"Unit" |as |used |in |NRS |119A |means: |
a. |A |lot |of |any |size |
b. |The |total |timeshare |unit
c. |That |portion |of |a |project |which |is |designated |for |separate |use
d. |A |tract |of |land |consisting |of |15 |acres |or |more |- |correct |answer |-That |portion |of |a |project
|which |is |designated |for |separate |use
A |timeshare |resort |having |both |whole |unit |owners |and |timeshare |interest |owners |is
|referred |to |as: |
a. |vacation |destination |resort
b. |tenancy |in |severalty |resort
c. |timeshare |trust
d. |mixed |used |resort |- |correct |answer |-mixed |used |resort
In |Nevada |a |licensee |who |acts |as |an |agent |in |a |real |estate |transaction |must |disclose |the
|duties |owned |to |each |party |to |the |Real |Estate |transaction. |The |intent |of |the |law |is |to: |
a. |inform |the |parties |of |their |legal |rights
b. |inform |the |parties |of |the |licensee's |obligation |to |each |of |the |parties |under |the |timeshare
|contract
c. |inform |the |prospective |purchaser |of |the |duties |owned |by |the |developer |
, d. |both |A |& |B |- |correct |answer |-inform |the |parties |of |the |licensee's |obligation |to |each |of
|the |parties |under |the |timeshare |contract
If |a |preliminary |permit |is |issued |to |a |timeshare |developer |which |conditions |must |be |met?
a. |the |developer |must |deliver |a |bond |or |cash |deposit |to |cover |completion
b. |developer |assures |all |deposits |are |refundable
c. |the |permit |must |contain |the |estimated |date |of |completion
d. |All |of |the |above |conditions |must |be |satisfied |- |correct |answer |-d. |All |of |the |above
|conditions |must |be |satisfied
The |term |"Floating |Time" |refers |to: |
a. |an |exchange |program
b. |a |non-specific |use |period |within |a |season |or |broader |time |period
c. |maritime |timesharing
d. |right |to |use |- |correct |answer |-b. |a |non-specific |use |period |within |a |season |or |broader
|time |period
A |timeshare |deed |is |always |subject |to: |
a. |approval |of |the |Administrator
b. |a |declaration |
c. |a |financing |statement
d. |a |mortgage |- |correct |answer |-a. |approval |of |the |Administrator
The |name |of |the |state |mandated |disclosure |document |required |to |be |provided |to |a
|prospective |purchaser |to |purchase |a |timeshare |is: |
a. |A |lot |of |any |size |
b. |The |total |timeshare |unit
c. |That |portion |of |a |project |which |is |designated |for |separate |use
d. |A |tract |of |land |consisting |of |15 |acres |or |more |- |correct |answer |-That |portion |of |a |project
|which |is |designated |for |separate |use
A |timeshare |resort |having |both |whole |unit |owners |and |timeshare |interest |owners |is
|referred |to |as: |
a. |vacation |destination |resort
b. |tenancy |in |severalty |resort
c. |timeshare |trust
d. |mixed |used |resort |- |correct |answer |-mixed |used |resort
In |Nevada |a |licensee |who |acts |as |an |agent |in |a |real |estate |transaction |must |disclose |the
|duties |owned |to |each |party |to |the |Real |Estate |transaction. |The |intent |of |the |law |is |to: |
a. |inform |the |parties |of |their |legal |rights
b. |inform |the |parties |of |the |licensee's |obligation |to |each |of |the |parties |under |the |timeshare
|contract
c. |inform |the |prospective |purchaser |of |the |duties |owned |by |the |developer |
, d. |both |A |& |B |- |correct |answer |-inform |the |parties |of |the |licensee's |obligation |to |each |of
|the |parties |under |the |timeshare |contract
If |a |preliminary |permit |is |issued |to |a |timeshare |developer |which |conditions |must |be |met?
a. |the |developer |must |deliver |a |bond |or |cash |deposit |to |cover |completion
b. |developer |assures |all |deposits |are |refundable
c. |the |permit |must |contain |the |estimated |date |of |completion
d. |All |of |the |above |conditions |must |be |satisfied |- |correct |answer |-d. |All |of |the |above
|conditions |must |be |satisfied
The |term |"Floating |Time" |refers |to: |
a. |an |exchange |program
b. |a |non-specific |use |period |within |a |season |or |broader |time |period
c. |maritime |timesharing
d. |right |to |use |- |correct |answer |-b. |a |non-specific |use |period |within |a |season |or |broader
|time |period
A |timeshare |deed |is |always |subject |to: |
a. |approval |of |the |Administrator
b. |a |declaration |
c. |a |financing |statement
d. |a |mortgage |- |correct |answer |-a. |approval |of |the |Administrator
The |name |of |the |state |mandated |disclosure |document |required |to |be |provided |to |a
|prospective |purchaser |to |purchase |a |timeshare |is: |
