Nevada Real Estate Exam Package Deal

1. 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 ...

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...

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 p...

After the collection of the advance fee, when should it be itemized and accounted for? - Answer 3 months What must one have in order to collect an advance fee? - Answer A real estate license. How many days for broker to refund buyers on land purchase? - Answer 15 day Public offerings must c...

Nevada BROKER salesperson/BROKER education - Answer - 90 hours of instruction which includes: 45 hours of law, 45 hours of principles Broker testing - Answer - Pass a NV Testing Center 50 question Nevada State Brokers test with a 75% or better: One hour to complete - Pass a NV Testing Center 80 ...

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 Embezzle...

The Nevada legislation which sets forth the rights, obligations, and duties of the parties under most residential lease transactions is known as: - Answer The Residential Landlord and Tenant Act. Which of the following lease types is the most common lease used in residential apartments or homes? ...

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 L...

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 accounta...

Broker must maintain an office that is: - Answer -Easily accessible to the public. -In a private room/separate room for real estate business. -Sign must be posted with the name of the broker clearly displayed - visible from nearest sidewalk, street, or highway. -If in office building, brokers si...