We report on a numerical calculation study of two new functional properties in magnetic tunnel junctions (MTJs), negative dynamic resistance and RF amplification. The magnetic dynamics in a conventional CoFeB/MgO/CoFeB MTJ with in-plane magnetization was investigated using a macro-spin model simulation. To examine the influence of thermal fluctuations, random external magnetic fields were also included. Using a voltage controlled bias circuit, the negative dynamic resistance was obtained from time averaged I-V characteristics at both 0 K and 300 K under appropriate external magnetic fields and bias voltages. Using this negative dynamic resistance property, we demonstrated RF amplification with a 100 MHz high frequency signal. Sizable RF amplification gain was observed without thermal fluctuation. However, at 300 K, the RF signal was not amplified because low frequency magnetization dynamics were dominant.