Nevada real estate stuvia - Study guides, Class notes & Summaries

100. A broker must NOT disclose to prospective buyer: a. about structural defects b. that zoning makes the present usage non-conforming c. that he has seen evidence of termites d. that the owner will accept less than the listing price - ANSWER-100. D When the broker represents the owner of the property objectives of the seller should not be disclosed. 101. A real estate salesperson advised a prospective buyer that the property the buyer was considering was scheduled for annexation into th...

74. A broker's fiduciary duty to a client includes all EXCEPT: a. sell his property b. care and diligence c. loyalty d. confidentiality - ANSWER-74. A The six components of a broker's fiduciary duty are loyalty, obedience, disclosure, confidentiality, reasonable care and diligence and accountability. 75. In a sub agency, the selling salesperson is responsible to the: a. seller b. buyer c. listing broker d. selling broker - ANSWER-75. D The salesperson is a subagent of the employing ...

1. What is the minimum balance of the real estate education, research, and recovery fund? A) $300,000. B) $100,000. C) $250,000. D) $500,000. - ANSWER-a 2. How long after the signing of a contract for the purchase of a lot in NV or anywhere else may the purchaser cancel the transaction? A) 24 hours B) within five calendar days C) five business days D) or one week - ANSWER-b 3. In NV, who is responsible prior to closing for calculating the pro-rations between the buyer and seller, o...

The following would likely disqualify Smith from receiving a license - ANSWER-Being delinquent in child support obligations, having had her license suspended, but not revoked in Arizona 4 years ago, having pled guilty to engaging in the real estate business without a real estate license Embezzlement - ANSWER-Theft or misappropriation of funds placed in one's trust or belonging to one's employer Jones has left ARM Realty and his license has been returned to the division. What maximum time...

How much time is given to pass the NV salesperson exam? - ANSWER-4 hours - 240 minutes or 4 hours total 2. How many continuing education hours are required? - ANSWER-24 hours - State of NV requires salesperson to complete 24-hours of continuing education every 2 years in each 4 year licensing term 3. In order to obtain a NV real estate license you must have a HS diploma? - ANSWER-True - you must have a HS diploma or equivalent 4. How often must you renew your sales agent license? - ANSW...

A Seller's Real Property Disclosure document is required for all of the following properties except a(n): For sale by owner, new home, resale residence, or home the has been inspected by a certified home inspector. - ANSWER-A SRPD is not required on a new home sale. NRS 113.130 A Nevada licensee must give the Duties Owed by a Nevada Licensee form to prospective purchaser or tenants: - ANSWER-no later than the time of entering an agreement to purchase or lease. The licensing law of Nevada ...

A Seller's Real Property Disclosure document is required for all of the following properties except a(n): For sale by owner, new home, resale residence, or home the has been inspected by a certified home inspector. - Answer A SRPD is not required on a new home sale. NRS 113.130 A Nevada licensee must give the Duties Owed by a Nevada Licensee form to prospective purchaser or tenants: - Answer no later than the time of entering an agreement to purchase or lease. The licensing law of Nevada ...

Amortized Loans - ANSWER-Constant payment including principle and interest until paid off Conventional Loan - ANSWER-No government back; private Gross Lease - ANSWER-Fixed amount- Residential rental Net Lease - ANSWER-Fixed plus maintenance; Triple Net = tax & insurance also Percentage Lease - ANSWER-Fixed + % of profits ;; mall, retail spaces Ground Lease - ANSWER-Long term land lease-- 99+ yr lead;; to build Leaseback - ANSWER-Seller leases back after closing; model homes ...

74. A broker's fiduciary duty to a client includes all EXCEPT: a. sell his property b. care and diligence c. loyalty d. confidentiality - ANSWER-74. A The six components of a broker's fiduciary duty are loyalty, obedience, disclosure, confidentiality, reasonable care and diligence and accountability. 75. In a sub agency, the selling salesperson is responsible to the: a. seller b. buyer c. listing broker d. selling broker - ANSWER-75. D The salesperson is a subagent of the employing ...

A real estate broker is: A. Liable for the conduct of associated licensees B. Only liable for the contact of an associated licensee if the broker knows about the licensees conduct C. Not liable for the conduct of an associated licensee D. Only liable for his own conduct - ANSWER-A. Liable for the conduct of associated licensees A broker must supervise the activities of a. all associated licensees and employees. b. only licensees retained as employees. c. only licensees retained as...