Nevada Timeshare License Practice Questions
with correct answers
The sale of timeshare interests in the State of Nevada is regulated under the provisions of:
- ....🔰VERIFIED ANSWERS.... ✔✔NRS 119a
The law that regulates real estate in Nevada is: - ....🔰VERIFIED ANSWERS.... ✔✔NRS 645
Who appoints the Administrator of the Real Estate Division? - ....🔰VERIFIED
ANSWERS.... ✔✔The Director of the Department of Business and Industry
Who appoints the Director of the Department of Business and Industry? - ....🔰VERIFIED
ANSWERS.... ✔✔Governor
Who selects and appoints the Project Broker? - ....🔰VERIFIED ANSWERS.... ✔✔Developer
If a timeshare agent initially becomes licensed on June 6, 2000, when will the license expire?
- ....🔰VERIFIED ANSWERS.... ✔✔June 30, 2002
If a Sales Agent allows their license to expire, there is a 1 year grace period in which they
can still renew. In addition to the cost of the required 6 hours of continuing education, and
license fee, the Agent will also have to pay for new fingerprints, and a Late Renewal Penalty
of $________ to the Real Estate Division. How much is this penalty? - ....🔰VERIFIED
ANSWERS.... ✔✔$100
A timeshare owner with the same numbered week of ownership each year has... - ....🔰
VERIFIED ANSWERS.... ✔✔Fixed use
,What is fractional ownership? - ....🔰VERIFIED ANSWERS.... ✔✔Ownership of an interval
of 1 month to one-half year
Having timeshare ownership that may be used seasonally or for a different week each year
based on available and requiring a reservation is known as... - ....🔰VERIFIED ANSWERS....
✔✔Floating use
Which of the following reasons would NOT be cause for the Real Estate Division to deny an
application for timeshare sales license? - ....🔰VERIFIED ANSWERS.... ✔✔Driving Record
You have just completed making a timeshare sale. Your buyers go back to their hotel, and
after dinner and a few cocktails, they have second thoughts about the purchase. Can they
change their minds and get out of the deal? - ....🔰VERIFIED ANSWERS.... ✔✔Yes, they
have to right to revoke for any reason for 5 calendar days
Ted and Alice Smith have arrived at their timeshare resort and produced the confirmed
reservation for a unit. They are informed that the unit is NOT available. Ted goes through
the roof, but Alice knows that they are entitled to all the following EXCEPT... - ....🔰
VERIFIED ANSWERS.... ✔✔A full refund of their purchase price
Any person who, on behalf of a developer, induces other persons to attend a sales
presentation is a ... - ....🔰VERIFIED ANSWERS.... ✔✔Registered Representative
How many hours of continuing education are required for a licensed Timeshare Sales
Agent? - ....🔰VERIFIED ANSWERS.... ✔✔6 hours
Mr. Allen was named the project broker at a Nevada timeshare resort. For which of the
following most accurately describes the people will he be responsible for? - ....🔰VERIFIED
ANSWERS.... ✔✔Sales agents and representatives
In what year did the Nevada legislature pass the statute governing timeshare sales? - ....🔰
VERIFIED ANSWERS.... ✔✔1983
, To effect an exchange, an owner of a floating use period MUST first secure a specific week
through which of the following? - ....🔰VERIFIED ANSWERS.... ✔✔The home resort
A Broker that works on behalf of a Developer of Timeshare to coordinate and supervise all
sales activities is known as a... - ....🔰VERIFIED ANSWERS.... ✔✔Project Broker
If the relationship changes between the Sales Agent, Developer and/or the Broker, this must
be reported to the Real Estate Division within... - ....🔰VERIFIED ANSWERS.... ✔✔10 days
The Division will issue a license to those who follow and complete the process set forth in
NRS 119a. Initially, the division will issue a... - ....🔰VERIFIED ANSWERS....
✔✔Provisional License until satisfactory results from the FBI fingerprint background check
are received by the Division
When a Provisional License is issued by the Division, there are certain restrictions that apply
to the Sales Agent that include all of the following EXCEPT... - ....🔰VERIFIED
ANSWERS.... ✔✔May not earn a commission from the Broker while the Sales Agent's
license is in a Provisional condition
he Administrator may impose a fine, or suspend/revoke a sales agent's license if the agent is
found guilty of... - ....🔰VERIFIED ANSWERS.... ✔✔A felony or other crimes of moral
turpitude, or has entered a plea of guilty or "nolo contendere" to any such crimes
The authorization by the Division to sell or offer to sell timeshare is known as... - ....🔰
VERIFIED ANSWERS.... ✔✔The Permit
If an agent wants to leave one project and work for another, they must pay a fee of how
much to reinstate their license with the new Broker and Developer? - ....🔰VERIFIED
ANSWERS.... ✔✔$25 paid to the Real Estate Division
with correct answers
The sale of timeshare interests in the State of Nevada is regulated under the provisions of:
- ....🔰VERIFIED ANSWERS.... ✔✔NRS 119a
The law that regulates real estate in Nevada is: - ....🔰VERIFIED ANSWERS.... ✔✔NRS 645
Who appoints the Administrator of the Real Estate Division? - ....🔰VERIFIED
ANSWERS.... ✔✔The Director of the Department of Business and Industry
Who appoints the Director of the Department of Business and Industry? - ....🔰VERIFIED
ANSWERS.... ✔✔Governor
Who selects and appoints the Project Broker? - ....🔰VERIFIED ANSWERS.... ✔✔Developer
If a timeshare agent initially becomes licensed on June 6, 2000, when will the license expire?
