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Louisiana Real Estate Course Unit 8.2
National Practice Exam Questions with
Correct Answers for Specific Exam
Mail
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?
Pretest - Stuvia US
,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
Before an appraiser truly begins an appraisal assignment,
he she must first:
Ans: state the problem to be solved.
Pretest - Stuvia US
, 3
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.
Homeowner Louise has been lax in protecting her
property rights. According to the ___________, Louise may
lose those property rights.
Ans: Doctrine of Laches
A tenant who stays beyond his lease without consent of
the landlord is known as
Pretest - Stuvia US
Louisiana Real Estate Course Unit 8.2
National Practice Exam Questions with
Correct Answers for Specific Exam
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?
Pretest - Stuvia US
,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
Before an appraiser truly begins an appraisal assignment,
he she must first:
Ans: state the problem to be solved.
Pretest - Stuvia US
, 3
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.
Homeowner Louise has been lax in protecting her
property rights. According to the ___________, Louise may
lose those property rights.
Ans: Doctrine of Laches
A tenant who stays beyond his lease without consent of
the landlord is known as
Pretest - Stuvia US
