NH Test Part 2 - Licensure - Practice Test A Graded A+

NH Test Part 2 - Licensure - Practice Test A Graded A+ 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: 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: 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: Explain simple contract documents to prospective buyers 4. 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: $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: 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: 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 days D. 6 months 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: 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: 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: 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: 3 years 12. 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: 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 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: $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 class D. 2 years from the start date of the class 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: 6 17. When it's time to renew a real estate license in New Hampshire the commission will: A. send all necessary forms 90 days prior to renewal B. contact the licensee by phone as a reminder C. mail or email a renewal notice 60 days prior to renewal D. Do nothing Answer: mail or email a renewal notice 60 days prior to renewal 18. A real estate license in New Hampshire has expired by not lapsed. During the six month period between expiration and lapsing, a licensee: A. can continue to practice real estate during this grace period with no effect B. can collect only referral fees C. may not practice real estate or collect any fees from referrals or transactions that were not begun prior to expiration D. must re-qualify for the license by passing the state portion only of the licensing examination with a score of 75 or greater Answer: may not practice real estate or collect any fees from referrals or transactions that were not begun prior to expiration 19. In order to maintain a real estate license as inactive, the licensee must: A. complete an approved core class every two years and renew the license according to the New Hampshire Real Estate Practice act B. complete the education requirements of 3 hours of core and 12 elective hours every two years C. there is no continuing education requirement for inactive licensees D. pay $100 fee and file the forms online Answer: complete an approved core class every two years and renew the license according to the New Hampshire Real Estate Practice act 20. A temporary license is issued: A. to a salesperson appointed by Probate Court B. to any qualified person named by legal counsel in case of death or disability of the principal broker C. to the spouse of the broker who is deceased D. any relative named in the will and participating in the estate Answer: to any qualified person named by legal counsel in case of death or disability of the principal broker 21. How many hours of continuing education elective courses accredited by the New Hampshire Real Estate Commission shall a licensee on active status complete every renewal period? A. 3 B. 9 C. 12 D. 15 Answer: 12 22. The form for an individual applying for a license shall include affidavits from: A. the employing broker B. the governor C. three individuals in the business of real estate in New Hampshire D. three character references not related by blood or marriage, notarized Answer: three character references not related by blood or marriage, notarized 23. Continuing education is: A. required for licensees twice a year B. required for licensees biennially C. an option to advance oneself to a broker license D. a career choice to advance oneself in the field of real estate Answer: required for licensees biennially 24. An employee for River View Apartments is acting as an on-site property manager. He is responsible for maintenance, tenant relations, rent collection and preparing leases for the 100 unit apartment complex. In this position, the on-site property manager is: A. is violating the license law B. is exempt from licensing requirements C. must have an active broker's license D. must have a salesperson license Answer: is exempt from licensing requirements 25. Under New Hampshire law, any person who deal in options on real estate must: A. be required to have his or her securities license endorsed by the New Hampshire Real Estate Commission B. be exempt from real estate licensing C. be a licensed real estate broker D. file for a special options license from the Board of Auctioneers Answer: be a licensed real estate broker 26. You are applying for a new original license in New Hampshire. Ten years ago you had a real estate license in Vermont and New Hampshire. Both licenses expired. Must you disclose this information on your license application? A. yes B. no, because the licenses expired more than seven years ago C. no, because you are applying for a new license D. yes, you would have to disclose the Vermont license, but not the New Hampshire license Answer: Yes 27. What is the purpose of the broker's $25,000 surety bond that is made payable to the State of New Hampshire? A. to reimburse the state in case of misrepresentation by the licensee B. to protect the broker in case the client does not pay the professional fee. This bond will reimburse the broker C. to protect the broker from losses in case of misrepresentation by the consumer D. to reimburse a consumer who is aggrieved by the broker's mischief that damaged the consumer Answer: to reimburse a consumer who is aggrieved by the broker's mischief that damaged the consumer 28. Which of the following is not true to a temporary license? A. it is issued without an examination B. it is issued upon application by the decedent's legal representative or one designated by the legal representative C. it is issued when a real estate broker, who is a sole proprietor, dies or become totally incapacitated D. it is good for one year from the death or incapacity of the broker and is renewable thereafter in 30 day increments until all of the transactions close Answer: it is good for one year from the death or incapacity of the broker and is renewable thereafter in 30 day increments until all of the transactions close 29. Under which of the following circumstances may a licensed salesperson hold a concurrent license with more than one New Hampshire broker? A. under no circumstances B. with the permission of his or her sales manager C. with the written consent of the brokers being represented D. with the permission of the New Hampshire Real Estate Commission Answer: under no circumstances 30. Which of the following is true concerning non-resident licensing in New Hampshire? A. the applicant must be licensed as a broker or salesperson in any state B. the licensee must be licensed under a New Hampshire broker C. a non-resident broker must take all of the education requirements in New Hampshire D. a non-resident licensed in New Hampshire must file an irrevocable consent and power agreement with the commission Answer: a non-resident licensed in New Hampshire must file an irrevocable consent and power agreement with the commission