NV State Law Practice Test |Questions With Verified Answers | Already A+ Grade | 2025 Latest Update!!!

NV State Law Practice Test |Questions With
Verified Answers | Already A+ Grade | 2025
Latest Update!!!

1.asWhichasofastheasfollowingasareasrequirementsaswithasrespectastoasmanagingasaasNevadaasprin
cipalasorasbranchasofficeasbyasaasNevadaasBroker-Salesperson?as
asa.asFull-timeaslicensee asforastwoasofastheasfourasyearsasprecedingas

asb.asFull-timeasactiveasbrokerageasexperienceasforastwoasofastheasfourasyearsasprecedingas

asc.asFull-timeasactiveasexperience asforastwoasofastheasthreeasyearsaspreceding as

asd.asFull-timeasstatus,asmeaning asthirtyashoursasperasweekasforasthe aspastas18asmonthsas-asa.asFull-

timeaslicenseeasforastwoasofastheasfourasyearsaspreceding

asToasbeasaasBroker-salesperson,asyouasmustashaveastwoasofastheaspreviousas4asyearsasfull-
timeasexperienceasinasrealasestateasandaspastasbrokersastestasandasbeasbrokerasorasbrokeras-
assalesperson




2.asToasbeasanasactiveasBrokerasinasNevada,asyouasmust:as
asa.ashaveasyourasprincipalasofficeasinasyourashomeas

asb.ashaveasanasofficeasinasconjunction aswithasanotherasbusinessas

asc.ashaveasanasofficeasinasanasareaaszonedasproperlyas

asd.asmustashaveasaasplaceasofasbusinessas-asc.ashaveasanasofficeasinasanasareaaszonedasproperly




asNACas645.627as-
asNevadaasBrokersasareasrequiredastoashaveasaasphysicalasofficeasandasitasmustasbeasinasanasareaasp

roperlyaszonedasforassuchascommercialasofficeasoperation.asAnswerasd.ascouldasbeascorrect,asho
weverasc.asisastheasbetterasanswer.

3.asInasanasagencyasdisclosureasrequirement,asaasstatementasidentifyingastheasprincipalasandasth
easagentsasfiduciaryasdutyastoasthatasprincipalasisasrequired:as
asa.asonlyasifastheasagentasisasrepresenting asmoreasthanasone asprincipalasinastheastransaction as

asb.asonlyastoastheasotheraslicensee asinvolvedasinastheastransactionas

asc.asonlyasrequired aswhenasthereasisasaasNevadaasCooperating asBrokeras

asd.asmustasbeasinaswriting astoasallaspartiesas(lessor,aslessee,asbuyer,assellerasand/orasotherasagents

)as-
asd.asmustasbeasinaswriting astoasallaspartiesas(lessor,aslessee,asbuyer,assellerasand/orasotherasagents

)

Agencyasdisclosuresasmustasalwaysasbeasinaswritingasandasmustasbeasgivenastoastheaspartiesasinv
as

olved.

4.asSalespersonasSamasSmithasisasassociatedaswithastheasDoeasBrokerage,aswhichasisasownedasb
yasbrokerasJaneasDoe.asIfasSmithasobtainsasaaslistingascontract,aswhichasinformationasMUSTasapp
earasinasanyasadvertisementasforasthataslisting?as

,asa.asSamasSmith,asRealasEstateasSalespersonas
asb.asSam asSmithasand asJaneasDoe,asDoeasBrokerage. as

asc.asDoeasBrokerage as

asd.asEqualasHousingasOpportunity.as-asc.asDoeasBrokerage




Theasbrokerageasnameasmustasalwaysasappearasonasanyasrealasestateasrelatedasadvertisements

5.asDisciplinaryasactionasmayasbeasbroughtasagainstasaasNevadaasBrokerasforasunknownasviolatio
nsasofasNevadaaslicenseesasassociatedaswithastheasNevadaasBrokerasbecauseastheasNevadaasBr
oker:as
asa.asisaspresumedastoasknowas

asb.ashasasemployedasthem as

asc.ashasasfailedastoasproperlyassupervise asthem as

asd.asholdsasonlyasaasNevadaasBroker-Salesperson aslicense as-

asc.ashasasfailedastoasproperlyassupervise asthem as




ItasisasaasrequirementasthatasNevadaasBrokersassuperviseastheirasNevadaasLicensees.asFailureas
as

toasdoassoascanasresultasinasfinesastoastheasNevadaasBroker.

