TIMESHARE TEST 3 QUESTIONS WITH
COMPLETE SOLUTIONS
, "Unit" as used in NRS 119A means:
a. A lot of any size
b. The total timeshare unit
c. That portion of a project which is designated for separate use
d. A tract of land consisting of 15 acres or more - ANSWERThat portion of a project
which is designated for separate use
A timeshare resort having both whole unit owners and timeshare interest owners is
referred to as:
a. vacation destination resort
b. tenancy in severalty resort
c. timeshare trust
d. mixed used resort - ANSWERmixed used resort
In Nevada a licensee who acts as an agent in a real estate transaction must disclose
the duties owned to each party to the Real Estate transaction. The intent of the law is to:
a. inform the parties of their legal rights
b. inform the parties of the licensee's obligation to each of the parties under the
timeshare contract
c. inform the prospective purchaser of the duties owned by the developer
d. both A & B - ANSWERinform the parties of the licensee's obligation to each of the
parties under the timeshare contract
If a preliminary permit is issued to a timeshare developer which conditions must be
met?
a. the developer must deliver a bond or cash deposit to cover completion
b. developer assures all deposits are refundable
c. the permit must contain the estimated date of completion
d. All of the above conditions must be satisfied - ANSWERd. All of the above conditions
must be satisfied
The term "Floating Time" refers to:
a. an exchange program
b. a non-specific use period within a season or broader time period
c. maritime timesharing
d. right to use - ANSWERb. a non-specific use period within a season or broader time
period
COMPLETE SOLUTIONS
, "Unit" as used in NRS 119A means:
a. A lot of any size
b. The total timeshare unit
c. That portion of a project which is designated for separate use
d. A tract of land consisting of 15 acres or more - ANSWERThat portion of a project
which is designated for separate use
A timeshare resort having both whole unit owners and timeshare interest owners is
referred to as:
a. vacation destination resort
b. tenancy in severalty resort
c. timeshare trust
d. mixed used resort - ANSWERmixed used resort
In Nevada a licensee who acts as an agent in a real estate transaction must disclose
the duties owned to each party to the Real Estate transaction. The intent of the law is to:
a. inform the parties of their legal rights
b. inform the parties of the licensee's obligation to each of the parties under the
timeshare contract
c. inform the prospective purchaser of the duties owned by the developer
d. both A & B - ANSWERinform the parties of the licensee's obligation to each of the
parties under the timeshare contract
If a preliminary permit is issued to a timeshare developer which conditions must be
met?
a. the developer must deliver a bond or cash deposit to cover completion
b. developer assures all deposits are refundable
c. the permit must contain the estimated date of completion
d. All of the above conditions must be satisfied - ANSWERd. All of the above conditions
must be satisfied
The term "Floating Time" refers to:
a. an exchange program
b. a non-specific use period within a season or broader time period
c. maritime timesharing
d. right to use - ANSWERb. a non-specific use period within a season or broader time
period
