Timeshare Test Exam 2026 Questions and
Answers
An owner who has a leasehold in a timeshare condominium has:
A. Whole ownership
B. Fee simple ownership
C. Interval of time
D. Cooperative - Correct Answer -C. Interval of time
A timeshare agent is a person who is
A. Project Broker
B. Person who sells timeshares on behalf of a developer
C. Person who induces others to attend a timeshare presentation - Correct Answer -
B. Person who sells timeshares on behalf of a developer
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,Until closing, all monies, negotiable instruments or other deposits pertaining to the
sale of a timeshare must be placed in:
A. An escrow agent account approved by the Division
B. A trustee account approved by the Division
C. Brokers personal bank account
D. Brokers trust account - Correct Answer -A. An escrow agent account approved
by the Division
Which document must be reviewed and signed by the purchaser before the
execution of any contract for the sale of the timeshare:
A. Truth in Lending
B. Public offering Statement
C. Acknowledgments
D. Purchase agreement - Correct Answer -B. Public offering Statement
A right to use timeshare project offers the purchaser of a timeshare interest:
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, A. Fee simple interest
B. Membership in a club
C. Tenancy in common
D. Joint tenancy - Correct Answer -B. Membership in a club
Developers must comply with laws from what government agency? - Correct
Answer -Federal, City, and State
A state in NRS 119A.120 who is defined as a representative? - Correct Answer -A
person who is not a sales agent but who on behalf of developer induces other
persons to attend a sales presentation
Who or what below is not included in the definition of a "Person" as stated in NRS
119A.070?
A. A government
B. A purchaser
C. A government agency
D. A political subdivision of a government - Correct Answer -B. A purchaser
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Answers
An owner who has a leasehold in a timeshare condominium has:
A. Whole ownership
B. Fee simple ownership
C. Interval of time
D. Cooperative - Correct Answer -C. Interval of time
A timeshare agent is a person who is
A. Project Broker
B. Person who sells timeshares on behalf of a developer
C. Person who induces others to attend a timeshare presentation - Correct Answer -
B. Person who sells timeshares on behalf of a developer
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Until closing, all monies, negotiable instruments or other deposits pertaining to the
sale of a timeshare must be placed in:
A. An escrow agent account approved by the Division
B. A trustee account approved by the Division
C. Brokers personal bank account
D. Brokers trust account - Correct Answer -A. An escrow agent account approved
by the Division
Which document must be reviewed and signed by the purchaser before the
execution of any contract for the sale of the timeshare:
A. Truth in Lending
B. Public offering Statement
C. Acknowledgments
D. Purchase agreement - Correct Answer -B. Public offering Statement
A right to use timeshare project offers the purchaser of a timeshare interest:
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, A. Fee simple interest
B. Membership in a club
C. Tenancy in common
D. Joint tenancy - Correct Answer -B. Membership in a club
Developers must comply with laws from what government agency? - Correct
Answer -Federal, City, and State
A state in NRS 119A.120 who is defined as a representative? - Correct Answer -A
person who is not a sales agent but who on behalf of developer induces other
persons to attend a sales presentation
Who or what below is not included in the definition of a "Person" as stated in NRS
119A.070?
A. A government
B. A purchaser
C. A government agency
D. A political subdivision of a government - Correct Answer -B. A purchaser
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