For the Rhode Island state portion, how should a candidate analyze a client representative handles a property transaction?
Correct Answer
A) The licensee must make diligent effort to ascertain pertinent information and facts such as lot size, zoning, water or sewer connection, and certificate of occupancy for new dwellings
230-RICR-30-20-2 § 2.22 requires a client representative to diligently ascertain all pertinent information and facts, including the listed property facts. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 §§ 2.14, 2.22, and R.I. Gen. Laws §§ 5-20.5-14 and 5-20.6; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
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In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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