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Timeshare test 1 202 5 |100% solved | Questions and
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NRS 119 A - ✔✔The sale of timeshare interests in the State of Nevada is regulated under the provisions of... NRS 645 - ✔✔The Law that regulates real estate in Nevada is? The Director of the Department of Buisness - ✔✔Who supervises the Administrator of the Real Estate Division? The Governor - ✔✔Who appoints the Director of the Department of Business and Industry? Developer - ✔✔Who selects and appoints the Project Broker Behind on Child Support Payments Crimes of moral turpitude Previously revoked insurance sales license - ✔✔What are the following are reasons for the real estate division to deny a Sales Agent's License application? (except) Reckless Driving conviction June 30, 2002 - ✔✔If a timeshare licensed on June 6, 2000 when will the license expire?
Ownership of an interval of 1 month to the one-half year - ✔✔What is a fractional ownership? Decreases in value; therefore, buyers should not be encouraged to purchase as an investment opportunity. - ✔✔The Value of an individual timeshare usually? Fee Deed and title - ✔✔The purest form of ownership is? Un-deeded ownership Right to Use A member of a Club - ✔✔The leaseholder is an example of? Criminal record Driving Record Child support issues Crimes of moral turpitude (fraudulent activities) Previous license was revoked - ✔✔Which of the following reasons would be cause for the Real Estate Division to deny an application for timeshare sales license?
Appeals go to the Administrator, who assigns a Hearing Officer from the Department of Business and Industry - ✔✔If a licensee's application is denied, they may appeal the decision. Which statement best describes the appeal process? Sales agents and representatives - ✔✔Mr. Allen was named the project broker at a Nevada timeshare resort. For which of the following most accurately describes the people will he be responsible for? 1983 - ✔✔In what year did the Nevada legislature pass the statute governing timeshare sales? The exchange company - ✔✔To effect an exchange, an owner of floating use period MUST first secure a specific week through which of the following? The home resort - ✔✔A Broker that works on behalf of a Developer of Timeshare to coordinate and supervise all sales activities is known as a... 10 days - ✔✔If the relationship changes between the Sales Agent, Developer and/or the Broker, this must be reported to the Real Estate Division within... Provisional License until satisfactory results from the FBI finger print background check are received by the Division. - ✔✔The Division will issue a license to those who follow and complete the process set forth in NRS 119a. Initially, the division will issue a...
1 year - ✔✔If not resolved and converted to a full Sales License or invalided by the Division, a Provisional License will expire when? May not earn a commission from the Broker while the Sales Agent's license is in a Provisional condition. - ✔✔When a Provisional License is issued by the Division, there are certain restrictions that apply to the Sales Agent that include all of the following except... $25 paid to the Real Estate Division - ✔✔If an agent wants to leave one project and work for another, they must pay a fee of how much to reinstate their license with the new Broker and Developer? Preliminary Permit and a Bond sufficient to complete the project. - ✔✔A developer can offer to sell timeshare interest before the project is completed. This is known as a RESERVATION. What is the Developer required to have in order to take reservations? the Permit - ✔✔The authorization by the Division to sell or offer to sell timeshare is known as... Timeshare if they have more than 12 units - ✔✔NRS 119a apples to... Tenants in Common - ✔✔Perspective buyers John and Sue agree to purchase a timeshare. They want to take title with undivided interest, and will it to their children. How will they take title? Interest, Possession, Title and Time - ✔✔The 4 Equities of Ownership are...
The administrator - ✔✔According to NRS 119A, who is responsible for intrusting an investigation of timeshare violations? applies for registration the manner provided by the Division - ✔✔The administrator shall license as a representative each applicant who The Administrator - ✔✔If denied a license for a second time, to whom may an applicant appeal? The hearing officer - ✔✔Who is responsible for conducting hearings regarding violations of NRS 119A and NAC 119A? 10 days after change - ✔✔A project broker shall give written notice to the Division of a change of association of any sales agent associated within 18 - ✔✔What is the MINIMUM age which a person may receive a timeshare license? the license is available at the sales location - ✔✔Al had completed his 14-hour pre-licensing requirement and passed the Nevada TSA examination. He may conduct sales presentations for his developer provided that NRS 645 - ✔✔The section of Nevada Revised Statues that applies to real estate brokers and salespersons is
invalidate the license - ✔✔If the Division issues a license in error, the Division may provide an initial decision on a disciplinary matter - ✔✔The district court may do any of the following EXCEPT broker or broker-salesman with at least 2 years of experience - ✔✔A Developer will open six off-site sales offices. Each branch office MUST be supervised by a
