Nevada Timeshare License Practice Questions with Correct Answers 2025

Nevada Timeshare License Practice Questions
with Correct Answers 2025
TheMsaleMofMtimeshareMinterestsMinMtheMStateMofMNevadaMisMregulatedMunderMtheMprovisionsMof:M
-MCORRECTMANSWERM-NRSM119a



TheMlawMthatMregulatesMrealMestateMinMNevadaMis:M-MCORRECTMANSWERM-NRSM645



WhoMappointsMtheMAdministratorMofMtheMRealMEstateMDivision?M-MCORRECTMANSWERM-
TheMDirectorMofMtheMDepartmentMofMBusinessMandMIndustry



WhoMappointsMtheMDirectorMofMtheMDepartmentMofMBusinessMandMIndustry?M-
MCORRECTMANSWERM-Governor




WhoMselectsMandMappointsMtheMProjectMBroker?M-MCORRECTMANSWERM-Developer



IfMaMtimeshareMagentMinitiallyMbecomesMlicensedMonMJuneM6,M2000,MwhenMwillMtheMlicenseMexpire
?M-MCORRECTMANSWERM-JuneM30,M2002



IfMaMSalesMAgentMallowsMtheirMlicenseMtoMexpire,MthereMisMaM1MyearMgraceMperiodMinMwhichMtheyMc
anMstillMrenew.MInMadditionMtoMtheMcostMofMtheMrequiredM6MhoursMofMcontinuingMeducation,MandMl
icenseMfee,MtheMAgentMwillMalsoMhaveMtoMpayMforMnewMfingerprints,MandMaMLateMRenewalMPenalty
MofM$________MtoMtheMRealMEstateMDivision.MHowMmuchMisMthisMpenalty?M-MCORRECTMANSWERM-


$100



AMtimeshareMownerMwithMtheMsameMnumberedMweekMofMownershipMeachMyearMhas...M-
MCORRECTMANSWERM-FixedMuse




WhatMisMfractionalMownership?M-MCORRECTMANSWERM-
OwnershipMofManMintervalMofM1MmonthMtoMone-halfMyear

,HavingMtimeshareMownershipMthatMmayMbeMusedMseasonallyMorMforMaMdifferentMweekMeachMyearM
basedMonMavailableMandMrequiringMaMreservationMisMknownMas...M-MCORRECTMANSWERM-
FloatingMuse



WhichMofMtheMfollowingMreasonsMwouldMNOTMbeMcauseMforMtheMRealMEstateMDivisionMtoMdenyMan
MapplicationMforMtimeshareMsalesMlicense?M-MCORRECTMANSWERM-DrivingMRecord




YouMhaveMjustMcompletedMmakingMaMtimeshareMsale.MYourMbuyersMgoMbackMtoMtheirMhotel,MandMa
fterMdinnerMandMaMfewMcocktails,MtheyMhaveMsecondMthoughtsMaboutMtheMpurchase.MCanMtheyMch
angeMtheirMmindsMandMgetMoutMofMtheMdeal?M-MCORRECTMANSWERM-
Yes,MtheyMhaveMtoMrightMtoMrevokeMforManyMreasonMforM5McalendarMdays



TedMandMAliceMSmithMhaveMarrivedMatMtheirMtimeshareMresortMandMproducedMtheMconfirmedMrese
rvationMforMaMunit.MTheyMareMinformedMthatMtheMunitMisMNOTMavailable.MTedMgoesMthroughMtheMr
oof,MbutMAliceMknowsMthatMtheyMareMentitledMtoMallMtheMfollowingMEXCEPT...M-
MCORRECTMANSWERM-AMfullMrefundMofMtheirMpurchaseMprice




AnyMpersonMwho,MonMbehalfMofMaMdeveloper,MinducesMotherMpersonsMtoMattendMaMsalesMpresenta
tionMisMaM...M-MCORRECTMANSWERM-RegisteredMRepresentative



HowMmanyMhoursMofMcontinuingMeducationMareMrequiredMforMaMlicensedMTimeshareMSalesMAgent
?M-MCORRECTMANSWERM-6Mhours



Mr.MAllenMwasMnamedMtheMprojectMbrokerMatMaMNevadaMtimeshareMresort.MForMwhichMofMtheMfoll
owingMmostMaccuratelyMdescribesMtheMpeopleMwillMheMbeMresponsibleMfor?M-
MCORRECTMANSWERM-SalesMagentsMandMrepresentatives




InMwhatMyearMdidMtheMNevadaMlegislatureMpassMtheMstatuteMgoverningMtimeshareMsales?M-
MCORRECTMANSWERM-1983

, ToMeffectManMexchange,ManMownerMofMaMfloatingMuseMperiodMMUSTMfirstMsecureMaMspecificMweekM
throughMwhichMofMtheMfollowing?M-MCORRECTMANSWERM-TheMhomeMresort



AMBrokerMthatMworksMonMbehalfMofMaMDeveloperMofMTimeshareMtoMcoordinateMandMsuperviseMallM
salesMactivitiesMisMknownMasMa...M-MCORRECTMANSWERM-ProjectMBroker



IfMtheMrelationshipMchangesMbetweenMtheMSalesMAgent,MDeveloperMand/orMtheMBroker,MthisMmust
MbeMreportedMtoMtheMRealMEstateMDivisionMwithin...M-MCORRECTMANSWERM-10Mdays




TheMDivisionMwillMissueMaMlicenseMtoMthoseMwhoMfollowMandMcompleteMtheMprocessMsetMforthMinM
NRSM119a.MInitially,MtheMdivisionMwillMissueMa...M-MCORRECTMANSWERM-
ProvisionalMLicenseMuntilMsatisfactoryMresultsMfromMtheMFBIMfingerprintMbackgroundMcheckMareMr
eceivedMbyMtheMDivision



WhenMaMProvisionalMLicenseMisMissuedMbyMtheMDivision,MthereMareMcertainMrestrictionsMthatMappl
yMtoMtheMSalesMAgentMthatMincludeMallMofMtheMfollowingMEXCEPT...M-MCORRECTMANSWERM-
MayMnotMearnMaMcommissionMfromMtheMBrokerMwhileMtheMSalesMAgent'sMlicenseMisMinMaMProvisio
nalMcondition



heMAdministratorMmayMimposeMaMfine,MorMsuspend/revokeMaMsalesMagent'sMlicenseMifMtheMagentMi
sMfoundMguiltyMof...M-MCORRECTMANSWERM-
AMfelonyMorMotherMcrimesMofMmoralMturpitude,MorMhasMenteredMaMpleaMofMguiltyMorM"noloMconten
dere"MtoManyMsuchMcrimes



TheMauthorizationMbyMtheMDivisionMtoMsellMorMofferMtoMsellMtimeshareMisMknownMas...M-
MCORRECTMANSWERM-TheMPermit




IfManMagentMwantsMtoMleaveMoneMprojectMandMworkMforManother,MtheyMmustMpayMaMfeeMofMhowM
muchMtoMreinstateMtheirMlicenseMwithMtheMnewMBrokerMandMDeveloper?M-MCORRECTMANSWERM-
$25MpaidMtoMtheMRealMEstateMDivision