Module 4 Hawaii Pre-Licensing Real Estate Exam With Complete Answers 2024.

Module 4 Hawaii Pre-Licensing Real Estate Exam With Complete Answers 2024. Which of the following best represents rescission of a contract? A) Option to purchase can be transferred by a lessee to a lessor B) Lease was terminated with the mutual agreement of both parties C) One of the parties can change the contract at a later date D) Offer to buy - correct answer B) Lease was terminated with the mutual agreement of both parties An offer, where no earnest money or deposit is given with the contract, is valid. A) True B) False - correct answer True. Deposits are not an indication of valuable consideration. There could be no money down and be a valid contract although the seller may question the sincerity of the offer with nothing down. After signing a contract for the sale of real estate, a deed can be given to a buyer or third party designated as the: A) Principal B) Assignee C) Grantor D) Escrow agent - correct answer B) Assignee The assignor is still liable for the consummation of the contract if the assignee defaults on the purchase. An agent is considered to have earned his commission when the: A) Listing contract is signed by the seller B) Title insurance policy is delivered to the buyer C) Title search is completed and title is recorded