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Hawaii State Real Estate Questions and Answers Best rated A+ Guaranteed Success Latest Upd, Exams of Real Estate Management

Widener University - DelawareReal Estate Management

Name the additional rotective groups Hawaii's discrimination law has that the Federal Fair House Law excludes. - Correct Answer-ancestry, disability, age, HIV infection, and use of guide or signal dog or service animal. Of the common protected classes in the Federal Fair Housing and Hawaii Discrimination Laws, how do they differ in scope or the type of transactions covered? - Correct Answer-Federal applies to housing only, Hawaii Discrimination laws apply to all Real Estate transactions.

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Hawaii State Real Estate Questions and
Answers Best rated A+ Guaranteed
Success Latest Update
Name the additional rotective groups Hawaii's discrimination law has that the Federal
Fair House Law excludes. - Correct Answer-ancestry, disability, age, HIV infection, and
use of guide or signal dog or service animal.
Of the common protected classes in the Federal Fair Housing and Hawaii
Discrimination Laws, how do they differ in scope or the type of transactions covered? -
Correct Answer-Federal applies to housing only, Hawaii Discrimination laws apply to all
Real Estate transactions.
According to the Hawaii discrimination laws, how long does one have to file? - Correct
Answer-180 days for Hawaii Law. Note the Federal law allows 2 years.
A brokerage firm may associate or employ a salesperson or broker- salesperson who
resides on an island different from that of the principal place of business, provided that
all agency disclosures required by section 16-99-3.1 shall include that the principal
place of business is located on a different island. - Correct Answer-TRUE
What kind of title does Vendee (buyer) initially receive in an agreement of sale? -
Correct Answer-Equitable Title
Which closing is the conveyance tax paid in an agreement of sale? - Correct Answer-
First closing
Which closing is legal title given in an Agreement of Sale? - Correct Answer-2nd
closing, as Equitable is given in the first closing.
Conveyand tax paid on Satisfaction of Agreement of Sale. T or F - Correct Answer-
False. It is paid on 1st closing when purchased initally. It is also paid when conveyed by
a General Warranty Deed.
Time share 7 right of recision allows who to cancel? - Correct Answer-buyer or seller
Time share 7 right of recision should be written or just oral? - Correct Answer-Both
written and oral.
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Hawaii State Real Estate Questions and

Answers Best rated A+ Guaranteed

Success Latest Update

Name the additional rotective groups Hawaii's discrimination law has that the Federal Fair House Law excludes. - Correct Answer-ancestry, disability, age, HIV infection, and use of guide or signal dog or service animal. Of the common protected classes in the Federal Fair Housing and Hawaii Discrimination Laws, how do they differ in scope or the type of transactions covered? - Correct Answer-Federal applies to housing only, Hawaii Discrimination laws apply to all Real Estate transactions. According to the Hawaii discrimination laws, how long does one have to file? - Correct Answer-180 days for Hawaii Law. Note the Federal law allows 2 years. A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on an island different from that of the principal place of business, provided that all agency disclosures required by section 16- 99 - 3.1 shall include that the principal place of business is located on a different island. - Correct Answer-TRUE What kind of title does Vendee (buyer) initially receive in an agreement of sale? - Correct Answer-Equitable Title Which closing is the conveyance tax paid in an agreement of sale? - Correct Answer- First closing Which closing is legal title given in an Agreement of Sale? - Correct Answer-2nd closing, as Equitable is given in the first closing. Conveyand tax paid on Satisfaction of Agreement of Sale. T or F - Correct Answer- False. It is paid on 1st closing when purchased initally. It is also paid when conveyed by a General Warranty Deed. Time share 7 right of recision allows who to cancel? - Correct Answer-buyer or seller Time share 7 right of recision should be written or just oral? - Correct Answer-Both written and oral.

lands extending inland from the shoreline as delineated on the maps filed with the counties - Correct Answer-Special Management Area (SMA) A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on an island different from that of the principal place of business, provided that the salesperson or broker-salesperson shall not maintain or advertise a place of business other than the principal place of business - Correct Answer-TRUE A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on an island different from that of the principal place of business, provided that any advertisements on an island different from that of the principal place of business shall disclose the name of the brokerage firm and the address and phone number of the principal place of business. - Correct Answer-TRUE time share acquisition agents who are not licensed as sales persons still must be registered with the Commission as a time share acquisition agent. T or F - Correct Answer-TRUE The maximum allowable rate for USERY loans (person to person) is - Correct Answer- 1%/month OR 12%/year The agent of a distressed listing cannot have interest in it how long after the listing agreement? - Correct Answer-365 days DE MINIMUS STRUCTURE limits old survey erros starting at 3 inches for commercial, then... - Correct Answer-6 inches residential, 9" agricultural, 18" conservational Can a landlord charge for a security deposit equal to 1 months rent plus a pet deposit if applicable? - Correct Answer-No. The deposit must not exceed 1 months rent period. How do are private clubs allowed different exemptions in Federal law vs Hawaii? - Correct Answer-Federal law allows discrimination for private clubs. Hawaiian law does not exempt such private clubs. To create a condominium, a developer shall execute and record a ______ together with a master deed or lease of the property, bylaws and a condominium property map. It is the most important document in the creation of a condominium. - Correct Answer- declaration Uniform Land Sales Practices Act (ULSPA) allows how many days for the purchaser to rescind the purchase? - Correct Answer-7 days. Condo bylaws take what percentage to change amendments? - Correct Answer-67% of unit owners

