Louisiana Real Estate Salesperson Exam — All Questions
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Which body administers the real estate license law in Louisiana?
- a.The Louisiana Department of Revenue
- b.The Louisiana Association of Realtors
- c.The Louisiana Real Estate Commission✓
- d.The Louisiana Public Service Commission
The Louisiana Real Estate Commission (LREC) administers and enforces the Louisiana Real Estate License Law found in Title 37 of the Louisiana Revised Statutes. It licenses salespersons and brokers, approves education, and imposes discipline.
In Louisiana, a licensed real estate salesperson must:
- a.Be sponsored by and work under a licensed Louisiana broker✓
- b.Operate independently once licensed
- c.Hold a separate notary commission
- d.Register directly with each parish clerk
A Louisiana salesperson must be sponsored by and licensed under a Louisiana broker. The sponsoring broker is responsible for the salesperson's activity and for the handling of client funds; a salesperson cannot practice independently.
Louisiana is notable among states for requiring which of the following of its active real estate licensees?
- a.Membership in the National Association of Realtors
- b.Errors and omissions (E&O) insurance coverage as a condition of active licensure✓
- c.A four-year college degree
- d.A separate appraisal license
Louisiana requires all active real estate licensees to carry errors and omissions (E&O) insurance. The Louisiana Real Estate Commission makes a group policy available, but licensees may obtain equivalent coverage independently; active licensure is contingent on maintaining this coverage.