Real Estate License Exam ACTUAL
UPDATED Questions and CORRECT
Answers
A real estate licensee may have his/her license revoked for - CORRECT ANSWER -
accepting compensation for brokerage services from someone other than the employing broker
Who must comply with the state license laws? - CORRECT ANSWER -A real property
owner involved in a like kind exchange with another property owner who is represented by a
license
Which of the following is /are regulated by the real estate license laws? - CORRECT
ANSWER -An individual charging a finder's fee for referral of information leading to a
listing
A license may be revoked upon proof of - CORRECT ANSWER -stating to a perspective
client that the listing commission is set by state law
As a salesperson involved in a real estate transaction, you may accept a commission from the -
CORRECT ANSWER -employing broker
A salesperson may advertise a property for sale only - CORRECT ANSWER -if the name
of the employing broker is in the ad
A licensing board or commission has jurisdiction to do which of the following? - CORRECT
ANSWER -Establish that all real estate commissions are negotiable
A broker can have his/her license revoked for - CORRECT ANSWER -failing to pay
salespeople their earned commissions
,A real estate broker hires a secretary who does not have a real estate license to be in charge of
the clerical staff. The broker agrees to pay the secretary a fixed salary. Which of the following
duties may the secretary perform? - CORRECT ANSWER -Typing contracts submitted by
the salespeople in the broker's office
Which of the following requires a real estate license? - CORRECT ANSWER -Obtaining a
listing to find a tenant to rent a store
Which of the following is/are entitled to a hearing before the real estate licensing commission? -
CORRECT ANSWER -One who has passed the state licensing exam and has been denied
a license
A broker is guilty of commingling if he/she maintains client's monies - CORRECT
ANSWER -In a sealed envelope in the office safe
Which of the following actions on the part of a real estate broker or salesperson could result in
license revocation? - CORRECT ANSWER -Quoting to prospective buyer's a sale price
that is lower than the listed price
A licensee could have his/her license revoked for - CORRECT ANSWER -failing to
disclose to the buyer customer the agency relationship he/she has with the buyer
Which of the following is notrequired in an application for a real estate salesperson's license? -
CORRECT ANSWER -U.S. citizenship
A broker's license can be revoked if he/she: - CORRECT ANSWER -directs a salesperson
to make the first bid on the property without notifying the owner in writing that the prospective
purchaser works for the broker
Which of the following is/are true of each broker licensed in the state? - CORRECT
ANSWER -The broker may engage in the business of real estate in less then a full time
capacity
, Which of the following needs a real estate license? - CORRECT ANSWER -Said builder-
owner who is hired by you for a fee to locate a new home for you that was built by his/her
competitors
A broker may deposit into the client escrow deposit account - CORRECT ANSWER -a
small amount of the broker's money to keep the client's accounting system open
Which of the following is/are true? - CORRECT ANSWER -When asked by the buyer, the
broker acting as a, Designated Seller Representative, cannot divulge confidential personal
information about the seller
What are the responsibilities of a broker concerning the monies entrusted to him/her in a real
estate transaction? - CORRECT ANSWER -Provide a full accounting to each party of all
receipts and distributions of any fund entrusted to him/her by the parties.
Which of the following can file suit to collect an earned commission? - CORRECT
ANSWER -A presently inactive salesperson whowants to sue his/her former broker for
payment of earned but unpaid commissions
A broker's license can be revoked if he/she - CORRECT ANSWER -directs a salesperson
to make the first bid on the property without notifying the owner in writing that the prospective
purchaser works for the broker
If a salesperson makes a misrepresentation in selling property: - CORRECT ANSWER -
the contract can be voided by the buyer and the salesperson can be disciplined by the licensing
authority
The purpose of the license law is to - CORRECT ANSWER -protect the general public.
