NV State Real Estate Salesperson EXAM QUESTIONS WITH ACCURATE VERIFIED ANSWERS GRADED A+ 2025

After the collection of the advance fee, when should it be itemized and accounted for? - Correct Ans-3 months What must one have in order to collect an advance fee? - Correct Ans-A real estate license. How many days for broker to refund buyers on land purchase? - Correct Ans-15 day Public offerings must contain this warning - Correct Ans-Read report before signing any paper Real Estate Commission members must be appointed by the - Correct Ans-Governor. Duty of Real Estate Commission is - Correct Ans-to adopt regulations and conduct hearings related to Real Estate law. Members may be reappointed but may not serve longer than - Correct Ans-6 years consecutively How many real estate commission members must reside in southern Nevada? - Correct Ans-2 How many real estate commission members must reside in northern Nevada? - Correct Ans-2 Clark, Esmeralda, Lincoln and Nye counties - Correct Ans-Southern Nevada Carson City and the counties of Churchill, Douglas, Elko, Eureka, Humboldt, Lander, Lyon, Mineral, Pershing, Storey, Washoe and White Pine. - Correct Ans-Northern Nevada 2 types of Nevada agency - Correct Ans-General agency and special agency Which agency is not valid in Nevada? - Correct Ans-Transactional agency Is dual agency allowed in Nevada? - Correct Ans-Yes What must a broker do when in an dual agency? - Correct Ans-Disclose representation and get the written consent of each party before proceeding. REAL ESTATE REAL ESTATE What form must be given when in a dual agency situation? - Correct Ans-Consent to act Do assigned agents in a dual agency situation need Consent to Act forms? - Correct Ans-No When must a licensee give written disclosure to each party in a real estate transaction if the licensee relation with any party changes? - Correct Ans-As soon as possible What form must a broker give a client when an agency relationship is established? - Correct Ans-Duties owed by a Nevada licensee Do you need a duties owed form when referring a client to another licensee? - Correct Ans-No This form must be used in all types of agency representation - Correct Ans-Duties Owed by a Nevada Real Estate Licensee Can a licensee negotiate in a sale, lease or exchange of real estate with another broker's client? - Correct Ans-No unless with written permission from the other broker What is the fine that a real estate licensee must pay to the Real eEstate commission for violations? - Correct Ans-$10,000 A licensee misrepresents a property. Under NRS 645.630 is this wrong? - Correct Ans Yes Under NRS 645.630, making false promises that is likely to influence, persuade or induce is a - Correct Ans-violation Accepting a commission from any person except the licensed real estate broker with whom they are associated with or the owner developer - Correct Ans-is a violation of NRS 645.630 Representing or attempting to represent a real estate broker that they are not employed or associated with without consent of the broker they are associated with - Correct Ans is a violation of NRS 645.630 Failing to maintain brokerage or property management records - Correct Ans-is a violation of NRS 645.630 Failing, within a reasonable time to remit money which comes into their possession which belongs to others - Correct Ans-is a violation of NRS 645.630 If the broker has a trust account and fails to maintain or submit an annual accounting to the Real Estate division - Correct Ans-is a violation of NRS 645.630 REAL ESTATE REAL ESTATE Commingling trust funds (or other people's money) with their own account - Correct Ans-is a violation of NRS 645.630 Failure of the licensee to give earnest money or consideration entrusted to them to a broker - Correct Ans-is a violation of NRS 645.630 Accepting other than cash as earnest money unless that fact is told to the owner before accepting the offer to purchase and that fact is shown in the receipt of earnest money - Correct Ans-is a violation of NRS 645.630 Upon acceptance of an agreement, in the case of a broker, failing to deposit any check or cash deposit received as earnest money before the end of the next banking day, unless otherwise provided in the purchase agreement. - Correct Ans-is a violation of NRS 645.630 Inducing any party to a brokerage agreement, property management agreement, agreement of sale or lease with the same or another party if the inducement to make the substitution is offered to secure personal gain to the licensee or owner-developer. - Correct Ans-is a violation of NRS 645.630 Willfully using any trade name, service mark or insignia of member ship in any real estate organization of which the licensee is not a member, without the legal right to do so. - Correct Ans-is a violation of NRS 645.633 Paying a commission, compensation or a finder's fee to any person performing the services of a broker, broker-salesperson or salesperson who has not secured a license. - Correct Ans-is a violation of NRS 645.633 A guilty conviction relating to the practice of the licensee, property manager or owner developer. - Correct Ans-is a violation of NRS 645.633 A guilty conviction of any crime involving deceit, fraud, misrepresentation or moral turpitude. - Correct Ans-is a violation of NRS 645.633 Guaranteeing, or having authorized or permitted a person to guarantee, future profits which may result in the resale of real property - Correct Ans-is a violation of NRS 645.633 Failure to include a fixed date of expiration in any written brokerage agreement or failure to keep a copy of such a brokerage agreement or any property management agreement with the client. - Correct Ans-is a violation of NRS 645.633 Accepting, giving or charging any undisclosed commission, rebate or direct profit on expenditures made for a client. - Correct Ans-is a violation of NRS 645.633 REAL ESTATE REAL ESTATE Gross negligence or incompetence in performing any act for which the person is required to hold a license. - Correct Ans-is a violation of NRS 645.633 Any other conduct which constitutes deceitful, fraudulent or dishonest dealing. - Correct Ans-is a violation of NRS 645.633 Any conduct which took place before the person became licensed which was in fact, unknown to the Division and which would have been grounds for denial of a license had the Division been aware of the conduct. - Correct Ans-is a violation of NRS 645.633 Knowingly permitting any person whose license had been revoked or suspended to act as a real estate broker, broker salesperson or salesperson, with or on behalf of the licensee. - Correct Ans-is a violation of NRS 645.633 Recording or causing a recorded claim that is determined by the court to be frivolous and made without reasonable cause. - Correct Ans-is a violation of NRS 645.633 Offering real estate for sale or lease without th