Nevada Real Estate EXAM STUDY GUIDE
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
1. Personal Property - ANSWER ✔ Anything that is NOT realty
2. Realty - ANSWER ✔ Land, real estate, and real property
3. Land - ANSWER ✔ From the core of the earth upward in the shape of a
cone including subsurface, surface, and airspace into infinity
4. Real Estate - ANSWER ✔ Land including improvements or fixtures,
tangible or corporeal appurtenances, fructus industriales, and emblements
5. Real Property - ANSWER ✔ Land and real estate including intangible or
incorporeal appurtenances known as the bundle of rights (possession,
control, enjoyment, exclude, and disposal)
6. Purpose of Deeds - ANSWER ✔ - Transfer must be in writing to be valid
- Recorded to give constructive notice to the world, but not required
- Transfer of deeds takes place only if the grantee accepts the deed
,7. General Warranty Deed - ANSWER ✔ - Used in most states outside the far
west
- Considered the best deed
- Warrants seisen (grantor is the owner)
- Warrants against encumberances unless stated
- Warrants enjoyment now and forever
8. Objective Value - ANSWER ✔ Appraiser objectively looks at a parcel of
realty to give its value
9. Subjective Value - ANSWER ✔ Buyer usually pays more for the realty than
it's worth because of feelings
10.Three Types of Realtys Worth - ANSWER ✔ - Cost
- Price
- Value
11.Cost - ANSWER ✔ Monetary amount to build something
12.Price - ANSWER ✔ Monetary amount paid
13.Value - ANSWER ✔ Monetary amount an appraiser says it's worth
14.Appraisal Steps - ANSWER ✔ - Define problem
- List all data needed for appraisal
- Collect specific data in area and general data overall
- Classify data
- Reconciliation
◼ Weighing the three approaches to value (a correlation)
◼ Three approaches are market, cost and income
- Finalize data
, - Lenders normally require an appraisal
15.Highest and Best Use - ANSWER ✔ Most profitable use - first principal of
value an appraiser must use on all appraisals
16.Supply & Demand - ANSWER ✔ - Value will increase if demand is high
and supply is low
- If 10 homes are identical, they will be the least expensive when all of
the homes are available and the most expensive when there is only
one home left
17.Conformity - ANSWER ✔ Get maximum value if land conforms.
Subdivisions have CC&R's to ensure future value
18.Which form must be used in every real estate transaction involving a Nevada
licensee? - ANSWER ✔ Duties Owed by a Nevada Real Estate Licensee
19.Which of these would NOT likely disqualify Smith from receiving a license?
- ANSWER ✔ having been arrested for embezzlement
20.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
21.If the real estate Division believes a licensee could potentially harm the
general public, and prior to a formal hearing be held, the Division could
prevent the licensee from further real estate practice by issuing a(n): -
ANSWER ✔ injunction.
, 22.Can a licensee who specializes in new home sales take a vacant land listing
on 40 commercial acres? - ANSWER ✔ Yes, a license allows the agent to
do any kind of real estate activity authorized by NRS 645.
23.While not advisable, which contract may be oral? - ANSWER ✔ a
brokerage agreement
24.Watkins' listing is being shown by Zender to a very interested buyer. The
asking price is $358,000. 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.
25.Your father is selling his house and you are the listing agent. What must you
disclose? - ANSWER ✔ you are related to the seller
26.A broker sells a 3,200 square foot home. In checking the assessor's records,
the broker finds it is a 2,900 square foot home. The broker did not ask the
seller about the addition or if there were permits and inspections. After
closing, the buyer discovers a severe problem with the addition. Which is
true? - ANSWER ✔ The broker is responsible because he failed to gain
information which he should have known.
27.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.
28.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
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
1. Personal Property - ANSWER ✔ Anything that is NOT realty
2. Realty - ANSWER ✔ Land, real estate, and real property
3. Land - ANSWER ✔ From the core of the earth upward in the shape of a
cone including subsurface, surface, and airspace into infinity
4. Real Estate - ANSWER ✔ Land including improvements or fixtures,
tangible or corporeal appurtenances, fructus industriales, and emblements
5. Real Property - ANSWER ✔ Land and real estate including intangible or
incorporeal appurtenances known as the bundle of rights (possession,
control, enjoyment, exclude, and disposal)
6. Purpose of Deeds - ANSWER ✔ - Transfer must be in writing to be valid
- Recorded to give constructive notice to the world, but not required
- Transfer of deeds takes place only if the grantee accepts the deed
,7. General Warranty Deed - ANSWER ✔ - Used in most states outside the far
west
- Considered the best deed
- Warrants seisen (grantor is the owner)
- Warrants against encumberances unless stated
- Warrants enjoyment now and forever
8. Objective Value - ANSWER ✔ Appraiser objectively looks at a parcel of
realty to give its value
9. Subjective Value - ANSWER ✔ Buyer usually pays more for the realty than
it's worth because of feelings
10.Three Types of Realtys Worth - ANSWER ✔ - Cost
- Price
- Value
11.Cost - ANSWER ✔ Monetary amount to build something
12.Price - ANSWER ✔ Monetary amount paid
13.Value - ANSWER ✔ Monetary amount an appraiser says it's worth
14.Appraisal Steps - ANSWER ✔ - Define problem
- List all data needed for appraisal
- Collect specific data in area and general data overall
- Classify data
- Reconciliation
◼ Weighing the three approaches to value (a correlation)
◼ Three approaches are market, cost and income
- Finalize data
, - Lenders normally require an appraisal
15.Highest and Best Use - ANSWER ✔ Most profitable use - first principal of
value an appraiser must use on all appraisals
16.Supply & Demand - ANSWER ✔ - Value will increase if demand is high
and supply is low
- If 10 homes are identical, they will be the least expensive when all of
the homes are available and the most expensive when there is only
one home left
17.Conformity - ANSWER ✔ Get maximum value if land conforms.
Subdivisions have CC&R's to ensure future value
18.Which form must be used in every real estate transaction involving a Nevada
licensee? - ANSWER ✔ Duties Owed by a Nevada Real Estate Licensee
19.Which of these would NOT likely disqualify Smith from receiving a license?
- ANSWER ✔ having been arrested for embezzlement
20.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
21.If the real estate Division believes a licensee could potentially harm the
general public, and prior to a formal hearing be held, the Division could
prevent the licensee from further real estate practice by issuing a(n): -
ANSWER ✔ injunction.
, 22.Can a licensee who specializes in new home sales take a vacant land listing
on 40 commercial acres? - ANSWER ✔ Yes, a license allows the agent to
do any kind of real estate activity authorized by NRS 645.
23.While not advisable, which contract may be oral? - ANSWER ✔ a
brokerage agreement
24.Watkins' listing is being shown by Zender to a very interested buyer. The
asking price is $358,000. 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.
25.Your father is selling his house and you are the listing agent. What must you
disclose? - ANSWER ✔ you are related to the seller
26.A broker sells a 3,200 square foot home. In checking the assessor's records,
the broker finds it is a 2,900 square foot home. The broker did not ask the
seller about the addition or if there were permits and inspections. After
closing, the buyer discovers a severe problem with the addition. Which is
true? - ANSWER ✔ The broker is responsible because he failed to gain
information which he should have known.
27.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.
28.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
