Timeshare Test #2 | 50 Questions with 100% Correct Answers | Updated & Verified
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Course
Timeshare
Institution
Timeshare
The Nevada Revised Statute that deals with the timeshare industry in Nevada is titled:
A. 1551
B. 119A
C. 119B
D. 645 - B. 119A
Timeshare right to use is considered:
A. A contractual agreement
B. Deed and title
C. An open arrangement
D. None of the above - A. A contractual agreement
Times...
Timeshare Test #2 The Nevada Revised Statute that deals with the timeshare industry in Nevada is titled: A. 1551 B. 119A C. 119B D. 645 - ✔✔B. 119A Timeshare right to use is considered: A. A contractual agreement B. Deed and title C. An open arrangement D. None of the above - ✔✔A. A contractual agreement Timeshare is: A. A great investment B. A way to freeze vacation costs C. Easily financed D. A good tax deduction - ✔✔B. A way to freeze vacation costs Fractional ownership of a timeshare is: A. From one day to 29 days B. A series of 21 day stays C. Weekends only D. One month to half of a year - ✔✔D. One month to half of a year An arrangement to do, not to do certain things is called: A. Declaration B. Contract C. Affidavit D. Testament - ✔✔B. Contract All are necessary to the creation of an agency relationship except: A. Consideration B. Agreement of both parties C. Princip al with capacity D. Mutuality - ✔✔B. Agreement of both parties Which of the following is not a necessary element in the information of a contract? A. Consideration. B. Acceptance C. Performance D. Offer - ✔✔C. Performance Financing for an individual t imeshare is done by the: A. Developer B. Local banks C. Visa/MasterCard D. The Financial Timeshare Corporation - ✔✔A. Developer The value of an individual timeshare unit usually: A. Goes up in value B. Goes down in value C. Stays about the same D. Varies from state to state - ✔✔B. Goes down in value Consideration in connection with a contract may be which of the following: A. Doing what a person is not legally required to do B. A promise not to do what a person is legally entitled to do
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