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NV STATE TEST QUESTIONS AND
ANSWERS ALREADY PASSED
Identify the broker on the sign and may identify the salesperson ✔✔A salesperson who wishes to place his or her own "For Sale" sign on a listed property must
Must disclose the fact that he or she is a real estate licensee ✔✔A real estate salesperson decides to sell his or her own property without using a broker. When advertising the property, the salesperson
Negotiable between the client and broker ✔✔In Nevada, real estate commissions are
Are determined by agreement of the broker and his or her principal ✔✔Commissions earned by a broker in a real estate sales transaction
A broker received an earnest money deposit from a buyer, payable to the brokerage. Under Nevada law, the broker should ✔✔Hold the earnest money deposit in a secure place in the broker's real estate brokerage office until the offer is accepted then deposit into the brokerage trust account within one banking day
The broker is in violation of regulations for improperly handling trust funds ✔✔A broker manages three properties for the same owner under separate property management agreements. One property is in need of emergency repairs, but there is not enough money into the management account to cover the cost. The broker borrows money from the escrow account of one of the other properties to make the repairs. Which of the following is true?
In Nevada, brokers and salespeople who are not lawyers may ✔✔Fill in blanks on preprinted form contracts customarily used in their community
No specific termination date ✔✔Regarding exclusive-listing agreements in Nevada, which of the following could result in the suspension or revocation of a licensee's license to practice real estate?
Upon obtaining a listing, a broker or licensed salesperson is obligated to ✔✔Give the person or persons signing the listing a legible, signed, true, and correct copy at the time of signing or as soon as practicable thereafter
The employing broker may be disciplined by the real estate commission for failure to supervise ✔✔A salesperson engaged in activities that constitute violations of the NRS 645 including blockbusting and discrimination on the basis of disability. The salesperson also cashed a $25,
The division must be notified within 10 days ✔✔When a licensed broker changes his or her place ornate business,
Closing of title by the purchaser occurred ✔✔In Nevada, in order to sue for commission, all of the following are necessary for a listing broker to be entitled to a commission EXCEPT that
How is broker's commission determined in a real estate transaction? ✔✔It must be stated in the listing agreement and is negotiable between the broker and seller
Obtains a cooperating certificate to work through a Nevada broker ✔✔A broker is licensed in Montana only. The broker wants to sell lots in Nevads a salesperson mobile home sites to Montana clients as winter homes. The broker may do this if the broker
Yes, he may have both offices, but he must maintain Nevada records in Nevada, not Idaho ✔✔An Idaho broker is moving to Nevada and wouldn't like to maintain offices in both states. Is this possible?
Regarding singage, a broker must have a sign ✔✔Visible beauty from the nearest public sidewalk, street, or highway, on the building directory, or at the entrance of the business
16 credits for every 2 years active experience ✔✔Waiver of the pre-licensing educational requirements for brokers and broker-salespeople is made for active experience as a salesperson according to which pattern?
Two years out of the last four years ✔✔What is the active experience requirement for the Jennings to become a broker or a branch manager as a managing broker-salesperson?
30 days ✔✔A salesperson has left a real estate brokerage, and husband licensed has been returned to the division. What maximum time is allowed for re-affiliation before the license is place she on inactive status?
A cop you must immediately be left with the seller after signing the listing ✔✔All of the following are requirements for an exclusive-right-to-sell listing EXCEPT that
Yes, if the buyer and seller both give their consent to act ✔✔A real estate company has entered into agency agreements with nothing a seller and a buyer. The buyer is interested in making an offer on the seller's property. Can this occur?
The cracked foundation, but disclosing the suicide could constitute a breach of duty to the client ✔✔A real estate broker representing the seller knows that the property has a cracked foundation and that its formerly owner committed suicide in the kitchen. The broker must disclose
By the governor ✔✔How are members of the real estate commission selected?
A motion from the members of the local Real estate association ✔✔The Nevada Real Estate division may undertake an investigation of a licensees based in all the following grounds EXCEPT
Prosecution by the district attorney ✔✔An unlicensed individual who engages in activities for which a real estate license is required is subject to whichever of the following?
There is no "free" time ✔✔A licensee who allows husband or her license to expire has how long to reinstate the license without monetary penalty?
Explain simple contract documents to prospective buyers ✔✔In Nevada, an unlicensed real estate assistant may perform all of the following activities EXCEPT
Not pay a commission to the assistant under the facts presented here. They are both in violation of rules regarding payment of fees to unlicensed persons performing duties for which a license is required ✔✔A broker's unlicensed assistant worked late nights and weekends to help ensure the successful closing of a difficult transaction. The assistants extra work included making several phone calls to the prospective buyers, encouraging them to accept the sellers counteroffer largely because of the assistants efforts, the sale went through with no problem. Now the broker wants to pay the assistant a percentage of the commission, "because the assistant has really earned it." Under Nevada law, the broker may
Members of the commission are selected by the state association of REALTORS ✔✔All of the following statements regarding the Nevada Real Estate Commission are true EXCEPT that
Within one year after having been awarded a judgment by the courts; in this case, by Dec 20, 2000 ✔✔A broker commits a fraudulent act in connection with the sale of a property on March 15, 1999. On March 30, the transaction closes. On November 1, the client sued the broker, alleging fraud. On December 20, the jury find some in favor of the client and the broker doesn't no trust appeal. When must the client file a claim with the real estate commission to recover money from the real estate education, research, Andrea recovery fund?
