Addition of bromine to cyclopentene gives a product that could be racemic trans...is it correct?
this depends on the reaction condition. certain catalyst produced only one optical isomer. normally, it would be expected to produce a racemic mixture, as bromine can be added above and below the cyclopentene plane at equal probability.
Stereochemistry does not necessarily correlate with optical rotation rite?
there are many types of stereo isomerism. optical isomerism, E-Z isomerism to name a few.