National Real Estate Exam Hawaii Questions & Answers Already Graded A +
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Course
National Real Estate Hawaii
Institution
National Real Estate Hawaii
A prospective buyer made an offer to purchase a property. The owner responded with a counteroffer.
While the buyer was reviewing the counteroffer, the owner received a better offer. The owner can accept
the second offer if - the owner withdraws the counteroffer before it is accepted.
Two lots of...
National Real Estate Exam Hawaii
A prospective buyer made an offer to purchase a property. The owner responded with a counteroffer.
While the buyer was reviewing the counteroffer, the owner received a better offer. The owner can accept
the second offer if - the owner withdraws the counteroffer before it is accepted.
Two lots of the same size are sold on a street. The lot on the corner sells for $20,000 more than the lot in
the middle of the street. Which of the following characteristics MOST likely explains the price difference?
- Situs.
A couple signed a lease on an apartment for a period of 1 year. The lase does NOT contain a automatic
renewal clause. The couple plans to move out at the end of the lease rather than renew it. How much
notice MUST they give to comply with the lease term? - No notice required.
A salesperson lists a property with a contract that allows for sub agency and dual agency. The
salesperson is - an agent to the broker and subagent to the principal.
What is the term used for the person or organization who acts as an intermediary for the purpose of
obtaining financing? - Mortgage broker.
Which of the following events would AUTOMATICALLY cancel a listing agreement? - Property
owner's death.
The sellers have agreed to give the buyers an allowance of $16.95 per square yard to retile the kitchen. If
the kitchen is 10ft x 14 ft, how much will it cost the sellers (to the nearest dollar)? - $264.
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the tenant paid 1
month's rent and got a receipt. What kind of leasehold does the tenant have? - Tenancy at will.
If a borrower can afford to make monthly principal and interest payments of $1,000 and the lender will
make a 30-year loan at 8 1/2%, how large a loan (rounded to the nearest $100) can this buyer afford? (BE
SURE TO USE THE AMORTIZATION TABLE) - $130,000
,A major reason for buying and owning a condominium rather than a detached single family home is that
- a condominium tends to be more affordable.
In MOST states, when a first mortgage is foreclosed and the property has been sold, junior liens -
no longer have any claim on the property.
The amount of commission to be paid is - agreed upon by the seller and agent on the contract.
The terms "littoral," riparian," and "appropriative" refer to - water rights.
The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the
adjustment made at closing? - Credit buyer $110,000; no adjustment to seller.
The real estate broker who is listing a house for sale should personally verify - the number of
square feet in the building.
When someone has living heirs but dies without leaving a will, the estate is distributed according to the -
statute of descent
A mentally disabled person who has been declared incompetent by a judge wished to enter into a
contract. Under what conditions can such a person do so? - The person appointed by the court to
act for the disabled person must contract on his or her behalf.
Ownership of common stock in a corporation gives - an interest that is classified as personal
property.
A deed restriction is applicable to the activities of - present and future owners.
A judgment has been properly recorded. Any subsequent purchasers, whether they have actually
examined the record or not, have been given - constructive notice.
, Antitrust laws prohibit competing brokers from all of the following EXECPT - receiving
compensation from both the buyer and the seller.
An appraiser MUST be licensed or certified to handle Federally related work on residential property
valued at more than - $250,000
Too much leverage may result in - negative cash flow
Whish of the following BEST illustrates the concept and intent of a buffer zone? - Garden
apartments located between a single-family residential neighborhood and a shopping center.
At the closing on June 16, the buyer is assuming a mortgage presently on the property, on which the
monthly interest charge is currently $600. The seller has made the payment due on June 1. Assuming a
VA mortgage, what is the adjustment made at closing? - Debit seller $300; credit buyer $300.
When one of the parties to an agreement fails to perform one of its conditions, that contract is deemed
to be - breached.
The statement "this property has the most beautiful views in the neighborhood" is an example of -
puffing.
The FHA (Federal Housing Admin) functions MOST like - an insurance company.
A broker lists a property, with a listing contract allowing sub agency and dual agency. One of the broker's
salespersons shows the property. The salesperson would be classified as - a subagent of the seller.
A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called - a
contract.
In an exclusive right-to-sell listing, an owner lists the property for sale with how many brokers? -
One.
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