New Hampshire State Real Estate Practice Exam

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• What does zoning regulate?
• How is an easement defined?
• What is required when advertising another agent's listing?
• What does the term principal refer to in a mortgage?
• An attorney selling property for a client is required to have what?
• How can real estate be financed?
• Define zoning in real estate terms.
• What is the consequence of a salesperson advertising in a misleading manner?
• How long are real estate offices in New Hampshire required to keep transaction records?
• In New Hampshire, who needs to be a licensed real estate broker?
• Which statement is true for an individual selling her own house?
• Why is property assessed for taxation?
• What is the primary function of the New Hampshire Real Estate Commission?
• In New Hampshire, what is the minimum age to obtain a real estate license?
• What document formalizes the buyer's offer and outlines the terms of sale?
• How long is a real estate license valid in New Hampshire?
• What does a credit score determine in the mortgage process?
• What does "closing" refer to in a real estate transaction?
• The process of evaluating similar properties to assess market conditions is known as?
• What is a "real estate investment trust" (REIT)?
• What is the legal term for an unauthorized use of another person's property?
• If a sole proprietor's license is suspended, what happens to the licenses of their associates?
• What is a deed in lieu of foreclosure?
• What is a contract for deed?
• What is considered a "broker" in New Hampshire real estate?
• What is a "listing agreement"?
• What is "real estate syndication"?
• What is a "balloon mortgage"?
• What is the significance of a title search?
• Which of the following is true about a fixed-rate mortgage?
• Which of the following best describes the role of a real estate agent?
• An unlicensed individual who engages in activities that require a real estate license is guilty of what type of offense?
• What are "loan origination fees"?
• Which of the following is considered a material fact in a real estate transaction?
• What is a real estate investment trust (REIT)?
• What is the process for making an offer on a property in New Hampshire?
• What typically happens during a property appraisal?
• What is the primary purpose of site plans in real estate?
• In New Hampshire, what does "cap rate" measure?
• Who selects the members of the NH Real Estate Commission?
• What is a condition often stipulated in a lease agreement?
• Can a person who has not yet obtained a real estate license collect a commission in NH for a sale agreed upon before passing their exam?
• What is the purpose of a title search in a real estate transaction?
• The NH Real Estate Commission may investigate a licensee based on which of the following grounds?
• What does "escrow" refer to in real estate transactions?
• What type of document typically initiates a real estate transaction?
• Within how many days must a housing discrimination charge be filed with the NH Human Rights Commission?
• What is the purpose of the broker's bond?
• When a broker applies for a branch office license, which requirement must they meet?
• What is the role of the New Hampshire Association of Realtors?
• What is a "short sale" in real estate?
• What is a "foreclosure"?
• What role does an appraisal serve in real estate?
• What is required from a real estate advertisement in New Hampshire?
• What is meant by "fair housing"?
• What is the consequence for a salesperson's employing broker when the salesperson violates the NH Human Rights Act?
• What is a partition action in real estate?
• What defines a fixed-rate mortgage?
• What role does a real estate broker play in a property sale?
• What does an earnest money deposit signify in a property transaction?
• How often should a property be appraised during the buying process?
• What does "force majeure" mean in a lease agreement?
• What is the definition of "eminent domain"?
• What is the primary statute governing real estate in New Hampshire?
• What does "disclosure" refer to in a real estate transaction?
• Under New Hampshire law, who must be licensed when dealing with options on real estate?
• What is the main purpose of a home inspection?
• What is the difference between "exclusive agency" and "exclusive right to sell"?
• Which of the following is not considered "valuable consideration"?
• Which of the following persons must have a real estate broker's license in order to transact business?
• What does "eminent domain" refer to?
• What is the significance of contingencies in a purchase agreement?
• What is the minimum age requirement to obtain a real estate license in New Hampshire?
• How often must a real estate license be renewed in New Hampshire?
• What is a characteristic of an improvement in real estate?
• What is "dual agency" in real estate?
• What is the legal process of transferring ownership of real property called?
