Download Hawaii Real Estate Exam Prep: Questions & Solutions 2025 and more Exams Real Estate Management in PDF only on Docsity!
STATE EXAMINATION FOR HAWAII
REAL ESTATE QUESTIONS AND
SOLUTIONS 2025 LATEST REVISED
GRADED 100% PASS.
At what point do obligations under the Landlord/Tenant Code End: A) The tenant vacates B) The tenant and Landlord resolve disbursement of the security deposit C) The tenant stops paying rent D) The landlord quits - Precise answer A) The tenant vacates What minimum % of condominium owners must vote to change the By- Laws: A) 50% B) 51% C) 65% D) 67% - Precise answer D) 67% An owner has a mortgage for $50,000 at 9% for 30 years with monthly payments of $403 per month. What is true of this loan? A) $135,000 is the interest of he loan B) $27 is the principal paid on the 1st payment only C) $28 is the interest paid on the 1st payment only D) $403 is applied to principal on the 1st payment - Precise answer C) $ is the interest paid on the 1st payment only Nam the proper order of TMK designations beginning with the largest to the smallest areas A) Division, Zone, Section, Plat, Parcel B) Zone, Division, Plat Section, Parcel C) Section, Division, Parcel, Zone, Parcel
D) CPR, Parcel, Plat, Section, Zone - Precise answer A) Division, Zone, Section, Plat, Parcel Tenant tells landlord about major roof leaks and landlord does nothing. Which of the following is true: A) Constructive eviction B) Actual eviction C) Demand eviction D) Demand for damages - Precise answer A) Constructive eviction A licensee has paid the renewal fee by Nov. 30 of an even year but did not take the 20 hours of CD classes. Which of the following is true: A) License is forfeited B) License is inactive C) License is active D) License is suspended - Precise answer B) License is inactive A Hawaii property owner can redeem his property within one year after which of the following: A) A real property tax sale B) A foreclosure sale C) Short sale D) Deed in lieu of foreclosure - Precise answer A) A real property tax sale Special Management Area regulations are concerned the least with A) Erosion of sand or dirt B) Preserving the beauty of the oceanfront areas C) Shoreline access to the public D) Quality of the drinking water - Precise answer D) Quality of the drinking water One who engages another to act for him under a contractual agreement is referred to as: A) Principal B) A grantor
C) He can file liens because the Notice of Completion was never filed/published D) He cannot file because the contractor can only look to the developer for payme - Precise answer A) He can file liens because the date of the Notice of Completion Deemed to be one year from the actual completion date The landlord is required to provide which of the following for his tenants when converting an apartment under the Condominium Property Regime Act: A) Give 120 days notice B) Give 10 days notice C) Provide suitable housing for tenants D) Pay for relocation - Precise answer A) Give 120 days notice Which of the following is true regarding FIRPTA and HARPTA A) Foreigners must have 10% of the "amount realized" withheld B) U.S. citizens that are not Hawaii residents must have 10% of the "amount realized" withheld C) Military personnel that sell a house must have 5% withheld D) Escrow is responsible to collect the 10% nd 5% from the seller - Precise answer A) Foreigners must have 10% of the "amount realized" withheld Under the Food Funds Act, buyer's deposits must be: A) Given to escrow 5 calendar days before the closing date B) Given to escrow 2 business days before the closing date and must be wired funds or cashier's check and clear the banks before the closing date C) Can be drawn on a mainland bank before the closing date D) Can be a personal check 3 days before the closing date - Precise answer B) Given to escrow 2 business days before the closing date and must be wired funds or cashier's check and clear the banks before the closing date Sales agent decides to change Real Estate firms. The Change Form-Real estate must be forwarded to the Professional Vocational License division for the change to be effective. Who will be required to sign the Change Form-Real Estate?
