NV STATE TEST QUESTIONS AND ANSWERS ALREADY PASSED

NV STATE TEST QUESTIONS AND ANSWERS ALREADY PASSED Identify the broker on the sign and may identify the salesperson A salesperson who wishes to place his or her own "For Sale" sign on a listed property must Must disclose the fact that he or she is a real estate licensee A real estate salesperson decides to sell his or her own property without using a broker. When advertising the property, the salesperson Negotiable between the client and broker In Nevada, real estate commissions are Are determined by agreement of the broker and his or her principal Commissions earned by a broker in a real estate sales transaction A broker received an earnest money deposit from a buyer, payable to the brokerage. Under Nevada law, the broker should Hold the earnest money deposit in a secure place in the broker's real estate brokerage office until the offer is accepted then deposit into the brokerage trust account within one banking day The broker is in violation of regulations for improperly handling trust funds A broker manages three properties for the same owner under separate property management agreements. One property is in need of emergency repairs, but there is not enough money into the management account to cover the cost. The broker borrows money from the escrow account of one of the other properties to make the repairs. Which of the following is true? In Nevada, brokers and salespeople who are not lawyers may Fill in blanks on preprinted form contracts customarily used in their community No specific termination date Regarding exclusive-listing agreements in Nevada, which of the following could result in the suspension or revocation of a licensee's license to practice real estate? Upon obtaining a listing, a broker or licensed salesperson is obligated to Give the person or persons signing the listing a legible, signed, true, and correct copy at the time of signing or as soon as practicable thereafter The employing broker may be disciplined by the real estate commission for failure to supervise A salesperson engaged in activities that constitute violations of the NRS 645 including blockbusting and discrimination on the basis of disability. The salesperson also cashed a $25,000 earnest money check from a prospective buyer and used the proceeds to buy a new car. The salesperson's employing broker was unaware of all these activities. What is the impact on the salesperson's broker when the salesperson's violations are brought to the attention of the real estate commission? A housing discrimination charge must be filed with the Nevada Real Estate Division within 1 year The broker should urge the client to contact a licensed attorney to prepare the clause for inclusion in th sales contract If a buyer wants to have a clause included in the sales contract under which the seller offers assurances against the excision werewolves, vampire diaries, and trolls on the property, which if the following statesments