Download Hawaii Real Estate Exam 2025 | Featuring Hawaii-Specific Real Estate Laws and Licensing and more Exams Real Estate Management in PDF only on Docsity!
Hawaii Real Estate Exam 2025 | Featuring Hawaii-Specific Real
Estate Laws, Licensing Requirements, Agency Relationships,
Land Use Regulations, Time-Share Laws, and Escrow
Procedures | Just Released
Marcus believes that the board of directors is unfairly applying portions of the cooperative's bylaws to him because he's a vocal shareholder. Based on HRS 421- I9, which of these is true about the options Marcus has? a.)He may be able to file a lawsuit without going through mediation or arbitration. b.)He must first file a formal grievance with the board. c.)He must first submit his complaint to arbitration. d.)He must submit to mediation. ---------CORRECT ANSWER-----------------d.)He must submit to mediation. In Hawaii, a verbal lease agreement for which of these terms would NOT be enforceable? a.)A month-to-month tenancy b.)An 18-month fixed-term lease c.)A six-month fixed-period lease. d.)A weekly rental ---------CORRECT ANSWER-----------------b.)An 18-month fixed- term lease Hannah qualifies for a Hawaii County homeowner exemption. She owns her residence and has had it outfitted with ramps, wide doorways, and lowered counters since she's disabled. What else must be true of Hannah?
a.)She's a full-time resident of Hawaii. b.)She's a registered voter. c.)She's at least 65. d.)She's legally blind. ---------CORRECT ANSWER-----------------a.)She's a full-time resident of Hawaii. If a Hawaii company forfeits its real estate license, how long does the company have to restore it before the license is terminated? a.)30 days b.)90 days c.)One year d.)Six months ---------CORRECT ANSWER-----------------c.)One year Krishna notified her landlord that the front door of her condo won't latch and lock. Her storm/security door works, but she'd like the added security of the inside door lock, too. On his way to repair the lock, the locksmith was involved in an accident. According to Hawaii statutes, what's the landlord's primary responsibility here? a.)Hire a new locksmith. b.)Notify Krishna when the locksmith is on his way to make the repair. c.)Provide Krishna with a reasonable estimated repair date. d.)Repair the lock himself. ---------CORRECT ANSWER-----------------c.)Provide Krishna with a reasonable estimated repair date.
a.)Buyer pays all recording fees, title insurance, and loan fees. b.)Buyer pays FIRPTA/HARPTA, lender's title insurance, and loan fees. c.)Seller pays FIRPTA/HARPTA, buyer's title insurance, and conveyance taxes. d.)Seller pays lender's title insurance, FIRPTA/HARPTA, and fees for recording the new deed. ---------CORRECT ANSWER-----------------c.)Seller pays FIRPTA/HARPTA, buyer's title insurance, and conveyance taxes. What disclosure appears in Section R, Brokerage Firms Services and Disclaimers, of the HAR Purchase Contract? a.)Affiliated business relationships b.)Brokerage relationships c.)Licensee's ownership interest d.)Licensing status in listed property transaction ---------CORRECT ANSWER---------- -------d.)Licensing status in listed property transaction Toni purchased a fee simple property in Hawaii. Her deed is recorded in Hawaii's regular system. What can she do to ensure she has sole ownership of the property? a.)File a Hawaii quiet title suit. b.)Purchase title insurance. c.)Submit the property to Hawaii Land Court. d.)Submit the property to the Bureau of Conveyances. ---------CORRECT ANSWER-- ---------------c.)Submit the property to Hawaii Land Court.
Martina, a Hawaii escrow officer, often works with Paul, a broker who is representing Kelly, a seller. Kelly's buyer submits an earnest money deposit, which Paul then submits to Martina. The parties get into a contract dispute. Which of these statements best describes how Martina must handle the earnest money? a.)She must release the funds based on instructions from Paul. b.)She must release the funds based on instructions from the buyer. c.)She must release the funds based on instructions from the seller. d.)She must release the funds based on the contract and escrow instructions. ----- ----CORRECT ANSWER-----------------d.)She must release the funds based on the contract and escrow instructions. Which of these statements about foreclosures is TRUE? a.)Lenders are prohibited from filing for deficiency judgments in Hawaii foreclosures. b.)Mortgage lenders who use a judicial foreclosure process are required to file for a deficiency judgment. c.)Owners foreclosed on for nonpayment of property taxes have a one-year statutory right of redemption. d.)Owners have an equitable right of redemption and may redeem their property by making all outstanding payments and paying all fees up until the day of the foreclosure sale. ---------CORRECT ANSWER-----------------c.)Owners foreclosed on for nonpayment of property taxes have a one-year statutory right of redemption.
