HI State Real Estate Practice Exam QUESTIONS WITH 100% VERIFIED ANSWERS/////UPDATED VERSION 2025
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HI State Real Estate
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HI State Real Estate
HI State Real Estate Practice Exam QUESTIONS WITH
100% VERIFIED ANSWERS/////UPDATED VERSION 2025
A borrower in Hawaii defaulted on their home loan. The lender foreclosed on the property and sought additional legal action to collect remaining debt that was owed. What type of loan did the borr...
HI State Real Estate Practice Exam QUESTIONS WITH
100% VERIFIED ANSWERS/////UPDATED VERSION 2025
A borrower in Hawaii defaulted on their home loan. The
lender foreclosed on the property and sought additional
legal action to collect remaining debt that was owed.
What type of loan did the borrower have?=====recourse
loans, the debtor is personally liable for the debt. This
means that if the borrower defaults, the lender can take
the collateral (the home) and pursue the borrower for
remaining debts. In some cases, this may include levying
accounts or garnishing wages to collect what's owed.
Hawaii is a recourse state.
A broker license applicant needs which of these from the
PB or BIC?=====Certification of the applicant's tenure as
an active, full-time salesperson. Within 10 days of a
request from a broker applicant, the PB or BIC must
provide an experience certification that documents the
length of time the applicant was actively associated with
or employed full time by the brokerage firm.
A Hawaii escrow officer needs to calculate a proration for
a period of 12 days in February. How will this calculation
be performed?=====Hawaii routinely calculates
,prorations using a 360-day basis (30 days per month). To
calculate a proration, divide the annual cost by 360, then
multiply by the number of days in the month (12, in this
case) to be charged to the responsible party.
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?=====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. Under an agreement of sale arrangement,
the seller provides financing for the home and retains
legal title to the property until the purchase price is paid
off; the buyer holds equitable title.
A 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 high rise with residential, retail, and
entertainment space. The high rise is a planned unit
development, which is considered mixed-use zoning.
According to Hawaii law, which of these is an example of
commingling client funds?=====Kirstin deposited a
,client's earnest money check into the firm's operating
account. Commingling is combining client funds with
personal or business funds. In Hawaii, it's legal to hold an
earnest money check until an offer is accepted (with the
buyer's permission) and to deposit maintenance funds
into a trust account.
All brokerage firms must have a principal broker or
broker-in-charge at the principal place of business and at
least one broker-in-charge at any branch office. Which of
these statements is true?=====
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 ______.=====Mandatory
leasehold conversions through condemnation. The Land
Reform Act gave the state the authority to pursue
mandatory conversion of leasehold lands to fee simple
using condemnation for the purpose of providing
homeowners with fee simple title to their properties.
At what point may a developer begin selling
condominium units?=====
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?=====Terminate the contract by calling the
seller's agent
Based on the HAR Buyer Representation Contract, in
which of these situations must the buyer pay the agreed-
upon compensation to the brokerage firm?=====At the
last minute, Robert decides he doesn't want to close on
the property he and his broker found out.
Bobbie and Samantha enter into a contract for Samantha
to purchase Bobbie's home. Bobbie decides he doesn't
want to sell, and is elated when he finds out that
Samantha is only 17 years old. Can Samantha force
Bobbie to sell?=====Yes, Samantha can require that
Bobbie fulfill the contract terms. In the same way that a
legally incompetent party can void a contract while the
competent party cannot, a legally incompetent party can
enforce a contract should the competent party wish to
terminate.
Bylaws=====Detail owner's rights related to
condominium governance as well as the board's scope of
authority
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