Final answer:
The Michigan Department of Licensing and Regulatory Affairs (LARA) is responsible for licensing and regulating real estate brokers and salespersons in Michigan. The correct option is C.
Step-by-step explanation:
The entity responsible for licensing and regulating the practices of real estate brokers and salespersons in Michigan is the Michigan Department of Licensing and Regulatory Affairs (LARA).
This department regulates and supervises various professions and industries, including real estate. They ensure that real estate professionals are qualified and adhere to the state laws and regulations. This responsibility includes overseeing the sale of securities and the brokers, dealers, and bankers who sell them, maintaining a fair and trustworthy market.
Hence, Option C is correct.