NV State Law Practice Test
1. Which of the following are necessities with recognize to managing a Nevada main or branch
office by using a Nevada Broker-Salesperson?
A. Full-time licensee for two of the four years previous
b. Full-time active brokerage experience for two of the 4 years preceding
c. Full-time lively revel in for 2 of the 3 years preceding
d. Full-time status, meaning thirty hours in line with week for the past 18 months - ANS-a.
Full-time licensee for 2 of the 4 years previous
To be a Broker-salesperson, you must have of the preceding four years full-time enjoy in real
property and beyond brokers check and be broking or dealer - salesperson
2. To be an lively Broker in Nevada, you ought to:
a. Have your essential workplace in your own home
b. Have an office along with another enterprise
c. Have an workplace in an area zoned properly
d. Must have a place of work - ANS-c. Have an office in an area zoned properly
NAC 645.627 - Nevada Brokers are required to have a bodily workplace and it must be in an
area well zoned for such commercial office operation. Answer d. Could be correct, but c. Is the
better solution.
3. In an corporation disclosure requirement, a statement figuring out the fundamental and the
dealers fiduciary obligation to that main is required:
a. Only if the agent is representing more than one most important in the transaction
b. Only to the other licensee involved in the transaction
c. Most effective required when there's a Nevada Cooperating Broker
d. Must be in writing to all parties (lessor, lessee, buyer, supplier and/or different sellers) -
ANS-d. Should be in writing to all events (lessor, lessee, buyer, dealer and/or different retailers)
Agency disclosures ought to usually be in writing and should be given to the events involved.
4. Salesperson Sam Smith is related to the Doe Brokerage, which is owned by broker Jane
Doe. If Smith obtains a listing agreement, which records MUST seem in any commercial for that
listing?
A. Sam Smith, Real Estate Salesperson
b. Sam Smith and Jane Doe, Doe Brokerage.
C. Doe Brokerage
d. Equal Housing Opportunity. - ANS-c. Doe Brokerage
The brokerage call need to constantly appear on any actual estate related advertisements
,five. Disciplinary action can be introduced in opposition to a Nevada Broker for unknown
violations of Nevada licensees related to the Nevada Broker due to the fact the Nevada Broker:
a. Is presumed to recognize
b. Has hired them
c. Has didn't properly supervise them
d. Holds most effective a Nevada Broker-Salesperson license - ANS-c. Has failed to nicely
supervise them
It is a requirement that Nevada Brokers supervise their Nevada Licensees. Failure to
accomplish that can bring about fines to the Nevada Broker.
6. The maximum quantity that can be collected from NVERRF regarding someone Nevada
licensee's moves is:
a. $10,000
b. $100,000
c. $40,000
d. $20,000 - ANS-b. $one hundred,000
NRS 645.844 - Recent changes improved the amount payable to $25,000 in keeping with
incident, $one hundred,000 in line with Nevada Licensee.
7. Nevada Real Estate Commissioners are:
a. Elected each three years
b. Elected each 4 years
c. Appointed for 2 years
d. Appointed for 3 years - ANS-d. Appointed for three years
NRS 645.050 and NRS 645.060 - NVREC's are appointed for a term of 3 years.
Eight. The accounting of an improve rate should be made through the Nevada Broker to the
main:
a. On the authorized shape every three months irrespective of the quantity
b. Within 3 months, regardless of the quantity
c. Within three months if $30.00 or extra
d. Inside 30 days of any transaction of $30.00 or greater - ANS-b. Within 3 months, regardless
of the quantity
NRS 645.322 - There isn't any specific shape wanted, consequently, b. Is the right solution.
Advance charges must be accounted for to the foremost and the NVRED might also require
accounting also.
9. The Nevada Real Estate Commission is appointed via:
a. The Nevada Governor
, b. The Nevada Real Estate Administrator
c. The N.S.R. (Nevada State REALTORS®)
d. The Nevada Real Estate Director - ANS-a. The Nevada Governor
NRS 645.050 - NVREC's are appointed by using the Nevada Governor.
