New Hampshire Real Estate Exam
1,496+ Practice Questions & Answers
Every question includes a detailed explanation. Organized by the 12 topics on the New Hampshire real estate salesperson exam.
New Hampshire License Law
145 questions- Which state agency regulates real estate licenses in New Hampshire?
- How many hours of pre-license education are required to sit for the New Hampshire real estate salesperson exam?
- The New Hampshire real estate salesperson licensing exam consists of how many questions?
- What is the minimum passing score required on the New Hampshire real estate salesperson exam?
- In New Hampshire, a real estate salesperson must work under the supervision of:
- New Hampshire real estate licenses are renewed every:
- Which of the following persons is generally exempt from New Hampshire real estate licensing requirements?
- Under New Hampshire license law, a licensee must notify the Commission of a change of address within:
- A New Hampshire broker who holds client funds in their trust account and uses those funds for personal expenses has committed:
- To obtain a New Hampshire broker's license, a salesperson must have at least:
- In New Hampshire, real estate advertising must:
- The New Hampshire Real Estate Commission has authority to:
- How many hours of continuing education must a New Hampshire licensee complete each renewal cycle?
- A New Hampshire salesperson license that is not renewed on time automatically becomes:
- Under New Hampshire law, a real estate broker must maintain a trust account separate from operating funds primarily to:
- Which of the following activities requires a New Hampshire real estate license?
- The NH Real Estate Commission may impose which of the following penalties on a licensee who violates license law?
- In New Hampshire, which of the following must be included in a brokerage's written company policy?
- A licensee in New Hampshire who wishes to transfer to a new broker must:
- What is the primary purpose of the NH Real Estate Commission's Recovery Fund?
- A New Hampshire salesperson who operates their own real estate office and accepts compensation directly from clients (without a supervising broker) is:
- Under New Hampshire license law, the term 'principal broker' refers to:
- Under RSA Chapter 331-A, a New Hampshire real estate license expires:
- A New Hampshire salesperson license applicant must be sponsored by:
- How many continuing education hours must a New Hampshire licensee complete each renewal cycle?
- Which of the following activities requires a real estate license in New Hampshire?
- The New Hampshire Real Estate Commission is composed of how many members?
- A New Hampshire broker who wishes to operate as an independent sole proprietor must:
- Under New Hampshire law, what must a licensee disclose to a prospective buyer at first substantive contact?
- A New Hampshire real estate license may be placed on inactive status when:
- Which of the following is NOT a ground for license revocation under RSA 331-A?
- A licensee moving from Massachusetts to New Hampshire may obtain a NH license through:
- A New Hampshire real estate salesperson may NOT:
- Under RSA 331-A, the New Hampshire Real Estate Commission may impose which of the following sanctions?
- A New Hampshire licensee who changes their employing broker must:
- Which of the following persons is EXEMPT from New Hampshire real estate licensing requirements?
- The primary purpose of the New Hampshire Real Estate Commission is to:
- A NH broker must maintain trust account records for at least:
- In New Hampshire, a real estate team operating under a broker must:
- Commingling in New Hampshire real estate refers to:
- Conversion of client funds by a New Hampshire broker involves:
- A New Hampshire licensee who engages in misrepresentation may face:
- A New Hampshire broker opens a new branch office. The broker must:
- Which of the following best describes the 'first substantive contact' requirement in New Hampshire?
- A New Hampshire real estate licensee found guilty of discriminatory conduct may face sanctions from:
- A NH licensee who is also an attorney must follow:
- Under NHREC rules, advertising a property for sale must include:
- A NH broker's trust account must be:
- An unlicensed personal assistant in New Hampshire may legally:
- A NH real estate licensee must disclose their licensed status when:
- A New Hampshire broker who discovers a salesperson in their firm has committed fraud must:
- The NH Real Estate Commission may conduct audits of a broker's trust account:
- A NH real estate broker must keep completed transaction files for at least 5 years because:
- A New Hampshire licensee who changes their legal name must:
- A NH broker's supervision obligations include:
- A NH real estate licensee who is convicted of a felony must:
- Under NH law, a salesperson who has passed the licensing exam but has not yet affiliated with a broker:
- A NH broker who receives an earnest money deposit must deposit it into the trust account:
- A NH broker who operates as a corporation must:
- A NH licensee who represents a family member in a real estate transaction should:
- A NH real estate license may be reinstated after suspension by:
- A NH salesperson who wants to become a broker must:
- A NH licensee who pays an unlicensed person for referring a buyer is:
- Under NHREC rules, a NH broker who wishes to close their brokerage must:
- A NH broker who advertises a property must ensure the advertising is:
- A NH broker who wishes to advertise as a 'real estate consultant' while performing brokerage activities:
- A NH real estate licensee who wishes to work in another state must:
- The NH Real Estate Commission's website provides which of the following public services?
- A NH licensee who fails to disclose a known material defect in a property may face which consequences?
- A NH licensee found to have violated the license law may appeal a NHREC decision to:
- A NH real estate broker who holds a property management contract must supervise property management activities under:
- Under NH law, which of the following requires a real estate license?
- A NH salesperson who moves to a new broker must inform clients they are working with of:
- A NH broker who operates a property management business must ensure that:
- A NH licensee who is the subject of a consumer complaint must respond to the NHREC investigation:
- A NH broker who receives a complaint from a dissatisfied client should:
- NH licensees must complete which of the following as part of their renewal continuing education?
- NH's reciprocity agreements benefit out-of-state licensees by:
- A NH salesperson who places a 'for sale by owner' sign on a property they are helping to market without broker permission is:
- A NH real estate broker's license may be revoked for which of the following?
- A NH licensee who violates the NHREC's code of professional conduct may face:
- Under NH law, a real estate transaction involving a property owned by the licensee personally must be disclosed to:
- A NH real estate team leader must ensure team members:
- A NH broker who co-lists a property with another broker must ensure that the co-listing agreement:
- NH's NHREC requires that all listings placed on the MLS must be:
- A NH licensee whose license is in 'inactive' status:
- A NH licensee who witnesses another licensee committing fraud should:
- NH licensees advertising on social media must ensure that:
- A NH licensee who wishes to operate under a team name must ensure the team name:
- A NH licensee who earns income from both real estate brokerage and property management under the same broker must:
- A NH broker who negotiates a lease on behalf of a commercial tenant must have a written:
- A NH licensee can refer clients to home warranty companies, inspectors, and attorneys as long as they:
- When the NHREC adopts new rules or regulations, NH licensees are responsible for:
- A NH licensee convicted of a crime involving dishonesty or breach of trust should understand that:
- A NH real estate license applicant who discloses a prior criminal conviction on their application will:
- A NH real estate licensee who assists a buyer in purchasing the licensee's own property must:
- Under NH law, a salesperson must have all contracts and agreements reviewed by:
- A NH broker who operates multiple offices under a single license must ensure:
- A NH broker who merges their business with another broker must:
- A NH real estate instructor who teaches pre-license courses must:
- A NH salesperson who wants to perform property management activities must:
- A NH broker who has not obtained their required continuing education by the license renewal deadline will:
- When a NH salesperson leaves a brokerage, the employing broker must:
- A NH real estate broker's E&O insurance protects against claims of:
- Under NH RSA 331-A, what is the minimum age requirement to obtain a real estate salesperson license in New Hampshire?
- A NH real estate licensee's failure to renew by the license expiration date results in:
- A NH real estate broker who holds trust account funds must maintain them in:
- Under NHREC rules, a NH real estate licensee must present all written offers to a seller:
- A NH real estate salesperson who wishes to become a broker must first:
- A NH licensee who has been found guilty of fraud or misrepresentation in a real estate transaction may face:
- The NH Real Estate Commission (NHREC) is empowered to investigate complaints against licensees. Who may file a complaint with NHREC?
- Which of the following activities by an unlicensed person would NOT require a real estate license in NH?
- Under NH RSA 331-A, a licensee who discovers that the property they are listing has an illegal accessory dwelling unit (ADU) that was not disclosed by the seller should:
- A NH real estate licensee who wishes to place their license on inactive status must:
- A NH real estate licensee who moves to a new supervising broker must:
- In NH, 'earnest money' deposited with a listing broker is considered:
- NHREC's continuing education (CE) requirement for NH licensees at each renewal is:
- A NH licensee who advertises a property must include which of the following in the advertisement?
- Under NH law, can a real estate salesperson operate independently without a sponsoring broker?
- A NH real estate broker may pay a commission referral fee to an out-of-state licensee who referred a buyer. This payment is:
- A NH licensee who discovers that a property they are helping to sell has an encroachment from a neighboring structure must:
- NHREC's jurisdiction covers which real estate license law violations?
- Under NHREC rules, a NH listing broker must present all offers to the seller until:
- A licensed NH broker who operates their own brokerage is referred to as:
- A NH licensee who violates license law may face which of the following penalties from NHREC?
- If a NH buyer pays their buyer's agent directly for services, the broker's duty to account for the funds requires:
- A NH real estate licensee who wishes to use a team name in advertising must ensure the team name:
- A NH salesperson's license is automatically suspended if:
- Under NH RSA 331-A, a real estate licensee may NOT receive compensation from both the buyer and seller in the same transaction unless:
- A NH broker who wants to open a second office location must:
- A NH real estate licensee who wants to advertise on social media must:
- A NH real estate licensee who also holds a mortgage broker license may:
- A NH buyer's agent who also receives compensation from a mortgage company for referring the buyer must:
- Under NH law, what happens to a real estate license if the licensee is convicted of a felony involving fraud or dishonesty?
- NHREC's disciplinary proceedings are governed by the NH Administrative Procedure Act (RSA 541-A), which means:
- A NH real estate licensee must maintain records of all real estate transactions for a minimum of:
- NH RSA 331-A defines 'real estate brokerage' to include which of the following activities for compensation?
- A NH licensed real estate salesperson who has passed the broker exam but has not yet affiliated with a licensed broker may:
- A NH licensee who wishes to sell their own property while in the transaction as a seller must:
- A NH broker who allows a non-licensed assistant to show properties to buyers is:
- A NH licensee who provides a 'broker price opinion' (BPO) must ensure that the BPO:
- Under NHREC rules, which of the following is required on a NH real estate licensee's business card?
- The NH Real Estate Commission is composed of members appointed by the governor. The typical composition includes:
- The primary purpose of NH's real estate licensing law (RSA 331-A) is to:
- In New Hampshire, real estate salesperson applicants must complete how many hours of pre-license education?
Finance
135 questions- New Hampshire does not have a general state sales tax or state income tax. How does this affect real estate transactions?
- A mortgage with a 30-year term and fixed rate compared to a 15-year fixed rate will have:
- An FHA loan requires an upfront mortgage insurance premium (UFMIP) of 1.75% of the base loan amount. For a $250,000 loan, what is the UFMIP?
- Points paid to a lender at closing to reduce the mortgage interest rate are called:
- Under the Equal Credit Opportunity Act (ECOA), a lender may NOT deny a mortgage based on:
- What is the debt-to-income (DTI) ratio a lender uses to qualify a borrower?
- A conventional loan typically requires private mortgage insurance (PMI) when the down payment is less than:
- What is the maximum loan amount for a standard conforming conventional mortgage in most U.S. markets for a single-family home in 2024?
- A VA loan benefit available to eligible veterans and service members includes:
- The Truth in Lending Act (TILA) requires lenders to disclose the:
- An adjustable-rate mortgage (ARM) has a 2/1 buydown structure. This means:
- RESPA (Real Estate Settlement Procedures Act) was designed to:
- Which of the following best describes a 'balloon mortgage'?
- New Hampshire's real estate transfer tax (RETT) is generally paid by:
- What is 'negative amortization' in a mortgage?
- New Hampshire's Real Estate Transfer Tax is paid at a rate of:
- New Hampshire does NOT have which of the following taxes?
- A buyer in New Hampshire is purchasing a home for $350,000 with a 10% down payment. What is the loan-to-value (LTV) ratio?
- Private mortgage insurance (PMI) is typically required in New Hampshire when the buyer's down payment is less than:
- An adjustable-rate mortgage (ARM) in New Hampshire typically features:
- Which government-sponsored enterprise (GSE) purchases conventional conforming mortgages in the secondary market?
- A New Hampshire buyer using a FHA loan must pay:
- The Truth-in-Lending Act (TILA) requires lenders to disclose the:
- New Hampshire property taxes are assessed and collected at the:
- A discount point on a New Hampshire mortgage loan equals:
- The Federal Reserve's primary tool for influencing mortgage interest rates is:
- A VA loan benefit available to eligible New Hampshire veterans includes:
- USDA Rural Development loans may be available to New Hampshire buyers purchasing in:
- A balloon mortgage requires the borrower to:
- The debt-to-income ratio (DTI) used by New Hampshire lenders measures:
- The secondary mortgage market in the United States serves primarily to:
- A New Hampshire lender who violates RESPA by accepting a kickback from a title company has committed:
- An interest-only mortgage in New Hampshire means the borrower's monthly payment:
- New Hampshire has no state sales tax, which affects real estate transactions in that:
- Prepayment penalties on New Hampshire mortgages:
- A 'lock-in' or rate lock on a New Hampshire mortgage means:
- Points paid by a buyer to obtain a lower mortgage interest rate are called:
- The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating against loan applicants based on:
- The Home Mortgage Disclosure Act (HMDA) requires lenders to:
- A New Hampshire homebuyer applies for an FHA loan. The maximum loan amount is determined by:
- A New Hampshire lender uses a 28/36 qualifying ratio. A buyer with gross monthly income of $5,000 may have a maximum PITI payment of:
- New Hampshire does not have a state income tax on wages, which affects homebuyers because:
- A New Hampshire buyer's lender orders an appraisal. The appraisal comes in $15,000 below the contract price. The lender will base the loan on:
- Which of the following NH buyers would most likely use a USDA Rural Development loan?
- A New Hampshire seller who pays the buyer's closing costs as a seller concession must ensure the total concessions do not exceed:
- A 'jumbo' mortgage in New Hampshire is a loan that:
- A NH buyer who shops for a mortgage and receives multiple loan estimates within 45 days will have all inquiries counted as:
- A NH borrower with a FICO score of 740 will generally qualify for:
- A NH homeowner's mortgage has a due-on-sale clause. When the property is sold:
- The Truth-in-Lending Act requires the Annual Percentage Rate (APR) to be higher than the stated interest rate because the APR includes:
- A NH lender is required to provide the Loan Estimate (LE) to a borrower within how many business days of receiving a complete loan application?
- The Community Reinvestment Act (CRA) encourages lenders to:
- A NH seller who carries back a purchase money mortgage is acting as:
- The NH Housing Finance Authority (NHHFA) assists NH residents by:
- A home equity line of credit (HELOC) in New Hampshire is secured by:
- A NH lender's underwriting process evaluates a borrower's creditworthiness through which primary factors?
- A NH homebuyer's 'pre-qualification' for a mortgage differs from 'pre-approval' in that pre-qualification is:
- An 80/10/10 financing structure in New Hampshire means:
- A 'hard money' loan used by a NH real estate investor typically features:
- When a NH homeowner refinances their mortgage, the right of rescission under TILA allows them to cancel the transaction within:
- An assumable mortgage in New Hampshire allows:
- A NH buyer who pays cash for a property will still typically need:
- A mortgage that covers two or more parcels of land is called a:
- A NH buyer's debt-to-income ratio of 50% would likely result in:
- A NH lender's 'points' charged at origination increase the effective cost of the loan because:
- Under RESPA, which of the following is an allowable marketing relationship between a title company and a real estate broker?
- A NH homebuyer's first monthly mortgage payment is due:
- A NH property owner who holds a mortgage note may sell that mortgage note to:
- Negative amortization on a NH mortgage means:
- In New Hampshire, mortgage interest is typically paid:
- A construction-to-permanent loan for a new NH home converts from a construction loan to a permanent mortgage:
- A NH buyer who closes a home purchase on October 15 will receive a credit on the closing statement for prepaid interest from October 15 to October 31. This is called:
- Trigger terms in mortgage advertising under TILA include disclosing the full finance terms when an ad mentions:
- A NH buyer who receives a gift for a down payment must provide the lender with:
- A NH buyer with a significant amount of student loan debt applying for a conventional mortgage will find that student loans affect their:
- The 'three-day right of rescission' under TILA applies to which NH transaction?
