RIRES - Rhode Island Real Estate Salesperson

Question 21: A principal broker in East Providence collects an advance fee from a seller before any marketing or advertising begins. To comply with Rhode Island regulation, what must the broker furnish the seller at the time the advance fee is accepted?

A refund of half the fee

A completed appraisal report

A list of services to be rendered

A signed net listing agreement

Question 22: A seller offers a bonus incentive to the licensee who brings an acceptable buyer before month's end. When the deal closes, the licensee asks how that seller incentive must reach her. Under the Rhode Island commission rule, how must the incentive be distributed?

Through the principal broker

Directly from the seller

Split with the buyer

Paid at the closing table

Question 23: After a Providence deal falls through, the buyer and seller both sign a written release directing the broker to return the earnest money to the buyer. Within what period must the escrow agent pay out those funds under Rhode Island law?

Within thirty days of the release

Within ten days of the release

Within seven calendar days of resolution

Immediately upon receiving the release

Question 24: An unlicensed individual in East Providence brokers several home sales for compensation and is prosecuted for acting without a license. Under Rhode Island law, how is such a first offense classified, and what criminal punishment may a court impose?

A misdemeanor, fine and jail

A felony punishable by prison

An administrative fine by the director

A civil penalty only

Question 25: A disputed deposit on a Cranston condo has sat in escrow while the buyer and seller argue for months. Rhode Island caps how long the broker may hold contested funds, measured from a specific starting point. What is that outer deadline?

One hundred eighty days from the dispute

Ninety days from the failed closing

One hundred eighty days from original deposit

One year from the original deposit

Question 26: A licensee argues that because she did not act knowingly or willfully, the director cannot impose the administrative penalty for her escrow violation. Regarding the state of mind required, what does the disciplinary section actually provide about willfulness or knowledge?

Willfulness doubles the penalty

Only knowing violations are penalized

Willfulness is required for revocation

No willfulness tier exists

Question 27: An uncertified licensee in Westerly wants to give a seller a written opinion of value to support pricing without violating Rhode Island's appraisal rules. Which product may she lawfully provide, provided she includes the prescribed non-appraisal disclaimer along with it?

A comparative market analysis

A USPAP-conforming appraisal

A certified valuation report

A formal appraisal opinion

Question 28: A salesperson terminates her affiliation with a brokerage while several commissions remain pending. She asks when the brokerage owes her a full accounting of what she is due. Under the Rhode Island commission rule, what deadline applies after termination of affiliation?

Within ten days of termination

Within thirty days of termination

Within thirty days of closing

Within ninety days of termination

Question 29: A Westerly buyer argues that because she supplied the earnest money, any interest earned in the broker's escrow account should be credited to her at closing. The parties signed no term addressing interest. How does Rhode Island resolve her claim?

Interest is split evenly between parties

Interest follows the earnest money principal

Interest accrues to the licensee

Interest goes to the general treasurer

Question 30: A property manager in East Providence collects a tenant's security deposit for a rental unit, and no purchase and sales agreement is involved. Under Rhode Island law, how must the licensee handle those client funds while holding them?

Keep them in the operating account

Hold the cash until lease ends

Remit them to the state treasurer

Place them in an escrow account

Question 31: A licensee is representing her own brother-in-law as the buyer in a purchase, without any ownership stake in the property herself. Under Rhode Island's conflict-of-interest disclosure rule, is this family relationship something she must disclose in writing to the other party?

No, only ownership triggers it

No, in-laws are excluded

Yes, representing a family member

Only if commission is affected

Question 32: An inactive licensee agrees to let a newcomer operate under his license and affiliate with a principal broker who does no real estate activity, purely so the newcomer can skirt the licensing requirements. Which Rhode Island prohibition does this arrangement break?

Lending one's name or license

The net listing prohibition

The advance fee rule

The pre-printed commission ban

Question 33: A coastal cottage near Narragansett is served by a cesspool and is now under agreement to be sold. The Rhode Island Cesspool Act governs what happens to that cesspool once the property changes hands. Within what period after the sale must the cesspool be removed?

Within ten days of transfer

Within sixty days of closing

Before the closing date

Within twelve months of transfer

Question 34: A buyer considering a wooded lot near Westerly learns that Rhode Island's freshwater wetlands law imposes a protective buffer around ordinary freshwater wetlands such as a small swamp, which can limit where a house may be built. How wide is that buffer?

Two hundred feet

One hundred feet

Fifty feet

Twenty-five feet

Question 35: A licensee explains to a seller why the statutory minimum validity of a smoke and carbon monoxide detector certificate matters in a transaction that will take several weeks to close. What practical purpose does the one-hundred-twenty-day floor serve for the parties?

It stays valid through closing

It waives the inspection entirely

It lowers the buyer's closing costs

It transfers the detectors to the buyer

Question 36: A seller in Westerly obtains a smoke detector and carbon monoxide detector certificate from the local authority and worries it may expire before the closing weeks away. Rhode Island fire safety law sets a floor on how long such a certificate stays valid. What is that minimum period?

At least thirty days

At least sixty days

At least one year

At least one hundred twenty days

Question 37: A buyer's agent in East Providence learns that a violent felony once occurred inside a listed colonial. The nervous seller asks whether this psychological history is something the law classifies as a material fact that must be disclosed to buyers. How does the statute treat it?

A material fact requiring disclosure

Not a material fact requiring disclosure

Material only for violent felonies

Disclosable if the buyer is minor

Question 38: A single licensee in Middletown is asked to help both the buyer and the seller in the very same transaction. Under Rhode Island law, in what one capacity may that licensee lawfully assist both of those parties at the same time?

As a designated client representative

As each party's separate agent

Only as a neutral dual facilitator

As an undisclosed dual agent

Question 39: A purchaser signs a contract for a new condominium unit in East Providence and receives the public offering statement at signing rather than earlier. Before conveyance, the buyer has second thoughts. Under the Condominium Act, how long does the buyer have to cancel the contract?

Three days after signing

Ten days after receiving the statement

Five days after conveyance

Fifteen days after receiving the statement

Question 40: A buyer is purchasing a rural home near Westerly that draws its water from a private well rather than a municipal supply. She wants time to have the well water tested before committing. Under the disclosure chapter, what inspection period does the law guarantee her?

A ten-day period

A five-day period

A thirty-day period

A three-day period

RIRES Rhode Island Real Estate Salesperson - Set 1 - Part 2