Louisiana State Portion Real Estate Exam
Practice - 1
Charlie represents Sue, a buyer. Claude represents Denise, the seller. Charlie expects to be
paid from a split of the commission Denise pays Claude's brokerage. For Denise to pay
Charlie's commission, what is needed? - ANS-Denise's written permission
An Arkansas licensee wants to obtain a reciprocal license in Louisiana. Which of the following
statements is true? - ANS-She must submit proof of licensure in Arkansas.
Which of the following is a specific privilege filed by a supplier of products for the construction or
improvement of a Louisiana building? - ANS-Materialmen's
Full ownership in Louisiana is the equivalent of _____ in common law. - ANS-Ownership in
severalty
A lender was not able to recover all of the losses incurred during the foreclosure process. What
could it pursue to recoup these losses? - ANS-Deficiency judgment
Which of the following statements about post-licensing education requirements is true for real
estate licensees in Louisiana? - ANS-Licensees must complete 45 hours of PLE within their first
180 days of licensure.
The perfection of a sale in Louisiana should include the thing being sold, the price being paid for
the thing, and one other item. What is it? - ANS-Consent of the parties
What's the term used for an offer that's able to be rescinded at any time before acceptance? -
ANS-A revocable offer
What type of Louisiana foreclosure ensues if a borrower defaults and the promissory note
doesn't include a confession to judgment clause? - ANS-Ordinary
George holds a salesperson license in Mississippi and want to obtain a salesperson license in
Louisiana. Who must he appoint as his agent for service of process for real estate activities? -
ANS-The Louisiana Real Estate Commission's executive director
The right to use and enjoy another person's property for a limited time is the right of _____. -
ANS-Usufruct
Which party has the duty to "use the property for the purpose for which was leased"? -
ANS-Lessee
, Of the fiduciary duties an agent owes to a client, which one was left out of the following string:
loyalty, care, obedience, confidentiality, accounting? - ANS-Disclosure
What is a naked owner? - ANS-The owner of a thing under a usufruct
When conflict exists regarding building restrictions, which of the following does NOT take
precedence? - ANS-Louisiana Covenants and Restrictions Act
Sabrina, a Baton Rouge licensee discloses to a potential buyer that she's not only the listing
agent, but also the owner of the property the buyer's interested in. She makes this disclosure of
personal interest because ______. - ANS-It's required under Louisiana law
You represent a buyer. What information may you share with the seller without breaching the
duty of confidentiality? - ANS-The buyer's inability to obtain financing
Under the statute of ______, if legal remedy is sought against a person, the pursuer must bring
a court action within a specified period of time. - ANS-Limitations
What is true about the nominal interest of a Louisiana wrap-around mortgage? - ANS-It's
exempt from usury laws.
The right to use a thing and exclude others from using it is called _____. - ANS-Usus
Lisa's real estate license has been suspended. Which entity had the power to do this? -
ANS-The Louisiana Real Estate Commission
Which of the following requirements pertain to real estate salesperson licensure applicants in
Louisiana? - ANS-Applicants must be 18 years of age or older.
What is an onerous donation? - ANS-Imposes conditions (aka charges) on the donee
Sia is accusing her former real estate salesperson, Robert, of misrepresentation. At what point
will the commission begin to investigate Sia's claim? - ANS-When she submits a formal written
complaint to the LREC
Which of the following is considered a component by incorporation? - ANS-Drywall
Louisiana licensees must complete their required post-licensing education within how long after
receiving their initial licenses? - ANS-180 days
Seller Theo has found a buyer, Marlene, for his property. The two of them are about to enter into
a contract when Theo receives an email from Marlene. Turns out that Minnie's co-worker used
to date Theo and told Marlene he'd cheated on his construction contractor licensing exam.
Practice - 1
Charlie represents Sue, a buyer. Claude represents Denise, the seller. Charlie expects to be
paid from a split of the commission Denise pays Claude's brokerage. For Denise to pay
Charlie's commission, what is needed? - ANS-Denise's written permission
An Arkansas licensee wants to obtain a reciprocal license in Louisiana. Which of the following
statements is true? - ANS-She must submit proof of licensure in Arkansas.
Which of the following is a specific privilege filed by a supplier of products for the construction or
improvement of a Louisiana building? - ANS-Materialmen's
Full ownership in Louisiana is the equivalent of _____ in common law. - ANS-Ownership in
severalty
A lender was not able to recover all of the losses incurred during the foreclosure process. What
could it pursue to recoup these losses? - ANS-Deficiency judgment
Which of the following statements about post-licensing education requirements is true for real
estate licensees in Louisiana? - ANS-Licensees must complete 45 hours of PLE within their first
180 days of licensure.
The perfection of a sale in Louisiana should include the thing being sold, the price being paid for
the thing, and one other item. What is it? - ANS-Consent of the parties
What's the term used for an offer that's able to be rescinded at any time before acceptance? -
ANS-A revocable offer
What type of Louisiana foreclosure ensues if a borrower defaults and the promissory note
doesn't include a confession to judgment clause? - ANS-Ordinary
George holds a salesperson license in Mississippi and want to obtain a salesperson license in
Louisiana. Who must he appoint as his agent for service of process for real estate activities? -
ANS-The Louisiana Real Estate Commission's executive director
The right to use and enjoy another person's property for a limited time is the right of _____. -
ANS-Usufruct
Which party has the duty to "use the property for the purpose for which was leased"? -
ANS-Lessee
, Of the fiduciary duties an agent owes to a client, which one was left out of the following string:
loyalty, care, obedience, confidentiality, accounting? - ANS-Disclosure
What is a naked owner? - ANS-The owner of a thing under a usufruct
When conflict exists regarding building restrictions, which of the following does NOT take
precedence? - ANS-Louisiana Covenants and Restrictions Act
Sabrina, a Baton Rouge licensee discloses to a potential buyer that she's not only the listing
agent, but also the owner of the property the buyer's interested in. She makes this disclosure of
personal interest because ______. - ANS-It's required under Louisiana law
You represent a buyer. What information may you share with the seller without breaching the
duty of confidentiality? - ANS-The buyer's inability to obtain financing
Under the statute of ______, if legal remedy is sought against a person, the pursuer must bring
a court action within a specified period of time. - ANS-Limitations
What is true about the nominal interest of a Louisiana wrap-around mortgage? - ANS-It's
exempt from usury laws.
The right to use a thing and exclude others from using it is called _____. - ANS-Usus
Lisa's real estate license has been suspended. Which entity had the power to do this? -
ANS-The Louisiana Real Estate Commission
Which of the following requirements pertain to real estate salesperson licensure applicants in
Louisiana? - ANS-Applicants must be 18 years of age or older.
What is an onerous donation? - ANS-Imposes conditions (aka charges) on the donee
Sia is accusing her former real estate salesperson, Robert, of misrepresentation. At what point
will the commission begin to investigate Sia's claim? - ANS-When she submits a formal written
complaint to the LREC
Which of the following is considered a component by incorporation? - ANS-Drywall
Louisiana licensees must complete their required post-licensing education within how long after
receiving their initial licenses? - ANS-180 days
Seller Theo has found a buyer, Marlene, for his property. The two of them are about to enter into
a contract when Theo receives an email from Marlene. Turns out that Minnie's co-worker used
to date Theo and told Marlene he'd cheated on his construction contractor licensing exam.
