Real Estate Express, Chapter 2

Question 1

Three types of real estate licenses regulated by NRS645 and NAC645.

Answer 1

Salesperson
Broker-Salesperson
Broker

Question 2

Requirements for a Nevada Real Estate License

Answer 2

At least 18 YO
Submit an application to the Division with the following.
.Fee
.Fingerprint Card
.Proof met educational requirements
.Child Support Statement
.Proof of passing grade on Exam
.Any other info required

Question 3

What are the basic requirements for real estate licenses?

Answer 3

Salesperson
Broker-Salesperson
Broker

Question 4

The broker must get the Division’s approval of:

Answer 4

Financial Condition

Satisfies Experience requirements

Question 5

All applications must include:

Answer 5

Name
Age
Addreess
Plus all information for members of a group

Whether the applicant has been convicted or under indictment for a felony crime

Whether the applicant has been convicted of or entered a plea of “Nolo Contendere to:

1. Forgery
2. Embezzlement
3. Larceny
4. Extortion
5. conspiracy to defraud
6. Engage in the business of selling realestate without a license.

Has the applicant ever been refused a license in any other state?

Or the license has been revoked?
Name and office of the Organization

The name of the organization. and place of business.

Question 6

Who must submit a fingerpring card?

Answer 6

Salespersons
Broker-Salespersons
Beokers

Question 7

Who must submit a statement regarding Child Support

Answer 7

Salespersons
Broker-Salespersons
Beokers

Question 8

If the applicant does not submit a child support report, is not in compliance with Child Support court order what is the result?

Answer 8

Application will be denied.

Question 9

What experience ids required for a broker license?

Answer 9

Must have been actively engaged as a full-time Salesperson-Broker or Salesperson for at least 2 of the last 4 years

Question 10

What prff of moral character is required by the Division of applicants

Answer 10

Proof of a reputation for Honesty, Trustworthrness and itegrity

Question 11

Reasons for Denial

Answer 11

Forgery,
Embezzlement,
Obtaining money under false pretenses,
Larceny,
Extortion,
Conspiracy to defraud,
Engaging in a real estate business without a license,
Possessing for the purpose of sale any controlled substance, or
ANY crime involving moral turpitude.

Question 12

Other Reasons for denial

Answer 12

1. The application is not in proper form;
2. The application is not accompanied by the required fees;
3. The accompanying forms are incomplete or otherwise unsatisfactory;
4. The application contains any false statement(s);
   Other “deficiencies” appear in the application;
5. An investigation into the applicant’s character and history shows that the applicant does NOT possess the necessary qualifications (good moral character and financial responsibility, etc);
6. The applicant has willfully acted or attempted to act in any violation of the Nevada real estate license laws, or has willfully acted or attempted to act to help someone else in such a violation.

Question 13

After denial, notice must be given within how many days?

Answer 13

15 days

Question 14

How long after a notice of denial does the applicant have to file for a hearing?

Answer 14

30 days

Question 15

Commission has how many days to provide a written decision on an appeal?

Answer 15

60 days

Question 16

Commissionj has how long to notify all parties of the decision of appeal?

Answer 16

15 days