Licensee Conduct 2
A person may collect up to how much from the Real Estate Recovery Fund?
$25,000 per transaction.
Who is responsible for ensuring that all associated real estate licensees are provided information and training on the latest changes to real estate licensing and other laws and rules?
The principal broker.
By permitting his license to be used by an unlicensed person or by acting as agent, partner or associate of an unlicensed person, a licensee may be...
fined.
The Real Estate Commission may refuse to renew, reinstate or restore a license...
for a criminal conviction of a penal crime directly related to the qualifications, functions or duties of a real estate licensee.
Trust account records must follow standard accounting principles, and contain...
for personal property received, an estimate of the property's value.
Agent Dewey Fields is representing sell Forest Grove. Dewey may put a FOR SALE sign on Forest's property once...
forest gives Dewey his written consent to the sign.
In the purchase, rental, lease or exchange of real property, a licensee must make his true position known to the property owner in writing, when the transaction is for...
himself, any member of his immediate family, or the brokerage.
The Real Estate Commission may refuse to renew, reinstate or restore a license for all of the following reasons EXCEPT...
making truthful although improbable statements.
A person who license has been revoked or automatically terminated.
may apply for a license as a new applicant after the revocation or termination period has passed and he has complied with all the terms of the Commission's preliminary order.
When acting as an agent in the management of property, a licensee...
may not profit on expenditures for or from an owner without the knowledge and consent of both the owner and principal broker or broker in charge.
If a home is listed for sale for $200,000, the listing licensee...
may tell another licensee, "Have your buyer offer whatever he feels he wants to pay. The seller is asking $200,000.
When advertising property, the offering price...
must equal the owner's offering price.
An unlicensed person who engages in an activity requiring a license is guilty of misdemeanor and subject to a fine of not more than...
$1000.
Once a license suspension is complete, the licensee has ____ days to reinstate the license.
30
Which of the following statements about brokerage trust accounts is FALSE?
Every Hawaii brokerage firm must maintain a trust fund account in Hawaii.
Which of he following is true regarding listings and sales agreements?
Exclusive listings must have a definite termination date.
When may Broker T compensate Salesperson F from Brokerage W n connection with a real estate transaction without paying directly or causing the payment to be made directly to Brokerage W?
If Salesperson F had been licensed with Broker T at the time he performed the functions for which he is being paid the commission.
A broker must maintain records of trust funds received. Which of the following is true of these records?
There records must be retained for three years.
Hawaii law dealing with discrimination in real property transactions applies to...
a homeowner who does not list his home with a broker and who refuses to negotiate a sale because of the potential buyer's ancestry.
The Real Estate Commission may revoke a person's license for any of the following reasons EXCEPT...
acting for both parties in connection with the transaction with their consent.
All of the following must be kept in special bank accounts, separated from the broker's own funds EXCEPT...
commissions.
The principal broker is responsible for...
establishing and maintaining a training program for all associated real estate licensees.
The Real Estate Commission may order an immediate or summary suspension for a period...
not to exceed 20 days.
A licensee may place a sign or ad indicating a property is for sale, rent, lease or exchange...
with the owner's written authorization and approval of the principal broker.
Without any special instructions in the offer, a broker must deposit earnest money into a trust . account or escrow...
within 1 business day of receipt
Prior to placing an ad or sign on a property for sale, rent, lease or exchange a licensee must have...
written authorization from the owner or seller of a property and the approval of the broker.
The Real Estate Commission rules require which of the following to supervise the agents of the brokerage?
Either the principal broker or broker in charge.
A buyers agent accompanies her client to an open house. She must disclose to the seller that she represents the buyer...
before negotiations begin.
Two of licensee Wesley Wolf's clients, seller Farley Fox and buyer Ben Badger, meet in his office, and Ben decided he wants to buy Farley's house. In order for this to happen...
both Farley and Ben must sign a written consent to dual agency.
A licensee disclosure of who he represents in the transaction must be...
confirmed in writing.
Good faith, obedience, and confidentiality are all ____ duties an Agent O's to his client or principal.
fiduciary
Hawaii anti-discrimination statutes...
protect persons from discrimination based on marital status, ancestry, disability, age and HIV infection.
A Hawaii brokerage firm must do each of the following EXCEPT...
register all of its branch offices with the Real Estate Commission.