New Hampshire Real Estate Broker Exam — All Questions
3 questions
Which body licenses and regulates real estate brokers in New Hampshire?
- a.The New Hampshire Department of Justice
- b.The New Hampshire Association of Realtors
- c.The New Hampshire Real Estate Commission within the Office of Professional Licensure and Certification✓
- d.The New Hampshire Banking Department
New Hampshire real estate licensing is administered by the New Hampshire Real Estate Commission, which operates within the Office of Professional Licensure and Certification (OPLC) under RSA 331-A. A trade association such as the Association of Realtors is a private membership group with no licensing authority.
New Hampshire real estate practice is primarily governed by which statute?
- a.RSA 358-A, the Consumer Protection Act
- b.RSA 331-A, the Real Estate Practice Act✓
- c.RSA 477, the Conveyances chapter only
- d.RSA 400-A, the Insurance Code
RSA 331-A is the Real Estate Practice Act and is the primary statute governing broker and salesperson licensing and conduct in New Hampshire. Other chapters such as RSA 477 (conveyances) and RSA 356-B (condominiums) apply to specific transactions but are not the general licensing law.
In New Hampshire, which statement best distinguishes a broker license from a salesperson license?
- a.A broker may operate independently, hold client trust funds, and supervise affiliated licensees, while a salesperson must work under a broker✓
- b.A broker and a salesperson have identical authority; only the fee differs
- c.A salesperson may open a firm and hold escrow, but a broker may not
- d.A broker license is issued automatically after any salesperson renewal
The broker credential is the higher license: a New Hampshire broker may operate independently, open a firm, hold client funds in trust, and supervise affiliated salespersons and brokers. A salesperson may perform licensed activity only under a supervising broker and cannot hold escrow independently.