Nevada Law Quiz Questions and
Answers 100% PASS
A real estate salesperson decides to sell his or her own property without using a
broker. When advertising the property, the salesperson - CORRECT ANSWER-
Must disclose the fact that he or she is a real estate licensee
A salesperson who wishes to place his or her own "For Sale" sign on a listed
property must - CORRECT ANSWER-Identify the broker on the sign and may
identify the salesperson
Commissions earned by a broker in a real estate transaction - CORRECT
ANSWER-Are determined by agreement of the broker and his or her principal
In Nevada, real estate commissions are - CORRECT ANSWER-Negotiable
between the client and broker
A broker received an earnest money deposit (EMD) from a buyer, payable to the
brokerage. Under Nevada law, the broker should - CORRECT ANSWER-Hold
the earnest monet deposit in a secure place in the brokers real estate brokerage
office until the offer is accepted , than deposit into the brokerage trust account
within one banking day.
, A broker manages three properties for the same owner under separate property
management agreements. One property is in need of emergency repairs, but there
is not enough money in the management account to cover the cost. The broker
borrows money from the escrow account of one of the other properties to make
the repairs. Which of the following is true? - CORRECT ANSWER-The broker is
in violation of regulation for improperly handling trust funds.
In Nevada, brokers and salespersons who are not lawyers may - CORRECT
ANSWER-Fill in the blanks on preprinted form contracts customarily used in their
community
Regarding exclusive-listing agreements in Nevada, which of the following could
result in the suspension or revocation of a licensee's license to practice real estate? -
CORRECT ANSWER-No specific termination date
Upon obtaining a listing, a broker or licensed salesperson is obligated to -
CORRECT ANSWER-Give the person signing the listing a legible, signed, true
and correct copy at the time of signing or as soon as practicable thereafter.
A salesperson engaged in activities that constitute violations of the NRS 645
including blockbusting and discrimination on the basis of disability. The
salesperson also cashed a $25,000 earnest money check from a prospective buyer
and used the proceeds to buy a new car. The salesperson's employing broker was
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
Answers 100% PASS
A real estate salesperson decides to sell his or her own property without using a
broker. When advertising the property, the salesperson - CORRECT ANSWER-
Must disclose the fact that he or she is a real estate licensee
A salesperson who wishes to place his or her own "For Sale" sign on a listed
property must - CORRECT ANSWER-Identify the broker on the sign and may
identify the salesperson
Commissions earned by a broker in a real estate transaction - CORRECT
ANSWER-Are determined by agreement of the broker and his or her principal
In Nevada, real estate commissions are - CORRECT ANSWER-Negotiable
between the client and broker
A broker received an earnest money deposit (EMD) from a buyer, payable to the
brokerage. Under Nevada law, the broker should - CORRECT ANSWER-Hold
the earnest monet deposit in a secure place in the brokers real estate brokerage
office until the offer is accepted , than deposit into the brokerage trust account
within one banking day.
, A broker manages three properties for the same owner under separate property
management agreements. One property is in need of emergency repairs, but there
is not enough money in the management account to cover the cost. The broker
borrows money from the escrow account of one of the other properties to make
the repairs. Which of the following is true? - CORRECT ANSWER-The broker is
in violation of regulation for improperly handling trust funds.
In Nevada, brokers and salespersons who are not lawyers may - CORRECT
ANSWER-Fill in the blanks on preprinted form contracts customarily used in their
community
Regarding exclusive-listing agreements in Nevada, which of the following could
result in the suspension or revocation of a licensee's license to practice real estate? -
CORRECT ANSWER-No specific termination date
Upon obtaining a listing, a broker or licensed salesperson is obligated to -
CORRECT ANSWER-Give the person signing the listing a legible, signed, true
and correct copy at the time of signing or as soon as practicable thereafter.
A salesperson engaged in activities that constitute violations of the NRS 645
including blockbusting and discrimination on the basis of disability. The
salesperson also cashed a $25,000 earnest money check from a prospective buyer
and used the proceeds to buy a new car. The salesperson's employing broker was
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