- A 'portfolio loan' offered by a NH community bank is one that:
- A NH homeowner who wants to tap their home's equity while retaining ownership should consider a:
- A NH bridge loan allows a homeowner to:
- A NH borrower with a 640 FICO score would most likely be steered toward which loan product?
- NH first-time homebuyers may benefit from the NH Housing Finance Authority (NHHFA) programs because they offer:
- A NH homebuyer who is purchasing a property in a USDA-eligible rural area with no down payment should expect to pay:
- A reverse mortgage in New Hampshire allows eligible homeowners aged 62 and older to:
- A NH commercial real estate investor's loan has a 'recourse' provision. This means:
- A NH buyer's mortgage note is a promise to repay, and the mortgage itself is a:
- A NH lender who approves a loan but requires the borrower to escrow for property taxes and insurance is doing so because:
- A NH homebuyer who receives a seller credit at closing must understand that the credit:
- When a NH property's appraised value comes in below the contract price, the buyer's options include:
- A NH buyer's 'rate lock' commitment from a lender is important because:
- A NH commercial real estate appraisal ordered for a business acquisition loan will typically use which value standard?
- A NH homeowner's equity increases when:
- The Home Equity Conversion Mortgage (HECM) reverse mortgage requires NH homeowners to be at least:
- NH buyers who use a 203(k) FHA renovation loan can finance:
- A NH property with a non-warrantable condominium designation (e.g., over 15% investor-owned or involved in litigation) may:
- A NH buyer's ability to obtain a 'stated income' loan (where income is not verified by documentation) is:
- Which of the following correctly describes the NH Real Estate Transfer Tax as applied to a $350,000 home sale?
- A NH buyer is using an FHA loan with 3.5% down on a $320,000 purchase. What is the minimum down payment required?
- A NH buyer is obtaining a conventional loan and will pay PMI (private mortgage insurance). PMI is typically required when:
- A NH buyer's debt-to-income (DTI) ratio for a conventional mortgage should generally not exceed:
- In NH, the annual percentage rate (APR) on a mortgage loan differs from the stated interest rate because:
- A NH homeowner's adjustable-rate mortgage (ARM) has an initial rate of 4% with a 2/6 cap. This means:
- A NH buyer uses a VA loan to purchase a home. Which of the following is true about VA loans?
- In NH, a homeowner who defaults on their mortgage and loses the property through foreclosure may face a deficiency judgment if:
- A NH buyer is offered a mortgage with 2 discount points on a $300,000 loan. How much will the buyer pay in points at closing?
- A NH buyer's loan officer quotes a 30-year fixed mortgage at 7.25% with an APR of 7.55%. The difference between the rate and APR is due to:
- A NH homebuyer applies for a USDA Rural Development loan. To qualify, the property must be located in:
- A NH lender is required to provide a Loan Estimate to a mortgage applicant within:
- The Truth in Lending Act (TILA) primarily protects NH borrowers by:
- A NH buyer's PITI payment includes all of the following EXCEPT:
- The Federal Reserve's open market operations affect NH mortgage rates primarily by:
- A NH borrower with a conventional mortgage may request cancellation of PMI when:
- NH's no-state-income-tax and no-state-sales-tax structure means that NH relies heavily on which revenue source that directly affects property owners?
- A NH buyer obtaining an adjustable-rate mortgage (ARM) should be particularly aware of the 'index' and 'margin' because:
- A NH homebuyer's gross monthly income is $7,500. Using a 28% front-end DTI ratio, what is the maximum allowable monthly PITI payment?
- Under NH's Power of Sale foreclosure process, how is the foreclosure sale conducted?
- A NH buyer is approved for a 'jumbo' mortgage. This means the loan amount:
- A NH homeowner's loan is 'underwater' (negative equity). This means:
- In a NH short sale, the seller receives approval from the lender to sell the property for less than the mortgage balance. The lender's decision is significant because:
- A NH bank appraises a property at $290,000. The buyer offered $305,000. If the lender will loan 80% of the lower of appraised value or purchase price, what is the maximum loan amount?
- The NH Housing Finance Authority (NHHFA) assists NH homebuyers primarily by:
- A NH buyer is required to purchase flood insurance on a property in a FEMA Special Flood Hazard Area. This requirement is imposed by:
- A NH homeowner refinances their existing mortgage with a new loan. The primary reasons homeowners refinance include all of the following EXCEPT:
- In NH, 'seller financing' (also called owner financing) occurs when:
- A NH homeowner with a $280,000 balance on their mortgage wants to take out a $40,000 home equity line of credit (HELOC). The home is worth $380,000. What is the combined LTV after the HELOC?
- A NH borrower's credit score significantly impacts their mortgage rate. A borrower with a 760+ credit score compared to one with a 620 score would typically receive:
- A NH commercial property sells at a 6.5% cap rate. If the same property's NOI increases by 10% next year, and the cap rate remains the same, the property's value would:
- A NH borrower who pays 1 'origination point' on a $375,000 mortgage is paying:
- A NH buyer's real estate attorney reviews the mortgage documents at closing and discovers that the loan terms differ from the Loan Estimate provided at application. Under TRID rules, the buyer:
- Under NH's Power of Sale foreclosure statute (RSA 479), the foreclosure notice must be published in a newspaper and mailed to the borrower. The minimum notice period before the foreclosure sale is:
- A NH property owner who is 62 or older may qualify for a reverse mortgage that provides:
- A NH homebuyer is asked to sign a 'mortgage note' at closing. This document is:
- A NH buyer's lender issues a 'commitment letter' after underwriting. This letter:
- A NH first-time homebuyer using the NH Housing Finance Authority's Home Flex program benefits from:
- A NH borrower receives a mortgage with a 'due-on-sale' clause. This clause means:
- Under the Real Estate Settlement Procedures Act (RESPA), which of the following is prohibited in a NH residential mortgage transaction?
Contracts
134 questions- New Hampshire uses a 'Purchase and Sale Agreement' as the primary real estate contract. For it to be valid, consideration must be:
- In New Hampshire, an offer to purchase becomes a binding contract when:
- The New Hampshire Property Condition Disclosure statement must be provided to:
- A buyer in New Hampshire inserts a home inspection contingency into the purchase agreement. This allows the buyer to:
- Which of the following would make a real estate contract voidable in New Hampshire?
- What is the purpose of an 'earnest money' deposit in a New Hampshire purchase and sale agreement?
- Under the statute of frauds in New Hampshire, real estate contracts must be:
- A counteroffer in a real estate transaction legally:
- In a New Hampshire real estate listing agreement, the 'protection period' clause protects the broker by:
- Which of the following is an example of an executory contract?
- A New Hampshire buyer includes a financing contingency in their offer. If the buyer cannot secure financing, the contingency allows them to:
- What is the legal remedy of 'specific performance' in a real estate contract dispute?
- An open listing allows the seller to:
- Which listing type gives the listing broker the right to a commission even if the seller sells the property themselves?
- A 'time is of the essence' clause in a New Hampshire real estate contract means:
- Which of the following would render a real estate contract void (not merely voidable)?
- In New Hampshire, for a real estate purchase and sale agreement to be enforceable, it must:
- A New Hampshire purchase and sale agreement contingency for financing typically requires the buyer to:
- Earnest money deposited under a New Hampshire purchase and sale agreement is typically held by:
- If a buyer defaults on a New Hampshire purchase and sale agreement, the seller's most common contractual remedy is:
- A New Hampshire listing agreement is a contract between the seller and:
- Under an exclusive right-to-sell listing in New Hampshire, the broker earns a commission if the property sells:
- What is the legal effect of a counteroffer in a New Hampshire real estate transaction?
- A New Hampshire purchase and sale agreement includes an inspection contingency. The inspection reveals a failed septic system. The buyer may:
- Which of the following would make a New Hampshire real estate contract voidable?
- In New Hampshire, an option contract gives the optionee (buyer) the right to:
- A New Hampshire purchase and sale agreement becomes binding when:
- Time is of the essence in a New Hampshire real estate contract means:
- A New Hampshire exclusive agency listing allows the seller to:
- An 'as-is' clause in a New Hampshire purchase and sale agreement:
- Which type of listing agreement is considered most legally problematic and not recognized in New Hampshire?
- In New Hampshire, a buyer who makes an offer on a property has the right to withdraw the offer:
- A novation in a New Hampshire real estate transaction means:
- A New Hampshire buyer who performs all required steps and is ready, willing, and able to close but the seller refuses to convey title may sue for:
- A New Hampshire lease option agreement gives the tenant the option to:
- The integration clause (merger clause) in a New Hampshire purchase and sale agreement states that:
- A New Hampshire purchase and sale agreement includes a home sale contingency. This means:
- When a New Hampshire buyer signs a purchase and sale agreement, the buyer's equitable title means:
- A real estate contract that lacks consideration is:
- A New Hampshire seller accepts a buyer's offer at full price. Before closing, the seller receives a higher offer from another buyer. The seller:
- The term 'closing' in a New Hampshire real estate transaction refers to:
- A New Hampshire listing agreement that has no specified expiration date is:
- A New Hampshire seller's disclosure form is completed:
- In New Hampshire, an addendum to a purchase and sale agreement must be:
- Mutual assent (meeting of the minds) in a New Hampshire real estate contract is established by:
- A contingency in a New Hampshire real estate contract protects the party for whose benefit it was included. It may be waived by:
- A New Hampshire purchase contract 'subject to attorney review' means:
- A NH buyer's offer states 'closing on or before June 30.' If the buyer cannot close by that date:
- An escalation clause in a NH purchase offer allows the buyer to:
- A NH purchase and sale agreement that is recorded in the county registry of deeds provides:
- Rescission of a NH real estate contract returns the parties to:
- In a NH 'short sale,' the seller's lender must agree to:
- An amendment to a NH purchase and sale agreement must be:
- A NH seller signs a listing agreement and then changes their mind about selling. The seller may:
- In NH, the typical earnest money deposit on a residential purchase is:
- A NH contract for the sale of real property that is oral but has been partially performed (e.g., the buyer has made a down payment and taken possession) may be:
- A NH lease that auto-renews (evergreen lease) unless the tenant provides notice requires the tenant to:
- A NH property owner who receives an unsolicited cash offer must:
- A NH seller's obligation upon signing a purchase and sale agreement includes:
- Under a NH purchase and sale agreement, the seller warrants that at closing the property will be delivered:
- In NH real estate, 'time is of the essence' clauses are most commonly associated with:
- A NH buyer receives the seller's signed counteroffer on a Friday evening. The buyer must accept by Saturday noon per the counteroffer's terms. If the buyer does not respond by Saturday noon:
- A NH buyer who submits an offer 'as-is' without an inspection contingency assumes the risk of:
- A NH real estate contract that includes an unlawful provision (e.g., a racially discriminatory restriction) is:
- A NH buyer's waiver of the financing contingency means the buyer:
- A NH real estate purchase contract that is unconscionable (extremely one-sided) may be found by a court to be:
- Under New Hampshire law, a seller who fails to disclose known material defects that the buyer could not reasonably discover may be liable for:
- A NH buyer who misrepresents their financial qualifications in a purchase offer has committed:
- A NH seller who agreed to leave the washer and dryer in the sale but removed them before closing has:
- A NH seller's acceptance of an offer that is transmitted by email is valid when:
- In a NH lease, the quiet enjoyment covenant means the tenant has the right to:
- A NH seller's disclosure form is most important because it:
- A 'kick-out clause' in a NH purchase and sale agreement allows the seller to:
- A NH seller who misrepresents a property condition in the seller's disclosure can be held liable even after closing under the doctrine of:
- In a NH real estate contract, an escalation clause without a cap on the buyer's maximum price is:
- A NH seller who accepts an offer but then receives a higher offer the next day should:
- A NH buyer who is pre-approved for a mortgage of $320,000 offers $335,000 with a financing contingency for $320,000. This structure means:
- A NH seller's 'as-is' sale with no representations is most commonly associated with which type of sale?
- A NH commercial lease often includes a 'force majeure' clause. This clause addresses:
- A NH purchase and sale agreement clause stating 'seller to repair roof prior to closing or reduce price by $8,000' is a:
- In NH, a broker's authority to sign a contract on behalf of a client requires:
- A NH purchase and sale agreement that contains a due diligence period allows the buyer to:
- A NH landlord's acceptance of rent from a holdover tenant after the lease expires without a new written agreement typically creates a:
- A NH buyer submits an offer with a 72-hour response deadline. If the seller does not respond within 72 hours:
- A NH purchase contract that is 'subject to seller finding a new home' is an example of a:
- A NH lease for a term longer than one year that is NOT in writing is:
- A 'letter of intent' (LOI) in a NH commercial real estate transaction is typically:
- A NH purchase contract that specifies the home must appraise at the purchase price contains an:
- A NH seller who accepts an 'all cash, no contingency' offer should understand that the buyer:
- In NH, a real estate agent who signs their own name to a purchase offer rather than as an agent for their client has:
- A NH buyer requests possession of the property 3 days before closing (pre-closing possession). The seller should:
- A NH commercial real estate purchase agreement often includes a 'representations and warranties' section because:
- A NH home inspection contingency that expires without action by the buyer is:
- A NH buyer who is assigned a purchase contract by the original buyer (assignee) steps into the original buyer's shoes, meaning the assignee:
- A NH purchase and sale agreement is signed on April 1 with a closing date of May 30. The buyer's inspection contingency is for 10 days. By what date must the buyer complete and respond to the inspection?
- Under NH contract law, if a seller refuses to close on the agreed date without legal justification, the buyer's legal remedy may include:
- In NH, an offer to purchase real property becomes a binding contract when:
- In NH, the 'time is of the essence' clause in a purchase and sale agreement means:
- A NH purchase contract includes a financing contingency stating the buyer must obtain a loan commitment by a specific date. If the buyer cannot obtain financing and fails to notify the seller by that date, the result is typically:
- Under NH law, which of the following is NOT a required element for a valid real estate sales contract?
- A NH seller's disclosure form is most accurately described as:
- A NH purchase and sale agreement contains a contingency for the sale of the buyer's current home. If the buyer cannot sell their home in time, they typically:
- In NH, an option contract in real estate gives the optionee (buyer):
- A NH seller receives two simultaneous offers on a property. The seller must:
- A NH listing agreement is best described as:
- In a NH real estate contract, a 'rider' or 'addendum' is best described as:
- Under NH law, a contract signed by a minor (under 18) for the purchase of real property is:
- In NH, a 'backup offer' on a property that has an accepted offer under contract means:
- In NH, a 'counteroffer' legally has what effect on the original offer?
- A NH buyer's offer to purchase includes an earnest money deposit of $10,000. If the seller accepts and the buyer later defaults without legal justification, the deposit:
- A NH buyer makes an offer on a property contingent on obtaining a home inspection 'satisfactory to the buyer.' This type of contingency is:
- A NH purchase and sale agreement specifies that the closing will occur 'on or before June 30.' If the buyer is ready but the seller cannot close until July 5 due to a title issue, the buyer may:
- A NH seller accepts a buyer's offer with a purchase price of $375,000. The seller then receives a better offer for $390,000. The seller may:
- A NH contract for the sale of real estate that is 'void' differs from one that is 'voidable' in that:
- A NH real estate purchase contract that is 'contingent upon attorney review' allows:
- In NH, a 'novation' in the context of a real estate contract means:
- Under NH law, which type of listing agreement provides the broker with the most protection and is the most commonly used?
