Nevada timeshare licence test with verified
solutions
1. How long is aTSA license valid for?: 2 years
| | | | | | | | |
2. If a timeshare agent initially becomes licensed on June 6,
| | | | | | | | |
2000, when will the license expire?: June 30, 2002
| | | | | | | | |
3. An applicant for an original timeshare license must provide?: An
| | | | | | | | |
application, certificates for passing the examination and for completing
| | | | | | | | |
the 14-hour pre-licensing course, and $200
| | | | | |
4. If a timeshare agent is served notice that the division has
| | | | | | | | | |
| filed charges against him/her, he/she has how many days in
| | | | | | | | |
which to file with the Division and answer to the charges?: 30
| | | | | | | | | | | |
| days
5. The developer may NOT make a material change in the
| | | | | | | | |
timeshare plan without giving the division at LEAST how
| | | | | | | | |
| many days' notice?: 10 days
| | | |
6. Which of the following is NOT necessary to form a contract?:
| | | | | | | | | |
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, performance
|
7. The essential parts of a written contract include?: competent
| | | | | | | |
parties, mutual consent, consideration, and legal obligation
| | | | | | |
8. Which of the following statements MUST be printed above the
| | | | | | | | |
purchaser's signature line in each contract for the sale of a
| | | | | | | | | | |
| timeshare?: Both A and B | | | |
9. DeveloperTyson has defaulted on his project.Which clause | | | | | | | |
provides pro- tection for prior purchasers?: Non-disturbance
| | | | | | |
| clause
10. How would a prospective purchaser get the BEST deal on a
| | | | | | | | | |
timeshare?: -
| |
Buy it from an existing owner
| | | | |
11. MOST timeshare units are sold on credit.These lending
| | | | | | | |
| arrangements MUST comply with Regulation Z of the Federal | | | | | | | |
Reserve Board.The PRIMARY purpose of Regulation Z, as
| | | | | | | | |
| applied to timeshare sales, is to assure:: Full disclosure of all the
| | | | | | | | | | |
| financing cost and charges | | |
12. The Federal reserves board's Regulation Z is applicable toall of
| | | | | | | | | |
2 |/
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, the follow- ing?: All of the above (Fees, right to use, campsite
| | | | | | | | | | | |
| membership)
13. Financing of individual units sales is the most often | | | | | | | |
provided by?: The developer
| | | |
14. Anyone purchasing timeshare MUST: sign a written contract | | | | | | |
15. After a purchaser has signed the timeshare purchase
| | | | | | |
agreement, the pur- chaser may: Cancel the agreement at any time
| | | | | | | | | | |
| in the next 5 days
| | | |
16. it is discovered that the title of a project is "unmerchantable"
| | | | | | | | | |
because an easement has been found which may NOT be
| | | | | | | | | |
| removed.What should a time- share agent do?: Not to attempt to| | | | | | | | | | |
| sell a unit where the title iss unmerchantable
| | | | | | |
17. Ted and Alice have arrived at their timeshare resort and
| | | | | | | | |
produce the con- firmed reservation for a unit they are informed
| | | | | | | | | | |
| that the unit is NOT available. Ted goes through the roof,but Alice
| | | | | | | | | | | |
has read up onTimeshare Owner's Rights in Nevada. She listens
| | | | | | | | | | |
| politely to the apologies of the desk clerk and then demands to
| | | | | | | | | | |
| see the representative of the owner's association, if there is no
| | | | | | | | | |
3 |/
|17
solutions
1. How long is aTSA license valid for?: 2 years
| | | | | | | | |
2. If a timeshare agent initially becomes licensed on June 6,
| | | | | | | | |
2000, when will the license expire?: June 30, 2002
| | | | | | | | |
3. An applicant for an original timeshare license must provide?: An
| | | | | | | | |
application, certificates for passing the examination and for completing
| | | | | | | | |
the 14-hour pre-licensing course, and $200
| | | | | |
4. If a timeshare agent is served notice that the division has
| | | | | | | | | |
| filed charges against him/her, he/she has how many days in
| | | | | | | | |
which to file with the Division and answer to the charges?: 30
| | | | | | | | | | | |
| days
5. The developer may NOT make a material change in the
| | | | | | | | |
timeshare plan without giving the division at LEAST how
| | | | | | | | |
| many days' notice?: 10 days
| | | |
6. Which of the following is NOT necessary to form a contract?:
| | | | | | | | | |
1 |/
|17
, performance
|
7. The essential parts of a written contract include?: competent
| | | | | | | |
parties, mutual consent, consideration, and legal obligation
| | | | | | |
8. Which of the following statements MUST be printed above the
| | | | | | | | |
purchaser's signature line in each contract for the sale of a
| | | | | | | | | | |
| timeshare?: Both A and B | | | |
9. DeveloperTyson has defaulted on his project.Which clause | | | | | | | |
provides pro- tection for prior purchasers?: Non-disturbance
| | | | | | |
| clause
10. How would a prospective purchaser get the BEST deal on a
| | | | | | | | | |
timeshare?: -
| |
Buy it from an existing owner
| | | | |
11. MOST timeshare units are sold on credit.These lending
| | | | | | | |
| arrangements MUST comply with Regulation Z of the Federal | | | | | | | |
Reserve Board.The PRIMARY purpose of Regulation Z, as
| | | | | | | | |
| applied to timeshare sales, is to assure:: Full disclosure of all the
| | | | | | | | | | |
| financing cost and charges | | |
12. The Federal reserves board's Regulation Z is applicable toall of
| | | | | | | | | |
2 |/
|17
, the follow- ing?: All of the above (Fees, right to use, campsite
| | | | | | | | | | | |
| membership)
13. Financing of individual units sales is the most often | | | | | | | |
provided by?: The developer
| | | |
14. Anyone purchasing timeshare MUST: sign a written contract | | | | | | |
15. After a purchaser has signed the timeshare purchase
| | | | | | |
agreement, the pur- chaser may: Cancel the agreement at any time
| | | | | | | | | | |
| in the next 5 days
| | | |
16. it is discovered that the title of a project is "unmerchantable"
| | | | | | | | | |
because an easement has been found which may NOT be
| | | | | | | | | |
| removed.What should a time- share agent do?: Not to attempt to| | | | | | | | | | |
| sell a unit where the title iss unmerchantable
| | | | | | |
17. Ted and Alice have arrived at their timeshare resort and
| | | | | | | | |
produce the con- firmed reservation for a unit they are informed
| | | | | | | | | | |
| that the unit is NOT available. Ted goes through the roof,but Alice
| | | | | | | | | | | |
has read up onTimeshare Owner's Rights in Nevada. She listens
| | | | | | | | | | |
| politely to the apologies of the desk clerk and then demands to
| | | | | | | | | | |
| see the representative of the owner's association, if there is no
| | | | | | | | | |
3 |/
|17
