Louisiana Real Estate
A salesperson must disclose what information when listing as advertisment in a newspaper? -
ANS-Licensed Agent
A fee can be paid for referral of a customer only to to a: - ANS-Licensed Real Estate Agent
How much can the commission pay out of the recovery fund to one person for a judgement? -
ANS-$20,000
If a broker's license is suspended, all salespersons licenses are sent back to the commission
within: - ANS-72 Hours
Earnest money is deposited into a: - ANS-Non-interest bearing escrow account
Eminent domain in Louisiana is known as: - ANS-Expropriation
A person has how many years to make claim under redhibition? - ANS-1 Year
A relationship between the lessee and the lessor is controlled by the Civil Code if is a
__________lease. - ANS-Oral
If a licensee has not renewed his license by February 15th, he must pay a fee of
$_________________-- - ANS-$200
Ownership of land along a seashore is: - ANS-Above the beach to the point of high tide.
The commission has the power to: - ANS-Subpoena licensees for investigative hearings.
A property manager needs a real estate license if: - ANS-he manages property for more than
one owner.
The commission requires all of the following for escrow accounts:
1
2
3 - ANS-Address of bank
Account number
Name on account
Usury ceiling for a conventional loan is _______%. - ANS-12%
The renting of houses and moveable's is known as a ______lease. - ANS-non-farm lease.
, If a sponsoring brokers license is revoked, licensees licenses are: - ANS-automatically
suspended.
An oblige and obligor become one through: - ANS-confusion.
A deposit is given when a contract is signed, but it is not specified as earnest money, if the
buyer changes his mind, he can be forced to do what? - ANS-Buy the house
When does the title transfer from vendor to vendee? - ANS-When both parties execute the
document.
What is used for conveying land whereby the seller retains the title after execution until such
time after execution until such time as a designated amount has been paid in by the buyer at
which time title passes and the seller assumes the position of a mortgage with a security
interest and the buyer-mortgagor assumes the title. - ANS-Bond for Deed
What is the maximum number of years to file for redhibition? - ANS-1 Year
A husband and father dies leaving a wife and son, which portion of his property is disposable? -
ANS-75%
A security deposit can be used for all of the following:
1
2
3 - ANS-Unpaid rent
Cleaning up
Pet damages
Bond for deed can be used for what type of property? - ANS-Immovables only
Mr. Bill dies intestate with a wife and 2 kids. His wife receives what percentage of his estate? -
ANS-0%
A buyer may cancel a bond for deed after the buyer has been in default for how many days? -
ANS-45 days
What is the maximum interest rate allowed by law for conventional loans? owner financing? -
ANS-conventional - 12%
Owner financing - 17%
If an agent has been inactive for 5 years, he must complete: - ANS-continuing education
An obligation requires: - ANS-legal cause
A salesperson must disclose what information when listing as advertisment in a newspaper? -
ANS-Licensed Agent
A fee can be paid for referral of a customer only to to a: - ANS-Licensed Real Estate Agent
How much can the commission pay out of the recovery fund to one person for a judgement? -
ANS-$20,000
If a broker's license is suspended, all salespersons licenses are sent back to the commission
within: - ANS-72 Hours
Earnest money is deposited into a: - ANS-Non-interest bearing escrow account
Eminent domain in Louisiana is known as: - ANS-Expropriation
A person has how many years to make claim under redhibition? - ANS-1 Year
A relationship between the lessee and the lessor is controlled by the Civil Code if is a
__________lease. - ANS-Oral
If a licensee has not renewed his license by February 15th, he must pay a fee of
$_________________-- - ANS-$200
Ownership of land along a seashore is: - ANS-Above the beach to the point of high tide.
The commission has the power to: - ANS-Subpoena licensees for investigative hearings.
A property manager needs a real estate license if: - ANS-he manages property for more than
one owner.
The commission requires all of the following for escrow accounts:
1
2
3 - ANS-Address of bank
Account number
Name on account
Usury ceiling for a conventional loan is _______%. - ANS-12%
The renting of houses and moveable's is known as a ______lease. - ANS-non-farm lease.
, If a sponsoring brokers license is revoked, licensees licenses are: - ANS-automatically
suspended.
An oblige and obligor become one through: - ANS-confusion.
A deposit is given when a contract is signed, but it is not specified as earnest money, if the
buyer changes his mind, he can be forced to do what? - ANS-Buy the house
When does the title transfer from vendor to vendee? - ANS-When both parties execute the
document.
What is used for conveying land whereby the seller retains the title after execution until such
time after execution until such time as a designated amount has been paid in by the buyer at
which time title passes and the seller assumes the position of a mortgage with a security
interest and the buyer-mortgagor assumes the title. - ANS-Bond for Deed
What is the maximum number of years to file for redhibition? - ANS-1 Year
A husband and father dies leaving a wife and son, which portion of his property is disposable? -
ANS-75%
A security deposit can be used for all of the following:
1
2
3 - ANS-Unpaid rent
Cleaning up
Pet damages
Bond for deed can be used for what type of property? - ANS-Immovables only
Mr. Bill dies intestate with a wife and 2 kids. His wife receives what percentage of his estate? -
ANS-0%
A buyer may cancel a bond for deed after the buyer has been in default for how many days? -
ANS-45 days
What is the maximum interest rate allowed by law for conventional loans? owner financing? -
ANS-conventional - 12%
Owner financing - 17%
If an agent has been inactive for 5 years, he must complete: - ANS-continuing education
An obligation requires: - ANS-legal cause