- In NH, a buyer's 'right of rescission' under TILA (Truth in Lending Act) applies to:
- In NH, a 'letter of intent' (LOI) in a commercial real estate transaction:
- A NH buyer's offer is made 'contingent upon the buyer obtaining satisfactory financing within 21 days.' The seller accepts. On day 20, the buyer receives a loan approval with a rate they find too high. The buyer may:
- A NH buyer signs a purchase and sale agreement but refuses to close without justification. The seller's potential remedies include all of the following EXCEPT:
- A NH seller accepts a buyer's offer and signs the acceptance. Before the signed acceptance is communicated to the buyer, the seller calls the buyer's agent and orally revokes the acceptance. Under NH law:
- A NH contract states that the buyer must obtain a home inspection within 10 days of the effective date. 'Effective date' is typically defined as:
- In NH, a purchase and sale agreement that requires the buyer to 'accept the property in its current condition' most likely refers to:
- A NH purchase and sale agreement includes a 'force majeure' clause. This clause typically addresses:
- A NH commercial lease with a 'percentage rent' clause requires the tenant to pay:
- A NH purchase and sale agreement specifies that disputes between the parties will be resolved by 'binding arbitration.' This means:
- In NH real estate, the 'closing' date differs from the 'possession' date because:
- Under NH law, a real estate 'option agreement' requires the optionor (seller) to keep the offer open for the option period. The consideration paid for the option:
- In NH, a 'land lease' or 'ground lease' arrangement differs from a traditional real estate purchase because:
- A NH purchase agreement clause states 'time is of the essence with respect to the closing date of June 15.' If the buyer is ready to close but the seller requests a 2-day extension, the buyer may:
- A NH seller's counteroffer changes the closing date and the price but accepts all other terms of the buyer's offer. Legally, this counteroffer:
- A NH seller's listing agreement that has not yet expired but the seller wants to cancel. The seller's ability to cancel depends on:
- In NH, a 'lease with option to purchase' gives the tenant-buyer:
Agency
133 questions- In New Hampshire, which form is required to disclose agency relationships to buyers and sellers?
- A New Hampshire listing agent represents the seller. When a buyer without a buyer's agent contacts the listing agent, the listing agent may:
- Which duty does a New Hampshire buyer's agent owe ONLY to the buyer and not to third parties?
- In New Hampshire, a buyer and seller who are both clients of the same brokerage but represented by different agents within that brokerage involves:
- What is sub-agency in a real estate transaction?
- If a New Hampshire agent learns that their buyer client intends to use the property for an illegal purpose, the agent should:
- In New Hampshire, written buyer agency agreements are:
- An agent who represents neither the buyer nor the seller but assists both parties in completing a transaction is called a:
- Which of the following best describes 'informed consent' in the context of New Hampshire dual agency?
- An agent's duty of 'accounting' requires the agent to:
- A seller's agent in New Hampshire must disclose to a prospective buyer:
- When does a real estate agency relationship typically terminate?
- The concept of 'vicarious liability' means that in New Hampshire:
- An agent who, without the client's knowledge, purchases a listing for their own account violates which fiduciary duty?
- In New Hampshire, the 'first meaningful contact' disclosure rule means an agent must disclose agency options:
- Which of the following is NOT a fiduciary duty owed by an agent to their client?
- In New Hampshire, a buyer's agent owes which fiduciary duties to the buyer?
- Dual agency in New Hampshire occurs when:
- A New Hampshire licensee acting as a transaction broker (facilitator) owes the parties:
- Which statement best describes a sub-agent in New Hampshire?
- A New Hampshire seller's agent discovers that the basement floods every spring. The agent must:
- When does an agency relationship in New Hampshire typically terminate?
- An agent who places personal financial interests above the client's interests violates the duty of:
- In New Hampshire, designated agency allows:
- A New Hampshire buyer's agent who fails to inform a buyer about comparable sales prices in the area has likely violated the duty of:
- Which document in New Hampshire formally establishes a buyer agency relationship?
- A New Hampshire seller's agent who learns that the seller is financially desperate and must sell quickly should:
- In New Hampshire, an undisclosed dual agency is:
- The duty of accounting in a real estate agency relationship requires the agent to:
- When a buyer's agent presents an offer to a seller's agent in New Hampshire, the seller's agent must:
- A New Hampshire buyer's broker who is aware that the buyer wants to pay no more than $350,000 but the asking price is $375,000 should:
- A buyer's agent in New Hampshire who discovers a material defect unknown to the seller must:
- An agent's duty of obedience requires the agent to:
- In New Hampshire, an agent may represent a buyer as a customer (non-client) rather than a client. As a customer, the buyer receives:
- If a NH buyer's broker receives a referral fee from a mortgage lender for steering the buyer to that lender without disclosing it, this violates:
- A NH seller's agent who has information that the buyer is planning to subdivide the property after purchase should:
- A New Hampshire listing agent who represents the seller should NOT:
- In New Hampshire, when a salesperson moves from one broker to another, the listing agreements:
- A NH buyer's agent discovers the seller is planning to build a highway next to the subject property. The agent must:
- When a NH buyer's agent prepares a buyer's estimated closing costs worksheet, the agent is fulfilling which duty?
- A NH buyer's agent who is also a licensed appraiser tells the buyer the property is worth $50,000 more than the asking price. This advice:
- A New Hampshire buyer's broker receives a commission from the seller's proceeds at closing. This is:
- A NH listing agent who tells a prospective buyer the seller's minimum acceptable price is:
- Puffing in real estate advertising refers to:
- A NH buyer's broker who knows the seller has accepted another offer but continues showing the property to a backup buyer is:
- A NH seller instructs their agent to tell buyers the roof is new when the agent knows it is 10 years old. The agent should:
- A NH salesperson who advertises 'I work for you, not the seller!' without disclosing that they are in fact a seller's agent is engaged in:
- The procuring cause rule determines which NH broker is entitled to a commission when:
- A NH real estate agent discovers that the property they are listing has foundation issues not disclosed by the seller. The agent should:
- An agent in NH who helps a buyer write a fraudulently low offer letter to deceive the seller could be guilty of:
- A NH real estate agent who represents a buyer in an area where the agent personally owns investment properties must:
- A NH broker is entitled to a commission when they have been the procuring cause of a sale. Procuring cause means:
- A NH buyer's agent who negotiates a repair credit on behalf of the buyer after a home inspection is exercising the duty of:
- A NH listing agent who receives multiple offers must present them to the seller:
- A NH buyer's agent who advises their client to make a lower offer because the agent believes the seller will accept it is exercising:
- A NH agent who learns their buyer client is under criminal investigation should:
- A NH buyer's agent who is simultaneously the listing agent for a property the buyer wants to purchase should:
- A NH seller's agent who recommends that the seller accept a lower offer from a cash buyer over a higher financed offer is:
- When a NH licensee acts as an agent, the principal-agent relationship imposes which common law duties on the agent?
- A NH buyer's agent discovers during a showing that the property has significant water damage hidden behind fresh paint. The agent should:
- In NH, a single agent (as opposed to a dual agent) represents:
- A NH seller's agent who accepts earnest money from the buyer on the seller's behalf must:
- A NH listing agent who obtains a listing at an unrealistically high price to 'buy' the listing has engaged in:
- A NH buyer's agent who provides the buyer with a list of recommended attorneys for the closing is:
- A NH agent who represents a buyer in purchasing an investment property should disclose to the buyer:
- When a NH agent acts outside the scope of their authority (e.g., agreeing to extend the closing date without client authorization), the resulting action is:
- A NH agent who is also a licensed mortgage broker should disclose this dual role to a buyer client because:
- A NH buyer's agent and their client have a dispute about which property to offer on. Who has the final decision?
- A NH listing agent presents an offer from a buyer who is a close friend of the agent's spouse. The agent should:
- A NH agent who is marketing a property must avoid making statements about the racial or ethnic composition of the surrounding neighborhood because:
- A NH real estate agent's primary obligation when representing a seller is to:
- A NH buyer's broker who learns during the transaction that the seller is going through a divorce and is under financial pressure must:
- A NH licensee who receives a referral fee from an out-of-state broker for referring a NH client must:
- A NH agent who helps a buyer find a rental property (not for sale) is:
- A NH property manager who also acts as the leasing agent for units in the managed building is:
- A NH buyer's broker who discovers that a property has been the site of a homicide should:
- A NH seller's agent who knows the property is in a flood zone but doesn't mention it to prospective buyers is committing:
- A NH real estate agent's duty to their client terminates in all of the following EXCEPT:
- A NH real estate agent who gives a buyer client specific legal advice about how to take title to minimize estate taxes is likely:
- A NH buyer's agent who fails to recommend a professional home inspection to a buyer purchasing a 60-year-old colonial has likely breached the duty of:
- A NH listing agent who receives a very low offer on a property should:
- In a NH buyer's agent scenario, when the buyer asks the agent 'What's the lowest amount the seller will accept?', the agent should respond:
- A NH buyer's agent should explain to a buyer client that an earnest money deposit serves to:
- In NH, a real estate 'team' within a brokerage operates such that commissions earned by team members:
- A NH seller's agent who is also a licensed contractor and offers to do repairs on the property they are listing has a:
- A NH listing agent's duty to disclose known property defects extends to:
- A NH buyer's agent who tells the seller 'My buyer is in a difficult divorce and needs to move quickly' is:
- A NH buyer's agent who receives a bonus from the seller (in addition to the stated commission) for bringing a full-price offer must:
- A NH seller's agent who knows the buyer has already exceeded their stated price limit has what duty?
- In NH, a real estate agent who acts beyond their authority (e.g., accepting an offer on behalf of a seller without authorization) may be personally liable under the doctrine of:
- A NH broker who is the designated agent for the seller in a transaction where their brokerage firm also represents the buyer has arranged:
- A NH real estate agent's reasonable care duty requires them to stay current on:
- A NH listing broker discovers that the buyer's agent works for the same brokerage. Under NH agency law, this situation is known as:
- When a NH buyer's agent learns that the seller has disclosed material defects in the property, the agent's duty to the buyer includes:
- A NH seller's agent who learns the seller is going through a divorce and is 'desperate to sell quickly' should:
- A NH buyer's representative agreement creates which type of agency relationship?
- When a NH listing agent provides information about mortgage lenders to a buyer, the agent is most appropriately acting as:
- NH law requires real estate licensees to disclose agency relationships to all parties in a transaction. When must this disclosure first occur?
- In NH, a transaction broker (non-agent facilitator) owes which of the following to both buyer and seller?
- A NH broker's failure to properly supervise a salesperson who commits fraud in a transaction may result in:
- A NH real estate agent shows a buyer a property and the buyer makes an offer. The seller accepts. The agent then tells the seller the buyer would have paid more. This violates the agent's duty of:
- Under NH agency law, the duty of 'obedience' requires a real estate agent to:
- A NH real estate agent who acts as a 'subagent' of the seller owes their primary fiduciary duties to:
- A NH buyer's agent discovers a material defect in the property that the seller has not disclosed. The agent should:
- A NH buyer's agent who receives a referral fee from a home inspector for recommending the inspector to clients must:
- When a NH buyer's agent presents an offer that is rejected by the seller, the agent's duty to the buyer includes:
- A NH listing agent who tells prospective buyers 'the seller will accept $20,000 less than the list price' without the seller's permission has:
- A NH buyer's agent who has a pre-existing personal relationship with the seller must:
- A NH real estate broker who represents both the buyer and the seller in the same transaction without proper disclosure and consent is guilty of:
- A NH real estate agent who discovers the seller has concealed a material defect (such as a hidden flooding issue) has which duty?
- Which of the following best describes the difference between a 'general agent' and a 'special agent' in NH real estate?
- A NH seller's listing agent receives an offer from an unrepresented buyer (no buyer's agent). The listing agent's duties to the unrepresented buyer are:
- A NH real estate agent learns that the property they are listing is in foreclosure proceedings. The agent's duty is to:
- A NH seller asks their listing agent to tell buyers there is 'nothing wrong with the property' even though the agent knows the property has a history of flooding. The agent should:
- A NH buyer's agent has the buyer's written authority to negotiate on their behalf. During negotiations, the agent can:
- Under NH agency law, a 'gratuitous agent' (one who acts without compensation) owes:
- A NH agent's duty of 'reasonable care' requires the agent to:
- A NH real estate salesperson who obtains listings and conducts business in their own name without disclosing affiliation with a licensed broker is:
- A NH listing agent who receives multiple offers simultaneously should advise the seller to:
- In NH, when an agency relationship is terminated by the principal's death, the agent must:
- A NH buyer's agent discovers that the seller has received two prior offers on the property. The agent may:
- A NH seller's agent who learns that the buyer has a higher budget than revealed in their offer should:
- A NH real estate agent who represents a buyer in the purchase of a commercial property should advise the buyer to:
- When a NH listing agent presents a buyer's offer containing false information about the buyer's financial qualifications, the agent's duty of honesty to the seller requires:
- A NH buyer's agent who presents a counteroffer from the seller to their buyer client must:
- A NH buyer's agent who has a financial interest in the property being shown to the buyer (e.g., the agent's family owns a stake in the property) must:
- A NH buyer tells their agent that they are willing to pay up to $420,000 for a property listed at $395,000. The agent should:
- A NH seller's agent who receives an offer on a property that has not yet been entered into the MLS because the seller requested delay must:
- In NH, an 'implied agency' can be created when:
- A NH buyer's agent who successfully closes a transaction earns their commission from:
- A NH listing agent who is also a licensed attorney may provide legal advice to the seller regarding the transaction. However, the agent should be aware that:
- A NH buyer's agent who also helps the buyer sell their current home (as listing agent) must:
- A NH real estate transaction closes successfully and the parties are satisfied. When does the listing agent's fiduciary duty to the seller formally end?
Real Estate Math
127 questions- New Hampshire's real estate transfer tax is $0.75 per $100 of purchase price, paid by each party. For a $350,000 sale, what does each party (buyer and seller) pay?
- A buyer wants to make an offer that gives the seller a net of $265,000 after paying a 5% commission. What should the offer price be?
- A property is assessed at $240,000 at a rate of 90% of market value. The property tax rate is $18 per $1,000 of assessed value. What are the annual taxes?
- An investor buys a duplex for $320,000 and rents each unit for $1,200/month. What is the annual gross rent multiplier (GRM)?
- A property sells for $425,000. The selling agent earns a 3% commission split. What is the selling agent's commission?
- A rectangular lot measures 150 feet by 200 feet. How many acres is the lot?
- A borrower takes out a $280,000 mortgage at 6.5% annual interest. What is the first month's interest payment?
- An appraiser determines that a property generates $36,000 in NOI annually and applies a 7.5% cap rate. What is the estimated value?
- A buyer puts 20% down on a $310,000 home. What is the loan amount?
- A salesperson earns 60% of the total 5% commission on a $380,000 sale. How much does the salesperson earn?
- A property's assessed value is $180,000 and is assessed at 85% of market value. What is the estimated market value?
- A listing agreement calls for a 6% commission on a $490,000 sale. The listing and selling brokers split the commission 50/50. How much does the listing broker receive?
- An investor purchases a $500,000 commercial property with a 25% down payment. The lender requires a loan-to-value ratio no greater than 75%. How large is the mortgage?
- A property's market value is $340,000. Property taxes are $6,800 per year. What is the tax rate per $1,000 of assessed value (assuming assessed at 100% of market value)?
- A New Hampshire home sold for $420,000. The total Real Estate Transfer Tax paid was:
- A salesperson earns a 6% commission on a $275,000 sale. The salesperson's broker takes 40% of the commission. How much does the salesperson receive?
- A property in Nashua has an assessed value of $380,000 and the town's mill rate is 20 mills. What is the annual property tax?
- A buyer in New Hampshire purchases a home for $310,000 with a 5% down payment. What is the loan amount?
- A rectangular lot measures 150 feet by 200 feet. What is the lot size in acres? (1 acre = 43,560 sq ft)
- A broker lists a property for $450,000 and agrees to a 5.5% commission. The property sells for $440,000. What is the broker's commission?
- An investor buys a Manchester duplex for $320,000 with 25% down. The monthly mortgage payment is $1,450. The property generates $2,800/month gross rent. What is the monthly cash flow before taxes and maintenance?
- A seller nets $285,000 after paying a 5% commission on the sale. What was the sale price?
- A property's NOI is $36,000 and the cap rate is 8%. What is the indicated value using the income approach?
- A buyer's loan-to-value ratio is 80% on a $375,000 purchase. How much did the buyer put down?
- A Concord home's assessed value is $295,000 and the equalization ratio is 95%. What is the estimated market value?
- A broker charges a 6% commission. The seller nets $376,400 after the commission. What was the sale price?
- A property generates $4,500/month in gross rent. The annual operating expense ratio is 35%. What is the annual NOI?
- A NH buyer puts down $52,500 on a property with an 87.5% LTV. What was the purchase price?
- A NH property's market value is $480,000. The assessed value is 100% of market. The tax rate is 18 mills. What is the monthly tax escrow payment?
- An investor purchases a rental property for $225,000. After 5 years the property is worth $270,000. What is the percentage appreciation?
