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 a holographic will?

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

Question 2

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

Question 3

What is homestead protection

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

Question 4

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

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

Question 5

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

A	novation
B	Premises
C	acknowledgement
D	Habendum

Question 6

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 7

Which is not necessary for a valid contract?

A	legal object
B	acceptance
C	due date
D	offer

Question 8

An easement by prescription may establish

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

Question 9

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

A	Taxation
B	police power
C	Eminent Domain
D	escheat

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

How much is a Salesperson license fee?

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

Question 11

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 have legal representation
C	None; the broker may only collect compensation from one party to a transaction
D	Only when both buyer and seller give informed consent to this arrangement

Question 12

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	shutoff the gas
D	lock the tenant out of the apartment

Question 13

Does Rhode Island have homestead laws?

A	Yes
B	No

Question 14

How often is Continuing Education Due?

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

Question 14 Explanation:

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

Question 15

Does Rhode Island allow reciprocity with other states?

A	Yes
B	No

Question 15 Explanation:

Massachusetts & Connecticut

Question 16

Does Rhode Island have dower laws?

A	No
B	Yes

Question 17

Does Rhode Island allow Holographic wills?

A	No
B	Yes

Question 18

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

Question 19

What tenancies does Rhode Island allow?

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

Question 20

Is Rhode Island a community property state?

A	No
B	Yes

Question 21

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 sit and pass the required exam
D	Must have a Bachelors degree

Question 22

Standing trees would be considered

A	Emblements
B	Chattels
C	Real property
D	Personal Property

Question 23

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

A	Connecticut
B	California
C	New Jersey
D	New York

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Rhode Island Real Estate Exam Prep

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