LOUISIANA REAL ESTATE PRACTICE EXAMS
LOUISIANA REAL ESTATE PRACTICE EXAMS (NATIONAL)
QUESTIONS AND ANSWERS GRADED A+
Real property can be converted to personal property by: ANS >>
severance
Legal descriptions using the government survey system are NOT
generally used in: ANS >> 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: ANS >> prior
appropriation
,LOUISIANA REAL ESTATE PRACTICE EXAMS
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? ANS >> Tenancy at will
A homeowner is willing to let his neighbour 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 neighbour? ANS >> A license
A judgment has been properly recorded. Any subsequent purchasers,
whether they have actually examined the record or not, have been
given: ANS >> constructive notice
The main difference between tenancy in common and joint tenancy is
that with tenancy in common, when a co-owner dies, ANS >> his
undivided interest passes to his heirs
A landowner wishes to build a neighbourhood 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? ANS >>
Conditional use permit or zoning variance
An escheat occurs when: ANS >> a property owner dies without heirs
or a valid will
, LOUISIANA REAL ESTATE PRACTICE EXAMS
A deed restriction is applicable to the activities of: ANS >> all owners,
present and future
An environmental impact statement typically describes the effects of a
proposed project on factors such as: ANS >> public health and safety
Ordinances that specify construction standards are: ANS >> building
codes
Depreciation is calculated based on the: ANS >> cost of the building
only
A competitive market analysis is MOST often used for: ANS >> 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
neighbourhood in which: ANS >> most homes are larger than the sale
home
A formal appraisal will ALWAYS be REQUIRED when the: ANS >> lender
wants to sell the mortgage to the secondary market
LOUISIANA REAL ESTATE PRACTICE EXAMS (NATIONAL)
QUESTIONS AND ANSWERS GRADED A+
Real property can be converted to personal property by: ANS >>
severance
Legal descriptions using the government survey system are NOT
generally used in: ANS >> 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: ANS >> prior
appropriation
,LOUISIANA REAL ESTATE PRACTICE EXAMS
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? ANS >> Tenancy at will
A homeowner is willing to let his neighbour 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 neighbour? ANS >> A license
A judgment has been properly recorded. Any subsequent purchasers,
whether they have actually examined the record or not, have been
given: ANS >> constructive notice
The main difference between tenancy in common and joint tenancy is
that with tenancy in common, when a co-owner dies, ANS >> his
undivided interest passes to his heirs
A landowner wishes to build a neighbourhood 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? ANS >>
Conditional use permit or zoning variance
An escheat occurs when: ANS >> a property owner dies without heirs
or a valid will
, LOUISIANA REAL ESTATE PRACTICE EXAMS
A deed restriction is applicable to the activities of: ANS >> all owners,
present and future
An environmental impact statement typically describes the effects of a
proposed project on factors such as: ANS >> public health and safety
Ordinances that specify construction standards are: ANS >> building
codes
Depreciation is calculated based on the: ANS >> cost of the building
only
A competitive market analysis is MOST often used for: ANS >> 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
neighbourhood in which: ANS >> most homes are larger than the sale
home
A formal appraisal will ALWAYS be REQUIRED when the: ANS >> lender
wants to sell the mortgage to the secondary market
