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 much is a Salesperson license fee?

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

Question 2

Standing trees would be considered

A	Personal Property
B	Real property
C	Emblements
D	Chattels

Question 3

What is homestead protection

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

Question 4

What tenancies does Rhode Island allow?

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

Question 5

Which is not necessary for a valid contract?

A	legal object
B	offer
C	due date
D	acceptance

Question 6

Does Rhode Island allow reciprocity with other states?

A	No
B	Yes

Question 6 Explanation:

Massachusetts & Connecticut

Question 7

Is Rhode Island a community property state?

A	No
B	Yes

Question 8

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	Convicted of a felony
D	Placing an ad claiming to be a broker when they are not.

Question 9

How often is Continuing Education Due?

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

Question 9 Explanation:

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

Question 10

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

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

Question 11

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

A	police power
B	Taxation
C	Eminent Domain
D	escheat

Question 11 Explanation:

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

Question 12

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

A	Premises
B	novation
C	Habendum
D	acknowledgement

Question 13

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 14

Does Rhode Island have dower laws?

A	Yes
B	No

Question 15

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

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

Question 16

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 17

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 18

Does Rhode Island allow Holographic wills?

A	No
B	Yes

Question 19

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

A	California
B	Connecticut
C	New York
D	New Jersey

Question 20

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

A	Lessor
B	Lessee
C	Buyer
D	Agent

Question 21

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

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

Question 22

An easement by prescription may establish

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

Question 23

Does Rhode Island have homestead laws?

A	No
B	Yes

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Rhode Island Real Estate Exam Prep

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