Download Hawaii Real Estate Exam State Only Guide questions with verified answers 2025 Qs A proje and more Exams Nursing in PDF only on Docsity!
Hawaii Real Estate Exam State Only Guide
questions with verified answers 2025
Qs A project may be removed from the CPR by what vote? - n ANS✔ Agreement of the unit owners of 80% of the common interest. Qs T or F: Individual condo unit owners may insure their units separately. - n ANS✔ True. Qs T or F: A homeowner exemption on real property taxes is not available on condominiums.
- n ANS✔ False. Qs T or F: Real property taxes are assessed on the entire project and prorated according to each unit owner's percent of common interest. - n ANS✔ False. Qs
Ownership of a cooperative apartment is by way of: - n ANS✔ a proprietary lease. Qs One feature of ownership shared by condominiums and co-op regarding land is: - n ANS✔ Ownership of the land itself may be leasehold or fee simple. Qs What is a higher density development with smaller lots, closer dwellings and recreational space set aside for the use of all owners and tenants? - n ANS✔ Planned Development Housing. Qs T or F: The members of a board of directors of a condominium and a real estate licensee both have a fiduciary duty to their association or principal. - n ANS✔ True. Qs T or F: The members of a board of directors of a condominium and a real estate licensee are both empowered to make major decisions on behalf of their association or principal. - n ANS✔ False. They both have a fiduciary duty to their association or principal.
False. Qs T or F: When converting an existing rental property to a condominium under the anti- discrimination laws, the tenants have no greater rights than the general public to purchase the units. - n ANS✔ False. Qs According to time share law, when a prospect is given a gift to induce him to attend a time share presentation, the presenter must give the gift to the prospect when? - n ANS✔ prior to or at the beginning of the presentation. Qs The priority of a mechanic's lien depends on the: - n ANS✔ date on which work commenced. Qs What or who ultimately determines the seaward property line of an oceanfront property in Hawaii? - n ANS✔ Upper reaches of the wash of the waves. Qs
If a contractor skipped town and did not pay the roofer for his work, the roofer could file:
- n ANS✔ a mechanic's lien Qs Once a materialman's lien has been paid off, what should the owner do: - n ANS✔ File a satisfaction of lien Qs T or F: A mechanic's lien filed for record today for work commenced two weeks ago has priority over a mortgage filed five days ago. - n ANS✔ True. The priority of a mechanic's lien depends on the date on which work commenced. Qs T or F: A mechanic's lien filed for record today for work commenced two weeks ago has priority over a second mortgage recorded three days ago. - n ANS✔ True. The priority of a mechanic's lien depends on the date on which work commenced. Qs T or F: A mechanic's lien filed for record today for work commenced two weeks ago has priority over an unrecorded mortgage that was given three months ago. - n ANS✔ True. The priority of a mechanic's lien depends on the date on which work commenced.
Qs T or F: In Hawaii an easement of necessity is created any time a parcel of land becomes landlocked by subdivision. - n ANS✔ False. Qs T or F: In Hawaii an easement of necessity will not be granted to a landlocked dominant estate. - n ANS✔ True. Qs T or F: In Hawaii an easement of necessity will be created only when agreed to by all the adjacent property owners. - n ANS✔ False. Qs T or F: In Hawaii an easement of necessity will be created any time a parcel of land does not have access to a public road. - n ANS✔ False. Qs T or F: A property owner who resides out of state is exempt from the rules regarding invasive species. - n
ANS✔
False. Qs T or F: If a plant that has been declared an invasive species is found growing on private property, the appropriate government agency may enter the property to control or eradicate the offending plant after reasonable notice is given to the property owner. - n ANS✔ True. Qs T or F: Regarding a judgment lien in Hawaii, the encumbrance on the property is removed when the debt is paid, the debtor files a satisfaction of lien and the satisfaction of lien is recorded. - n ANS✔ True. Qs T or F: Regarding a judgment lien in Hawaii, in order to be effective the lien must be recorded with reference to a specific piece of real property. - n ANS✔ True. Qs T or F: Regarding a judgment lien in Hawaii, the statutory time limit for a judgment lien is 10 years. - n ANS✔ True.