10. Which is NOT a required qualification of a Nevada Real Estate Commission member?
A. U.S. Citizenship
b. Nevada residency for 5 years
c. A Nevada Broker for the preceding 3 years or Nevada Broker-Salesperson for 5 years
d. Active Nevada Broker for two of the preceding 4 years - ANS-d. Active Nevada Broker for 2
of the preceding 4 years
NRS 645.090 - A NVREC have to be an active Nevada Broker for as a minimum three years
previous appointment or a Nevada Broker-Salesperson for five years previous appointment.
11. A valid act by way of the Nevada Real Estate Commission requires what number of Nevada
Commissioners' votes?
A. A majority of the NVREC's on the meeting
b. Three
c. Four
d. A majority vote licensed by means of the president - ANS-a. A majority of the NVREC's at
the meeting
NRS 645.One hundred sixty - there's no targeted range because of the possibility that a
commission assembly may take area with a majority of the commissioners being gift. For
example, three of the 5 commissioners are gift at a meeting, most effective 2 want agree on an
agenda object for attractiveness. Therefore, handiest the majority present on the meeting
constitute a vote to conduct an act.
12. Nevada Real Estate license expenses are deposited in:
a. The Nevada Real Estate Division Treasury
b. The Nevada State General Fund
c. The Nevada Real Estate License fund
d. The NVERRF - ANS-b. The Nevada State General Fund
NRS 645.A hundred and forty - NVERRF is a part of the Nevada State General Fund, however,
best the NVERRF fees are positioned there. The License charge, which is the query, is
deposited within the State General Fund.
Thirteen. Is it criminal for a metropolis to require a license of its very own earlier than any
compensated Nevada real estate interest is permitted in that town?
A. No, because the state has sole jurisdiction over all Nevada real property licensed
commercial enterprise
1. Which of the following are necessities with recognize to managing a Nevada main or branch
office by using a Nevada Broker-Salesperson?
A. Full-time licensee for two of the four years previous
b. Full-time active brokerage experience for two of the 4 years preceding
c. Full-time lively revel in for 2 of the 3 years preceding
d. Full-time status, meaning thirty hours in line with week for the past 18 months - ANS-a.
Full-time licensee for 2 of the 4 years previous
To be a Broker-salesperson, you must have of the preceding four years full-time enjoy in real
property and beyond brokers check and be broking or dealer - salesperson
2. To be an lively Broker in Nevada, you ought to:
a. Have your essential workplace in your own home
b. Have an office along with another enterprise
c. Have an workplace in an area zoned properly
d. Must have a place of work - ANS-c. Have an office in an area zoned properly
NAC 645.627 - Nevada Brokers are required to have a bodily workplace and it must be in an
area well zoned for such commercial office operation. Answer d. Could be correct, but c. Is the
better solution.
3. In an corporation disclosure requirement, a statement figuring out the fundamental and the
dealers fiduciary obligation to that main is required:
a. Only if the agent is representing more than one most important in the transaction
b. Only to the other licensee involved in the transaction
c. Most effective required when there's a Nevada Cooperating Broker
d. Must be in writing to all parties (lessor, lessee, buyer, supplier and/or different sellers) -
ANS-d. Should be in writing to all events (lessor, lessee, buyer, dealer and/or different retailers)
Agency disclosures ought to usually be in writing and should be given to the events involved.
4. Salesperson Sam Smith is related to the Doe Brokerage, which is owned by broker Jane
Doe. If Smith obtains a listing agreement, which records MUST seem in any commercial for that
listing?
A. Sam Smith, Real Estate Salesperson
b. Sam Smith and Jane Doe, Doe Brokerage.
