Real Estate State Law Practice test 6
Exam Questions and Answers 100%
PASS
is illegal in Nevada.
It is illegal to have an automatic renewal on an exclusive listing - CORRECT
ANSWER-A broker signs an exclusive listing agreement with a seller. The
agreement contains the following clause: "If the Property has not been sold after
three months from the date of this signing, this agreement will automatically
continue for additional three-month periods thereafter until the property is sold."
Based on these facts, the agreement
Is legal under Nevada law because it contains a reference to a specific time limit
Is illegal in Nevada.
,Automatically receives a statutory six-month listing period to this open listing in
Nevada.
Is legal under Nevada law because the list periods are for less than six months
each.
Exclusive-listing contracts must discuss the seller's net return. The net return
would be part of the seller's net sheet, showing the net proceeds after all expenses
and fees at the COE. - CORRECT ANSWER-Under Nevada law, which of the
following statements is FALSE regarding an exclusive-listing contract?
Exclusive-listing contracts must be in writing.
Exclusive-listing contracts must include a specific termination date.
Automatic extension clauses are not allowed in exclusive-listing contracts.
Exclusive-listing contracts must discuss the seller's net return.
place advertisements in the local newspapers at least three times per week. The
advertising will be negotiated between client and broker. - CORRECT ANSWER-
Upon obtaining a listing, a broker or licensed salesperson is obligated to do all of
the following except:
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,Set up a listing file and issue it a number in compliance with specific guidelines
established by the Nevada Real Estate Commission
Place advertisements in the local newspapers at least three times per week.
Cooperate with every real estate office wishing to participate in the marketing of
the listed property whether or not they are members of MLS.
Give the person or persons signing the Listing a legible, signed, true, and correct
copy at the time of signing or as soon as practicable thereafter.
The broker should urge the client to contact a licensed attorney to prepare the
clause for inclusion in the sales contract. Licensees may not practice law. -
CORRECT ANSWER-If a buyer wants to have a clause included in the sales
contract under which the seller offers assurances against the existence of
werewolves, vampires, and trolls on the property. Which of the following
statements is TRUE in Nevada?
The broker should consult a law manual for proper wording and may include the
clause, because such standard supernatural disclosures are in general usage.
, The broker should urge the client to contact a licensed attorney to prepare the
clause for inclusion in the sales contract.
In Nevada, brokers are permitted to add additional clauses to blank form
contracts, such as the clause described here, that do not directly involve the
conveyance of title to real property
Under Nevada law, a frivolous clause, such as the one described here, is not
permitted and any contract containing such a clause will be invalid.
5 days from the date the new contract is executed. The contract must be accepted
or rejected within five days. - CORRECT ANSWER-A buyer has just entered into
a contract to buy a condominium unit from a person who originally bought the
unit from the developer and has lived there for the past 10 years. This new buyer
has a right to cancel the contract within
5 days of receipt of resale documents providing the contract dictates such
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
Exam Questions and Answers 100%
PASS
is illegal in Nevada.
It is illegal to have an automatic renewal on an exclusive listing - CORRECT
ANSWER-A broker signs an exclusive listing agreement with a seller. The
agreement contains the following clause: "If the Property has not been sold after
three months from the date of this signing, this agreement will automatically
continue for additional three-month periods thereafter until the property is sold."
Based on these facts, the agreement
Is legal under Nevada law because it contains a reference to a specific time limit
Is illegal in Nevada.
,Automatically receives a statutory six-month listing period to this open listing in
Nevada.
Is legal under Nevada law because the list periods are for less than six months
each.
Exclusive-listing contracts must discuss the seller's net return. The net return
would be part of the seller's net sheet, showing the net proceeds after all expenses
and fees at the COE. - CORRECT ANSWER-Under Nevada law, which of the
following statements is FALSE regarding an exclusive-listing contract?
Exclusive-listing contracts must be in writing.
Exclusive-listing contracts must include a specific termination date.
Automatic extension clauses are not allowed in exclusive-listing contracts.
Exclusive-listing contracts must discuss the seller's net return.
place advertisements in the local newspapers at least three times per week. The
advertising will be negotiated between client and broker. - CORRECT ANSWER-
Upon obtaining a listing, a broker or licensed salesperson is obligated to do all of
the following except:
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
,Set up a listing file and issue it a number in compliance with specific guidelines
established by the Nevada Real Estate Commission
Place advertisements in the local newspapers at least three times per week.
Cooperate with every real estate office wishing to participate in the marketing of
the listed property whether or not they are members of MLS.
Give the person or persons signing the Listing a legible, signed, true, and correct
copy at the time of signing or as soon as practicable thereafter.
The broker should urge the client to contact a licensed attorney to prepare the
clause for inclusion in the sales contract. Licensees may not practice law. -
CORRECT ANSWER-If a buyer wants to have a clause included in the sales
contract under which the seller offers assurances against the existence of
werewolves, vampires, and trolls on the property. Which of the following
statements is TRUE in Nevada?
The broker should consult a law manual for proper wording and may include the
clause, because such standard supernatural disclosures are in general usage.
, The broker should urge the client to contact a licensed attorney to prepare the
clause for inclusion in the sales contract.
In Nevada, brokers are permitted to add additional clauses to blank form
contracts, such as the clause described here, that do not directly involve the
conveyance of title to real property
Under Nevada law, a frivolous clause, such as the one described here, is not
permitted and any contract containing such a clause will be invalid.
5 days from the date the new contract is executed. The contract must be accepted
or rejected within five days. - CORRECT ANSWER-A buyer has just entered into
a contract to buy a condominium unit from a person who originally bought the
unit from the developer and has lived there for the past 10 years. This new buyer
has a right to cancel the contract within
5 days of receipt of resale documents providing the contract dictates such
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
