TIMESHARE UPDATED EXAM SCRIPT QUESTIONS AND
ANSWERS GUARANTEE A+
✔✔As stated in NRS 119A.370 a timeshare must not be offered for sale in this state
until the advertisement or offering is approved by the division
A. True.
B. False. - ✔✔A. True
✔✔Timeshares and timeshare projects, as referred to in the NRD 119A.200, are subject
to licensing by local governments for revenue:
A. True.
B. False. - ✔✔A. True.
✔✔The sale of a timeshare or transfer of a timeshare that was previously sold to a
purchaser is.. - ✔✔Timeshare resale
✔✔When a timeshare resort offers a purchaser the use of a timeshare interval at
different times of the year with reservations based on availability this concept is called...
- ✔✔Floating Time
✔✔A person who wishes to list, advertise for sale, solicit prospective purchasers or
promote or resell 12 or more timeshares that were previously sold must:
A. Be a selling agent
B. Be licensed as a Real Estate Broker pursuant to the provisions of NRS 645 and
register as a timeshare Resale Broker with the Division by completing a form for
registration provided by the Division.
C. Be a management Agent - ✔✔B. Be licensed as a Real Estate Broker pursuant to
the provisions of NRS 645 and register as a timeshare Resale Broker with the Division
by completing a form for registration provided by the Division.
✔✔In a timeshare program the annual maintenance fee charged normally includes:
A. Taxes and Insurance
B. Replacement of furniture
c. Maintenance of rooms
D. All of the above - ✔✔D. All of the above
✔✔The minimum age for a person to receive a timeshare license is: - ✔✔18
✔✔In Nevada which of the following statements are true?
, A. There is a five day recession
B. All timeshare sellers are required to be licensed
C. False or deceptive advertising be barred
D. All the above - ✔✔D. All the above
✔✔A project broker shall give written notice to the Real Estate Division of a change of
association of any sales agent affiliated with him within: - ✔✔10 days
✔✔In a timeshare project who is responsible for the acts of each person whom he
employs or engages to represent him?
A. Developer
B. Project Broker
C. Both - ✔✔C. Both
✔✔Who is not an affiliate as defined in NRS 119A?
A. Sales Agent
B. General Partner
c. Officer
D. Director - ✔✔A. Sales Agent
✔✔To effect an exchange, an owner of a floating use period must first secure a specific
week at the home resort through which of the following?
A. The Real Estate Division
B. The Exchange Company
C. Their Sales Agent
D. Their Home Resort - ✔✔D. Their Home Resort
✔✔Maintenance week or weeks may be used for:
A. Maintenance and refurbishing
B. Exchange
C. Rental
D. None of the above - ✔✔A. Maintenance and refurbishing
✔✔The term applying to each member of a group of persons owning an undivided
interest in the same parcel of real estate in a timeshare unit is: - ✔✔Tenants in
Common
✔✔Which of the following statements about licensed timeshare sales agents are true?
A. Sales agent can sell timeshare interests at any place his broker designates.
ANSWERS GUARANTEE A+
✔✔As stated in NRS 119A.370 a timeshare must not be offered for sale in this state
until the advertisement or offering is approved by the division
A. True.
B. False. - ✔✔A. True
✔✔Timeshares and timeshare projects, as referred to in the NRD 119A.200, are subject
to licensing by local governments for revenue:
A. True.
B. False. - ✔✔A. True.
✔✔The sale of a timeshare or transfer of a timeshare that was previously sold to a
purchaser is.. - ✔✔Timeshare resale
✔✔When a timeshare resort offers a purchaser the use of a timeshare interval at
different times of the year with reservations based on availability this concept is called...
- ✔✔Floating Time
✔✔A person who wishes to list, advertise for sale, solicit prospective purchasers or
promote or resell 12 or more timeshares that were previously sold must:
A. Be a selling agent
B. Be licensed as a Real Estate Broker pursuant to the provisions of NRS 645 and
register as a timeshare Resale Broker with the Division by completing a form for
registration provided by the Division.
C. Be a management Agent - ✔✔B. Be licensed as a Real Estate Broker pursuant to
the provisions of NRS 645 and register as a timeshare Resale Broker with the Division
by completing a form for registration provided by the Division.
✔✔In a timeshare program the annual maintenance fee charged normally includes:
A. Taxes and Insurance
B. Replacement of furniture
c. Maintenance of rooms
D. All of the above - ✔✔D. All of the above
✔✔The minimum age for a person to receive a timeshare license is: - ✔✔18
✔✔In Nevada which of the following statements are true?
, A. There is a five day recession
B. All timeshare sellers are required to be licensed
C. False or deceptive advertising be barred
D. All the above - ✔✔D. All the above
✔✔A project broker shall give written notice to the Real Estate Division of a change of
association of any sales agent affiliated with him within: - ✔✔10 days
✔✔In a timeshare project who is responsible for the acts of each person whom he
employs or engages to represent him?
A. Developer
B. Project Broker
C. Both - ✔✔C. Both
✔✔Who is not an affiliate as defined in NRS 119A?
A. Sales Agent
B. General Partner
c. Officer
D. Director - ✔✔A. Sales Agent
✔✔To effect an exchange, an owner of a floating use period must first secure a specific
week at the home resort through which of the following?
A. The Real Estate Division
B. The Exchange Company
C. Their Sales Agent
D. Their Home Resort - ✔✔D. Their Home Resort
✔✔Maintenance week or weeks may be used for:
A. Maintenance and refurbishing
B. Exchange
C. Rental
D. None of the above - ✔✔A. Maintenance and refurbishing
✔✔The term applying to each member of a group of persons owning an undivided
interest in the same parcel of real estate in a timeshare unit is: - ✔✔Tenants in
Common
✔✔Which of the following statements about licensed timeshare sales agents are true?
A. Sales agent can sell timeshare interests at any place his broker designates.