- ....🔰VERIFIED ANSWERS.... ✔✔June 30, 2002
If a Sales Agent allows their license to expire, there is a 1 year grace period in which they
can still renew. In addition to the cost of the required 6 hours of continuing education, and
license fee, the Agent will also have to pay for new fingerprints, and a Late Renewal Penalty
of $________ to the Real Estate Division. How much is this penalty? - ....🔰VERIFIED
ANSWERS.... ✔✔$100
A timeshare owner with the same numbered week of ownership each year has... - ....🔰
VERIFIED ANSWERS.... ✔✔Fixed use
,What is fractional ownership? - ....🔰VERIFIED ANSWERS.... ✔✔Ownership of an interval
of 1 month to one-half year
Having timeshare ownership that may be used seasonally or for a different week each year
based on available and requiring a reservation is known as... - ....🔰VERIFIED ANSWERS....
✔✔Floating use
Which of the following reasons would NOT be cause for the Real Estate Division to deny an
application for timeshare sales license? - ....🔰VERIFIED ANSWERS.... ✔✔Driving Record
You have just completed making a timeshare sale. Your buyers go back to their hotel, and
after dinner and a few cocktails, they have second thoughts about the purchase. Can they
change their minds and get out of the deal? - ....🔰VERIFIED ANSWERS.... ✔✔Yes, they
have to right to revoke for any reason for 5 calendar days
Ted and Alice Smith have arrived at their timeshare resort and produced the confirmed
reservation for a unit. They are informed that the unit is NOT available. Ted goes through
the roof, but Alice knows that they are entitled to all the following EXCEPT... - ....🔰
VERIFIED ANSWERS.... ✔✔A full refund of their purchase price
Any person who, on behalf of a developer, induces other persons to attend a sales
presentation is a ... - ....🔰VERIFIED ANSWERS.... ✔✔Registered Representative
How many hours of continuing education are required for a licensed Timeshare Sales
Agent? - ....🔰VERIFIED ANSWERS.... ✔✔6 hours
Mr. Allen was named the project broker at a Nevada timeshare resort. For which of the
following most accurately describes the people will he be responsible for? - ....🔰VERIFIED
ANSWERS.... ✔✔Sales agents and representatives
In what year did the Nevada legislature pass the statute governing timeshare sales? - ....🔰
VERIFIED ANSWERS.... ✔✔1983
, To effect an exchange, an owner of a floating use period MUST first secure a specific week
through which of the following? - ....🔰VERIFIED ANSWERS.... ✔✔The home resort
A Broker that works on behalf of a Developer of Timeshare to coordinate and supervise all
sales activities is known as a... - ....🔰VERIFIED ANSWERS.... ✔✔Project Broker
If the relationship changes between the Sales Agent, Developer and/or the Broker, this must
be reported to the Real Estate Division within... - ....🔰VERIFIED ANSWERS.... ✔✔10 days
The Division will issue a license to those who follow and complete the process set forth in
NRS 119a. Initially, the division will issue a... - ....🔰VERIFIED ANSWERS....
✔✔Provisional License until satisfactory results from the FBI fingerprint background check
are received by the Division
When a Provisional License is issued by the Division, there are certain restrictions that apply
to the Sales Agent that include all of the following EXCEPT... - ....🔰VERIFIED
ANSWERS.... ✔✔May not earn a commission from the Broker while the Sales Agent's
license is in a Provisional condition
he Administrator may impose a fine, or suspend/revoke a sales agent's license if the agent is
found guilty of... - ....🔰VERIFIED ANSWERS.... ✔✔A felony or other crimes of moral
turpitude, or has entered a plea of guilty or "nolo contendere" to any such crimes
The authorization by the Division to sell or offer to sell timeshare is known as... - ....🔰
VERIFIED ANSWERS.... ✔✔The Permit
If an agent wants to leave one project and work for another, they must pay a fee of how
much to reinstate their license with the new Broker and Developer? - ....🔰VERIFIED
ANSWERS.... ✔✔$25 paid to the Real Estate Division
