Nevada Timeshare Exam Questions and Answers 2025
/. According to Nevada law, a time share is - Answer-A. a vacation home
B. the right to use and occupy a unit on a recurrent periodic basis according to an
arrangement allocating this right among various owners whether or not there is an
additional charge to the owener for occupying the unit
C. a vacation condominium
D. a security or investment contract
correct answer B
/.Time Share types often include - Answer-A. Deed ownership
B. Lease rights
C. Memberships in a club
D. All of the above
correct answer: D
/.A floating week interval include - Answer-A. Owns a specific number of weeks each
year
B. Owns the same unit for the same, specific week each year
C. Owns points that can be used towards days at a resort, rental car or cruise
D. Has the right to use the club and all of its amenities
correct answer: A
/.Participants in exchange programs - Answer-A. Cannot exchange or swap privileges
with other TimeShare owners
B. Are always free to establish a relationship with an exchange company of their
choosing
C. May be required to use the program included with the purchase of their Time Share
D. Are never charged an additional fee
correct answer: C
/.A developer has a four-flex that he has turned into Time Shares. Does he need to
register with the Division? - Answer-A. No, because it is in a separate building.
B. Yes, all Time Shares must be registered
C. No, because it is fewer than 12 in a project
D. Yes, because they will create a homeowners association
correct answer: C
,/.Developer Flinn has built a time share development in Park City, Utah. Flinn will be
including the marketing of this development with his Nevada developments, in a sales
offering in Carson City, NV. Does Flint need to hire a Project Broker and register with
the Nevada Real Estate Division? - Answer-A. No, because the development is in Utah.
B. Yes, because it is being advertised/market in Nevada
correct answer B
/.An exchange program - Answer-A. Is created to enable a Time Share owner to
exchange their occupancy with another Time Share owner
B. Enables a Time Share owner the ability to recoup some of their annual expenses
and/or use someone else's Time Share at the same facility
C. Must provide the purchaser of a Time Share with certain statements
D. All of the above
correct answer D
/.Nevada law requires a developer who operates an exchange program to provide the
purchaser with the - Answer-A. Names of the officers, directors and shareholders
owning at least 5% of the outstanding stock of the company
B. A statement indicating whether the purchasers' participation in the program is
dependent upon the continued inclusion of the Time Share plan in the program
C. A statement indicating whether the purchaser's membership or participation in the
program is voluntary or mandatory
D. All of the above
correct answer D
/.To make sure that any purchaser knows the criteria for arranging, receiving and
depositing Time Share rights, the developer's disclosure must - Answer-A. Also provide
the purchaser with a statement indicating whether exchanges are arranged on the basis
of available space
B. Guarantee specific requests for exchanges
C. Verify that the purchaser will never lose the right to use and occupy a unit in a
properly applied for exchange
D. Always offer compensation if substitute accommodations are needed
correct answer A
/.If a time share owner wants to change a floating week of his/her time share week to
another resort for a fixed week, do you - Answer-A. Enroll first in your home resort and
then into the exchange program
B. Go directly into the exchange program
C. Contact the Unit-Owners Association
correct answer A
, /.An exchange program enables - Answer-A. Owners of Time Shares the ability to
exchange or swap privileges for a fee
B. Project Brokers to be able to change offices
C. Mangers of the Homeowner's Association to elect officers
D. Owners of Time Shares the ability to exchange or swap privileges without a fee
correct answer A
/.The Broker in charge of a Time Share Sales office is called a - Answer-A. Project
Broker
B. Time Share Sales Agent Broker
correct answer A
/.A Project Broker is responsible for managing, educating, and monitoring salespeople,
Time Share Sales Agents, representatives, and employees - Answer-A. True
B. False
correct answer B
/.The developer enters in the brokerage agreement with a client - Answer-A. True
B. False
correct answer B
/.Being behind on child support payments is - Answer-A. Bad, but will not prevent
someone from obtain a sales agent license
B. Grounds for denying both a sales agent and broker's license
C. Grounds for denying a broker's license but not a sale agent's license
D. None of the above
correct answer B
/.Before a Project Broker may accept the position, he must - Answer-A. Make a
personal inspection of the project for which he is to be responsible
B. Be appointed by the developer
C. Hold either a broker, broker-salesperson or salesperson license
D. Both A and B
correct answer D
/.A Time Share Representative - Answer-A. Must register annually with the Nevada
Real Estate Division
B. May not hand out advertising
C. Is not responsible to the Broker and Developer
/. According to Nevada law, a time share is - Answer-A. a vacation home
B. the right to use and occupy a unit on a recurrent periodic basis according to an
arrangement allocating this right among various owners whether or not there is an
additional charge to the owener for occupying the unit
C. a vacation condominium
D. a security or investment contract
correct answer B
/.Time Share types often include - Answer-A. Deed ownership
B. Lease rights
C. Memberships in a club
D. All of the above
correct answer: D
/.A floating week interval include - Answer-A. Owns a specific number of weeks each
year
B. Owns the same unit for the same, specific week each year
C. Owns points that can be used towards days at a resort, rental car or cruise
D. Has the right to use the club and all of its amenities
correct answer: A
/.Participants in exchange programs - Answer-A. Cannot exchange or swap privileges
with other TimeShare owners
B. Are always free to establish a relationship with an exchange company of their
choosing
C. May be required to use the program included with the purchase of their Time Share
D. Are never charged an additional fee
correct answer: C
/.A developer has a four-flex that he has turned into Time Shares. Does he need to
register with the Division? - Answer-A. No, because it is in a separate building.
