Nevada Timeshare License Practice Exam

Where must fees collected for investigative work prior to issuing a permit or license be deposited?

1. State education fund

2. General fund

3. Real estate investigative account

4. Local housing authority

The correct answer is: Real estate investigative account

Fees collected for investigative work prior to the issuance of a permit or license must be deposited into the real estate investigative account. This account is specifically designated for handling funds that are associated with the costs incurred during the investigation process for real estate licensing. The rationale behind this requirement is to ensure that the funds are used appropriately to support the regulatory activities aimed at maintaining standards and integrity within the real estate market. By directing these fees into a specialized account, it allows for transparency and accountability in the use of funds for investigative purposes, ensuring that the regulatory body can effectively manage and oversee the licensing process. The other choices do not serve this specific purpose. The state education fund and the general fund would typically cover broader governmental expenses, while the local housing authority focuses on issues concerning local housing developments, rather than the specific investigative functions tied to licensing within real estate. Therefore, only the real estate investigative account aligns with the intention of collecting fees for investigative work related to permits and licenses.