Timeshare License Exam | 170 Questions with 100% Correct Answers

Timeshare License Exam | 170 Questions with 100% Correct Answers How long is a TSA license valid for? -Correct Answer-2 years If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license expire? -Correct Answer-June 30, 2002 (end of the month - 2 years later) If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 2009, when will the license expire? -Correct Answer-June 30, 2010 (end of the month - 1 year later) An applicant for an original timeshare license MUST provide: -Correct Answer-An application, certificates for passing the examination and completing the 14 hour course, and $175 If a timeshare agent is served notice that the division has filed charges against him/her, he/she has how many days in which to file with the Division and answer to the charges? -Correct Answer-20 days A developer may NOT make a material change in the timeshare plan without giving the Division at LEAST how many days notice? -Correct Answer-10 days If the highest monthly total of deposits received by a project is $50,000 what is the amount of surety bond REQUIRED for the benefit of the purchasers? -Correct Answer-$50,000 What is a timeshare? -Correct Answer-A guaranteed reservation at the resort of your choice What is a fractional ownership? -Correct Answer-Ownership of an interval of 1 month to 1/2 year The value of an individual timeshare usually -Correct Answer-decreases in value An agreement between two or more parties is called -Correct Answer-a contract The following elem