A) Sales agent only B) Sales agent and present Broker only C) Sales agent and future Broker only D) Sales agent and both the present Broker and future Broker - Precise answer D) Sales agent and both the present Broker and future Broker An appraiser finalizes value estimates at which of the following stages of an appraisal: A) When he gathers, records and verifies the data B) When he performs direct sales comparisons C) When he analyzes and interprets data D) When he reconciles the data - Precise answer D) When he reconciles the data Which of the following qualifies for a Hula Mae loan: A) Mortgage on a home wiht 35 years remainin on the lease with 5 years fixed lease payments B) Mortgage on a home with 50 years remaining on the lease with 10 years fixed lease payments C) A divorcee who sold her home 2 years ago D) A borrower who has used Hula Mae loan in the past - Precise answer B) Mortgage on a home with 50 years remaining on the lease with 10 years fixed lease payments A blanket mortgage usually covers which of the following: A) More than one piece of real estate B) Both personal and real property C) More than one type of transaction D) Both the mortgaged property and the appropriate mortgage insurance - Precise answer A) More than one piece of real estate Which of the following is correct regarding the Hawaii usury law? A) Is limited to 1% per month on the interest rate B) The banks and credit unions cannot charge more than 16% per year C) The seller who provides owner financing are subject to the 12% limit
C) Both A and B D) None of the above - Precise answer C) Both A and B The amount of deposit under the Landlord Tenant Code which a lessee may pay: A) Cannot exceed one month's rent B) Is considered to be the property of the lessor during the term of the lease C) Both A and B D) None of the above - Precise answer A) Cannot exceed one month's rent A licensee is entitled to a hearing when the licensee is: A) Suspended B) Terminated C) Both A and B D) None of the above - Precise answer C) Both A and B A check for earnest money deposit may be made payable to which of the following: A) The salesperson who showed the property B) The Broker's Client Trust Account with whom the property is listed C) Both A and B D) Seller's broker's working capital account - Precise answer B) The Broker's Client Trust Account with whom the property is listed Escrow calls the agent and says they can close early and are ready. In preparation to close: A) The seller and the buyer must sell a date B) The lessor must give permission (if it is lease land) C) Escrow and mortgage documents must be ready for signature D) All of the above - Precise answer D.) all of the above Hula Mae loans are made directly by: A) Hawaii Housing Authority (HHA)
B) State Retirement Systems C) Participating Local banks and Savings and Loans D) City and County Housing Department - Precise answer C) Participating Local banks and Savings and Loans In appraisals, the three approaches to value are: A) Capitalization, market data, income B) Cost, income, reproduction C) Cost, replacement, income D) Replacement, income, market data - Precise answer D) Replacement, income, market data The owner hires a salesperson to manage his apartments. Who is the management agreement with? A) Owner and Broker B) Owner and salesperson C) Salesperson and the Broker D) Broker and the tenant - Precise answer A) Owner and Broker A general plan of the State of Hawaii has designated four land use districts. They are Conservation, Agricultural, Urban and: A) Commercial B) Resort C) Industrial D) Rural - Precise answer D) Rural In the Landlord Tenant Code, all claims for security deposits have to be settled in: A) Small Claims Court B) Circuit Court C) District Court D) Federal Court - Precise answer A) Small Claims Court The Real Estate Commission may revoke or suspend a license for which of the following:
B) He must designate an experienced salesperson to be temporarily in charge C) The replacement broker must be from the same real estate firm D) No replacement broker is needed as long as someone is supervising the agents - Precise answer A) He must notify the Real Estate Comission in writing of his absence All of the following are true except A) Agents changing brokers have 12 days to notify the DCCA B) An agent can change the first and middle name with a change form C) Agents who change their residence have 10 days to notify the DCCA D) Brokers must sign off an agent who requests to be released from their firm within 10 days of receiving the request - Precise answer C) Agents who change their residence have 10 days to notify the DCCA Which of the following is true regarding the Mortgage Fraud Prevention Act: A) Agents can receive a deposit from the debtor to negotiate a loan modification with the lender B) Agents who list the property that is a short sale cannot purchase his own listing for one year after the listing has expired. C) Agents can tell the debtor to stop making mortgage payments to force the lender to negotiate a loan modification D) Agents must be a Certified Distressed Property Expert before he can help a debtor who is back on his mortgage payments - Precise answer B) Agents who list the property that is a short sale cannot purchase his own listing for one year after the listing has expired. Under the Ohana Law: A) All major building improvements have to be covered by a building permit B) Major building improvements do not have to be covered by a building permit C) The state approved the eligible Ohana areas D) The neighborhood board determines the eligible Ohana areas - Precise answer A) All major building improvements have to be covered by a building permit
