US Real Estate Rhode Island Advanced Test 1

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Rhode Island Professional (Real Estate, USA) USA — Rhode Island State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Rhode Island.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Rhode Island · Education: Professional (Adult) · Part: Real Estate — Rhode Island · Country: USA · Region: USA — Rhode Island

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is agency in real estate?

A) ownership

B) broker acting for a client

C) tenancy

D) zoning

Question 2

What is a listing agreement?

A) contract to sell a property

B) lease

C) deed

D) purchase offer

Question 3

What is earnest money?

A) commission

B) fee

C) tax

D) buyer good-faith deposit

Question 4

What is a fiduciary duty?

A) loyalty, obedience, care to client

B) secrecy from client

C) profit first

D) dual profit

Question 5

What is dual agency?

A) one broker representing both sides

B) no representation

C) two brokers

D) buyer only

Question 6

What is the Fair Housing Act?

A) tax law

B) bans housing discrimination

C) zoning code

D) building code

Question 7

What classes are protected in housing?

A) race, color, religion, sex, handicap, family, national origin

B) politics

C) age only

D) income

Question 8

What is redlining?

A) mapping

B) illegal denial by neighborhood

C) surveying

D) appraising

Question 9

What is steering?

A) advertising

B) negotiating

C) guiding buyers by race (illegal)

D) showing homes

Question 10

What is a CMA?

A) comparative market analysis

B) inspection

C) appraisal

D) survey

Question 11

What is an appraisal?

A) listing

B) offer

C) professional value opinion

D) inspection

Question 12

What are the three appraisal approaches?

A) offer, accept, record

B) show, stage, sell

C) sales comparison, cost, income

D) list, sell, close

Question 13

What is PITI?

A) a deed

B) a loan type

C) a tax

D) principal, interest, taxes, insurance

Question 14

What is LTV?

A) lease term value

B) loan-to-value ratio

C) listing traffic volume

D) land title verification

Question 15

What is PMI?

A) flood insurance

B) title insurance

C) property tax

D) insurance for low down payments

Question 16

What is escrow?

A) neutral third-party holding

B) commission

C) tax

D) down payment

Question 17

What is a deed?

A) ownership transfer document

B) lease

C) offer

D) loan paper

Question 18

What is a warranty deed?

A) quitclaim

B) lease

C) option

D) guarantees clear title

Question 19

What is a quitclaim deed?

A) transfers whatever interest exists

B) loan

C) full warranty

D) lease

Question 20

What is title insurance?

A) flood policy

B) life insurance

C) home warranty

D) protects against title defects

US Real Estate Rhode Island Advanced Test 1

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