NSAR SALESPERSON LICENSING ACTUAL
TEST QUESTIONS WITH COMPLETE
SOLUTION VERIFIED RESOURCE
●● D: Nevada Real Estate Division Offices
Answer: • Must have a principal office and branch offices
• The principal office may be in the Southern part of the state
• Las Vegas, Nevada
• While a branch office may be in the Northern part of the state
• Carson City, Nevada
●● D: Nevada Real Estate Division Consists of:
Answer: • Customer service and licensing department
• Education department
• Investigating department
• Administrative department
• Support staff
●● D: Nevada Real Estate Division Employee's Requirements
Answer: • Cannot have a Nevada Real Estate license
• Cannot have a personal/financial interest in a Nevada real estate
company
,●● D: Which Nevada Real Estate Records Are Open to the Public?
Answer: • All Nevada real estate records held at the Division are open to
the public, EXCEPT:
• Broker, broker-salesperson and salesperson examinations
• Criminal and financial records of licensees, applicants or owner-
developers
• If court ordered, these records are also open to the public
●● D: Nevada Real Estate Division Duties
Answer: • Administer the provisions under NAC/NRS
• Day to day activities such as:
• Issuing and renewing Nevada licenses
• Collecting fines against Nevada licensees
• Investigating NV real property activities
against NV licensees when warranted
• Checking Nevada broker's and owner
developer's offices when warranted
• Prepare and distribute forms for duties owed by a Nevada licensee who
is acting for:
• Only one party to a real estate transaction
• More than one party to a real estate
transaction
,• A Nevada real estate broker who assigns
different Nevada licensees affiliated with his
brokerage to separate parties to a real
estate transaction
• Prepare a booklet concerning certain Nevada disclosures required in
sale of Nevada residential property
• Sellers Real Property Disclosure Form
• Make copies and make available to Nevada
licensees for distribution to buyers and
sellers
• NVRED must approve the format of such
booklet
●● D: Who helps the NV Real Estate Division
Answer: • The NV Attorney General acts as advisor to the NVRED
• The NV Attorney General will defend the NVRED against any action
brought against them
●● D: Where are NV Licensee's Fees, Penalties & Charges Placed?
Answer: • Nevada State General Fund EXCEPT for the following:
• Sale of Publications of various forms and NRS/NAC regulations
• Examinations
• NVERRF funds collected from Nevada licensees and Nevada brokers
, ●● Q: The NVRED administers the provisions of NRS and NAC
Answer: True
●● Q: The ERRF is part of the NV State General Fund
Answer: False.
●● D: When A Consumer Complains About A NV Licensee to NVRED
Answer: Consumer must bring written statement of fact to NVRED
NVRED investigator investigates with two possible outcomes
Dismiss without prejudice or;
Turn complaint over to NVREDA
NVREDA has two possible outcomes
If not a NV licensee
It is turned over to NV District Attorney or NV AG
If Guilty - Felony D
If a Nevada licensee
Set up hearing with NVREC within 90 days
Informal decision within 15 days
Formal decision within 60 days
May appeal within 30 days on matters of law, never on fine amount to
appellate or district court
TEST QUESTIONS WITH COMPLETE
SOLUTION VERIFIED RESOURCE
●● D: Nevada Real Estate Division Offices
Answer: • Must have a principal office and branch offices
• The principal office may be in the Southern part of the state
• Las Vegas, Nevada
• While a branch office may be in the Northern part of the state
• Carson City, Nevada
●● D: Nevada Real Estate Division Consists of:
Answer: • Customer service and licensing department
• Education department
• Investigating department
• Administrative department
• Support staff
●● D: Nevada Real Estate Division Employee's Requirements
Answer: • Cannot have a Nevada Real Estate license
• Cannot have a personal/financial interest in a Nevada real estate
company
,●● D: Which Nevada Real Estate Records Are Open to the Public?
Answer: • All Nevada real estate records held at the Division are open to
the public, EXCEPT:
• Broker, broker-salesperson and salesperson examinations
• Criminal and financial records of licensees, applicants or owner-
developers
• If court ordered, these records are also open to the public
●● D: Nevada Real Estate Division Duties
Answer: • Administer the provisions under NAC/NRS
• Day to day activities such as:
• Issuing and renewing Nevada licenses
• Collecting fines against Nevada licensees
• Investigating NV real property activities
against NV licensees when warranted
• Checking Nevada broker's and owner
developer's offices when warranted
• Prepare and distribute forms for duties owed by a Nevada licensee who
is acting for:
• Only one party to a real estate transaction
• More than one party to a real estate
transaction
,• A Nevada real estate broker who assigns
different Nevada licensees affiliated with his
brokerage to separate parties to a real
estate transaction
• Prepare a booklet concerning certain Nevada disclosures required in
sale of Nevada residential property
• Sellers Real Property Disclosure Form
• Make copies and make available to Nevada
licensees for distribution to buyers and
sellers
• NVRED must approve the format of such
booklet
●● D: Who helps the NV Real Estate Division
Answer: • The NV Attorney General acts as advisor to the NVRED
• The NV Attorney General will defend the NVRED against any action
brought against them
●● D: Where are NV Licensee's Fees, Penalties & Charges Placed?
Answer: • Nevada State General Fund EXCEPT for the following:
• Sale of Publications of various forms and NRS/NAC regulations
• Examinations
• NVERRF funds collected from Nevada licensees and Nevada brokers
, ●● Q: The NVRED administers the provisions of NRS and NAC
Answer: True
●● Q: The ERRF is part of the NV State General Fund
Answer: False.
●● D: When A Consumer Complains About A NV Licensee to NVRED
Answer: Consumer must bring written statement of fact to NVRED
NVRED investigator investigates with two possible outcomes
Dismiss without prejudice or;
Turn complaint over to NVREDA
NVREDA has two possible outcomes
If not a NV licensee
It is turned over to NV District Attorney or NV AG
If Guilty - Felony D
If a Nevada licensee
Set up hearing with NVREC within 90 days
Informal decision within 15 days
Formal decision within 60 days
May appeal within 30 days on matters of law, never on fine amount to
appellate or district court
