Nevada Timeshare License Practice Questions &
answers graded A+ updated
1. The sale of timeshare interests in the State of Nevada NRS 119a
is regulated under the provisions of:
2. The law that regulates real estate in Nevada is: NRS 645
3. Who appoints the Administrator of the Real The Director of the De-
Estate Division? partment of Business an
Industry
4. Who appoints the Director of the Department of Busi- Governor
ness and Industry?
5. Who selects and appoints the Project Broker? Developer
6. If a timeshare agent initially becomes licensed on June June 30, 2002
6, 2000, when will the license expire?
7. If a Sales Agent allows their license to expire,
there is a $100 1 year grace period in which they
can still renew. In ad- dition to the cost of the
required 6 hours of continuing education, and
license fee, the Agent will also have to pay for
new fingerprints, and a Late Renewal Penalty
of $ to the Real Estate Division. How
much is this penalty?
8. A timeshare owner with the same numbered Fixed use
week of ownership each year has...
9. What is fractional ownership? Ownership of an
interval of 1 month
to one-half year
10. Floating use
,Nevada Timeshare License Practice Questions &
answers graded A+ updated
Having timeshare ownership that may be used
sea- sonally or for a different week each
year based on available and requiring a
reservation is known as...
Driving Record
11. Which of the following reasons would NOT
be cause for the Real Estate Division to deny
an application for timeshare sales license?
Yes, they have to right to revok
12. You have just completed making a for any reason for 5
timeshare sale. Your buyers go back to their
hotel, and after dinner
and a few cocktails, they have second thoughts about calendar day
the purchase. Can they change their minds
and get out of the deal?
13. Ted and Alice Smith have arrived at their A full refund of their pur-
timeshare resort and produced the chase price
confirmed reservation for a unit. They are
informed that the unit is NOT available. Ted
goes through the roof, but Alice knows that
they are entitled to all the following
EXCEPT... Registered Representati
14. Any person who, on behalf of a developer,
induces other persons to attend a sales
presentation is a ...
15. How many hours of continuing education are required 6 hours
for a licensed Timeshare Sales Agent?
16. Mr. Allen was named the project broker at a following
Nevada timeshare resort. For which of the most ac-
,Nevada Timeshare License Practice Questions &
answers graded A+ updated
curately describes the people will he be Sales agents and repre-
responsible for? sentatives
17. In what year did the Nevada legislature pass
the statute governing timeshare sales?
1983
,Nevada Timeshare License Practice Questions &
answers graded A+ updated
18. To effect an exchange, an owner of a floating The home resort
use pe- riod MUST first secure a specific week
through which of the following?
19. A Broker that works on behalf of a Developer of Time- Project Broke
share to coordinate and supervise all sales
activities is known as a...
20. If the relationship changes between the Sales 10 days
Agent, Developer and/or the Broker, this must be
reported to the Real Estate Division within...
21. The Division will issue a license to those
Provisional License
who follow and complete the process set forth
until satisfactory
in NRS 119a. Ini- tially, the division will issue
results from the FBI
a...
fingerprint back-
ground check are
received by the
22. When a Provisional License is issued by the Division
Division, there are certain restrictions that
apply to the Sales Agent that include all of May not earn a
the following EXCEPT... commis- sion from the
Broker while the Sales
Agent's license is in a
23. he Administrator may impose a fine, or Provisional condition
suspend/re-
A felony or other crimes
voke a sales agent's license if the agent is found guilty of moral
turpitude, or has
of.. entered a plea of
. guilty or "nolo
contendere" to any
answers graded A+ updated
1. The sale of timeshare interests in the State of Nevada NRS 119a
is regulated under the provisions of:
2. The law that regulates real estate in Nevada is: NRS 645
3. Who appoints the Administrator of the Real The Director of the De-
Estate Division? partment of Business an
Industry
4. Who appoints the Director of the Department of Busi- Governor
ness and Industry?
5. Who selects and appoints the Project Broker? Developer
6. If a timeshare agent initially becomes licensed on June June 30, 2002
6, 2000, when will the license expire?
7. If a Sales Agent allows their license to expire,
there is a $100 1 year grace period in which they
can still renew. In ad- dition to the cost of the
required 6 hours of continuing education, and
license fee, the Agent will also have to pay for
new fingerprints, and a Late Renewal Penalty
of $ to the Real Estate Division. How
much is this penalty?
8. A timeshare owner with the same numbered Fixed use
week of ownership each year has...
9. What is fractional ownership? Ownership of an
interval of 1 month
to one-half year
10. Floating use
,Nevada Timeshare License Practice Questions &
answers graded A+ updated
Having timeshare ownership that may be used
sea- sonally or for a different week each
year based on available and requiring a
reservation is known as...
Driving Record
11. Which of the following reasons would NOT
be cause for the Real Estate Division to deny
an application for timeshare sales license?
Yes, they have to right to revok
12. You have just completed making a for any reason for 5
timeshare sale. Your buyers go back to their
hotel, and after dinner
and a few cocktails, they have second thoughts about calendar day
the purchase. Can they change their minds
and get out of the deal?
13. Ted and Alice Smith have arrived at their A full refund of their pur-
timeshare resort and produced the chase price
confirmed reservation for a unit. They are
informed that the unit is NOT available. Ted
goes through the roof, but Alice knows that
they are entitled to all the following
EXCEPT... Registered Representati
14. Any person who, on behalf of a developer,
induces other persons to attend a sales
presentation is a ...
15. How many hours of continuing education are required 6 hours
for a licensed Timeshare Sales Agent?
16. Mr. Allen was named the project broker at a following
Nevada timeshare resort. For which of the most ac-
,Nevada Timeshare License Practice Questions &
answers graded A+ updated
curately describes the people will he be Sales agents and repre-
responsible for? sentatives
17. In what year did the Nevada legislature pass
the statute governing timeshare sales?
1983
,Nevada Timeshare License Practice Questions &
answers graded A+ updated
18. To effect an exchange, an owner of a floating The home resort
use pe- riod MUST first secure a specific week
through which of the following?
19. A Broker that works on behalf of a Developer of Time- Project Broke
share to coordinate and supervise all sales
activities is known as a...
20. If the relationship changes between the Sales 10 days
Agent, Developer and/or the Broker, this must be
reported to the Real Estate Division within...
21. The Division will issue a license to those
Provisional License
who follow and complete the process set forth
until satisfactory
in NRS 119a. Ini- tially, the division will issue
results from the FBI
a...
fingerprint back-
ground check are
received by the
22. When a Provisional License is issued by the Division
Division, there are certain restrictions that
apply to the Sales Agent that include all of May not earn a
the following EXCEPT... commis- sion from the
Broker while the Sales
Agent's license is in a
23. he Administrator may impose a fine, or Provisional condition
suspend/re-
A felony or other crimes
voke a sales agent's license if the agent is found guilty of moral
turpitude, or has
of.. entered a plea of
. guilty or "nolo
contendere" to any
