What is maximum paid from Nevada Recovery Fund per judgment?
Question & Answer
Review the question and all answer choices
$10,000
The $10,000 option is incorrect as it represents a lower figure than Nevada's actual Recovery Fund limit. This might confuse students with states that have lower recovery limits.
$25,000
$50,000
The $50,000 option is incorrect as it exceeds Nevada's actual limit. Students might confuse this with other states' recovery fund limits or aggregate coverage amounts.
$100,000
The $100,000 option is incorrect as it represents a significantly higher amount than Nevada's actual limit. This might be confused with coverage limits in other professional liability contexts.
Why is this correct?
Nevada Revised Statutes Chapter 645D specifically limits the maximum payment from the Real Estate Recovery Fund to $25,000 per judgment. This cap protects the fund while providing some recourse to consumers.
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