Nevada Real Estate Salesperson Exam — All Questions
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Real estate salespersons in Nevada are licensed and regulated under NRS Chapter 645 by:
- a.The Nevada Association of Realtors
- b.The Nevada Real Estate Division of the Department of Business and Industry✓
- c.The Nevada Secretary of State
- d.The county recorder
The Nevada Real Estate Division, within the Department of Business and Industry, administers NRS Chapter 645 and licenses salespersons and brokers, while the Real Estate Commission handles regulations and discipline. A trade association is a private membership group and does not license practitioners.
Under Nevada law, a real estate salesperson may perform brokerage activity:
- a.Independently once the license is issued
- b.For any broker without being placed under one
- c.Only on behalf of and under the supervision of a licensed broker✓
- d.Only after also obtaining a property manager permit
A Nevada salesperson may perform licensed brokerage activity only on behalf of and under the supervision of a licensed real estate broker. The salesperson may not act independently, and the broker is responsible for supervision and trust accounts.
A Nevada salesperson may lawfully accept compensation for licensed activity from:
- a.The broker under whom the salesperson is licensed✓
- b.The buyer directly at closing
- c.The seller directly upon listing
- d.Any cooperating broker in the transaction
Under NRS 645, a Nevada salesperson may accept compensation for licensed activity only from the broker under whom the salesperson is licensed, not directly from a client or another broker. The supervising broker is responsible for paying the salesperson.