THE ULTIMATE NEVADA PROPERTY
MANAGEMENT PERMIT STUDY BANK &
PRACTICE TEST
This premium Nevada Property Manager Permit practice
exam features verified answers and detailed statutory
rationales tailored exactly to the latest NRED regulations.
It serves as an essential, high-conversion study bank that
covers critical lease notices, trust account laws, and
landlord-tenant statutes. Ideal for students and real
estate professionals looking to ace the state-level permit
exam.
Question 1
Under Nevada Revised Statutes, a property
management agreement must contain a definite
expiration date. Which of the following is true
regarding the renewal of this agreement?
A) It can automatically renew indefinitely
without written consent.
B) It may contain an automatic renewal
provision if the landlord initials it.
C) It cannot be renewed under any
circumstances.
, D) It must be rewritten as an entirely new
contract every 12 months.
Answer: B) It may contain an automatic renewal
provision if the landlord initials it.
Rationale: Pursuant to NRS 645.6056, a property
management agreement in Nevada must have a
definite expiration date. It can contain an automatic
renewal provision only if the client or owner
specifically initials the provision in the contract.
Question 2
When a tenant pays a security deposit, Nevada law
dictates the maximum amount a landlord can
charge. For a standard residential lease, the
security deposit cannot exceed:
A) One month's rent.
B) Two months' rent.
C) Three months' rent.
D) Four months' rent.
Answer: C) Three months' rent.
Rationale: NRS 118A.242 establishes that the total
amount of any security deposit or surety bond
,required by a landlord cannot exceed an amount
equal to three months' rent.
Question 3
A tenant vacates a residential unit in Las Vegas.
How many days does the property manager have to
return the remaining security deposit or provide an
itemized move-out statement to the tenant?
A) 5 business days
B) 14 days
C) 21 days
D) 30 days
Answer: D) 30 days
Rationale: Under NRS 118A.242, the landlord or
property manager must hand-deliver or mail the
security deposit refund, along with an itemized
accounting of any deductions, within 30 days after
the tenancy terminates.
Question 4
If a property manager receives cash for a rental
application fee, within how many days must this
money be deposited into the brokerage trust
account?
, A) 1 business day
B) 3 business days
C) 5 calendar days
D) 7 calendar days
Answer: B) 3 business days
Rationale: Nevada Real Estate Division (NRED)
regulations state that all trust funds received by a
licensee must be deposited into the appropriate
trust account within 3 business days of receipt.
Question 5
Which Nevada entity is responsible for issuing the
Property Manager Permit and enforcing disciplinary
actions against licensees?
A) The Nevada Housing Division
B) The Nevada Real Estate Division (NRED)
C) The Nevada Property Management
Association
D) The Clark County Housing Authority
Answer: B) The Nevada Real Estate Division (NRED)
Rationale: NRED regulates all real estate licenses,
permits, and property management certificates,
MANAGEMENT PERMIT STUDY BANK &
PRACTICE TEST
This premium Nevada Property Manager Permit practice
exam features verified answers and detailed statutory
rationales tailored exactly to the latest NRED regulations.
It serves as an essential, high-conversion study bank that
covers critical lease notices, trust account laws, and
landlord-tenant statutes. Ideal for students and real
estate professionals looking to ace the state-level permit
exam.
Question 1
Under Nevada Revised Statutes, a property
management agreement must contain a definite
expiration date. Which of the following is true
regarding the renewal of this agreement?
A) It can automatically renew indefinitely
without written consent.
B) It may contain an automatic renewal
provision if the landlord initials it.
C) It cannot be renewed under any
circumstances.
, D) It must be rewritten as an entirely new
contract every 12 months.
Answer: B) It may contain an automatic renewal
provision if the landlord initials it.
Rationale: Pursuant to NRS 645.6056, a property
management agreement in Nevada must have a
definite expiration date. It can contain an automatic
renewal provision only if the client or owner
specifically initials the provision in the contract.
Question 2
When a tenant pays a security deposit, Nevada law
dictates the maximum amount a landlord can
charge. For a standard residential lease, the
security deposit cannot exceed:
A) One month's rent.
B) Two months' rent.
C) Three months' rent.
D) Four months' rent.
Answer: C) Three months' rent.
Rationale: NRS 118A.242 establishes that the total
amount of any security deposit or surety bond
,required by a landlord cannot exceed an amount
equal to three months' rent.
Question 3
A tenant vacates a residential unit in Las Vegas.
How many days does the property manager have to
return the remaining security deposit or provide an
itemized move-out statement to the tenant?
A) 5 business days
B) 14 days
C) 21 days
D) 30 days
Answer: D) 30 days
Rationale: Under NRS 118A.242, the landlord or
property manager must hand-deliver or mail the
security deposit refund, along with an itemized
accounting of any deductions, within 30 days after
the tenancy terminates.
Question 4
If a property manager receives cash for a rental
application fee, within how many days must this
money be deposited into the brokerage trust
account?
, A) 1 business day
B) 3 business days
C) 5 calendar days
D) 7 calendar days
Answer: B) 3 business days
Rationale: Nevada Real Estate Division (NRED)
regulations state that all trust funds received by a
licensee must be deposited into the appropriate
trust account within 3 business days of receipt.
Question 5
Which Nevada entity is responsible for issuing the
Property Manager Permit and enforcing disciplinary
actions against licensees?
A) The Nevada Housing Division
B) The Nevada Real Estate Division (NRED)
C) The Nevada Property Management
Association
D) The Clark County Housing Authority
Answer: B) The Nevada Real Estate Division (NRED)
Rationale: NRED regulates all real estate licenses,
permits, and property management certificates,
