Hawaii Real Estate Exam

Carson and Vivianne are in negotiations for Vivianne's purchase of Carson's Hawaii home. At what point can escrow be opened? a.)When Carson and Vivianne execute a purchase contract b.)When Carson submits a counter-proposal to Vivianne c.)When Vivianne submits her earnest money deposit to Carson's broker d.)When Vivianne submits her offer to Carson

a.)When Carson and Vivianne execute a purchase contract

Which of these activities normally would not require a Hawaii real estate license? a.)Manage property b.)Performing a market analysis for a property c.)Selling personally owned property d.)Sell real estate at an auction

c.)Selling personally owned property

Which of these best describes a condominium property regime (CPR)? a.)The condo developer's management phase b.)The management structure of a condominium project c.)The ownership structure and governance process for a condominium project d.)The REC's control over Hawaii condos

c.)The ownership structure and governance process for a condominium project

What is Hawaii's residential property disclosure form? A.) A statement of the condition the home will be in after repairs are completed B.) A statement that lists all home upgrades the seller made C.) A statement that outlines the home repairs made in the past five years D.) A statement the seller provides to the buyer that outlines all known property defects

D.) A statement the seller provides to the buyer that outlines all known property defects

Which of these acknowledgments do buyers and sellers make by signing the HAR Purchase Contract form? A.)The brokerage firm makes no guarantee as to the tax map key. B.) The brokerage firm must ask permission before placing any ads or property signage. C.) The buyers are purchasing the property in as-is condition. D.) The seller makes no guarantee regarding the property's future resale value

D.) The seller makes no guarantee regarding the property's future resale value

Travis, a licensed salesperson, was awarded a judgment of $10,000, but the broker won't pay. For what amount may Travis apply to the real estate recovery fund? a.)$0 b.)$10,000 c.)$15,000 d.)$25,000

a.)$0 (Hawaii's real estate recovery fund reimburses consumers who've been awarded a court judgment against a licensee. Licensees are not eligible to apply for reimbursement from the fund.)

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.)10 b.)15 c.)30 d.)60

a.)10

Which number or numbers represent the plat number in TMK number 453120310? a.)120 b.)3 c.)31 d.)310

a.)120 (The last three digits, 310, represent the parcel number. The three numbers preceding the parcel number, in the middle of the TMK number, 120, represent the plat number.)

local planning and zoning board on Hawaii'i Island is reviewing multiple applications at this week's meeting. Which of the following new developments is likely to be reviewed relative to a mixed-use zoning ordinance? a.)A high rise with residential, retail, and entertainment space b.)A one-story building with retail and office space c.)A self-storage facility d.)Four patio homes on six acres

a.)A high rise with residential, retail, and entertainment space

Marcus died without a will and with no known heirs. What happens to his real property? a.)After 15 years, the state may acquire the property through the process of escheat. b.)After five years, the county may acquire the property through the process of escheat. c.)After one year, the county may condemn the property and destroy it. d.)The city or county in which the property is located may auction it off after a period of two years.

a.)After 15 years, the state may acquire the property through the process of escheat.

Which of these is the best example of an estate from period to period? a.)After Morgan's one-year lease expired, he continued to lease the property with no defined end date. b.)John's lease terminates automatically and is inheritable. c.)Peggy's lease expired, but she wouldn't leave the apartment. d.)Ricardo's lease has no specified end date and requires reasonable notice to terminate.

a.)After Morgan's one-year lease expired, he continued to lease the property with no defined end date.

In Hawaii, which commercial transactions require agency disclosure? a.)All sales, and leases for longer than one year b.)Neither sales nor leases c.)Sales, but not leases d.)Transactions above $1 million in value

a.)All sales, and leases for longer than one year

When is agency disclosure required in a timeshare sale in Hawaii? a.)Always. b.)If the property was built after 2010. c.)Never; timeshares are exempt from disclosure requirements. d.)When the timeshare will be for one year or longer.

a.)Always.

In which of these situations is the Residential Leasehold Property Addendum most likely to be used? a.)Amos is purchasing a leasehold property. b.)Douglas is leasing a commercial space. c.)Jeremy is signing a lease agreement on a two-bedroom apartment. d.)Kaila is purchasing a fee simple property.

a.)Amos is purchasing a leasehold property.

What are a borrowers' redemption rights under Hawaii foreclosure law? a.)Borrowers have an equitable right of redemption, which permits them to bring all payments and fees current before a foreclosure sale takes place. b.)Borrowers have a statutory right to redeem a foreclosed property for up to one year after the foreclosure sale. c.)Borrowers have a two-year statutory right of redemption in the case of foreclosure for non-payment of property taxes. d.)Hawaii doesn't recognize either equitable or statutory rights of redemption.

a.)Borrowers have an equitable right of redemption, which permits them to bring all payments and fees current before a foreclosure sale takes place.

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 b.)Management level licensees c.)Managing partners d.)Salespeople

a.)Brokers

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

a.)Bureau of Conveyances

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

a.)Include a kick-out clause in the sales contract

Under which of these circumstances can Leilani, the landlord, enter Joanna's Honolulu apartment without providing notice and receiving consent? a.)It appears that a major water leak is emanating from Joanna's unit. b.)Joanna has gone on vacation for two weeks. c.)Leilani has a prospective tenant for the unit after the current tenant's lease expires. d.)The painters have arrived to paint Joanna's unit.

a.)It appears that a major water leak is emanating from Joanna's unit.

What happens to the public report once the developer has sold all condo units? a.)It expires. b.)It remains on file with the local planning and zoning division. c.)It remains on file with the REC and must be updated annually. d.)It's turned over to the association board of directors.

a.)It expires.

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. c.)Kirsten refused to rent half of the duplex she owns and lives in to two male college students. d.)The Sunny Bay retirement home refused to rent a unit to a high school graduate who will work at the facility.

a.)Jeanine refused to rent the basement of a home she doesn't live in to a woman of African descent.

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.

a.)Jenny is the legal property owner.

