Agency
A Louisiana real estate broker's duty of 'accounting' to clients means:
AFiling the client's tax returns
BKeeping accurate records of all money and property received on behalf of clients and providing timely reports✓ Correct
CAccounting for all hours spent working for the client
DPreparing financial statements for the client's property
Explanation
The fiduciary duty of accounting requires a broker to maintain accurate records of all client funds received (earnest money, security deposits), to not commingle, and to provide timely accounting reports to clients.
Related Louisiana Agency Questions
- In Louisiana, which of the following is an example of a licensee violating the duty of confidentiality?
- In Louisiana, a real estate broker may act as a 'principal' in a transaction when they are:
- Which of the following best describes 'apparent authority' in a Louisiana agency context?
- A listing broker has a fiduciary duty to the seller that includes:
- In Louisiana, a designated agency arrangement means:
- In Louisiana, a broker can represent a buyer as a client in a transaction where their own listing is for sale. This is called:
- When must a Louisiana real estate licensee provide the Agency Disclosure form to a prospective buyer?
- In Louisiana, when the listing agent and selling agent are from the same brokerage, the transaction is typically handled as:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →