US Real Estate Rhode Island Test 7

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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 a warranty deed?

A) guarantees clear title

B) lease

C) option

D) quitclaim

Question 2

Which agency licenses agents in Rhode Island?

A) IRS

B) State Bar

C) Medical Board

D) Rhode Island Real Estate Commission

Question 3

What is a listing agreement?

A) purchase offer

B) deed

C) lease

D) contract to sell a property

Question 4

What is earnest money?

A) tax

B) commission

C) buyer good-faith deposit

D) fee

Question 5

What is a fiduciary duty?

A) loyalty, obedience, care to client

B) dual profit

C) secrecy from client

D) profit first

Question 6

What is dual agency?

A) one broker representing both sides

B) no representation

C) two brokers

D) buyer only

Question 7

What is a quitclaim deed?

A) full warranty

B) lease

C) loan

D) transfers whatever interest exists

Question 8

What is the Fair Housing Act?

A) bans housing discrimination

B) zoning code

C) building code

D) tax law

Question 9

What classes are protected in housing?

A) politics

B) income

C) age only

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

Question 10

What is redlining?

A) illegal denial by neighborhood

B) surveying

C) appraising

D) mapping

Question 11

What is steering?

A) guiding buyers by race (illegal)

B) negotiating

C) showing homes

D) advertising

Question 12

What is a CMA?

A) inspection

B) appraisal

C) comparative market analysis

D) survey

Question 13

What is an appraisal?

A) professional value opinion

B) inspection

C) offer

D) listing

Question 14

What is title insurance?

A) flood policy

B) life insurance

C) home warranty

D) protects against title defects

Question 15

What are the three appraisal approaches?

A) sales comparison, cost, income

B) list, sell, close

C) show, stage, sell

D) offer, accept, record

Question 16

What is PITI?

A) a tax

B) principal, interest, taxes, insurance

C) a deed

D) a loan type

Question 17

What is LTV?

A) loan-to-value ratio

B) listing traffic volume

C) lease term value

D) land title verification

Question 18

What is PMI?

A) flood insurance

B) insurance for low down payments

C) title insurance

D) property tax

Question 19

What is escrow?

A) down payment

B) tax

C) commission

D) neutral third-party holding

Question 20

What is a deed?

A) ownership transfer document

B) lease

C) loan paper

D) offer

US Real Estate Rhode Island Test 7

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