What is the difference between leasehold ownership and a leasehold estate? a.)Leasehold ownership refers to a ground lease; a leasehold estate is a less-than freehold estate (tenancy). b.)Leasehold ownership refers to tenancy; leasehold estate refers to a life estate. c.)Leasehold ownership refers to the owner of a leased property; leasehold estate refers to the lease of a large parcel of property (an estate). d.)Nothing. They're the same thing.

a.)Leasehold ownership refers to a ground lease; a leasehold estate is a less-than freehold estate (tenancy).

While he was in Colorado for six months helping care for his parents, Christian leased his Maui home to Lenore. He collected a security deposit but didn't prepare a written lease or complete an inventory of property condition. He returned home to find that Lenore severely neglected the house, nearly destroying it. Is Christian legally able to retain Lenore's security deposit? a.)No, because Christian didn't complete the inventory of property condition. b.)No, because there was no written lease. c.)Yes, because her lease prohibited her from damaging the property. d.)Yes, if the rental agreement was for a period of less than a year.

a.)No, because Christian didn't complete the inventory of property condition.

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.

a.)No, because Hawaii laws expressly permit her to place such a sign

Dean is the listing agent for Jane's property. After a couple of weeks on the market, two formal written offers come through. One is for well below the listing price, and another is a bit closer, but still under the list price. What should Dean do with the offers? a.)Present both offers to Jane. b.)Present the higher offer to Jane, but not the lower offer. c.)Present the lower offer to Jane, but not the higher offer. d.)Respond to the buying agents and tell them to submit new offers closer to the listing price.

a.)Present both offers to Jane.

In Hawaii, which of these actions would be considered discriminatory? a.)Refusing to rent to a person who uses an emotional support animal b.)Requesting verification of a disability that's not readily apparent c.)Requiring a person with an assistance animal to pick up the animal's waste d.)Requiring a person with a therapy animal to obey leash laws

a.)Refusing to rent to a person who uses an emotional support animal

Upon reviewing the Hawaii seller's property disclosure, Rhianna decided to cancel her purchase contract with the seller. She notifies the seller in writing within 15 days of receiving the disclosure. Which of the following statements describes Rhianna's earnest money deposit? a.)Rhianna gets the entire deposit back. b.)The seller and Rhianna split the deposit. c.)The seller and seller's agent split the deposit. d.)The seller may retain the deposit.

a.)Rhianna gets the entire deposit back.

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.

a.)She's a full-time resident of Hawaii.

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.

a.)Sparks fly from the kitchen light every time it's turned on.

Suzanne's lender sold her foreclosed home at auction, receiving less for it than Suzanne owed against it. Her lender is seeking a deficiency judgment. Which of these must be true? a.)Suzanne's lender used a judicial foreclosure process. b.)Suzanne's lender used a non-judicial foreclosure process. c.)Suzanne's personal asset value must be valued at more than $250,000. d.)The difference between the sale proceeds and the loan balance was greater than $25,000.

a.)Suzanne's lender used a judicial foreclosure process. (Lenders may file for a deficiency judgment only if they used a judicial foreclosure process.)

What does it mean when an individual has an interest in real property? a.)The individual has some claim against or right to a property. b.)The individual is interested in all things real estate, such as real estate law and local, state, and national real estate trends and issues. c.)The individual is interested in purchasing a particular piece of property. d.)The individual owns all rights associated with a particular property.

a.)The individual has some claim against or right to a property.

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

a.)The next business day

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.

b.) Kennedy is representing his LLC in the purchase of a commercial building.

Luke just purchased a property for $325,000, which was over list price. The Hawaii County assessed property value is $318,000. He's eligible for a $40,000 homeowner exemption and other exemptions of $5,000. His GET for the year was $80. On what amount will his property tax be calculated? a.)$272,920 b.)$273,000 c.)$278,000 d.)$318,000

b.)$273,000

SueAnn uses her Hawaii property as a short-term rental. Her latest guests paid $4,200 in rental fees, $250 as a cleaning and maintenance fee, a $441 TAT charge, and a $210 GET, with both TAT and GET invoiced as a separate line item on the bill. What is the gross rental income on which SueAnn will pay the TAT? a.)$4,200 b.)$4,450 c.)$4,891 d.)$5,101

b.)$4,450 (Gross rental income includes rental income and the cleaning/maintenance fees charged. Because SueAnn listed both GET and TAT as separate charges on the client's bill, she's not required to pay TAT on those charges.)

**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

b.)494.66 seller debit, buyer credit

In Hawaii, which of the following wouldn't need to be disclosed by the listing agent who noticed it when selling a home? a.)A garage added on to the home without a permit b.)A kitchen cabinet that was installed at a slight angle c.)Electrical wiring performed by a non-licensed homeowner d.)Water damage from a recent basement flood

b.)A kitchen cabinet that was installed at a slight angle

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

b.)An 18-month fixed-term lease

Which of the following must an individual do to be qualified to get a Hawaii broker's license? a.)Be licensed as a Hawaii salesperson for the previous five years and pass the broker's exam b.)Be licensed as a Hawaii salesperson for three of the previous five years and pass the broker's exam c.)Be sponsored by a managing broker and pass the broker's exam d.)Obtain a licensed or unlicensed assistant

b.)Be licensed as a Hawaii salesperson for three of the previous five years and pass the broker's exam (To qualify for a broker's license, an individual must have been employed full-time as a Hawaii licensed real estate salesperson for three of the previous five years prior to sitting for the broker exam.)

As an unlicensed assistant for Brock, the principal broker at Hawaii Homes, which of these would Alyssa NOT be able to perform? a.)Calculate commission checks. b.)Clarify simple contract details for a client. c.)Distribute flyers about a neighborhood open house. d.)Photocopy documents for a closing.

b.)Clarify simple contract details for a client.

Which of these would be considered an encroachment? a.)A path providing neighborhood access to a park cuts through part of Jim's property. b.)Connie installed a sidewalk next to her driveway, six inches outside her property. c.)The county seized a formerly private parcel of land for public use. d.)The state took ownership of Carson's property when no heirs could be located following his death.

b.)Connie installed a sidewalk next to her driveway, six inches outside her property.

