RIRES - Rhode Island Real Estate Salesperson

Question 21: A buyer cannot purchase a Warwick colonial until she first sells her current triple-decker, so her contract permits cancellation if that sale does not close. The seller adds a clause letting him keep marketing meanwhile. What is the seller's added clause called?

A sale-of-home contingency

A liquidated damages clause

An escape clause

An option clause

Question 22: A buyer agrees to pay a set price for a Newport home, but her lender's appraisal comes in well below that figure. A clause in her contract lets her renegotiate or cancel because of this shortfall. Which contingency addresses this situation?

A financing contingency

An inspection contingency

A sale-of-home contingency

An appraisal contingency

Question 23: A buyer under contract for a Cranston colonial hires a home inspector, who reports serious structural defects. The contract lets the buyer cancel and reclaim her deposit based on these findings. Which contingency gives the buyer this particular right to withdraw?

A financing contingency

An inspection contingency

An appraisal contingency

An escape clause

Question 24: While a listing is active, the seller-principal files for bankruptcy, and title to the property passes to a court-appointed receiver. Without either party choosing to cancel, the agency ends automatically. Which cause of termination BEST accounts for this automatic ending?

Mutual agreement

Renunciation by the agent

Operation of law

Revocation by the principal

Question 25: Both a buyer and seller sign a purchase agreement genuinely believing the parcel includes a waterfront strip that, unknown to either, actually belongs to a neighbor. When both parties share an erroneous belief about a basic fact, the contract is affected by what?

Mutual mistake

Undue influence

Fraud

Duress

Question 26: Between signing the sales contract and closing on a Middletown condo, a storm damages the unit. In many states the buyer already bears the risk of loss during this period because of the interest she holds. Which interest explains that exposure?

Legal title

Bare possessory right

A future interest only

Equitable title

Question 27: A caregiver who holds a position of deep trust over a frail homeowner steadily pressures him, exploiting that confidential relationship until he agrees to sell far below value. This improper use of a trusted position to overcome judgment is called what?

Undue influence

Duress

Fraud

Innocent misrepresentation

Question 28: A person acts on an owner's behalf without prior authority, negotiating terms the owner had never approved. Afterward the owner learns of the unauthorized acts, approves them, and accepts their benefits. By which method has the owner created an agency after the fact?

Estoppel

Ratification

Express agreement

Operation of law

Question 29: An elderly owner signs a listing agreement only after a broker threatens serious harm unless she signs immediately, leaving her no free will in the moment. This wrongful coercion that overcomes voluntary assent is best identified by which of the following terms?

Undue influence

Fraud

Mutual mistake

Duress

Question 30: A Newport seller deliberately conceals a known structural defect and misrepresents the home's condition to induce a buyer to sign. Once the deception is discovered, the buyer wants out. Fraud in the inducement gives this deceived buyer which of the following?

A void contract

An unenforceable contract

A voidable contract

An executed contract

Question 31: A body of law provides that certain agreements, including contracts for the sale of real estate and most leases exceeding one year, must be in writing and signed to be enforceable in court. This requirement comes from which of the following?

The statute of frauds

The statute of limitations

The parol evidence rule

The doctrine of laches

Question 32: A listing agreement is still within its term when the listed house is completely destroyed by fire before any buyer is found. Among the recognized ways in which a seller representation agreement can end, which one applies to this particular situation?

Expiration of the term

Destruction of the property

Mutual rescission by the parties

Fulfillment of the purpose

Question 33: A new sales associate at a Providence brokerage office assumes there is a fixed commission rate everyone in the area must charge. The managing broker corrects this belief, citing antitrust concerns. What is the true rule about a broker's commission rate?

It is set by statute

It is fixed by the MLS

It follows a local board schedule

It is always negotiable

Question 34: A designated broker is legally responsible for the actions of every affiliated salesperson working under the brokerage. To meet this professional duty and reduce the firm's exposure to liability, what must the broker actively provide over those licensees' transactions and daily conduct?

A commission split

Errors and omissions coverage

Reasonable supervision

An independent contractor agreement

Question 35: A management agreement specifies how often and in what detail the manager must give the owner statements on operations and financial position so the owner can monitor performance and spot trends. Which ongoing responsibility of the property manager does this describe?

Corrective maintenance of the property

Screening and leasing to tenants

Purchasing liability insurance coverage

Reporting and accounting to the owner

Question 36: A licensee drafts a rental ad for a Newport apartment that reads perfectly clean except for one phrase the broker flags. Which of the following expressions in a housing advertisement would violate federal fair housing law by signaling a protected-class preference?

Walk to shopping and parks

Ideal for a Christian family

Spacious two-bedroom with parking

Newly renovated eat-in kitchen

Question 37: An investor who owns several triple-deckers signs a contract hiring a firm to operate the buildings, collect rents, and make routine decisions on the owner's behalf over an extended period. What kind of agency relationship does this management contract typically create?

