2024 Hawaii Real Estate Exam State Only Questions with 100% Correct Answers

Land ownership documents are recorded in the public record at - Answer-Bureau of Conveyances in Honolulu The land classification containing the smallest amount of land state-wide is - Answer-Rural A division of land extending from the top of the mountain to the ocean is called - Answer-Ahupua'a A husband or wife may claim a 1/3 elective share of the other's estate at the decedent's death under what code? - Answer-Under Hawaii's Uniform Probate Code for properties sold after July 1, 1977. Under Hawaii's Uniform Probate Code, how much can a spouse claim at the decedent's death? - Answer-1/3 elective share for properties sold after July 1, 1977. Jackson Hillario exercised his right of election when his wife died and left everything to her exhusband. Will he receive real, personal, or nothing, or both? How much? - Answer-a portion of both her real and personal property, depending on how long they were married. At least one member of the board of directors of a Hawaii corporation must be: - Answer-a resident of Hawaii. T or F: A benefit of placing real property in a land trust may be that it avoids ancillary probate for non-residents. - Answer-True. T or F: A benefit of placing real property in a land trust may be that it allows the property to be registered in Land Court. - Answer-False. T or F: A benefit of placing real property in a land trust may be that it serves as an alternative to an agreement of sale. - Answer-True. T or F: A benefit of placing real property in a land trust may be that it prevents partitioning. - AnswerTrue.The beneficial interest of the owner of real property held in a land trust is considered what kind of property? - Answer-Personal property T or F: In Hawaii a partnership which participates in real estate dealings as part of its business must have an individual licensed broker designated as the principal broker of the brokerage business. - Answer-True. T or F: In Hawaii a partnership which participates in real estate dealings as part of its business must have all members of the partnership licensed, with one as a licensed broker in charge of the brokerage business. - Answer-False. It must have an individual licensed broker designated as the principal broker of the brokerage business. T or F: In Hawaii a partnership which participates in real estate dealings as part of its business must have all persons involved in the brokerage aspects of the business licensed as brokers. - AnswerFalse. It must have an individual licensed broker designated as the principal broker of the brokerage business. T or F: In Hawaii a partnership which participates in real estate dealings as part of its business must have a licensed broker to supervise the licensed salespersons but anyone who is licensed as a broker may operate independently on behalf of the partnership. - Answer-False. It must have an individual licensed broker designated as the principal broker of the brokerage business.