Rhode Island License Law
Under Rhode Island law, a real estate brokerage firm's 'principal broker' (also called broker of record) is responsible for:
AOnly commercial real estate transactions
BSupervising all licensed activities of the firm and ensuring compliance with state license law✓ Correct
CFiling taxes on behalf of all affiliated licensees
DSetting commission rates for all transactions
Explanation
The principal broker (broker of record) of a Rhode Island real estate firm is responsible for the supervision of all licensed activities conducted under the firm's license and for ensuring compliance with RIGL Chapter 5-20.5 and all applicable regulations.
Related Rhode Island Rhode Island License Law Questions
- Under RIGL Chapter 5-20.5, a Rhode Island licensee who changes employing brokers must notify the Real Estate Commission within:
- Which of the following requires a real estate broker's license in Rhode Island rather than a salesperson's license?
- Rhode Island law requires that a real estate broker's trust account be reconciled:
- Under RIGL Chapter 5-20.5, a Rhode Island licensee who receives a referral fee from a home inspector for sending clients their way must:
- A Rhode Island salesperson who moves their license to a new broker must notify the DoBR within:
- Rhode Island's Residential Real Estate Condition Disclosure Statement is required for:
- A Rhode Island broker's office must display which of the following?
- What is the minimum age requirement to obtain a Rhode Island real estate salesperson license?
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 →