

Accepted Answer

by mail or telephone

Question 19

Upon death of your sponsoring broker, which of the following best describes your rights and responsibilities as a salesperson?

Accepted Answer

You are provided 180 days to close pending business, no new business may be started.

Question 20

When must a Dual Agency form be presented?

Accepted Answer

Before you act as a dual agent or before a brokerage agreement is entered into.

Question 21

Which of the following MUST be included on an internet advertisement, but not on a printed advertisement for residential real estate?

Accepted Answer

1. Name of the broker 
2. City and state where main office or branch office is located 
3. Regulatory jurisdiction where broker license is held including other states

Question 22

Providing the Residential Property Condition Disclosure Document

Accepted Answer

is not intended to be part of any contract between the buyer and the seller.

Question 23

If a contract is an earnest money contract:

Accepted Answer

Neither party can sue for specific performance or other damages.

Question 24

If either party dies or becomes incapacitated before acceptance, then an offer:

Accepted Answer

Is null.

Question 25

Acceptance of an irrevocable offer under Louisiana Civil Law is best defined as when:

Accepted Answer

When the offer is signed and received by the offeror.

Question 26

An offer that specifies no time for acceptance or if the offeror has not manifested an intent to give the offeree a delay, the offer may:

Accepted Answer

Be revoked before it is accepted.

Question 27

When land is expropriated by the state, the landowner may expect compensation as follows:

Accepted Answer

Just compensation as well as other expenses such as moving expenses etc.

Question 28

When the performance of the obligation of each party is correlative to the performance of the other this is called a (an):

Accepted Answer

Commutative contract.

Question 29

In dual agency in Louisiana, what must be disclosed

Accepted Answer

each client and licensee only know the information they were actually given.

Question 30

A licensee engaged in any real estate transaction shall be considered to be representing the person with whom he is working as a designated agent unless

Accepted Answer

A. There is a written agreement to the contrary
 B. The licensee is performing only ministerial acts  
 C. Both 1 and 2 are true

Question 31

Which of the following is not true about confidential information?

Accepted Answer

All information told to a licensee in confidence by a client is considered confidential and cannot be disclosed by the licensee

Question 32

Which of the following is NOT a leasehold estate?
 A. An estate for years  
 B. Periodic tenancy
 C. Tenancy in common
 D. Tenancy at will
 E. Tenancy at sufferance

Accepted Answer

A. An estate for years  
 B. Periodic tenancy
 C. Tenancy in common (correct answer)
 D. Tenancy at will
 E. Tenancy at sufferance

Question 33

All of the following would be public land use controls EXCEPT

Accepted Answer

A. subdivision regulations
 B. zoning
 C. environmental protection laws
 D. deed restrictions (correct answer)

Question 34

Which of the following values is the most likely to set the residential price for a sale?

Accepted Answer

Market Value

Question 35

A competitive market analysis most likely determines the:

Accepted Answer

probable price of the property

Question 36

A principal factor for which adjustments must be made in using the sales comparison approach is

Accepted Answer

the date of sale

Question 37

A partial release clause is generally found in a:

Accepted Answer

Blanket mortgage

Question 38

When acting as a dual agent, which of the following is easiest to do for both parties at the same time?

Accepted Answer

Accounting ( not really sure)

Question 39

You have entered into a lease that requires you to pay 20 percent of the owner’s expenses. Your lease would be an example of a:

Accepted Answer

Net lease.

Question 40

The giver of an option is called the:

Accepted Answer

optionor.

Question 41

Which of the following bests describes a counteroffer?

Accepted Answer

It terminates the previous offer by making a new one back to the other party.

Question 42

Sam is a licensed agent who represents the seller of a home. Brian is a licensed agent who represents a buyer who wishes to purchase Sam's listing. After tough negotiations, the property is placed under contract and the typical purchase agreement inspect

Accepted Answer

Since the purchase agreement likely included an inspection clause for the buyer, after receiving the home inspection report the buyer has the right to rescind the contract and recover their initial deposit making the purchase agreement void.

Question 43

What is the best explanation of when does an offer become a purchase agreement?

