Timeshare Test 2 Questions with Complete Solutions 100

Timeshare Test #2 Questions with Complete Solutions 100% Verified 2024/2025 The Nevada Revised Statute that deals with the timeshare industry in Nevada is titled:

A. 1551

B. 119A

C. 119B

• 645 - Correct Answer B. 119A

Timeshare right to use is considered:

• A contractual agreement
• Deed and title
• An open arrangement
• None of the above - Correct Answer A. A contractual agreement

Timeshare is:

• A great investment
• A way to freeze vacation costs
• Easily financed
• A good tax deduction - Correct Answer B. A way to freeze vacation costs

Fractional ownership of a timeshare is:

• From one day to 29 days
• A series of 21 day stays
• Weekends only 1 / 2

• One month to half of a year - Correct Answer D. One month to half of a year

An arrangement to do, not to do certain things is called:

• Declaration
• Contract
• Affidavit
• Testament - Correct Answer B. Contract

All are necessary to the creation of an agency relationship except:

• Consideration
• Agreement of both parties
• Principal with capacity
• Mutuality - Correct Answer B. Agreement of both parties

Which of the following is not a necessary element in the information of a contract?

• Consideration.
• Acceptance
• Performance
• Offer - Correct Answer C. Performance

Financing for an individual timeshare is done by the:

• Developer
• Local banks
• Visa/MasterCard
• The Financial Timeshare Corporation - Correct Answer A. Developer
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