Nevada License Law
What is the Nevada requirement for a licensee's 'competence' when handling a type of transaction outside their experience?
AAny licensee can handle any transaction as long as they try their best
BNevada licensees must have the knowledge and skills to competently serve clients or must associate with or refer to someone who does — taking on transactions beyond their competence is an ethics and license law violation✓ Correct
CCompetence is only required for commercial transactions
DLicensees can practice any transaction type after their first year
Explanation
NRS 645 and the REALTOR® Code of Ethics require Nevada licensees to be competent for the specific transaction type. If a residential agent is asked to handle a complex commercial lease or exchange, they must either develop the necessary competence or refer the client to a specialist.
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