True. Qs The duties that live forever after termination of an agency relationship are the duties of: - n ANS✔ confidentiality and accounting Qs Land ownership documents are recorded in the public record at - n ANS✔ Bureau of Conveyances in Honolulu Qs The land classification containing the smallest amount of land state-wide is - n ANS✔ Rural Qs A division of land extending from the top of the mountain to the ocean is called - n ANS✔ Ahupua'a Qs A husband or wife may claim a 1/3 elective share of the other's estate at the decedent's death under what code? - n ANS✔
Under Hawaii's Uniform Probate Code for properties sold after July 1, 1977. Qs Under Hawaii's Uniform Probate Code, how much can a spouse claim at the decedent's death? - n ANS✔ 1/3 elective share for properties sold after July 1, 1977. Qs Jackson Hillario exercised his right of election when his wife died and left everything to her ex- husband. Will he receive real, personal, or nothing, or both? How much? - n ANS✔ a portion of both her real and personal property, depending on how long they were married. Qs At least one member of the board of directors of a Hawaii corporation must be: - n ANS✔ a resident of Hawaii. Qs T or F: A benefit of placing real property in a land trust may be that it avoids ancillary probate for non-residents. - n ANS✔ True. Qs
Qs T or F: In Hawaii a partnership which participates in real estate dealings as part of its business must have all members of the partnership licensed, with one as a licensed broker in charge of the brokerage business. - n ANS✔ False. It must have an individual licensed broker designated as the principal broker of the brokerage business. Qs T or F: In Hawaii a partnership which participates in real estate dealings as part of its business must have all persons involved in the brokerage aspects of the business licensed as brokers. - n ANS✔ False. It must have an individual licensed broker designated as the principal broker of the brokerage business. Qs T or F: In Hawaii a partnership which participates in real estate dealings as part of its business must have a licensed broker to supervise the licensed salespersons but anyone who is licensed as a broker may operate independently on behalf of the partnership. - n ANS✔ False. It must have an individual licensed broker designated as the principal broker of the brokerage business. Qs What Hawaii state law aims to protect purchasers of subdivided vacant lots from deceptive practices and abuses? - n ANS✔ Uniform Land Sales and Practices Act (ULSPA)
Qs A prospectus of possible house plans that can be built on the site is: - n ANS✔ a public offering statement Qs How many days must the subdivider give the prospective purchaser to review the public offering statement? - n ANS✔ Seven Qs T or F: If the developer does not provide a public offering statement to each buyer of non- exempted subdivided land, the Director may issue a cease and desist order, stop sales, and revoke the registration. - n ANS✔ True. Qs Early in the process of developing a condominium the Commission will examine the project and issue: - n ANS✔ An effective date for the public report. Qs T or F: The declaration of a condominium development would contain a description of the land on which it is to be built. - n
T or F: Regarding condominiums under HRS 514B, liens may attach to common elements.
- n ANS✔ False. Under HRS 514B owners have equal rights to usage of the common elements. Qs T or F: Regarding condominiums under HRS 514B, the land is considered a limited common element. - n ANS✔ False. Under HRS 514B owners have equal rights to usage of the common elements. Qs If Sally purchases a "vacation license," she is buying a: - n ANS✔ Time share unit Qs T or F: An individual owner in a condominium can normally attend annual owners association meetings. - n ANS✔ True. Qs According to the time share law, an exchange agent is a person who: - n ANS✔ operates an exchange program. Qs
T or F: Time share acquisition agents who are not licensed as sales persons must be registered with the Commission as a time share acquisition agent. - n ANS✔ True. Qs T or F: Time share acquisition agents who are not licensed as sales persons must be licensed as a real estate salesperson or broker. - n ANS✔ False. Qs A mutual right to cancel by either buyer or seller is: - n ANS✔ TS7-RoR...time share 7 day right of recision. Qs T or F: The time share 7 day right of recision must be written, oral, and clearly stated. - n ANS✔ True. Qs A parking stall would be a good example of what kind of element in a condominimum? - n ANS✔ A limited common element. Qs
Qs T or F: A salesman who is an independent contractor should file estimated quarterly income taxes. - n ANS✔ True. Qs T or F: A salesman who is an independent contractor should adhere without exception to the broker's schedule for floor duty, prospecting, and open houses. - n ANS✔ False. Qs Kama'aina Kokua Realty has entered into signed agency agreements with both Seller A and Buyer B. Buyer B is interested in purchasing Seller A's property. Is Kama'aina Kokua Realty allowed to facilitate this transaction? - n ANS✔ Yes, if both Buyer and Seller give their written consent to the dual agency. Qs T or F: A general agent has broad authority to act on behalf of his principal, while a specific agent is authorized only to perform specific tasks for his principal. - n ANS✔ True. Qs In order to enter into a legally enforceable contract in Hawaii, a person must be at least how old? - n ANS✔
18 years old Qs A special relationship of trust, confidence and responsibility between an agent and his principal is known as: - n ANS✔ a fiduciary relationship. Qs Agent A has been working with Buyer B for three months - showing her property, arranging for her to be prequalified by a lender, and writing up one offer that was rejected by the seller. Agent A and Buyer B have never addressed representation, either orally or in writing. What type of agency does agent A have with agent B? - n ANS✔ implied agency. Qs T or F: Prior to presenting an offer to an unlisted seller (FSBO), the broker must disclose to the seller whether the broker represents the buyer or the seller. - n ANS✔ True. Qs T or F: Per the Hawaii Statute of Frauds, a buyer agency agreement is unenforceable if not in writing and signed by both parties. - n ANS✔ True. Qs
