Nevada Real Estate Exam Prep

NV Salesperson Practice Exam

Our Nevada Real Estate Exam Preparation guide will have you quickly prepared for your upcoming Salesperson License Exam. We have helped license over 50,000 students with an exam pass rate of over 95%. The practice exam questions and answers were created by industry experts and are constantly updated to Nevada’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

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Nevada License Requirements

Applicants for a real estate salesperson license must show, proof of completion of the required 90 hours or 6 semester units of instruction in real estate principles, practices and law from a Nevada Real Estate Commission accredited provider.
The course must include a minimum of 18 hours ofNevada law. Certified transcripts must be submitted with the license application. Copies of certified transcripts are accepted.
Applicants must show proof of passing the national and Nevada state exam within one year of the application date.
Applicants may use their national examination results from another state (if dated within one year of the date of application for a Nevada real estate license) but must show proof of those results.

Nevada Sample Practice Real Estate Exam Questions and Answers

Nevada State Section

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Question 1

How soon can a broker receive a commission check after a closing in Nevada?

A	Once the seller agrees to the price.
B	Once the offer sheet is signed.
C	After the transaction is completed and funded.
D	When the Buyer moves in.

Question 2

What is a holographic will?

A	a will and testament that has been entirely handwritten and signed by the testator.
B	a will that has been approved by each family member.
C	a will that displays in 3D
D	a standard boiler plate will.

Question 3

Which of the following isn't part of a deed?

A	acknowledgement
B	Habendum
C	novation
D	Premises

Question 4

What term means "going to the state?"

A	Taxation
B	police power
C	escheat
D	Eminent Domain

Question 4 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 5

Who is responsible for maintaining a habitable property and for complying with local housing and building codes:

A	Lessor
B	Agent
C	Buyer
D	Lessee

Question 6

What tenancies does Nevada allow?

A	all of the above
B	community property
C	community property with right of survivorship
D	tenancy in common
E	joint tenancy with right of survivorship

Question 7

What is homestead protection?

A	The estimated value that an asset will have at then end of it's useful life
B	Gradual subsidence of waters, leaving dry land
C	Net cash remaining to investor after sale of investment property
D	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.

Question 8

The Salesperson license fee costs how much?

A	$120
B	$100
C	$135
D	$125

Question 9

Does Nevada have dower laws?

A	Yes
B	No, but a separate quitclaim deed may be executed at the same time as the mortgage

Question 10

The license law is administered by:

A	Nevada Real Estate Commission
B	Nevada Real Estate Division
C	Nevada Real Estate Department
D	Department of Nevada Real Estate

Question 11

Which of the following is a landlord's option for a tenant not paying the rent?

A	Notice to Quit for Unlawful Detainer
B	shut off the power
C	shutoff the gas
D	lock the tenant out of the apartment

Question 12

Does Nevada have homestead laws?

A	No
B	Yes

Question 13

Does Nevada allow Holographic wills?

A	Yes
B	No

Question 14

Mortgage "discount" points only apply if which of the following conditions are met?

A	The seller has agreed to pay 1% of the closing costs
B	The loan does not close and the buyer owes the lender for services rendered
C	The interest rate on the mortgage loan has been lowered by 2% for each point charged
D	The interest rate on the mortgage loan has been lowered by 1% for each point charged

Question 15

How many hours of Continuing education are required for subsequent salesperson license renewals, if the license is renewed after July 1, 2015?

A	30 hours
B	12 hours
C	24 hours
D	15 hours

Question 16

After initially passing the real estate salesperson license exam, 30 hours of continuing education classes must be completed

A	in the first 4 years
B	in the first year
C	in the first 3 years
D	in the first 2 years

Question 17

In what circumstances, if any, can a broker in Nevada who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller have legal representation
B	In most circumstances, except when the buyer and seller are related
C	Only when both buyer and seller give informed consent to this arrangement
D	None; the broker may only collect compensation from one party to a transaction

Question 18

Which is not necessary for a valid contract?

A	offer
B	acceptance
C	due date
D	legal object

Question 19

Standing trees would be considered:

A	Real property
B	Chattels
C	Personal Property
D	Emblements

Question 20

Is Nevada a community property state?

A	No
B	Yes

Question 21

Which of the following would not put a sales person in jeopardy of losing their license in Nevada?

A	Being authorized to accept and excessive commission.
B	Placing an ad claiming to be a broker when they are not.
C	Convicted of a felony
D	Depositing his/her clients escrow money into a personal account

Question 22

Which of the following is required for an applicant to receive a Real Estate License?

A	Must sit and pass the required exam
B	Must have a Bachelors degree
C	Must be 25 or older
D	Must have lived in the state for more than a year

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