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

Amortized Loans - ANSWER-Constant payment including principle and interest until paid off Conventional Loan - ANSWER-No government back; private Gross Lease - ANSWER-Fixed amount- Residential rental Net Lease - ANSWER-Fixed plus maintenance; Triple Net = tax & insurance also Percentage Lease - ANSWER-Fixed + % of profits ;; mall, retail spaces Ground Lease - ANSWER-Long term land lease-- 99+ yr lead;; to build Leaseback - ANSWER-Seller leases back after closing; model homes ...

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 ...

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...

The Nevada legislation which sets forth the rights, obligations, and duties of the parties under most residential lease transactions is known as: - ANSWER-The Residential Landlord and Tenant Act. Which of the following lease types is the most common lease used in residential apartments or homes? - ANSWER-Gross lease A two-day stay in a hotel room can be considered: - ANSWER-An estate for years. A situation in which someone is both the tenant and the landlord to the same property occurs ...

Amortized Loans - ANSWER Constant payment including principle and interest until paid off Conventional Loan - ANSWER No government back; private Gross Lease - ANSWER Fixed amount- Residential rental Net Lease - ANSWER Fixed plus maintenance; Triple Net = tax & insurance also Percentage Lease - ANSWER Fixed + % of profits ;; mall, retail spaces Ground Lease - ANSWER Long term land lease-- 99+ yr lead;; to build Leaseback - ANSWER Seller leases back after closing; model homes ...

. 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 c...

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...

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...

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 ...

Nevada Real Estate Exam Prep Questions with Correct Answers 1. 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...