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Louisiana Real Estate Practice Exams (National) Questions and Correct Answers | Latest Update $12.49   Add to cart

Exam (elaborations)

Louisiana Real Estate Practice Exams (National) Questions and Correct Answers | Latest Update

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Real property can be converted to personal property by: -:- severance Legal descriptions using the government survey system are NOT generally used in: -:- the original 13 states Although states make specific laws governing water rights and the rights in land that borders water, most states ...

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  • September 19, 2024
  • 35
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Louisiana
  • Louisiana
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2024 /2025 | © copyright | This work may not be copied for profit gain Excel!




Louisiana Real Estate Practice Exams
(National) Questions and Correct Answers |
Latest Update
Real property can be converted to personal property by:


✓ -:- severance




Legal descriptions using the government survey system are NOT generally used in:


✓ -:- 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:


✓ -:- 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?


✓ -:- Tenancy at will


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,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!




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?


✓ -:- A license




A judgment has been properly recorded. Any subsequent purchasers, whether they have

actually examined the record or not, have been given:


✓ -:- constructive notice




The main difference between tenancy in common and joint tenancy is that with tenancy in

common, when a co-owner dies,


✓ -:- 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?


✓ -:- Conditional use permit or zoning variance




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,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!



An escheat occurs when:


✓ -:- a property owner dies without heirs or a valid will




A deed restriction is applicable to the activities of:


✓ -:- all owners, present and future




An environmental impact statement typically describes the effects of a proposed project on

factors such as:


✓ -:- public health and safety




Ordinances that specify construction standards are:


✓ -:- building codes




Depreciation is calculated based on the:


✓ -:- cost of the building only




A competitive market analysis is MOST often used for:



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, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!



✓ -:- 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:


✓ -:- most homes are larger than the sale home




A formal appraisal will ALWAYS be REQUIRED when the:


✓ -:- lender wants to sell the mortgage to the secondary market




A competitive market analysis takes into consideration:


✓ -:- square footage of the subject property




When compiling a competitive market analysis, a broker would look for comparable

properties that:


✓ -:- were located near the property being listed




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