Nevada Real Estate Salesperson Exam — All Questions

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AllProperty OwnershipLand Use Controls and RegulationsValuation and Market AnalysisFinancingContractsAgencyProperty DisclosuresTransfer of TitlePractice of Real EstateProperty ManagementReal Estate CalculationsNevada License Law (NRS 645)Nevada Agency and Required DisclosuresNevada Real Estate PracticeNevada Licensing Requirements

2 questions

Nevada Agency and Required Disclosures

Which written disclosure does NRS 645 require a Nevada licensee to give describing the statutory duties every licensee owes?

  • a.The Consent to Act form
  • b.The Duties Owed by a Real Estate Licensee disclosure✓
  • c.The Seller's Real Property Disclosure Form
  • d.A designated agency addendum

Nevada requires a licensee to provide the 'Duties Owed by a Real Estate Licensee' disclosure, which describes duties such as reasonable skill and care, disclosing material facts, and accounting for money. These duties apply whether or not the licensee represents the person as a client.

Nevada Agency and Required Disclosures

In Nevada, a licensee may act for both the buyer and the seller in the same transaction only after obtaining:

  • a.Approval from the county recorder
  • b.A separate broker license
  • c.A verbal agreement from either party
  • d.The written Consent to Act from both parties✓

Nevada requires a licensee to obtain the written 'Consent to Act' from both the buyer and the seller before acting for both in the same transaction. When acting for both, the licensee may not disclose one party's confidential information, such as their negotiating position, to the other.

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