Free Nevada Real Estate Practice Test (2026) — LicenseIQ

Question 1

Which statement about a completed Seller's Real Property Disclosure Form is correct?

Accepted Answer

NRS 113.140 says the form is not a warranty, the seller need not disclose unknown defects, and nothing relieves the buyer of the duty to use reasonable care.

Question 2

A broker received a 4.2% commission totaling $12,600. What was the sale price?

Accepted Answer

Sale price = commission / rate = $12,600 / 0.042 = $300,000.

Question 3

A contract clause stating that 'time is of the essence' means:

Accepted Answer

'Time is of the essence' makes performance by the stated dates essential; missing a deadline can be a breach.

Question 4

A seller knows that the basement flooded last spring, but the damage was repaired and is not visible. The seller and listing agent must:

Accepted Answer

Latent (hidden) defects known to the seller or agent must be disclosed; failing to do so can create liability for both.

Question 5

Private mortgage insurance (PMI) is typically required on a conventional loan when the down payment is:

Accepted Answer

PMI protects the lender and is generally required when the borrower puts down less than 20% (LTV over 80%).

Question 6

A house is L-shaped: one section is 40 ft by 30 ft and the other is 20 ft by 15 ft. At $185 per square foot, what is the estimated cost to build?

Accepted Answer

Area = (40 x 30) + (20 x 15) = 1,200 + 300 = 1,500 sq ft; 1,500 x $185 = $277,500.

Question 7

Refusing to rent to a family with children generally violates which protected class?

Accepted Answer

Familial status (households with children under 18, pregnant women) is protected under the federal Fair Housing Act. Marital status is protected under NJ LAD but not federal law.

Question 8

After the buyer and seller sign a sales contract but before closing, the contract is:

Accepted Answer

A contract is executory while obligations remain to be performed; it becomes executed when fully performed (at closing).

Question 9

A sales contract provides that if the buyer defaults, the seller keeps the earnest money as the full measure of damages. This is a:

Accepted Answer

Liquidated damages are a sum agreed in advance as compensation for breach - often the earnest money deposit.

Question 10

Last year's tax on an owner-occupied Reno home was $2,800. Before abatement, this year's tax would be $3,150 with no new improvements. What will the owner pay?

Accepted Answer

The cap is 3%: $2,800 × 1.03 = $2,884. The abatement is $3,150 − $2,884 = $266. $3,024 applies an 8% cap, which is for other property.

Question 11

The document issued by a VA-approved appraiser for a VA loan is the:

Accepted Answer

The VA appraiser issues a CRV. The Certificate of Eligibility establishes the veteran's entitlement before applying.

Question 12

The seller never delivers a Seller's Real Property Disclosure Form. What may the buyer do?

Accepted Answer

NRS 113.150 lets the buyer rescind at any time before conveyance without penalty when the form is not served. The 4-working-day window applies to a disclosed defect.

Question 13

A mortgage lender offers a salesperson $200 for every client referred. Under RESPA this is:

Accepted Answer

RESPA prohibits kickbacks and unearned referral fees between settlement service providers and real estate licensees, even if disclosed.

Question 14

How long does a Nevada CIC resale package remain effective?

Accepted Answer

NRS 116.4109 provides that a resale package remains effective for 90 calendar days.

Question 15

During a listing walk-through, the agent notices fresh paint on one ceiling area and a musty odor. The agent should:

Accepted Answer

Agents are not inspectors, but must recognize red flags (stains, odors, cracks) and disclose them for further investigation.

Question 16

Which Nevada right requires the buyer's notice to be notarized?

Accepted Answer

Only the NRS 113.150 rescission for a disclosed defect must be in writing, notarized and served within 4 working days. The CIC and timeshare cancellations require written notice but not notarization.

Question 17

A licensee's advertising must generally:

Accepted Answer

Ads must identify the licensed broker/brokerage; salespersons cannot advertise under only their own name.

Question 18

How long must a Nevada broker keep complete transaction records?

Accepted Answer

NAC 645.650 requires at least 5 years from closing or last activity, unless the Division directs otherwise.

