Real Estate RI state exam UPDATED ACTUAL Questions and
CORRECT Answers
Question: In terms of financing involved for a real estate purchase which custom is practiced in Rhode
Island?
Correct Answer: Intermediary theory
Question: How many hours of continuing education are required for rhode island real estate licensees?
Correct Answer: 24 hours
Question: To obtain a broker's license in Rhode Island how many years must an applicant be licensed?
Correct Answer: 2 years
Question: Per Rhode Island law what is the penalty imposed on a person for a first time offense acting as a
broker or as a sales person without first obtaining a license?
Correct Answer: possibly a misdemeanor, a fine, or imprisonment
Question: Per Rhode Island license law, within how many days should the principal broker pay the sales-
person once they have received the commission check?-
Correct Answer: Within 10 days
Question: In Rhode Island the amount a broker may charge for a commission is
Correct Answer: negotiable in the listing contract
Question: Who administers the Rhode Island real estate recovery fund?
Correct Answer: The rhode island department of business regulation (DBR)
Question: John is a real estate licensee who works primarily in residential real estate John forgets to renew
his error and insurance and it is canceled. John is current on his continuing education and has been working
in real estate for 15 years which of the following statements is true regarding John and Rhode Island license
law
Correct Answer: John must cease any real estate activities until he renews his insurance
Question: What does the ri department of business regulation director have the authority to do?
Correct Answer: The authority to make and enforce the rules by which all real estate licensees must abide
Question: Per ri real estate law engaging in the real estate business consists of acting for another for a fee in
all of the following activities expect
Correct Answer: reselling a mobile home
Question: for a year-to-year tenancy a landlord must provide how long of notice for eviction?
Correct Answer: 3 months
Question: The DBR will add a fee to the next license renewal date if the balance of the ri real estate
recovery fund falls below what number
Correct Answer: $200,000
CORRECT Answers
Question: In terms of financing involved for a real estate purchase which custom is practiced in Rhode
Island?
Correct Answer: Intermediary theory
Question: How many hours of continuing education are required for rhode island real estate licensees?
Correct Answer: 24 hours
Question: To obtain a broker's license in Rhode Island how many years must an applicant be licensed?
Correct Answer: 2 years
Question: Per Rhode Island law what is the penalty imposed on a person for a first time offense acting as a
broker or as a sales person without first obtaining a license?
Correct Answer: possibly a misdemeanor, a fine, or imprisonment
Question: Per Rhode Island license law, within how many days should the principal broker pay the sales-
person once they have received the commission check?-
Correct Answer: Within 10 days
Question: In Rhode Island the amount a broker may charge for a commission is
Correct Answer: negotiable in the listing contract
Question: Who administers the Rhode Island real estate recovery fund?
Correct Answer: The rhode island department of business regulation (DBR)
Question: John is a real estate licensee who works primarily in residential real estate John forgets to renew
his error and insurance and it is canceled. John is current on his continuing education and has been working
in real estate for 15 years which of the following statements is true regarding John and Rhode Island license
law
Correct Answer: John must cease any real estate activities until he renews his insurance
Question: What does the ri department of business regulation director have the authority to do?
Correct Answer: The authority to make and enforce the rules by which all real estate licensees must abide
Question: Per ri real estate law engaging in the real estate business consists of acting for another for a fee in
all of the following activities expect
Correct Answer: reselling a mobile home
Question: for a year-to-year tenancy a landlord must provide how long of notice for eviction?
Correct Answer: 3 months
Question: The DBR will add a fee to the next license renewal date if the balance of the ri real estate
recovery fund falls below what number
Correct Answer: $200,000
