TIMESHARE LICENSE EXAM PAGES 11
TO 20 QUESTIONS 100% ANSWERED.
, Excluding any law, ordinance, r governmental regulation, any document creating or
regulation timeshare is known as - ANSWERthe timeshare instrument
As defined by NRS 119A a unit is the - ANSWERportion of a project which is
designated for separate use
A person or entity given the responsibility and obligation for daily operation of a
timeshare resort is referred to as the - ANSWERresort manager
What is a fixed unit? - ANSWERa specific unit
Which of the following refers to that portion of a property designated for separate use? -
ANSWERUnit
The report issued by the administrator authorizing a developer to offer to sell or sell
timeshares is the - ANSWERPublic Offering Statement (POS)
The person who is the equitable or the legal owner of a timeshare is the -
ANSWERowner
If you were employed to invite people to attend a timeshare presentation, you would be
REQUIRED by law to be registered as a - ANSWERrepresentative
Who is responsible for providing legal opinions to the Real Estate Division? -
ANSWERThe Attorney General
According to NRS 119A, who is responsible for instructing an investigation of timeshare
violations? - ANSWERThe administrator
Who supervises the administrator ? - ANSWERThe Director of the Department of
Business and Industry
The administrator shall license as a representative each applicant who -
ANSWERapplies for registration the manner provided by the Division
When are the timeshare permit renewals effective after the application is filed? -
ANSWER30th day after filing the application
Each timeshare agent license issued pursuant to NRS 119A expires - ANSWER2 years
after the last day of the calendar month in which the license was issued
Regulation Z means - ANSWER1. Truth in Lending
2. Disclosure of cost of credit to consumers
TO 20 QUESTIONS 100% ANSWERED.
, Excluding any law, ordinance, r governmental regulation, any document creating or
regulation timeshare is known as - ANSWERthe timeshare instrument
As defined by NRS 119A a unit is the - ANSWERportion of a project which is
designated for separate use
A person or entity given the responsibility and obligation for daily operation of a
timeshare resort is referred to as the - ANSWERresort manager
What is a fixed unit? - ANSWERa specific unit
Which of the following refers to that portion of a property designated for separate use? -
ANSWERUnit
The report issued by the administrator authorizing a developer to offer to sell or sell
timeshares is the - ANSWERPublic Offering Statement (POS)
The person who is the equitable or the legal owner of a timeshare is the -
ANSWERowner
If you were employed to invite people to attend a timeshare presentation, you would be
REQUIRED by law to be registered as a - ANSWERrepresentative
Who is responsible for providing legal opinions to the Real Estate Division? -
ANSWERThe Attorney General
According to NRS 119A, who is responsible for instructing an investigation of timeshare
violations? - ANSWERThe administrator
Who supervises the administrator ? - ANSWERThe Director of the Department of
Business and Industry
The administrator shall license as a representative each applicant who -
ANSWERapplies for registration the manner provided by the Division
When are the timeshare permit renewals effective after the application is filed? -
ANSWER30th day after filing the application
Each timeshare agent license issued pursuant to NRS 119A expires - ANSWER2 years
after the last day of the calendar month in which the license was issued
Regulation Z means - ANSWER1. Truth in Lending
2. Disclosure of cost of credit to consumers