A general agency

A special agency

A universal agency

No agency relationship

Question 38: An agent phones homeowners on a Woonsocket block, warning that minority families are moving in and property values will soon plummet, urging them to sell now before prices drop. This profit-driven scare tactic to induce listings is known as what?

Steering

Redlining

Blockbusting

Puffing

Question 39: A prospective purchaser signs a contract hiring a brokerage to locate and help acquire a suitable home, establishing the firm as the buyer's representative throughout the property search. What kind of agreement has the buyer entered into with the brokerage?

An exclusive right-to-sell listing

A buyer representation agreement

A net listing

A property management agreement

Question 40: A broker consistently shows Hispanic clients homes only in one Providence neighborhood while directing white clients toward suburban listings, quietly limiting where each group looks. This practice of channeling buyers toward or away from areas by protected class is called what?

Blockbusting

Redlining

Steering

Panic selling

RIRES Rhode Island Real Estate Salesperson - Set 4 - Part 2

Question 21: A buyer cannot purchase a Warwick colonial until she first sells her current triple-decker, so her contract permits cancellation if that sale does not close. The seller adds a clause letting him keep marketing meanwhile. What is the seller's added clause called?

Question 22: A buyer agrees to pay a set price for a Newport home, but her lender's appraisal comes in well below that figure. A clause in her contract lets her renegotiate or cancel because of this shortfall. Which contingency addresses this situation?

Question 23: A buyer under contract for a Cranston colonial hires a home inspector, who reports serious structural defects. The contract lets the buyer cancel and reclaim her deposit based on these findings. Which contingency gives the buyer this particular right to withdraw?

Question 24: While a listing is active, the seller-principal files for bankruptcy, and title to the property passes to a court-appointed receiver. Without either party choosing to cancel, the agency ends automatically. Which cause of termination BEST accounts for this automatic ending?

Question 25: Both a buyer and seller sign a purchase agreement genuinely believing the parcel includes a waterfront strip that, unknown to either, actually belongs to a neighbor. When both parties share an erroneous belief about a basic fact, the contract is affected by what?

Question 26: Between signing the sales contract and closing on a Middletown condo, a storm damages the unit. In many states the buyer already bears the risk of loss during this period because of the interest she holds. Which interest explains that exposure?

Question 27: A caregiver who holds a position of deep trust over a frail homeowner steadily pressures him, exploiting that confidential relationship until he agrees to sell far below value. This improper use of a trusted position to overcome judgment is called what?

Question 28: A person acts on an owner's behalf without prior authority, negotiating terms the owner had never approved. Afterward the owner learns of the unauthorized acts, approves them, and accepts their benefits. By which method has the owner created an agency after the fact?

Question 29: An elderly owner signs a listing agreement only after a broker threatens serious harm unless she signs immediately, leaving her no free will in the moment. This wrongful coercion that overcomes voluntary assent is best identified by which of the following terms?

Question 30: A Newport seller deliberately conceals a known structural defect and misrepresents the home's condition to induce a buyer to sign. Once the deception is discovered, the buyer wants out. Fraud in the inducement gives this deceived buyer which of the following?

Question 31: A body of law provides that certain agreements, including contracts for the sale of real estate and most leases exceeding one year, must be in writing and signed to be enforceable in court. This requirement comes from which of the following?

Question 32: A listing agreement is still within its term when the listed house is completely destroyed by fire before any buyer is found. Among the recognized ways in which a seller representation agreement can end, which one applies to this particular situation?

Question 33: A new sales associate at a Providence brokerage office assumes there is a fixed commission rate everyone in the area must charge. The managing broker corrects this belief, citing antitrust concerns. What is the true rule about a broker's commission rate?

Question 34: A designated broker is legally responsible for the actions of every affiliated salesperson working under the brokerage. To meet this professional duty and reduce the firm's exposure to liability, what must the broker actively provide over those licensees' transactions and daily conduct?

Question 35: A management agreement specifies how often and in what detail the manager must give the owner statements on operations and financial position so the owner can monitor performance and spot trends. Which ongoing responsibility of the property manager does this describe?

Question 36: A licensee drafts a rental ad for a Newport apartment that reads perfectly clean except for one phrase the broker flags. Which of the following expressions in a housing advertisement would violate federal fair housing law by signaling a protected-class preference?

Question 37: An investor who owns several triple-deckers signs a contract hiring a firm to operate the buildings, collect rents, and make routine decisions on the owner's behalf over an extended period. What kind of agency relationship does this management contract typically create?

Question 38: An agent phones homeowners on a Woonsocket block, warning that minority families are moving in and property values will soon plummet, urging them to sell now before prices drop. This profit-driven scare tactic to induce listings is known as what?

Question 39: A prospective purchaser signs a contract hiring a brokerage to locate and help acquire a suitable home, establishing the firm as the buyer's representative throughout the property search. What kind of agreement has the buyer entered into with the brokerage?

Question 40: A broker consistently shows Hispanic clients homes only in one Providence neighborhood while directing white clients toward suburban listings, quietly limiting where each group looks. This practice of channeling buyers toward or away from areas by protected class is called what?

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