Exam (elaborations)
Nevada Real Estate Law NRS 645 questions with correct answers
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Nevada Real Estate Law NRS 645 questions with correct answers
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Nevada Real Estate Law NRS 645 questions withcorrect answers
Additional meetings of the commission may be held at the call of the
president when there is sufficient business to come before the
commission. Written notice of time, place, and purpose of all meetings
must be given to each member at least Correct Answer-3 working days
before the meeting
The commission may by regulation delegate any authority conferred
upon it to the Correct Answer-Administrator
The provisions of the real estate license laws do NOT apply to Correct
Answer-An executor of an estate
When a real estate salesman terminates his employment with the real
estate broker by whom he was employed, such broker is required by
NRS 645 to Correct Answer-within 10 days deliver or mail to the
Division the license of such salesman, a written statement of the
circumstances surrounding such termination, and mail notice to such
salesman of these acts
When broker Sweet Sue complete a real estate transaction, she must
retain all records regarding the transaction for Correct Answer-5 years
All of the following records of a broker would be subject to inspection
and audit by the real estate division EXCEPT Correct Answer-Payroll
records for the office secretary
, (the brokers trust fund records, the availability of current statutes and
regulations at the place of business, and samples of the brokers methods
of advertising ALL can be)
The Commission consists of Correct Answer-5 members
A licensee's license can be suspended or revoked for Correct Answer-1.
Acting in the dual capacity of agent and undisclosed principal in any
transaction
2. Failure to submit all written bona fide offers to a seller the the offers
are received before the seller accepts an offer in writing and until the
broker has knowledge of that acceptance
3. Acting for more than one party in a transaction without the knowledge
of all parties for whom he acts
What is true about a broker who is licensed in Nevada and another state?
Correct Answer-Shall nevertheless maintain and operate a Nevada office
How many days does a broker have to correct any deficiency involving
advertising, business locations, office operation or a brokers sign?
Correct Answer-10 days
When a property is listed with a real estate firm, the broker Correct
Answer-must always disclose his agency relationship if he wishes to
purchase the property
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