Nevada Real Estate Salesperson State Questions with 100% Correct Answers

Nevada Real Estate Salesperson State Questions with 100% Correct Answers A Seller's Real Property Disclosure document is required for all the following properties, EXCEPT a(n): a) For Sale by Owner b) New Home c) Resale d) Home that has been inspected by a certified home inspector - Answer- b (New Home) A Nevada licensee must give the Duties Owed by a Nevada licensee form to prospective purchasers/tenants: a) before they are shown any properties b) at an open house c) at the close of escrow d) no later than the time of entering an agreement to purchase or lease - Answer- d (no later than the time of entering an agreement to purchase or lease) The licensing law of Nevada requires that the: a) broker keep all the information confidential that the seller has provided about the property b) broker disclose everything that the seller tells him or her c) broker disclose information that materially affects the property even when the buyer does not ask for it. d) seller disclose all facts that might affect the sale - Answer- c (broker disclose information that materially affects the property even when the buyer does not ask for it.) If a Nevada licensee tells the lender that the sales price on a property is something than it's actual sales price, the: a) licensee has done nothing wrong as long as the appraisal substantiates the price b) buyer is likely to receive an interest rate discount c) licensee can have his/her license suspended or revoked d) buyer can receive a lower mortgage amount - Answer- c (licensee can have his/her license suspended or revoked) Under the terms of the contract, a seller is required to provide a termite certification. The seller requests his listing agent to order one. Then agent does so, knowing he will receive a referral fee from the pest control company. Is this a violation of the Nevada license law? a) No, if the referral fee is than then $25 b) No, because the undisclosed referral fees are not a violation of the Nevada license law c) Yes, because a salesperson may not receive compensation from anyone other than his employing broker d) Yes, because only the seller may compensate a salesperson - Answer- c (Yes, because a salesperson may not receive compensation from anyone other than his employing broker) All of the following are grounds for disciplinary action EXCEPT a licensee: a) trying to negotiate a sale of property directly with an owner while that owner is currently exclusively listed with another broker. b) giving information on a rental to a tenant without the landlords permission c) refusing to write a low offer that the licensee knows will not be accepted d) refusing to show property to a prospective purchaser due to poor credit - Answer-