TIMESHARE LICENSE FINAL PAPER 2026
CERTIFICATION EVALUATION QUESTIONS
AND SOLUTIONS GRADED A+
●● The law that regulates real estate in Nevada is:
Answer: NRS 645
●● Who appoints the Administrator of the Real Estate Division?
Answer: The Director of the Department of Business and Industry
●● Who appoints the Director of the Department of Business and
Industry?
Answer: Governor
●● Who selects and appoints the Project Broker?
Answer: Developer
●● If a timeshare agent initially becomes licensed on June 6, 2000,
when will the license expire?
Answer: June 30, 2002
,●● If a Sales Agent allows their license to expire, there is a 1 year grace
period in which they can still renew. In addition to the cost of the
required 6 hours of continuing education, and license fee, the Agent will
also have to pay for new fingerprints, and a Late Renewal Penalty of
$________ to the Real Estate Division. How much is this penalty?
Answer: $100
●● A timeshare owner with the same numbered week of ownership each
year has...
Answer: Fixed use
●● What is fractional ownership?
Answer: Ownership of an interval of 1 month to one-half year
●● Having timeshare ownership that may be used seasonally or for a
different week each year based on available and requiring a reservation
is known as...
Answer: Floating use
●● Which of the following reasons would NOT be cause for the Real
Estate Division to deny an application for timeshare sales license?
Answer: Driving Record
,●● You have just completed making a timeshare sale. Your buyers go
back to their hotel, and after dinner and a few cocktails, they have
second thoughts about the purchase. Can they change their minds and
get out of the deal?
Answer: Yes, they have to right to revoke for any reason for 5 calendar
days
●● Ted and Alice Smith have arrived at their timeshare resort and
produced the confirmed reservation for a unit. They are informed that
the unit is NOT available. Ted goes through the roof, but Alice knows
that they are entitled to all the following EXCEPT...
Answer: A full refund of their purchase price
●● Any person who, on behalf of a developer, induces other persons to
attend a sales presentation is a ...
Answer: Registered Representative
●● How many hours of continuing education are required for a licensed
Timeshare Sales Agent?
Answer: 6 hours
●● Mr. Allen was named the project broker at a Nevada timeshare
resort. For which of the following most accurately describes the people
will he be responsible for?
Answer: Sales agents and representatives
, ●● In what year did the Nevada legislature pass the statute governing
timeshare sales?
Answer: 1983
●● To effect an exchange, an owner of a floating use period MUST first
secure a specific week through which of the following?
Answer: The home resort
●● A Broker that works on behalf of a Developer of Timeshare to
coordinate and supervise all sales activities is known as a...
Answer: Project Broker
●● If the relationship changes between the Sales Agent, Developer
and/or the Broker, this must be reported to the Real Estate Division
within...
Answer: 10 days
●● The Division will issue a license to those who follow and complete
the process set forth in NRS 119a. Initially, the division will issue a...
Answer: Provisional License until satisfactory results from the FBI
fingerprint background check are received by the Division
CERTIFICATION EVALUATION QUESTIONS
AND SOLUTIONS GRADED A+
●● The law that regulates real estate in Nevada is:
Answer: NRS 645
●● Who appoints the Administrator of the Real Estate Division?
Answer: The Director of the Department of Business and Industry
●● Who appoints the Director of the Department of Business and
Industry?
Answer: Governor
●● Who selects and appoints the Project Broker?
Answer: Developer
●● If a timeshare agent initially becomes licensed on June 6, 2000,
when will the license expire?
Answer: June 30, 2002
,●● If a Sales Agent allows their license to expire, there is a 1 year grace
period in which they can still renew. In addition to the cost of the
required 6 hours of continuing education, and license fee, the Agent will
also have to pay for new fingerprints, and a Late Renewal Penalty of
$________ to the Real Estate Division. How much is this penalty?
Answer: $100
●● A timeshare owner with the same numbered week of ownership each
year has...
Answer: Fixed use
●● What is fractional ownership?
Answer: Ownership of an interval of 1 month to one-half year
●● Having timeshare ownership that may be used seasonally or for a
different week each year based on available and requiring a reservation
is known as...
Answer: Floating use
●● Which of the following reasons would NOT be cause for the Real
Estate Division to deny an application for timeshare sales license?
Answer: Driving Record
,●● You have just completed making a timeshare sale. Your buyers go
back to their hotel, and after dinner and a few cocktails, they have
second thoughts about the purchase. Can they change their minds and
get out of the deal?
Answer: Yes, they have to right to revoke for any reason for 5 calendar
days
●● Ted and Alice Smith have arrived at their timeshare resort and
produced the confirmed reservation for a unit. They are informed that
the unit is NOT available. Ted goes through the roof, but Alice knows
that they are entitled to all the following EXCEPT...
Answer: A full refund of their purchase price
●● Any person who, on behalf of a developer, induces other persons to
attend a sales presentation is a ...
Answer: Registered Representative
●● How many hours of continuing education are required for a licensed
Timeshare Sales Agent?
Answer: 6 hours
●● Mr. Allen was named the project broker at a Nevada timeshare
resort. For which of the following most accurately describes the people
will he be responsible for?
Answer: Sales agents and representatives
, ●● In what year did the Nevada legislature pass the statute governing
timeshare sales?
Answer: 1983
●● To effect an exchange, an owner of a floating use period MUST first
secure a specific week through which of the following?
Answer: The home resort
●● A Broker that works on behalf of a Developer of Timeshare to
coordinate and supervise all sales activities is known as a...
Answer: Project Broker
●● If the relationship changes between the Sales Agent, Developer
and/or the Broker, this must be reported to the Real Estate Division
within...
Answer: 10 days
●● The Division will issue a license to those who follow and complete
the process set forth in NRS 119a. Initially, the division will issue a...
Answer: Provisional License until satisfactory results from the FBI
fingerprint background check are received by the Division