Question 19

Which statement must the written consent for multiple representation include under NRS 645.252?

Accepted Answer

The consent must describe the transaction, state the conflict of interest, state the licensee will not disclose confidential information for 1 year, state that a party is not required to consent, and state the consent is given without coercion.

Question 20

Which sale is exempt from the Seller's Real Property Disclosure Form requirement?

Accepted Answer

NRS 113.130 exempts foreclosure sales, transfers among co-owners, spouses or relatives within the third degree, a licensed builder's first sale, and relocation-company transfers. Investors, trustees and as-is sales are not exempt.

Question 21

A single-family home rents for $2,100 per month. Comparable homes sell at an ANNUAL gross rent multiplier of 12. What is the estimated value?

Accepted Answer

Annual rent = $2,100 x 12 = $25,200; value = $25,200 x 12 = $302,400.

Question 22

Zoning allows commercial vehicles to be parked in driveways, but the subdivision's restrictive covenants prohibit it. Which rule applies?

Accepted Answer

When public and private restrictions overlap, the more restrictive one must be followed.

Question 23

Under the Housing for Older Persons Act, a '55 and older' community generally requires that:

Accepted Answer

55+ housing requires at least 80% of occupied units to have one resident 55+; 62+ housing requires all residents to be 62+. The exemption applies only to familial status.

Question 24

Which statement about the Duties Owed form (Form 525) is accurate?

Accepted Answer

Form 525 states that it is not a contract for services or an agreement to pay compensation. Brokerage agreements are separate written contracts, and the duty to provide the form is not waivable.

Question 25

When applying for a Nevada salesperson license, exam passing results must be dated within what period?

Accepted Answer

The Division requires original state and national passing results dated within the last 12 months. Ninety days applies to a certified license history from another state, not to exam results.

Nevada real estate practice test

1. Which statement about a completed Seller's Real Property Disclosure Form is correct?

2. A broker received a 4.2% commission totaling $12,600. What was the sale price?

3. A contract clause stating that 'time is of the essence' means:

4. A seller knows that the basement flooded last spring, but the damage was repaired and is not visible. The seller and listing agent must:

5. Private mortgage insurance (PMI) is typically required on a conventional loan when the down payment is:

6. A house is L-shaped: one section is 40 ft by 30 ft and the other is 20 ft by 15 ft. At $185 per square foot, what is the estimated cost to build?

7. Refusing to rent to a family with children generally violates which protected class?

8. After the buyer and seller sign a sales contract but before closing, the contract is:

9. A sales contract provides that if the buyer defaults, the seller keeps the earnest money as the full measure of damages. This is a:

10. Last year's tax on an owner-occupied Reno home was $2,800. Before abatement, this year's tax would be $3,150 with no new improvements. What will the owner pay?

11. The document issued by a VA-approved appraiser for a VA loan is the:

12. The seller never delivers a Seller's Real Property Disclosure Form. What may the buyer do?

13. A mortgage lender offers a salesperson $200 for every client referred. Under RESPA this is:

14. How long does a Nevada CIC resale package remain effective?

15. During a listing walk-through, the agent notices fresh paint on one ceiling area and a musty odor. The agent should:

16. Which Nevada right requires the buyer's notice to be notarized?

17. A licensee's advertising must generally:

18. How long must a Nevada broker keep complete transaction records?

19. Which statement must the written consent for multiple representation include under NRS 645.252?

20. Which sale is exempt from the Seller's Real Property Disclosure Form requirement?

21. A single-family home rents for $2,100 per month. Comparable homes sell at an ANNUAL gross rent multiplier of 12. What is the estimated value?

22. Zoning allows commercial vehicles to be parked in driveways, but the subdivision's restrictive covenants prohibit it. Which rule applies?

23. Under the Housing for Older Persons Act, a '55 and older' community generally requires that:

24. Which statement about the Duties Owed form (Form 525) is accurate?

25. When applying for a Nevada salesperson license, exam passing results must be dated within what period?

Sources