Nevada Exam Questions with 100% Correct Answers

Nevada Exam Questions with 100% Correct Answers an unrepresented buyer submits an offer directly to the listing agent the agent must - Answer- Provide the buyer a Duties Owed by a Nevada licensee Only the seller can fill out - Answer- The SRPD The maximum liability of ERRF for an individual person is - Answer- 100,000 What is the maximum amount per judgement that can be paid out of the Errf - Answer- 25,000 State law allows representation of multiple parties to a transaction, however what authorization is required before moving forward - Answer- Consent to act Disclosure of a licensee's duties to their clients and to all parties of the transaction is acknowledged by what state mandated disclosure - Answer- Duties owed Per Nevada Law a seller may waive which one of these duties owed by a NV licensee - Answer- Presenting all offers A brokerage agreement is between - Answer- the broker and the client Per NRS 645 the duties owed by a Nevada licensee must be - Answer- initialed, dates, timed, and signed A licensee is representing a seller and the buyer is unrepresented. The file of the transaction must include - Answer- a duties owed signed by the buyer identifying the sellers as the broker's clients. while representing a client in a transaction which is an example of a duty owed - Answer- to inform the client if they are principal to the transaction NRS 119B governs the sale of campground memberships. while advertising it would not be false or misleading to advertise - Answer- memberships for pre sales that are not yet available for use. Being an independent contractor is distinguished by all - Answer- paid vacations Nrs 645 was adopted to protect - Answer- the public practicing real estate in the state of Nevada without a license - Answer- is a violation of law and yields a 5000 fine as a Nevada licensee a salesperson may only engage in sales as a - Answer- independent contractor agency is defined as the relationship between - Answer- a client and a broker arising from written agreement The Nevada Real Estate commission can fine licensees up to - Answer- 10,000 A licensee was issued on the 18th of april. their license is due to expire this year, the licensee will have until when to renew license - Answer- 30th of april at midnight In the state of NV in real estate there are two types of agency that are recognized by law they are - Answer- specific and general A licensee dies before renewing their license the real estate license automatica