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

What is homestead protection

A	The estimated value that an asset will have at then end of it's useful life
B	Gradual subsidence of waters, leaving dry land
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 2

Does Rhode Island have dower laws?

A	Yes
B	No

Question 3

How often is Continuing Education Due?

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

Question 3 Explanation:

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

Question 4

Standing trees would be considered

A	Chattels
B	Emblements
C	Personal Property
D	Real property

Question 5

An easement by prescription may establish

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

Question 6

How much is a Salesperson license fee?

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

Question 7

Does Rhode Island allow reciprocity with other states?

A	No
B	Yes

Question 7 Explanation:

Massachusetts & Connecticut

Question 8

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 9

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

A	escheat
B	Taxation
C	police power
D	Eminent Domain

Question 9 Explanation:

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

Question 10

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

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

Question 11

Does Rhode Island have homestead laws?

A	Yes
B	No

Question 12

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

A	novation
B	acknowledgement
C	Premises
D	Habendum

Question 13

Is Rhode Island a community property state?

A	Yes
B	No

Question 14

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

A	New Jersey
B	Connecticut
C	New York
D	California

Question 15

Which is not necessary for a valid contract?

A	acceptance
B	offer
C	legal object
D	due date

Question 16

What tenancies does Rhode Island allow?

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

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

Question 18

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

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

Question 19

Does Rhode Island allow Holographic wills?

A	No
B	Yes

Question 20

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

A	Buyer
B	Lessee
C	Agent
D	Lessor

Question 21

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 and testament that has been entirely handwritten and signed by the testator.
D	a will that displays in 3D

Question 22

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