The Rhode Island Real Estate Recovery Fund may be used to settle which of the following -
CORRECT ANSWER -A monetary loss by a person who sold property to a broker who
had an undisclosed interest in the property
UPDATED Questions and CORRECT
Answers
A real estate licensee may have his/her license revoked for - CORRECT ANSWER -
accepting compensation for brokerage services from someone other than the employing broker
Who must comply with the state license laws? - CORRECT ANSWER -A real property
owner involved in a like kind exchange with another property owner who is represented by a
license
Which of the following is /are regulated by the real estate license laws? - CORRECT
ANSWER -An individual charging a finder's fee for referral of information leading to a
listing
A license may be revoked upon proof of - CORRECT ANSWER -stating to a perspective
client that the listing commission is set by state law
As a salesperson involved in a real estate transaction, you may accept a commission from the -
CORRECT ANSWER -employing broker
A salesperson may advertise a property for sale only - CORRECT ANSWER -if the name
of the employing broker is in the ad
A licensing board or commission has jurisdiction to do which of the following? - CORRECT
ANSWER -Establish that all real estate commissions are negotiable
A broker can have his/her license revoked for - CORRECT ANSWER -failing to pay
salespeople their earned commissions
,A real estate broker hires a secretary who does not have a real estate license to be in charge of
the clerical staff. The broker agrees to pay the secretary a fixed salary. Which of the following
duties may the secretary perform? - CORRECT ANSWER -Typing contracts submitted by
the salespeople in the broker's office
Which of the following requires a real estate license? - CORRECT ANSWER -Obtaining a
listing to find a tenant to rent a store
Which of the following is/are entitled to a hearing before the real estate licensing commission? -
CORRECT ANSWER -One who has passed the state licensing exam and has been denied
a license
A broker is guilty of commingling if he/she maintains client's monies - CORRECT
ANSWER -In a sealed envelope in the office safe
Which of the following actions on the part of a real estate broker or salesperson could result in
license revocation? - CORRECT ANSWER -Quoting to prospective buyer's a sale price
that is lower than the listed price
A licensee could have his/her license revoked for - CORRECT ANSWER -failing to
disclose to the buyer customer the agency relationship he/she has with the buyer
Which of the following is notrequired in an application for a real estate salesperson's license? -
CORRECT ANSWER -U.S. citizenship
A broker's license can be revoked if he/she: - CORRECT ANSWER -directs a salesperson
to make the first bid on the property without notifying the owner in writing that the prospective
purchaser works for the broker
Which of the following is/are true of each broker licensed in the state? - CORRECT
ANSWER -The broker may engage in the business of real estate in less then a full time
capacity
, Which of the following needs a real estate license? - CORRECT ANSWER -Said builder-
owner who is hired by you for a fee to locate a new home for you that was built by his/her
competitors
A broker may deposit into the client escrow deposit account - CORRECT ANSWER -a
small amount of the broker's money to keep the client's accounting system open
Which of the following is/are true? - CORRECT ANSWER -When asked by the buyer, the
broker acting as a, Designated Seller Representative, cannot divulge confidential personal
information about the seller
What are the responsibilities of a broker concerning the monies entrusted to him/her in a real
estate transaction? - CORRECT ANSWER -Provide a full accounting to each party of all
receipts and distributions of any fund entrusted to him/her by the parties.
Which of the following can file suit to collect an earned commission? - CORRECT
ANSWER -A presently inactive salesperson whowants to sue his/her former broker for
payment of earned but unpaid commissions
A broker's license can be revoked if he/she - CORRECT ANSWER -directs a salesperson
to make the first bid on the property without notifying the owner in writing that the prospective
purchaser works for the broker
If a salesperson makes a misrepresentation in selling property: - CORRECT ANSWER -
the contract can be voided by the buyer and the salesperson can be disciplined by the licensing
authority
The purpose of the license law is to - CORRECT ANSWER -protect the general public.
The Rhode Island Real Estate Recovery Fund may be used to settle which of the following -
CORRECT ANSWER -A monetary loss by a person who sold property to a broker who
had an undisclosed interest in the property
