Nevada Real Estate: Practice State Exam Corrections Questions and Answers 100% Pass

Nevada Real Estate: Practice State Exam Corrections Questions and Answers 100% Pass 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 is allowed for re-affiliation before he is inactivated - Answer- 30 days Watkins' listing is being shown by Zender to a very interested buyer. The asking price is $385000. Watkins suggests Zender and her buyer make an offer of $340,000 to "get some action on the listing" Has he violated NRS 645? - Answer- Yes, because he offered property at a price not authorized by the owner If a claim is paid from the ERRF to satisfy a judgment against Hamilton - Answer- Before reinstatement, he must repay ERRF payments plus interest at 2% over prime rate A waiver of the educational requirements for brokers and broker-salespeople is made for active experience according to which pattern? - Answer- 16 credits for each 2 years of active experience A buyer has purchased land regulated under NRS 119 and cancels within 5 days allowed by law. How much time does the broker have to refund the buyers money? - Answer- 15 days Reasons why Chandler is being disciplined - Answer- Calling himself a "REALTOR®" without belonging to the Association of REALTORS®, Guaranteeing future profits to a buyer when he resells, a fraudulent action in Real Estate Sales prior to his licensing in Nevada Who is responsible for the investigation of transaction files and trust records of brokers and owner developers? - Answer- Administrator and Division Jefferson is planning different price policies and discounts on his timeshare development. - Answer- Discounts are allowed for quantity purchases and for cash payment. An advance fee rental agency - Answer- must have a refund policy What is true of timeshare promotional meetings - Answer- Division employees may attend them Common Interest Community association liens may be foreclosed for - Answer- unpaid regular dues, unpaid special assessments for replacements, fines for health hazards What is the active experience requirement for Collins to become a broker or a branch manager as managing broker-salesperson? - Answer- 2 years out of the last 4 years Broker Grossman must have a sign - Answer- Visible from the nearest public sidewalk, street, or highway; or on the building directory; or the entrance of the business Which warning message is superimposed on the cover of Peterson's Public Offering Statement? - Answer- PROSPECTIVE PURCHASER SHOULD READ THIS REPORT BEFORE SIGNING ANY PAPER Broker Holcomb has taken a $3000 consulting fee from a developer regarding a new subdivision marketing plan. When must an accounting for this advance fee be given to the developer? - Answer- Within 3 months of the payment O'Connell, as an active broker in Elko, Nevada - Answer- Must have an office Nevada A corporation is doing business as a real estate broker and has designated Thompson, a corporate officer, to be the broker. Thompson - Answer- may act on her own behalf, if separately licensed, and with the approval of the corporation How many hours of CE are NOW required to renew a real estate license fo