NH Test Part 2 - Licensure - Practice Test A (Questions & Answers) Passed!!

1. The administrative assistant for a local real estate firm is responsible for the following activities: coordinating the flow of paperwork through the office; preparing forms and advertising copy under the supervision of the broker; hiring and supervising of clerical personnel. Does this administrative assistant need to be a licensee? A. no, they would not be required to have a license to perform these activities B. yes, without a license they are guilty of unlawful practice, which carries a $10,000 fine or amount of compensation, whichever is greater C. yes, these activities require a broker's license D. yes, these activities require a salesperson's license - Answer-Answer: no, they would not be required to have a license to perform these activities 2. Real estate brokerage means: A. Calling bids at a real estate auction B. Purchasing real estate for investment purposes C. Acting on behalf of another for compensation D. Selling your personal property as "For Sale by Owner" - Answer-Answer: Acting on behalf of another for compensation 3. In New Hampshire, an unlicensed real estate assistant may perform all of the following activities except? A. Compute commission checks B. Assemble legal documents required for a closing C. Prepare and distribute flyers and promotional materials D. Explain simple contract documents to prospective buyers - Answer-Answer: Explain simple contract documents to prospective buyers4. What must a principal or managing broker post? A. $100 guaranteed bond against fraudulent acts B. $25,000 surety bond made payable to the State of New Hampshire C. $50,000 surety bond made payable to the State of New Hampshire D. $100,000 surety bond for the franchise - Answer-Answer: $25,000 surety bond made payable to the State of New Hampshire 5. Which of these must have a real estate license to transfer real estate? A. Attorney at law B. Condo unit owner association renting units for 1 year or more C. Auctioneer D. Manufactured housing unit park owner - Answer-Answer: Condo unit owner association renting units for 1 year or more 6. Any person acting as a licensed real estate agent in New Hampshire without a license may be found guilty of: A. Class C felony B. Violation of the professional Code of Ethic C. Class A misdemeanor D. Fraud - Answer-Answer: Class A misdemeanor 7. How long after passing the test does a candidate have to apply for the license? A. 1 year from start date of the class B. 1 year C. 90 daysD. 6 months - Answer-Answer: 6 months 8. How many years before an unaffiliated license will lapse? A. 1 year B. 2 years C. 3 years D. never - Answer-Answer: 2 years 9. How old must a person be in New Hampshire in order to receive a real estate license? A. 55 B. 25 C. 21 D. 18 - Answer-Answer: 18 10. An applicant for a New Hampshire real estate license must submit character references from? A. 2 active broker or salesperson licensees B. 3 individuals not related by blood or marriage C. The sponsoring broker of the firm they will be joining D. A notary public - Answer-Answer: 3 individuals not related by blood or marriage 11. How long must a broker keep Brokerage Relationship Disclosures? A. 7 years B. 5 years C. 3 years D. 1 year - Answer-Answer: 3 years12. How often do you have to renew your license? A. Every year on the anniversary date of licensing B. You don't have to renew once you are licensed, it's automatic if the licensee maintains good conduct C. Every 4 years on your birthday, along with your driver's license D. Every two years from date of issue - Answer-Answer: Every two years from date of issue 13. Which of the following is obligated to obtain a broker's bond? A. All real estate licensees must post a $25,000 surety bond with the state B. Only resident principal brokers C. Associate, managing and principal brokers D. Resident and non-resident principal and managing brokers - Answer-Resident and non-resident principal and managing brokers 14. Any applicant who issues a dishonored check to the New Hampshire Real Estate Commission must pay a fee equal to: A. $25 or 5% of the face amount of the check, whichever is greater B. $5 or 10% of the face amount of the check, whichever is greater C. $20 or 5% of the face amount of the check, whichever is greater D. $10 or 10% of face amount of the check, whichever is less - Answer-Answer: $25 or 5% of the face amount of the check, whichever is greater 15. How long is the pre-licensing class credit affidavit good for? A. 1 year from the end of class B. 1 year from the start date of the class C. 6 months from the end date of the classD. 2 years from the start date of the class - Answer-Answer: 1 year from the start date of the class 16. How many transactions minimum must you have participated in to obtain your broker's license in New Hampshire? A. 2 B. 10 C. 6 D. or More - Answer-Answer: 6