In Section T of the HAR Purchase Contract, the seller has three choices as to the disposition of the offer. The seller may elect to not sign the offer or to sign the offer to either accept it or to amend the contract with a ______. a._Agreement to compensate broker b.)Counter offer c.)Purchase and sale addendum d.)Seller's acknowledgement of offer

b.)Counter offer

Laura has agreed to purchase Derrick's Oahu property using an agreement of sale. Who holds legal title to the property during the term of the loan? a.)Both Laura and Derrick b.)Derrick c.)Laura d.)The state

b.)Derrick

Based on the Professional and Vocational Licensing Act, which of these individuals is most likely to be refused a license? a.)Dawn hasn't paid her federal income taxes for three years. b.)Gerry is behind on court-ordered child support payments. c.)Jeanine failed to pay several outstanding traffic citations. d.)Marcella doesn't make her minor children attend school.

b.)Gerry is behind on court-ordered child support payments.

Homeowner exemptions in Hawaii are a way to ________. a.)Ensure preservation of historic structures b.)Give tax breaks to individuals who live in Hawaii year-round c.)Increase funding for public programs and services d.)Level the playing field between counties

b.)Give tax breaks to individuals who live in Hawaii year-round

In Hawaii, the ______ separates public from private land at the shoreline. a.)Buoy marker b.)High wash of the waves c.)Low tide mark d.)Mean high water mark

b.)High wash of the waves

The Hawaii Real Estate Recovery Fund paid a claim to one of Jarod's clients. Which of these statements is true? a.)Jarod's license will be forfeited until he reimburses the recovery fund. b.)Jarod's license will be terminated for at least five years. c.)Jarod's license will be terminated indefinitely. d.)Jarod's license will be terminated unless he reimburses the fund within 90 days.

b.)Jarod's license will be terminated for at least five years.

Jonah recently sold his Kauai beachfront property for $650,000. Morgan sold his Oahu Property for $650,000. Jonah's conveyance tax was higher than Morgan's. How can this happen? a.)Beachfront property conveyance tax rates are higher than inland rates. b.)Jonah isn't eligible for a homeowner's property tax exemption, so his tax rate is higher. c.)Morgan's property was smaller, and conveyance tax rates differ based on property size. d.)The conveyance tax owed is based on the profit made by the seller.

b.)Jonah isn't eligible for a homeowner's property tax exemption, so his tax rate is higher.

Which of these is an example of Hawaii homestead law? a.)Carissa may convey her property only to a native Hawaiian. b.)Karstan's property is protected from some creditor claims up to the amount of $30,000. c.)Serena receives an annual stipend for owning a property that was an original Hawaii homestead. d.)Serenity is restricted from conveying her property to anyone outside her family.

b.)Karstan's property is protected from some creditor claims up to the amount of $30,000.

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

b.)Legal and mental capacity

You work for High Side Realty under the supervision of broker Sage. Your buddy in the next county gave you a referral fee. The check came to your office in your name. You deposit it. Is this okay? a.)No, because agents can only be paid directly if they're paid in cash. b.)No, because all compensation must come through your broker. c.)Yes, if the check is endorsed by your broker, as well. d.)Yes, provided your broker knows about the check.

b.)No, because all compensation must come through your broker.

Tina has fee simple ownership of her timeshare unit. Which of these is NOT an example of the type of ownership she may have? a.)Interval ownership b.)Right-to-use c.)Tenancy in common d.)Timeshare estate

b.)Right-to-use

Sara Beth is trying to think of ways to recruit new licensees to the firm. She knows that one of the barriers is in passing the licensing exam. Which of these is NOT a legal solution to this concern? a.)Sara Beth becomes a licensed instructor and agrees to teach some classes for a local real estate school. b.)Sara Beth sits for the licensing exam to get a better idea what's on it. c.)The firm develops a series of practice exams. d.)The firm offers an exam prep study class.

b.)Sara Beth sits for the licensing exam to get a better idea what's on it.

Tonya is an assistant for a real estate licensee in Hawaii. Which of these statements MUST be TRUE? a.)She may independently host open houses without the broker's permission. b.)She may perform general clerical duties such as inserting factual information into contract forms. c.)She must hold an active real estate license. d.)She's prohibited from obtaining a real estate license while employed as an assistant.

b.)She may perform general clerical duties such as inserting factual information into contract forms.

Which of these categories of agency representation can a buyer or seller select in Section A of the HAR purchase contract? a.)General agency b.)Single agency c.)Sub-agency d.)Transaction brokerage

b.)Single agency

What is the relationship between the Professional and Vocational Licensing Act and Hawaii real estate license law? a.)Provisions of the Professional and Vocational Licensing Act supersede provisions in Hawaii real estate license law. b.)The Professional and Vocational Licensing Act governs all Hawaii occupations that require a license, including the real estate licensees. c.)The Professional and Vocational Licensing Act governs all Hawaii occupations that require a license unless the occupation has its own licensing requirements. d.)The Professional and Vocational Licensing Act includes a number of real estate-related provisions not found in license law.

b.)The Professional and Vocational Licensing Act governs all Hawaii occupations that require a license, including the real estate licensees.

Which of these is a true statement regarding trust accounts in Hawaii? a.)The broker is a designated beneficiary of trust funds. b.)The broker is a fiduciary/trustee of the funds, but doesn't own them. c.)The broker legally owns the funds in the trust account. d.)The buyer or seller is the fiduciary/trustee of the funds, but doesn't own them.

b.)The broker is a fiduciary/trustee of the funds, but doesn't own them.

Josie wants to add an Ohana dwelling to her property. Which of these is a requirement no matter which island Josie is on? a.)Only family members may live in the Ohana. b.)The dwelling must be permitted. c.)The lot size must exceed 5,000 square feet. d.)The Ohana must be detached from the main structure.

b.)The dwelling must be permitted.

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

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

Which of these factors makes land use planning in Hawaii more complex than in other states? a.)Hawaii's strict environmental and ecological regulations. b.)The relationships between the state, counties, and cities. c.)The state's limitations on building height and size. d.)The vast amount of coastal area in the state.

b.)The relationships between the state, counties, and cities.

Carlos is selling his beachfront property in Hawaii. He presents the potential buyer with a shoreline survey that indicates his shoreline property boundary. Which of these is true? a.)The shoreline survey is a permanent record of a property's shoreline boundary. b.)The shoreline survey is only good for one year, so the buyer should make certain it's current. c.)The shoreline survey is valid only for the current owner, so the buyer must have a survey completed and verified. d.)The shoreline survey verifies that Carlos's home can legally be marketed as beachfront.

b.)The shoreline survey is only good for one year, so the buyer should make certain it's current.

What's the purpose of the additional checkboxes in Section T of the HAR Purchase Contract that identify parties to the contract as a foreign, non-resident, or owner occupant? a.)To identify the current status of the seller as foreign, non-resident, or owner-occupant b.)To identify the status of the contracting parties to escrow and other responsible parties so closing withholdings and charges can be made properly c.)To identify whether fair housing laws apply d.)To put the seller on notice that a foreign or non-resident status has been reported

b.)To identify the status of the contracting parties to escrow and other responsible parties so closing withholdings and charges can be made properly

Hawaii license laws describe required pre-licensure education, define activities that require a license, describe standards of conduct, and enforce these standards. Why do they do this? a.)To earn money from Hawaii real estate licensees b.)To protect consumers c.)To protect licensees d.)To protect the Hawaii Real Estate Commission

b.)To protect consumers

Real estate lease transactions in Hawaii and commissions paid to Hawaii real estate licensees, other than those conducted in Honolulu County, are assessed at what general excise tax rate? a.)0.15% b.)0.5% c.)4.0% d.)It depends on the transaction amount.

c.)4.0% (Real estate lease transactions are assessed at the 4% GET rate, other than in Honolulu, where the rate is 4.5%.)

enna and Hank just executed a contract for the sale of Hank's property. What Hawaii person or entity is most likely to handle the closing? a.)A lender b.)An attorney c.)A title company d.)The Bureau of Conveyances

c.)A title company (Hawaii closings are nearly always managed by an escrow or closing officer at a title insurance company._

Hawaii fair housing laws require that multi-family properties built after March 13, 1991, meet all but which of these requirements? a.)All common areas must be accessible. b.)All door openings must be wheelchair accessible. c.)All entrances must be accessible. d.)All light switches, outlets, and thermostats must be accessible.

c.)All entrances must be accessible. (Regulations require that at least one entrance be accessible unless the terrain or site characteristics make it impossible.)

Danson requests that his landlord change the rent due date from the first day of the month to the fifth day of the month. Under which of these circumstances must his landlord agree to this change? a.)Danson doesn't get his paycheck until the fifth of the month. b.)Danson moved in on the fifth of the month. c.)Danson's public assistance check is issued on the second of the month. d.)It takes three days for Danson's electronic payment to reach the landlord, and Danson can't schedule the payment until he gets paid on the second of the month.

c.)Danson's public assistance check is issued on the second of the month.

A Hawaii escrow officer needs to calculate a proration for a period of 12 days in February. How will this calculation be performed? a.)Calculate the monthly cost, then divide by 28. b.)Calculate the monthly cost, then divide by the number of days in February. c.)Divide the annual cost by 360; multiply the result by 12. d.)Divide the annual cost by 365; multiply the result by 12.

c.)Divide the annual cost by 360; multiply the result by 12.

Tristan is a seasoned real estate broker who's been in the business for many years. What does Hawaii law require of him? a.)Consult an attorney before offering legal advice to his clients. b.)Encourage clients to hire an attorney to draft all transaction-related legal documents. c.)Encourage clients to seek expert advice related to title, boundary, legal, and other issues. d.)If questioned, provide whatever advice he's able to give based on his years of experience.

c.)Encourage clients to seek expert advice related to title, boundary, legal, and other issues.

Which of these is an example of a fee simple absolute estate? a.)Becca's aunt conveyed the family farm to her on the condition that she never convey it to a non-family member. b.)Cassandra bought a small acreage in a rural area of Hawaii. If she converts the use of the property to anything but agriculture, her ownership automatically terminates. c.)Harvey bought a home on Oahu. He has all the rights of ownership, including the right to sell and to convey the property to his heirs at his death. d.)Steven's ownership interest in his property expires in 99 years.

c.)Harvey bought a home on Oahu. He has all the rights of ownership, including the right to sell and to convey the property to his heirs at his death.

Which of these statements related to the NAR Code of Ethics and Hawaii real estate licensees is true? a.)Hawaii has developed its own code of ethics that parallels the NAR Code of Ethics. b.)Hawaii licensees, whether NAR members or not, must sign a statement agreeing to abide by the NAR Code of Ethics. c.)Hawaii licensees who violate the Code of Ethics may also be in violation of state statute. d.)Hawaii licenses are required to join NAR.

c.)Hawaii licensees who violate the Code of Ethics may also be in violation of state statute.

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.

c.)It provides the seller with protection against liability and potential legal action.

Which of these borrowers would most likely be eligible for funding from the Hula Mae loan program? a.)Carson is purchasing a leasehold property on which the remaining term is 27 years. b.)Cynthia is selling the home that she's lived in for 10 years; she's researching the best financing options for her next home purchase. c.)Jessie has been saving her money and finally has enough for a down payment on her first home. d.)Mitzi was so pleased with how her first Hula Mae loan worked that she wants to use the loan program for her upcoming new home purchase.

c.)Jessie has been saving her money and finally has enough for a down payment on her first home.(Borrowers must meet age, income, and first-time homebuyer restrictions to qualify for Hula Mae loans.)

Jorge attained his first real estate license two years ago in Hawaii. Which of these statements is true? a.)Jorge is a broker. b.)Jorge is a broker associate. c.)Jorge is a salesperson. d.)Jorge is eligible to sit for the broker's licensing exam.

c.)Jorge is a salesperson.

Under King Kamehameha I's reign, the ______ initially could possess the land but couldn't legally own the land. a.)Ali'i b.)Allodial c.)Kanaka d.)Konohiki

c.)Kanaka

To which of these loans would Hawaii's usury laws apply? a.)Craig's mother took out a reverse mortgage on her property. b.)Jenson took out a second mortgage on his home to remodel it. c.)Kirstin agreed to loan a customer $5,000 to purchase inventory. There's no written loan documentation. d.)Michael is borrowing $150,000 against the equity in his home to start a catering company.

c.)Kirstin agreed to loan a customer $5,000 to purchase inventory. There's no written loan documentation. (Because the loan to Kirstin's customer isn't documented in writing, it's subject to a 10% interest rate restriction under Hawaii's usury laws.)