- A property sells for $330,000. The NH Real Estate Transfer Tax portion owed by the buyer is:
- A listing broker and selling broker split a 5% commission equally on a $260,000 sale. How much does each broker receive?
- A seller received $248,100 after paying a 5.5% commission and $2,900 in other closing costs. What was the sale price?
- A property depreciates at a straight-line rate over 27.5 years for tax purposes. If the building value is $220,000, what is the annual depreciation deduction?
- A buyer in New Hampshire obtains a $280,000 mortgage at 7% annual interest. What is the first month's interest payment?
- A property in Keene, NH sells for $242,000. The buyer pays their share of the NH Real Estate Transfer Tax. How much does the buyer owe?
- A salesperson's annual income is $72,000 from commissions. Their brokerage pays them 60% of the total commission on each sale. What was the total commission volume on which they were paid?
- A NH home listed at $359,000 sells for 97% of the listing price. The broker earns 5.5% of the sale price. What is the broker's commission?
- A Manchester, NH investor purchases a 4-unit apartment building for $520,000. Each unit rents for $1,100/month. What is the Gross Rent Multiplier (GRM)?
- A NH home has a gross potential income of $24,000/year, a 5% vacancy rate, and operating expenses of $8,000. What is the NOI?
- A NH property costs $185,000. The buyer puts down 20% and finances the rest at 7.5% for 30 years. What is the approximate monthly PI payment? (Use factor of $6.99 per $1,000)
- A NH seller listed their home at $425,000. After reducing the price by 4%, they received a full-price offer on the reduced listing. The buyer and seller each pay their share of the transfer tax. What is each party's transfer tax?
- A NH property had a listing price of $289,000. It sold for $275,500. What is the sale-to-list ratio?
- An investor buys a NH rental property for $180,000. Annual NOI is $14,400. What is the cap rate?
- A NH investor wants a 9% cap rate on a property with annual NOI of $27,000. What is the maximum price to pay?
- A NH home assessment of $320,000 has an equalization ratio of 85%. What is the estimated market value?
- A rectangular parcel measures 220 feet wide and 330 feet deep. How many acres does it contain? (1 acre = 43,560 sq ft)
- A NH condominium association charges monthly fees of $325. Annually, how much does a unit owner pay in assessments?
- A NH listing sells for $395,000 with a 5% commission. The listing broker and buyer's broker split the commission equally. The listing salesperson earns 55% of the listing side. What does the listing salesperson earn?
- A NH income property has a 92% occupancy rate and 60 total units renting at $950/month. What is the effective gross monthly income?
- A NH seller needs to net $280,000 after paying a 6% commission and $3,000 in closing costs. What is the minimum sale price?
- A NH buyer's monthly PITI payment is $2,150. If the lender uses a 28% front-end ratio, what is the minimum gross monthly income required?
- A NH property has 3,200 sq ft of living area. A comparable sold for $185/sq ft. The adjusted comparable value is:
- A NH property was purchased for $240,000. After 8 years at 4% annual appreciation, what is the approximate value?
- A NH listing agent earns 3% of the sale price and the buyer's agent earns 2.5%. The property sells for $365,000. What does the listing agent earn?
- A NH duplex rents each unit at $1,350/month. Annual operating expenses are $11,200. What is the annual NOI?
- A NH property sells for $290,000. The buyer puts down 15%. The mortgage origination fee is 1% of the loan amount. What is the origination fee?
- A NH property's tax bill is $7,200/year. The assessment is 100% of market value. The mill rate is 16 mills. What is the assessed (market) value?
- A NH property investor uses a gross rent multiplier of 10. If the monthly gross rent is $2,500, what is the estimated property value?
- A NH property management company charges 10% of collected rent. In a month with $18,500 in collected rent, the management fee is:
- A NH property's potential annual rental income is $36,000. Vacancy and collection loss is 8%. Operating expenses are $12,000. What is the NOI?
- A NH buyer puts 25% down on a $340,000 home. At closing, the buyer also pays 1.5 discount points. What is the total dollar amount of the points paid?
- A NH home's assessed value is $250,000. The town's equalization ratio is 110% (property is over-assessed). What is the estimated market value?
- An investor purchased a NH rental property for $200,000 and sold it five years later for $255,000. What was the total dollar appreciation and percentage gain?
- A NH property sells for $410,000. The broker's total commission is 5.5%. The listing broker and buyer's broker split it 60/40. How much does the buyer's broker receive?
- A NH seller paid $195,000 for a home 10 years ago. Today's value is $310,000. What is the total appreciation in dollars and as a percentage?
- A NH commercial property with 8,500 sq ft rents at $18/sq ft/year (NNN). What is the annual base rent?
- A NH buyer finances $320,000 at 6.5% for 30 years. Using a monthly payment factor of $6.32 per $1,000, what is the approximate monthly PI payment?
- A NH property has 200 feet of road frontage and a depth of 400 feet. At $12,000 per acre, what is the land value? (1 acre = 43,560 sq ft)
- A NH property rents for $1,800/month. The gross rent multiplier is 115. What is the estimated property value?
- A NH buyer pays $355,000 for a home. The NH transfer tax is $1.50/$100. What is the TOTAL transfer tax paid by both buyer and seller combined?
- A NH property has a $3,200/month gross rent and 10% vacancy. Annual operating expenses are $9,800. At a 7% cap rate, what is the indicated value?
- A NH seller needs to net $340,000. They owe $185,000 on their mortgage and expect $6,000 in closing costs plus a 5% commission. What is the minimum sale price?
- A NH investor buys a property for $400,000, puts down 30%, and finances the rest at 7% annual interest-only. What is the annual interest payment?
- A NH investor purchases a small office building for $750,000 with 30% down. The bank requires a minimum DSCR of 1.20. If annual debt service is $42,000, what minimum NOI must the property generate?
- A NH property sells for $487,000. Each party pays their $0.75/$100 transfer tax. What does the seller pay?
- A NH apartment building has 12 units, each renting at $1,100/month. The expense ratio is 40%. At an 8.5% cap rate, what is the estimated value?
- A NH buyer takes an FHA loan. The purchase price is $280,000. The upfront MIP is 1.75%. What is the upfront MIP amount?
- A NH property generates $52,000 in annual gross rent. The GRM for the market is 12.5 (annual). What is the indicated property value?
- A NH property has a tax assessment of $410,000 and the mill rate is 22.5 mills. What is the annual property tax?
- A NH couple earns a combined gross income of $8,500/month. At a 36% back-end DTI, what is their maximum monthly total debt allowance?
- A NH buyer is charged a 1.5% origination fee on a $290,000 loan, plus $450 in processing fees and $250 in underwriting fees. What are the total lender fees?
- A NH seller receives $318,000 net after paying a 5% commission. What was the original sale price?
- A NH investor puts 20% down on a $550,000 apartment building. What is the equity at purchase?
- A NH property's assessed value is $380,000 and the mil rate is 18.4 mills. What is the semi-annual property tax installment?
- A NH investor buys a $425,000 building with a $100,000 renovation budget, then sells it for $575,000 after 18 months. What is the gross profit?
- A NH building costs $1.2 million to replace. It is 25 years old with a 50-year economic life. What is the total physical depreciation using the age-life method?
- A NH buyer is offered two loan options: Option A — $280,000 at 7%, 30-year fixed. Option B — $280,000 at 6.5%, 30-year fixed with 2 points. One point = $2,800. How much extra upfront do they pay for Option B?
- A NH seller closes on April 30. Annual property taxes of $8,400 (paid in December for the full year) have been prepaid. How much does the seller receive as a credit?
- A NH buyer finances $265,000 at 6.75% annual interest. What is the interest due for the first 15 days of ownership (daily interest)?
- A NH buyer finances $320,000 at 7% for 30 years. If 40% of the first monthly payment is applied to principal, how much goes to principal?
- A NH property has an assessed value of $280,000 and a tax rate of $22 per $1,000 of assessed value. What is the annual property tax?
- A NH investment property generates $4,200/month in rent. Annual operating expenses are $8,400. If the cap rate is 7%, what is the property's estimated value?
- A NH broker charges a 5% commission on a $480,000 sale. The broker splits the commission 60/40 with the selling agent. How much does the selling agent earn?
- A NH property originally purchased for $275,000 sold for $340,000 after 4 years. What was the total percentage gain in value?
- A NH buyer puts 20% down on a $425,000 home and finances the balance. What is the loan-to-value ratio?
- A NH commercial property leases space at $18 per square foot per year. The tenant leases 2,400 square feet. What is the monthly rent?
- A NH seller nets $312,000 after paying a 5% commission and $8,500 in closing costs. What was the approximate sale price?
- A NH seller's adjusted basis in a property is $180,000. They sell it for $295,000. After paying $17,700 in commissions and $3,200 in closing costs, what is the seller's capital gain?
- A NH property's market value is $385,000. The town assesses it at 85% of market value. The tax rate is $18.50 per $1,000 of assessed value. What is the annual tax?
- A NH buyer finances $280,000 at 6.5% annual interest. What is the first month's interest payment?
- A NH investor purchases a property for $450,000 and takes out a mortgage for 75% of the value. What is the loan amount?
- A NH seller's listing price is $459,000. After negotiation, the final sale price is $448,000. What percentage of the list price did the property sell for?
- A NH duplex generates $1,800/month per unit. Annual operating expenses total $14,400. What is the annual net operating income (NOI)?
- A NH property closes on March 15. Annual property taxes of $6,000 have been paid by the seller for the full year (January 1–December 31). How much does the buyer owe the seller for the tax proration at closing?
- A NH investor wants a 9% return on a $500,000 investment. What annual net operating income must the property produce?
- A NH seller accepts an offer of $392,000. The commission is 5% and the seller also pays $4,800 in closing costs. What is the seller's net proceeds?
- At a NH closing, the seller has prepaid property taxes of $7,200 for the full year. The closing occurs on September 1. How much does the buyer owe the seller for the tax proration? (Assume 360-day year, 30 days per month)
- A NH building has 8 units renting at $1,100/month each. Annual operating expenses are $32,000. The cap rate is 8%. What is the estimated property value?
- A NH buyer makes an offer of $355,000 on a home listed at $379,000. The seller accepts a counteroffer of $365,000. The listing broker's 6% commission is based on the actual sale price. What commission does the listing broker earn?
- A NH buyer's total closing costs are $11,400, which equals 3% of the purchase price. What is the purchase price?
- A NH landlord receives first month's rent of $1,650, last month's rent of $1,650, and a security deposit of $1,650 at move-in. What is the total amount collected?
- A NH home sold for $398,000. The sales price was 105% of its appraised value. What was the appraised value?
- A NH buyer's monthly mortgage payment (P&I only) on a $250,000 loan at 7% for 30 years is approximately $1,663. How much of the first payment goes toward interest?
- A NH property's gross annual rent is $54,000. A comparable sale with a gross annual rent of $48,000 sold for $576,000. Using the GRM method, what is the estimated value of the subject property?
- A NH property has 120 feet of frontage on a lake. Similar lakefront properties sell at a premium of $1,200 per linear foot of frontage over inland properties. What additional value does the lake frontage represent?
- A NH seller's home has been on the market for 120 days. Days on market (DOM) is calculated from the date the property was listed in the MLS to the date it received an accepted offer. If listed June 1 and accepted October 28, what is the DOM?
- A NH listing shows a price per square foot of $215 for a 2,200 square foot home. What is the list price?
- A NH agent earns a 3% buyer's agent commission on a $415,000 sale. The agent's brokerage retains 30% and the agent keeps 70%. How much does the agent earn?
- A NH investor is evaluating a property with an asking price of $895,000 and annual NOI of $72,000. What cap rate does this represent?
- A NH property's assessed value is $310,000 and it has a tax rate of $23.50 per $1,000. If taxes are paid quarterly, what is each quarterly payment?
- A NH property has a gross income multiplier (GIM) of 9 and generates $78,000 in gross annual income. What is the estimated property value?
- A NH property rents for $1,950/month. Over 12 months, the property has 6 weeks of vacancy. What is the effective gross income for the year?
- A NH home that sold for $425,000 requires the buyer and seller to each pay the NH Real Estate Transfer Tax. What is each party's tax obligation?
- A NH buyer puts $55,000 down on a $275,000 home. What is the LTV ratio and will the buyer need PMI on a conventional loan?
- A NH investor purchased a rental property for $350,000 and puts 25% down. The monthly P&I payment on the remaining balance at 6.75% for 30 years is approximately $1,706. What is the annual debt service?
- A NH property manager receives a management fee of 8% on collected rents. The property has 5 units at $1,400/month each with a 3% vacancy rate. What is the annual management fee?
Property Ownership
126 questions- In New Hampshire, the dominant estate in an easement appurtenant is:
- A riparian rights state like New Hampshire means that landowners:
- A condominium owner in New Hampshire holds:
- Which of the following is an example of real property?
- A deed restriction prohibiting commercial use of a residential property is an example of a:
- Under New Hampshire law, adverse possession requires continuous, open, hostile, actual, and exclusive use of land for:
- Which form of co-ownership requires all owners to have equal shares and includes a right of survivorship?
- Tenancy by the entirety in New Hampshire is available only to:
- An easement created by prescription is similar to adverse possession in that it requires:
- The bundle of rights associated with real property ownership includes all of the following EXCEPT:
- Which of the following is an appurtenance that runs with the land in New Hampshire?
- A life estate in New Hampshire gives the life tenant the right to:
- A mechanic's lien in New Hampshire is filed by:
- In New Hampshire, which of the following best describes a 'fee simple absolute' ownership?
- What type of lien takes priority over all other liens, including first mortgages, in New Hampshire?
- Two unmarried individuals in New Hampshire purchase a property and each want their interest to pass to their heirs upon death. The best form of co-ownership is:
- In New Hampshire, joint tenancy requires which four unities?
- Which form of property ownership is available ONLY to legally married couples in New Hampshire?
- A fee simple absolute estate in New Hampshire is best described as:
- A life estate in New Hampshire grants the life tenant the right to:
- An easement appurtenant in New Hampshire runs with the land, meaning it:
- New Hampshire uses which system to describe land for legal purposes?
- Which of the following is considered real property in New Hampshire?
- Adverse possession in New Hampshire requires the claimant's use to be:
- A covenant running with the land in New Hampshire is enforceable by:
- Police power in New Hampshire enables the government to regulate land use through:
- Riparian rights in New Hampshire give a property owner bordering a natural stream the right to:
- A deed restriction in New Hampshire that violates the Fair Housing Act is:
- In New Hampshire, a prescriptive easement is acquired by:
- When a New Hampshire property is held in a trust, the trustee holds:
- When a New Hampshire property owner dies intestate (without a will), their real property passes to heirs through:
- A New Hampshire homeowner's right to use their property is limited by all of the following EXCEPT:
- A New Hampshire condominium owner holds:
- New Hampshire's Current Use taxation program allows landowners to:
- New Hampshire's 'Bundle of Rights' for real property ownership includes the rights to:
- An easement in gross in New Hampshire is an easement that:
- A New Hampshire time-share interest conveys:
- A New Hampshire homestead exemption protects:
- Escheat in New Hampshire occurs when:
- New Hampshire allows landlocked parcels access through:
- New Hampshire does NOT have community property law, meaning:
- A New Hampshire property owner's right to exclude others from their property is best protected by:
- The term 'air rights' in NH real estate refers to:
- Mineral rights in New Hampshire may be:
- Littoral rights in New Hampshire apply to property owners bordering:
- Subsurface rights in New Hampshire are important for property owners considering:
- A conservation restriction (easement) on a NH property that runs with the land means:
- A NH cooperative (co-op) housing owner holds:
- A New Hampshire property owner builds a fence 2 feet inside their property line. Over time, a neighbor relies on the fence as the true boundary. This may create a:
- A NH property subject to a use restriction that 'runs with the land' in the deed means:
- New Hampshire's doctrine of 'ancient lights' (prescriptive easement for light and air) is:
- In New Hampshire, a right-of-way is a type of:
- In New Hampshire, water rights to a private pond located entirely within one property owner's land belong to:
- In NH, 'tenancy at sufferance' arises when:
- NH's Current Use taxation penalty (land use change tax) is triggered when:
- A NH property owner who allows a utility company to run power lines across their property under an easement retains:
- In NH, a property owner's right to develop their land is subject to which governmental power?
