Timeshare Test #2
Timeshare Test #2 The Nevada Revised Statute that deals with the timeshare industry in Nevada is titled: A. 1551 B. 119A C. 119B D. 645 - B. 119A Timeshare right to use is considered: A. A contractual agreement B. Deed and title C. An open arrangement D. None of the above - A. A contractual agreement Timeshare is: A. A great investment B. A way to freeze vacation costs C. Easily financed D. A good tax deduction - B. A way to freeze vacation costs Fractional ownership of a timeshare is: A. From one day to 29 days B. A series of 21 day stays C. Weekends only D. One month to half of a year - D. One month to half of a year An arrangement to do, not to do certain things is called: A. Declaration B. Contract C. Affidavit D. Testament - B. Contract All are necessary to the creation of an agency relationship except: A. Consideration B. Agreement of both parties C. Principal with capacity D. Mutuality - B. Agreement of both parties Which of the following is not a necessary element in the information of a contract? A. Consideration. B. Acceptance C. Performance D. Offer - C. Performance Financing for an individual timeshare is done by the: A. Developer B. Local banks C. Visa/MasterCard D. The Financial Timeshare Corporation
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- April 13, 2024
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