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Hawaii Real Estate Exam State Portion Only (2 versions) ||Just
Out!!!
VERSION 1
Tina has fee simple ownership of her timeshare unit. Which of
these is NOT an example of the type of ownership she may
have?
a.)Interval ownership
b.)Right-to-use
c.)Tenancy in common
d.)Timeshare estate - ANSWER-b.)Right-to-use
When is agency disclosure required in a timeshare sale in
Hawaii?
a.)Always.
b.)If the property was built after 2010.
c.)Never; timeshares are exempt from disclosure requirements.
d.)When the timeshare will be for one year or longer. -
ANSWER-a.)Always.
The Hawaii Land Use Commission arranges for special use
permits in which land use district?
a.)Commercial
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b.)Conservation
c.)Rural
d.)Urban - ANSWER-c.)Rural
The county with the highest property tax rate in Hawaii is
________.
a.)Hawaii County
b.)Honolulu County
c.)Kauai County
d.)Maui County - ANSWER-a.)Hawaii County
The Hawaii Condominium Property Act requires that developers
designate which percentage of condo developments to initially
be sold to buyers who plan to occupy their units?
a.)20%
b.)40%
c.)50%
d.)60% - ANSWER-c.)50%
A Hawaii seller is providing financing to a buyer under an
agreement of sale arrangement. Which statement best
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summarizes who holds title to the property in a seller financing
situation?
a.)The buyer receives both legal and equitable title to the
property upon recordation of the transaction.
b.)The buyer receives legal title to the property while the seller
holds equitable title to the property until the agreement of sale
terms are fulfilled..
c.)The seller retains legal and equitable title to the property
until the buyer fulfills the terms of the agreement of sale.
d.)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. - ANSWER-d.)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.
Jonah recently sold his Kauai beachfront property for $650,000.
Morgan sold his Oahu Property for $650,000. Jonah's
conveyance tax was higher than Morgan's. How can this
happen?
a.)Beachfront property conveyance tax rates are higher than
inland rates.
b.)Jonah isn't eligible for a homeowner's property tax
exemption, so his tax rate is higher.
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c.)Morgan's property was smaller, and conveyance tax rates
differ based on property size.
d.)The conveyance tax owed is based on the profit made by the
seller. - ANSWER-b.)Jonah isn't eligible for a homeowner's
property tax exemption, so his tax rate is higher.
Hawaii license laws describe required pre-licensure education,
define activities that require a license, describe standards of
conduct, and enforce these standards. Why do they do this?
a.)To earn money from Hawaii real estate licensees
b.)To protect consumers
c.)To protect licensees
d.)To protect the Hawaii Real Estate Commission - ANSWER-
b.)To protect consumers
The HAR purchase contract contains the phrase, ______,
reminding the parties to avoid unnecessary delays to the
transaction and to adhere to all contract dates.
a.)Haste makes waste
b.)Patience is a virtue
c.)Seek the advice of an attorney
d.)Time is of the essence - ANSWER-d.)Time is of the essence
Hawaii Real Estate Exam State Portion Only (2 versions) ||Just
Out!!!
VERSION 1
Tina has fee simple ownership of her timeshare unit. Which of
these is NOT an example of the type of ownership she may
have?
a.)Interval ownership
b.)Right-to-use
c.)Tenancy in common
d.)Timeshare estate - ANSWER-b.)Right-to-use
When is agency disclosure required in a timeshare sale in
Hawaii?
a.)Always.
b.)If the property was built after 2010.
c.)Never; timeshares are exempt from disclosure requirements.
d.)When the timeshare will be for one year or longer. -
ANSWER-a.)Always.
The Hawaii Land Use Commission arranges for special use
permits in which land use district?
a.)Commercial
,2|Page
b.)Conservation
c.)Rural
d.)Urban - ANSWER-c.)Rural
The county with the highest property tax rate in Hawaii is
________.
a.)Hawaii County
b.)Honolulu County
c.)Kauai County
d.)Maui County - ANSWER-a.)Hawaii County
The Hawaii Condominium Property Act requires that developers
designate which percentage of condo developments to initially
be sold to buyers who plan to occupy their units?
a.)20%
b.)40%
c.)50%
d.)60% - ANSWER-c.)50%
A Hawaii seller is providing financing to a buyer under an
agreement of sale arrangement. Which statement best
,3|Page
summarizes who holds title to the property in a seller financing
situation?
a.)The buyer receives both legal and equitable title to the
property upon recordation of the transaction.
b.)The buyer receives legal title to the property while the seller
holds equitable title to the property until the agreement of sale
terms are fulfilled..
c.)The seller retains legal and equitable title to the property
until the buyer fulfills the terms of the agreement of sale.
d.)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. - ANSWER-d.)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.
Jonah recently sold his Kauai beachfront property for $650,000.
Morgan sold his Oahu Property for $650,000. Jonah's
conveyance tax was higher than Morgan's. How can this
happen?
a.)Beachfront property conveyance tax rates are higher than
inland rates.
b.)Jonah isn't eligible for a homeowner's property tax
exemption, so his tax rate is higher.
, 4|Page
c.)Morgan's property was smaller, and conveyance tax rates
differ based on property size.
d.)The conveyance tax owed is based on the profit made by the
seller. - ANSWER-b.)Jonah isn't eligible for a homeowner's
property tax exemption, so his tax rate is higher.
Hawaii license laws describe required pre-licensure education,
define activities that require a license, describe standards of
conduct, and enforce these standards. Why do they do this?
a.)To earn money from Hawaii real estate licensees
b.)To protect consumers
c.)To protect licensees
d.)To protect the Hawaii Real Estate Commission - ANSWER-
b.)To protect consumers
The HAR purchase contract contains the phrase, ______,
reminding the parties to avoid unnecessary delays to the
transaction and to adhere to all contract dates.
a.)Haste makes waste
b.)Patience is a virtue
c.)Seek the advice of an attorney
d.)Time is of the essence - ANSWER-d.)Time is of the essence
