Nevada Timeshare License EXAM LATEST (2025)
COMPLETE QUESTIONS With 100% Verified Solutions,
The sale of timeshare interests in the State of Nevada is regulated under the
provisions of: - (ANSWER)NRS 119a
The law that regulates real estate in Nevada is: - (ANSWER)NRS 645
Who appoints the Administrator of the Real Estate Division? - (ANSWER)The
Director of the Department of Business and Industry
Who appoints the Director of the Department of Business and Industry? -
(ANSWER)Governor
Who selects and appoints the Project Broker? - (ANSWER)Developer
If a timeshare agent initially becomes licensed on June 6, 2000, when will the
license expire? - (ANSWER)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? - (ANSWER)$100
,A timeshare owner with the same numbered week of ownership each year has... -
(ANSWER)Fixed use
What is fractional ownership? - (ANSWER)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... -
(ANSWER)Floating use
Which of the following reasons would NOT be cause for the Real Estate Division to
deny an application for timeshare sales license? - (ANSWER)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? - (ANSWER)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... - (ANSWER)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 ... - (ANSWER)Registered Representative
, How many hours of continuing education are required for a licensed Timeshare
Sales Agent? - (ANSWER)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? -
(ANSWER)Sales agents and representatives
In what year did the Nevada legislature pass the statute governing timeshare
sales? - (ANSWER)1983
To effect an exchange, an owner of a floating use period MUST first secure a
specific week through which of the following? - (ANSWER)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... - (ANSWER)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... - (ANSWER)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... - (ANSWER)Provisional
License until satisfactory results from the FBI fingerprint background check are
received by the Division
COMPLETE QUESTIONS With 100% Verified Solutions,
The sale of timeshare interests in the State of Nevada is regulated under the
provisions of: - (ANSWER)NRS 119a
The law that regulates real estate in Nevada is: - (ANSWER)NRS 645
Who appoints the Administrator of the Real Estate Division? - (ANSWER)The
Director of the Department of Business and Industry
Who appoints the Director of the Department of Business and Industry? -
(ANSWER)Governor
Who selects and appoints the Project Broker? - (ANSWER)Developer
If a timeshare agent initially becomes licensed on June 6, 2000, when will the
license expire? - (ANSWER)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? - (ANSWER)$100
,A timeshare owner with the same numbered week of ownership each year has... -
(ANSWER)Fixed use
What is fractional ownership? - (ANSWER)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... -
(ANSWER)Floating use
Which of the following reasons would NOT be cause for the Real Estate Division to
deny an application for timeshare sales license? - (ANSWER)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? - (ANSWER)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... - (ANSWER)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 ... - (ANSWER)Registered Representative
, How many hours of continuing education are required for a licensed Timeshare
Sales Agent? - (ANSWER)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? -
(ANSWER)Sales agents and representatives
In what year did the Nevada legislature pass the statute governing timeshare
sales? - (ANSWER)1983
To effect an exchange, an owner of a floating use period MUST first secure a
specific week through which of the following? - (ANSWER)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... - (ANSWER)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... - (ANSWER)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... - (ANSWER)Provisional
License until satisfactory results from the FBI fingerprint background check are
received by the Division
