NH Real Estate Brokers Exam Flashcards

NH Real Estate Brokers Exam Flashcards Real estate brokerage means:By the definition of brokerage it is acting on behalf of another for compensation.How many terms can a New Hampshire Real Estate Commissioner serve?Two consecutive terms of five years How long is the pre-licensing class credit affidavit good for?The candidate has 1 year from the start date of the class to complete the class and take the test. The candidate may take the test up to 8 times within six months (starts with the taking of the first test).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:

The on-site employee acting as a property manager is exempt from licensing requirements.When a principal broker has his or her license suspended for two years, what effect does this have on the associate brokers and salespersons affiliated with the principal broker?The affiliated licenses must be return to the New Hampshire Real Estate Commission and will become inactive.How many years before an unaffiliated license will lapse?All licenses will expire two years after date of issue.How long must a broker keep Brokerage Relationship Disclosures?Brokerage Relationship Disclosures must be maintained for a period of 3 years whether or not the transaction is

consummated. Rea 701.01, RSA 331-A:26 XIX

The New Hampshire Real Estate Commission The New Hampshire Real Estate Commission requires the principal broker, upon licensure, to sign a permit allowing the commission to audit the escrow accounts.The form for an individual applying for a license shall

include affidavits from:

The form for an individual applying for a license shall include affidavits from three character references not related by blood or marriage, notarized.How are members of the New Hampshire Real Estate Commission selected?The governor selects potential commissioners and their appointment is approved by the Executive Council.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?An active licensee would need to complete 3 hours of core and 12 hours of elective credits.How long must a commissioner be a resident of the state of New Hampshire?A commissioner be a resident of the state of New Hampshire for 6 years.A salesperson engaged in activities that constitute violations of the New Hampshire Human Rights Act, including blockbusting and discrimination on the basis of disability. The salesperson also cashed a $25,000 earnest money check from a prospective buyer and used the proceeds to buy a new car. The salesperson's employing

broker was unaware of all of these activities. What is the impact on the salesperson's broker when the salesperson's violations are brought to the attention of the New Hampshire Real Estate Commission?Based on reasonable supervision, the salesperson's employing broker may be held liable by the New Hampshire Real Estate Commission for the actions of the salesperson.Who is obligated to obtain a broker's bond? All principal and managing brokers must post a surety bond of $25,000, made payable to the state of New Hampshire.

Regarding listing agreements in New Hampshire, what instance could result in the suspension or revocation of a licensee's license to practice real estate?Having no specific termination date in the listing agreement is prohibited conduct.How many transactions minimum must you have participated in to obtain your broker's license in New Hampshire?To qualify for the NH broker's test the NH salesperson must complete a minimum of 6 transactions, complete 60 hours of continuing education and have worked full time for one year or part time 2,000 hours in the past five years.A licensee concealed pertinent information about the condition of a property for which he was the agent of the seller. Which of the following penalties might be imposed by the New Hampshire Real Estate Commission?The commission can impose suspension/revocation/deny renewal of a license; order fines of $2,000 per violation; order continuing education.Under which of the following circumstances may a licensed salesperson hold a concurrent license with more than one New Hampshire broker?A salesperson licensee can only affiliate with one broker.An applicant for a New Hampshire real estate license must submit character references from?Three individuals not related by blood or marriage, known to the applicant and notarized.A temporary license is issued:A temporary license is issued to any qualified person named by legal counsel in case of death or disability of the principal broker.What is not true to a temporary license? A temporary license is issued without examination; it is issued upon application by the decedent's legal representative or one designated by the legal representative; it is issued when a real estate broker, who is a sole proprietor, dies or become totally incapacitated; and is good for one year.What is the purpose of the broker's $25,000 surety bond that is made payable to the State of New Hampshire?The purpose of the broker's $25,000 surety bond is to reimburse a consumer who is aggrieved by the broker's mischief that damaged the consumer.The action of the New Hampshire Real Estate Commission stated in an order may be appealed where?The action of the New Hampshire Real Estate Commission stated in an order may be appealed at the Superior Court within 30 days after it issuance.In New Hampshire, a broker may have his or her license suspended or revoked for all of the following actions

except:

A licensee would not have his license suspended for correctly depositing earnest money into the firm's interest bearing escrow account.What must a principal or managing broker post? $25,000 surety bond made payable to the State of New Hampshire In New Hampshire, the following is legal and not grounds

for revoking a broker's license:

Agreeing with a seller to accept a listing for more than the broker's usual commission rate would not be grounds for revoking a broker's license.How much do commissioners get paid per day? $50 a day The New Hampshire Real Estate Commission consists of:The New Hampshire Real Estate Commission consists of 2 brokers, 1 salesperson, 1 lawyer and 1 member of the public.In order to maintain a real estate license as inactive, the

licensee must:

An inactive licensee must complete an approved core class every two years and renew the license according to the

New Hampshire Real Estate Practice act.