TIMESHARE UPDATED TESTED QUESTIONS AND ANSWERS
GUARANTEE A+
✔✔The Real Estate Division is considered - ✔✔an administrative unit of state
government
✔✔How often is a timeshare agent REQUIRED to complete continuing education? -
✔✔Every 24 months (2 years)
✔✔The Nevada regulations governing Public Offering statement in timeshare sales are
very specific. One such rule covers a project's Public Offering Statement warning
message. Which statement is TRUE? - ✔✔The warning message must be printed in
RED.
✔✔In an agency relationship: - ✔✔an agent must disclose material facts to prospective
purchaser.
✔✔The Duties Owed by a Nevada Real Estate Licensee: - ✔✔must be given to each
prospective purchaser before any contract is signed.
✔✔A timeshare sales agent is at a point in the sales presentation where the prospective
purchaser is reaching for their checkbook. The sales agent has done a great job and the
deal is going to be linked. Before the sales agent can take the money, what must be
done? - ✔✔A copy of the Public Offering statement should be given to the purchaser.
✔✔Which agency in Nevada issues the Public Offering Statement? (POS) - ✔✔Real
Estate Division
✔✔Which document MUST be received and signed by the purchaser before the
execution of any contract for the sale of a timeshare? - ✔✔Public Offering Statement
(POS)
✔✔Which document MUST be received and signed by the purchaser before the
execution of any contract for the sale of a timeshare? - ✔✔Public Offering Statement
(POS)
✔✔Under NRS 119A, the notice of cancellation may be delivered to the developer in all
of the following methods EXCEPT by - ✔✔electronic mail to the address shown on the
project information (all cancellations in WRITING and delivered - mail, fax, UPS etc)
✔✔What is normally included in the annual maintenance fee charged in a timeshare
program? - ✔✔1. Taxes and insurance
2. Replacement of furniture
3. Maintenance of rooms
, 4. All of the above
ALL OF THE ABOVE
✔✔Which of the following is NOT required for contract documents? - ✔✔1. Written in
easily understandable terms
2. Consistent with information provided in solicitations
3. Available for consumers to review at the time of sale before signing
4. None of the above
NONE OF THE ABOVE
✔✔Who issues the Public Offering Statement? - ✔✔The Division
✔✔When should the "duties owed" form be shown? - ✔✔During the verification process
✔✔A blanket encumbrance means any lien which encompasses - ✔✔one or more
timeshares
✔✔Timeshare, as defined by NRS 119A.140, means - ✔✔the right to use and occupy a
unit on a recurrent periodic basis according to an arrangement with various timeshare
owners.
✔✔Excluding any law, ordinance, r governmental regulation, any document creating or
regulation timeshare is known as - ✔✔the timeshare instrument
✔✔As defined by NRS 119A a unit is the - ✔✔portion of a project which is designated
for separate use
✔✔A person or entity given the responsibility and obligation for daily operation of a
timeshare resort is referred to as the - ✔✔resort manager
✔✔What is a fixed unit? - ✔✔a specific unit
✔✔Which of the following refers to that portion of a property designated for separate
use? - ✔✔Unit
✔✔The report issued by the administrator authorizing a developer to offer to sell or sell
timeshares is the - ✔✔Public Offering Statement (POS)
✔✔The person who is the equitable or the legal owner of a timeshare is the - ✔✔owner
✔✔If you were employed to invite people to attend a timeshare presentation, you would
be REQUIRED by law to be registered as a - ✔✔representative
GUARANTEE A+
✔✔The Real Estate Division is considered - ✔✔an administrative unit of state
government
✔✔How often is a timeshare agent REQUIRED to complete continuing education? -
✔✔Every 24 months (2 years)
✔✔The Nevada regulations governing Public Offering statement in timeshare sales are
very specific. One such rule covers a project's Public Offering Statement warning
message. Which statement is TRUE? - ✔✔The warning message must be printed in
RED.
✔✔In an agency relationship: - ✔✔an agent must disclose material facts to prospective
purchaser.
✔✔The Duties Owed by a Nevada Real Estate Licensee: - ✔✔must be given to each
prospective purchaser before any contract is signed.
✔✔A timeshare sales agent is at a point in the sales presentation where the prospective
purchaser is reaching for their checkbook. The sales agent has done a great job and the
deal is going to be linked. Before the sales agent can take the money, what must be
done? - ✔✔A copy of the Public Offering statement should be given to the purchaser.
✔✔Which agency in Nevada issues the Public Offering Statement? (POS) - ✔✔Real
Estate Division
✔✔Which document MUST be received and signed by the purchaser before the
execution of any contract for the sale of a timeshare? - ✔✔Public Offering Statement
(POS)
✔✔Which document MUST be received and signed by the purchaser before the
execution of any contract for the sale of a timeshare? - ✔✔Public Offering Statement
(POS)
✔✔Under NRS 119A, the notice of cancellation may be delivered to the developer in all
of the following methods EXCEPT by - ✔✔electronic mail to the address shown on the
project information (all cancellations in WRITING and delivered - mail, fax, UPS etc)
✔✔What is normally included in the annual maintenance fee charged in a timeshare
program? - ✔✔1. Taxes and insurance
2. Replacement of furniture
3. Maintenance of rooms
, 4. All of the above
ALL OF THE ABOVE
✔✔Which of the following is NOT required for contract documents? - ✔✔1. Written in
easily understandable terms
2. Consistent with information provided in solicitations
3. Available for consumers to review at the time of sale before signing
4. None of the above
NONE OF THE ABOVE
✔✔Who issues the Public Offering Statement? - ✔✔The Division
✔✔When should the "duties owed" form be shown? - ✔✔During the verification process
✔✔A blanket encumbrance means any lien which encompasses - ✔✔one or more
timeshares
✔✔Timeshare, as defined by NRS 119A.140, means - ✔✔the right to use and occupy a
unit on a recurrent periodic basis according to an arrangement with various timeshare
owners.
✔✔Excluding any law, ordinance, r governmental regulation, any document creating or
regulation timeshare is known as - ✔✔the timeshare instrument
✔✔As defined by NRS 119A a unit is the - ✔✔portion of a project which is designated
for separate use
✔✔A person or entity given the responsibility and obligation for daily operation of a
timeshare resort is referred to as the - ✔✔resort manager
✔✔What is a fixed unit? - ✔✔a specific unit
✔✔Which of the following refers to that portion of a property designated for separate
use? - ✔✔Unit
✔✔The report issued by the administrator authorizing a developer to offer to sell or sell
timeshares is the - ✔✔Public Offering Statement (POS)
✔✔The person who is the equitable or the legal owner of a timeshare is the - ✔✔owner
✔✔If you were employed to invite people to attend a timeshare presentation, you would
be REQUIRED by law to be registered as a - ✔✔representative
