NEVADA TIMESHARE LICENSE EXAM PREP
TEST BANK 2026 FULL QUESTIONS WITH
VERIFIED ANSWERS
◉ Under what condition can a salesperson hold a client's money for 5
days? Answer: It is acceptable if the client puts it in writing.
◉ What is the cancellation period for a purchaser after signing a
transaction? Answer: A purchaser can cancel a transaction until midnight
of the 5th calendar day after signing.
◉ What must a project broker do within 10 days of a change with a sales
agent? Answer: A project broker must give written notice to the Division
of the change.
◉ When must a sales agent review the Public Offering Statement with a
prospective purchaser? Answer: Before any contract is signed.
◉ What is the Division's requirement for granting a license to
applicants? Answer: The Division must grant a license unless all fees
haven't been paid.
, ◉ When can a developer write on advertising without prior approval
from the division? Answer: When there is no compensation, such as a
story by the media.
◉ What is the notification requirement for a sales agent regarding a
guilty plea? Answer: A sales agent must notify the division of a plea of
guilty within 10 days.
◉ What is the maximum time a sales agent can hold a prospective
purchaser's credit card for a credit check? Answer: For a reasonable
amount of time.
◉ What color ink must be used on the Public Offering Statement page?
Answer: Red ink.
◉ What constitutes a quorum? Answer: A quorum constitutes 10%.
◉ What is the time frame for returning a deposit if a purchaser cancels a
contract? Answer: The project broker must return the deposit within 20
days.
◉ How many hours of continuing education must a salesperson
complete to renew their license? Answer: 6 hours.
TEST BANK 2026 FULL QUESTIONS WITH
VERIFIED ANSWERS
◉ Under what condition can a salesperson hold a client's money for 5
days? Answer: It is acceptable if the client puts it in writing.
◉ What is the cancellation period for a purchaser after signing a
transaction? Answer: A purchaser can cancel a transaction until midnight
of the 5th calendar day after signing.
◉ What must a project broker do within 10 days of a change with a sales
agent? Answer: A project broker must give written notice to the Division
of the change.
◉ When must a sales agent review the Public Offering Statement with a
prospective purchaser? Answer: Before any contract is signed.
◉ What is the Division's requirement for granting a license to
applicants? Answer: The Division must grant a license unless all fees
haven't been paid.
, ◉ When can a developer write on advertising without prior approval
from the division? Answer: When there is no compensation, such as a
story by the media.
◉ What is the notification requirement for a sales agent regarding a
guilty plea? Answer: A sales agent must notify the division of a plea of
guilty within 10 days.
◉ What is the maximum time a sales agent can hold a prospective
purchaser's credit card for a credit check? Answer: For a reasonable
amount of time.
◉ What color ink must be used on the Public Offering Statement page?
Answer: Red ink.
◉ What constitutes a quorum? Answer: A quorum constitutes 10%.
◉ What is the time frame for returning a deposit if a purchaser cancels a
contract? Answer: The project broker must return the deposit within 20
days.
◉ How many hours of continuing education must a salesperson
complete to renew their license? Answer: 6 hours.
