Timeshare License ACTUAL EXAM 2025
COMPLETE 171 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES
How long is a TSA license valid for? - ANSWER✔✔-2 years
If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license
expire? - ANSWER✔✔-June 30, 2002 (end of the month - 2 years later)
If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 2009, when will
the license expire? - ANSWER✔✔-June 30, 2010 (end of the month - 1 year later)
An applicant for an original timeshare license MUST provide: - ANSWER✔✔-An
application, certificates for passing the examination and completing the 14 hour course,
and $175
If a timeshare agent is served notice that the division has filed charges against him/her,
he/she has how many days in which to file with the Division and answer to the
charges? - ANSWER✔✔-20 days
A developer may NOT make a material change in the timeshare plan without giving the
Division at LEAST how many days notice? - ANSWER✔✔-10 days
,If the highest monthly total of deposits received by a project is $50,000 what is the
amount of surety bond REQUIRED for the benefit of the purchasers? - ANSWER✔✔-
$50,000
What is a timeshare? - ANSWER✔✔-A guaranteed reservation at the resort of your
choice
What is a fractional ownership? - ANSWER✔✔-Ownership of an interval of 1 month to
1/2 year
The value of an individual timeshare usually - ANSWER✔✔-decreases in value
An agreement between two or more parties is called - ANSWER✔✔-a contract
The following elements are necessary to create an agency relationship EXCEPT: -
ANSWER✔✔-consideration
The following elements are necessary to create an agency relationship: - ANSWER✔✔-
perception of representation, understanding, and reliance
Which of the following is NOT necessary to form a contract? - ANSWER✔✔-
performance
Which of the following is necessary to form a contract? - ANSWER✔✔-meeting of the
minds, consideration, and competence
, The essential parts of a written contract include - ANSWER✔✔-competent parties,
mutual consent, consideration, and legal obligation
Which statements MUST be printed above the purchaser's signature one in each
contract for sale of a timeshare? - ANSWER✔✔-The purchaser of a timeshare may
cancel, by written notice, the contract of sale until midnight of the fifth calendar day.
The right of cancellation may not be waived. Any attempt by the developer to obtain a
waiver results in a contract that is voidable by the purchaser.
Developer Tyson has defaulted on his project. Which clause provides protection for
prior purchasers? - ANSWER✔✔-non-disturbance clause
How would a prospective purchaser get the BEST deal on a timeshare? - ANSWER✔✔-
buy it from an existing owner
The purchaser may cancel the transaction - ANSWER✔✔-until midnight of the 5th
calendar day after signing
Escrow may NOT be closed until the - ANSWER✔✔-1. buyer's check clears his bank
2. project is free and clear of any blanket encumbrances
3. cancellation period has expired
COMPLETE 171 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES
How long is a TSA license valid for? - ANSWER✔✔-2 years
If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license
expire? - ANSWER✔✔-June 30, 2002 (end of the month - 2 years later)
If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 2009, when will
the license expire? - ANSWER✔✔-June 30, 2010 (end of the month - 1 year later)
An applicant for an original timeshare license MUST provide: - ANSWER✔✔-An
application, certificates for passing the examination and completing the 14 hour course,
and $175
If a timeshare agent is served notice that the division has filed charges against him/her,
he/she has how many days in which to file with the Division and answer to the
charges? - ANSWER✔✔-20 days
A developer may NOT make a material change in the timeshare plan without giving the
Division at LEAST how many days notice? - ANSWER✔✔-10 days
,If the highest monthly total of deposits received by a project is $50,000 what is the
amount of surety bond REQUIRED for the benefit of the purchasers? - ANSWER✔✔-
$50,000
What is a timeshare? - ANSWER✔✔-A guaranteed reservation at the resort of your
choice
What is a fractional ownership? - ANSWER✔✔-Ownership of an interval of 1 month to
1/2 year
The value of an individual timeshare usually - ANSWER✔✔-decreases in value
An agreement between two or more parties is called - ANSWER✔✔-a contract
The following elements are necessary to create an agency relationship EXCEPT: -
ANSWER✔✔-consideration
The following elements are necessary to create an agency relationship: - ANSWER✔✔-
perception of representation, understanding, and reliance
Which of the following is NOT necessary to form a contract? - ANSWER✔✔-
performance
Which of the following is necessary to form a contract? - ANSWER✔✔-meeting of the
minds, consideration, and competence
, The essential parts of a written contract include - ANSWER✔✔-competent parties,
mutual consent, consideration, and legal obligation
Which statements MUST be printed above the purchaser's signature one in each
contract for sale of a timeshare? - ANSWER✔✔-The purchaser of a timeshare may
cancel, by written notice, the contract of sale until midnight of the fifth calendar day.
The right of cancellation may not be waived. Any attempt by the developer to obtain a
waiver results in a contract that is voidable by the purchaser.
Developer Tyson has defaulted on his project. Which clause provides protection for
prior purchasers? - ANSWER✔✔-non-disturbance clause
How would a prospective purchaser get the BEST deal on a timeshare? - ANSWER✔✔-
buy it from an existing owner
The purchaser may cancel the transaction - ANSWER✔✔-until midnight of the 5th
calendar day after signing
Escrow may NOT be closed until the - ANSWER✔✔-1. buyer's check clears his bank
2. project is free and clear of any blanket encumbrances
3. cancellation period has expired