Accepted Answer

When a "ready, willing and able buyer" signs an offer to purchase that meets the terms of the listing contract.

Question 44

Recording a document in the public record legally makes everyone responsible to know what is in the public record and therefore the document is valid and enforceable against other parties. This concept is called:

Accepted Answer

constructive notice.

Question 45

Under financed transactions covered by RESPA, what is the settlement statement or form called which is distributed to the consumer?

Accepted Answer

The Closing Disclosure

Question 46

Familial status and handicap were added as protected classes in Fair Housing by:
Select one:

Accepted Answer

the Fair Housing Amendments Act.

Question 47

Sex was added as a protected class in Fair Housing by what law?

Accepted Answer

Housing and Community Development Act 1974

Question 48

In 1988 the Federal Fair Housing Act was amended to add which of the following protected classes?

Accepted Answer

Familial Status

Question 49

The Americans with Disabilities Act states that any employer with _____ or more employees must adopt non discriminatory employment procedures

Accepted Answer

15

Question 50

Commission member appointments are confirmed by the

Accepted Answer

State Senate

Question 51

The Louisiana Real Estate Commission is comprised of

Accepted Answer

11 members appointed by the Governor

Question 52

A licensee is found guilty at a Real Estate Commission hearing and has his license suspended. The licensee appeals the decision in court. Which of the following is true?

Accepted Answer

The licensee can list and sell during the appeal, but only if a stay of enforcement is granted.

Question 53

If a broker is involved in obtaining deposits in property management, the broker must

Accepted Answer

open an account titled "Security Deposit Trust Account".

Question 54

Which of the following MUST be included on an internet advertisement, but not on a printed advertisement for residential real estate?

Accepted Answer

The associate broker or salesperson's name and contact information.

Question 55

All brokers must have a Rental Trust Account

Upon opening an escrow account, an affidavit about the account must be sent to 
(true or false)

Accepted Answer

False

Question 56

The buyer in a contract is called the:

Accepted Answer

Vendee

Question 57

An undivided interest in real property is best defined when:

Accepted Answer

The property is owned by more than one person who share the same thing

Question 58

A Louisiana lease must be in writing to be valid:

Accepted Answer

At no time, since written leases are not required in Louisiana

Question 59

Consent of both parties to form a contract is established through:

Accepted Answer

Offer and acceptance

Question 60

John made an offer of $80,000 on a house and included a check for $5,000 in earnest money. The seller accepted the offer. The next day, John found a house he liked better and asked the seller to release him from the original contract. In this case the sel

Accepted Answer

John may do so but must forfeit the $5000 earnest money to the seller

Question 61

Deposits are not considered earnest money unless so stated in the contract. (true or false)

Accepted Answer

True

Question 62

If a licensee sells a property he/she owns without another licensee involved and writes the terms of the agreement accepted by the purchaser

Accepted Answer

You can not be a Dual Agent on your own property.

Question 63

The process of taking property while providing just compensation is called

Accepted Answer

Condemnation

Question 64

Which of the following concepts or requirements was NOT a result of the Comprehensive Environmental Response, Compensation, and  Liability Act (CERCLA) of 1980?

Accepted Answer

Innocent landowner immunity (answer)
the $9 billion Superfund
Strict liability
Joint and retroactive liability

