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

The purpose of the NH Real Estate Commission is to - Answer-License and regulate real estate agents Entry Only Listings (limited service listings) are - Answer-Considered listings and must comply with listing requirements Look up entry only listings - AnswerAppointing 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 what is fiduciary - AnswerAll advertising by real estate agents must include the following EXCEPT: - Answer-The address of the real estate firm or principal broker. The performance of ministerial acts - Answer-Involves performance of acts that are administrative in nature Dual agency - Answer-Requires written informed consent. The definition of real estate brokerage activity includes: - Answer-The resale of timeshare units A Cooperating Brokerage Agreement with an out-of-state broker: - Answer-Establishes a sub-agency relationship The Exempted Classes (persons not needing a real estate license) include the following - AnswerThe Brokerage Relationship Disclosure Form should be provided to consumers - Answer-At the first business meeting. Principal brokers must notify the NH Real Estate Commission in writing within 5 days - Answer-If a salesperson or associate broker is no longer associated with the principal broker. All licensees must notify the NH Real Estate Commission of the following within 10 days EXCEPT: - Answer-No longer a member of the Realtor® Association In addition to a 3-hour CORE course, all active license renewals require - Answer-An additional 12 hours of accredited elective courses. 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 A listing agent representing the seller is a facilitator to an unrepresented buyer. - Answer-TRUE What is a facilitator? - Answer-an individual licensee who assists one or more parties during all or a portion of a real estate transaction without being an agent or advocate for the interests of any party to such transaction. [everyone is a customer, no one is a client; you can't be a facilitator to anyone in a transaction if you represent (listing or buyer-agency agreement) another party in the transaction] What are fees for service? - AnswerWhat are entry only listings - AnswerWhat are advanced fees - AnswerWhat is an undisclosed dual agent? - AnswerWhat is a disclosed dual agent? - Answer-a licensee acting for more than one party whose interests may differ in a transaction with the knowledge and written consent [dual agency informed consent agreement] of all parties for whom the licensee acts. What is a sellers agaent?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 - Answer-30 days The sale of waterfront property requires a septic site assessment study prior to - Answer-Closing date What are ministerial acts? - AnswerWhat are anti trust activities? - AnswerWhich protected class NEVER has an exception against discrimination in housing - Answer-Race What must a brokerage listing include? - AnswerCopies of written instruments must be provided to any party executing documents - Answer-Without delay What is an agency disclosure? - AnswerInactive licensees are required to do the following - Answer-3hr core clourse Active license renewals - Answer-3hr core + 12 hr electives When listing a 1 to 4 family for sale, a licensee must ask the seller for the following information EXCEPT - Answer-Age of heating systemA licensee must disclose known material defects: - Answer-Prior to a written offer What is the S.A.F.E. Act? - Answer-Prohibits real estate agents from negotiating short sales with lenders An example of anti-trust group boycott could be: - Answer-Realtors® refusing to do business with nonRealtors® "Reasonable Supervision" by principal and managing brokers includes the following - AnswerAn example of ministerial acts could be - Answer-Attending an open house Real estate licensees must present offers: - Answer-In a timely manner