Rhode Island License Law
Under Rhode Island law, a licensee must disclose to a prospective buyer that they have a personal financial interest in a property they are offering for sale. This is required by:
ANAR Code of Ethics only
BThe licensee's fiduciary duty of disclosure under RIGL Chapter 5-20.5✓ Correct
CFederal RESPA regulations
DThe DBR's optional disclosure guidelines
Explanation
Rhode Island license law and the fiduciary duty of disclosure require a licensee to disclose any personal financial interest in a transaction. This includes when a licensee is selling a property they own or have an interest in.
Related Rhode Island Rhode Island License Law Questions
- A Rhode Island real estate licensee advertises properties using social media. Under DBR regulations, all advertising must:
- Under Rhode Island law, a licensee who receives a buyer's earnest money check must give it to the employing broker, who must:
- A Rhode Island broker advertises a property without the seller's permission to use certain details. This may be a violation of:
- A Rhode Island real estate broker discovers an error in a previously filed disclosure form for a transaction. The broker should:
- What is 'steering' in the context of Rhode Island real estate license law?
- What does 'inactive license' mean in Rhode Island real estate?
- Under RIGL Chapter 5-20.5, which action would NOT constitute grounds for disciplinary action against a Rhode Island licensee?
- What is the 'cooling off period' concept and does it apply to Rhode Island real estate purchase agreements?
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →