LAS VEGAS TIMESHARE EXAM QUESTIONS AND ANSWERS 100% SOLVED

Timeshare - ANSWERRight to use and occupy a unit on a recurrent periodic basis according to an arrangement allocating the right among various owners. Timeshare types include: - ANSWERDeed ownership, lease rights, and membership in a club. Floating week interval owner - ANSWEROwns a specific number of weeks each year. Participants in an exchange programs - ANSWERMay be required to use the program included with the purchase of their timeshare. Nevada law requires a developer who operates an exchange program to provide the purchaser with the following: - ANSWER1. Names of the officers, directors, and shareholders owning at least 5% of the outstanding stock of the company. 2. A statement indicating whether the purchaser's participation in the program is dependent upon the continued inclusion of the timeshare in the program. 3. A statement indicating whether the purchaser's membership or participation in the program is voluntary or mandatory. An exchange program enables: - ANSWEROwners of timeshares the ability to exchange or swap privileges for a fee. Broker in charge of timeshare sales office is called: - ANSWERProject Broker