Question	Answer
A property is sold under a deed restriction (CC&R) that states the property may not be used as a bakery. The property is later converted to a bakery. Under these conditions which of the following is true?	An adjoining property owner may enforce the restriction by a court injunction.
A principal factor for which adjustments must be made in using the sales comparison approach is:	the date of sale.
A four-bedroom house with one bathroom carries a market value of $120,000. The same house would likely be worth $125,000 if a bathroom could be easily added for a cost of $10,000. This is an example of:	incurable functional obsolescence.
Regulation Z of the Truth in Lending Act requires that if any of the terms of a loan (trigger terms) are advertised, then the ad must include details of all of the terms. These required terms include:	the cash price, required down payment, payment amount(s), APR, total of all payments
A seller of a property using a purchase money mortgage wants to make sure he gets the rest of his money if the buyers sell the property before completely paying off the contract.	Subject to the mortgage clause
Salesperson A for broker B has listed a home. Salesperson C for broker D is trying to sell the home to his own buyer. Salesperson C is a designated agent. Salesperson C is primarily responsible to:	his own buyer.
The "broker" has listed an owner’s home. This agreement will be terminated by all of the following EXCEPT:	Death of the listing salesperson Feedback
An agent is told by the seller that the taxes are $1500 per year. The agent is asked by the buyer how much the taxes are on the property. The agent should	verify the tax figure for accuracy.
Any knowledge the agent has pertaining to coming changes in school district boundaries would:	be considered a material fact that must be disclosed.
An option, prior to being exercised, is an example of: Select one:	a unilateral contract.
Answering an offer by changing some of the terms and offering the new terms back to the original offeror is called:	a counter offer.
Recording a document in the public record legally makes everyone responsible to know what is in the public record and therefore the document is valid and enforceable against other parties	constructive notice.
Refusing a tenant on the basis of their profession is	not a violation of Fair Housing
The exemption regarding housing for older persons applies to:	housing occupied solely by those 62 or older.
Sex was added as a protected class in Fair Housing by what law?	Housing and Community Development Act
In a Fair Housing Complaint, which of the following must be proved to show an act was a violation?	Disparate Impact
An equal housing opportunity logo or statement should appear	in all residential ads
The Interstate Land Sales Full Disclosure Act regulates the sale of undeveloped land across state lines by which methods	by mail or telephone
Upon death of your sponsoring broker, which of the following best describes your rights and responsibilities as a salesperson?	You are provided 180 days to close pending business, no new business may be started.
When must a Dual Agency form be presented?	Before you act as a dual agent or before a brokerage agreement is entered into.
Which of the following MUST be included on an internet advertisement, but not on a printed advertisement for residential real estate?	1. Name of the broker 2. City and state where main office or branch office is located 3. Regulatory jurisdiction where broker license is held including other states
Providing the Residential Property Condition Disclosure Document	is not intended to be part of any contract between the buyer and the seller.
If a contract is an earnest money contract:	Neither party can sue for specific performance or other damages.
If either party dies or becomes incapacitated before acceptance, then an offer:	Is null.
Acceptance of an irrevocable offer under Louisiana Civil Law is best defined as when:	When the offer is signed and received by the offeror.
An offer that specifies no time for acceptance or if the offeror has not manifested an intent to give the offeree a delay, the offer may:	Be revoked before it is accepted.
When land is expropriated by the state, the landowner may expect compensation as follows:	Just compensation as well as other expenses such as moving expenses etc.
When the performance of the obligation of each party is correlative to the performance of the other this is called a (an):	Commutative contract.
In dual agency in Louisiana, what must be disclosed	each client and licensee only know the information they were actually given.
A licensee engaged in any real estate transaction shall be considered to be representing the person with whom he is working as a designated agent unless	A. There is a written agreement to the contrary B. The licensee is performing only ministerial acts C. Both 1 and 2 are true
Which of the following is not true about confidential information?	All information told to a licensee in confidence by a client is considered confidential and cannot be disclosed by the licensee
Which of the following is NOT a leasehold estate? A. An estate for years B. Periodic tenancy C. Tenancy in common D. Tenancy at will E. Tenancy at sufferance	A. An estate for years B. Periodic tenancy C. Tenancy in common (correct answer) D. Tenancy at will E. Tenancy at sufferance