For tenancies which are less than month-to-month, a written notice must be given to the tenants at least 30 days prior to increasing the rent. - Correct Answer-False. For tenancies which are less than month-to-month, a written notice must be given to the tenants at least 15 days prior to increasing the rent. Which one is NOT true under Hawaii's Landlord Tenant Code? A. The lease may require that the tenant notify the landlord if he is to be absent for an extended period. B. Hawaii's rent control laws are among the best in the nation. C. A landlord can lock a tenant out overnight if he believes the tenant is abusing the premises. D. The code does not apply to a buyer who is purchasing a house and moves in, with the seller's permission, prior to closing. - Correct Answer-B. Hawaii's rent control laws are among the best in the nation. The order of the TMK (Tax Map Key) numbers are Division, Section, Zone, Plat-Parcel, CPR. T or F - Correct Answer-False. The order: Division, ZONE, Section, Plat-Parcel, CPR When is Deed in Land Court (Torrens System) officially recorded? - Correct Answer- When its been assigned a number a the bureau. In land court, title is transferred upon registration, not upon delivery of the deed as in the regular system. T or F - Correct Answer-True. Land trust is an alternative to Agreement of Sale. T or F - Correct Answer-True. What type of contract has 2 closings? - Correct Answer-Agreement of Sale. 1st closing conveyance tax is paid. 2nd closing (when loan is paid back) title is transferred. What happens to a tenant's lease when property is sold? - Correct Answer-It does not affect the tenants lease. If the seller finds an inaccuracy in the disclosure statement the seller shall provide the buyer an amended disclosure statement within 10 calendar days of the discovery. - Correct Answer-True. And the buyer shall have 15 calendar days to examine the amended statement Hawaii usury law applies to interest charged on loans by _____. - Correct Answer- Private parties. Usury law protects borrower. T or F - Correct Answer-True. Real Estate Broker can share commission with the mortgage broker. T or F - Correct Answer-False.

What does an appraiser use that the market value (CMA) doesn't? - Correct Answer- Highest and best use. Person who is employed by an association will start to rent on units on behalf of the association. What DOESNT have to happen for the employee to rent of units? (a) employee needs to live in the building; (b) need 67% of owners to approve; (c) employee needs a real estate license; (d) needs BOD approval. - Correct Answer-A How long does an owner get to claim a home back, if it was repossessed because you didn't pay your taxes? - Correct Answer-1 year What are the two types of foreclosures in Hawaii? - Correct Answer-Judicial & Non- judicial What happens to a contract when one party cannot fulfill their terms? (a) void; (b) voidable; (c) terminated; (d) valid. - Correct Answer-C. terminated If a buyer wants to purchase leasehold property with hula mae financing, what are the requirements for the leasehold property? Minimum of ___ years left on the lease and ___ years of fixed lease rent. - Correct Answer-Minimum of 35 years left on the lease and 10 years of fixed lease rent. Who's signature needs to be on a deed? - Correct Answer-Grantor An agent moves to Hawaii from another state. Six years later, the agent receives a disciplinary notice from the state he/she came from? How many days does the agent have to notify the Real Estate Commission about the disciplinary action? - Correct Answer-30 days Who would need to have a real estate license? (a) resident manager of an 18 unit apartment, who shows vacant units to prospective renters; (b) property manager who takes care of 3 dwellings for one owner and is the owner's only employee. - Correct Answer-(a) Someone who manages real estate holding for one owner does not need a license. The condo/coop resident manager does tho. Your CPA recommends that you create an LLC. What should you do? (a) take his advice, create the LLC and immediately remit your commissions through the LLC; (b) run your commissions through the LLC after reporting to the licensing commission that you have created the LLC. - Correct Answer-(b)? What doesn't have to do Shorelines? (a) vegetation line; (b) accretion; (c) riparian rights; (d) survey dept., Dept. of Land and Natural Resources. - Correct Answer-(d)? If a homeowner rents out 4 of the rooms in his home and lives in the 5th room, can he discriminate against any protected class? - Correct Answer-Yes

Who selects the Title company? - Correct Answer-Buyer Which land classification is the counties in Hawaii able to change zoning and building codes on without state approval? - Correct Answer-Urban