©EVERLY 2025 ALL RIGHTS RESERVED
Louisiana Real Estate Practice Exams
(National) Questions And Answers Latest
Updated 2025 |100% Verified.
Real property can be converted to personal property by: - Answer✔severance
Legal descriptions using the government survey system are NOT generally used in: -
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: - 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? -
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? - Answer✔A license
A judgment has been properly recorded. Any subsequent purchasers, whether they have
actually examined the record or not, have been given: - Answer✔constructive notice
1
, ©EVERLY 2025 ALL RIGHTS RESERVED
The main difference between tenancy in common and joint tenancy is that with tenancy in
common, when a co-owner dies, - 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? - Answer✔Conditional use permit or zoning variance
An escheat occurs when: - Answer✔a property owner dies without heirs or a valid will
A deed restriction is applicable to the activities of: - Answer✔all owners, present and future
An environmental impact statement typically describes the effects of a proposed project on
factors such as: - Answer✔public health and safety
Ordinances that specify construction standards are: - Answer✔building codes
Depreciation is calculated based on the: - Answer✔cost of the building only
A competitive market analysis is MOST often used for: - 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: - Answer✔most homes are
larger than the sale home
A formal appraisal will ALWAYS be REQUIRED when the: - Answer✔lender wants to sell the
mortgage to the secondary market
A competitive market analysis takes into consideration: - Answer✔square footage of the
subject property
2
, ©EVERLY 2025 ALL RIGHTS RESERVED
When compiling a competitive market analysis, a broker would look for comparable properties
that: - 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? - Answer✔The first sold
A prospective seller asks a salesperson to recommend a listing price for a property. The
salesperson should suggest: - 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: - 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: - Answer✔more
variety of loan programs available
The FHA functions MOST like: - 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: - Answer✔prepayment penalties and
rebates
Which of the following consumers would be able to derive the most benefit from a reverse
mortgage? - 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
Federal Truth-in-Lending laws are also known as: - Answer✔Regulation Z
A broker, acting as agent for the seller, presents an offer to buy from the broker's former
college roommate. The broker knows that the buyer will increase the amount of the offer if the
3
Louisiana Real Estate Practice Exams
(National) Questions And Answers Latest
Updated 2025 |100% Verified.
Real property can be converted to personal property by: - Answer✔severance
Legal descriptions using the government survey system are NOT generally used in: -
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: - 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? -
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? - Answer✔A license
A judgment has been properly recorded. Any subsequent purchasers, whether they have
actually examined the record or not, have been given: - Answer✔constructive notice
1
, ©EVERLY 2025 ALL RIGHTS RESERVED
The main difference between tenancy in common and joint tenancy is that with tenancy in
common, when a co-owner dies, - 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? - Answer✔Conditional use permit or zoning variance
An escheat occurs when: - Answer✔a property owner dies without heirs or a valid will
A deed restriction is applicable to the activities of: - Answer✔all owners, present and future
An environmental impact statement typically describes the effects of a proposed project on
factors such as: - Answer✔public health and safety
Ordinances that specify construction standards are: - Answer✔building codes
Depreciation is calculated based on the: - Answer✔cost of the building only
A competitive market analysis is MOST often used for: - 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: - Answer✔most homes are
larger than the sale home
A formal appraisal will ALWAYS be REQUIRED when the: - Answer✔lender wants to sell the
mortgage to the secondary market
A competitive market analysis takes into consideration: - Answer✔square footage of the
subject property
2
, ©EVERLY 2025 ALL RIGHTS RESERVED
When compiling a competitive market analysis, a broker would look for comparable properties
that: - 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? - Answer✔The first sold
A prospective seller asks a salesperson to recommend a listing price for a property. The
salesperson should suggest: - 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: - 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: - Answer✔more
variety of loan programs available
The FHA functions MOST like: - 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: - Answer✔prepayment penalties and
rebates
Which of the following consumers would be able to derive the most benefit from a reverse
mortgage? - 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
Federal Truth-in-Lending laws are also known as: - Answer✔Regulation Z
A broker, acting as agent for the seller, presents an offer to buy from the broker's former
college roommate. The broker knows that the buyer will increase the amount of the offer if the
3
