Louisiana real estate Questions with Detailed
Verified Answers
Which of the following is NOT a condition that could force an owner to forfeit the
homestead protection? Ans: The homestead is sold in a bankruptcy sale.
The perfection of a sale should include the thing being sold, the ______, and the
consent of the parties. Ans: Price being paid
To what court may licensees submit an appeal to reverse the Louisiana Real Estate
Commission's decision for a license law violation? Ans: 19th Judicial District Court
On Thursday, licensee Patricia just signed her first contract on her listing? Copies of
the signed contract must be provided by when? Ans: Tuesday (5 days)
Rowena, the subject of an administrative law hearing, has decided to appeal her license
revocation to the 19th Judicial District Court. What's the status of her license until the
appeal is heard? Ans: Revoked
Callie, who's suffering from Alzheimer's disease, signs a contract to purchase Jerry's
New Orleans home. Before the deal closes, a court determines that Callie is an
interdict, or someone who doesn't possess the mental capacity to enter into contracts.
Which party is permitted to void the contract? Ans: Callie
Mason is the listing agent for a seller who's completed a property disclosure form. For
how long must this form be retained? Ans: For at least five years
Nala and Simba purchase a home from Rafiki. The real estate purchase contract is an
example of a(n) ______ contract. Ans: Onerous contract
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.
, One advantage to using electronic documents and signatures is convenience. Another
advantage is that ______. Ans: They carry the same legal weight as hard-copy
documents or "wet" signatures
_____ is property acquired during marriage and owned equally between the two
spouses. Ans: Community property
Which of the following statements about net listings in Louisiana is true? Ans: They're
illegal in Louisiana.
Travis, who's licensed in another state, has a client who's decided on a home in
Louisiana. Can he still work with that client? Ans: No. Travis must apply for a
reciprocal license to practice real estate in Louisiana.
In Louisiana what sanctions can Real Estate Commission impose on licensees for
license law violations? Ans: Their license may be suspended or revoked, and the
commission may levy fines or civil penalties, or order continuing education
requirements.
Leonard donated the family farm to his daughter when he decided to move to the city,
but he added a stipulation that he be allowed to use and stay at the hunting cabin in
the woods for the remainder of his life. This is an example of _____. Ans:
Reservation of usufruct
A real estate licensee and his client fulfill the listing agreement, and the agency
relationship terminated. At what point did the agent's fiduciary duty of confidentiality
to this client terminate? Ans: Never
Michael, a Louisiana real estate licensee, just wrapped up a sale of a single-family home.
How long must Michael's firm retain the related contracts and forms? Ans: 5 years
Craig died intestate. Both his wife and their only son predeceased him. Who inherits
Craig's estate? Ans: Craigs grandchildren
© Get it right 2025 Getaway - Stuvia US All rights reserved
Verified Answers
Which of the following is NOT a condition that could force an owner to forfeit the
homestead protection? Ans: The homestead is sold in a bankruptcy sale.
The perfection of a sale should include the thing being sold, the ______, and the
consent of the parties. Ans: Price being paid
To what court may licensees submit an appeal to reverse the Louisiana Real Estate
Commission's decision for a license law violation? Ans: 19th Judicial District Court
On Thursday, licensee Patricia just signed her first contract on her listing? Copies of
the signed contract must be provided by when? Ans: Tuesday (5 days)
Rowena, the subject of an administrative law hearing, has decided to appeal her license
revocation to the 19th Judicial District Court. What's the status of her license until the
appeal is heard? Ans: Revoked
Callie, who's suffering from Alzheimer's disease, signs a contract to purchase Jerry's
New Orleans home. Before the deal closes, a court determines that Callie is an
interdict, or someone who doesn't possess the mental capacity to enter into contracts.
Which party is permitted to void the contract? Ans: Callie
Mason is the listing agent for a seller who's completed a property disclosure form. For
how long must this form be retained? Ans: For at least five years
Nala and Simba purchase a home from Rafiki. The real estate purchase contract is an
example of a(n) ______ contract. Ans: Onerous contract
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.
, One advantage to using electronic documents and signatures is convenience. Another
advantage is that ______. Ans: They carry the same legal weight as hard-copy
documents or "wet" signatures
_____ is property acquired during marriage and owned equally between the two
spouses. Ans: Community property
Which of the following statements about net listings in Louisiana is true? Ans: They're
illegal in Louisiana.
Travis, who's licensed in another state, has a client who's decided on a home in
Louisiana. Can he still work with that client? Ans: No. Travis must apply for a
reciprocal license to practice real estate in Louisiana.
In Louisiana what sanctions can Real Estate Commission impose on licensees for
license law violations? Ans: Their license may be suspended or revoked, and the
commission may levy fines or civil penalties, or order continuing education
requirements.
Leonard donated the family farm to his daughter when he decided to move to the city,
but he added a stipulation that he be allowed to use and stay at the hunting cabin in
the woods for the remainder of his life. This is an example of _____. Ans:
Reservation of usufruct
A real estate licensee and his client fulfill the listing agreement, and the agency
relationship terminated. At what point did the agent's fiduciary duty of confidentiality
to this client terminate? Ans: Never
Michael, a Louisiana real estate licensee, just wrapped up a sale of a single-family home.
How long must Michael's firm retain the related contracts and forms? Ans: 5 years
Craig died intestate. Both his wife and their only son predeceased him. Who inherits
Craig's estate? Ans: Craigs grandchildren
© Get it right 2025 Getaway - Stuvia US All rights reserved
