Louisiana Real Estate Exam 2022 -
State/National
Mortgagor - ANS-borrower
Mortgagee - ANS-lender
Grantor - ANS-gives, sells, or transfers the property to the grantee
Grantee - ANS-receives the property
Truth in lending (regulation Z) - ANS-intended to do away with deceptive financing tactice
What are the 6 fiduciary duties of a real eestate agent? - ANS-OLDCAR
-obedience
-loyalty
-disclosure
-confidentiality
-accountibility
-reasonable care
What are the kinds of real estate ownership? - ANS--tenancy in severalty
-tenancy in common
-joint tenancy
-tenancy by the entirety
Which type of Louisiana Mortgage is created by complying with the law to recod a mortgage? -
ANS-a legal mortgage
What prevents the owners from making a defense claim during expropriation when their lands
were appropriated either without their protest or with their express consent? - ANS-the st. julien
doctrine
The St. Julien Doctrine - ANS-prevents owners from making a defense claim during
expropriation when their lands were appropriated either without their protest or with their
express consent. public utilities often depend of this doctrine.
Who must supervise a branch office location? - ANS-a broker
One who engages the professional advice & services of a licensee as his agent - ANS-a client
,Timothy and pam are considering purchasing terrence's condo. They are just waiting to look
over the paperwork that louisiana requires each seller to provide to prospective buyers. Which
items are included in the paperwork Terrance is required to provide? - ANS-declaration,
association documentation, by laws, condo certificate
side note* plats and plans are not required
In louisana, under an obligaton, the person who is obligated to perform in another persons favor
is known as the _________? - ANS-obligor
An obligation is a legal relationship in which a person (the ______) becomes bound to perform
in another persons (the ______) favor. - ANS-the obligor
the obligee
A person not represented by, but for whom the licensee is performing misisterial acts -
ANS-customer
example of a ministerial act: - ANS-responding to a phone inquiry about the price of a property
There is no louisiana law regarding the maximum amount of interest a lender can charge on a
business loan. this means that business loans are exempt from: - ANS-usury laws
What loans are exempt from state usury laws? - ANS-business, commercial, and agricultural
Which of the following is NOT a sub-right of the right of habitation? - ANS-a. the right holder has
exclusive use of the house
b. the right holder may live in the house with family
c. the right holder may rent part of the house to boarders
d. the right may be transferred to another natural person
the answer is d.
Can the right of habitation be inherited, transferred, let, or encumbered in any way? - ANS-no
What is an arpent? - ANS--5/6 of an acre or .85 of an acre
-192.24 feet
Can common things be owned by anyone? - ANS-no
Saying "ill sell my house if it snows on christmas" is an example of which of the following
contracts? - ANS-a. aleatory
b. gratuitous
c. onerous
d. unilateral
, the answer is A
What is an aleatory contract? - ANS-a contract in which the performance depends on an
uncertain event.
Which of the following is not a forced heir? - ANS-a. a 10 year old child of the deceased
b. a five year old child of a deceased forced heir
c. a mentally disabled 50 year old child of the deceased
d. the other parent of the deceased's 2 year old child.
