Mastersgrade

How many hours do you need to renew your salesperson license the second time? - ANSWER A total of 24 hours is required, including 12 hours live classroom of 3 hours each contracts, agency, Nevada law and ethics. The remaining 12 hours may be by correspondence in general studies. When does the commission have the right to revoke salespersons Stacy's license? - ANSWER Stacy deposited a buyer's down payment in her own bank account. Stacey commingled client funds with personal funds. This is...

Provide the buyer with a duties owed by a nevada licensee - ANSWER if an unrepresented buyer submits an offer directly to eh listing agent what must the agent provide? the sellers real property disclosure - ANSWER only the seller and the seller only can fill out what disclosure? $100,000 - ANSWER what is the maximum liability of the ERRF for any individual person is... $25,000 - ANSWER what is the maximum amount, per judgment, that can be paid out of the ERRF?

Provide the buyer with a duties owed by a nevada licensee - ANSWER if an unrepresented buyer submits an offer directly to eh listing agent what must the agent provide? the sellers real property disclosure - ANSWER only the seller and the seller only can fill out what disclosure? $100,000 - ANSWER what is the maximum liability of the ERRF for any individual person is... $25,000 - ANSWER what is the maximum amount, per judgment, that can be paid out of the ERRF? consent to act - ANSWER...

who CANNOT have a NV real estate license or personal / financial interst in NV real estate company - ANSWER NVRED / NVREDA Whats NOT open to the public? - ANSWER Broker/brokersalperson exam, criminal and financial records NVRED duties? (4) - ANSWER customer service issuing and renewing license investigation checking NV brokers office Who helps NVRED? - ANSWER The Attorney General Where Are NV Licensee's Fees, penalties & charges Placed? - ANSWER Nevada State General Fund What...

The Uniform Vendor and Purchaser Risk Act refers to what relationship? - ANSWER The vendor and vendee difference between vendor and vendee - ANSWER vendor=seller in land contract purchase vendee= buyer in land contract purchase Prior to closing an escrow or signing of NV sales contract, you must be notified of the zoning - ANSWER true A NV gaming overlay map is REQUIRED to be given to all new home sales - ANSWER false. Only new home sales in a county of 700,000 + Home developers mu...

Land - ANSWER Surface, all natural things attached to it, subsurface, and air above the surface. Real Estate - ANSWER land plus manmade permanent attatchments Real property - ANSWER Real estate plus "bundle of legal rights" Bundle of Rights - ANSWER PUTEE (possess, use, transfer, exclude, encumber) Physical characteristics of real estate - ANSWER immobility, indestructibility, heterogeneity Immobility - ANSWER Land cannot be moved from one site to another, its location is foreve...

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 ...

Nevada real estate division - ANSWER Principle office in south (las vegas) Branch office in north (carson city) Requirements for Nevada real estate division employees - ANSWER Cannot have NV real license What nv real estate records are available to the public? - ANSWER All records held at the division are open to the public... except broker sales persons exam scores, criminal records of agent unless court ordered What are the duties of NV real estate division? - ANSWER 1.Issuing and re...

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 ...

One act makes you a realtor- - ANSWER Any person, company, corporation acting as a realtor will be prosecuted by the Attorney General of the county were the act occurred Dual Agency- - ANSWER now known as Multiple Agency. Old common law where one agent represented both buyer and seller Assigned Agency - ANSWER happens when two agents working for the same broker, represent different parties in the same transaction. Agents - ANSWER Cannot disclose personal information for one year after c...