§ 5-20.5-4 - Examination of applicants – Examination fee – Licensing without examination.
SECTION 5-20.5-4
§ 5-20.5-4 Examination of applicants– Examination fee – Licensing without examination. – (a) The director shall require any applicant for a real estate broker's orsalesperson's license to submit to and pass a written examination to show theapplicant's knowledge of the state statutes and the rules and regulationsrelating to real property, deeds, mortgages, leases, contracts, and agency. Anapplicant shall not be required to take the uniform portion of the Rhode Islandreal estate licensing examination if the applicant provides sufficient evidencethat the applicant possesses an existing valid real estate license from a statethat has similar statutes or regulations in effect which provide for reciprocalwaiver of the uniform portion of the real estate licensing examination forpersons holding an existing valid Rhode Island real estate broker's orsalesperson's license and the applicant has been licensed for a period of notless than two (2) consecutive years immediately prior to the date of his or herapplication; and further provided, that the applicant must be tested for theremainder of the Rhode Island real estate licensing examination as administeredby the department of business regulation. An applicant for a real estatebroker's or salesperson's license, prior to the taking of the examination, mustpay an examination fee, the cost of which is limited to the charge asdesignated by the appropriate testing service's contract with the department ofbusiness regulation.
(b) An applicant for a real estate salesperson's license mustsubmit satisfactory evidence of completion of a minimum of forty-five (45)classroom hours in a real estate course given by a school as defined in §5-20.5-19. The applicant for a broker's license must also submit satisfactoryproof that he or she has been engaged full time as a real estate salespersonfor at least one year immediately prior to the date of application, except thatthe period is waived if the applicant has received a baccalaureate degree witha major in real estate, from an accredited college or university; or hassuccessfully completed at least ninety (90) hours of approved classroom studyin a school as defined in § 5-20.5-19, or equivalent in a correspondencecourse offered by an extension department of an accredited college oruniversity. The director, in his or her sole discretion, may require anyadditional evidence or proof, as to the honesty, trustworthiness, integrity,good reputation, and competency of any applicant.
(c) The director shall notify applicants of the result of theexamination within thirty (30) days of the date of the examination. Anysuccessful applicant who fails to remit the original license fee as provided in§ 5-20.5-11 within one year of the date of that examination may berequired by the director to re-submit to and pass a written examination asprovided in subsection (a) of this section.
(d) When an attorney-at-law licensed by the supreme court ofthe state desires to have a real estate broker's license or a real estatesalesperson's license, the attorney, by application, and upon payment of theapplicable fee as provided in § 5-20.5-11, shall be granted a licensewithout examination.
(e) A certificate of licensure shall be issued by the realestate division of the department of business regulation within thirty (30)days after it is requested at a cost of not more than twenty-five dollars($25.00) for each certificate issued.