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

A real estate broker is: A. Liable for the conduct of associated licensees B. Only liable for the contact of an associated licensee if the broker knows about the licensees conduct C. Not liable for the conduct of an associated licensee D. Only liable for his own conduct - ANSWER-A. Liable for the conduct of associated licensees A broker must supervise the activities of a. all associated licensees and employees. b. only licensees retained as employees. c. only licensees retained as...

1. Real estate is BEST defined as: a. land and the air above it b. land, the air above it and everything above and below the ground c. land, the buildings on it and anything permanently attached to the land and/or buildings and all appurtenances d. land an all rights in the land - ANSWER-1. C Real estate is defined as: land plus improvements, buildings and other permanent attachments and appurtenances 2. Physical characteristics of real estate include: a. indestructibility b. scarcity ...

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 question Nevada National Brokers test with a 75% or better: Two hours to complete - Cost of Examination: $100 for both tests when taken at the same time, $100 each if Nevada State and National tests ...

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 property objectives of the seller should not be disclosed. 101. A real estate salesperson advised a prospective buyer that the property the buyer was considering was scheduled for annexation into th...

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 accountability. 75. In a sub agency, the selling salesperson is responsible to the: a. seller b. buyer c. listing broker d. selling broker - ANSWER-75. D The salesperson is a subagent of the employing ...

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 calculating the pro-rations between the buyer and seller, o...

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 term 3. In order to obtain a NV real estate license you must have a HS diploma? - ANSWER-True - you must have a HS diploma or equivalent 4. How often must you renew your sales agent license? - ANSW...

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 Embezzlement - ANSWER-Theft or misappropriation of funds placed in one's trust or belonging to one's employer Jones has left ARM Realty and his license has been returned to the division. What maximum time...

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 must give the Duties Owed by a Nevada Licensee form to prospective purchaser or tenants: - ANSWER-no later than the time of entering an agreement to purchase or lease. The licensing law of Nevada ...

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 must give the Duties Owed by a Nevada Licensee form to prospective purchaser or tenants: - Answer no later than the time of entering an agreement to purchase or lease. The licensing law of Nevada ...