Rhode Island License Law
The Rhode Island DoBR may discipline a licensee for which of the following acts?
AAdvertising a listed property with the seller's permission
BCommingling client funds with the broker's personal funds✓ Correct
CReferring a client to a licensed home inspector
DCharging a commission rate lower than the market average
Explanation
Commingling — mixing client funds with the broker's own funds — is a serious violation under Rhode Island license law and can result in license suspension or revocation by the DoBR.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Math Concepts
State-Specific Concepts
License Law
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