Which of these best states the difference between laws and ethics? a.)Ethics are expressed and published in writing; laws are more likely to be abstract. b.)Laws are a set of guidelines; ethics is a set of rules and regulations. c.)Laws are a systematic body of rules; ethics relate to the moral philosophy by which an individual or group functions. d.)Laws are defined by individual, legal, and professional norms; ethics are defined by governments.

c.)Laws are a systematic body of rules; ethics relate to the moral philosophy by which an individual or group functions.

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.

c.)Leasehold properties could be converted to fee simple properties through eminent domain.

Mallory's firm is permitted by Hawaii law to hold earnest money funds for real estate transactions. Which of these statements must be true? a.)Mallory is a licensed attorney. b.)Mallory is a licensed real estate broker. c.)Mallory works for a corporation. d.)Mallory works for a licensed partnership.

c.)Mallory works for a corporation.

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

c.)Mandatory leasehold conversions through condemnation

Which of the following is NOT an example of an agency relationship permitted in Hawaii? a.)Cary represents both Roger (the buyer) and Cecile (the seller) in a single transaction. b.)Katherine represents just the seller in a transaction. c.)Margo represents neither the buyer or the seller in a transaction, but is helping them both with paperwork. d.)Mark represents just the buyer in a transaction.

c.)Margo represents neither the buyer or the seller in a transaction, but is helping them both with paperwork.

Mickey's license has been placed on inactive status because the principal broker's license lapsed. What will most likely happen to the seller's transaction on which Mickey is currently working? a.)Mickey can continue to work the transaction through closing. b.)Mickey can switch brokerage affiliations and immediately pick the transaction back up. c.)Mickey must cease all licensed activity, which means referring his client to another brokerage firm. d.)The contract between Mickey's seller and the buyer terminates.

c.)Mickey must cease all licensed activity, which means referring his client to another brokerage firm.

Which of these statements regarding Hawaii's Land Court registration system is true? a.)Clear title to a property registered in the regular system is documented with a Certificate of Title. b.)Counties determine which properties are to be submitted to Land Court. c.)Most conveyances are recorded through Hawaii's regular system. d.)Title companies require that properties with Kuleana rights be registered through Land Court.

c.)Most conveyances are recorded through Hawaii's regular system.

After taking the Hawaii licensing exam, how long must an applicant wait for results? a.)48 hours b.)Four to six weeks c.)No wait d.)Two weeks

c.)No wait

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

c.)One year

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.

c.)Owners foreclosed on for nonpayment of property taxes have a one-year statutory right of redemption.

New ownership registration in Hawaii's Land Court is rare. Why does the state continue to use this system? a.)Agricultural and rural property conveyance can only be registered through the Land Court system. b.)Leasehold property conveyance must be registered in the Land Court system. c.)Properties originally recorded in the Land Court system remain in that system, so both it and the regular system are maintained. d.)The state wishes to maintain the historical aspects of land registration.

c.)Properties originally recorded in the Land Court system remain in that system, so both it and the regular system are maintained.

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.

c.)Provide Krishna with a reasonable estimated repair date.

Jesse has permission to live on his father's Kauai property as long as Jesse's grandmother is alive. This is an example of which type of life estate? a.)Conventional b.)Life estate with remainder c.)Pur autre vie d.)Reversionary

c.)Pur autre vie

What's true regarding Hawaii granting a homeowner exemption to a year-round resident? a.)Hawaii automatically grants exemptions to all qualified homeowners. b.)Hawaii only grants 15% of all homeowner exemption applications on a first-come, first-served basis. c.)Qualified homeowners must apply to the county in which they reside for an exemption. d.)Qualified homeowners must apply to the state for the exemption.

c.)Qualified homeowners must apply to the county in which they reside for an exemption.

In Hawaii, which of these individuals would need a real estate license? a.)Kiley is the executor of her mother's estate and is conveying property on behalf of the estate. b.)Meg pays a considerable portion of her rent at Sunset Apartments from credits she gets for referring prospective tenants. c.)Renda Beard is a leasing agent. She employs two other leasing agents. d.)Two partners are selling an apartment they jointly own.

c.)Renda Beard is a leasing agent. She employs two other leasing agents.

Maile notified her landlord of a malfunctioning hard-wired smoke detector a week ago. The landlord hasn't responded. Maile is concerned because she has young children in the house, so she called an electrician to fix the issue and withheld the $350 charge from her next month's rent. Was Maile within her rights to do this? a.)No, because the cost was more than $250. b.)No. She must pay the full amount of rent and request reimbursement from the landlord. c.)Yes, as long as she submits the receipts to the landlord. d.)Yes, because the repair cost is less than $750.

c.)Yes, as long as she submits the receipts to the landlord.

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.

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.

b.)The ambiguous nature of the decision places into question what access property owners can and can't prohibit.

The Hawaii Condominium Property Act requires that developers designate which percentage of condo developments to initially be sold to buyers who plan to occupy their units? a.)20% b.)40% c.)50% d.)60%

c.)50%

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.

c.)Conform to the deed restriction.

Which of these best describes a real estate salesperson in Hawaii? a.)Autonomous b.)Interim c.)Managerial d.)Supervised

d.)Supervised

If new land areas are created from the cooling of lava that flows into the ocean, to whom does the land belong? a.)The adjoining property owners b.)The federal government c.)The Hawaii Department of Land and Natural Resources d.)The state of Hawaii

d.)The state of Hawaii

The HAR purchase contract contains the phrase, ______, reminding the parties to avoid unnecessary delays to the transaction and to adhere to all contract dates. a.)Haste makes waste b.)Patience is a virtue c.)Seek the advice of an attorney d.)Time is of the essence

d.)Time is of the essence

Which of these is an example of a purchase money mortgage? a.)Buyer Jethro doesn't have the full 20% down payment his lender requires. To close the sale, seller Cindy will finance a loan for the gap between Jethro's down payment and the amount the institutional lender will loan. She'll place a lien on the property. b.)Charles is selling his property to Seth. Charles is financing part of the transaction for Seth, who will make payments to Charles while Charles retains the property title. c.)Elizabeth wants to make a 20% down payment on her mortgage loan. She's short on cash right now, but will get a big payout soon. She finances her home with a first mortgage, and takes out a second mortgage to finance the down payment. d.)Manuel is selling his home to Selena. He has an existing loan that he'll continue to make payments on, and he's extending credit to Selena for the balance of the purchase price. She will make monthly payments to him.

a.)Buyer Jethro doesn't have the full 20% down payment his lender requires. To close the sale, seller Cindy will finance a loan for the gap between Jethro's down payment and the amount the institutional lender will loan. She'll place a lien on the property.

