Nevada Real Estate Law Test Already Graded A+
How soon must a salesperson provide paperwork to his broker? ️️Within Five Calendar Days
When must a licensee give client a copy of a brokerage agreement? ️️Upon Signing
When must the licensee provide a closing statement to seller and the ...
How soon must a salesperson provide paperwork to his broker? ✔️✔️Within Five Calendar Days
When must a licensee give client a copy of a brokerage agreement? ✔️✔️Upon Signing
When must the licensee provide a closing statement to seller and the buyer? ✔️✔️Within 10 days
after close of escrow
How soon must earnest money be turned into the broker or owner developer? ✔️✔️Within 1 business
day
How many members are part of the commission? ✔️✔️5
Who appoints the members of the commission? ✔️✔️The Governor
Who approves pre-license, post-license, and continuing education courses? ✔️✔️Commission
Who administers real estate law? ✔️✔️Real Estate Divison
What is the chief executive officer called? ✔️✔️Administrator
Composition of commission? ✔️✔️3 from Clark County, 1 from Washoe County, and 1 from remainder
of the State
How many terms can the commission serve? How many consecutive terms? ✔️✔️3 year terms and no
more than 2 consecutive terms
, How many years of residency does a U.S. Citizen need? ✔️✔️no more than 5 years
Qualifications of commissioners. How many years of active real estate broker? ✔️✔️3 years
How many years of real estate broker-salesperson? ✔️✔️5 years before appointment
When must the completed SRRPD form be delivered to the buyer? ✔️✔️At least 10 days before the
close of escrow
How many days does the buyer have to rescind transaction? ✔️✔️The buyer has four working days
within which to rescind the transaction
Exemptions of SRRPD Form ✔️✔️Property Sold by Foreclosure, property sold between co-owners, the
first sale of a residence constructed by a licensed contractor, a relocation company
When must a salesperson or broker salesperson must provide paperwork to his broker within how many
days? ✔️✔️Five Calendar Days
When must a licensee provide the closing statement to the seller and the buyer? ✔️✔️Within 10 days
after close of escrow
When must a salesperson or broker salesperson who receives an earnest money deposit give the
deposit to the broker? ✔️✔️1 business day
Carl has been a Nevada Real Estate Commissioner for two consecutive terms. How long must e wait
before he can serve again? ✔️✔️3 years
A Nevada Real Estate Commissioner must be? ✔️✔️At least a Nevada Real Estate Broker-Salesperson
Who is responsible for the administration of Nevada Real Estate Law? ✔️✔️The NVRED
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