©PREP4EXAMS@2024/2025 REAL EXAM DUMPS Monday@ August 5@ 2024 6@07 PM
Timeshare Test #1 Questions and Answers (100% Pass)
An owner who has a leasehold in a timeshare condominium has:
A. Whole ownership
B. Fee simple ownership
C. Interval of time
D. Cooperative - Answer✔️✔️-C. Interval of time
A timeshare agent is a person who is
A. Project Broker
B. Person who sells timeshares on behalf of a developer
C. Person who induces others to attend a timeshare presentation - Answer✔️✔️-B.
Person who sells timeshares on behalf of a developer
Until closing, all monies, negotiable instruments or other deposits pertaining to the
sale of a timeshare must be placed in:
,©PREP4EXAMS@2024/2025 REAL EXAM DUMPS Monday@ August 5@ 2024 6@07 PM
A. An escrow agent account approved by the Division
B. A trustee account approved by the Division
C. Brokers personal bank account
D. Brokers trust account - Answer✔️✔️-A. An escrow agent account approved by
the Division
Which document must be reviewed and signed by the purchaser before the
execution of any contract for the sale of the timeshare:
A. Truth in Lending
B. Public offering Statement
C. Acknowledgments
D. Purchase agreement - Answer✔️✔️-B. Public offering Statement
A right to use timeshare project offers the purchaser of a timeshare interest:
A. Fee simple interest
, ©PREP4EXAMS@2024/2025 REAL EXAM DUMPS Monday@ August 5@ 2024 6@07 PM
B. Membership in a club
C. Tenancy in common
D. Joint tenancy - Answer✔️✔️-B. Membership in a club
Developers must comply with laws from what government agency? - Answer✔️✔️-
Federal, City, and State
A state in NRS 119A.120 who is defined as a representative? - Answer✔️✔️-A
person who is not a sales agent but who on behalf of developer induces other
persons to attend a sales presentation
Who or what below is not included in the definition of a "Person" as stated in NRS
119A.070?
A. A government
B. A purchaser
C. A government agency
D. A political subdivision of a government - Answer✔️✔️-B. A purchaser
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
Timeshare Test #1 Questions and Answers (100% Pass)
An owner who has a leasehold in a timeshare condominium has:
A. Whole ownership
B. Fee simple ownership
C. Interval of time
D. Cooperative - Answer✔️✔️-C. Interval of time
A timeshare agent is a person who is
A. Project Broker
B. Person who sells timeshares on behalf of a developer
C. Person who induces others to attend a timeshare presentation - Answer✔️✔️-B.
Person who sells timeshares on behalf of a developer
Until closing, all monies, negotiable instruments or other deposits pertaining to the
sale of a timeshare must be placed in:
,©PREP4EXAMS@2024/2025 REAL EXAM DUMPS Monday@ August 5@ 2024 6@07 PM
A. An escrow agent account approved by the Division
B. A trustee account approved by the Division
C. Brokers personal bank account
D. Brokers trust account - Answer✔️✔️-A. An escrow agent account approved by
the Division
Which document must be reviewed and signed by the purchaser before the
execution of any contract for the sale of the timeshare:
A. Truth in Lending
B. Public offering Statement
C. Acknowledgments
D. Purchase agreement - Answer✔️✔️-B. Public offering Statement
A right to use timeshare project offers the purchaser of a timeshare interest:
A. Fee simple interest
, ©PREP4EXAMS@2024/2025 REAL EXAM DUMPS Monday@ August 5@ 2024 6@07 PM
B. Membership in a club
C. Tenancy in common
D. Joint tenancy - Answer✔️✔️-B. Membership in a club
Developers must comply with laws from what government agency? - Answer✔️✔️-
Federal, City, and State
A state in NRS 119A.120 who is defined as a representative? - Answer✔️✔️-A
person who is not a sales agent but who on behalf of developer induces other
persons to attend a sales presentation
Who or what below is not included in the definition of a "Person" as stated in NRS
119A.070?
A. A government
B. A purchaser
C. A government agency
D. A political subdivision of a government - Answer✔️✔️-B. A purchaser
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
