State Law Test questions and answers
graded A+
The Salesperson can prepare a BPO and collect a fee provided the BPOs meet the requirements
- correct answer ✔✔An auction house needs Broker Price Opinions on 3 properties it will be
auctioning. They contact a Salesperson
to prepare the BPOs for a fee. Per Nevada Law
Complete 30 hours of post licensing education - correct answer ✔✔For the past year, a licensee
has been working part-time in Real Estate while continuing to work part-time in their family
business. Their license is getting ready to expire, in order to renew it, they must
Memberships for pre-sales that are not yet available for use - correct answer ✔✔NRS 119B
governs the sale of campground memberships. While advertising, it would not be false or
misleading
to advertise:
At the time of showing; before receiving an offer - correct answer ✔✔A rancher is selling part of
his farmland. At what point in the transaction is the rancher supposed to present the
Open Range Disclosure to the buyers?
Until the 30th of April at midnight - correct answer ✔✔A licensee was issued a license on the
18th of April. Their license is due to expire this year. The licensee will
have until what time to renew their license?
The Broker only - correct answer ✔✔The Salesperson has just closed a transaction. Their
transaction coordinator has uploaded and added to the file
, all the updated documents from the closing package. The commission has been sent to the
broker. The
Salesperson can receive their compensation from:
Impose a fine of $5,000 per violation - correct answer ✔✔An average citizen was discovered to
be practicing Real Estate without a license in the state of Nevada. The
Nevada Real Estate Commission may:
Presenting all offers - correct answer ✔✔Per Nevada Law, a seller may waive which one of these
duties owed by a Nevada licensee?
Reviewing and approving of licensee's advertisements - correct answer ✔✔The Broker is
expected to monitor the activities of their agents. One of the tasks that come under the purview
of
their brokerage responsibilities is:
The Client - correct answer ✔✔Per Nevada Law, a brokerage agreement is between the broker
and:
A Brokerage Agreement - correct answer ✔✔A broker and a client sign an employment
agreement. Another name for his document is:
The last name of one of the team members - correct answer ✔✔In the state of Nevada, a team
must consist of more than two licensees and the name of the team must contain:
Obtaining a Property Management Permit - correct answer ✔✔The Nevada Real Estate Division
has received a complaint about a licensed Broker Salesperson who is renting
properties for friends and family. The licensee is charging a percentage of the monthly rental
income as
graded A+
The Salesperson can prepare a BPO and collect a fee provided the BPOs meet the requirements
- correct answer ✔✔An auction house needs Broker Price Opinions on 3 properties it will be
auctioning. They contact a Salesperson
to prepare the BPOs for a fee. Per Nevada Law
Complete 30 hours of post licensing education - correct answer ✔✔For the past year, a licensee
has been working part-time in Real Estate while continuing to work part-time in their family
business. Their license is getting ready to expire, in order to renew it, they must
Memberships for pre-sales that are not yet available for use - correct answer ✔✔NRS 119B
governs the sale of campground memberships. While advertising, it would not be false or
misleading
to advertise:
At the time of showing; before receiving an offer - correct answer ✔✔A rancher is selling part of
his farmland. At what point in the transaction is the rancher supposed to present the
Open Range Disclosure to the buyers?
Until the 30th of April at midnight - correct answer ✔✔A licensee was issued a license on the
18th of April. Their license is due to expire this year. The licensee will
have until what time to renew their license?
The Broker only - correct answer ✔✔The Salesperson has just closed a transaction. Their
transaction coordinator has uploaded and added to the file
, all the updated documents from the closing package. The commission has been sent to the
broker. The
Salesperson can receive their compensation from:
Impose a fine of $5,000 per violation - correct answer ✔✔An average citizen was discovered to
be practicing Real Estate without a license in the state of Nevada. The
Nevada Real Estate Commission may:
Presenting all offers - correct answer ✔✔Per Nevada Law, a seller may waive which one of these
duties owed by a Nevada licensee?
Reviewing and approving of licensee's advertisements - correct answer ✔✔The Broker is
expected to monitor the activities of their agents. One of the tasks that come under the purview
of
their brokerage responsibilities is:
The Client - correct answer ✔✔Per Nevada Law, a brokerage agreement is between the broker
and:
A Brokerage Agreement - correct answer ✔✔A broker and a client sign an employment
agreement. Another name for his document is:
The last name of one of the team members - correct answer ✔✔In the state of Nevada, a team
must consist of more than two licensees and the name of the team must contain:
Obtaining a Property Management Permit - correct answer ✔✔The Nevada Real Estate Division
has received a complaint about a licensed Broker Salesperson who is renting
properties for friends and family. The licensee is charging a percentage of the monthly rental
income as
