Rhode Island License Law
The Rhode Island Real Estate Commission has the authority to do all of the following EXCEPT:
ASuspend or revoke a real estate license
BImpose civil fines for license law violations
CSet mortgage interest rates for real estate transactions✓ Correct
DRequire additional education as a condition of license reinstatement
Explanation
Setting mortgage interest rates is the function of market forces and federal regulators, not the Rhode Island Real Estate Commission. The Commission's authority includes disciplinary actions such as suspension, revocation, fines, and education requirements.
Related Rhode Island Rhode Island License Law Questions
- Under RIGL Chapter 5-20.5, which state agency is responsible for licensing and regulating real estate brokers and salespersons in Rhode Island?
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