All but one of the following are entitled to receive a commission on the sale or rental of real estate: A) Travel agent booking a rental of a house or condominium B) Licensed real estate brokers in another state in the USA C) Referral agent who is not active in real estate sales D) Mortgage broker who gets a referral fee for introducing buyers to agents
- Precise answer D) Mortgage broker who gets a referral fee for introducing buyers to agents Lava from Kilauea continues to flow into the Pacific Ocean thus adding acreage to your property. Who owns the increase in ocean front property? A) County of Hawaii B) Owner of property C) Present occupants of the property D) State of Hawaii - Precise answer D) State of Hawaii Which of the following conditions is not correct regarding adverse possession? A) Must be less than 5 acres B) Land court property can be taken by adverse possession C) Land that is encroached upon cannot be taken by adverse possession D) The property must have been in use by a non-owner for 20 years or more - Precise answer B) Land court property can be taken by adverse possession A real estate Broker has an obligation to: A) Give copies of all documents to all parties at the time they sign B) Sign documents pertaining to real estate transactions C) Give the documents to escrow at the time of recordation D) Keep the documents in a file and wait till the transaction is recorded - Precise answer A) Give copies of all documents to all parties at the time they sign Owner "L" has a condo mortgage with lender "M". "L" sells the condo on an Agreement of Sale. The vendee then fails to make maintenance payments. The Owner's Association can bring lien proceedings against:
A) Robert Torrens is the Australian who introduced the system to Hawaii B) Adverse possession is allowed on land court property C) The state does not guarantee good title to land court property D) Land court registration system started with the Great Mahele - Precise answer A) Robert Torrens is the Australian who introduced the system to Hawaii The county Government agency that makes a preliminary determination of non-conforming building structure is: A) A zoning board B) A building department C) The city council D) The Land Utilization Department - Precise answer B) A building department Who is eligible for Hawaii Employees Retirement System loans: A) Qualified persons of the system B) State employees only C) Retired employees only D) Blood relative of State employees - Precise answer A) Qualified persons of the system In completing a listing, a Broker would obtain reliable information from: A) Tax Office B) Owner of property C) Real Estate Commission D) Bureau of Conveyances - Precise answer D) Bureau of Conveyances A person may begin practicing real estate when: A) He is certified by an accredited school for completing the salesperson course B) He receives notice in the mail that he has passed the licensing examination C) He receives written notice from the Real Estate Commission with the license number
D) When the Commission receives notice that he has passed the licensing examination - Precise answer C) He receives written notice from the Real Estate Commission with the license number There are two closings for an Agreement of Sale transaction one for possession, one for title. What charge is not included in both closings? A) Escrow cost B) Title search C) Conveyance tax D) None of the above - Precise answer C) Conveyance tax How long should a broker keep transaction documents? A) 2 years B) 3 years C) 10 years D) There is no requirement - Precise answer B) 3 years A Broker is guilty under the Hawaii Anti-Discrimination Act if he: A) He refuses to rent to people with children B) He attempts to talk a person out of buying property because of the person's low income C) He refuses to rent to military D) He refuses to rent to hippie musicians - Precise answer B) He attempts to talk a person out of buying property because of the person's low income A lot that is zoned Rural has a neighbor whose wall is encroaching into the subject property. What is the allowable distance for Rural zoned lots? A) 1.5 feet B) 0.75 feet C) 0.5 feet D) 0.25 feet - Precise answer B) 0.75 feet Tenants by the Entirety are applicable to which of the following: A) Unmarried man and woman who live together for 40 years and have children
