Timeshare Test #2 | 50 Questions with 100% Correct
Answers | Updated & Verified
The Nevada Revised Statute that deals with the timeshare industry in Nevada is titled:
A. 1551
B. 119A
C. 119B
D. 645 - AnswerB. 119A
/.Timeshare right to use is considered:
A. A contractual agreement
B. Deed and title
C. An open arrangement
D. None of the above - AnswerA. A contractual agreement
/.Timeshare is:
A. A great investment
B. A way to freeze vacation costs
C. Easily financed
D. A good tax deduction - AnswerB. A way to freeze vacation costs
/.Fractional ownership of a timeshare is:
A. From one day to 29 days
B. A series of 21 day stays
C. Weekends only
D. One month to half of a year - AnswerD. One month to half of a year
/.An arrangement to do, not to do certain things is called:
A. Declaration
B. Contract
C. Affidavit
D. Testament - AnswerB. Contract
/.All are necessary to the creation of an agency relationship except:
A. Consideration
B. Agreement of both parties
C. Principal with capacity
D. Mutuality - AnswerB. Agreement of both parties
, /.Which of the following is not a necessary element in the information of a contract?
A. Consideration.
B. Acceptance
C. Performance
D. Offer - AnswerC. Performance
/.Financing for an individual timeshare is done by the:
A. Developer
B. Local banks
C. Visa/MasterCard
D. The Financial Timeshare Corporation - AnswerA. Developer
/.The value of an individual timeshare unit usually:
A. Goes up in value
B. Goes down in value
C. Stays about the same
D. Varies from state to state - AnswerB. Goes down in value
/.Consideration in connection with a contract may be which of the following:
A. Doing what a person is not legally required to do
B. A promise not to do what a person is legally entitled to do
C. A payment of money
D. All of the above - AnswerC. A payment of money
/.A void contract is one that is:
A. Not in writing
B. Amortized
C. Rescindable by agreement
D. Not enforceable by the law - AnswerD. Not enforceable by the law
/.A voidable contract is
A. Unenforceable
B. Not valid
C. Valid until action is taken to make it void
D. None of the above - AnswerC. Valid until action is taken to make it void
/.The majority of timeshare owners are:
A. Fee deed and title
Answers | Updated & Verified
The Nevada Revised Statute that deals with the timeshare industry in Nevada is titled:
A. 1551
B. 119A
C. 119B
D. 645 - AnswerB. 119A
/.Timeshare right to use is considered:
A. A contractual agreement
B. Deed and title
C. An open arrangement
D. None of the above - AnswerA. A contractual agreement
/.Timeshare is:
A. A great investment
B. A way to freeze vacation costs
C. Easily financed
D. A good tax deduction - AnswerB. A way to freeze vacation costs
/.Fractional ownership of a timeshare is:
A. From one day to 29 days
B. A series of 21 day stays
C. Weekends only
D. One month to half of a year - AnswerD. One month to half of a year
/.An arrangement to do, not to do certain things is called:
A. Declaration
B. Contract
C. Affidavit
D. Testament - AnswerB. Contract
/.All are necessary to the creation of an agency relationship except:
A. Consideration
B. Agreement of both parties
C. Principal with capacity
D. Mutuality - AnswerB. Agreement of both parties
, /.Which of the following is not a necessary element in the information of a contract?
A. Consideration.
B. Acceptance
C. Performance
D. Offer - AnswerC. Performance
/.Financing for an individual timeshare is done by the:
A. Developer
B. Local banks
C. Visa/MasterCard
D. The Financial Timeshare Corporation - AnswerA. Developer
/.The value of an individual timeshare unit usually:
A. Goes up in value
B. Goes down in value
C. Stays about the same
D. Varies from state to state - AnswerB. Goes down in value
/.Consideration in connection with a contract may be which of the following:
A. Doing what a person is not legally required to do
B. A promise not to do what a person is legally entitled to do
C. A payment of money
D. All of the above - AnswerC. A payment of money
/.A void contract is one that is:
A. Not in writing
B. Amortized
C. Rescindable by agreement
D. Not enforceable by the law - AnswerD. Not enforceable by the law
/.A voidable contract is
A. Unenforceable
B. Not valid
C. Valid until action is taken to make it void
D. None of the above - AnswerC. Valid until action is taken to make it void
/.The majority of timeshare owners are:
A. Fee deed and title
