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Nevada State Examination Outline
Detailed Content - Drafted 1998
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| I. Duties and Powers of the Real Estate Division |
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A. General Powers |
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B. Investigations, Hearings and Appeals |
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C. Sanctions: License Suspension and Revocation (NRS 645.680); Misdemeanor; Administrative Sanctions (NAC 645.695); Grounds for Discipline (NRS645.630, 645.633, 645.645) |
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D. Inspection of Records |
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E. Determining Misconduct (NAC 645.605) |
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| II. Licensing Requirements |
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A. Types of Licensing; Activities Requiring a License |
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B. Cooperative Certificate (NAC 645.180, 645.183, 645.185) |
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C. Property Management Permit |
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D. License Renewal |
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E. Change in License/Terminations (NRS 645.570) |
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F. Reasons for Denial (NRS 645.560; NAC 645.610, 645.615) |
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| III. Statutory Requirements Governing the Activities of Licensees |
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A. Advertising (NRS 645.560; NAC 645.610, 645.615) |
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B. Broker/Salesperson Relationship; Broker Supervision of Licensees |
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C. Commissions (NRS 645.280) |
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D. Disclosures |
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1. Nevada Duties Owed (NRS. 645.252, 645.253, 645.254; NAC 645.637, 645.640) |
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2. Seller Real Property Disclosure (NRS 113.130, 113.140, 113.150) |
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3. Zoning |
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4. Disclosure of common-interest communities |
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5. Material Facts (NRS 645.254.3(c)) |
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6. Interest in Property (NAC 645.535.4) |
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E. Preparation and Handling of Documents |
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1. Earnest money deposits (NRS 645.630.9) |
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2. Contracts |
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3. Presenting all offers (NRS 645.254.3(b)) |
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4. Proper tender of offers (NRS 645.630, 645,632) |
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5. Project documentation (such as documents of common-interest ownership, CRRs) |
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F. Brokerage Agreements (NRS 645.005; exclusive listings NAC 645.535) and Advance Fees (NRS 645.002, 645.004; NAC 645.675, 645.678) |
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G. Branch Office and License Display (Branch office, NAC 645.175, 645.177, 645.178; license display, NRS 645.530; business license required, NRS 645.250) |
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H. Record Keeping and Trust Account Reconciliation |
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I. Other situations that could result in action against licensee |
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1. Convicted of a felony (NRS 645.633.4) |
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2. Failure to pay child support |
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3. Non-compliance |
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A. Subdivisions and Time Shares (NRS/NAC 119,119A) |
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B. Campgrounds (NRS/NAC 119B) |
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C. Qualified Intermediaries (NRS 645.606, 645.6065) |
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D. Real Estate Education, Research, and Recovery Fund (NRS 645.841-.848) |
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E. Closing Statements |
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F. Environmental Issues (including Federal Lead-Based Paint Disclosure) |
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G. Water Rights/Leased Land |
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H. Duties to Client |
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1. Area of expertise (NRS 645.254.3(d); NAC 645.605.3) |
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2. Responsibility to represent client (NRS 645.254.3) |
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3. Account for all monies (NRS 645.254.3(e)) |
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