Nevada Timeshare Exam Questions and Answers 2025
.A cash transaction would require - ANSWER-A. Careful consideration of the
Truth in Lending Act
B. Careful consideration of Regulation Z
C. Careful consideration of the Consumer Credit Protection Act
D. Careful consideration of the Fair Housing Act
correct answer D
\A Consent to Act form - ANSWER-A. Outlines for the client the consequences of
the licensee's multiple representation
B. Requires the client's written authorization before the licensee may proceed
with representation
C. Must be used when a Sales Agent is representing both the buyer and seller in
a transaction
D. All the answers are true
correct answer D
\A contract - ANSWER-A. Is an agreement between parties to do or not to do
certain things
B. Is a promise or set of promises to perform or not to perform certain tasks
C. Can be oral or written
,D. All of the above
correct answer D
\A contract for the sale of a Time Share or any other evidence of an obligation
to purchase a Time Share must provide in 12-point bold style that the purchaser
is relieved of all obligations under the contract if his ownership interests are
terminated because of the foreclosure of liens against the project - ANSWER-A.
True
B. False
correct answer A
\A Deed is used to convey ownership of a fixed week, interval, Time Share that
includes real property. - ANSWER-A. Yes
B. No, because it is a right to use lease
C. No, it is only used for floating week, interval, and Time Shares
correct answer A
\A developer has a four-flex that he has turned into Time Shares. Does he need
to register with the Division? - ANSWER-A. No, because it is in a separate
building.
B. Yes, all Time Shares must be registered
C. No, because it is fewer than 12 in a project
D. Yes, because they will create a homeowners association
,correct answer: C
\A floating week interval include - ANSWER-A. Owns a specific number of weeks
each year
B. Owns the same unit for the same, specific week each year
C. Owns points that can be used towards days at a resort, rental car or cruise
D. Has the right to use the club and all of its amenities
correct answer: A
\A homeowner's association - ANSWER-A. Adopts and amends bylaws, rules and
regulations
B. Elects a board to govern and act on behalf of the association
C. Is a group formed by the residents of a housing community
D. All of the above
correct answer D
\A house would be an example of the collateral used for a mortgage - ANSWER-
A. True
B. False
correct answer A
, \A major type of mortgage program is - ANSWER-A. Federal Housing
Administration (FHA) loans
B. House Finance Committee (HFC) loans
C. House Financial Services Committee (HFSC) loans
D. All of the above
correct answer A
\A Nevada Real Estate Licensee must - ANSWER-A. Deal fairly with all parties
B. Keep informed of current statutes and regulations governing real estate, time
shares and related fields
C. Advertise only the price and terms agreed upon
D. All of the above
correct answer D
\A Project Broker is responsible for managing, educating, and monitoring
salespeople, Time Share Sales Agents, representatives, and employees -
ANSWER-A. True
B. False
correct answer B
\A project broker must keep records of every transaction clearly indicating
deposits, disbursements, dates, names of purchasers and salesman or sales
.A cash transaction would require - ANSWER-A. Careful consideration of the
Truth in Lending Act
B. Careful consideration of Regulation Z
C. Careful consideration of the Consumer Credit Protection Act
D. Careful consideration of the Fair Housing Act
correct answer D
\A Consent to Act form - ANSWER-A. Outlines for the client the consequences of
the licensee's multiple representation
B. Requires the client's written authorization before the licensee may proceed
with representation
C. Must be used when a Sales Agent is representing both the buyer and seller in
a transaction
D. All the answers are true
correct answer D
\A contract - ANSWER-A. Is an agreement between parties to do or not to do
certain things
B. Is a promise or set of promises to perform or not to perform certain tasks
C. Can be oral or written
,D. All of the above
correct answer D
\A contract for the sale of a Time Share or any other evidence of an obligation
to purchase a Time Share must provide in 12-point bold style that the purchaser
is relieved of all obligations under the contract if his ownership interests are
terminated because of the foreclosure of liens against the project - ANSWER-A.
True
B. False
correct answer A
\A Deed is used to convey ownership of a fixed week, interval, Time Share that
includes real property. - ANSWER-A. Yes
B. No, because it is a right to use lease
C. No, it is only used for floating week, interval, and Time Shares
correct answer A
\A developer has a four-flex that he has turned into Time Shares. Does he need
to register with the Division? - ANSWER-A. No, because it is in a separate
building.
B. Yes, all Time Shares must be registered
C. No, because it is fewer than 12 in a project
D. Yes, because they will create a homeowners association
,correct answer: C
\A floating week interval include - ANSWER-A. Owns a specific number of weeks
each year
B. Owns the same unit for the same, specific week each year
C. Owns points that can be used towards days at a resort, rental car or cruise
D. Has the right to use the club and all of its amenities
correct answer: A
\A homeowner's association - ANSWER-A. Adopts and amends bylaws, rules and
regulations
B. Elects a board to govern and act on behalf of the association
C. Is a group formed by the residents of a housing community
D. All of the above
correct answer D
\A house would be an example of the collateral used for a mortgage - ANSWER-
A. True
B. False
correct answer A
, \A major type of mortgage program is - ANSWER-A. Federal Housing
Administration (FHA) loans
B. House Finance Committee (HFC) loans
C. House Financial Services Committee (HFSC) loans
D. All of the above
correct answer A
\A Nevada Real Estate Licensee must - ANSWER-A. Deal fairly with all parties
B. Keep informed of current statutes and regulations governing real estate, time
shares and related fields
C. Advertise only the price and terms agreed upon
D. All of the above
correct answer D
\A Project Broker is responsible for managing, educating, and monitoring
salespeople, Time Share Sales Agents, representatives, and employees -
ANSWER-A. True
B. False
correct answer B
\A project broker must keep records of every transaction clearly indicating
deposits, disbursements, dates, names of purchasers and salesman or sales