B. Yes, all Time Shares must be registered
C. No, because it is fewer than 12 in a project
D. Yes, because they will create a homeowners association
correct answer: C
,/.Developer Flinn has built a time share development in Park City, Utah. Flinn will be
including the marketing of this development with his Nevada developments, in a sales
offering in Carson City, NV. Does Flint need to hire a Project Broker and register with
the Nevada Real Estate Division? - Answer-A. No, because the development is in Utah.
B. Yes, because it is being advertised/market in Nevada
correct answer B
/.An exchange program - Answer-A. Is created to enable a Time Share owner to
exchange their occupancy with another Time Share owner
B. Enables a Time Share owner the ability to recoup some of their annual expenses
and/or use someone else's Time Share at the same facility
C. Must provide the purchaser of a Time Share with certain statements
D. All of the above
correct answer D
/.Nevada law requires a developer who operates an exchange program to provide the
purchaser with the - Answer-A. Names of the officers, directors and shareholders
owning at least 5% of the outstanding stock of the company
B. A statement indicating whether the purchasers' participation in the program is
dependent upon the continued inclusion of the Time Share plan in the program
C. A statement indicating whether the purchaser's membership or participation in the
program is voluntary or mandatory
D. All of the above
correct answer D
/.To make sure that any purchaser knows the criteria for arranging, receiving and
depositing Time Share rights, the developer's disclosure must - Answer-A. Also provide
the purchaser with a statement indicating whether exchanges are arranged on the basis
of available space
B. Guarantee specific requests for exchanges
C. Verify that the purchaser will never lose the right to use and occupy a unit in a
properly applied for exchange
D. Always offer compensation if substitute accommodations are needed
correct answer A
/.If a time share owner wants to change a floating week of his/her time share week to
another resort for a fixed week, do you - Answer-A. Enroll first in your home resort and
then into the exchange program
B. Go directly into the exchange program
C. Contact the Unit-Owners Association
correct answer A
, /.An exchange program enables - Answer-A. Owners of Time Shares the ability to
exchange or swap privileges for a fee
B. Project Brokers to be able to change offices
C. Mangers of the Homeowner's Association to elect officers
D. Owners of Time Shares the ability to exchange or swap privileges without a fee
correct answer A
/.The Broker in charge of a Time Share Sales office is called a - Answer-A. Project
Broker
B. Time Share Sales Agent Broker
correct answer A
/.A Project Broker is responsible for managing, educating, and monitoring salespeople,
Time Share Sales Agents, representatives, and employees - Answer-A. True
B. False
correct answer B
/.The developer enters in the brokerage agreement with a client - Answer-A. True
B. False
correct answer B
/.Being behind on child support payments is - Answer-A. Bad, but will not prevent
someone from obtain a sales agent license
B. Grounds for denying both a sales agent and broker's license
C. Grounds for denying a broker's license but not a sale agent's license
D. None of the above
correct answer B
/.Before a Project Broker may accept the position, he must - Answer-A. Make a
personal inspection of the project for which he is to be responsible
B. Be appointed by the developer
C. Hold either a broker, broker-salesperson or salesperson license
D. Both A and B
correct answer D
/.A Time Share Representative - Answer-A. Must register annually with the Nevada
Real Estate Division
B. May not hand out advertising
C. Is not responsible to the Broker and Developer