- A New Hampshire property deed that contains the phrase 'and his heirs' refers to:
- NH's Condominium Act (RSA 356-B) governs:
- In NH, accretion refers to:
- A NH homeowner who installs a permanent hot tub with plumbing connections has likely created:
- A license to use another's property in New Hampshire differs from an easement in that a license:
- New Hampshire's 'flag lot' typically describes:
- A NH landowner who discovers their neighbor's driveway encroaches 18 inches onto their property should:
- A NH cemetery lot purchaser typically holds:
- In NH, the term 'appurtenance' refers to:
- The right of partition in a NH tenancy in common allows any co-owner to:
- In NH, a general power of attorney gives the attorney-in-fact (agent) the authority to:
- A NH property owner's deed mentions a 'right of first refusal.' This means:
- In NH, the owner of a dominant tenement in an easement relationship has the right to:
- NH's Marketable Record Title Act (MRTA) limits the period for which old title claims can be asserted by:
- When a NH property owner 'encumbers' their property, they are:
- A NH mobile home park tenant who owns their home but rents the land beneath it holds a:
- A NH deed from a grantor to 'A and B as joint tenants' is later transferred by A alone to C. The result is:
- A NH property owner who installs a fence clearly on their own land, intending to keep the neighbor's animals out, is exercising the property right of:
- NH's Mobile Home Park Act (RSA 205-A) provides park residents with protection regarding:
- A NH seller who provides a general warranty deed is making which covenants to the buyer?
- A 'plat' in New Hampshire real estate is:
- In NH, the recording of a deed is important because it provides:
- In New Hampshire, fee simple determinable ownership reverts to the grantor if:
- A NH property owner who grants an easement to a neighbor for a private driveway retains ownership of the land but gives the neighbor:
- A New Hampshire property owner who dedicates a portion of their land to the public for use as a road creates a:
- In NH, when personal property becomes permanently attached to real property, it is legally called a:
- NH's housing market features a large proportion of single-family homes. When a buyer purchases such a home, they typically receive a deed conveying:
- A NH property's mortgage creates which type of lien?
- A NH property that passes through a will to named beneficiaries is said to pass by:
- A NH property encumbered by a lis pendens cannot be:
- A NH commercial property owner who leases space to a tenant for 20 years still retains:
- A NH property owner who voluntarily places their land in an 'open space' conservation easement will see the land's development value reduced, but may receive:
- A NH real property owner's 'bundle of rights' includes all of the following EXCEPT:
- Under NH RSA 477, a deed conveying real property must be recorded in which office to provide constructive notice to the public?
- A NH married couple purchases property using only the husband's funds and places it in the wife's name alone. In NH, this creates:
- A NH property owner grants an easement allowing a neighbor to use a path across the property for access to a lake. When the property is sold, this easement:
- A NH property owner who holds a life estate may:
- In New Hampshire, a boundary dispute between neighboring landowners over the location of a property line is typically resolved by:
- In NH, a property owner who 'dedicates' a road to the town or city is:
- A NH property owner installs a new fence that encroaches 2 feet onto a neighbor's property. Over time, this encroachment could ripen into an adverse possession claim if:
- A condominium owner in a NH condominium development owns:
- A NH property owner who dies without a will (intestate) leaves behind a spouse and two adult children. Under NH intestacy laws, the estate will be distributed:
- Under NH law, which type of deed provides the LEAST protection to a buyer?
- A NH homeowner's association (HOA) has the right to place a lien on a unit owner's property for:
- In New Hampshire, a 'prescriptive easement' may be established when someone uses another's land:
- Under NH law, 'tenancy by the entirety' is a form of joint ownership available exclusively to:
- A NH property owner grants a 'right of first refusal' to a neighbor. This gives the neighbor:
- A NH property owner wants to give their adult child the family home as a gift. The most appropriate way to transfer the property is by:
- Under NH law, a 'fee simple absolute' estate is best described as:
- In NH, a 'covenant running with the land' binds:
- A NH property is held in a revocable living trust. When the property is sold, who has authority to sign the deed?
- In NH, a 'fee simple subject to a condition subsequent' differs from a 'fee simple absolute' in that:
- A NH landowner's property is condemned by the state to build a new highway. This is an exercise of the government's power of:
- In NH, a 'deed restriction' that prohibits commercial use of a residential property is:
- In NH, when a person dies leaving a valid will, the estate is distributed through:
- A NH property owner wants to prevent future owners from building any structure over 25 feet tall on the property. This restriction can be accomplished by including it in:
- A NH property subject to a 'conservation easement' held by a land trust means:
- A NH buyer purchases a property using a contract for deed (installment land contract). Under this arrangement:
- In NH, a 'riparian rights' owner (property bordering a river or stream) typically has the right to:
- A NH property owner's fence is found to encroach 18 inches onto the neighbor's property. The neighbor sues for removal. In NH, the court would likely consider:
- Under NH law, which of the following is an 'appurtenance' to real property?
- A NH developer builds a subdivision and records 'CC&Rs' (Covenants, Conditions, and Restrictions) with the plat. These CC&Rs:
- A NH property owner donates their farm to a land trust, retaining a life estate for themselves. Upon the owner's death, the property will:
- A NH homeowner's association's ability to foreclose on a member's unit for unpaid assessments is derived from:
- A NH property owner grants a neighbor a 'license' to use their driveway for access. Unlike an easement, a license:
- A NH property owner who builds a structure partially on an adjacent vacant lot without the neighbor's permission creates an:
- A NH property owner's deed contains the phrase 'to have and to hold.' This phrase is known as the:
- In NH, 'lateral support' rights mean that a property owner is entitled to:
- In New Hampshire, a 'declaration of homestead' provides:
Property Valuation
123 questions- When a real estate agent prepares a comparative market analysis (CMA), the agent is providing:
- Which principle of value states that the value of a lesser property is pulled up by surrounding superior properties?
- In an appraisal, reconciliation is the process of:
- The principle of anticipation holds that a property's value is based on:
- In the income approach to value, the capitalization rate is used to:
- When using the sales comparison approach, an appraiser makes adjustments to comparable sales. If a comparable has an extra full bathroom that the subject property lacks, the appraiser will:
- Which type of depreciation in an appraisal is considered incurable because the cost to cure exceeds the value added?
- A property's estimated value using the cost approach would be calculated as:
- External (economic) obsolescence in real estate valuation is caused by:
- The principle of substitution states that:
- What does 'effective age' mean in a real estate appraisal?
- Which valuation approach is MOST appropriate for appraising a single-family owner-occupied home?
- Net operating income (NOI) for an investment property is calculated as:
- Which of the following would be classified as functional obsolescence in a property appraisal?
- The appraisal approach most commonly used for valuing single-family homes in New Hampshire's Manchester and Nashua markets is:
- Functional obsolescence in a New Hampshire property is best exemplified by:
- External (economic) obsolescence affecting a New Hampshire property is BEST illustrated by:
- The income capitalization approach divides net operating income by the capitalization rate to arrive at:
- Assessed value in New Hampshire municipalities is typically set at:
- The principle of substitution states that a buyer will not pay more for a property than:
- When appraising a seasonal vacation cabin in New Hampshire's Lakes Region, an appraiser would most likely rely on:
- An appraisal adjustment for a superior comparable sale (a comp that is better than the subject) results in:
- Highest and best use in New Hampshire appraisal practice means the use that is:
- A comparative market analysis (CMA) in New Hampshire is prepared by:
- The cost approach to value is most reliable when appraising:
- Effective age in real estate appraisal refers to:
- The gross rent multiplier (GRM) is calculated by:
- An appraiser preparing a URAR (Uniform Residential Appraisal Report) for a Concord, NH single-family home is required to certify that they:
- Regression and progression are appraisal principles stating that:
- Paired sales analysis in appraising is used to:
- The principle of conformity in real estate appraisal holds that:
- An appraiser reconciles the three approaches to value by:
- Depreciation in the cost approach includes which three categories?
- In New Hampshire, the value of a lakefront property relative to a similar inland property reflects which appraisal concept?
- The White Mountains and Lakes Region vacation property market in New Hampshire is unique because values are strongly influenced by:
- The principle of anticipation in real estate valuation holds that value is:
- When appraising a New Hampshire property, the appraiser must consider whether the property's current use is the highest and best use. If not, the appraiser must:
- Market value in appraisal theory assumes the buyer and seller are:
- An appraiser's determination of value is an estimate as of:
- A 'drive-by' appraisal (exterior-only inspection) in New Hampshire provides:
- A New Hampshire buyer overpays for a property due to emotional attachment. The resulting value exceeds market value and is called:
- Plottage (assemblage) value in New Hampshire refers to:
- A NH appraiser who uses three comparables all located 20 miles from the subject property in a different market may produce an unreliable appraisal because:
- An appraiser calculates the reproduction cost of improvements rather than replacement cost when:
- In New Hampshire, the town's assessed value vs. market value discrepancy is measured by the:
- The gross income multiplier (GIM) is used for:
- Economic life in real estate appraisal refers to:
- A NH appraiser determines that the indicated values from the three approaches are: cost=$310,000; income=$285,000; sales comparison=$298,000. The final reconciled value will most likely be:
- A NH appraiser's USPAP obligation requires that the appraisal report be:
- When NH appraisers adjust for differences between comparable sales and the subject property, the adjustments are based on:
- The 'linkage' concept in NH real estate valuation recognizes that property values are affected by:
- A NH appraiser who identifies a comparable sale between family members at a non-market price should:
- The 'principle of change' in NH real estate appraisal recognizes that:
- A NH appraiser who values a vacation property on Lake Winnipesaukee uses comparables from Lake Sunapee because there are insufficient recent sales on Lake Winnipesaukee. This approach:
- In the sales comparison approach, a time adjustment is made when:
- A NH real estate professional conducting a broker price opinion (BPO) should understand that a BPO:
- A NH appraiser who uses the cost approach for a 50-year-old warehouse estimates depreciation using:
- For a NH two-family home (duplex), a buyer-appraiser would likely give greatest weight to the:
- The NH real estate market in Concord and Manchester tends to be more:
- A NH appraiser who notes that an older industrial building has outdated loading dock heights that no longer accommodate modern trucks is identifying:
- The 'principle of balance' in NH real estate appraisal states that:
- In NH appraisal, paired sales analysis is used to measure the value contribution of:
- The concept of 'functional utility' in NH appraisal refers to:
- A NH appraiser notes that a property's neighborhood is in the 'decline' phase of the neighborhood life cycle. This typically means:
- A NH appraiser's certification that the report was prepared in compliance with USPAP is part of their obligation under:
- A NH appraiser who adjusts a comparable sale upward for the subject having a superior location is making what type of adjustment?
- A NH appraiser who values a property 'subject to' completion of planned improvements is providing:
- A NH income property's debt service coverage ratio (DSCR) of 1.25 means:
- In the income approach, effective gross income (EGI) differs from potential gross income (PGI) because EGI:
- A NH appraiser who adjusts a comparable's sale price downward because the comparable has a finished basement the subject lacks is making:
- An NH appraiser who is reviewing an older appraisal to determine if it is still valid should consider:
- A NH appraiser's 'as-is' value vs. 'as-repaired' value distinction is most relevant when:
- A NH appraiser estimating the value of a new medical office building would most likely use which appraisal approach as primary?
- A NH appraiser's final value opinion for a residential property of $425,000 is properly rounded because:
- In NH's competitive post-2020 real estate market, rapidly rising prices meant appraisers had to:
- A NH appraisal of a historic colonial home in Portsmouth would note which factors unique to historic properties?
- A NH appraiser notes that a property's neighborhood has transitioned from single-family to increasingly mixed residential/commercial uses. This is evidence of:
- A NH appraiser who discovers the property has unpermitted additions should:
- In NH, the concept of 'situs' in real estate refers to:
- A NH appraiser who identifies the highest and best use of a site as industrial but notes the current use is residential must:
- A NH appraiser performing a desktop appraisal (no physical inspection) should be aware that:
- A NH appraiser's 'extraordinary assumption' in an appraisal report means the appraiser is:
- A NH appraiser must complete what minimum education before being licensed as a trainee appraiser?
- A NH appraisal report for a single-family home is most commonly prepared using which Fannie Mae form?
- A NH appraiser who values a Laconia waterfront property notes that it commands a significant premium over non-waterfront properties. This premium reflects:
- When appraising a White Mountains ski resort-adjacent property in NH, an appraiser must consider:
- A NH appraiser who uses the sales comparison approach for a new lakefront home would primarily select comparables that are:
- A NH appraiser who identifies significant deferred maintenance (broken windows, water-damaged flooring, failing roof) must:
- When appraising a lakefront cottage in the NH Lakes Region, an appraiser places significant weight on the comparable sales approach. This is most appropriate because:
- In the income approach to valuation, 'effective gross income' is calculated by:
- The principle of conformity in real estate valuation holds that:
- The gross rent multiplier (GRM) method of estimating value is most commonly used for:
- An appraiser making a paired sales analysis in NH finds that the only difference between two comparable homes is that one has a two-car garage and sold for $25,000 more. The appraiser would:
- When appraising a White Mountains ski chalet that is only used seasonally, the appraiser must:
- A NH appraiser finds that a subject property has a cracked foundation that would cost $30,000 to repair. In the cost approach, this would be treated as:
- When comparing two properties in the same Manchester, NH neighborhood, an appraiser adjusts for the fact that one sold 18 months ago while the other sold last month. This is called a:
- In an appraisal using the sales comparison approach, a positive adjustment is made to a comparable sale when:
- An appraiser in Concord, NH uses three comparable sales to estimate value. The sales are $310,000, $298,000, and $325,000 after adjustments. The appraiser's final value conclusion will:
- The 'income capitalization approach' to value is most appropriate for:
- What is the primary purpose of a 'desk review' appraisal in NH real estate lending?
- An appraiser estimates that a NH home's 20-year-old roof has a remaining useful life of 10 years out of its 30-year total life. The effective age-life depreciation rate is:
- A NH appraisal report that complies with USPAP (Uniform Standards of Professional Appraisal Practice) must include:
- An appraiser estimates land value separately in the cost approach using the:
- In the cost approach, 'reproduction cost' differs from 'replacement cost' in that:
- A licensed appraiser in NH who performs a BPO (Broker Price Opinion) for a lender considering a short sale is:
- In NH real estate, 'functional obsolescence' refers to a loss in value due to:
- An appraiser determines that a NH property suffers from external (economic) obsolescence because:
- An appraiser preparing a value estimate for a NH historic home in Portsmouth finds few recent comparable sales. The appraiser might also rely on the:
- The appraisal principle of 'substitution' holds that:
- An appraiser in NH uses a 'market extraction' method to determine the cap rate for a commercial property. This involves:
- A NH appraiser uses the 'direct capitalization' method for a commercial property. The steps are:
- When appraising a New Hampshire lakefront property, the 'water frontage' (linear footage of shoreline) is typically:
- A NH appraiser must comply with the Uniform Standards of Professional Appraisal Practice (USPAP). USPAP is published by:
- An appraiser in Nashua, NH determines that the highest and best use of a commercial corner lot is a mixed retail/residential development rather than single-family residential. This conclusion:
- An appraiser preparing a market value estimate for a NH residential property uses market data as of the 'effective date' of the appraisal. The effective date is:
- A NH appraisal of a mixed-use property (residential apartments + ground floor retail) would most likely use:
- The term 'assemblage' in NH real estate refers to:
- A NH appraiser's 'scope of work' in an appraisal report describes:
- In NH, the assessed value for property tax purposes may differ significantly from market value because:
- In NH, a property's 'market value' as defined for appraisal purposes assumes:
- A NH appraiser determines a value of $410,000 using the sales comparison approach and $390,000 using the cost approach. For a 20-year-old residential property, the appraiser would likely:
- An appraiser preparing a value for a NH 4-unit residential property would typically use the income approach as a primary method and the sales comparison approach as:
- When comparing NH residential properties for the sales comparison approach, an appraiser should use comparables that:
Fair Housing
121 questions- A real estate agent who only shows homes in certain neighborhoods to buyers based on their national origin is guilty of:
- Under the Fair Housing Act, which of the following is allowed?
- A person who believes they have experienced housing discrimination in New Hampshire can file a complaint with:
- Which of the following statements about disability accommodations under the Fair Housing Act is TRUE?
