Nevada State Real Estate Final Exam correct Questions and Answers

Nevada State Real Estate Final Exam correct Questions and Answers The office manager for a local real estate firm is responsible for the following activities: coordinating the flow of paperwork through the office preparing forms and advertising copy and hiring and supervising clerical personnel. In this situation the office manager is Exempt from real estate licensing requirement A non-resident must file a consent to service of process with the administrator which allows a law suit to serve upon the admin rather than acquiring the plaintiff to file in the state of the non resident A consent to service process Buyer prospect is interested in seeing a house listed with Compton Real Estate. The buyer does not wish to enter in a buyer agency agreement. Sales person from Compton RE can show the buyer an in-house listing if? Sales-person provides the buyer with an agency disclosure that the RE company represent only the seller A person obtain a Nevada cooperative certificate HE or SHE must Be a licensed as a broker from another state Which of the following statement regarding the Nevada RE commission is false Member of the commission are appointed by REALTORS Whenever the RED is required to satisfy the claim against a licensee with money from RE education research and recovery funds the licensee must repay the full amount plus interest to the account if his license is to be reinstated 250 acre parcel is divided into a 10 acre lot this subdivision is exempt from registration ( below 34 exempt above 35 registor ) which of the following would satisfy the education requirement for renewing a licensing the first time in Nevada 30 classroom hours of instruction including 6 hours of law and ethics Maximum number number of sales-person can attempt to sell a time share promotion 2 Can an agent disclose a published murder in the unit or if the owner contracted AIDS and died in the unit Specifically relieved of the liability for not disclosing either of these events The city of Reno Nevada requires a city RE license before compensated real estate activity is allowed in that city , is this allowed Yes and Reno may require schooling and a separate test for certification Broker receives an earnest money deposit from a buyer payable to the brokerage Under Nevada the broker should Hold the money in a secure place in the brokerage office until the offer is accepetd then deposit into the brokerage trust account within one bankind day When must a seller Real property disclosure form be delivered ten days before closing unless waived in writing and notarized May not hold a RE License Divisionemployee depository -financial-institution person under suspension Must be licensed before you are able to get payed a commision No state law Prohibits lawsuit to collect commision unless injured party is a licensee and the license was in effect before agreement was reached which of the following option is NOT EXEMPT from the sellers Real property Disclosure Form A sale by a real estate licensee of two unit residential property Tim a broker is a licensed in California only. Tim wants to sell Lots in Nevada as mobile home site to California clients as winter homes. Tim may do this if Obtains a cooperating certification to work through a Nevada broker the licensing law in Nevada requires that the broker discloses information that materially affects the property even when the buyer does not ask for it An Oregon broker wishes to help his brother in law , a Nevada broker's resort area listings in lake tahoe. all of the following are true regarding a cooperative certification issued in Oregon broker except that the certification is valid for two year ------------------ (a coorperative Certification is only Valid for a year ) In order to rececieve a exemption to register a for a large lot subd