All of the following would be public land use controls EXCEPT	A. subdivision regulations B. zoning C. environmental protection laws D. deed restrictions (correct answer)
Which of the following values is the most likely to set the residential price for a sale?	Market Value
A competitive market analysis most likely determines the:	probable price of the property
A principal factor for which adjustments must be made in using the sales comparison approach is	the date of sale
A partial release clause is generally found in a:	Blanket mortgage
When acting as a dual agent, which of the following is easiest to do for both parties at the same time?	Accounting ( not really sure)
You have entered into a lease that requires you to pay 20 percent of the owner’s expenses. Your lease would be an example of a:	Net lease.
The giver of an option is called the:	optionor.
Which of the following bests describes a counteroffer?	It terminates the previous offer by making a new one back to the other party.
Sam is a licensed agent who represents the seller of a home. Brian is a licensed agent who represents a buyer who wishes to purchase Sam's listing. After tough negotiations, the property is placed under contract and the typical purchase agreement inspect	Since the purchase agreement likely included an inspection clause for the buyer, after receiving the home inspection report the buyer has the right to rescind the contract and recover their initial deposit making the purchase agreement void.
What is the best explanation of when does an offer become a purchase agreement?	When a "ready, willing and able buyer" signs an offer to purchase that meets the terms of the listing contract.
Recording a document in the public record legally makes everyone responsible to know what is in the public record and therefore the document is valid and enforceable against other parties. This concept is called:	constructive notice.
Under financed transactions covered by RESPA, what is the settlement statement or form called which is distributed to the consumer?	The Closing Disclosure
Familial status and handicap were added as protected classes in Fair Housing by: Select one:	the Fair Housing Amendments Act.
Sex was added as a protected class in Fair Housing by what law?	Housing and Community Development Act 1974
In 1988 the Federal Fair Housing Act was amended to add which of the following protected classes?	Familial Status
The Americans with Disabilities Act states that any employer with _____ or more employees must adopt non discriminatory employment procedures	15
Commission member appointments are confirmed by the	State Senate
The Louisiana Real Estate Commission is comprised of	11 members appointed by the Governor
A licensee is found guilty at a Real Estate Commission hearing and has his license suspended. The licensee appeals the decision in court. Which of the following is true?	The licensee can list and sell during the appeal, but only if a stay of enforcement is granted.
If a licensee wishes to advertise property in which they have an interest, which of the following is true concerning advertising the property?
If a broker is involved in obtaining deposits in property management, the broker must	open an account titled "Security Deposit Trust Account".
Which of the following MUST be included on an internet advertisement, but not on a printed advertisement for residential real estate?	The associate broker or salesperson's name and contact information.
All brokers must have a Rental Trust Account Upon opening an escrow account, an affidavit about the account must be sent to (true or false)	False
The buyer in a contract is called the:	Vendee
An undivided interest in real property is best defined when:	The property is owned by more than one person who share the same thing
A Louisiana lease must be in writing to be valid:	At no time, since written leases are not required in Louisiana
Consent of both parties to form a contract is established through:	Offer and acceptance
John made an offer of $80,000 on a house and included a check for $5,000 in earnest money. The seller accepted the offer. The next day, John found a house he liked better and asked the seller to release him from the original contract. In this case the sel	John may do so but must forfeit the $5000 earnest money to the seller
Deposits are not considered earnest money unless so stated in the contract. (true or false)	True
If a licensee sells a property he/she owns without another licensee involved and writes the terms of the agreement accepted by the purchaser	You can not be a Dual Agent on your own property.
The process of taking property while providing just compensation is called	Condemnation
Which of the following concepts or requirements was NOT a result of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) of 1980?	Innocent landowner immunity (answer) the $9 billion Superfund Strict liability Joint and retroactive liability
An appraiser uses the cost approach in appraising a home. The appraiser should NOT use which of the following types of information?	Depreciation on the Land (land does not depreciate)
You are appraising a property in which the sellers motivation is a significant factor. The motivation would be most important in utilizing which of the following?	Sales Comparison Approach
In comparing a ARM and a GPM	They both have lower payments in the early years, but the GPM has a negative amortization
The Real Estate Settlements and Procedures Act (RESPA) applies to	All first lien residential mortgages for the purchase of one to four-family homes or condominiums for investment of occupancy
