A real estate licensee may have his/her license revoked for - ✔✔ accepting compensation for brokerage services from someone other than the employing
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Who must comply with the state license laws? - ✔✔ 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? - ✔✔ An individual charging a finder's fee for referral of information leading to a listing
A license may be revoked upon proof of - ✔✔ 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 - ✔✔ employing broker
A salesperson may advertise a property for sale only - ✔✔ if the name of the employing broker is in the ad
A licensing board or commission has jurisdiction to do which of the following? - ✔✔ Establish that all real estate commissions are negotiable
A broker can have his/her license revoked for - ✔✔ 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? - ✔✔ Typing contracts submitted by the salespeople in the broker's office
Which of the following requires a real estate license? - ✔✔ 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? - ✔✔ 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 - ✔✔ 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? - ✔✔ Quoting to prospective buyer's a sale price that is lower than the listed price
A licensee could have his/her license revoked for - ✔✔ 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? - ✔✔ U.S. citizenship
A broker's license can be revoked if he/she: - ✔✔ 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? - ✔✔ 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? - ✔✔ 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 - ✔✔ a small amount of the broker's money to keep the client's accounting system open
Which of the following is/are true? - ✔✔ 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? - ✔✔ 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? - ✔✔ 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 - ✔✔ 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: - ✔✔ 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 - ✔✔ protect the general public.
The Rhode Island Real Estate Recovery Fund may be used to settle which of the following - ✔✔ A monetary loss by a person who sold property to a broker who had an undisclosed interest in the property
In Rhode Island, the real estate license law is administered by the - ✔✔ Director of the R.I. Department of Business Regulations.
How are the members of the R.I. Real Estate Commission selected? - ✔✔ By the Governor of R.I.
The Director of the R.I. Department of Business Regulations has the authority to - ✔✔ make and enforce rules by which R.I. real estate licensees must abide
The Director of the R.I. Department of Business Regulations may undertake an investigation of alicensee based on all of the following grounds EXCEPT - ✔✔ a random selection of licensee's
In Rhode Island, a real estate license is required for a - ✔✔ person who employs fewer than 3 apartment leasing agents
A real estate license is required for which of the following - ✔✔ a company that matches individuals from different parts of the country who want to exchange properties and for a fee assists them in the exchange
According to Rhode Island law, any person other than the owner who sells an individual co-operative unit must - ✔✔ be licensed as a commodities broker
According to R.I. License Law, a partnership, association or corporation will be granted a license only if - ✔✔ the broker retains a current license
"Engaging in the real estate business" consists of acting for another for a fee in all of the following EXCEPT - ✔✔ re-selling mobile homes
The office manager for a local real estate firm is responsible for the following activities: preparing forms and advertising copy, and hiring and supervising clerical personnel. The office manager is - ✔✔ exempt from the real estate licensing requirements
In Rhode Island applications for any real estate license must - ✔✔ be completed and submitted to the Rhode Island Department of Business Regulations after taking the written real estate licensing examination
All Rhode Island real estate licensee's wishing to keep their real estate license active are required to renew their existing licenses prior to? - ✔✔ May 1 of every even year [Show Less]