Cassie signed a sales contract on a newly-developed condominium unit on March 12. The developer presented the required disclosures to her, including her right to cancel the contract. On March 27, she closed on the purchase. On March 29, she reviewed the developer disclosures and decided to terminate her purchase. Which of these statements is true? a.)Cassie may not terminate the contract because she closed on the purchase. b.)Cassie may not terminate the contract because the 15-day cancellation period has elapsed. c.)Cassie may terminate the contract because it's a violation of Hawaii condominium law to close before the 30-day period has elapsed. d.)Cassie may terminate the contract because it's within the 30-day cancellation period.

a.)Cassie may not terminate the contract because she closed on the purchase.

Shawna and Todd are ready to close on their new Hawaii home. Closing can take place when which of these occurs? a.)Closing funds have cleared and are available for immediate disbursement by Escrow b.)Shawna and Todd have requested their down payment wire transfer c.)The lender has cleared the loan for closing d.)The new deed and mortgage documents have been recorded

a.)Closing funds have cleared and are available for immediate disbursement by Escrow

Which of these most succinctly defines standards of care? a.)Competence b.)Customer service c.)Empathy d.)Honesty

a.)Competence

Marta is on month-to-month lease agreement under which she's responsible for utility payments. She has complained to her landlord several times about maintenance issues around the Maui house she rents. She received a subsequent rent increase and has filed suit, claiming it's a retaliatory act. Given these circumstances, which of these justifies a rent increase? a.)Damage Marta caused forced the landlord to make substantial repairs to the property. b.)Similar homes in the area are renting for more than Marta's home. c.)The city announced a marked increase in city utility costs. d.)The landlord is going to completely remodel the property.

a.)Damage Marta caused forced the landlord to make substantial repairs to the property.

Select the scenario that's the best example of a Hawaii PUD. a.)Emma lives in a senior living community. She has a fee simple interest in her two-bedroom, patio-style home and lot. Her home is in a cluster of similar homes, and she shares a nice open space with her neighbors. b.)Katrina lives in a building in which she owns the unit but not the land under it. She has common ownership interest in the clubhouse and pool area. c.)Koni lives in a neighborhood that's been targeted for redevelopment. The city plans to funnel grant dollars into the community to encourage owners to rehabilitate the properties and neighborhood. d.)Wayne lives in a new development that's planned to include larger building lots and only residential properties.

a.)Emma lives in a senior living community. She has a fee simple interest in her two-bedroom, patio-style home and lot. Her home is in a cluster of similar homes, and she shares a nice open space with her neighbors.

The county with the highest property tax rate in Hawaii is ________. a.)Hawaii County b.)Honolulu County c.)Kauai County d.)Maui County

a.)Hawaii County

Kip owns a beachfront apartment building on the Big Island. The building is 50% vacant, because part of the building and many of the units were damaged in a hurricane. Kip's estimates indicate that it's cost prohibitive to repair the structure. What are Kip's options? a.)He can demolish the building with 120 days' notice to existing tenants. b.)He can demolish the building with 28 days' notice to tenants since it's only 50% occupied. c.)He can demolish the building with 45 days' written notice to his tenants. d.)He must wait until all existing lease agreements expire before demolishing

a.)He can demolish the building with 120 days' notice to existing tenants.

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.

a.)He didn't rent it out for the two months he lived elsewhere.

Kona is reading the condominium bylaws. What information will most likely be found there? a.)How the board of directors is elected b.)Rules for using the workout room c.)The developer's contact information d.)The size of her neighbor's condo unit

a.)How the board of directors is elected

Which of these statements about affordable housing organizations in Hawaii is true? a.)Hula Mae is designed to offer competitive mortgage loans to eligible borrowers. b.)The HHFDC, as part of the Department of Business, Economic Development, and Tourism, provides direct lending to eligible home buyers. c.)The HPHA, as part of the Department of Human Services, provides affordable housing research information to the public. c.)The Native Hawaiian Housing Loan Guarantee Program oversees Hawaii's Section 8 housing program and the Native Hawaiian Housing Loan Guarantee Program.

a.)Hula Mae is designed to offer competitive mortgage loans to eligible borrowers.

Kimmie submitted her property to the Land Court for review. The examiner notified Kimmie that her property ownership wasn't clear. Kimmie withdrew her application within the prescribed time frame. Why is this important? a.)If Kimmie continued, the Land Court would notify any others with potential interests in the property. b.)Kimmie could be fined if she continued with the review. c.)Kimmie would have to go to court to prove her interest in the property if she continued. d.)The Land Court could strip Kimmie of her right to the property if she continued.

a.)If Kimmie continued, the Land Court would notify any others with potential interests in the property.

A small fire makes Robin's second bathroom temporarily unusable. Which of these is NOT a right Robin possesses related to this issue? a.)Robin may choose to remain in the property and is then liable for a prorated rent payment. b.)Robin may choose to vacate the property and notify the landlord, which terminates her rental agreement on the day she vacates. c.)Robin may temporarily vacate the property while awaiting repairs. The landlord must hold the property for her for one month after repairs are complete. d.)Robin may vacate the property without notifying the landlord; she'll owe rent from the time she moves out until the time the landlord discovers she's gone.

c.)Robin may temporarily vacate the property while awaiting repairs. The landlord must hold the property for her for one month after repairs are complete. (Hawaii statutes don't reserve a tenant's right to move out during repairs while retaining the right to move back in.)

Which of these projects could be eligible for funding through the Native Hawaiian Housing Loan Guarantee Program? a.)Mickey moved from his home state of Colorado and intends to rehabilitate a single family home on Hawaiian home land for his family. b.)Morris is a native Hawaiian and intends to renovate and live in a single family home in a special management area on Oahu. c.)Ron is a native Hawaiian. He plans to rehabilitate a three-bedroom house located on Hawaiian home lands and then live in it. d.)Wendy plans to build a new duplex on Hawaiian homelands and rent both sides out.

c.)Ron is a native Hawaiian. He plans to rehabilitate a three-bedroom house located on Hawaiian home lands and then live in it.

