New Hampshire License Law
A NH broker who has not obtained their required continuing education by the license renewal deadline will:
AReceive a 60-day automatic extension
BHave their license lapse and be unable to practice until renewal requirements are met and the license is reinstated✓ Correct
CReceive a CE waiver if they were busy closing transactions
DBe able to continue practicing for 6 months while catching up on CE
Explanation
Failure to complete required CE before the renewal deadline results in a lapsed license. The licensee cannot conduct licensed activities until the CE is completed, any required fees are paid, and the license is properly renewed.
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Key Terms to Know
Discount Points
Prepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
Continuing EducationLicense Law
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