NEVADA TIMESHARE LICENSE PRACTICE QUESTIONS AND ANSWERS | GRADED A+
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Course
Nevada.
Institution
Nevada.
NEVADA TIMESHARE LICENSE PRACTICE QNEVADA TIMESHARE LICENSE PRACTICE QUESTIONS AND ANSWERS | GRADED A+
THE SALE OF TIMESHARE INTERESTS IN THE STATE OF NEVADA IS REGULATED UNDER THE PROVISIONS OF:
NRS 119a
The law that regulates real estate in Nevada is: NRS 645
1. Who...
THE SALE OF TIMESHARE INTERESTS IN THE STATE OF NEVADA IS REGULATED UNDER THE PROVISIONS OF:
The law that regulates real estate in Nevada is: NRS 645
1. Who appoints the Administrator of the Real Estate The Director of
Division? the Department of
Business and In-
dustry
2. Who appoints the Director of the Department of Busi- Governor
ness and Industry?
3. Who selects and appoints the Project Broker? Developer
4. If a timeshare agent initially becomes licensed on June 30, 2002
June 6, 2000, when will the license expire?
5. If a Sales Agent allows their license to expire, there is $100
a 1 year grace period in which they can still renew. In
addition to the cost of the required 6 hours of contin-
uing education, and license fee, the Agent will also
have to pay for new fingerprints, and a Late Renewal
Penalty of $ to the Real Estate Division. How
much is this penalty?
6. A timeshare owner with the same numbered week of Fixed use
ownership each year has...
7. What is fractional ownership? Ownership of an
interval of 1 month
to one-half year
8. Having timeshare ownership that may be used sea-
sonally or for a different week each year based on 9. Which of th
available and requiring a reservation is known as... following
reasons
,would NOT be cause for the Real Estate Division to Floating use
n
deny an application for timeshare sales license?
Driving Record
n
2 n/
30
, 10. You have just completed making a timeshare sale.
n n n n n n n Yes, they have to n n n
Your buyers go back to their hotel, and after dinner
n n n n n n n n n n right to revoke for
n n n n
and a few cocktails, they have second thoughts about
n n n n n n n n n any reason for 5
n n n n
the purchase. Can they change their minds and get
n n n n n n n n n calendar days
n n
out of the deal?
n n n n
11. Ted and Alice Smith have arrived at their timeshare A full refund
n n n n n n n n n n
resort and produced the confirmed reservation for a of their purchase
n n n n n n n n n n
unit. They are informed that the unit is NOT available. price
n n n n n n n n n n
Ted goes through the roof, but Alice knows that they
n n n n n n n n n
are entitled to all the following EXCEPT...
n n n n n n n
12. Any person who, on behalf of a developer, induces
n n n n n n n n Registered Repre- n
other persons to attend a sales presentation is a ...
n n n n n n n n n n sentative
n
13. How many hours of continuing education are re-
n n n n n n n 6 hours
n
quired for a licensed Timeshare Sales Agent?
n n n n n n n
14. Mr. Allen was named the project broker at a Nevada Sales agents and
n n n n n n n n n n n
timeshare resort. For which of the following most ac- representatives
n n n n n n n n n n
curately describes the people will he be
n n n n n n n
responsible for?
n n
15. In what year did the Nevada legislature pass the
n n n n n n n n 1983
statute governing timeshare sales?
n n n n
16. To effect an exchange, an owner of a floating use
n n n n n n n n n The home resort n n
period MUST first secure a specific week through
n n n n n n n n
which of the following?
n n n n
17. A Broker that works on behalf of a Developer of Time- Project Broker
n n n n n n n n n n n
share to coordinate and supervise all sales activities
n n n n n n n n
is known as a...
n n n n
18. If the relationship changes between the Sales Agent, 10 days
n n n n n n n n n
Developer and/or the Broker, this must be reported to n n n n n n n n
the Real Estate Division within...
n n n n n
19.
3 n/
30
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