Timeshare Test #2 Practice Questions and Answers (100% Pass)

Timeshare Test #2 Practice Questions and Answers (100% Pass) 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: ©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM WEST VIRGINIA UNIVERSIRTY-WV26506 2 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 ©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM WEST VIRGINIA UNIVERSIRTY-WV26506 3 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 ©PREP4EXAMS@2024/2025 [ REAL-EXAM-DUMPS] Monday, August 5, 2024 1: 54 PM WEST VIRGINIA UNIVERSIRTY-WV26506 4 C. Visa/MasterCard D. The Financial Timeshare Corporation - ️️ A. Developer The value of an individual timeshare unit usually: A. Goes up in value B. Goes down in value C. Stays about the same D. Varies from state to state - ️️ B. Goes down in value Consideration in connection with a contract may be which of the following: A. Doing what a person is not legally required to do B. A promise not to do what a person is legally entitled to d