90-Hour Nevada Pre-License Course Already Passed

90-Hour Nevada Pre-License Course Already Passed Nevada Real Estate Division is responsible for administering to the provisions of Nevada laws governing real estate as set out in NRS Chapter 645. Nevada Real Estate Commission is responsible for regulating the practice of real estate in Nevada by adopting regulations to help enforce NRS 645. The Administrator: - Is the CEO of the Division. - Is a full-time employee of the State of Nevada. - Heads the Real Estate Division. - The Administrator must not be an active real estate licensee or have an interest in any real estate firm. The Real Estate Division has the authority to deny a real estate license application, the reasons for which are set out in the “Licenses” section of the statutes. These include: May deny a license to anyone who has been convicted of, or entered a plea of "guilty," "guilty but mentally ill" or "nolo contendere" to any of the following charges in a court of competent jurisdiction in the U.S. or elsewhere: Shall NOT issue a license to any person as described above until at least 3 years after: The course requirements to obtain an original license as salesperson include: A course of instruction in real estate principles, practices, procedures, law and ethics consisting of: At least 90 hours of classroom lectures; or The equivalent in a correspondence or extension course. The content of the course must include: At least 45 hours on the principles and practices of real estate. At least 45 hours on the law of property and the regulation of brokers and salespersons and the ethics of selling real estate. Post-licensing education must contain a minimum of 15 modules Real Estate Education Research and Recovery Fund Fund must maintain a balance of at least $300,000 at all times. At the end of each fiscal year,any Fund balance of over $300,000 must be set aside and used by the Administrator for real estate education and research purposes. If any interest or income is earned on the Fund's balance, these monies (after any charges have been deducted) will be credited to the Fund. The maximum payable by the Fund is $25,000 per judgment. The Fund's maximum liability is $100,000 for a single real estate licensee. An agent is also known as a fiduciary The real estate licensee must NOT disclose ANY confidential information about his or her client for 1 YEAR after the brokerage agreement's termination or revocation; A clause that says the mortgagee or beneficiary declares the entire balance of the loan becomes due and payable when the property is transferred