An agent lists a property for sale under an Exclusive Right to Sell listing. The agent finds a buyer who makes an offer that is accepted by the seller. The agent gets the commission	If his client then decides not to sell
Agent Sam has a purchase agreement to buy a house from Mr. Smith for $100,000. Agent Sam and Mr. Smith agree to new terms including a price of $102,000, and sign a new agreement to replace the old one. then Agent sam sells th right to buy the house for $1	Novation and Assignment
You have a listing on a piece of property and you get a ready, willing and able purchaser to agree to a contract with the seller. Before the act of sale, the buyer and seller mutually agree to rescind the contract. under these conditions, which of the fol	The Broker will return the deposit to the buyer, unless the termination agreement says otherwise.
A buyer and a seller enter into a binding agreement to sell a house. the sellers then refuse to sell the house to the buyer because they decide they want to continue living there. Which of the following principles of law will be used to sue the seller?	Specific Performance
A quitclaim deed provides which of the following warranties	None of the above is the answer. It has the least amount of protection
When new land is acquired as water recedes it is called	Reliciton
generally when a notary places their seal on a signature, this is intended to prove	acknowledgment
All of th following describe violations of antitrust Laws EXCEPT	A Broker refuses to cooperate with a flat-fee Broker
which of the following scenarios would not be considered discriminatory under the federal fair housing law?	A man owns and lives in his four-unit apartment building, and he refuses to rent to families with children.
Brokers get together and divide their market areas by region. This is	A violation under the Antitrust Laws
The transfer fee for switching license status to inactive is	$45
Which of the following would NOT be required on an internet advertisement?	Month and Year the advertisement was Printed
If a licensee wishes to advertise property in which they have an interest, which of the following is true concerning advertising the property?	Although no disclosure needs to be on the yard sign, it is still necessary for the agent to disclose if they are a principle in the transaction.
A real estate broker advertising or marketing on a site on the internet must include which of the following on each page of the site on which the advertising appears?	1. The Brokers name or trade name as registered with the Commission 2. the city and state in which the brokers main office or branch office is located 3. The regulatory jurisdictions in with the Broker holds a real estate brokerage license. Answer is
If a real estate licensee advertises his own property for sale	He must always have "agent/owner" or licensed agent in the Ad
A salesperson advertising or marketing on a site on the Internet must include the following data on each page of the site on which the licensee's advertisement or information appears.	The salesperson's name, city and state of the broker's office, sponsoring broker's name and license jurisdiction.
Where must the required advertising disclosures be included on an email message	On the first OR last page
Which if the following statements is (are) true about rejected offers	All offers that are rejected must be signed as rejected by the owner at some point.
Lack of legal capacity makes the contract in Louisiana	Relatively null or voidable
A lawsuit based on lesion beyond moiety must be filed within	One year
Which of the following statements are true about deposits and Ernest money?	Deposits are not considered earnest money unless so state in the contract
After how many days notice if a buyer defaults in payments may a Bond for Deed be canceled?	45 days
An offer with a termination date for the offer in Louisiana is said to be	Irrevocable
An offer that specifies a time for acceptance is	Irrevocable during that time
A charge on one property for the benefit of another is	Predial Servitude (Louisiana) Easement Apportunant (National)
When one party is obligated for the benefit of the other, but recieves no return advantage.	Gratuitous Contract
Subdivision regulation (private deed restrictions) may be modified by those affected within what time period	After 10 years of both (a) owners representing 2/3 of the land and 2/3 of the owners of the land agree
Buying subject to a mortgage	Keeps the seller personally liable for the loan although the lien remains with the property after sale
A contract to sell real property that requires the purchase price to be paid in installments and title is to be delivered to the buyer only after a stipulated sum has been paid or the terms met is an	Bond for Deed
Bill Jones is a partner in a partnership in commendam. This means	the partnership is limited
If a licensee sells property he/she owns w/o another licensee involved and writes the terms of the agreement accepted by the purchaser	It is not a Dual agent
Which of the following is an economic characteristic of land? A. Indestructibility B. Situs C. Non-homogeneity D. Immobility	A. Indestructibility B. Situs Correct!! C. Non-homogeneity D. Immobility
You and your spouse own your house in a form of ownership in which neither of you can sell the house individually. Your form of ownership is most likely:	A. In severalty B. Tenancy by entirety Correct!! C. Tenancy in common D. Joint tenancy
