NV Real Estate Exam Review Questions With
Correct Answers
Agency - CORRECT ANSWER✔✔-Relationship between the principal (client) and
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agent.
Business - CORRECT ANSWER✔✔-Tangible assets of an existing enterprise.
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Define Business broker:
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What are the requirements for a permit - CORRECT ANSWER✔✔-RE broker,
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broker-salesman, or salesman who sells businesses. | | | | |
-minimum 24 hours of instruction | | | |
-$40 permit |
-$75 examination fee (must pass 75%)
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Owner-Developer - CORRECT ANSWER✔✔-Owns 5+ Lots within a subdivision | | | | | | | |
Real Estate Division - CORRECT ANSWER✔✔-1. The RE Division of the Department
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of the Business Industry
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2. Regulates RE Practice in NV
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3. Administers NRS 645
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4. NV Attorney General acts as Divisions Attorney
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, Commission according to NRS 645 - CORRECT ANSWER✔✔-Refers to the RE
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Commission in NV | |
1. 5 members, maximum 2 from same county
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2. US citizens, NV residents 5 yrs
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3. Maximum 6 yrs
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4. 2 meetings per year
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5. $150 per day
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Used Manufactured or Mobile Home - CORRECT ANSWER✔✔-1. Occupied before
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or after the sale or lease
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2. Only can sell if used
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Administrator - CORRECT ANSWER✔✔-1. CEO of the Division - heads Division
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2. FT employee of state of NV
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3. Must not be active RE licensee
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How much experience time is needed to obtain a brokers license if you were
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previously outside of Nevada? - CORRECT ANSWER✔✔-2 of the 4 immediate
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preceeding years the applicant was a full time RE licensee
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Active Experience according to NRS 645 - CORRECT ANSWER✔✔-30hrs per week
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for min 48 weeks per year
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Correct Answers
Agency - CORRECT ANSWER✔✔-Relationship between the principal (client) and
| | | | | | | | |
agent.
Business - CORRECT ANSWER✔✔-Tangible assets of an existing enterprise.
| | | | | | | |
Define Business broker:
| |
What are the requirements for a permit - CORRECT ANSWER✔✔-RE broker,
| | | | | | | | | | |
broker-salesman, or salesman who sells businesses. | | | | |
-minimum 24 hours of instruction | | | |
-$40 permit |
-$75 examination fee (must pass 75%)
| | | | |
Owner-Developer - CORRECT ANSWER✔✔-Owns 5+ Lots within a subdivision | | | | | | | |
Real Estate Division - CORRECT ANSWER✔✔-1. The RE Division of the Department
| | | | | | | | | | |
of the Business Industry
| | | |
2. Regulates RE Practice in NV
| | | | |
3. Administers NRS 645
| | |
4. NV Attorney General acts as Divisions Attorney
| | | | | | |
, Commission according to NRS 645 - CORRECT ANSWER✔✔-Refers to the RE
| | | | | | | | | | |
Commission in NV | |
1. 5 members, maximum 2 from same county
| | | | | | |
2. US citizens, NV residents 5 yrs
| | | | | |
3. Maximum 6 yrs
| | |
4. 2 meetings per year
| | | |
5. $150 per day
| | |
Used Manufactured or Mobile Home - CORRECT ANSWER✔✔-1. Occupied before
| | | | | | | | | |
or after the sale or lease
| | | | |
2. Only can sell if used
| | | | |
Administrator - CORRECT ANSWER✔✔-1. CEO of the Division - heads Division
| | | | | | | | | |
2. FT employee of state of NV
| | | | | |
3. Must not be active RE licensee
| | | | | |
How much experience time is needed to obtain a brokers license if you were
| | | | | | | | | | | | | |
previously outside of Nevada? - CORRECT ANSWER✔✔-2 of the 4 immediate
| | | | | | | | | | |
preceeding years the applicant was a full time RE licensee
| | | | | | | | |
Active Experience according to NRS 645 - CORRECT ANSWER✔✔-30hrs per week
| | | | | | | | | | |
for min 48 weeks per year
| | | | |
