Nevada real estate exam - Study guides, Class notes & Summaries

Nevada Real Estate State Exam Questions and Answers 100% Correct Nevada Real Estate State Exam Questions and Answers 100% Correct Nevada Real Estate State Exam Questions and Answers 100% Correct 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 Cent...

NEVADA REAL ESTATE EXAM PREP QUESTIONS WITH COMPLETE ANSWERS 30. A foreclosure sale is ______. - Answer-an auction sale to the highest bidder - A foreclosure sale occurs when the owner cannot sell the property via short sale. If it doesn't sell in a foreclosure auction, it becomes property of the lending institution. 31. When the agent and the principal agree that the agent will represent the principal, it is called _______. - Answer-express agency - with express agency, both the agent an...

1. How much time is given to pass the NV salesperson exam? - 4 hours - 240 minutes or 4 hours total 2. How many continuing education hours are required? - 24 hours - State of NV requires salesperson to complete 24-hours of continuing education every 2 years in each 4 year licensing term 3. In order to obtain a NV real estate license you must have a HS diploma? - True - you must have a HS diploma or equivalent 4. How often must you renew your sales agent license? - Every 2 years - NV sal...

Nevada Real Estate Exam Questions and Answers 100% Pass 1. What is the minimum balance of the real estate education, research, and recovery fund? A) $300,000. B) $100,000. C) $250,000. D) $500,000. - Answer- a 2. How long after the signing of a contract for the purchase of a lot in NV or anywhere else may the purchaser cancel the transaction? A) 24 hours B) within five calendar days C) five business days D) or one week - Answer- b 3. In NV, who is responsible prior to closing for c...

Nevada Real Estate: Practice State Exam Corrections 100% Pass The following would likely disqualify Smith from receiving a license 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 Embezzlement Theft or misappropriation of funds placed in one's trust or belonging to one's employer Jones has left ARM Realty and his license...

Nevada Real Estate Exam Prep (Mandated Disclosures) Questions and Answers Already Passed 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 100. D When the broker represents the owner of the property objectives of the seller should not be disclosed. 101. A real estate salesperson advised a prospect...

Nevada Real Estate Exam Prep (Mandated Disclosures) Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

Land - CORRECT ANSWER-Surface, all natural things attached to it, subsurface, and air above the surface. Real Estate - CORRECT ANSWER-land plus manmade permanent attatchments Real property - CORRECT ANSWER-Real estate plus "bundle of legal rights" Bundle of Rights - CORRECT ANSWER-PUTEE (possess, use, transfer, exclude, encumber) Physical characteristics of real estate - CORRECT ANSWER-immobility, indestructibility, heterogeneity Immobility - CORRECT ANSWER-Land cannot be mo...

Nevada Real Estate Exam Prep (Mandated Disclosures) What is required to advertise a property for sale in Nevada? ️️ Nevada real estate agents must have written permission from the property owner and ensure all advertisements include the brokerage name to comply with state regulations. What is "clear title" in a Nevada real estate transaction? ️️ Clear title means the property is free from any liens or claims, allowing the buyer to take ownership without any legal encumb...

NEVADA REAL ESTATE EXAM #1 QUESTIONS WITH CORRECT ANSWERS (DEFINITE PASS) A specific lien on real property includes: a) unpaid federal taxes b) special assessments c) an easement d) exclusionary zoning - Answer-b (special assessments) The process for implementing the taking of private property for public use wherein just compensation is paid to the owner is called: a) eminent domain b) condemnation c) escheat d) assessment - Answer-a (eminent domain) An appraiser received figu...