the answer is D
Voidable - ANS-relatively null
Is a contract based on fraud relatively null? - ANS-yes
Upon ___ days default, the bond for deed may be cancelled by filing such a notice in the legal
record - ANS-45
The prescription period under redhibition is ______ - ANS-1 year
An act executed and signed by each party before a notary - ANS-authentic act
A contract in which the parties give to each other a thing other than money - ANS-exchange
Louisiana law defines which of the following as a ministerial act? - ANS-a. negotiating the best
price for a seller
b. providing a list of home inspectors along with information on your experience with each
c. scheduling a showing for a listing
d. walking the consumer through information about closing and estimating closing costs
the answer is C
When a mortgagor waives benefit of appraisment, notices and delays, and agrees to executory
process - ANS-confession of judgement
A mechanics lien must be filed within ______ days after the last work is done on the project to
get special protection - ANS-60
When the seller and buyer are liable for repayment of a debt - ANS-assumption
State/National
Mortgagor - ANS-borrower
Mortgagee - ANS-lender
Grantor - ANS-gives, sells, or transfers the property to the grantee
Grantee - ANS-receives the property
Truth in lending (regulation Z) - ANS-intended to do away with deceptive financing tactice
What are the 6 fiduciary duties of a real eestate agent? - ANS-OLDCAR
-obedience
-loyalty
-disclosure
-confidentiality
-accountibility
-reasonable care
What are the kinds of real estate ownership? - ANS--tenancy in severalty
-tenancy in common
-joint tenancy
-tenancy by the entirety
Which type of Louisiana Mortgage is created by complying with the law to recod a mortgage? -
ANS-a legal mortgage
What prevents the owners from making a defense claim during expropriation when their lands
were appropriated either without their protest or with their express consent? - ANS-the st. julien
doctrine
The St. Julien Doctrine - ANS-prevents owners from making a defense claim during
expropriation when their lands were appropriated either without their protest or with their
express consent. public utilities often depend of this doctrine.
Who must supervise a branch office location? - ANS-a broker
One who engages the professional advice & services of a licensee as his agent - ANS-a client
,Timothy and pam are considering purchasing terrence's condo. They are just waiting to look
over the paperwork that louisiana requires each seller to provide to prospective buyers. Which
items are included in the paperwork Terrance is required to provide? - ANS-declaration,
association documentation, by laws, condo certificate
side note* plats and plans are not required
In louisana, under an obligaton, the person who is obligated to perform in another persons favor
is known as the _________? - ANS-obligor
An obligation is a legal relationship in which a person (the ______) becomes bound to perform
in another persons (the ______) favor. - ANS-the obligor
the obligee
A person not represented by, but for whom the licensee is performing misisterial acts -
ANS-customer
example of a ministerial act: - ANS-responding to a phone inquiry about the price of a property
There is no louisiana law regarding the maximum amount of interest a lender can charge on a
business loan. this means that business loans are exempt from: - ANS-usury laws
What loans are exempt from state usury laws? - ANS-business, commercial, and agricultural
Which of the following is NOT a sub-right of the right of habitation? - ANS-a. the right holder has
exclusive use of the house
b. the right holder may live in the house with family
c. the right holder may rent part of the house to boarders
d. the right may be transferred to another natural person
the answer is d.
Can the right of habitation be inherited, transferred, let, or encumbered in any way? - ANS-no
What is an arpent? - ANS--5/6 of an acre or .85 of an acre
-192.24 feet
Can common things be owned by anyone? - ANS-no
Saying "ill sell my house if it snows on christmas" is an example of which of the following
contracts? - ANS-a. aleatory
b. gratuitous
c. onerous
d. unilateral
, the answer is A
What is an aleatory contract? - ANS-a contract in which the performance depends on an
uncertain event.
Which of the following is not a forced heir? - ANS-a. a 10 year old child of the deceased
b. a five year old child of a deceased forced heir
c. a mentally disabled 50 year old child of the deceased
d. the other parent of the deceased's 2 year old child.
the answer is D
Voidable - ANS-relatively null
Is a contract based on fraud relatively null? - ANS-yes
Upon ___ days default, the bond for deed may be cancelled by filing such a notice in the legal
record - ANS-45
The prescription period under redhibition is ______ - ANS-1 year
An act executed and signed by each party before a notary - ANS-authentic act
A contract in which the parties give to each other a thing other than money - ANS-exchange
Louisiana law defines which of the following as a ministerial act? - ANS-a. negotiating the best
price for a seller
b. providing a list of home inspectors along with information on your experience with each
c. scheduling a showing for a listing
d. walking the consumer through information about closing and estimating closing costs
the answer is C
When a mortgagor waives benefit of appraisment, notices and delays, and agrees to executory
process - ANS-confession of judgement
A mechanics lien must be filed within ______ days after the last work is done on the project to
get special protection - ANS-60
When the seller and buyer are liable for repayment of a debt - ANS-assumption
