Nevada · state portion

Free Nevada Agency & Duties Owed practice questions

10 original questions with full explanations. 8 of the 40 scored state-portion questions (about 20%) come from this area.

1. 1

   A Nevada licensee represents a buyer in a transaction and wants to also represent the seller. What must the licensee obtain from both parties?

   • A. A written listing agreement
   • B. A waiver of the duty of loyalty
   • C. A disclosure of the licensee's commission split
   • D. A CONSENT TO ACT
   Show answer & explanation

   Answer: D

   The licensee must obtain a CONSENT TO ACT from both parties to represent more than one party in the transaction.

2. 2

   A Nevada real estate salesperson must provide which document to the client at the earliest reasonable opportunity to explain the duties owed by the licensee?

   • A. Duties Owed by a Nevada Licensee
   • B. Seller's Real Property Disclosure Form
   • C. Resale Package
   • D. Waiver of Liability
   Show answer & explanation

   Answer: A

   The 'Duties Owed by a Nevada Licensee' is the mandatory agency-relationship disclosure in Nevada.

3. 3

   A Nevada real estate salesperson is working with a buyer who has already received the 'DUTIES OWED BY A NEVADA LICENSEE' disclosure. What is the salesperson's responsibility regarding this disclosure?

   • A. To provide the disclosure again at the initial interview
   • B. To provide a written confirmation of the agency relationship
   • C. To obtain a waiver of the agency relationship
   • D. To confirm that the buyer has already received the disclosure
   Show answer & explanation

   Answer: D

   If a buyer has already received the 'DUTIES OWED BY A NEVADA LICENSEE' disclosure, the salesperson is not required to provide it again, but should confirm that the buyer has already received it.

4. 4

   What is the purpose of the confirmation of the agency relationship in a Nevada real estate transaction?

   • A. To establish a dual agency relationship
   • B. To inform clients of the duties owed by a Nevada licensee
   • C. To obtain waiver of the agency relationship
   • D. To confirm the client's understanding of the agency relationship
   Show answer & explanation

   Answer: D

   The confirmation of the agency relationship is used to confirm the client's understanding of the agency relationship.

5. 5

   A Nevada licensee represents a seller in a transaction. The buyer wants to negotiate directly with the seller. What is required?

   • A. A written waiver from the seller
   • B. A signed CONSENT TO ACT from the seller
   • C. A written request from the buyer to the Nevada Real Estate Division
   • D. A signed authorization from the seller to negotiate directly with the buyer
   Show answer & explanation

   Answer: D

   The seller must provide written authorization to the licensee to allow direct negotiation with the buyer.

6. 6

   When must a Nevada real estate salesperson confirm the agency relationship with a client or customer?

   • A. At the initial meeting
   • B. When the client or customer requests it
   • C. At the closing of the transaction
   • D. Before preparing an offer to purchase
   Show answer & explanation

   Answer: D

   A Nevada real estate salesperson should confirm the agency relationship with a client or customer before preparing an offer to purchase, as this is a critical step in establishing the scope of the agency relationship.

7. 7

   A Nevada salesperson is working with a buyer who wants to purchase a property. What must the salesperson do to confirm the agency relationship with the buyer?

   • A. Provide the buyer with a copy of the 'DUTIES OWED BY A NEVADA LICENSEE' disclosure form
   • B. Obtain a written acknowledgement from the buyer of the agency relationship
   • C. Explain the benefits of working with a real estate agent to the buyer
   • D. Disclose the salesperson's commission to the buyer
   Show answer & explanation

   Answer: A

   The 'DUTIES OWED BY A NEVADA LICENSEE' disclosure form is used to confirm the agency relationship and inform the client of the duties owed by the licensee.

8. 8

   A Nevada licensee is working with a buyer and a seller in the same transaction. Can the licensee authorize the buyer to negotiate directly with the seller?

   • A. Yes, with the seller's consent
   • B. Yes, without the seller's consent
   • C. No, the licensee must be present during all negotiations
   • D. No, the licensee can only authorize the buyer to negotiate with the seller's agent
   Show answer & explanation

   Answer: A

   In Nevada, a licensee can authorize the buyer to negotiate directly with the seller, but only with the seller's consent, which must be obtained in writing.

9. 9

   What is required for a Nevada real estate licensee to confirm the agency relationship with a client?

   • A. A verbal acknowledgement from the client
   • B. A duties owed disclosure form
   • C. A signed Consent to Act form
   • D. A written agreement signed by the client
   Show answer & explanation

   Answer: D

   A written agreement signed by the client is required to confirm the agency relationship.

10. 10

    What is the duty of a Nevada real estate salesperson to their client when dealing with confidential information?

    • A. To disclose the information to the other party
    • B. To use the information to benefit the salesperson
    • C. To share the information with other salespersons
    • D. To keep the information confidential
    Show answer & explanation

    Answer: D

    A Nevada real estate salesperson has a duty to keep confidential information confidential when dealing with their client.