Latest 2026/2027 Louisiana Real Estate Practice Exams questions
verified with correct answers
The main difference between tenancy in common and joint tenancy is that with tenancy
in common, when a co-owner dies, -correct answer >>>his undivided interest passes to
his heirs
A landowner wishes to build a neighborhood grocery store on a busy street in an area
zoned for residential use. Which of the following would MOST likely be used to obtain
permission for this store? -correct answer >>>Conditional use permit or zoning variance
An escheat occurs when: -correct answer >>>a property owner dies without heirs or a
valid will
A deed restriction is applicable to the activities of: -correct answer >>>all owners,
present and future
An environmental impact statement typically describes the effects of a proposed project
on factors such as: -correct answer >>>public health and safety
Ordinances that specify construction standards are: -correct answer >>>building codes
Depreciation is calculated based on the: -correct answer >>>cost of the building only
A competitive market analysis is MOST often used for: -correct answer >>>setting a
listing price
According to the principle of progression, a three-bedroom, one-story home is MOST
likely to bring the highest sales price if located in a neighborhood in which: -correct
answer >>>most homes are larger than the sale home
A formal appraisal will ALWAYS be REQUIRED when the: -correct answer >>>lender
wants to sell the mortgage to the secondary market
A competitive market analysis takes into consideration: -correct answer >>>square
footage of the subject property
When compiling a competitive market analysis, a broker would look for comparable
properties that: -correct answer >>>were located near the property being listed
Three identical homes in a neighborhood were listed at the same time in a market
where demand was constant. According to the law of supply and demand, which would
have sold for the lowest price? -correct answer >>>The first sold
, A prospective seller asks a salesperson to recommend a listing price for a property. The
salesperson should suggest: -correct answer >>>a competitive market analysis to
determine the property's value
A borrower has defaulted on the mortgage. The mortgage contains an acceleration
clause. This permits the lender to: -correct answer >>>demand immediate payment of
the entire note
In helping a buyer to select a lender, if the buyer believes he has good credit and his
income is documentable as a salary and by tax returns, the licensee might recommend
a mortgage banker, instead of a mortgage broker, for all of the following reasons
EXCEPT: -correct answer >>>more variety of loan programs available
The FHA functions MOST like: -correct answer >>>an insurance company
According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all of the
following disclosures MUST appear in the ad EXCEPT the: -correct answer
>>>prepayment penalties and rebates
Which of the following consumers would be able to derive the most benefit from a
reverse mortgage? -correct answer >>>A couple in their late 60?s who need to tap their
home equity to help cover their expenses but do not want to sell their house
Real property can be converted to personal property by: -correct answer >>>severance
Legal descriptions using the government survey system are NOT generally used in: -
correct answer >>>the original 13 states
Although states make specific laws governing water rights and the rights in land that
borders water, most states generally follow one of two basic doctrines regarding water
rights. In many states, the common law doctrine of riparian and littoral rights dictates
that water rights are automatically conveyed with property. In others, all water rights are
controlled by the state under the doctrine of: -correct answer >>>prior appropriation
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the
tenant paid 1 month's rent and got a receipt. What kind of leasehold does the tenant
have? -correct answer >>>Tenancy at will
A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT
want to make the permission permanent in case he dislikes others who might move next
door in the future. What should he give his neighbor? -correct answer >>>A license
A judgment has been properly recorded. Any subsequent purchasers, whether they
have actually examined the record or not, have been given: -correct answer
>>>constructive notice
verified with correct answers
The main difference between tenancy in common and joint tenancy is that with tenancy
in common, when a co-owner dies, -correct answer >>>his undivided interest passes to
his heirs
A landowner wishes to build a neighborhood grocery store on a busy street in an area
zoned for residential use. Which of the following would MOST likely be used to obtain
permission for this store? -correct answer >>>Conditional use permit or zoning variance
An escheat occurs when: -correct answer >>>a property owner dies without heirs or a
valid will
A deed restriction is applicable to the activities of: -correct answer >>>all owners,
present and future
An environmental impact statement typically describes the effects of a proposed project
on factors such as: -correct answer >>>public health and safety
Ordinances that specify construction standards are: -correct answer >>>building codes
Depreciation is calculated based on the: -correct answer >>>cost of the building only
A competitive market analysis is MOST often used for: -correct answer >>>setting a
listing price
According to the principle of progression, a three-bedroom, one-story home is MOST
likely to bring the highest sales price if located in a neighborhood in which: -correct
answer >>>most homes are larger than the sale home
A formal appraisal will ALWAYS be REQUIRED when the: -correct answer >>>lender
wants to sell the mortgage to the secondary market
A competitive market analysis takes into consideration: -correct answer >>>square
footage of the subject property
When compiling a competitive market analysis, a broker would look for comparable
properties that: -correct answer >>>were located near the property being listed
Three identical homes in a neighborhood were listed at the same time in a market
where demand was constant. According to the law of supply and demand, which would
have sold for the lowest price? -correct answer >>>The first sold
, A prospective seller asks a salesperson to recommend a listing price for a property. The
salesperson should suggest: -correct answer >>>a competitive market analysis to
determine the property's value
A borrower has defaulted on the mortgage. The mortgage contains an acceleration
clause. This permits the lender to: -correct answer >>>demand immediate payment of
the entire note
In helping a buyer to select a lender, if the buyer believes he has good credit and his
income is documentable as a salary and by tax returns, the licensee might recommend
a mortgage banker, instead of a mortgage broker, for all of the following reasons
EXCEPT: -correct answer >>>more variety of loan programs available
The FHA functions MOST like: -correct answer >>>an insurance company
According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all of the
following disclosures MUST appear in the ad EXCEPT the: -correct answer
>>>prepayment penalties and rebates
Which of the following consumers would be able to derive the most benefit from a
reverse mortgage? -correct answer >>>A couple in their late 60?s who need to tap their
home equity to help cover their expenses but do not want to sell their house
Real property can be converted to personal property by: -correct answer >>>severance
Legal descriptions using the government survey system are NOT generally used in: -
correct answer >>>the original 13 states
Although states make specific laws governing water rights and the rights in land that
borders water, most states generally follow one of two basic doctrines regarding water
rights. In many states, the common law doctrine of riparian and littoral rights dictates
that water rights are automatically conveyed with property. In others, all water rights are
controlled by the state under the doctrine of: -correct answer >>>prior appropriation
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the
tenant paid 1 month's rent and got a receipt. What kind of leasehold does the tenant
have? -correct answer >>>Tenancy at will
A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT
want to make the permission permanent in case he dislikes others who might move next
door in the future. What should he give his neighbor? -correct answer >>>A license
A judgment has been properly recorded. Any subsequent purchasers, whether they
have actually examined the record or not, have been given: -correct answer
>>>constructive notice