A seller of a property using a purchase money mortgage wants to make sure he gets the rest of his money if the buyers sell the property before completely paying off the contract.	Due on sale clause
A. unknown undisclosed defects. B. known undisclosed defects. C. all unknown defects. D. All of the above. Correct!! who is responsible	The seller
Are property disclosure forms always required?	Are required in some states. Correct!!
You list your property for sale with a broker. The listing contract stipulates that the seller will receive $110,000 “net,” with all proceeds over $110,000 being the broker’s commission. This type of listing is:	A net listing. Correct!!!!
The act of sale and the documents produced at the act of sale are based on	Purchase Agreement Correct!!
An offer and acceptance must have:	A "meeting of the minds."
If the signature on a deed is acknowledged:	It is legal evidence that the signature is voluntary and genuine
When new land is acquired as water recedes it is called:	reliction
The sudden removal of land of one owner and depositing on the land of another when a stream changes channel.	Avulsion
An accountant had withdrawn escrow money to pay operational expenses	The payment of operational expenses from the escrow fund it is illegal and is considered conversion
Intentional acts of discrimination are called	disparate treatment
Does not require evidence of discriminatory intent and usually involves policies that cause disproportionate harm to members of a protected class,	Disparate Impact
An agent puts an ad in the newspaper for a studio apartment in the city. Which of the following ad statements does not violate the Fair Housing Act?	A. Cozy for one or two. Correct!! B. Good start for married couple. C. No children allowed. D. Great for a single.
Pre-paid taxes are a credit to who	Credit to seller
To be a member of the Real Estate Commission you have to be a broker for? do you have to be a legal resident and qualified elector in Louisiana and how many transactions do you have to have?	A resident of the state of Louisiana and a licensed real estate broker for at least 5 years. No minimum of transactions in experience required.
The Commission is required by law to meet	Quarterly
Licensees must renew their license by and shall expire on	December 31 if not renewed by January 1 shall be considered expired
The LREC never handles disputes regarding	Employment disputes, and disputes pertaining to financial obligaitons
Brokers who accept any deposit on behalf of a client in connection with the sale of real estate shall open and maintain a	Sales Escrow Account in a financial institution in the State of Louisiana
If the Broker is involved in property management or accepting rent payments on behalf of clients he/she shall open another account titled	Rental Trust Account
If the Broker is involved in obtaining deposits in Property management, the broker should open an account titled	Security Deposit trust Account
Do Branch offices have to open Branch Office Account	No. They may open an additional accounts but are not required.
When must a Dual Agency form be presented?	Before you act as a dual agent or before a brokerage agreement is entered into.
According to the Louisiana license law, Listings must be	In Writing
A licensee distributing a mold informational pamphlet:	Is not required to provide any further explanation or information regarding mold.
Which of the following information must appear on every page of an email advertisement: Select one:A. broker's name B. broker's address C. broker's phone number D. None of the above	A. broker's name B. broker's address C. broker's phone number D. None of the above Correct!
The revocation or suspension of a sponsoring Broker's license shall automatically .... no charge if transferred within	Suspend every licensee under the broker but there will be no charge for transfer to a new sponsoring broker if done within 60 days
Disbursement of funds upon a reasonable interpretation of the contract that authorized as long as disbursement is not made until 10 days after the broker has notified all parties and licensees in writing.	Is a legitimate reason for a broker to remove a deposit from her escrow account
A broker can keep more than $2500 of his personal or company funds in an escrow account:	Only in a rental trust account to pay current financial obligations of a client. Correct!
When the performance of the obligation of each party is correlative to the performance of the other this is called a (an):	Commutative contract. Correct!
This keeps the seller personally liable for the loan, although the lien remains with the property after sale.	Buying subject to a mortgage
An offer that specifies a time for acceptance is	Irrevocable during that time.
In Louisiana, the closest term to consideration is:	Cause
A Louisiana term for the "limited partnership" as known in Common Law	Partnership in Commendam
If another agent is representing a buyer and is showing your listing and you tell him that your seller is eager and may accept a lower price if they make an offer right away, this is	Is not Ok .....It is considered "undisclosed dual agency"
Which of the following is true about dual agency?	A licensee may disclose financial qualification of the buyer or tenant to the seller or landlord

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