The Hawaii Land Use Commission arranges for special use permits in which land use district? a.)Commercial b.)Conservation c.)Rural d.)Urban

c.)Rural

What's the primary content in Section R of Hawaii's purchase contract? a.)Buyer and buyer's agent signatures b.)General provisions and definitions c.)Scope of brokerage services and disclaimers d.)Seller and seller's agent signatures

c.)Scope of brokerage services and disclaimers

**Which of these statements accurately reflects how items would appear on the settlement statement based on Hawaii custom? 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.

c.)Seller pays FIRPTA/HARPTA, buyer's title insurance, and conveyance taxes.

Halia just purchased a condo in Hawaii. She didn't receive a seller's property disclosure form. What's the likely reason? a.)Condo sales aren't subject to disclosure rules. b.)Her purchase was a short sale transaction. c.)She purchased a bank-owned property. d.)She waived her right to receive the form from the seller.

c.)She purchased a bank-owned property.

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.

c.)Submit the property to Hawaii Land Court.

Which of these must comply with Hawaii's fair housing laws related to accessibility? a.)Christian substantially remodeled a single-family property in 2016 to convert it to a rental unit. b.)Sandy constructed her fifth single-family rental property in 2002. c.)Sunny Side Development built a five-unit apartment building in 2016. d.)The Seaview Apartment complex, built in 1989, houses six units.

c.)Sunny Side Development built a five-unit apartment building in 2016.

Barbara is purchasing a residential property in Hawaii. She's had a general property inspection as well as termite and lead-based-paint inspections performed. The inspection uncovered some issues she's concerned about. Which of these is NOT an option available to Barbara? a.)Move forward with the contract without asking for repairs b.)Negotiate with the seller for repair of the items of concern c.)Terminate the contract by calling the seller's agent d.)Terminate the contract in writing before the stated deadline

c.)Terminate the contract by calling the seller's agent

Suzanne is purchasing a home in Hawaii. She hasn't received the required inventory list from the seller, and the deadline for receipt has passed. What are her options? a.)Rely on the inclusions checklist in the purchase contract. b.)Sue the seller for being in default. c.)Terminate the contract pursuant to Section O-3. d.)Walk the property and create the list herself.

c.)Terminate the contract pursuant to Section O-3.

Which of these statements about Hawaii's Shoreline Protection Act is true? a.)The SPA is Honolulu County's method of implementing shoreline and wetlands protections. b.)The SPA is the federally approved version of the Hawaii Coastal Zone Management Program. c.)The SPA required administration of the federal Coastal Zone Management Act until the state could ratify its own legislation. d.)The SPA was passed as Hawaii's permanent version of the federal Coastal Zone Management Act.

c.)The SPA required administration of the federal Coastal Zone Management Act until the state could ratify its own legislation.

After the condominium project governance has been turned over to the association, the declaration can be amended by a 67% affirmative vote of the common interest ownership. What does this mean? a.)If there are 200 units in the project, 67% of those owners must vote in the affirmative. b.)Only fee simple owners, not leasehold owners, are permitted to vote. c.)The number of votes depends on the percentage of a unit owners' interest in the project's common areas. d.)Unit owners with a fee simple interest in a unit may vote on this amendment.

c.)The number of votes depends on the percentage of a unit owners' interest in the project's common areas.

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.

c.)The victim provides documentation from the courts or the police.

For how long must a real estate brokerage firm retain trust account records? a.)Five years b.)One year c.)Three years d.)Two years

c.)Three years (HIREC requires that firms retain trust account records for at least three years. The records must be available for inspection by the commission.)

In relation to a Hawaii Agreement of Sale (land contract), the buyer is referred to as the _____. a.)Payee b.)Payor c.)Vendee d.)Vendor

c.)Vendee

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.

d.) Oahu Bank and Trust is selling a property acquired through foreclosure. The lender is required to provide a seller's property disclosure form.

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.

d.)He must submit to mediation.

Descendants of native Hawaiian farmers, who lived and worked the land, have ______, which gives them reasonable access, agricultural uses, and other gathering rights to kuleana land. a.)Kanaka rights b.)Kauai rights c.)Konohiki rights d.)Kuleana rights

d.)Kuleana rights(Kuleana rights give Native Hawaiian farmers rights on the kuleana land, which included possession, agricultural use, and gathering rights.)

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

d.)Licensing status in listed property transaction

Consuela, a real estate salesperson, wants to move from American Homes to Acme Real Estate Sales. What must she do to legally accomplish this? a.)Just start working for Acme Real Estate Sales b.)Notify both brokers that she is switching companies c.)Obtain a letter from the broker at Acme Real Estate Sales notifying American Homes of Consuela's intentions d.)Obtain a release from the broker at American Homes

d.)Obtain a release from the broker at American Homes

Which of these would most likely describe the specific terms of Martin's Hawaii co-op ownership? a.)Bylaws b.)Declaration c.)House rules d.)Proprietary lease

d.)Proprietary lease (The proprietary lease document describes a shareholder's rights and obligations related to his specific unit.)

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).

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).

In Hawaii, who's required to take 60 hours of prelicensing education and pass the exam with a score of 70% or higher? a.)Brokers b.)Management level licensees c.)Managing partners d.)Salespeople

d.)Salespeople

The primary purpose of HICZMP is to ______. a.)Act as a liaison between federal and state coastal zone management programs. b.)Define the location and size of Hawaii's special management areas. c.)Enforce implementation of coastal zone management programs. d.)Serve as an umbrella resource for county implementations of coastal zone management programs.

d.)Serve as an umbrella resource for county implementations of coastal zone management programs.

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.

d.)She must release the funds based on the contract and escrow instructions.

