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Real Estate Salesperson Exam — National Portion

Trust money (LA): practice questions

Our Real Estate (National) bank has 5 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Louisiana

Under Act 807 of 2026, what minimum deposit must a residential wholesaling contract include?

  1. A flat $1,000, held by the closing attorney
  2. One percent of the purchase price, held in escrow
  3. No deposit, if the seller waives it in writing
  4. Five percent of the price, paid to the seller directly
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B. One percent of the purchase price, held in escrow — La. R.S. 37:1448.5(E)(3), enacted by Acts 2026, No. 807.

Question 2 · Louisiana

When a dispute arises over a sales escrow deposit, within what time must the broker take one of the actions the rules allow?

  1. 90 days from the date the purchase agreement was signed by the last party
  2. 10 days from the scheduled closing, regardless of when the dispute was known
  3. 60 days from the scheduled closing or knowledge of the dispute, whichever is first
  4. 30 days from the date the buyer or seller first demands return of the deposit in writing
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C. 60 days from the scheduled closing or knowledge of the dispute, whichever is first — LAC 46:LXVII.2901(A).

Question 3 · Louisiana

May a Louisiana sales escrow account earn interest?

  1. Yes, and the interest belongs to the broker as a handling fee
  2. No; escrow accounts may never bear interest under any terms
  3. Only if all parties with an interest in the funds agree in writing
  4. Only if the commission approves the account in advance
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C. Only if all parties with an interest in the funds agree in writing — LAC 46:LXVII.2711(A).

Question 4 · Louisiana

May an associate broker open a sales escrow checking account?

  1. Yes, if the sponsoring broker co-signs every check
  2. No; funds go into the sponsoring broker's custody
  3. Yes, but only for transactions the associate lists
  4. Only after two years of affiliation with the broker
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B. No; funds go into the sponsoring broker's custody — LAC 46:LXVII.2705(A).

Question 5 · Louisiana

Where must a resident Louisiana broker keep the firm's sales escrow checking account?

  1. In a savings account bearing interest for buyers
  2. In a financial institution in Louisiana
  3. In any federally insured bank in the U.S.
  4. With the commission's designated depository
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B. In a financial institution in Louisiana — LAC 46:LXVII.2701(A).

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