
Nevada Real Estate Exam: 1
Quiz by Ashlei Frank
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A complaint or other document filed with the Commission to initiate disciplinary action and all documents and information considered by the Commission when determining whether to impose discipline are which of the following?
To qualify to become a member of the Real Estate Commission, a person must meet which of the following requirements?
The entity that adopts regulations establishing standards for the operation of licensee's offices and for their business conduct and ethics is which of the following?
Who is responsible for managing water rights in Nevada?
Before applying for water rights in Nevada, what must an applicant do first?
Who is responsible for granting water rights in Nevada?
Which form is commonly used alongside the Supplemental Duties Owed form to disclose dual agency in Nevada real estate transactions?
When must the Lead-Based Paint Disclosure be provided to buyers in residential real estate transactions in compliance with federal law?
Who is responsible for filling out the SRPD form?
Which disclosure form is used to inform buyers and sellers about potential environmental hazards on the property?
Which disclosure form is required for properties built before 1978?
Mold is most likely to be present in which area of a property?
Which of the following documents is typically NOT included in a resale packet provided to buyers when purchasing a condominium?
Which individual is typically not subject to Nevada licensing laws?
Why might Sarah not be able to accept the finder's fee offered by a real estate agent?
The seller has concerns about selling the property and is worried about asbestos. The agent has his brother who is a property inspector inspect the property and informs the agent-brother that everything looks okay and the seller should have nothing to worry about. The agent states that the seller isn't worried about anything and that this information is great. What ethical violation did the agent commit?
A transaction involving a used manufactured home or used mobile home that has not been converted to real property requires a disclosure that contains which of the following?
A special disclosure requirement for a person selling or proposing to sell an improved lot includes which of the following?
Seller informs the agent that the roof leaks. The agent inspected the property themselves and noticed no signs of the roof leaking. What must the agent do
What does errors and omissions (E&O) insurance typically protect real estate professionals against?
When purchasing a home or unit in a common interest community that has not previously been sold, the purchaser must receive which of the following?
The seller of a property has had several problems with the water heater not keeping a consistent temperature. The property is listed for sale. The seller, while completing the property condition form, asks the seller's agent if the water heater should be mentioned. The agent should:
The escrow company designated in a purchase contract to receive an earnest money deposit is co-owned by the real estate broker with whom the agent is associated. The agent may do which of following?
An agent received an earnest money deposit on Saturday. When must the money be deposited by?
Which must be included in an advertisement
Which of the following is a requirement under the Americans with Disabilities Act (ADA) for commercial real estate properties?
Under the Americans with Disabilities Act (ADA), if a residential tenant requests to make modifications to their unit to accommodate a disability, what can the landlord typically require?
A purchaser not wishing to receive a completed property disclosure form from the seller of residential property may do which of the following?
If a seller adds an addendum to a real estate contract after it has been signed by both parties, what options does the agent have to inform the buyer?
What is the purpose of an addendum in a real estate contract?
If a buyer defaults on a promulgated real estate contract, the seller, under statutory law, CANNOT
A seller requests that an addendum be attached to the contract. The licensee must
A buyer wishes to add conditions to their acceptance, based on property condition, to the "property condition" clause on the contract. Which statement is true?
An agent working for a buyer may
A licensee who is associated with a real estate broker must be supervised by which of the following?
Who typically receives the "Duties Owed" form from a real estate agent?
A buyer has a contract with the seller to purchase the property for $150,000 in 180 days. What type of contract is this?
A buyer in a transaction decides not to accept a counteroffer on a property given by the seller of the property. The licensee representing the buyer must do which of the following?
When an owner is financing a buyer's purchase money in a residential real estate transaction, the following mandatory promulgated addendum must be used when the term of the note is for only 10 years
Sam successfully completed his real estate examination requirement on April 1, 2024. What is the latest date on which he may apply for a salesperson's license?
Regarding the location of transaction records, a broker:
In Nevada Buyer-brokerage contracts:
What two agencies are permitted in Nevada?
Ten years ago, Unit 1A in a condominium community was the site of a brutal and highly publicized murder. The unit was sold to an elderly man who contracted the AIDS virus in a blood transfusion and died in the unit last year. As the agent for the man's estate, what are your disclosure responsibilities to prospective purchasers of Unit 1A?
In any real estate sales transaction that a broker negotiates, the broker is required to do all the following except:
When completing the seller's real property disclosure form in Nevada, how should a seller disclose information about solar panels installed on the property?