Timeshare Test #2 | 50 Questions with 100% Correct Answers | Updated & Verified
Question : The Nevada Revised Statue that deals with the
timeshare industry in Neveda is titled:
Correct answer: 119A
Question : Timeshare right to use is considered:
Correct answer: A contractual agreement
Question : Timeshare is:
Correct answer: A way to freeze vacation costs
Question : Fractional ownership of a timeshare is:
Correct answer: One month to half a year
Question : An arrangement to do not to do certain things is
called:
Correct answer: Contract
Question : All are necessary to the creation of an agency
relationship except:
Correct answer: Agreement of both parties
Question : Which of the following is not a necessary element
in the information of a contract?
Correct answer: Performance
Question : Financing for an individual timeshare is done by
this:
Correct answer: Developer
Question : The value of an individual timeshare unit usually:
Correct answer: Goes down in value
Question : Consideration in connection with a contract may
be which of the following:
Correct answer: A payment of money
Question : A void contract is one that is:
Correct answer: Not enforceable by law
Question : A voidable contract is:
Correct answer: Valid until action is taken to make it void
Question : The majority of timeshare owners are:
Correct answer: Fee deed and title
Question : The great percentage of timeshare exchanges were
purported to be:
Correct answer: Successful
Question : The law that requires certain contracts to be in
writing to be enforceable is called the:
Correct answer: Statute of Frauds
Question : An agency coupled with an interest is one:
Correct answer: Where the salesperson makes a secret profit
at the expense of this principal
Question : An agent warrants:
Correct answer: His authority to act on his client's behalf
Question : A salesman may lose his license for commingling.
Which one of the following would not be considered commingling?
Correct answer: Holding an uncashed deposit check at the
direction of the buyer
Question : In regard to buying timeshare you could probably
et the best deal:
Correct answer: If you deal with an owner rather than a
developer
Question : The Real Estate Division is directed by the: