Hawaii State Real Estate Questions (2024) Questions and Answers with complete

lands extending inland from the shoreline as delineated on the maps filed with the counties - 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 brokersalesperson shall not maintain or advertise a place of business other than the principal place of business - 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. - 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 all agency disclosures required by section 16-99-3.1 shall include that the principal place of business is located on a different island. - Answer-TRUE What kind of title does Vendee (buyer) initially receive in an agreement of sale? - Answer-Equitable Title Which closing is the conveyance tax paid in an agreement of sale? - Answer-First closing Which closing is legal title given in an Agreement of Sale? - Answer-2nd closing, as Equitable is given in the first closing. Conveyand tax paid on Satisfaction of Agreement of Sale. T or F - 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? - Answer-buyer or seller Time share 7 right of recision should be written or just oral? - Answer-Both written and 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 - Answer-TRUE The maximum allowable rate for USERY loans (person to person) is - Answer-1%/month OR 12%/year The agent of a distressed listing cannot have interest in it how long after the listing agreement? - Answer-365 days