C. Doe Brokerage
d. Equal Housing Opportunity. - ANS-c. Doe Brokerage
The brokerage call need to constantly appear on any actual estate related advertisements
,five. Disciplinary action can be introduced in opposition to a Nevada Broker for unknown
violations of Nevada licensees related to the Nevada Broker due to the fact the Nevada Broker:
a. Is presumed to recognize
b. Has hired them
c. Has didn't properly supervise them
d. Holds most effective a Nevada Broker-Salesperson license - ANS-c. Has failed to nicely
supervise them
It is a requirement that Nevada Brokers supervise their Nevada Licensees. Failure to
accomplish that can bring about fines to the Nevada Broker.
6. The maximum quantity that can be collected from NVERRF regarding someone Nevada
licensee's moves is:
a. $10,000
b. $100,000
c. $40,000
d. $20,000 - ANS-b. $one hundred,000
NRS 645.844 - Recent changes improved the amount payable to $25,000 in keeping with
incident, $one hundred,000 in line with Nevada Licensee.
7. Nevada Real Estate Commissioners are:
a. Elected each three years
b. Elected each 4 years
c. Appointed for 2 years
d. Appointed for 3 years - ANS-d. Appointed for three years
NRS 645.050 and NRS 645.060 - NVREC's are appointed for a term of 3 years.
Eight. The accounting of an improve rate should be made through the Nevada Broker to the
main:
a. On the authorized shape every three months irrespective of the quantity
b. Within 3 months, regardless of the quantity
c. Within three months if $30.00 or extra
d. Inside 30 days of any transaction of $30.00 or greater - ANS-b. Within 3 months, regardless
of the quantity
NRS 645.322 - There isn't any specific shape wanted, consequently, b. Is the right solution.
Advance charges must be accounted for to the foremost and the NVRED might also require
accounting also.
9. The Nevada Real Estate Commission is appointed via:
a. The Nevada Governor
, b. The Nevada Real Estate Administrator
c. The N.S.R. (Nevada State REALTORS®)
d. The Nevada Real Estate Director - ANS-a. The Nevada Governor
NRS 645.050 - NVREC's are appointed by using the Nevada Governor.
10. Which is NOT a required qualification of a Nevada Real Estate Commission member?
A. U.S. Citizenship
b. Nevada residency for 5 years
c. A Nevada Broker for the preceding 3 years or Nevada Broker-Salesperson for 5 years
d. Active Nevada Broker for two of the preceding 4 years - ANS-d. Active Nevada Broker for 2
of the preceding 4 years
NRS 645.090 - A NVREC have to be an active Nevada Broker for as a minimum three years
previous appointment or a Nevada Broker-Salesperson for five years previous appointment.
11. A valid act by way of the Nevada Real Estate Commission requires what number of Nevada
Commissioners' votes?
A. A majority of the NVREC's on the meeting
b. Three
c. Four
d. A majority vote licensed by means of the president - ANS-a. A majority of the NVREC's at
the meeting
NRS 645.One hundred sixty - there's no targeted range because of the possibility that a
commission assembly may take area with a majority of the commissioners being gift. For
example, three of the 5 commissioners are gift at a meeting, most effective 2 want agree on an
agenda object for attractiveness. Therefore, handiest the majority present on the meeting
constitute a vote to conduct an act.
12. Nevada Real Estate license expenses are deposited in:
a. The Nevada Real Estate Division Treasury
b. The Nevada State General Fund
c. The Nevada Real Estate License fund
d. The NVERRF - ANS-b. The Nevada State General Fund
NRS 645.A hundred and forty - NVERRF is a part of the Nevada State General Fund, however,
best the NVERRF fees are positioned there. The License charge, which is the query, is
deposited within the State General Fund.
Thirteen. Is it criminal for a metropolis to require a license of its very own earlier than any
compensated Nevada real estate interest is permitted in that town?
A. No, because the state has sole jurisdiction over all Nevada real property licensed
commercial enterprise
