Hawaii-Specific Real Estate Practice
Exam-Graded A
Personal Property - correct Answer-Movable objects (chattels) that do not fit into the
definition of real property; conveyed by bill of sale.
Fixture - correct Answer-An item of personal property that has been converted to real
property by being permanently affixed to the land or building. Can be either attached or
annexed.
Metes and Bounds - correct Answer-To locate a property boundary requires two
permanent reference markers;
The boundary is measured from a specific point of beginning and proceeds around the
boundaries using reference to linear measurements and directions;
Boundaries may be established on the basis of actual distance between monuments
(fixed objects);
A boundary must return to the point of beginning so that the land described is fully
enclosed.
Rectangular (Government) Survey - correct Answer-Based on measurements from base
lines and principal meridians;
Designed to set up checkerboard pattern of identical squares over specific area.
Mineral rights - correct Answer-May be owned by the owner of the surface rights or by
separate third party owners of subsurface rights, such as natural gas or oil companies,
as well as by the developer or the homebuilder.
Air rights - correct Answer-The right to occupy, use, or control the space above a
property, such as homeowner purchasing these rights above a neighboring home to
protect his view.
Water rights - correct Answer-Ownership of water and land adjacent to it is determined
by state law, which is based on either the doctrines of the riparian and littoral rights or
on the doctrine of prior appropriation; generally have the right to use water so long as
they do not pollute or interrupt the flow.
Riparian rights - correct Answer-Rights granted to owners along a non-navigable river or
stream.
Littoral rights - correct Answer-Rights granted to owners along an ocean or large lake.
, All of the following are true in regard to trust funds EXCEPT - correct Answer-all funds
must be deposited within 48 hrs
When a condominium is sold, who is responsible for any unpaid condominium
assessments? - correct Answer-The grantor and grantee, jointly and severally.
According to the Uniform Land Sales Practices Act, when the purchaser of subdivided
land receives the public offering statement, he must also be given - correct Answer-a
written notice of a seven-day rescission right.
A tenant whose lease has terminated is entitled to his security deposit - correct Answer-
within 14 days.
All of the following are violations for which a licensee may be sanctioned - correct
Answer--being dependent on illegal drugs
-paying a referral fee to an unlicensed person.
-acting for both parties in a negotiation with one party's written consent.
The Carter Corporation is applying for a real estate license. Which of the following
needs to have a real estate broker license? - correct Answer-Andrea Blake, a Carter
officer who will directly manage Carter's brokerage business
Which of the following is likely to be specified in a condominium's bylaws? - correct
Answer-The method of selection of the association's board of directors
In a sales transaction, trust funds may be placed in an interest-bearing trust account as
agreed to by - correct Answer-the broker, buyer and seller.
Dower and curtesy will govern conveyance of ownership of a property in Hawaii -
correct Answer-if the property was purchased by a married couple before July 1, 1977.
When advertising property, the offering price - correct Answer-must equal the owner's
offering price.
Which of the following can serve as a licensee's place of business? - correct Answer-A
home occupation office that may be used as such under zoning laws
Cases of discrimination in real estate transactions in Hawaii are handled by - correct
Answer-the Hawaii State Civil Rights Commission.
When a buyer purchases an interest in U.S. real property from a foreign person, all of
the following are true - correct Answer-1) buyers are required by law to withhold 10% of
the amount realized.
2)the reason the withholding is required is to ensure the tax on the gain is paid.
3)the Hawaii Purchase Contract, signed by both the buyer and the seller, gives escrow
authority to withhold, if no certificate is given to the buyer.
Exam-Graded A
Personal Property - correct Answer-Movable objects (chattels) that do not fit into the
definition of real property; conveyed by bill of sale.
Fixture - correct Answer-An item of personal property that has been converted to real
property by being permanently affixed to the land or building. Can be either attached or
annexed.
Metes and Bounds - correct Answer-To locate a property boundary requires two
permanent reference markers;
The boundary is measured from a specific point of beginning and proceeds around the
boundaries using reference to linear measurements and directions;
Boundaries may be established on the basis of actual distance between monuments
(fixed objects);
A boundary must return to the point of beginning so that the land described is fully
enclosed.
Rectangular (Government) Survey - correct Answer-Based on measurements from base
lines and principal meridians;
Designed to set up checkerboard pattern of identical squares over specific area.
Mineral rights - correct Answer-May be owned by the owner of the surface rights or by
separate third party owners of subsurface rights, such as natural gas or oil companies,
as well as by the developer or the homebuilder.
Air rights - correct Answer-The right to occupy, use, or control the space above a
property, such as homeowner purchasing these rights above a neighboring home to
protect his view.
Water rights - correct Answer-Ownership of water and land adjacent to it is determined
by state law, which is based on either the doctrines of the riparian and littoral rights or
on the doctrine of prior appropriation; generally have the right to use water so long as
they do not pollute or interrupt the flow.
Riparian rights - correct Answer-Rights granted to owners along a non-navigable river or
stream.
Littoral rights - correct Answer-Rights granted to owners along an ocean or large lake.
, All of the following are true in regard to trust funds EXCEPT - correct Answer-all funds
must be deposited within 48 hrs
When a condominium is sold, who is responsible for any unpaid condominium
assessments? - correct Answer-The grantor and grantee, jointly and severally.
According to the Uniform Land Sales Practices Act, when the purchaser of subdivided
land receives the public offering statement, he must also be given - correct Answer-a
written notice of a seven-day rescission right.
A tenant whose lease has terminated is entitled to his security deposit - correct Answer-
within 14 days.
All of the following are violations for which a licensee may be sanctioned - correct
Answer--being dependent on illegal drugs
-paying a referral fee to an unlicensed person.
-acting for both parties in a negotiation with one party's written consent.
The Carter Corporation is applying for a real estate license. Which of the following
needs to have a real estate broker license? - correct Answer-Andrea Blake, a Carter
officer who will directly manage Carter's brokerage business
Which of the following is likely to be specified in a condominium's bylaws? - correct
Answer-The method of selection of the association's board of directors
In a sales transaction, trust funds may be placed in an interest-bearing trust account as
agreed to by - correct Answer-the broker, buyer and seller.
Dower and curtesy will govern conveyance of ownership of a property in Hawaii -
correct Answer-if the property was purchased by a married couple before July 1, 1977.
When advertising property, the offering price - correct Answer-must equal the owner's
offering price.
Which of the following can serve as a licensee's place of business? - correct Answer-A
home occupation office that may be used as such under zoning laws
Cases of discrimination in real estate transactions in Hawaii are handled by - correct
Answer-the Hawaii State Civil Rights Commission.
When a buyer purchases an interest in U.S. real property from a foreign person, all of
the following are true - correct Answer-1) buyers are required by law to withhold 10% of
the amount realized.
2)the reason the withholding is required is to ensure the tax on the gain is paid.
3)the Hawaii Purchase Contract, signed by both the buyer and the seller, gives escrow
authority to withhold, if no certificate is given to the buyer.
