Nevada Real Estate Exam Questions And

Nevada Real Estate Exam Questions and Answers (Graded A)

Question : What is the minimum balance of the real estate

education, research, and recovery fund?

A) $300,000.

B) $100,000.

C) $250,000.

D) $500,000.

Correct answer: a

Question : How long after the signing of a contract for the

purchase of a lot in NV or anywhere else may the purchaser cancel the transaction?

• 24 hours
• within five calendar days
• five business days
• or one week

Correct answer: b

Question : In NV, who is responsible prior to closing for

calculating the pro-rations between the buyer and seller, ordering the preliminary title report, and preparing the purchase money mortgage note and trust deed?

• broker
• salesperson
• escrow agent
• lender

Correct answer: c

Question : How long are real estate licenses valid?

• granted in perpetuity
• need not be renewed unless previously revoked
• expire annually on December 31
• beginning July 1, 2015, a first-time license will be valid

for one year. Subsequent renewals will be valid for two years.

Correct answer: d

Question : A NV salesperson's license was issued November

3, 2015. When will his or her license expire?

• January 31 of every even-numbered year
• November 30, 2016 first time licensee only
• October 31 of each odd-numbered year
• every other anniversary date of the individual salesperson's

license

Correct answer: b

Question : A broker who holds a NV license, but whose home

state is Iowa, must meet all of the following requirements except that he or she.

• maintain an office in NV
• maintain all documents related to NV transactions in NV
• employ at least one NV licensee, either as a salesperson or

associate broker

• file a consent to service of process with the administrator

Correct answer: c

Question : In the state of Nevada the following are grounds

for revoking a broker's license except.

• being convicted of fraud in district court

• advertising in a newspaper that he or she is a member of

the local association of realtors when in fact they are not

• depositing escrow money into his or her personal checking

account

• agreeing with a seller to accept a listing for more than the

normal commission rate

Correct answer: d

Question : In NV, brokers and salespeople who are not

lawyers may

• sign a bill of sale on behalf of the seller after a sales

contract has been signed

• fill in blanks on pre-printed form contracts customarily

used in their community

• suggest additional language to be added to a pre-printed

sales contract by a buyer or seller

• explain the legal significance of specific pre-printed

contract clauses to a buyer or selleR

Correct answer: b