For which of these transactions is agency disclosure required in Hawaii? a.)Chanel found a short-term vacation renter for six weeks for Noni's timeshare. b.)Ken, a Hawaii licensee, helped Rita rent out a room in her house for six months. c.)Martin, a Hawaii licensee, found a tenant for Andy's commercial building; the lease is for 10 months. d.)Susan, a Hawaii licensee, helped Bob negotiate an option to purchase Nathan's hair salon.

d.)Susan, a Hawaii licensee, helped Bob negotiate an option to purchase Nathan's hair salon.

How does tenancy differ from leasehold ownership? a.)No notice is required to terminate a tenancy; 60 days' notice is required to terminate a leasehold ownership. b.)Tenancy has a defined end date; leasehold ownership does not. c.)Tenants likely pay a monthly lease payment as well as a mortgage payment on a financed leasehold purchase. d.)Tenants may not make improvements to a property without permission; leasehold owners may.

d.)Tenants may not make improvements to a property without permission; leasehold owners may.

Hawaii fair housing laws not only protect against discrimination but also actions that undermine the enforcement of discrimination complaints. Which of these is NOT prohibited? a.)Encouraging someone to act in a discriminatory manner. b.)Interfering with someone who attempts to exercise the rights protected by fair housing laws. c.)Retaliating against someone who files a discrimination complaint. d.)Testifying against an individual who claims to have been discriminated against.

d.)Testifying against an individual who claims to have been discriminated against.

Typically, HREC would be responsible for placing a licensee on involuntary inactive status. Who else has the authority to do this? a.)Hawaii's licensing exam test provider b.)The Hawaii Department of Corrections c.)The Hawaii Department of Revenue d.)The licensee's principal broker or broker-in-charge

d.)The licensee's principal broker or broker-in-charge

A Hawaii seller is providing financing to a buyer under an agreement of sale arrangement. Which statement best summarizes who holds title to the property in a seller financing situation? a.)The buyer receives both legal and equitable title to the property upon recordation of the transaction. b.)The buyer receives legal title to the property while the seller holds equitable title to the property until the agreement of sale terms are fulfilled.. c.)The seller retains legal and equitable title to the property until the buyer fulfills the terms of the agreement of sale. d.)The seller retains legal title to the property until the buyer fulfills the terms of the agreement of sale, but the buyer holds equitable title to the property.

d.)The seller retains legal title to the property until the buyer fulfills the terms of the agreement of sale, but the buyer holds equitable title to the property.

Which of these is the most likely scenario for a closing in Hawaii? a.)The buyers and the sellers sign all closing and mortgage loan documents electronically on the closing date. b.)The buyers and the sellers will meet at the closing table with their agents and the escrow officer to sign all closing and mortgage documents. c.)The buyers will sign closing and loan documents before the seller signs. d.)The sellers sign closing documents first, and the buyers later sign closing and mortgage documents.

d.)The sellers sign closing documents first, and the buyers later sign closing and mortgage documents.(In a typical Hawaii closing, the seller signs conveyance documents before the closing date; the buyer signs documents a day or two before the closing date. The closing date is the day that all funds have cleared and all documents are signed and recorded.)

Arliss is selling the Maui townhome she's lived in for six years. Her new home includes all new appliances. How does she inform buyers that she intends to leave the kitchen and laundry room appliances in the home? a.)It's assumed that if the appliances are on the property when a buyer sees it, they're included. b.)She'll add an Inclusions Addendum to the purchase contract. c.)They'd be listed in the property inventory list. d.)They're noted in the inclusions section of the contract.

d.)They're noted in the inclusions section of the contract.

Which of these activities would a principal broker most likely be required to perform in the proper supervision of associated licensees? a.)To create a mission statement and core values for the firm b.)To require associated licensees to be in the office to greet potential clients c.)To train associated licensees how to generate leads d.)To train associated licensees on relevant real estate laws and rules

d.)To train associated licensees on relevant real estate laws and rules

Which of these statements about the Hawaii Uniform Land Sales Practices Act is true? a.)Based on this act, real estate licensees are required to register with the Professional and Vocational Licensing Division if they intend to list any vacant property for sale. b.)The act is designed to encourage buyers and sellers to use uniform forms and verbiage in all purchase contracts. c.)The act requires that property to be subdivided be first offered to sale to native Hawaiians before being offered to the general public. d.)Under this act, developers must register a proposed sale of a subdivided lot before conveying any interest in the lots.

d.)Under this act, developers must register a proposed sale of a subdivided lot before conveying any interest in the lots. (The act applies to subdivided land inside or outside Hawaii. Prior to being offered for sale to Hawaii residents, the project must be registered with the State, which is a thorough process requiring extensive seller disclosures.)

Reggie is a legal guardian for his mother, who suffers from a mental illness. His mother would like to buy a luxury condo, but Reggie tells her she can only afford a cheap condo. In reality, his mother could easily afford a luxury condo, and Reggie hopes to transfer her excess money into his personal account. Reggie's mother trusts his word, and enters into a contract to buy a cheap condo. This is an example of ______. a.)Duress b.)Innocent misrepresentation c.)Mutual mistake d.)Undue influence

d.)Undue influence

In relation to a Hawaii Agreement of Sale (land contract), the seller is referred to as the _____. a.)Payee b.)Payor c.)Vendee d.)Vendor

d.)Vendor

Herb is representing Arlene in the sale of Arlene's Hawaii home. They have signed an exclusive right-to-sell listing agreement. If Arlene finds her own buyer, does she owe Herb a commission? a.)No, because Arlene retained her exclusive right to sell b.)No, because she found her own buyer c.)Yes, because Arlene is not a real estate licensee d.)Yes, because exclusive right to sell means Herb gets paid no matter who finds the buyer

d.)Yes, because exclusive right to sell means Herb gets paid no matter who finds the buyer

How do you qualify to participate in the sale to owner-occupants in a new condominium project? a.)You must agree not to sell it for 48 months. b.)You must agree to live in the property as your primary residence and not rent it out more than two weeks during the first year. c.)You must sign an affidavit stating you intend to live in it as your primary residence for at least six months. d.)You must sign an affidavit stating you intend to live in it as your primary residence for at least the next 365 days.

d.)You must sign an affidavit stating you intend to live in it as your primary residence for at least the next 365 days. (You can't rent it at all during the first year, or sell it. If you violate the terms of the affidavit, you can be fined $10,000 or 50% of the proceeds from sale or rent, whichever is greater.)