NH State from Practice Test

Question 1

material defects must always be……..; or else the professional can be……..

Answer 1

disclosed; sued

Question 2

reg. the discl. of private water supply, insulation, and sewage – a licensee is or is not required to ask the seller specific information in the listing of a 2 unit residential property

Answer 2

is

Question 3

Before a fiduciary relation ship is established (buyer agency relationship) with the client, the salesperson can do many things except:

Answer 3

negotiate contracts

Question 4

a cooperating broker may be a:

Answer 4

seller’s subagent, a buyer’s agent, or a facilitator

Question 5

to work at a new brokerage, an associate broker must first:

Answer 5

have the first broker return the associate broker’s license to the commission and the new broker must notify the commission of the changes & send in forms/fees

Question 6

an unlicensed real estate assistant may perform many things but not explain simple………… ………. to prospective buyers

Answer 6

contract documents

Question 7

in a dual agency situation, brokers/ salesperson are in a ……….. ………….. and cannot ……….. for one party to the …………. of the other

Answer 7

limited fiduciary, advocate, disadvantage

Question 8

if a real estate salesperson simply wants to sell his or her own home without including a broker, they ………………………

Answer 8

do not need to disclose the fact that they are a licensee

Question 9

if your principal broker is a sole proprietor and becomes suspended for 2 years or more, the affiliates’ licenses……………

Answer 9

must be returned to the commission

Question 10

remember, no transfer tax unless TRANSFERRED from

Answer 10

one owner to the next (ie: not straight from a manufacturer)

Question 11

no longer available to a surviving husband:

Answer 11

curtesy

Question 12

managing property for multiple owners requires:

Answer 12

a license

Question 13

a partnership, association or corp. will be granted a brokers license as long as

Answer 13

the principal broker has a current licensee

Question 14

an unlicensed person engaging in activities that require a license is guilty of ……………..

Answer 14

a misdemeanor

Question 15

a listing agreement must have 1………. 2. ………… 3………..4………5………..– not a complete ……………. …………….. of the property

Answer 15

1. names 2. addresses> all parties 3. time duration of listing 4. asking price 5. stated professional fee, percentage, or other specific consideration. legal discription

Question 16

with new condo sales, you can also use the 5 day right to rescind with the public …….. ……………

Answer 16

offering statements

Question 17

if the grantors signature is not acknowledged on a deed it is still……… for a period of ………..

Answer 17

valid, 60 days

Question 18

in regards to manufactured housing, when zoning boards meet they must consider that municipalities must provide……………. for manufactured housing.

Answer 18

siting

Question 19

a licensee is required to ask sellers to disclose info reg. type of insulation, condition of private water supply and private sewage disposal system in all transactions except……………..; The agent should or shouldn’t give advice on what to disclose and what to ignore.

Answer 19

commercial property sales. shouldnt