Select the statement that best defines the phrase "standard of care"? a.)A set of actions defined by each sponsoring broker that is applied in the same way to every situation and client b.)The level of care expected from someone within the profession, and which a reasonable person would apply to a particular situation or set of circumstances c.)The level of care that any reasonable person would use, with or without professional knowledge d.)The specific actions that constitute negligence, misrepresentation, or fraud on the part of a fiduciary in a real estate transaction ---------CORRECT ANSWER--------- --------b.)The level of care expected from someone within the profession, and which a reasonable person would apply to a particular situation or set of circumstances As late as the 1960s, a significant portion of Hawaii lands were leasehold rather than fee simple. The Land Reform Act of 1967 provided for ______. a.)Leasehold continuation b.)Leasehold tenure c.)Mandatory leasehold conversions through condemnation d.)Voluntary leasehold purchase ---------CORRECT ANSWER----------------- c.)Mandatory leasehold conversions through condemnation Which of the following actions would NOT be considered a violation of fair housing law in Hawaii?
a.)Failing to provide accessible entrances and common areas in a new multi- family dwelling b.)Implying in a listing advertisement that a property is more appropriate for persons without a disability c.)Refusing to allow a person with a disability to make reasonable modifications deemed necessary for full enjoyment of the property at the tenant's own expense d.)Requiring that a person with a disability who made reasonable modifications to the property restore it to its original condition (excluding normal wear and tear). - --------CORRECT ANSWER-----------------d.)Requiring that a person with a disability who made reasonable modifications to the property restore it to its original condition (excluding normal wear and tear). Katerina places a campaign sign in the yard of her leased house supporting her choice of candidate. Her landlord sends her a notice requiring her to remove the sign. Is this legal? a.)No, because Hawaii laws expressly permit her to place such a sign. b.)No, unless she receives express permission from the association and her neighbors. c.)Yes, if her neighbors complain about the sign. d.)Yes, if the bylaws state no political signs are permitted. ---------CORRECT ANSWER-----------------a.)No, because Hawaii laws expressly permit her to place such a sign In Hawaii, who's required to take 80 hours of prelicensing education and pass a licensing exam with a score of 75% or higher? a.)Brokers
d.)Yes, if the rental agreement was for a period of less than a year. --------- CORRECT ANSWER-----------------a.)No, because Christian didn't complete the inventory of property condition. In which of these circumstances would the landlord be required to begin repairs within three business days of being notified of the issue? a.)Sparks fly from the kitchen light every time it's turned on. b.)The kitchen sink won't drain. c.)The oven doesn't operate correctly. d.)There's a small plumbing leak under the kitchen sink. ---------CORRECT ANSWER-----------------a.)Sparks fly from the kitchen light every time it's turned on. Spencer qualifies for a Maui County homeowner exemption. He occupies his residence 10 months out of the year and has lived there for the last four years. What else must be true of Spencer? a.)He didn't rent it out for the two months he lived elsewhere. b.)He's a registered voter. c.)He's disabled. d.)He's married. ---------CORRECT ANSWER-----------------a.)He didn't rent it out for the two months he lived elsewhere. Makoa has received an offer on his Oahu property, but the buyers have to sell their current home before they can afford to purchase his home. He doesn't like
this. What if another offer comes in that doesn't have a sale contingency? How can he protect himself? a.)Include a kick-out clause in the sales contract b.)Not list the property as pending c.)Offer to buy the buyer's home d.)Require a non-refundable earnest money deposit ---------CORRECT ANSWER----- ------------a.)Include a kick-out clause in the sales contract For home sellers, which of the following is a benefit of the seller's property disclosure statement? a.)It forces the seller to make home repairs they would otherwise have avoided. b.)It gives sellers the right to conceal material facts and known defects about the home for sale. c.)It provides the seller with protection against liability and potential legal action. d.)It removes transparency from the process, making the sale easier for the seller. ---------CORRECT ANSWER-----------------c.)It provides the seller with protection against liability and potential legal action. Prior to selling a Hawaii home, sellers must provide a signed and dated statement that discloses any material facts concerning their property, including known environmental issues. How many days after the buyer signs the purchase contract does the seller have to provide this disclosure? a.) b.) c.)
