Nevada Timeshare License EXAM
LATEST 2025 EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ANSWERS
The sale of timeshare interests in the State of Nevada is regulated under the provisions
of: - Answers -✔✔ NRS 119a
The law that regulates real estate in Nevada is: - Answers -✔✔ NRS 645
Who appoints the Administrator of the Real Estate Division? - Answers -✔✔ The
Director of the Department of Business and Industry
Who appoints the Director of the Department of Business and Industry? - Answers -✔✔
Governor
Who selects and appoints the Project Broker? - Answers -✔✔ Developer
If a timeshare agent initially becomes licensed on June 6, 2000, when will the license
expire? - Answers -✔✔ June 30, 2002
If a Sales Agent allows their license to expire, there is a 1 year grace period in which
they can still renew. In addition 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? - Answers -✔✔ $100
A timeshare owner with the same numbered week of ownership each year has... -
Answers -✔✔ Fixed use
What is fractional ownership? - Answers -✔✔ Ownership of an interval of 1 month to
one-half year
Having timeshare ownership that may be used seasonally or for a different week each
year based on available and requiring a reservation is known as... - Answers -✔✔
Floating use
Which of the following reasons would NOT be cause for the Real Estate Division to
deny an application for timeshare sales license? - Answers -✔✔ Driving Record
, You have just completed making a timeshare sale. Your buyers go back to their hotel,
and after dinner and a few cocktails, they have second thoughts about the purchase.
Can they change their minds and get out of the deal? - Answers -✔✔ Yes, they have to
right to revoke for any reason for 5 calendar days
Ted and Alice Smith have arrived at their timeshare resort and produced the 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... -
Answers -✔✔ A full refund of their purchase price
Any person who, on behalf of a developer, induces other persons to attend a sales
presentation is a ... - Answers -✔✔ Registered Representative
How many hours of continuing education are required for a licensed Timeshare Sales
Agent? - Answers -✔✔ 6 hours
Mr. Allen was named the project broker at a Nevada timeshare resort. For which of the
following most accurately describes the people will he be responsible for? - Answers -
✔✔ Sales agents and representatives
In what year did the Nevada legislature pass the statute governing timeshare sales? -
Answers -✔✔ 1983
To effect an exchange, an owner of a floating use period MUST first secure a specific
week through which of the following? - Answers -✔✔ The home resort
A Broker that works on behalf of a Developer of Timeshare to coordinate and supervise
all sales activities is known as a... - Answers -✔✔ Project Broker
If the relationship changes between the Sales Agent, Developer and/or the Broker, this
must be reported to the Real Estate Division within... - Answers -✔✔ 10 days
The Division will issue a license to those who follow and complete the process set forth
in NRS 119a. Initially, the division will issue a... - Answers -✔✔ Provisional License until
satisfactory results from the FBI fingerprint background check are received by the
Division
When a Provisional License is issued by the Division, there are certain restrictions that
apply to the Sales Agent that include all of the following EXCEPT... - Answers -✔✔ May
not earn a commission from the Broker while the Sales Agent's license is in a
Provisional condition
he Administrator may impose a fine, or suspend/revoke a sales agent's license if the
agent is found guilty of... - Answers -✔✔ A felony or other crimes of moral turpitude, or
has entered a plea of guilty or "nolo contendere" to any such crimes
LATEST 2025 EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ANSWERS
The sale of timeshare interests in the State of Nevada is regulated under the provisions
of: - Answers -✔✔ NRS 119a
The law that regulates real estate in Nevada is: - Answers -✔✔ NRS 645
Who appoints the Administrator of the Real Estate Division? - Answers -✔✔ The
Director of the Department of Business and Industry
Who appoints the Director of the Department of Business and Industry? - Answers -✔✔
Governor
Who selects and appoints the Project Broker? - Answers -✔✔ Developer
If a timeshare agent initially becomes licensed on June 6, 2000, when will the license
expire? - Answers -✔✔ June 30, 2002
If a Sales Agent allows their license to expire, there is a 1 year grace period in which
they can still renew. In addition 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? - Answers -✔✔ $100
A timeshare owner with the same numbered week of ownership each year has... -
Answers -✔✔ Fixed use
What is fractional ownership? - Answers -✔✔ Ownership of an interval of 1 month to
one-half year
Having timeshare ownership that may be used seasonally or for a different week each
year based on available and requiring a reservation is known as... - Answers -✔✔
Floating use
Which of the following reasons would NOT be cause for the Real Estate Division to
deny an application for timeshare sales license? - Answers -✔✔ Driving Record
, You have just completed making a timeshare sale. Your buyers go back to their hotel,
and after dinner and a few cocktails, they have second thoughts about the purchase.
Can they change their minds and get out of the deal? - Answers -✔✔ Yes, they have to
right to revoke for any reason for 5 calendar days
Ted and Alice Smith have arrived at their timeshare resort and produced the 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... -
Answers -✔✔ A full refund of their purchase price
Any person who, on behalf of a developer, induces other persons to attend a sales
presentation is a ... - Answers -✔✔ Registered Representative
How many hours of continuing education are required for a licensed Timeshare Sales
Agent? - Answers -✔✔ 6 hours
Mr. Allen was named the project broker at a Nevada timeshare resort. For which of the
following most accurately describes the people will he be responsible for? - Answers -
✔✔ Sales agents and representatives
In what year did the Nevada legislature pass the statute governing timeshare sales? -
Answers -✔✔ 1983
To effect an exchange, an owner of a floating use period MUST first secure a specific
week through which of the following? - Answers -✔✔ The home resort
A Broker that works on behalf of a Developer of Timeshare to coordinate and supervise
all sales activities is known as a... - Answers -✔✔ Project Broker
If the relationship changes between the Sales Agent, Developer and/or the Broker, this
must be reported to the Real Estate Division within... - Answers -✔✔ 10 days
The Division will issue a license to those who follow and complete the process set forth
in NRS 119a. Initially, the division will issue a... - Answers -✔✔ Provisional License until
satisfactory results from the FBI fingerprint background check are received by the
Division
When a Provisional License is issued by the Division, there are certain restrictions that
apply to the Sales Agent that include all of the following EXCEPT... - Answers -✔✔ May
not earn a commission from the Broker while the Sales Agent's license is in a
Provisional condition
he Administrator may impose a fine, or suspend/revoke a sales agent's license if the
agent is found guilty of... - Answers -✔✔ A felony or other crimes of moral turpitude, or
has entered a plea of guilty or "nolo contendere" to any such crimes