6.asTheasmaximumasamountasthatascanasbeascollectedasfromasNVERRFasregardingasanyasoneasN
evadaaslicensee'sasactionsasis:as
asa.as$10,000as

asb.as$100,000as

asc.as$40,000as

asd.as$20,000as-asb.as$100,000




NRSas645.844as-
as

Recentaschangesasincreasedastheasamountaspayableastoas$25,000asperasincident,as$100,000as
as

perasNevadaasLicensee.

7.asNevadaasRealasEstateasCommissionersasare:as
asa.aselectedaseveryasthreeasyearsas

asb.aselectedaseveryasfourasyearsas

asc.asappointed asforastwoasyearsas

asd.asappointed asforasthreeasyearsas-asd.asappointedasforasthreeasyears




NRSas645.050asandasNRSas645.060as-asNVREC'sasareasappointedasforasaastermasofas3asyears.
as




8.asTheasaccountingasofasanasadvanceasfeeasmustasbeasmadeasbyastheasNevadaasBrokerastoastheasp
rincipal:as
asa.asonasthe asauthorizedasformaseveryasthreeasmonthsasregardlessasofastheasamountas

asb.aswithinasthreeasmonths,asregardlessasofastheasamountas

asc.aswithinasthreeasmonthsasifas$30.00asorasmoreas

asd.aswithinas30asdaysasofasanyastransaction asofas$30.00asorasmoreas-

asb.aswithinasthreeasmonths,asregardlessasofastheasamount

, asNRSas645.322as-
asThereasisasnoasspecificasformasneeded,astherefore,asb.asisastheascorrectasanswer.asAdvanceasfee

sasmustasbeasaccountedasforastoastheasprincipalasandastheasNVREDasmayasrequireasaccountingasal
so.

9.asTheasNevadaasRealasEstateasCommissionasisasappointedasby:as
asa.astheasNevadaasGovernoras

asb.astheasNevadaasRealasEstateasAdministratoras

asc.asthe asN.S.R.as(Nevada asStateasREALTORS®)as

asd.astheasNevadaasRealasEstateasDirectoras-asa.astheasNevadaasGovernor




NRSas645.050as-asNVREC'sasareasappointedasbyastheasNevadaasGovernor.
as




10.asWhichasisasNOTasaasrequiredasqualificationasofasaasNevadaasRealasEstateasCommissionasme
mber?as
asa.asU.S.ascitizenshipas

asb.asNevadaasresidencyasforasfiveasyearsas

asc.asAasNevadaasBrokerasforasthe aspreceding asthreeasyearsasorasNevada asBroker-

Salespersonasforasfiveasyearsas
asd.asActiveasNevadaasBrokerasforastwoasofastheaspreviousasfourasyearsas-

asd.asActiveasNevadaasBrokerasforastwoasofastheaspreviousasfourasyears




asNRSas645.090as-
asAasNVRECasmustasbeasanasactiveasNevadaasBrokerasforasatasleastasthreeasyearsasprecedingasap

pointmentasorasaasNevadaasBroker-Salespersonasforasfiveasyearsasprecedingasappointment.

11.asAasvalidasactasbyastheasNevadaasRealasEstateasCommissionasrequiresashowasmanyasNevada
asCommissioners'asvotes?as

asa.asAasmajorityasofasthe asNVREC'sasatasthe asmeetingas

asb.asThree as

asc.asFouras

asd.asAasmajorityasvoteascertifiedasbyastheaspresidentas-

asa.asAasmajorityasofasthe asNVREC'sasatasthe asmeeting




asNRSas645.160as-
asthereasisasnoasspecifiedasnumberasdueastoastheaspossibilityasthatasaascommissionasmeetingasmay
astakeasplaceaswithasaasmajorityasofasthe ascommissionersasbeingaspresent.asForasexample, as3asofast

heas5ascommissionersasareaspresentasatasaasmeeting,asonlyas2asneedasagreeasonasanasagendaasite
masforasacceptance.asTherefore,asonlyastheasmajorityaspresentasatastheasmeetingasconstituteasaasv
oteastoasconductasanasact.

12.asNevadaasRealasEstateaslicenseasfeesasareasdepositedasin:as
asa.astheasNevadaasRealasEstateasDivision asTreasuryas

asb.astheasNevadaasStateasGeneralasFundas

asc.asthe asNevadaasRealasEstateasLicenseasfund as

asd.astheasNVERRFas-asb.asthe asNevadaasStateasGeneralasFund