Social Science Law
Timeshare License ACTUAL EXAM 2025
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES
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How long is a TSA license valid for? 2 years
If a timeshare AGENT initially becomes June 30, 2002 (end of the month - 2 years later)
licensed on June 6, 2000, when will the
license expire?
If a timeshare REPRESENTATIVE initially June 30, 2010 (end of the month - 1 year later)
becomes licensed on June 6, 2009, when
will the license expire?
An applicant for an original timeshare An application, certificates for passing the examination and completing the 14 hour
license MUST provide: course, and $175
If a timeshare agent is served notice that 20 days
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?
A developer may NOT make a material 10 days
change in the timeshare plan without giving
the Division at LEAST how many days
notice?
If the highest monthly total of deposits $50,000
received by a project is $50,000 what is the
amount of surety bond REQUIRED for the
benefit of the purchasers?
What is a timeshare? A guaranteed reservation at the resort of your choice
What is a fractional ownership? Ownership of an interval of 1 month to 1/2 year
The value of an individual timeshare usually decreases in value
, An agreement between two or more a contract
parties is called
The following elements are necessary to consideration
create an agency relationship EXCEPT:
The following elements are necessary to perception of representation, understanding, and reliance
create an agency relationship:
Which of the following is NOT necessary to performance
form a contract?
Which of the following is necessary to form meeting of the minds, consideration, and competence
a contract?
The essential parts of a written contract competent parties, mutual consent, consideration, and legal obligation
include
The purchaser of a timeshare may cancel, by written notice, the contract of sale until
Which statements MUST be printed above midnight of the fifth calendar day.
the purchaser's signature one in each
contract for sale of a timeshare? 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 non-disturbance clause
project. Which clause provides protection
for prior purchasers?
How would a prospective purchaser get buy it from an existing owner
the BEST deal on a timeshare?
The purchaser may cancel the transaction until midnight of the 5th calendar day after signing
1. buyer's check clears his bank
Escrow may NOT be closed until the 2. project is free and clear of any blanket encumbrances
3. cancellation period has expired
Developer Douglas has submitted an 30 days
application to the administrator for a permit
to sell timeshares. The Division shall issue
an order within how many days after the
receipt of the application?
1. Matters discussed or materials presented may be used in any subsequent formal
The administrator has scheduled an hearings
informal meeting to discuss certain sales 2. May be tap recorded
practices at Douglas' promotional 3. Is lawful under NRS 119A
meetings. Which of the following is NOT 4. Mandates a judge or constable be present for the record
true?
CORRECT: Mandates a judge or constable be present for the record
The sale of a timeshare interests in the Nevada revised statutes 119A
State of Nevada is regulated under the
provisions of
MOST timeshare units are sold on credit. Full disclosure of all financing costs and charges
These lending arrangements MUST comply
with Regulation Z of the Federal Reserve
Board. The PRIMARY purpose of
Regulation Z, as applied to timeshare sales,
is to assure:
Full disclosure AKA truth and lending
Timeshare License ACTUAL EXAM 2025
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES
Save
Students also studied
Arkansas LRR Alabama License Law Exam Questio... Champions Real Estate Exam: Law o... PA Stat
Teacher 43 terms Teacher 78 terms 286 terms Teacher
collyraz Preview Brian_kiarie7 Preview ken_MEL22 Preview seb
How long is a TSA license valid for? 2 years
If a timeshare AGENT initially becomes June 30, 2002 (end of the month - 2 years later)
licensed on June 6, 2000, when will the
license expire?
If a timeshare REPRESENTATIVE initially June 30, 2010 (end of the month - 1 year later)
becomes licensed on June 6, 2009, when
will the license expire?
An applicant for an original timeshare An application, certificates for passing the examination and completing the 14 hour
license MUST provide: course, and $175
If a timeshare agent is served notice that 20 days
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?
A developer may NOT make a material 10 days
change in the timeshare plan without giving
the Division at LEAST how many days
notice?
If the highest monthly total of deposits $50,000
received by a project is $50,000 what is the
amount of surety bond REQUIRED for the
benefit of the purchasers?
What is a timeshare? A guaranteed reservation at the resort of your choice
What is a fractional ownership? Ownership of an interval of 1 month to 1/2 year
The value of an individual timeshare usually decreases in value
, An agreement between two or more a contract
parties is called
The following elements are necessary to consideration
create an agency relationship EXCEPT:
The following elements are necessary to perception of representation, understanding, and reliance
create an agency relationship:
Which of the following is NOT necessary to performance
form a contract?
Which of the following is necessary to form meeting of the minds, consideration, and competence
a contract?
The essential parts of a written contract competent parties, mutual consent, consideration, and legal obligation
include
The purchaser of a timeshare may cancel, by written notice, the contract of sale until
Which statements MUST be printed above midnight of the fifth calendar day.
the purchaser's signature one in each
contract for sale of a timeshare? 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 non-disturbance clause
project. Which clause provides protection
for prior purchasers?
How would a prospective purchaser get buy it from an existing owner
the BEST deal on a timeshare?
The purchaser may cancel the transaction until midnight of the 5th calendar day after signing
1. buyer's check clears his bank
Escrow may NOT be closed until the 2. project is free and clear of any blanket encumbrances
3. cancellation period has expired
Developer Douglas has submitted an 30 days
application to the administrator for a permit
to sell timeshares. The Division shall issue
an order within how many days after the
receipt of the application?
1. Matters discussed or materials presented may be used in any subsequent formal
The administrator has scheduled an hearings
informal meeting to discuss certain sales 2. May be tap recorded
practices at Douglas' promotional 3. Is lawful under NRS 119A
meetings. Which of the following is NOT 4. Mandates a judge or constable be present for the record
true?
CORRECT: Mandates a judge or constable be present for the record
The sale of a timeshare interests in the Nevada revised statutes 119A
State of Nevada is regulated under the
provisions of
MOST timeshare units are sold on credit. Full disclosure of all financing costs and charges
These lending arrangements MUST comply
with Regulation Z of the Federal Reserve
Board. The PRIMARY purpose of
Regulation Z, as applied to timeshare sales,
is to assure:
Full disclosure AKA truth and lending
