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TIMESHARE TEST 1 EXAM QUESTIONS AND ANSWERS 100% SOLVED

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An owner who has a leasehold in a timeshare condominium has: A. Whole ownership B. Fee simple ownership C. Interval of time D. Cooperative - ANSWERC. 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 - ANSWERB. 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 - ANSWERA. 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 - ANSWERB. 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 - ANSWERB. Membership in a club Developers must comply with laws from what government agency? - ANSWERFederal,

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TIMESHARE TEST 1 EXAM QUESTIONS
AND ANSWERS 100% SOLVED

, An owner who has a leasehold in a timeshare condominium has:

A. Whole ownership
B. Fee simple ownership
C. Interval of time
D. Cooperative - ANSWERC. 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 - ANSWERB. 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 - ANSWERA. 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 - ANSWERB. 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 - ANSWERB. Membership in a club

Developers must comply with laws from what government agency? - ANSWERFederal,
City, and State

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