- The Civil Rights Act of 1866 prohibits discrimination in real estate based on:
- Blockbusting is defined as:
- Under the Fair Housing Act, 'familial status' protects:
- A landlord who refuses to allow a tenant with a disability to keep a service dog in a no-pets building is likely:
- Redlining is the illegal practice of:
- In New Hampshire, the state agency that handles housing discrimination complaints is the:
- Under the Americans with Disabilities Act (ADA), which type of real estate is primarily covered?
- A real estate advertisement that states 'Perfect for Christian families' would violate the Fair Housing Act because it:
- Which exemption allows an owner of a single-family home to sell without using an agent and without advertising in a discriminatory manner, potentially exempt from certain Fair Housing provisions?
- Under NH fair housing law, which group is protected by state law but NOT specifically listed as a protected class under the federal Fair Housing Act?
- The federal Fair Housing Act of 1968 prohibits discrimination in housing based on which protected classes?
- New Hampshire's state fair housing law adds which protected class NOT found in the federal Fair Housing Act?
- Steering in real estate refers to:
- Blockbusting is the illegal practice of:
- Under the Fair Housing Act, a housing provider may request a reasonable accommodation for a tenant with a disability. The accommodation must be:
- A New Hampshire landlord refuses to rent to a family with three children under age 18. This most likely violates:
- The Americans with Disabilities Act (ADA) most directly applies to New Hampshire real estate through requirements for:
- A real estate advertisement that states 'ideal for Christian families' would violate the Fair Housing Act's prohibition against discrimination based on:
- Which of the following properties is EXEMPT from the federal Fair Housing Act?
- A New Hampshire landlord who requires a higher security deposit from a tenant because of their national origin has violated:
- Which statement about the Fair Housing Act and disability is correct?
- A real estate agent refuses to show a White buyer homes in a predominantly Black neighborhood. This is an example of:
- Under the Fair Housing Act, the term 'familial status' protects:
- Housing for Older Persons (55+ communities) in New Hampshire may legally restrict occupancy to older persons if:
- A New Hampshire bank refuses to provide a mortgage to a qualified applicant in a particular zip code solely because of the racial composition of the neighborhood. This is known as:
- A New Hampshire landlord who advertises 'No Section 8' may be violating:
- A NH real estate agent uses different qualification criteria for buyers of different ethnicities. This is an example of:
- A New Hampshire property management company has a 'no pets' policy. A prospective tenant requests an exception for an assistance animal. The company must:
- A landlord in New Hampshire asks prospective tenants 'Do you have any children?' on an application. This question:
- Disparate impact under the Fair Housing Act refers to:
- A NH property manager who maintains a 'no smoking in units' policy for all tenants:
- A real estate developer in New Hampshire builds a new 20-unit apartment building. Under the Fair Housing Act Amendments, accessible design requirements apply to:
- A NH real estate agent who avoids showing a Black buyer homes in a predominantly White neighborhood is practicing:
- The NH Human Rights Commission handles fair housing complaints under:
- A NH broker who refuses to list a property in a particular neighborhood to avoid dealing with buyers of a certain race is engaging in:
- The Fair Housing Act's prohibition on advertising with discriminatory language applies to:
- Under the Fair Housing Act, the complaint filing deadline with HUD is:
- A NH insurance company that charges higher homeowner's insurance premiums in minority-majority ZIP codes than in comparable White-majority ZIP codes may be engaging in:
- Source-of-income protection in New Hampshire's RSA 354-A means a landlord may NOT refuse to rent to a tenant because:
- A NH property manager who requires all applicants to have a credit score of 700 or higher applies this standard equally to all applicants. If this policy disproportionately excludes a protected class, it may constitute:
- A NH property manager who adds a surcharge for 'international background checks' only for applicants with foreign-sounding names is engaging in:
- A NH HOA rule prohibiting display of any flags or signs except the American flag could potentially raise:
- Which of the following is NOT a protected class under the federal Fair Housing Act?
- A NH property manager who implements a policy of 'no cooking smells in the hallways' and enforces it only against tenants of South Asian origin is engaging in:
- Under the NH Law Against Discrimination (RSA 354-A), a covered housing provider must:
- A NH condominium association that refuses to allow a buyer to purchase because of the buyer's disability is engaging in:
- A NH property manager may ask a person who claims a disability if their assistance animal is required due to a disability when:
- A NH real estate agent who 'tests' whether a competing agent is steering clients should:
- A NH real estate agent may legally refuse to show a property to a buyer because:
- NH's Law Against Discrimination covers not just housing sales and rentals but also:
- A NH lender who requires a larger down payment from Black applicants than from White applicants with identical credit profiles is committing:
- A NH real estate agent who uses racially coded language such as 'great neighborhood' (meaning White) or 'changing neighborhood' (implying minority in-migration) in marketing is engaging in:
- A NH newspaper that accepts a real estate advertisement containing discriminatory language is:
- A NH buyer who encounters suspected fair housing discrimination during a property search should first:
- A NH real estate brokerage's internal policy of designating which agents work in which neighborhoods based on the agent's or clients' race is:
- A NH property manager who evicts a tenant shortly after that tenant filed a fair housing complaint may be engaging in:
- Under the Americans with Disabilities Act, a NH property manager of a commercial building must provide:
- Conciliation in a NH fair housing complaint is:
- A NH developer who builds a new 10-unit apartment building must comply with which Fair Housing Act accessibility requirements?
- A NH broker who charges a higher commission to sell properties in minority neighborhoods than in predominantly White neighborhoods may be engaging in:
- NH real estate professionals are required by their Code of Ethics (NAR if they are Realtors) and NH law to:
- Which of the following actions by a NH landlord would constitute disability discrimination?
- A NH real estate firm's office policy that only assigns senior agents to high-income clients and junior agents to lower-income clients may create disparate impact concerns if:
- A NH landlord's 'no criminal background' policy that categorically denies all applicants with any criminal record may be subject to fair housing scrutiny because:
- Under the Fair Housing Act, 'handicap' (disability) includes:
- A NH landlord who charges pet deposits only to tenants of one ethnic background (not others with pets) is engaging in:
- A NH broker who excludes certain zip codes from targeted social media advertising for housing is:
- A NH real estate professional who witnesses illegal steering by a colleague should:
- A NH landlord who refuses to rent to someone because they are HIV-positive is violating the Fair Housing Act's protection against discrimination based on:
- A NH property manager who charges different security deposit amounts based on the number of children in the household is engaging in:
- Under NH's Law Against Discrimination, a complaint about housing discrimination must be filed with the NH Human Rights Commission within:
- A NH real estate agent who makes comments to a buyer about the neighborhood's 'changing character' is potentially engaging in:
- A NH apartment complex's policy stating 'no overnight guests' is applied only to the tenant's adult children but not to other guests. This selective enforcement:
- A NH property manager who creates separate 'preferred applicant' lists for different demographic groups is engaging in:
- A NH brokerage that has zero diversity in its client base despite serving a diverse market should examine:
- A NH landlord who allows a dog for one tenant but denies a similar request from a tenant of a different race is engaging in:
- Under the Fair Housing Act, refusing to negotiate with a buyer because of their race is illegal as a form of:
- A NH property manager who requires single individuals to show higher income than couples or families to qualify for the same unit is engaging in:
- A NH broker who uses only the phrase 'near church' in listing descriptions for properties in predominantly Christian neighborhoods and avoids such language in other areas may be engaging in:
- A NH property manager's refusal to allow a resident with PTSD to keep an emotional support cat (despite a 'no pets' policy) after receiving proper documentation is likely:
- HUD's Fair Housing Act Advertising Guidelines prohibit real estate ads that express a preference for or against people of a particular race. Such language in an NH newspaper ad includes:
- A NH landlord who verbally indicates a preference for tenants without children when speaking with a prospective tenant is:
- Under NH RSA 354-A, which of the following is NOT a protected class in New Hampshire's Fair Housing Act?
- A NH landlord refuses to rent to a family with three children, citing a policy of 'no more than two occupants per bedroom' for a two-bedroom unit. Under fair housing law, this policy:
- Under the Fair Housing Act, a real estate agent who steers minority buyers away from predominantly white neighborhoods and toward minority neighborhoods is committing:
- A NH property manager receives a rental application from a person who uses a wheelchair. The applicant requests permission to install a grab bar in the bathroom. Under fair housing law, the manager must:
- A NH apartment complex owner advertises units with the phrase 'ideal for young professionals.' This advertising language:
- Blockbusting in the context of fair housing law refers to:
- Under the Americans with Disabilities Act (ADA), which type of NH property is primarily subject to ADA accessibility requirements?
- A NH landlord who manages a 4-unit building and lives in one unit is exempt from the Fair Housing Act under the 'Mrs. Murphy exemption' only if:
- Redlining as prohibited by the Fair Housing Act refers to:
- A NH property manager who uses different lease terms (higher deposits, shorter lease lengths) for tenants of one national origin compared to others is committing:
- A NH real estate agent refuses to show properties in a specific Nashua neighborhood to a buyer because the agent assumes the buyer 'wouldn't fit in there' based on the buyer's accent. This is:
- Under the Fair Housing Act, which of the following is an example of a 'reasonable accommodation' for a person with a disability?
- A NH landlord who asks prospective tenants about their country of birth as part of a rental application is:
- A NH real estate agent is asked by a seller to 'find a buyer of the same background as us.' The agent should:
- Under NH RSA 354-A, housing discrimination complaints may be filed with:
- A NH HOA rule prohibiting residents from posting any signs or flags in their units or on their balconies may face challenge under:
- Under the Fair Housing Act, a landlord's insurance company requiring higher premiums or refusing to cover properties rented to families with children may constitute:
- A NH condo association that denies a unit owner's request to have a live-in aide for their disability without justification is likely violating:
- The Fair Housing Act requires that multi-family dwellings of four or more units built after March 13, 1991 must include:
- Under HUD regulations, a landlord must provide a reasonable accommodation to a tenant with a disability if:
- A NH property owner with a 'no children' policy in their single-family rental home would most likely be:
- A NH real estate company's website shows listings predominantly in certain neighborhoods when a user's ZIP code appears to be in a minority community—an algorithm that steers users away from other areas. This could be considered:
- A NH real estate agent who receives a complaint from a buyer that the seller's agent made discriminatory statements during a showing should advise the buyer to:
- A NH landlord requires all prospective tenants to speak English fluently as a rental qualification. This requirement:
- A NH real estate agent who belongs to a religious organization that discourages interaction with people of other faiths may NOT:
- The LGBTQ+ protections under fair housing law were significantly strengthened when:
- A NH landlord who posts a 'No Section 8' advertisement online is potentially violating:
- A NH property manager who requires all prospective tenants to submit to criminal background checks must:
- A NH property manager who learns that a potential tenant uses a mobility aid (wheelchair) asks if they can 'manage the stairs.' This question:
- A NH housing provider who discriminates against a veteran based on their service-connected PTSD disability (which limits their ability to live in high-density areas) would likely be violating:
- A NH apartment community that markets itself as a '55+ community' is exempt from the familial status provisions of the Fair Housing Act if:
- Under NH RSA 354-A, housing discrimination complaints must generally be filed within:
- A NH real estate agent who uses race or ethnicity as even a partial factor in deciding which properties to show a buyer is:
- A NH property manager who advertises 'no pets allowed' and then allows a service animal for a blind resident is:
- A NH housing provider who charges a higher security deposit to families with children than to adults-only households is:
Escrow & Title
121 questions- In New Hampshire, a quitclaim deed:
- The chain of title refers to:
- In New Hampshire, who typically conducts the real estate closing?
- Priority of liens on a property is generally determined by:
- In New Hampshire, a warranty deed (general warranty deed) provides buyers with:
- A special warranty deed differs from a general warranty deed in that:
- Title insurance in New Hampshire is issued to protect against:
- What is the purpose of recording a deed in the New Hampshire county registry of deeds?
- An 'abstract of title' in New Hampshire is:
- A lis pendens recorded against a New Hampshire property provides notice that:
- In New Hampshire, earnest money deposited with a broker must be:
- Which of the following encumbrances would a title search typically NOT reveal?
- What happens to a buyer's title insurance policy when the property is sold to a new buyer?
- In New Hampshire, when a property is sold at a tax sale due to unpaid property taxes, the former owner typically has a right to:
- New Hampshire is considered an attorney closing state, which means:
- A general warranty deed in New Hampshire provides the grantee with which covenants?
- A quitclaim deed in New Hampshire conveys:
- Title insurance in New Hampshire protects against:
- In New Hampshire, deeds must be recorded with the:
- The RESPA (Real Estate Settlement Procedures Act) requires lenders to provide borrowers with a Closing Disclosure (CD) at least how many business days before closing?
- In New Hampshire, what is the priority rule for competing liens on the same property?
- At closing in New Hampshire, the Real Estate Transfer Tax is typically:
- A lis pendens recorded in a New Hampshire county registry of deeds provides notice that:
- In New Hampshire, a deed must contain which elements to be valid?
- Constructive notice in New Hampshire real estate means that:
- In New Hampshire, a title examination typically covers public records going back how many years?
- A New Hampshire property with an unpaid mechanic's lien from a contractor will:
- The prorations at a New Hampshire closing divide ongoing expenses such as property taxes between buyer and seller based on:
- A special warranty deed in New Hampshire differs from a general warranty deed in that the grantor warrants title only against:
- A survey of a New Hampshire property reveals an encroachment where a neighbor's fence is 3 feet inside the boundary line. This is best addressed by:
- A New Hampshire abstract of title is:
- Quiet title action in New Hampshire is a court proceeding to:
- A New Hampshire title search reveals a 'gap' in the chain of title from 1965–1975. This means:
- A buyer's lender in New Hampshire requires a lender's title insurance policy. This policy protects:
- In New Hampshire, property taxes are typically paid:
- An owner's title insurance policy in New Hampshire is purchased:
- A NH buyer who does not purchase an owner's title insurance policy assumes the risk of:
- In New Hampshire, a mortgage (deed of trust) is released from the public record after payoff by filing a:
- In New Hampshire, the buyer typically pays for which of the following at closing?
- When a NH buyer pays off a mortgage and the lender fails to timely file a discharge, the buyer's remedy includes:
- A NH property listed with three mortgages on it that total more than the sale price is described as:
- A NH property under an IRS tax lien due to the seller's unpaid federal income taxes:
- A NH title insurance commitment (binder) is issued before closing to:
- In New Hampshire, non-judicial (power of sale) foreclosure means:
- After a NH non-judicial foreclosure sale, the original borrower has:
- A NH seller who retains possession after closing under a post-closing occupancy agreement (leaseback) is acting as:
- In New Hampshire, a foreclosure deed is delivered after a power-of-sale foreclosure to:
- A NH buyer who purchases a property 'subject to' an existing mortgage:
- A NH closing attorney who discovers a cloud on title (unresolved title issue) should:
- A NH title company's endorsement to a title insurance policy may:
- A NH deed that is signed but never delivered to the grantee:
- In a NH condominium purchase, buyers must receive which document before signing the purchase and sale agreement or upon receipt:
- A NH buyer who receives title by adverse possession should:
- A NH property that is being sold at foreclosure auction is sold:
- When NH property is held in joint tenancy and one owner dies, the title passes to the surviving owner(s) through:
- A NH buyer's attorney performing a title examination would check which public records?
- In NH, 'marketable title' means:
- A NH property's chain of title contains a deed signed by a person who was a minor at the time. This deed is:
- In NH, property taxes that are unpaid at closing are typically:
- A NH buyer who discovers after closing that the seller had a judgment lien not disclosed before closing can turn to their:
- In NH, the term 'deed in lieu of foreclosure' means the borrower:
- A NH property encumbered by a restrictive covenant limiting use to residential purposes can be freed from this restriction by:
- A NH buyer's closing statement (HUD-1 or Closing Disclosure) will show which of the following as a credit to the buyer?
- A NH closing statement shows the seller's proceeds as a net amount after which deductions?
- A NH property's tax certificate from a town reflects:
- When a NH lender sells a mortgage to the secondary market, the borrower may notice that:
- A NH lis pendens recorded against a property is most relevant to buyers because it:
- In NH, a tax deed is issued when:
- A NH buyer's lender requires title insurance. The lender's policy protects the lender but NOT the buyer. For the buyer to be protected they must:
- A NH homeowner who has paid off their mortgage in full should ensure the lender:
- A NH property title report shows an easement for 'overhead utility lines' along the eastern boundary. The buyer should:
- A NH mortgage recorded in 2010 and a mechanic's lien recorded in 2012 on the same property — in a foreclosure, which has priority?
