NEVADA TIMESHARE REAL ESTATE EXAM
SCRIPT 2026 UPDATED COMPLETE ANSWERS
GRADED A+
◉ If a timeshare AGENT initially becomes licensed on June 6, 2000,
when will the license expire? Answer: June 30, 2002 (end of the month -
2 years later)
◉ If a timeshare REPRESENTATIVE initially becomes licensed on June
6, 2009, when will the license expire? Answer: June 30, 2010 (end of the
month - 1 year later)
◉ An applicant for an original timeshare license MUST provide:
Answer: An application, certificates for passing the examination and
completing the 14 hour course, and $175
◉ If a timeshare agent is served notice that the division has filed charges
against him/her, he/she has how many days in which to file with the
Division and answer to the charges? Answer: 20 days
◉ A developer may NOT make a material change in the timeshare plan
without giving the Division at LEAST how many days notice? Answer:
10 days
,◉ If the highest monthly total of deposits received by a project is
$50,000 what is the amount of surety bond REQUIRED for the benefit
of the purchasers? Answer: $50,000
◉ What is a timeshare? Answer: A guaranteed reservation at the resort
of your choice
◉ What is a fractional ownership? Answer: Ownership of an interval of
1 month to 1/2 year
◉ The value of an individual timeshare usually. Answer: decreases in
value
◉ An agreement between two or more parties is called. Answer: a
contract
◉ The following elements are necessary to create an agency relationship
EXCEPT: Answer: consideration
◉ The following elements are necessary to create an agency
relationship: Answer: perception of representation, understanding, and
reliance
◉ Which of the following is NOT necessary to form a contract? Answer:
performance
, ◉ Which of the following is necessary to form a contract? Answer:
meeting of the minds, consideration, and competence
◉ The essential parts of a written contract include. Answer: competent
parties, mutual consent, consideration, and legal obligation
◉ Which statements MUST be printed above the purchaser's signature
one in each contract for sale of a timeshare? Answer: The purchaser of a
timeshare may cancel, by written notice, the contract of sale until
midnight of the fifth calendar day.
The right of cancellation may not be waived. Any attempt by the
developer to obtain a waiver results in a contract that is voidable by the
purchaser.
◉ Developer Tyson has defaulted on his project. Which clause provides
protection for prior purchasers? Answer: non-disturbance clause
◉ How would a prospective purchaser get the BEST deal on a
timeshare? Answer: buy it from an existing owner
◉ The purchaser may cancel the transaction. Answer: until midnight of
the 5th calendar day after signing
SCRIPT 2026 UPDATED COMPLETE ANSWERS
GRADED A+
◉ If a timeshare AGENT initially becomes licensed on June 6, 2000,
when will the license expire? Answer: June 30, 2002 (end of the month -
2 years later)
◉ If a timeshare REPRESENTATIVE initially becomes licensed on June
6, 2009, when will the license expire? Answer: June 30, 2010 (end of the
month - 1 year later)
◉ An applicant for an original timeshare license MUST provide:
Answer: An application, certificates for passing the examination and
completing the 14 hour course, and $175
◉ If a timeshare agent is served notice that the division has filed charges
against him/her, he/she has how many days in which to file with the
Division and answer to the charges? Answer: 20 days
◉ A developer may NOT make a material change in the timeshare plan
without giving the Division at LEAST how many days notice? Answer:
10 days
,◉ If the highest monthly total of deposits received by a project is
$50,000 what is the amount of surety bond REQUIRED for the benefit
of the purchasers? Answer: $50,000
◉ What is a timeshare? Answer: A guaranteed reservation at the resort
of your choice
◉ What is a fractional ownership? Answer: Ownership of an interval of
1 month to 1/2 year
◉ The value of an individual timeshare usually. Answer: decreases in
value
◉ An agreement between two or more parties is called. Answer: a
contract
◉ The following elements are necessary to create an agency relationship
EXCEPT: Answer: consideration
◉ The following elements are necessary to create an agency
relationship: Answer: perception of representation, understanding, and
reliance
◉ Which of the following is NOT necessary to form a contract? Answer:
performance
, ◉ Which of the following is necessary to form a contract? Answer:
meeting of the minds, consideration, and competence
◉ The essential parts of a written contract include. Answer: competent
parties, mutual consent, consideration, and legal obligation
◉ Which statements MUST be printed above the purchaser's signature
one in each contract for sale of a timeshare? Answer: The purchaser of a
timeshare may cancel, by written notice, the contract of sale until
midnight of the fifth calendar day.
The right of cancellation may not be waived. Any attempt by the
developer to obtain a waiver results in a contract that is voidable by the
purchaser.
◉ Developer Tyson has defaulted on his project. Which clause provides
protection for prior purchasers? Answer: non-disturbance clause
◉ How would a prospective purchaser get the BEST deal on a
timeshare? Answer: buy it from an existing owner
◉ The purchaser may cancel the transaction. Answer: until midnight of
the 5th calendar day after signing