D.) The seller makes no guarantee regarding the property's future resale value ---- -----CORRECT ANSWER-----------------D.) The seller makes no guarantee regarding the property's future resale value In which of these situations does a Hawaii licensee have a disclosable ownership interest in the property? a.) Carson represents both the buyer and the seller in a transactions. b.) Kennedy is representing his LLC in the purchase of a commercial building. c.)Rebecca is listing her neighbor's vacation home. d.) Roger is listing a property that he sold to the current owner eight years ago. --- ------CORRECT ANSWER-----------------b.) Kennedy is representing his LLC in the purchase of a commercial building. **Jeanine sold her Kihei duplex to Carlton for $418,000, and closing is on May 16. Each unit rents for $530 per month. The tenants paid rent in full on May 1. At closing, how will prorated rent be shown on the closing statements? a.)$494.66 seller credit, buyer debit b.)494.66 seller debit, buyer credit c.)$565.33 seller credit, buyer debit d.)$565.33 seller debit, buyer credit ---------CORRECT ANSWER----------------- b.)494.66 seller debit, buyer credit
Lily owned a double lot on the waterfront. She sold the lot to Hannah and placed a private restriction prohibiting anything taller than a one-story building. Hannah wants to build a three-story house. What is her most likely option? a.)Apply to the zoning board of appeals for a variance. b.)Check to see if the building and zoning regulations will permit a larger house. c.)Conform to the deed restriction. d.)File suit against Lily to have the restriction removed. ---------CORRECT ANSWER- ----------------c.)Conform to the deed restriction. Hawaii's laws around consent require that Hawaii contracts be signed without undue influence or duress. Which of these situations is an example of duress? a.)Lokelani cries and acts as if she's distraught over her mother's safety to get her mother to move out of the family home. b.)Lono describes to his mother the reasons that her property won't sell for as much as she thinks it should. c.) Maik shows her grandmother information from properties that really aren't comparable to hers to convince her to sell the property at a reduced price. d.) Nalani threatens to expose a family secret if Oke refuses to agree to sell their house. ---------CORRECT ANSWER-----------------d.) Nalani threatens to expose a family secret if Oke refuses to agree to sell their house.
For the real estate industry, what's the primary impact of the PASH decision? a.)It prohibits private property owners from disallowing access to their shoreline properties. b.)The ambiguous nature of the decision places into question what access property owners can and can't prohibit. c.)The strict enforcement regulations contained in the decision make it difficult for property owners to protect their access rights. d.)Title companies are prohibited from excluding claims related to traditional native gathering rights. ---------CORRECT ANSWER-----------------b.)The ambiguous nature of the decision places into question what access property owners can and can't prohibit. In Hawaii, which of these conditions would qualify a domestic violence victim for early release from a lease? a.)The victim has abandoned the property. b.)The victim is a member of protected class. c.)The victim provides documentation from the courts or the police. d.)The victim submitted the request to terminate the lease in writing. --------- CORRECT ANSWER-----------------c.)The victim provides documentation from the courts or the police. Jasmine's client presented her with an earnest money check on Friday evening. By when must Jasmine deliver the check to the escrow company?
a.)The next business day b.) The next day c.)Within three business days d.)Within two business days ---------CORRECT ANSWER-----------------a.)The next business day Which of these statements about the Hawaii property disclosure form and distressed or short sale properties is FALSE? a.)Jenson is selling his condominium to his son. He's not required to provide a seller's property disclosure form. b.) Jonah must disclose the amount of his mortgage loan when selling the property as a short sale. c.)Mark, the trustee in a bankruptcy proceeding is selling a home. Mark isn't required to provide a disclosure form. d.) Oahu Bank and Trust is selling a property acquired through foreclosure. The lender is required to provide a seller's property disclosure form. ---------CORRECT ANSWER-----------------d.) Oahu Bank and Trust is selling a property acquired through foreclosure. The lender is required to provide a seller's property disclosure form. Certain exemptions to Hawaii and federal fair housing laws exist. Which of these is most likely to be considered discrimination? a.)Jeanine refused to rent the basement of a home she doesn't live in to a woman of African descent. b.)Kevin refused to rent half of a duplex next to a family with three small children.
In Hawaii, a certificate of title showing land ownership is recorded at the ______. a.)Bureau of Conveyances b.)Department of Records c.)Maui's Department of Records d.)Real Estate Commission ---------CORRECT ANSWER-----------------a.)Bureau of Conveyances Kelsey transferred ownership of a house to her ex-husband, Jon, in a divorce proceeding. The transfer wasn't recorded. Kelsey then "sold" this same house to Jenny, who did record the signed deed. Which of these statements is true? a.)Jenny is the legal property owner. b.)Jon is the legal property owner. c.)Jon must register his interest in the property through the Land Court to attempt to gain title. d.)Kelsey was within her rights to sell the property to Jenny since the first conveyance wasn't recorded. ---------CORRECT ANSWER-----------------a.)Jenny is the legal property owner. A "legally competent party" in Hawaii, according to contract law, is a party who has the ______ to enter into a contract. a.)Financial resources b.)Legal and mental capacity
c.)Legal background d.)Motivation and means ---------CORRECT ANSWER-----------------b.)Legal and mental capacity Which of these most succinctly defines standards of care? a.)Competence b.)Customer service c.)Empathy d.)Honesty ---------CORRECT ANSWER-----------------a.)Competence Which of these best describes the purpose of Hawaii's Land Reform Act? a.)Commoners (kanaka) were permitted to apply for title to Kuleana land through the Land Commission. b.)Government and Crown Lands were combined. c.)Leasehold properties could be converted to fee simple properties through eminent domain. d.)The Crown Lands were transferred to the State of Hawaii. ---------CORRECT ANSWER-----------------c.)Leasehold properties could be converted to fee simple properties through eminent domain. In relation to a Hawaii Agreement of Sale (land contract), the buyer is referred to as the _____. a.)Payee
