LOUISIANA REAL ESTATE CORRECT EXAMS
ANSWERS AND QUESTIONS SET A+
✔✔What is the maximum number of years to file for redhibition? - ✔✔1 Year
✔✔A husband and father dies leaving a wife and son, which portion of his property is
disposable? - ✔✔75%
✔✔A security deposit can be used for all of the following:
1
2
3 - ✔✔Unpaid rent
Cleaning up
Pet damages
✔✔Bond for deed can be used for what type of property? - ✔✔Immovables only
✔✔Mr. Bill dies intestate with a wife and 2 kids. His wife receives what percentage of
his estate? - ✔✔0%
✔✔A buyer may cancel a bond for deed after the buyer has been in default for how
many days? - ✔✔45 days
✔✔What is the maximum interest rate allowed by law for conventional loans? owner
financing? - ✔✔conventional - 12%
Owner financing - 17%
✔✔If an agent has been inactive for 5 years, he must complete: - ✔✔continuing
education
✔✔An obligation requires: - ✔✔legal cause
, ✔✔A 500$ bonus was given to a salesperson by his principal. Is this allowed? - ✔✔No,
it violates the license law
✔✔How many days does a tenant have to vacate at the end of a lease? - ✔✔10 days
✔✔If a broker has 4 branch offices, how many brokers must be employed? - ✔✔One
broker managing each branch office
✔✔What is the latest that a dual agency form can be signed by both parties? -
✔✔Before you show the house
✔✔How many years does it take to acquire homestead rights if in good faith? - ✔✔10
years
✔✔What is the max monetary penalty for violating license law in Louisiana? - ✔✔$2000
✔✔What is the penalty for usury? - ✔✔Forfeiture of the entire interest
✔✔Can a property manager transfer money between accounts temporarily? - ✔✔No
✔✔How many days notice are required to terminate a lease? - ✔✔10 days
✔✔In Louisiana, you must have what for a valid contract? - ✔✔Cause
✔✔How many days notice must be given to a licensee before a hearing? - ✔✔20 days
✔✔A shared driveway could be an example of a? - ✔✔Predial servitude
✔✔When can an agent have more than one Louisiana broker? - ✔✔Never
✔✔How quickly should an agent provide a copy of a contract to their principle once it is
signed? - ✔✔As soon as possible
✔✔The period for lesion beyond moiety is how long? - ✔✔1 year
✔✔How many days does a broker have to return a license back to the commission if an
agent is transferring to another brokerage? - ✔✔5 days
✔✔Is joint tenancy illegal in Louisiana? - ✔✔Yes, this action is not legal
✔✔The renting of predial and county estates is known as a: - ✔✔farm lease
✔✔Usufruct is given by who? - ✔✔the state
ANSWERS AND QUESTIONS SET A+
✔✔What is the maximum number of years to file for redhibition? - ✔✔1 Year
✔✔A husband and father dies leaving a wife and son, which portion of his property is
disposable? - ✔✔75%
✔✔A security deposit can be used for all of the following:
1
2
3 - ✔✔Unpaid rent
Cleaning up
Pet damages
✔✔Bond for deed can be used for what type of property? - ✔✔Immovables only
✔✔Mr. Bill dies intestate with a wife and 2 kids. His wife receives what percentage of
his estate? - ✔✔0%
✔✔A buyer may cancel a bond for deed after the buyer has been in default for how
many days? - ✔✔45 days
✔✔What is the maximum interest rate allowed by law for conventional loans? owner
financing? - ✔✔conventional - 12%
Owner financing - 17%
✔✔If an agent has been inactive for 5 years, he must complete: - ✔✔continuing
education
✔✔An obligation requires: - ✔✔legal cause
, ✔✔A 500$ bonus was given to a salesperson by his principal. Is this allowed? - ✔✔No,
it violates the license law
✔✔How many days does a tenant have to vacate at the end of a lease? - ✔✔10 days
✔✔If a broker has 4 branch offices, how many brokers must be employed? - ✔✔One
broker managing each branch office
✔✔What is the latest that a dual agency form can be signed by both parties? -
✔✔Before you show the house
✔✔How many years does it take to acquire homestead rights if in good faith? - ✔✔10
years
✔✔What is the max monetary penalty for violating license law in Louisiana? - ✔✔$2000
✔✔What is the penalty for usury? - ✔✔Forfeiture of the entire interest
✔✔Can a property manager transfer money between accounts temporarily? - ✔✔No
✔✔How many days notice are required to terminate a lease? - ✔✔10 days
✔✔In Louisiana, you must have what for a valid contract? - ✔✔Cause
✔✔How many days notice must be given to a licensee before a hearing? - ✔✔20 days
✔✔A shared driveway could be an example of a? - ✔✔Predial servitude
✔✔When can an agent have more than one Louisiana broker? - ✔✔Never
✔✔How quickly should an agent provide a copy of a contract to their principle once it is
signed? - ✔✔As soon as possible
✔✔The period for lesion beyond moiety is how long? - ✔✔1 year
✔✔How many days does a broker have to return a license back to the commission if an
agent is transferring to another brokerage? - ✔✔5 days
✔✔Is joint tenancy illegal in Louisiana? - ✔✔Yes, this action is not legal
✔✔The renting of predial and county estates is known as a: - ✔✔farm lease
✔✔Usufruct is given by who? - ✔✔the state
