Timeshare terms - Study guides, Class notes & Summaries

An insurance policy which combines personal liability insurance and hazard insurance coverage for a dwelling and its contents is called - Answer-Homeowners insurance What is the status of a contract when all the terms have been fulfilled and the transaction has been closed? - Answer-Fully executed Surface rights, air, rights, and subsurface rights are all rights that can be sold by a property owner while still retaining the property itself. These rights are known as: - Answer-Several right...

A subdivider employés hostesses to show houses. The hostesses explain the features of the homes and gave the prices and terms. In this scenario: a. Only the sales broker needs to be licensed b. Hostesses are employees only and need not be licensed c. The hostesses must be licensed d. As long as they do not accept deposits and do not write up sales, the hostesses need not be licensed - Answer-c. The hostesses must be licensed A timeshare would be required to have a public report if: a. T...

Timeshare Final Exam Questions and Answers 2024 with complete solution In terms of the U.S. economy, was is the total economic contribution of the timeshare industry? a. $7.0 Billion b. $70 Billion c. $7.0 Million d. $70 Million - answer$70 billion Which of the following is NOT a facet of the timeshare industry a. Factory production b. Sales & Marketing c. Resort Operations/management d. Real estate development - answerFactory production T or F: All timeshare can be willed to an ...

How long are the terms for members of the Colorado Real Estate Commission? Six Years Three Years Four Years Five Years - ANSWER-Three Years "The Division has a five-member Commission that meets bi-monthly to conduct rulemaking hearings, make policy decisions, consider licensing matters, review complaints and take disciplinary action against real estate brokers. The five Commission members consist of three real estate brokers, one of whom has substantial experience in property management,...

Statute of frauds - Law that contracts involving the creation or conveyance of an interest in real property must be in writing to be enforceable. Group boycott - An illegal agreement between parties to not do business with a particular person or company. Antitrust law - Laws relating to the suppression of competition in the marketplace. Are penalties for license law civil or criminal? - License law violations are considered gross misdemeanors, so penalties may be civil or criminal. Are ti...

Sales Associates knowledge should include Property transfer, market conditions, how to market real estate and businesses Al licensed or certified appraiser is always required when an original loan is federally related If a sales Associate moved from Florida to San Diego to work for the same Broker The commission must be notified within 60 days A Florida Resident is defined as a person who has been/intends to reside in Florida for 4 months Individiuals who earned a...

Easement A limited right to make use of a property owned by another. Appurtenant Runs with the land Easement Appurtenant An easement allowing the use of a neighboring property Which type of ownership includes the right of survivorship? Joint Tenancy Fully Executed A contract that has all of its terms and conditions met. Master01 | October, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ Severable Rights surface, air, subsurface can be sold separatel...

Timeshare Test Questions & Answers A major reason for mixed use development is the high cost of marketing. - False Annual dues paid by the timeshare owners DOES NOT cover which of the following - Referral marketing As a resort developer, which option has the most ongoing liability for me after sell out? - mixed use development The timeshare business is especially appealing due to the four core revenue sources: - real estate sales, property management, financing, mortgage note sale...

Timeshare Sales and Contracts Exam Questions and Answers 100% Pass Because of the complexities of the product, the timeshare sales person will spend approximately what percentage of the timeshare presentation on product knowledge? - Correct Answer ️️ -10% After a prospect indicates a willingness to purchase, the salesperson's next big challenge is to: - Correct Answer ️️ -Ensure that all components of the purchase contract are covered and clearly understood. A promissory note re...

ARKANSAS RE state exam Questions and Answers 100% Pass As a licensee, you'll have several tasks you must perform for your buyer client. One of these tasks is to - Correct Answer ️️ -review transaction documents with the buyer, clarifying anything that could be confusing, without stepping outside the scope of your license Wyatt is a licensed broker and an appointed member of the Arkansas real estate commission. All of the following are a part of his duties and responsibilities as a me...