Nevada real estate law exam 3 Correct Questions And Answers!

How many hours do you need to renew your salesperson license the second time? - ANSWER A total of 24 hours is required, including 12 hours live classroom of 3 hours each contracts, agency, Nevada law and ethics. The remaining 12 hours may be by correspondence in general studies. When does the commission have the right to revoke salespersons Stacy's license? - ANSWER Stacy deposited a buyer's down payment in her own bank account. Stacey commingled client funds with personal funds. This is illegal T or F, The Real Estate Division of Nevada can revoke or suspend broker John Smiths license when John went out to the owners property and displayed a "For Sale" sign without the owners consent - ANSWER True T or F, The Real Estate Division of Nevada can revoke or suspend broker John Smiths license when John doesn't keep records - ANSWER True T or F, The Real Estate Division of Nevada can revoke or suspend broker John Smiths license when John helped his friend Mary Cheat on the licensing examination - ANSWER True T or F, The Real Estate Division of Nevada can revoke or suspend broker John Smiths license when John deposited earnest money into the firms trust account - ANSWER False Broker John may deposit earnest money in a trust account, escrow or what parties agree to in writing. T or F, Nick Intime, a licensee must have his license suspended by the real estate commission when he commingled his sisters money/property with his own - ANSWER False T or F, Nick Intime, a licensee must have his license suspended by the real estate commission when he had a guaranteed sales plan, but failed to perform as promised - ANSWER False