- A NH title insurance commitment lists 'Schedule B-I' requirements. These items must be:
- A NH buyer who purchases property at a tax lien sale should obtain:
- A NH property's title contains a 'gap' period where no deed was recorded. This may be resolved by:
- A buyer's title insurance 'extended coverage' endorsement in NH may provide protection against:
- A NH buyer's attorney who conducts the closing also serves as the closing agent, meaning they:
- In NH, the 'Torrens system' of title registration is:
- A NH closing disclosure shows a credit to the buyer for the seller's accrued property taxes. This means:
- A NH property that is held in a revocable living trust is typically conveyed to a buyer by:
- In NH, who has the primary legal responsibility for delivering the deed to the buyer at closing?
- In NH, a mortgagee's title insurance policy benefits the lender by covering losses up to:
- NH's Power of Sale foreclosure process requires the lender to:
- In NH, who is responsible for recording the new deed after a residential closing?
- At a NH residential closing, the seller typically signs which primary document to transfer ownership?
- In New Hampshire, who typically prepares and reviews the closing documents at a real estate closing?
- In NH, a 'gap' in title that may affect a buyer's ownership rights would most likely be discovered during:
- A title insurance policy that protects the lender's interest in a NH property is called:
- A NH title search reveals a mechanic's lien filed against the property by a contractor who was not paid for renovation work. The seller must:
- Which of the following encumbrances would NOT appear in a NH title search?
- In a NH real estate transaction, who typically holds the earnest money deposit in escrow until closing?
- A NH 'warranty deed' provides which level of title protection to the buyer?
- In NH, a 'lis pendens' recorded against a property means:
- A NH buyer receives a title insurance commitment (binder) before closing. This document:
- At a NH closing, the HUD-1 Settlement Statement (or Closing Disclosure) is used to:
- A NH property is sold subject to an existing first mortgage. The buyer 'assumes' the mortgage. This means:
- In NH, a 'release deed' is typically used when:
- The priority of liens on a NH property is generally determined by:
- In NH, a 'survey' of a property establishes:
- A NH 'abstract of title' summarizes:
- When a NH property is sold in a trust deed state using a deed of trust, the trustee holds the legal title until the loan is repaid. In NH, however, mortgages are typically used where:
- In a NH real estate transaction, 'prorations' at closing are used to:
- A NH title company discovers an 'open mortgage' from 1985 that was never formally discharged. This creates a problem because:
- A NH property owner's lien for unpaid NH property taxes typically has what priority compared to a first mortgage?
- In NH, a buyer who discovers a title defect after closing can seek protection under their:
- In NH, a 'subordination agreement' involves:
- In a NH 1031 exchange (tax-deferred exchange), the qualified intermediary (QI) is responsible for:
- In NH, a 'deed in lieu of foreclosure' is an arrangement where:
- In NH, 'adverse possession' can ripen into fee simple title after the statutory period. For the title to be officially recognized, the claimant should:
- A NH title company discovers that a prior deed in the chain of title was forged. Owner's title insurance would typically:
- A NH property that was foreclosed and sold at a foreclosure sale still has a second mortgage on it. The second mortgage lien:
- In NH, the 'doctrine of equitable conversion' in a real estate contract means:
- A NH 'certificate of title' issued by an attorney after a title search provides:
- A NH property buyer who wants to verify that a mechanic's lien has been paid and released would check:
- A NH buyer asks their agent why they need title insurance when the title company already did a title search. The agent should explain that:
- When a NH property is sold via an estate (probate sale), the deed used is typically:
- In NH, when a purchaser at a tax sale (resulting from unpaid property taxes) takes title, the original owner typically has:
- A NH property under contract is damaged by fire before closing. The standard NH purchase and sale agreement addresses this by:
- In a NH 'double closing' (simultaneous closing), a real estate investor buys a property and immediately resells it on the same day. Potential legal issues include:
- When a NH property changes hands, the listing broker is responsible for disbursing the earnest money deposit to the parties according to:
- In NH, when property is sold 'free and clear of all encumbrances,' the seller is typically required to:
Environmental
115 questions- The New Hampshire Shoreland Water Quality Protection Act regulates development within how many feet of public water bodies?
- Which federal law requires disclosure of known lead-based paint hazards when selling a home built before 1978?
- In New Hampshire, a property with underground storage tanks (USTs) raises environmental concerns primarily because:
- CERCLA (Superfund) holds parties responsible for environmental cleanup costs based on the doctrine of:
- Radon gas in New Hampshire residential properties is a concern because:
- Asbestos found in a property built before the 1980s is most hazardous when it is:
- An environmental site assessment Phase I evaluates a property by:
- Which of the following best describes 'wetlands' under New Hampshire environmental law?
- In New Hampshire, a seller who is aware of an oil spill on the property is required to:
- The primary environmental concern with properties near former dry-cleaning operations is contamination with:
- Under New Hampshire law, who must approve a new septic system design before installation?
- A New Hampshire seller is required to disclose on the NH Residential Property Condition Disclosure form whether the property has:
- Radon is a concern in New Hampshire because:
- The New Hampshire Wetlands Bureau, part of NHDES, regulates development near wetlands to protect:
- A buyer discovers that the property they are purchasing has a leaking underground storage tank (UST). They should contact:
- Lead paint disclosure is federally required for residential properties built before:
- Asbestos in a New Hampshire home is most commonly found in:
- PFAS contamination of drinking water in New Hampshire has been particularly associated with:
- New Hampshire requires a well water test for which contaminants before a residential real estate closing involving a private well?
- Arsenic in drinking water is a particular concern in New Hampshire because:
- The EPA's action level for radon in indoor air, above which mitigation is recommended, is:
- CERCLA (Superfund) holds which parties potentially liable for hazardous waste cleanup costs?
- A Phase I Environmental Site Assessment (ESA) involves:
- A New Hampshire buyer discovers the property they are under contract to purchase has a fuel oil spill that contaminated the soil. The buyer should:
- New Hampshire's Groundwater Protection Act aims to protect:
- Mold in a New Hampshire rental property is primarily the landlord's concern because:
- Carbon monoxide (CO) detectors are required in New Hampshire residential properties because:
- New Hampshire requires smoke detectors in residential properties. Battery-operated smoke detectors must be:
- New Hampshire's Alteration of Terrain (AoT) permit is required for:
- A New Hampshire property owner discovers an endangered plant species on their land. This may affect their development plans because:
- A New Hampshire property near an old apple orchard or former agricultural use may require testing for:
- New Hampshire has some of the highest rates of radon in New England primarily because of:
- A New Hampshire residential property with an on-site septic system that is failing could affect:
- NH DES's Subsurface Systems Bureau oversees:
- A NH property built in the 1950s with a coal furnace later converted to oil may have concerns about:
- Testing for volatile organic compounds (VOCs) in a NH property's well water would be most important when:
- A NH buyer's lender requires flood zone certification. If the property is in a FEMA-designated Special Flood Hazard Area (SFHA), the buyer:
- Methane gas from a nearby former landfill poses which risk to adjacent NH properties?
- New Hampshire's Clean Air Act regulations administered by NHDES apply to real estate through:
- The Wellhead Protection Program in New Hampshire is designed to protect:
- A NH residential buyer discovers that the previous owner filed for bankruptcy and the property sat vacant for 2 years. The most appropriate environmental concern to investigate is:
- New Hampshire's Department of Environmental Services (NHDES) is responsible for all of the following EXCEPT:
- New Hampshire's DES Water Division regulates:
- A New Hampshire lakeside property owner who wants to install a dock must obtain approval from:
- A NH buyer should be concerned about nitrate contamination in a private well on a property that was previously a:
- A NH buyer's home inspection reveals vermiculite insulation in the attic. The buyer's concern should be:
- New Hampshire's Coastal Risk and Hazards Commission addresses which environmental concern affecting coastal real estate?
- A NH buyer of a commercial property adjacent to a dry cleaner should conduct at minimum:
- A NH property owner who discovers oil contamination from a former furnace leak should report it to NHDES because:
- A commercial property in NH's Nashua industrial corridor may require an environmental baseline study before purchase because:
- A NH property owner notified that their groundwater is contaminated with PFAS from a nearby industrial facility should contact:
- A NH property with a manufactured (mobile) home may have concerns about:
- New Hampshire mandates an 'innovative/alternative' (I/A) septic system in certain environmentally sensitive areas because:
- A NH property buyer concerned about indoor air quality in a home that was previously used as a marijuana grow operation should specifically investigate:
- A NH property owner who wants to install a drilled well must obtain permits from:
- A NH home inspection reveals brownish water staining on the water heater. This may indicate:
- A NH buyer who discovers a previous owner stored pesticides in the garage should investigate because:
- New Hampshire's Excavating and Dredging Permit (NHDES) is required for work in:
- Noise pollution from a nearby NH quarry affecting a residential neighborhood is an example of:
- A NH property surrounded by wetlands may have development restrictions because:
- A NH buyer's home inspection reveals white powder residue around basement windows (efflorescence). This typically indicates:
- A NH property that once housed a gas station should be investigated for underground storage tank (UST) contamination. Which type of fuel contamination is most common at former gas stations?
- A NH homeowner who discovers their home has a urea-formaldehyde foam insulation (UFFI) issue should know that:
- A NH property owner who burns trash in an outdoor barrel may be violating:
- A NH property adjacent to a former tannery site should be investigated for which primary environmental concern?
- A NH residential property located within a FEMA-designated 100-year floodplain (Zone AE) must have flood insurance if:
- A NH property near a former manufacturing facility may require a 'preliminary endangerment assessment' if the state suspects:
- A NH property's drinking water well tests positive for coliform bacteria. The appropriate response is to:
- NH's Oil Discharge and Disposal Cleanup Fund (Oil Fund) may cover remediation costs for a homeowner with a leaking home heating oil tank when:
- The New Hampshire Stormwater Permit Program (NHDES) applies to real estate development when:
- A NH homeowner whose well is contaminated by a neighbor's improperly abandoned septic system may seek remedies through:
- A NH property owner who wants to install a solar array should be aware that:
- A NH property owner's responsibility for hazardous materials under CERCLA may be triggered by:
- New Hampshire's Drinking Water and Groundwater Bureau (NHDES) sets Maximum Contaminant Levels (MCLs) to:
- A NH property with a geothermal heat pump system draws heat from the ground using:
- NH's Comprehensive Shoreland Protection Act (RSA 483-B) prohibits impervious surfaces within how many feet of water bodies?
- A NH buyer purchasing a property near the Seacoast should be aware of the potential risk of:
- A NH historic home built in the 1920s may have galvanized or lead service lines. This is important because:
- A NH buyer of a property with a wood-burning fireplace should verify:
- NH homeowners with private wells are most concerned about naturally occurring arsenic because:
- PFAS (per- and polyfluoroalkyl substances) contamination in NH has been found primarily near:
- A NH homeowner discovers an underground oil storage tank (UST) on property they are purchasing. This is significant because:
- NH's Shoreland Water Quality Protection Act (RSA 483-B) primarily regulates development within:
- Radon is a naturally occurring radioactive gas in NH that primarily enters homes through:
- In NH, a 'wetlands impact permit' from NH DES is required when:
- A NH home inspection report notes the presence of knob-and-tube wiring. This is significant because:
- A NH commercial property that operated as a dry cleaning business has elevated perchloroethylene (PCE) levels in the soil. Under CERCLA and NH law, liability for cleanup may fall on:
- In NH, a property near a former gasoline station showing soil contamination with petroleum hydrocarbons would require:
- A NH buyer purchases a home built in 1965 and later discovers lead-based paint. The seller's disclosure obligation under federal law was to:
- A NH property has an active septic system. Under NH DES rules, the seller is typically required to:
- A NH buyer asks about the presence of Chinese drywall (imported defective drywall) in a home built around 2005–2009. This is relevant because:
- In NH, the presence of mold in a property is primarily a concern because:
- A NH buyer of a pre-1978 home is given 10 days to conduct a lead-based paint inspection under federal law. The buyer may:
- NH's requirement to disclose the presence of a private well on a seller's disclosure form is important because:
- A NH buyer is purchasing a property adjacent to a former municipal landfill. The primary environmental concern is:
- A NH property inspection reveals a malfunctioning oil furnace with suspected carbon monoxide (CO) leaks. This is a serious concern because:
- A NH well water test comes back positive for coliform bacteria. The recommended response is:
- A NH buyer is purchasing a former farm that may have had pesticide or herbicide applications. A Phase I Environmental Site Assessment (ESA) is appropriate because:
- A NH property owner discovers a fuel oil spill in their basement from a ruptured fuel storage tank. Under NH law, the owner must:
- The presence of asbestos-containing materials (ACM) in a NH home built before 1980 is a concern primarily when:
- Polychlorinated biphenyls (PCBs) found in older electrical equipment and materials in a NH commercial building are regulated under:
- In NH, a property owner who discovers contamination on their property from a neighboring site may be considered a:
- NH DES requires subsurface disposal systems (septic systems) to be designed to handle the property's wastewater based on:
- A NH property inspection reveals that the basement has been used to store old drums containing unknown chemicals. This situation would most likely trigger:
- A NH home inspection reveals the presence of polybutylene (PB) plumbing pipes. This is a concern because:
- A NH seacoast home built on fill near a tidal marsh may be subject to federal jurisdictional wetland protections under:
- A NH property is located near a former textile mill that used chlorinated solvents in its operations. The most likely contaminant of concern in groundwater would be:
- New Hampshire's 'NH Healthy Homes and Lead Poisoning Prevention Program' focuses on:
- A NH manufactured home on a private well had water testing positive for uranium. This is likely due to:
- A NH property owner finds that their driveway is coated with millings from a nearby road project that contain PAHs (polycyclic aromatic hydrocarbons). This is concerning because:
- A New Hampshire shorefront property on Lake Winnipesaukee has a dock that requires replacement. The replacement dock project requires permits from:
- A NH homeowner is adding an addition to their home and discovers buried debris that appears to be waste material. The appropriate action is to:
- A NH property owner wants to fill a small wetland area on their property to create a level lawn. Before proceeding, they must understand that:
- A NH homeowner receives a notice that their property is within the 'PFAS notification area' from the Pease International Tradeport. The appropriate response is to:
- A NH property near a cemetery may have elevated levels of which contaminant due to historical embalming practices?
Land Use & Zoning
109 questions- A nonconforming use in New Hampshire is best defined as:
- In New Hampshire, zoning ordinances are adopted and enforced by:
- A New Hampshire property owner wishes to build a garage that is 2 feet closer to the lot line than the zoning setback allows. The owner should apply for a:
- The New Hampshire Zoning Board of Adjustment (ZBA) has authority to:
- Eminent domain in New Hampshire allows the government to take private property for public use provided:
- A special exception (or special use permit) in New Hampshire differs from a variance in that it:
- New Hampshire's Regional Planning Commissions assist municipalities by:
- Under New Hampshire subdivision regulations, a developer dividing land into four or more lots typically must obtain approval from the:
- A conservation easement in New Hampshire permanently restricts development on a parcel to protect:
- New Hampshire's Shoreland Water Quality Protection Act (RSA 483-B) regulates development within how many feet of public waters?
