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Timeshare > Timeshare > Flashcards

Timeshare Flashcards

1
Q

TSA license valve for?

A

2 years

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2
Q

If a timeshare agent initially becomes license on June 6, 2000 when the license expires

A

June 30, 2002

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3
Q

An applicant for an original timeshare license must provide?

A

An application, certificates for passing examination and for completing the 14 hour prelicensing course, and whether $175

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4
Q

If attach your agents or knows of the divisions file charges against him or her he or she has how many days in which to file with the division in answer to the charges?

A

20 days

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5
Q

A developer may not make a material change in a time share plan without giving the division at least how many days notice?

A

10 days

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6
Q

What is the Nevada timeshare law called?

A

NRS 119A

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7
Q

How much is the renewal fee for timeshare agents license

A

$175

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8
Q

What is the fee for timeshare agent to change from one broker/developer to another

A

$20

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9
Q

The document container covenants conditions and restrictions which regulate the product is called the..

A

Bylaws

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10
Q

A resort structure to allow for whole owner tenants and timeshare interest owners is referred to as

A

Mixed-use resort

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11
Q

Resort to utilize a reservation system based on availability are referred to as

A

Floating resorts

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12
Q

Initially in the hiring for resort managers done by the

A

Developer

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13
Q

What is meant by mental capacity

A

Being able to understand the nature of the contract

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14
Q

The person according to sale timeshares four times your product into home sales agents and representatives are responsible is the

A

Project broker

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15
Q

Developer Tyson has defaulted on his project which clause provides protection from prior purchases?

A

Non-disturbance clause let’s face so if you would new in this still you can just hit

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16
Q

How are prospective purchaser get the best deal on timeshare?

A

Buy a pre-existing owner

17
Q

The purchaser may cancel the transaction

A

Until midnight of the fifth calendar day after same

18
Q

Esther may not be close until the

A

Buyers check clears the bank, project is free and clear of any blanket encumbrances, cancellation period has expired

19
Q

Developer Douglas has submitted an application to the administrator or permit to sell timeshare the division shall issue an order within how many days after the receipt of the application

A

30 days

20
Q

The administrator has scheduled an informal meeting to discuss certain sales practices at Douglas promotional meeting which of the following is not true

A

Mandate a judge or constable be present for the record

21
Q

The sale of timeshare interest in the state of Nevada is regulated under the provisions of

A

The sale of time share interest in the state of Nevada is regulated under the provisions of never Nevada revised statue 119a

22
Q

Most timeshare units are sold on credit the lending arrangements must comply with regulations Z of the Federal Reserve Board the primary purpose of regulations Z has applied to time share sales is that Uassure which of the following

A

full disclosure of all financing costs in charges

23
Q

Federal Reserve Board’s regulation Z is applicable

A

Fees only, right to use only, Campsite membership,

24
Q

Finding financing of individual unit sales is most often provided

A

The developer

25
Q

Anyone purchasing a timeshare must

A

Sign a written contract

26
Q

After purchaser has signed the time share purchase agreement to purchaser may

A

Cancel the agreement anytime in the next five days

27
Q

You must have just completed making a timeshare sale your buyers go back to the hotel and after dinner or have a few cocktails, and a second thoughts about the purchase. Can they change their mind to get out of the deal?

A

Yes they have the right to revoke for any reason 45 calendar days

28
Q

If the timeshare project is affiliated with

A

Hey any or all fees charged by the exchange plan for the first two years

Timeshare (1 decks)

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