• Who appoints members of the New Hampshire Real Estate Commission?
• What age must individuals be to legally sell real estate in New Hampshire?
• Which group needs a real estate license to operate in New Hampshire?
• What characterizes a "for sale by owner" (FSBO) transaction?
• What are "property disclosures"?
• What is required before a licensee can represent a client in a real estate transaction in New Hampshire?
• What type of property is not subject to zoning laws in New Hampshire?
• What is the purpose of a purchase and sale agreement?
• What is a lien?
• What is meant by the term "commission split" in real estate?
• What defines a "tenant at sufferance"?
• How many character references are required to apply for a real estate license in New Hampshire?
• What are financial disclosures in a real estate transaction?
• What does a home warranty cover?
• What is title insurance used for?
• What role does an escrow agent play in a real estate transaction?
• What typically characterizes multifamily housing?
• What must be established for a real estate agent to legally represent a client?
• In New Hampshire, when do real estate salesperson licenses expire?
• What is required for a partnership, association, or corporation to be granted a broker's license in New Hampshire?
• How are property taxes assessed in New Hampshire?
• What must a licensee disclose when acting as a dual agent?
• What are the potential consequences of practicing real estate without a license in New Hampshire?
• What type of property ownership allows two or more people to own property together?
• How many hours of continuing education must real estate licensees complete every two years in New Hampshire?
• How many recognized protected classes are there under the Human Rights Laws in New Hampshire?
• What is typically included in a real estate purchase agreement?
• What does "property disclosure" entail?
• What does the NH Real Estate Commission require from principal brokers regarding escrow account audits?
• What is the primary financing method used in real estate transactions?
• What is true about the office manager at a local real estate firm?
• In NH, which is NOT a requirement for obtaining a broker's license?
• What should a seller respond in a property condition disclosure if she knows nothing about plumbing system problems, but the pipes need replacement?
• Which of the following is a requirement for a real estate license in New Hampshire?
• What does real property include?
• Which document is commonly used to transfer ownership of real estate?
• What is necessary for a salesperson to legally advertise another agent's property?
• How many hours of continuing education are required for renewal of a real estate license in New Hampshire?
• What is an earnest money deposit?
• Who is exempt from the real estate licensing requirement when engaged in real estate activities?
• Who must obtain a real estate license according to the NH Real Estate License Act?
• What type of advertising is prohibited in New Hampshire real estate?
• What does the role of an escrow agent NOT include?
• How can a property be appraised?
• What does "probate" refer to in real estate?
• What is the primary purpose of the New Hampshire Real Estate Commission?
• What does the term lease refer to in real estate?
• What is a "short sale" in real estate?
• Which of the following is an example of a ministerial act under New Hampshire agency law?
• Which document is commonly used to transfer ownership from the seller to the buyer?
• Who administers the real estate license law in New Hampshire?
• What authority does the NH Real Estate Commission have?
• What is a real estate listing?
• In a newspaper ad for a property, what implication does stating that the seller is motivated to negotiate have?
• What is a purchase and sale agreement?
• Which term refers to residential buildings designed to house multiple families?
• An applicant for a real estate license in NH must:
• On what basis is property assessed for taxation in New Hampshire?
• What is the legal age of competence in New Hampshire?
• What is a requirement for all listings under New Hampshire law?
• Which of the following statements about non-resident licensing in NH is true?
• What is a "wrap-around mortgage"?
• What is the timeframe for submitting an application for a real estate license in New Hampshire?
• What term describes the process of transferring property ownership?
• What constitutes an "improvement" in the context of real estate?
• A person must be licensed if she is:
• What is the effective date of a real estate contract?
• What is a "lease-option"?
• Which action is legal and not a violation of license law?
• What is considered "investment property"?
• What does "due diligence" refer to in the context of real estate transactions?
• What is required for a broker to legally deposit escrow money?
• What meets the continuing education requirement in New Hampshire?
• What is a "sublet" in rental agreements?
• What is the purpose of a real estate appraisal?