- A 'taking' in land use law that reduces property value so significantly it effectively deprives the owner of all economic use is called a:
- Impact fees in New Hampshire municipalities are charged to developers to:
- A planned unit development (PUD) in New Hampshire allows:
- New Hampshire's Right to Farm Act protects agricultural operations from:
- In New Hampshire, a builder who begins construction without required permits is subject to:
- A cluster development in New Hampshire concentrates homes on a portion of the site to:
- TDR (Transfer of Development Rights) programs in New Hampshire allow:
- An accessory dwelling unit (ADU) in New Hampshire is:
- In New Hampshire, a 'taking' by regulation (inverse condemnation) occurs when:
- A New Hampshire town's master plan serves as:
- A special use permit (special exception) in New Hampshire is granted when:
- A New Hampshire municipality may adopt an historic district ordinance to:
- A New Hampshire property owner in a historic district wants to add vinyl siding to replace original wood clapboard siding. The Historic District Commission would likely:
- A new telecommunications tower proposed near a residential neighborhood in New Hampshire would typically require:
- New Hampshire's Innovative Land Use Controls (RSA 674:21) permit municipalities to adopt:
- A NH municipality that wants to protect a working farm from development pressure might best use:
- A 'spot zone' in New Hampshire is generally:
- A density bonus in NH zoning allows a developer to build at higher density in exchange for:
- A NH developer wants to build a retail strip mall in an area zoned residential. They would need to apply for:
- New Hampshire's Workforce Housing Law (RSA 674:58–61) requires municipalities to:
- New Hampshire's Site Plan Review process by the planning board applies to:
- New Hampshire's minimum lot size requirements in rural zones are often designed to:
- A NH town adopts an inclusionary zoning ordinance requiring that 10% of units in residential developments of 10+ units be affordable. This is an example of:
- A 'buffer zone' in NH zoning typically refers to:
- A NH homeowner who wants to operate a hair salon out of their home may need a:
- A NH 'form-based code' differs from traditional Euclidean zoning in that it regulates:
- A New Hampshire property in a flood zone has a base flood elevation (BFE) requirement that affects:
- A NH town that has reached its housing growth limit under a growth management ordinance may temporarily:
- A NH municipality's capital improvement plan (CIP) is important to real estate professionals because it:
- NH's Downtown Tax Increment Financing (TIF) districts are used to:
- A NH municipality that wants to reduce traffic congestion from new development may require:
- NH's Natural Heritage Bureau tracks rare and endangered plants and wildlife, which can affect development projects by:
- A NH municipality that uses low-impact development (LID) standards is trying to:
- Noncompliance with NH site plan approval conditions may result in:
- A NH municipality may legally refuse to approve a subdivision if:
- A NH developer who violates subdivision approval conditions may be required to:
- A 'use by right' in NH zoning means:
- New Hampshire allows municipalities to use 'overlay zones' to:
- A NH municipality's zoning ordinance that prohibits any development within 250 feet of a river is an example of:
- NH's Driveway Access Permit (RSA 236:13) requires state permit review for new driveways or changes to access on:
- A NH 'village plan alternative' allows property owners to:
- A NH municipality may require a developer to dedicate land for a school or park as a condition of subdivision approval under:
- A NH permit for dam construction or modification must be obtained from:
- A NH property owner who wishes to challenge an unfair property tax assessment must file an appeal with:
- NH's Municipal Budget Act (RSA 32) affects real estate when municipalities must:
- A NH municipality that has not adopted a zoning ordinance is governed by:
- A NH 'mixed-use' development zone typically allows:
- A NH developer who needs to build a road through wetlands to access their site must obtain which federal permit?
- A NH property owner whose land is split by a town boundary may face:
- NH's scenic byways program may affect development along designated routes by:
- A NH condominium association that wants to add a pickleball court to common areas must:
- A NH municipality may create an 'economic development district' to attract:
- A NH developer proposing a large retail complex next to a residential neighborhood would likely face opposition related to:
- NH's 'smart growth' principles, reflected in RSA 9-B, encourage municipalities to:
- A NH developer who wants to build affordable senior housing in a single-family zone may apply for a:
- NH law (RSA 674:44) requires all municipalities with planning boards to:
- A NH municipality's 'dark sky' lighting ordinance that limits outdoor lighting near a residential subdivision is an example of:
- A NH municipality's 'open space' zoning designation typically aims to:
- A NH commercial property owner who wants to add signage must comply with:
- A NH municipality that allows 'by-right' accessory dwelling units (ADUs) on qualifying lots must do so because:
- A NH town's 'natural resources inventory' (NRI) is used during the planning process to:
- A NH 'form-based' approach to zoning near transit corridors (TOD) aims to:
- NH's Building Code (adopted IRC) provides minimum standards for residential construction to ensure:
- Under NH RSA 674:44, a town's capital improvements program (CIP) is best described as:
- A property in NH has been used as an auto repair shop since 1960, predating the town's 1975 zoning ordinance that now prohibits auto repair in that zone. This use is:
- A NH town's planning board denies a subdivision application because it does not comply with the town's subdivision regulations. The applicant's next step would most likely be to:
- In NH, a variance from the zoning ordinance is granted by the:
- In NH, a 'planned unit development' (PUD) differs from traditional zoning by:
- A NH developer proposes a 25-unit subdivision. The town's subdivision regulations require a 'recreation space' dedication of 5% of the land area. This requirement is:
- A NH town adopts an 'agricultural zoning' district to preserve farmland. A developer who wants to build residential homes in this zone would most likely need to apply for a:
- A NH town's master plan is best described as:
- In NH, a 'special exception' from the zoning board of adjustment differs from a variance because:
- A NH municipality imposes a development impact fee on new residential construction to pay for new school capacity. Under NH RSA 674:21, this fee must:
- A NH property in a 'flood hazard area' (Special Flood Hazard Area) designated by FEMA is subject to:
- Under NH RSA 674:16, a NH municipality's zoning ordinance must be consistent with the town's:
- A 'cluster development' in NH allows homes to be built on smaller individual lots if:
- A 'taking' under the Fifth Amendment requires the government to pay just compensation when:
- A NH town's 'aquifer protection overlay zone' restricts land uses to protect:
- A NH developer seeking to build a large retail development must typically obtain which type of approval in addition to a zoning permit?
- NH's regional planning commissions assist municipalities with:
- A NH property owner wishes to build a home in a newly created subdivision. Before building, they typically need:
- A NH municipality's 'inclusionary zoning' ordinance requires that a certain percentage of units in new residential developments be made affordable to households below a certain income threshold. This type of regulation:
- A NH property has both commercial and residential uses—a retail shop on the ground floor and apartments above. This is an example of:
- Under NH's Regional Planning Act (RSA 36), regional planning commissions:
- NH's 'current use' taxation program (RSA 79-A) benefits landowners who:
- A NH town's 'growth management ordinance' that limits the number of building permits issued annually is intended to:
- A NH developer subdivides a 50-acre parcel into 15 residential lots. Under NH RSA 674:36, the developer must obtain:
- Under NH's anti-NIMBY legislation (RSA 674:71-73), municipalities must allow accessory dwelling units (ADUs) by right in single-family residential zones. This means:
- A NH municipality's 'transfer of development rights' (TDR) program allows property owners to:
- A NH town issues a 'cease and desist order' to a property owner who is operating a junkyard without a permit. This is an example of:
- In NH, a 'heritage commission' established under RSA 673:4-b advises the municipality on:
- A NH property is in a 'historic district' designated under NH RSA 674:45. Proposed exterior modifications to buildings in the district must be reviewed by:
- NH's 'fast track permitting' for workforce and affordable housing developments under RSA 674:21 is designed to:
- A NH town's 'open space plan' helps identify:
- A NH municipality that has exceeded its 'density cap' for affordable housing (under RSA 674:58-61, the Workforce Housing Law) must:
- Under NH law, a 'workforce housing' unit is generally defined as housing affordable to households earning:
- A NH property owner receives a 'notice of violation' from the municipality for operating a home-based business without the required home occupation permit. The owner should:
- A NH property owner applies for a variance, claiming the zoning ordinance creates an 'undue hardship.' Under NH law, undue hardship requires showing:
- A NH municipality's 'scenic road' designation under RSA 231:157-158 means that:
Property Management
107 questions- A New Hampshire property manager who collects rents and negotiates leases on behalf of another must hold a:
- Under the New Hampshire Landlord-Tenant Act (RSA 540), the maximum security deposit a landlord may collect is:
- A New Hampshire landlord must return a security deposit within how many days after the tenancy ends?
- A gross lease requires the tenant to pay:
- A net lease (NNN) requires the commercial tenant to pay:
- To evict a tenant in New Hampshire for nonpayment of rent, the landlord must first:
- A property manager's primary fiduciary duty is owed to:
- Self-help eviction — such as changing locks or removing a tenant's belongings — is:
- A property management agreement typically includes:
- In New Hampshire's Lakes Region, vacation rental properties present unique management challenges because:
- A New Hampshire commercial lease tenant improvement allowance (TIA) refers to:
- Vacancy and credit loss in property management refers to:
- A New Hampshire property manager should place security deposits in:
- The Americans with Disabilities Act (ADA) Title III requires that New Hampshire commercial properties open to the public:
- In New Hampshire, a tenant-at-will lease may be terminated by either party with at least:
- A New Hampshire property manager who signs leases on behalf of the owner is acting as:
- A New Hampshire property management company managing 200 rental units should use:
- Under the NH Landlord-Tenant Act, a landlord's failure to make necessary repairs within a reasonable time after notice may allow the tenant to:
- The Uniform Residential Landlord and Tenant Act (URLTA) — or its principles — is important to NH property managers because it:
- A NH property manager who discriminates in the rental of units based on the tenant's source of income may face liability under:
- A NH landlord who enters a tenant's apartment without notice except in emergencies is likely violating:
- A New Hampshire commercial tenant with a percentage lease pays:
- A NH commercial tenant's CAM (Common Area Maintenance) charges cover:
- Under New Hampshire law, a landlord must maintain rental property in a fit and habitable condition. This means:
- A New Hampshire property manager's management fee is typically calculated as:
- A 'cap' on operating expense increases in a commercial lease (expense stop) protects the:
- An NH property with a condominium homeowners association (HOA) requires new owners to:
- A NH property manager who fails to repair a dangerous condition (such as a broken staircase railing) after tenant notice may be liable for:
- A NH landlord who collects rent and refuses to provide a receipt upon tenant request is violating:
- A NH residential lease must be in writing if it is for a term longer than:
- A NH landlord may NOT enter a tenant's unit without notice except:
- When a NH commercial tenant installs trade fixtures in leased space, those fixtures:
- Under NH's Landlord-Tenant Act, a landlord who wrongfully withholds a security deposit may be liable for:
- NH's Uniform Commercial Code (UCC) is relevant to commercial real estate transactions when:
- A NH property manager must handle a tenant's security deposit interest by:
- A NH property manager who manages a building with elevators must ensure compliance with:
- Under NH law, a landlord who wants to convert apartments to condominiums must:
- A NH commercial property manager overseeing a retail center should monitor:
- A NH commercial property manager should conduct regular property inspections to:
- A NH residential property manager's key responsibility in winter months is to ensure:
- A NH property manager who accepts a kickback from a contractor in exchange for directing repair work is:
- A NH landlord who seeks to increase rent for an existing tenant must:
- NH's Right to Know Law (RSA 91-A) affects property management of government-owned properties by:
- A NH property manager who signs a lease on behalf of an owner without authorization is:
- A NH property manager responsible for a 50-unit apartment complex should maintain which type of emergency reserve fund?
- A NH residential property manager must provide adequate notice before a rent increase for a tenant with a fixed-term lease by:
- A NH commercial lease 'holdover' tenant who continues occupancy after lease expiration is typically treated as a:
- A NH property manager's annual management report to the property owner should include:
- A NH commercial tenant who sublets space to a subtenant without the landlord's consent may be in:
- A NH property manager dealing with a tenant who has not paid rent for 3 months should:
- A NH property manager notices a tenant has installed a dishwasher without permission, resulting in a leak that damaged the floor. The manager should:
- A NH property management company's errors and omissions (E&O) insurance covers:
- A NH property manager who fails to obtain adequate liability insurance for a managed property is exposing the property owner to:
- A NH property management company that uses standardized lease forms should have them reviewed by an attorney to ensure:
- A NH property manager should ensure that all rental applications are maintained for at least:
- Under NH law, when a residential lease expires and the landlord sends a new lease with higher rent, the tenant who continues paying the old rent is considered a:
- A NH commercial property manager who negotiates a lease renewal must ensure the terms reflect:
- A NH short-term vacation rental (STR) property is most subject to regulation by:
- A NH property manager should screen residential applicants consistently using criteria such as:
- A NH property manager who manages properties for multiple owners must maintain separate accounting records because:
- A NH rental property owner who wants to convert their building to condominiums is subject to the requirements of:
- A NH property manager should document all maintenance requests because:
- A NH property manager who also acts as a real estate agent selling the managed properties must disclose to all parties:
- A NH property manager who receives a notice of code violation from the municipality must:
- A NH property manager handling a security deposit dispute with a former tenant should maintain:
- A NH landlord who discovers their tenant is operating a business from a residentially-zoned apartment should:
- A NH property manager who fails to maintain adequate property insurance coverage for a managed building is liable to the owner for:
- In a NH commercial property management scenario, the net operating income (NOI) is used to:
- A NH property manager's errors and omissions (E&O) insurance will NOT typically cover:
- A NH property manager who serves as a witness to a lease agreement may also:
- A NH property manager who advertises a rental property online must ensure the listing:
- A NH landlord wishes to convert residential rental units to condominiums. Under NH RSA 356-C, what notice must be given to existing tenants?
- Under NH RSA 540-A, a landlord who enters a tenant's unit without proper notice (except in emergencies) may be liable for:
- Under NH RSA 540, how much notice must a landlord give to terminate a month-to-month tenancy?
- A NH residential tenant has not paid rent for 7 days past the due date. The landlord's first legal step in the eviction process is to:
- A NH property manager is responsible for maintaining accurate books for a rental property. This includes:
- A NH tenant gives proper 30-day notice to vacate at the end of a month-to-month tenancy. Upon departure, the landlord retains the full security deposit claiming 'normal wear and tear' as damages. Under NH RSA 540-A, this is:
- A NH property management company charges an owner a 10% management fee on collected rents. If the property generates $3,800/month and has a 5% vacancy rate, what is the monthly management fee?
- A NH property manager discovers the rental property has a leaking roof. The property manager's duty is to:
- Under NH law, what is the maximum security deposit a residential landlord may collect from a tenant?
- A NH landlord who wrongfully withholds a security deposit after a tenant vacates may be liable for:
- In NH, a residential lease for more than one year must be:
- A NH property manager enters into a contract with a vendor to repair a rental unit's roof. The property manager's authority to do so comes from:
- A NH landlord who engages in 'self-help' eviction by changing the locks on a tenant without a court order is:
- A NH tenant notifies the property manager that the heating system has failed in January. The property manager's immediate obligation is to:
- Under NH RSA 540:2, a landlord may evict a tenant for which of the following reasons?
- A NH residential tenant who sublets their apartment without the landlord's permission when the lease prohibits subletting has:
- A NH landlord who receives a security deposit must return it or provide an itemized written accounting of deductions within how many days of the tenant vacating?
- A NH property manager who collects rent on behalf of an owner must remit the rent (less management fees) to the owner:
- A property manager in NH who manages a residential rental property must provide tenants with a unit that meets:
- A NH property management agreement typically grants the manager authority to do all of the following EXCEPT:
- A NH property manager is directed by the owner to refuse to rent to applicants with Section 8 (Housing Choice Voucher) assistance. In NH, this instruction:
- A NH property manager who discovers a fair housing violation by the property owner should:
- A NH property manager receives an application from a prospective tenant. The manager must evaluate the application based on:
- A NH tenant terminates a one-year lease after only 3 months by abandoning the property. The landlord's obligation is to:
- A NH commercial property manager negotiates a 'triple net (NNN) lease' for a retail tenant. Under a NNN lease, the tenant pays:
- A NH property management company receives the monthly rent payment and holds it for 45 days before remitting to the owner. This practice:
- A NH property management company that manages both commercial and residential properties must maintain separate trust accounts for:
- Under NH RSA 540-A, which of the following is an unlawful landlord practice?
- A NH landlord who receives an HUD complaint from a former tenant alleging housing discrimination must:
- A NH property management agreement that is silent on the manager's authority to execute leases longer than one year would mean the manager:
- A NH property manager who signs a lease on behalf of the property owner without the owner's authorization is:
- A NH commercial tenant whose lease has expired continues to pay monthly rent and the landlord continues to accept it. This creates a:
- A NH property management company charges a 'lease-up fee' to the property owner when a new tenant signs a lease. This fee is:
- A NH landlord plans to demolish a rental property to build new construction. Under NH RSA 540, the minimum notice to residential tenants is:
- A NH property manager is approached by a prospective tenant who appears to be under the influence of alcohol during the showing. The manager may:
- A NH property manager who receives a habitability complaint from a tenant about inadequate heating must respond to the complaint:
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