Louisiana License Law
What is the purpose of the LREC's Real Estate Recovery Fund?
ATo fund LREC's operating expenses
BTo compensate consumers who suffer monetary losses due to fraud, misrepresentation, or dishonest conduct by a licensed real estate agent✓ Correct
CTo pay broker commissions when buyers refuse to pay
DTo fund continuing education programs for licensees
Explanation
The Real Estate Recovery Fund provides compensation to consumers who suffer financial losses due to fraud, misrepresentation, or dishonest conduct by a Louisiana real estate licensee, after obtaining a final court judgment.
Related Louisiana Louisiana License Law Questions
- In Louisiana, the real estate licensing exam is administered by:
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- How many hours of continuing education must Louisiana licensees complete per two-year renewal period?
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