NH Real Estate Exam Questions With 100% Solved Solutions!!

Purpose of NH Real Estate Commission - Answer-License and regulate real estate agents. Entry Only Listings - Answer-Considered listings and must comply with listing requirements Appointing Agents - Answer-Appoint real estate licensees to represent clients in real estate offices that practice designated agency A fiduciary client relationship - Answer-Requires a contractual brokerage agreement Commission members include: - Answer-2 Brokers 1 Salesperson 1 Lawyer 1 Public Member All advertising by real estate agents must include the following: - Answer--phone number of the real estate firm or principal broker & agent's direct number -The name of the real estate firm or principal broker. -A link to the required information with respect to limited electronic media. The performance of ministerial acts: - Answer-Involves performance of acts that are ADMINISTRATIVE in nature Dual agency: - Answer-Requires written informed consent. Disclose right away Have to have TWO contacts to be a duel agent The definition of NH real estate brokerage activity includes: - Answer-The resale of timeshare unitsSub-Agency Relationship NH Example - Answer-A Cooperating Brokerage Agreement with an out-of-state broker: In NH do property management rental agents need a real estate license? - Answer-YES @adelle When should the Brokerage Relationship Disclosure Form should be provided to consumers: - Answer-At the first business meeting "Offers" Should be presented - Answer-"in a timely manner When should a principal brokers tell the commission if a salesperson or associate broker is no longer associated with the principal broker? - Answer-5 Days All licensees must notify the NH Real Estate Commission of the following with? - Answer--Change of resident address -Change of legal name -Change of mailing address. (NOT no longer a member of the Realtor® Association) In addition to a 3-hour CORE course, all active license renewals require? - Answer-12 hour of accredited elective courses T or F: You can renew an expired license up to 6 months after its expiration date with an additional late fee; but after six months the license will lapse and cannot be renewed. - Answer-True -You cannot practice real estate with an expired or lapsed license. Unless "good cause" can be demonstrated, the person would have to re-take pre-licensing education and the examination. T or F: If the Designated Agent leaves the real estate agency, substitution of another Designated Agent cannot be made without the informed written consent of the party being represented. - Answer-True T or F: A listing agent representing the seller is a facilitator to an unrepresented buyer. - Answer-FalseA facilitator is not representing anyone!!! T or F: Fee for Service or Entry Only Listings are "advanced fees" rather than actual brokerage listing contracts. - Answer-False Have to be a broker to list entry only listings Seller's agent - Answer-A listing agent representing the seller in a transaction with an unrepresented buyer T or F: Does lead paint abatement orders carry over to new owners when the property is transferred - Answer-True Landlords must return a tenant's security deposit within how many days? - Answer-30 (MONTH) The sale of waterfront property requires a septic site assessment study prior to? - Answer-The closing Examples of anti-trust activities include the following: - Answer--Price-fixing -Group boycotts. -Market allocation Unlicensed assistants cannot do this: - Answer-Solicit listings for their broker Assistants CAN: -Obtain information from the Registry of Deeds -Attend open houses -Perform clerical duties