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Louisiana Real Estate Course Unit 8.2
National Practice Exam Questions and
Correct Answers By Expert
Which of the following statements best describes what
happens with a judicial foreclosure?
Ans: The mortgaged property is sold under the
supervision of a court.
Licensee Alex only represents the buyer in a transaction.
What is Alex called in this situation?
Ans: A single agent
Non-judicial foreclosure is required to foreclose on a
Ans: Deed of Trust.
Earl orally agreed to a 18-month lease with landlord Blake. Is
this contract enforceable?
Nicholas Mwololo
, Page 2
Ans: No, all leases for longer than one year must be in
writing to be enforceable.
Seller Monica is selling her property to Harriet. What is
Monica's primary responsibility at closing?
Ans: To deliver marketable title
Who can qualify for an FHA loan?
Ans: Anyone with qualified income
Neal's home has been foreclosed on and sold at a Sheriff's
sale. The sale brought in $500,000 and the total liabilities on
the home were $425,000. Who receives the additional
$75,000?
Ans: Neal
Nicholas Mwololo
, Page 3
Before an appraiser truly begins an appraisal assignment, he
she must first:
Ans: state the problem to be solved.
Which of the following legal description methods has been
used the longest in the US?
Ans: The metes and bounds system
Broker Jack has an agreement with seller Mauve that says
Jack will receive compensation if anyone except Mauve sells
Mauve's home. This is an example of
Ans: exclusive agency.
One of the major considerations in a master plan is
Ans: the effect of new development on traffic patterns
and the environment.
Nicholas Mwololo
Louisiana Real Estate Course Unit 8.2
National Practice Exam Questions and
Correct Answers By Expert
Which of the following statements best describes what
happens with a judicial foreclosure?
Ans: The mortgaged property is sold under the
supervision of a court.
Licensee Alex only represents the buyer in a transaction.
What is Alex called in this situation?
Ans: A single agent
Non-judicial foreclosure is required to foreclose on a
Ans: Deed of Trust.
Earl orally agreed to a 18-month lease with landlord Blake. Is
this contract enforceable?
Nicholas Mwololo
, Page 2
Ans: No, all leases for longer than one year must be in
writing to be enforceable.
Seller Monica is selling her property to Harriet. What is
Monica's primary responsibility at closing?
Ans: To deliver marketable title
Who can qualify for an FHA loan?
Ans: Anyone with qualified income
Neal's home has been foreclosed on and sold at a Sheriff's
sale. The sale brought in $500,000 and the total liabilities on
the home were $425,000. Who receives the additional
$75,000?
Ans: Neal
Nicholas Mwololo
, Page 3
Before an appraiser truly begins an appraisal assignment, he
she must first:
Ans: state the problem to be solved.
Which of the following legal description methods has been
used the longest in the US?
Ans: The metes and bounds system
Broker Jack has an agreement with seller Mauve that says
Jack will receive compensation if anyone except Mauve sells
Mauve's home. This is an example of
Ans: exclusive agency.
One of the major considerations in a master plan is
Ans: the effect of new development on traffic patterns
and the environment.
Nicholas Mwololo
