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

An easement by prescription may establish

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

Question 2

Does Rhode Island allow Holographic wills?

A	No
B	Yes

Question 3

Does Rhode Island have homestead laws?

A	Yes
B	No

Question 4

Does Rhode Island allow reciprocity with other states?

A	Yes
B	No

Question 4 Explanation:

Massachusetts & Connecticut

Question 5

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 have lived in the state for more than a year
D	Must sit and pass the required exam

Question 6

Is Rhode Island a community property state?

A	Yes
B	No

Question 7

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

A	Taxation
B	Eminent Domain
C	escheat
D	police power

Question 7 Explanation:

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

Question 8

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

Question 9

How much is a Salesperson license fee?

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

Question 10

What tenancies does Rhode Island allow?

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

Question 11

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

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

Question 12

How often is Continuing Education Due?

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

Question 12 Explanation:

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

Question 13

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	Convicted of a felony
C	Depositing his/her clients escrow money into a personal account
D	Placing an ad claiming to be a broker when they are not.

Question 14

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

A	The interest rate on the mortgage loan has been lowered by 2% for each point charged
B	The seller has agreed to pay 1% of the closing costs
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 1% for each point charged

Question 15

Standing trees would be considered

A	Chattels
B	Personal Property
C	Real property
D	Emblements

Question 16

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

A	California
B	New York
C	New Jersey
D	Connecticut

Question 17

Does Rhode Island have dower laws?

A	No
B	Yes

Question 18

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 19

What is homestead protection

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

Question 20

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

A	acknowledgement
B	novation
C	Premises
D	Habendum

Question 21

What is a holographic will?

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

Question 22

Which is not necessary for a valid contract?

A	due date
B	legal object
C	offer
D	acceptance

Question 23

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

A	Agent
B	Buyer
C	Lessee
D	Lessor

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Rhode Island Real Estate Exam Prep

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