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Q 1/15
Score 0
Under Nevada law, any person who acts as an executor of an estate:
30
Must have his court appointment endorsed by the Nevada Real Estate Commission
Need not be licensed as a real estate broker
Must register and be approved by the Nevada Real Estate Division
Must have a special endorsement by HUD
Q 2/15
Score 0
Duncan, a licensed broker, procures a ready, willing and able buyer for his seller-principal. The seller accepts the buyer's offer in writing then experiences a change of heart and withdraws the acceptance. In such a situation, Duncan:
30
May retain the deposit as commission.
Cannot collect a commission because the transaction was never completed.
May sue the buyer.
Is entitled to collect a commission.
15 questions
Q.
Under Nevada law, any person who acts as an executor of an estate:
1
30 sec
Q.
Duncan, a licensed broker, procures a ready, willing and able buyer for his seller-principal. The seller accepts the buyer's offer in writing then experiences a change of heart and withdraws the acceptance. In such a situation, Duncan:
2
30 sec
Q.
Listings based on a "net price" are:
3
30 sec
Q.
Within how many days must all funds received by a broker on behalf of his principal be deposited into an escrow or trust account?
4
30 sec
Q.
A buyer enters into a verbal contract to purchase a house and immediately gives the broker an earnest money check for $500. Prior to performance under this contract, the verbal contract is considered legally:
5
30 sec
Q.
If a person obtains a contract through duress, that contract is:
6
30 sec
Q.
When a counter offer is made:
7
30 sec
Q.
If a person obtains a Nevada cooperative certificate, he or she must:
8
30 sec
Q.
Every Nevada real estate office is required to:
9
30 sec
Q.
After proper investigation, a payment is made from the real estate education, research, and recovery fund owing to the improper activities of a licensee. What happens when the payment is made?
10
30 sec
Q.
How are members of the Nevada Real Estate Commission selected?
11
30 sec
Q.
A salesperson has left a real state broker, and his license has been returned to the division. What maximum time is allowed for re-affiliation before the license is placed on inactive status?
12
30 sec
Q.
Which of the following agreements does not need to be in writing?
13
30 sec
Q.
Which of the following is NOT grounds for disciplinary action?
14
30 sec
Q.
Which of the following options can an owner-developer not register with the Real Estate Divison for developing five or more of?
