Timeshare License Exam Questions with Correct Answers 2025

Timeshare License Exam Questions with
Correct Answers 2025
HowMlongMisMaMTSAMlicenseMvalidMfor?M-MCORRECTMANSWERM-2Myears



IfMaMtimeshareMAGENTMinitiallyMbecomesMlicensedMonMJuneM6,M2000,MwhenMwillMtheMlicenseMexpir
e?M-MCORRECTMANSWERM-JuneM30,M2002M(endMofMtheMmonthM-M2MyearsMlater)



IfMaMtimeshareMREPRESENTATIVEMinitiallyMbecomesMlicensedMonMJuneM6,M2009,MwhenMwillMtheMlic
enseMexpire?M-MCORRECTMANSWERM-JuneM30,M2010M(endMofMtheMmonthM-M1MyearMlater)



AnMapplicantMforManMoriginalMtimeshareMlicenseMMUSTMprovide:M-MCORRECTMANSWERM-
AnMapplication,McertificatesMforMpassingMtheMexaminationMandMcompletingMtheM14MhourMcourse,M
andM$175



IfMaMtimeshareMagentMisMservedMnoticeMthatMtheMdivisionMhasMfiledMchargesMagainstMhim/her,Mhe/
sheMhasMhowMmanyMdaysMinMwhichMtoMfileMwithMtheMDivisionMandManswerMtoMtheMcharges?M-
MCORRECTMANSWERM-20Mdays




AMdeveloperMmayMNOTMmakeMaMmaterialMchangeMinMtheMtimeshareMplanMwithoutMgivingMtheMDivi
sionMatMLEASTMhowMmanyMdaysMnotice?M-MCORRECTMANSWERM-10Mdays



IfMtheMhighestMmonthlyMtotalMofMdepositsMreceivedMbyMaMprojectMisM$50,000MwhatMisMtheMamount
MofMsuretyMbondMREQUIREDMforMtheMbenefitMofMtheMpurchasers?M-MCORRECTMANSWERM-$50,000




WhatMisMaMtimeshare?M-MCORRECTMANSWERM-
AMguaranteedMreservationMatMtheMresortMofMyourMchoice

,WhatMisMaMfractionalMownership?M-MCORRECTMANSWERM-
OwnershipMofManMintervalMofM1MmonthMtoM1/2Myear



TheMvalueMofManMindividualMtimeshareMusuallyM-MCORRECTMANSWERM-decreasesMinMvalue



AnMagreementMbetweenMtwoMorMmoreMpartiesMisMcalledM-MCORRECTMANSWERM-aMcontract



TheMfollowingMelementsMareMnecessaryMtoMcreateManMagencyMrelationshipMEXCEPT:M-
MCORRECTMANSWERM-consideration




TheMfollowingMelementsMareMnecessaryMtoMcreateManMagencyMrelationship:M-
MCORRECTMANSWERM-perceptionMofMrepresentation,Munderstanding,MandMreliance




WhichMofMtheMfollowingMisMNOTMnecessaryMtoMformMaMcontract?M-MCORRECTMANSWERM-
performance



WhichMofMtheMfollowingMisMnecessaryMtoMformMaMcontract?M-MCORRECTMANSWERM-
meetingMofMtheMminds,Mconsideration,MandMcompetence



TheMessentialMpartsMofMaMwrittenMcontractMincludeM-MCORRECTMANSWERM-
competentMparties,MmutualMconsent,Mconsideration,MandMlegalMobligation



WhichMstatementsMMUSTMbeMprintedMaboveMtheMpurchaser'sMsignatureMoneMinMeachMcontractMfo
rMsaleMofMaMtimeshare?M-MCORRECTMANSWERM-
TheMpurchaserMofMaMtimeshareMmayMcancel,MbyMwrittenMnotice,MtheMcontractMofMsaleMuntilMmidni
ghtMofMtheMfifthMcalendarMday.M



TheMrightMofMcancellationMmayMnotMbeMwaived.MAnyMattemptMbyMtheMdeveloperMtoMobtainMaMwai
verMresultsMinMaMcontractMthatMisMvoidableMbyMtheMpurchaser.

, DeveloperMTysonMhasMdefaultedMonMhisMproject.MWhichMclauseMprovidesMprotectionMforMpriorMpu
rchasers?M-MCORRECTMANSWERM-non-disturbanceMclause



HowMwouldMaMprospectiveMpurchaserMgetMtheMBESTMdealMonMaMtimeshare?M-
MCORRECTMANSWERM-buyMitMfromManMexistingMowner




TheMpurchaserMmayMcancelMtheMtransactionM-MCORRECTMANSWERM-
untilMmidnightMofMtheM5thMcalendarMdayMafterMsigning



EscrowMmayMNOTMbeMclosedMuntilMtheM-MCORRECTMANSWERM-1.Mbuyer'sMcheckMclearsMhisMbankM

2.MprojectMisMfreeMandMclearMofManyMblanketMencumbrancesM

3.McancellationMperiodMhasMexpired



DeveloperMDouglasMhasMsubmittedManMapplicationMtoMtheMadministratorMforMaMpermitMtoMsellMti
meshares.MTheMDivisionMshallMissueManMorderMwithinMhowMmanyMdaysMafterMtheMreceiptMofMtheMa
pplication?M-MCORRECTMANSWERM-30Mdays



TheMadministratorMhasMscheduledManMinformalMmeetingMtoMdiscussMcertainMsalesMpracticesMatMD
ouglas'MpromotionalMmeetings.MWhichMofMtheMfollowingMisMNOTMtrue?M-MCORRECTMANSWERM-
1.MMattersMdiscussedMorMmaterialsMpresentedMmayMbeMusedMinManyMsubsequentMformalMhearings
M



2.MMayMbeMtapMrecorded

3.MIsMlawfulMunderMNRSM119A

4.MMandatesMaMjudgeMorMconstableMbeMpresentMforMtheMrecord



CORRECT:MMandatesMaMjudgeMorMconstableMbeMpresentMforMtheMrecord