Rhode Island Salesperson Pre-licensing How to Get Your RI Real Estate License
What is required to get a license in Rhode Island?
For Salesperson:
Proof of age 18 and above.
Complete and pass the real estate examination before applying.
Proof of completion of 45 hour Pre-License Education, three (3)-hour course in Lead Poisoning/Lead Hazard Mitigation and a Certificate of the three (3)-hour New Agency Law Course, if it is not included in the 45 hour curriculum.
You must have a high school diploma or equivalent.
A Criminal History Record ("CHR") must be submitted to the Real Estate Section, Department of Business Regulation.
You must submit a Tax Payer Status Affidavit / Identity Verification.
Completed and signed application form.
You must submit a Certificate of Errors and Omissions Insurance.
Fees: Examination Fees (Salesperson: $70). License (Salesperson: $75.00, payable to the "Rhode Island General Treasurer"- For licenses issued on or after May 1, of odd-numbered years AND, $25.00 payable to the "Real Estate Recovery Account." OR; $140.00, payable to the "Rhode Island General Treasurer" - For licenses issued on or after May 1, of even-numbered years AND, $25.00 payable to the "Real Estate Recovery Account.")
Fees: Examination Fees (Broker: $70). License (Broker: $95.00, payable to the "Rhode Island General Treasurer"- For licenses issued on or after
May 1, of odd-numbered years AND, $25.00 payable to the "Real Estate Recovery Account." OR; $180.00, payable to the "Rhode Island General Treasurer" - For licenses issued on or after May 1, of even-numbered years AND, $25.00 payable to the "Real Estate Recovery Account.").
The salesperson exam has two portions, general practice and State Law 80 general practice questions and 40 State Law questions. To determine a score a statistical procedure known as equating is used to correct for differences in form difficulty. The passing score of an examination was set after a comprehensive study. The examination score is reported as a scaled score on a scale of 0-100, but it should not be interpreted as the percentage or number of questions answered correctly. With a passing score of 70, any score below 70 indicates how close the candidate came to passing, and not the actual number or percentage of questions answered correctly.
The broker exam consists of 80 general practice questions and 50 State Law questions. Equating is also used to score this examination and the passing score for brokers is 70.
For the salesperson and broker exam you are allowed a total of 4 hours.
2 Forms of identification with matching names, non-expired and containing a valid signature. (Driver's license, passport, green card, U.S. social security card, debit or credit card with signature). One of them must be government issued.
Basic (non-scientific) calculator.
The exam is given on a computer.
The general portion consists of the following sections:
Real property characteristics, definitions, ownership, restrictions, and transfer
Forms of ownership, transfer, and recording of title
Property value and appraisal
Real estate contracts and agency
Real estate practice
Property disclosures and environmental issues
Financing and settlement
Real estate math calculations
The State portion includes:
Duties and obligations under licensing law
Broker only topics
Rhode Island Department of Business Regulation Handbook by Pearson VUE
Rhode Island Department of Business Regulation