Nevada Real Estate Exam Questions
and Correct Answers| Updated
Agency
Relationship between the principal (client) and agent.
Business
Tangible assets of an existing enterprise.
Define Business broker:
What are the requirements for a permit
RE broker, broker-salesman, or salesman who sells businesses.
-minimum 24 hours of instruction
-$40 permit
-$75 examination fee (must pass 75%)
Owner-Developer
,Owns 5+ Lots within a subdivision
Real Estate Division
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
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
1. Occupied before or after the sale or lease
2. Only can sell if used
, Administrator
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?
2 of the 4 immediate preceding years the applicant was a full time RE licensee
Active Experience according to NRS 645
30hrs per week for min 48 weeks per year
Advisory Committee
Established to help Commission handle any issues to carry out the license laws
If someone has been convicted, plead guilty or no contest for a felony, they
cannot receive a license until?
and Correct Answers| Updated
Agency
Relationship between the principal (client) and agent.
Business
Tangible assets of an existing enterprise.
Define Business broker:
What are the requirements for a permit
RE broker, broker-salesman, or salesman who sells businesses.
-minimum 24 hours of instruction
-$40 permit
-$75 examination fee (must pass 75%)
Owner-Developer
,Owns 5+ Lots within a subdivision
Real Estate Division
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
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
1. Occupied before or after the sale or lease
2. Only can sell if used
, Administrator
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?
2 of the 4 immediate preceding years the applicant was a full time RE licensee
Active Experience according to NRS 645
30hrs per week for min 48 weeks per year
Advisory Committee
Established to help Commission handle any issues to carry out the license laws
If someone has been convicted, plead guilty or no contest for a felony, they
cannot receive a license until?
