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Nevada Timeshare Regulations: A Comprehensive Guide to Sales and Licensing, Exams of Real Estate Management

A comprehensive overview of nevada timeshare regulations, covering key aspects of sales, licensing, and ownership. It includes a series of questions and answers that address common inquiries regarding timeshare transactions, licensing requirements, and legal obligations. Particularly useful for individuals seeking to understand the legal framework governing timeshare sales in nevada.

Typology: Exams

2024/2025

Available from 01/11/2025

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Timeshare test 1 2025|100% solved | Questions and
Correct Answers (Verified Answers) | A+ Grade
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?
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Timeshare test 1 202 5 |100% solved | Questions and

Correct Answers (Verified Answers) | A+ Grade

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