Nevada Timeshare License Practice Exam

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Prepare for the Nevada Timeshare License Exam with interactive questions and comprehensive explanations. Familiarize yourself with the format and content of the test to boost your chances of success!

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What term describes a resort that has both whole owners and timeshare interest ownership?

Mixed use resort
Fractional ownership resort
Exclusive use resort
Shared ownership resort

The correct answer is: Mixed use resort

The term that accurately describes a resort that features both whole ownership and timeshare interest ownership is a mixed-use resort. This type of resort integrates various forms of property ownership, allowing for a diverse range of occupancy options. In a mixed-use resort, whole owners may have exclusive rights to their unit year-round, while timeshare owners may have designated weeks or periods during which they can use their unit. This combination facilitates a broader range of use and investment opportunities at the property. Unlike fractional ownership resorts, which specifically focus on dividing ownership among multiple owners for a single unit over a set timeframe, mixed-use resorts offer a more varied ownership structure. Exclusive use resorts emphasize singular ownership without sharing, and shared ownership resorts can refer to arrangements more concerned with equal time-sharing rather than outright ownership. Thus, the characteristic of accommodating both whole and timeshare interests categorizes it specifically as a mixed-use resort.