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Timeshare License Exam Quiz 4- Timeshare Questions and Complete Solutions Graded A+
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Timeshare License Exam Quiz 4- Timeshare Questions and Complete Solutions Graded A+
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Timeshare License ExamQuiz 4- Timeshare
Questions and Complete
Solutions Graded A+
Excluding any law, ordinance, r governmental regulation, any document creating or regulation timeshare
is known as - Answer: the timeshare instrument
As defined by NRS 119A a unit is the - Answer: portion of a project which is designated for separate use
A person or entity given the responsibility and obligation for daily operation of a timeshare resort is
referred to as the - Answer: resort manager
What is a fixed unit? - Answer: a specific unit
Which of the following refers to that portion of a property designated for separate use? - Answer: Unit
The report issued by the administrator authorizing a developer to offer to sell or sell timeshares is the -
Answer: Public Offering Statement (POS)
The person who is the equitable or the legal owner of a timeshare is the - Answer: owner
If you were employed to invite people to attend a timeshare presentation, you would be REQUIRED by
law to be registered as a - Answer: representative
, Who is responsible for providing legal opinions to the Real Estate Division? - Answer: The Attorney
General
According to NRS 119A, who is responsible for instructing an investigation of timeshare violations? -
Answer: The administrator
Who supervises the administrator ? - Answer: The Director of the Department of Business and Industry
The administrator shall license as a representative each applicant who - Answer: applies for registration
the manner provided by the Division
When are the timeshare permit renewals effective after the application is filed? - Answer: 30th day after
filing the application
Each timeshare agent license issued pursuant to NRS 119A expires - Answer: 2 years after the last day of
the calendar month in which the license was issued
Regulation Z means - Answer: 1. Truth in Lending
2. Disclosure of cost of credit to consumers
Who is responsible for paying assessments to the owners association for any unsold timeshares? -
Answer: Developer
When MUST exchange company information be furnished to at timeshare purchaser? - Answer: Prior to
signing any purchase agreement
If denied a license for a second time, to whom may an applicant appeal? - Answer: The administrator
Who is responsible for conducting hearings regarding violations of NRS119A and NAC 119A? - Answer:
The hearing officer
How long is a timeshare representative's registrations valid for? - Answer: 1 year
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