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 ||elements ||are ||necessary ||to ||create ||an ||agency ||relationship ||EXCEPT: ||-
||correct ||answer ||-consideration
The ||following ||elements ||are ||necessary ||to ||create ||an ||agency ||relationship: ||- ||correct
||answer ||-perception ||of ||representation, ||understanding, ||and ||reliance
Which ||of ||the ||following ||is ||NOT ||necessary ||to ||form ||a ||contract? ||- ||correct ||answer ||-
performance
Which ||of ||the ||following ||is ||necessary ||to ||form ||a ||contract? ||- ||correct ||answer ||-meeting ||of
||the ||minds, ||consideration, ||and ||competence
The ||essential ||parts ||of ||a ||written ||contract ||include ||- ||correct ||answer ||-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? ||- ||correct ||answer ||-The ||purchaser ||of ||a ||timeshare
||may ||cancel, ||by ||written ||notice, ||the ||contract ||of ||sale ||until ||midnight ||of ||the ||fifth
||calendar ||day. ||
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? ||- ||correct ||answer ||-non-disturbance ||clause
How ||would ||a ||prospective ||purchaser ||get ||the ||BEST ||deal ||on ||a ||timeshare? ||- ||correct
||answer ||-buy ||it ||from ||an ||existing ||owner
The ||purchaser ||may ||cancel ||the ||transaction ||- ||correct ||answer ||-until ||midnight ||of ||the ||5th
||calendar ||day ||after ||signing
Escrow ||may ||NOT ||be ||closed ||until ||the ||- ||correct ||answer ||-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? ||- ||correct ||answer ||-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? ||- ||correct
||answer ||-1. ||Matters ||discussed ||or ||materials ||presented ||may ||be ||used ||in ||any ||subsequent
||formal ||hearings ||
2. ||May ||be ||tap ||recorded
3. ||Is ||lawful ||under ||NRS ||119A
4. ||Mandates ||a ||judge ||or ||constable ||be ||present ||for ||the ||record
CORRECT: ||Mandates ||a ||judge ||or ||constable ||be ||present ||for ||the ||record
The ||sale ||of ||a ||timeshare ||interests ||in ||the ||State ||of ||Nevada ||is ||regulated ||under ||the
||provisions ||of ||- ||correct ||answer ||-Nevada ||revised ||statutes ||119A
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 ||elements ||are ||necessary ||to ||create ||an ||agency ||relationship ||EXCEPT: ||-
||correct ||answer ||-consideration
The ||following ||elements ||are ||necessary ||to ||create ||an ||agency ||relationship: ||- ||correct
||answer ||-perception ||of ||representation, ||understanding, ||and ||reliance
Which ||of ||the ||following ||is ||NOT ||necessary ||to ||form ||a ||contract? ||- ||correct ||answer ||-
performance
Which ||of ||the ||following ||is ||necessary ||to ||form ||a ||contract? ||- ||correct ||answer ||-meeting ||of
||the ||minds, ||consideration, ||and ||competence
The ||essential ||parts ||of ||a ||written ||contract ||include ||- ||correct ||answer ||-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? ||- ||correct ||answer ||-The ||purchaser ||of ||a ||timeshare
||may ||cancel, ||by ||written ||notice, ||the ||contract ||of ||sale ||until ||midnight ||of ||the ||fifth
||calendar ||day. ||
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? ||- ||correct ||answer ||-non-disturbance ||clause
How ||would ||a ||prospective ||purchaser ||get ||the ||BEST ||deal ||on ||a ||timeshare? ||- ||correct
||answer ||-buy ||it ||from ||an ||existing ||owner
The ||purchaser ||may ||cancel ||the ||transaction ||- ||correct ||answer ||-until ||midnight ||of ||the ||5th
||calendar ||day ||after ||signing
Escrow ||may ||NOT ||be ||closed ||until ||the ||- ||correct ||answer ||-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? ||- ||correct ||answer ||-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? ||- ||correct
||answer ||-1. ||Matters ||discussed ||or ||materials ||presented ||may ||be ||used ||in ||any ||subsequent
||formal ||hearings ||
2. ||May ||be ||tap ||recorded
3. ||Is ||lawful ||under ||NRS ||119A
4. ||Mandates ||a ||judge ||or ||constable ||be ||present ||for ||the ||record
CORRECT: ||Mandates ||a ||judge ||or ||constable ||be ||present ||for ||the ||record
The ||sale ||of ||a ||timeshare ||interests ||in ||the ||State ||of ||Nevada ||is ||regulated ||under ||the
||provisions ||of ||- ||correct ||answer ||-Nevada ||revised ||statutes ||119A
