ExpressionEngine no_results not working

You'll have to add

require_entry="yes"

to your second loop in order for the no results to work.

See the docs here http://expressionengine.com/user_guide/modules/channel/channel_entries.html#require-entry

Since you mentioned in the comments that you are using Stash, this following should get no_results working as expected. I've just tested this and it works for me.

Download the beta version of Stash here https://github.com/croxton/Stash/tree/dev (currently v2.3.5).

See the documentation on no_results_prefix on the GitHub page.

You did not show the surrounding Stash tag that wraps your template code, but assuming it is a stash:set tag, update your template something like this:

{exp:stash:set name="page_content" no_results_prefix="stash"}    <div class="row-fluid">        <div class="span12">            [...]            <h3>Answer to selected question</h3>            {exp:channel:entries channel="faqs" dynamic="yes" require_entry="yes" limit="1"}                {!-- note prefix, which was defined in outer stash:set tag --}                {if stash:no_results}                     <p>Click a question above to see the answer here</p>                {/if}                {answer}            {/exp:channel:entries}         </div>        </div>{/exp:stash:set}

I reported this to EllisLab as a bug. It is definitely not working as it should. https://support.ellislab.com/bugs/detail/21106