©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM
WEST VIRGINIA UNIVERSIRTY-WV26506
Timeshare License Exam Practice
Questions and Answers (100% Pass)
How long is a TSA license valid for? - ✔️✔️2 years
If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license
expire? - ✔️✔️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? - ✔️✔️June 30, 2010 (end of the month - 1 year later)
An applicant for an original timeshare license MUST provide: - ✔️✔️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?
- ✔️✔️20 days
A developer may NOT make a material change in the timeshare plan without giving the
Division at LEAST how many days notice? - ✔️✔️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? - ✔️✔️$50,000
1
,©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM
WEST VIRGINIA UNIVERSIRTY-WV26506
What is a timeshare? - ✔️✔️A guaranteed reservation at the resort of your choice
What is a fractional ownership? - ✔️✔️Ownership of an interval of 1 month to 1/2 year
The value of an individual timeshare usually - ✔️✔️decreases in value
An agreement between two or more parties is called - ✔️✔️a contract
The following elements are necessary to create an agency relationship EXCEPT: -
✔️✔️consideration
The following elements are necessary to create an agency relationship: - ✔️✔️perception
of representation, understanding, and reliance
Which of the following is NOT necessary to form a contract? - ✔️✔️performance
Which of the following is necessary to form a contract? - ✔️✔️meeting of the minds,
consideration, and competence
The essential parts of a written contract include - ✔️✔️competent parties, mutual consent,
consideration, and legal obligation
Which statements MUST be printed above the purchaser's signature one in each
contract for sale of a timeshare? - ✔️✔️The purchaser of a timeshare may cancel, by
written notice, the contract of sale until midnight of the fifth calendar day.
2
, ©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM
WEST VIRGINIA UNIVERSIRTY-WV26506
The right of cancellation may not be waived. Any attempt by the developer to obtain a
waiver results in a contract that is voidable by the purchaser.
Developer Tyson has defaulted on his project. Which clause provides protection for
prior purchasers? - ✔️✔️non-disturbance clause
How would a prospective purchaser get the BEST deal on a timeshare? - ✔️✔️buy it from
an existing owner
The purchaser may cancel the transaction - ✔️✔️until midnight of the 5th calendar day
after signing
Escrow may NOT be closed until the - ✔️✔️1. buyer's check clears his bank
2. project is free and clear of any blanket encumbrances
3. cancellation period has expired
Developer Douglas has submitted an application to the administrator for a permit to sell
timeshares. The Division shall issue an order within how many days after the receipt of
the application? - ✔️✔️30 days
The administrator has scheduled an informal meeting to discuss certain sales practices
at Douglas' promotional meetings. Which of the following is NOT true? - ✔️✔️1. Matters
discussed or materials presented may be used in any subsequent formal hearings
2. May be tap recorded
3
WEST VIRGINIA UNIVERSIRTY-WV26506
Timeshare License Exam Practice
Questions and Answers (100% Pass)
How long is a TSA license valid for? - ✔️✔️2 years
If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license
expire? - ✔️✔️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? - ✔️✔️June 30, 2010 (end of the month - 1 year later)
An applicant for an original timeshare license MUST provide: - ✔️✔️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?
- ✔️✔️20 days
A developer may NOT make a material change in the timeshare plan without giving the
Division at LEAST how many days notice? - ✔️✔️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? - ✔️✔️$50,000
1
,©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM
WEST VIRGINIA UNIVERSIRTY-WV26506
What is a timeshare? - ✔️✔️A guaranteed reservation at the resort of your choice
What is a fractional ownership? - ✔️✔️Ownership of an interval of 1 month to 1/2 year
The value of an individual timeshare usually - ✔️✔️decreases in value
An agreement between two or more parties is called - ✔️✔️a contract
The following elements are necessary to create an agency relationship EXCEPT: -
✔️✔️consideration
The following elements are necessary to create an agency relationship: - ✔️✔️perception
of representation, understanding, and reliance
Which of the following is NOT necessary to form a contract? - ✔️✔️performance
Which of the following is necessary to form a contract? - ✔️✔️meeting of the minds,
consideration, and competence
The essential parts of a written contract include - ✔️✔️competent parties, mutual consent,
consideration, and legal obligation
Which statements MUST be printed above the purchaser's signature one in each
contract for sale of a timeshare? - ✔️✔️The purchaser of a timeshare may cancel, by
written notice, the contract of sale until midnight of the fifth calendar day.
2
, ©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM
WEST VIRGINIA UNIVERSIRTY-WV26506
The right of cancellation may not be waived. Any attempt by the developer to obtain a
waiver results in a contract that is voidable by the purchaser.
Developer Tyson has defaulted on his project. Which clause provides protection for
prior purchasers? - ✔️✔️non-disturbance clause
How would a prospective purchaser get the BEST deal on a timeshare? - ✔️✔️buy it from
an existing owner
The purchaser may cancel the transaction - ✔️✔️until midnight of the 5th calendar day
after signing
Escrow may NOT be closed until the - ✔️✔️1. buyer's check clears his bank
2. project is free and clear of any blanket encumbrances
3. cancellation period has expired
Developer Douglas has submitted an application to the administrator for a permit to sell
timeshares. The Division shall issue an order within how many days after the receipt of
the application? - ✔️✔️30 days
The administrator has scheduled an informal meeting to discuss certain sales practices
at Douglas' promotional meetings. Which of the following is NOT true? - ✔️✔️1. Matters
discussed or materials presented may be used in any subsequent formal hearings
2. May be tap recorded
3
