150 Nevada Law Portion Real Estate Exam Questions Flashcards

150 Nevada Law Portion Real Estate Exam Questions Flashcards The licensing law of Nevada requires that the: Broker disclose information that materially affects the property even when the buyer does not ask for it All of the following are grounds for disciplinary action

against a lines EXCEPT:A. Trying to negotiate a sale of

property directly with an owner while that owner is currently exclusively listed with another broker.B. Giving information on a rental to a tenant without the landlord's permission.C.Refusing to write a low offer that the licensee knows will not be accepted.D. Refusing to show property to a prospective purchaser due to poor credit.

• Refusing to show property to a prospective purchaser

due to poor credit.Salesperson Harriet engages in discriminatory activities and deported and earnest money check in her personal account. Harriet's broker, John, was unaware of these activities. What is the impact of Harriet's behavior on John when the violations were brought up to the Commission?John may be disciplined for failure to supervise.Under the terms of the contract, a seller is required to provide a termite certification. The seller requests his listing agent to order one. The agent does so, knowing he will receive referral fee from the pet control company. Is this a violation of Nevada license law?Yes, because a salesperson may not receive compensation from anyone other than his employing broker.A Seller's Real Property Disclosure document is required for all of the following properties EXCEPT A new home Several weeks after the close of escrow, a broker-salesperson received a nice thank you note with a bonus check from the seller. The broker-salesperson cashed the check and kept the funds for her own use. What is true?This is a violation of Nevada regulations and the broker-salesperson may be disciplined.

Regarding time share promotional meetings:A. Division

employees may attend.B. Recording devises are not allowed.C. Verbal statements may enhance written advertising.D. Shills are permitted.

• Division employees may attend.

A Nevada Licensee must give the Duties Need by a Nevada Licensee form to prospective purchasers or

tenants:

No later than the time of entering an agreement to purchase or lease A broker may collect a commission from both the seller and

the buyer only if:

Both parties give their informed, written consent.If a Nevada licensee tells the lender that the sales price on

a property is something other than its actual sale price, the:

Licensee can have his or her license suspended or revoked