An |owner |who |has |a |leasehold |in |a |timeshare |condominium |has: |
A. |Whole |ownership |
B. |Fee |simple |ownership
C. |Interval |of |time
D. |Cooperative |- |correct |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 |- |correct |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: |
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 |- |correct |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 |- |correct |answer |-B. |Public |offering |Statement
A |right |to |use |timeshare |project |offers |the |purchaser |of |a |timeshare |interest: |
A. |Fee |simple |interest
B. |Membership |in |a |club
C. |Tenancy |in |common
D. |Joint |tenancy |- |correct |answer |-B. |Membership |in |a |club
Developers |must |comply |with |laws |from |what |government |agency? |- |correct |answer |-
Federal, |City, |and |State
A |state |in |NRS |119A.120 |who |is |defined |as |a |representative? |- |correct |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 |- |correct |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
A. |Whole |ownership |
B. |Fee |simple |ownership
C. |Interval |of |time
D. |Cooperative |- |correct |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 |- |correct |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: |
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 |- |correct |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 |- |correct |answer |-B. |Public |offering |Statement
A |right |to |use |timeshare |project |offers |the |purchaser |of |a |timeshare |interest: |
A. |Fee |simple |interest
B. |Membership |in |a |club
C. |Tenancy |in |common
D. |Joint |tenancy |- |correct |answer |-B. |Membership |in |a |club
Developers |must |comply |with |laws |from |what |government |agency? |- |correct |answer |-
Federal, |City, |and |State
A |state |in |NRS |119A.120 |who |is |defined |as |a |representative? |- |correct |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 |- |correct |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
