Louisiana Real Estate Course Unit 7
1. Broker Gary is representing a buyer client who No, a broker cannot sell his or her
is looking for a house. Gary is in the process of own property to a buyer he or she
selling his own property and the buyer likes it represents.
and makes an offer. Can Gary sell his house to
the client?
2. Is dual agency legal in Louisiana? Yes, dual agency is legal provided
the licensee has the written acknowl-
edgement of all the parties involved.
3. Broker Anna is confident that a desirable prop- It is a violation of license law to make
erty will increase in value and tells her client false guarantees and Anna is in viola-
that he will make a big profit when he decides tion of license law.
to resell the property. Which is TRUE?
4. Who is a salesperson allowed to represent? Only the broker or real estate agency
listed on his or her license
5. Suspension of a licensee's real estate license is temporary.
6. Frances Paulson quietly rewards a client, Max- given an illegal rebate.
ine Brule, for her business by rebating part of
Paulson's commission to Brule after closing. In
doing so, Paulson has
7. Which of the following is NOT a requirement for The brokerage firm's tax ID must be
advertising? included in all advertising.
8. Broker Ellen's clients have been extremely help- No, Ellen may not provide gifts that
ful during the transaction and also provided are tied to her commission.
Ellen with several good referrals. Ellen wants to
thank the clients and tells them she will give
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, Louisiana Real Estate Course Unit 7
them $300 from her commission fee after the
closing. Can Ellen do this?
9. When a licensee has an exclusive listing with a must negotiate with the listing agent
property seller, other licensees acting as buy- only.
ers' agents
10. A license will be automatically revoked if the is convicted of a felony.
licensee
11. It is a violation to be both listing agent and the agent informs the public of this
owner of the property listed unless prior to signing a purchase agree-
ment.
12. If the LREC revokes a licensee's real estate li- the licensee must cease practicing
cense conditionally, it means that until he provides the Commission with
required documentation before a fi-
nal decision.
13. When does commingling occur? When a broker mixes money belong-
ing to others with his or her own busi-
ness or private funds
14. Dual agency is legal in Louisiana as long as it is disclosed in writing to all parties.
15. Bill, an associate broker, is managing a branch Mary has committed the violation of
office without any supervision from his spon- allowing a sponsored licensee to op-
soring broker, Mary. What is the violation of erate as an individual broker.
license law, if any?
16. What will happen to a licensee who's actions Because license law 1455 (A)(1) states
violate the license law in general, but there is that any act of violation is punishable
no specific license law covering the licensee's even if it is not specified in the law, the
actions? licensee will be punished.
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1. Broker Gary is representing a buyer client who No, a broker cannot sell his or her
is looking for a house. Gary is in the process of own property to a buyer he or she
selling his own property and the buyer likes it represents.
and makes an offer. Can Gary sell his house to
the client?
2. Is dual agency legal in Louisiana? Yes, dual agency is legal provided
the licensee has the written acknowl-
edgement of all the parties involved.
3. Broker Anna is confident that a desirable prop- It is a violation of license law to make
erty will increase in value and tells her client false guarantees and Anna is in viola-
that he will make a big profit when he decides tion of license law.
to resell the property. Which is TRUE?
4. Who is a salesperson allowed to represent? Only the broker or real estate agency
listed on his or her license
5. Suspension of a licensee's real estate license is temporary.
6. Frances Paulson quietly rewards a client, Max- given an illegal rebate.
ine Brule, for her business by rebating part of
Paulson's commission to Brule after closing. In
doing so, Paulson has
7. Which of the following is NOT a requirement for The brokerage firm's tax ID must be
advertising? included in all advertising.
8. Broker Ellen's clients have been extremely help- No, Ellen may not provide gifts that
ful during the transaction and also provided are tied to her commission.
Ellen with several good referrals. Ellen wants to
thank the clients and tells them she will give
1/8
, Louisiana Real Estate Course Unit 7
them $300 from her commission fee after the
closing. Can Ellen do this?
9. When a licensee has an exclusive listing with a must negotiate with the listing agent
property seller, other licensees acting as buy- only.
ers' agents
10. A license will be automatically revoked if the is convicted of a felony.
licensee
11. It is a violation to be both listing agent and the agent informs the public of this
owner of the property listed unless prior to signing a purchase agree-
ment.
12. If the LREC revokes a licensee's real estate li- the licensee must cease practicing
cense conditionally, it means that until he provides the Commission with
required documentation before a fi-
nal decision.
13. When does commingling occur? When a broker mixes money belong-
ing to others with his or her own busi-
ness or private funds
14. Dual agency is legal in Louisiana as long as it is disclosed in writing to all parties.
15. Bill, an associate broker, is managing a branch Mary has committed the violation of
office without any supervision from his spon- allowing a sponsored licensee to op-
soring broker, Mary. What is the violation of erate as an individual broker.
license law, if any?
16. What will happen to a licensee who's actions Because license law 1455 (A)(1) states
violate the license law in general, but there is that any act of violation is punishable
no specific license law covering the licensee's even if it is not specified in the law, the
actions? licensee will be punished.
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