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

Does Rhode Island have dower laws?

A	Yes
B	No

Question 2

What is a holographic will?

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

Question 3

Standing trees would be considered

A	Chattels
B	Personal Property
C	Real property
D	Emblements

Question 4

Does Rhode Island have homestead laws?

A	No
B	Yes

Question 5

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

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

Question 6

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 have legal representation
C	Only when both buyer and seller give informed consent to this arrangement
D	In most circumstances, except when the buyer and seller are related

Question 7

What is homestead protection

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

Question 8

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

A	Lessee
B	Buyer
C	Agent
D	Lessor

Question 9

Does Rhode Island allow reciprocity with other states?

A	Yes
B	No

Question 9 Explanation:

Massachusetts & Connecticut

Question 10

Is Rhode Island a community property state?

A	No
B	Yes

Question 11

How much is a Salesperson license fee?

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

Question 12

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

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

Question 13

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

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

Question 14

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

A	California
B	Connecticut
C	New Jersey
D	New York

Question 15

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

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

Question 16

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

A	police power
B	escheat
C	Taxation
D	Eminent Domain

Question 16 Explanation:

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

Question 17

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

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

Question 18

How often is Continuing Education Due?

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

Question 18 Explanation:

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

Question 19

Does Rhode Island allow Holographic wills?

A	No
B	Yes

Question 20

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

A	Habendum
B	acknowledgement
C	novation
D	Premises

Question 21

An easement by prescription may establish

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

Question 22

What tenancies does Rhode Island allow?

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

Question 23

Which is not necessary for a valid contract?

A	acceptance
B	offer
C	legal object
D	due date

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Rhode Island Real Estate Exam Prep

RI Salesperson Practice Exam

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