• When may a person who has passed the exam on November 18, 2000, apply for the salesperson license after notification on December 1, 2000?
• What is the purpose of a property management agreement?
• Which statement about temporary licenses is NOT true?
• What does closing refer to in real estate transactions?
• Which of the following is NOT a required provision in NH listing agreements?
• What is a mortgage contingency?
• What does a seller's motivation to negotiate typically imply in real estate advertising?
• Which statement is true regarding Housing for Older Persons in New Hampshire?
• What does it mean when a property is 'under contract'?
• What should a real estate salesperson do if asked to secure a mortgage for clients?
• What should a licensee provide to the NH Real Estate Commission upon request?
• In New Hampshire, how often must licenses be renewed?
• What is the primary role of a real estate attorney in a transaction?
• Which of the following roles does NOT require a real estate license?
• Which of the following actions would subject a licensee to disciplinary action?
• What does "market value" refer to in real estate?
• What does the term "listing agreement" refer to?
• Who is required to have a real estate license?
• What does 'assessed value' refer to?
• Which of the following actions is NOT a valid reason for revoking a broker's license in NH?
• What are property taxes used for?
• Under NH law, what is true about a landlord's "no pets" policy regarding a visually impaired person with a guide dog?
• In real estate, what does "comparative market analysis" involve?
• What is the benefit of having a clear title before selling a property?
• What are "comparables" used for in real estate?
• What is the main responsibility of a property manager?
• What must a salesperson or broker do to renew an active license in New Hampshire?
• What is a requirement for real estate brokers in New Hampshire concerning trust accounts?
• What is included in the concept of real property?
• A licensed resident of any state with reciprocity with NH wishes to obtain a NH real estate license. What must they do?
• What is a "closing disclosure"?
• What is the minimum passing grade for the licensing exam for real estate in NH?
• What does a closing statement detail?
• When can a real estate license be considered valid?
• If a licensee allows their license to expire, how long do they have to reinstate it without penalty?
• How is a real estate agent's commission typically calculated?
• What defines a federally backed mortgage?
• What is the maximum amount of security deposit a landlord can charge in New Hampshire?
• How long is a temporary license valid after the death or incapacity of a broker?
• What does "escrow" refer to in a real estate transaction?
• What is the purpose of a home inspection?
• In New Hampshire, what is the minimum education requirement for obtaining a real estate license?
• What is a requirement to obtain a real estate salesperson's license in NH?
• Which of the following statements about the NH Real Estate Commission is NOT true?
• What is a "listing agreement"?
• What is a primary advantage of a fixed-rate mortgage?
• What is the primary purpose of a home inspection?
• Which action is NOT grounds for suspending or revoking a broker's license in NH?
• Which agency is primarily responsible for regulating real estate in New Hampshire?
• What aspect of home equity can be beneficial for homeowners?
• When advertising real property, real estate licensees must:
• What does "home equity" refer to?
• What is the primary role of the New Hampshire Real Estate Commission?
• How long does the NH Real Estate Commission have to take disciplinary actions after a complaint is filed?
• What process does market analysis involve?
• Who is responsible for ensuring the property is free of liens prior to closing in New Hampshire?
• What does the term escrow account refer to?
• What is a common responsibility of property owners under local zoning laws?
• In which document would you find the legal description of a property?
• What is the maximum duration for a real estate license in New Hampshire?
• What is "dual agency" in real estate?
• What is a real estate broker's fiduciary duty to a client?
• What are "contingencies" in a real estate contract?
• What courses are required for the renewal of a salesperson's real estate license?
• What is defined as the maximum loan amount a lender will provide?
• Where can a person file a complaint if they believe they have been discriminated against?
• What is a mortgage contingency?
• Who is obligated to obtain a broker's bond in New Hampshire?
• What does "market value" represent?
• What is a potential consequence of allowing a real estate license to expire?
• What is the significance of a lease agreement?
• What does the term "encumbrance" refer to?
• What is the closing disclosure?
• Which of the following is not a type of property ownership?
• A salesperson's license can be revoked for which of the following reasons?