Rhode Island Real Estate Exam Prep

RI Salesperson Practice Exam

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Rhode Island Sample Practice Real Estate Exam Questions and Answers

Rhode Island State Section

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Question 1

How often is Continuing Education Due?

A	Every 3 years
B	Every year
C	Every 2 years
D	Every 5 years

Question 1 Explanation:

24 Hours of CE every 2 years. R.I. Department of Business Regulation, Division of Commercial Licensing & Regulation

Question 2

Does Rhode Island allow reciprocity with other states?

A	No
B	Yes

Question 2 Explanation:

Massachusetts & Connecticut

Question 3

Who is responsible for maintaining a habitable property and for complying with local housing and building codes

A	Lessee
B	Lessor
C	Agent
D	Buyer

Question 4

What is the term that means "going to the state"

A	Eminent Domain
B	Taxation
C	police power
D	escheat

Question 4 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 5

What is homestead protection

A	Net cash remaining to investor after sale of investment property
B	The estimated value that an asset will have at then end of it's useful life
C	Gradual subsidence of waters, leaving dry land
D	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.

Question 6

Which is not necessary for a valid contract?

A	acceptance
B	offer
C	due date
D	legal object

Question 7

Does Rhode Island allow Holographic wills?

A	Yes
B	No

Question 8

Mortgage "discount" points only apply if which of the following conditions are met?

A	The loan does not close and the buyer owes the lender for services rendered
B	The interest rate on the mortgage loan has been lowered by 1% for each point charged
C	The interest rate on the mortgage loan has been lowered by 2% for each point charged
D	The seller has agreed to pay 1% of the closing costs

Question 9

Does Rhode Island have dower laws?

A	No
B	Yes

Question 10

What is a holographic will?

A	a will that has been approved by each family member.
B	a will that displays in 3D
C	a standard boiler plate will.
D	a will and testament that has been entirely handwritten and signed by the testator.

Question 11

What tenancies does Rhode Island allow?

A	Tenancy by the Entirety
B	Tenancy in Common
C	All of the Above
D	Joint Tenancy

Question 12

An easement by prescription may establish

A	a claim to title
B	homestead rights
C	use of property
D	who owes back taxes

Question 13

How soon can a broker receive a commission check after a closing in state?

A	After the transaction is completed and funded.
B	Once the seller agrees to the price.
C	Once the offer sheet is signed.
D	When the Buyer moves in.

Question 14

In what circumstances, if any, can a broker in Rhode Island who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	None; the broker may only collect compensation from one party to a transaction
B	Only when both buyer and seller give informed consent to this arrangement
C	In most circumstances, except when the buyer and seller are related
D	Only when both buyer and seller have legal representation

Question 15

How much is a Salesperson license fee?

A	$130
B	$10
C	$100
D	$25

Question 16

Which of the following would not put a sales person in jeopardy of losing their license in Rhode Island?

A	Being authorized to accept and excessive commission.
B	Depositing his/her clients escrow money into a personal account
C	Placing an ad claiming to be a broker when they are not.
D	Convicted of a felony

Question 17

Which of the following is a landlords option for a tenant not paying the rent

A	shut off the power
B	lock the tenant out of the apartment
C	unlawful detainer action in court
D	shutoff the gas

Question 18

Does Rhode Island have homestead laws?

A	No
B	Yes

Question 19

Is Rhode Island a community property state?

A	Yes
B	No

Question 20

Which of the following isn't part of a deed?

A	Premises
B	acknowledgement
C	novation
D	Habendum

Question 21

Which of the following is a state that participates in reciprocity with Rhode Island?

A	Connecticut
B	New Jersey
C	California
D	New York

Question 22

Which of the following is required for an applicant to receive a Real Estate License

A	Must have a Bachelors degree
B	Must sit and pass the required exam
C	Must be 25 or older
D	Must have lived in the state for more than a year

Question 23

Standing trees would be considered

A	Real property
B	Chattels
C	Emblements
D	Personal Property

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Rhode Island Real Estate Exam Prep

RI Salesperson Practice Exam

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