US Real Estate Louisiana Test 3

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

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Real Estate — Louisiana Professional (Real Estate, USA) USA — Louisiana State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Louisiana.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Louisiana · Education: Professional (Adult) · Part: Real Estate — Louisiana · Country: USA · Region: USA — Louisiana

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

Which agency licenses agents in Louisiana?

A) IRS

B) State Bar

C) Medical Board

D) Louisiana Real Estate Commission

Question 2

What is agency in real estate?

A) ownership

B) tenancy

C) zoning

D) broker acting for a client

Question 3

What classes are protected in housing?

A) income

B) age only

C) race, color, religion, sex, handicap, family, national origin

D) politics

Question 4

What is a listing agreement?

A) contract to sell a property

B) lease

C) deed

D) purchase offer

Question 5

What is earnest money?

A) buyer good-faith deposit

B) tax

C) commission

D) fee

Question 6

What is a fiduciary duty?

A) profit first

B) dual profit

C) loyalty, obedience, care to client

D) secrecy from client

Question 7

What is dual agency?

A) one broker representing both sides

B) no representation

C) two brokers

D) buyer only

Question 8

What is redlining?

A) mapping

B) illegal denial by neighborhood

C) surveying

D) appraising

Question 9

What is steering?

A) guiding buyers by race (illegal)

B) negotiating

C) showing homes

D) advertising

Question 10

What is a CMA?

A) inspection

B) survey

C) comparative market analysis

D) appraisal

Question 11

What is an appraisal?

A) inspection

B) listing

C) professional value opinion

D) offer

Question 12

What are the three appraisal approaches?

A) offer, accept, record

B) sales comparison, cost, income

C) list, sell, close

D) show, stage, sell

Question 13

What is PITI?

A) principal, interest, taxes, insurance

B) a deed

C) a tax

D) a loan type

Question 14

What is LTV?

A) land title verification

B) loan-to-value ratio

C) listing traffic volume

D) lease term value

Question 15

What is PMI?

A) flood insurance

B) property tax

C) title insurance

D) insurance for low down payments

Question 16

What is escrow?

A) neutral third-party holding

B) down payment

C) tax

D) commission

Question 17

What is a deed?

A) loan paper

B) offer

C) ownership transfer document

D) lease

Question 18

What is a warranty deed?

A) quitclaim

B) guarantees clear title

C) lease

D) option

Question 19

What is a quitclaim deed?

A) transfers whatever interest exists

B) lease

C) full warranty

D) loan

Question 20

What is title insurance?

A) flood policy

B) protects against title defects

C) home warranty

D) life insurance

US Real Estate Louisiana Test 3

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