Hawaii Real Estate Exam State Only Guide questions with verified answers 2025 Qs A project may be removed from the CPR by what vote? - n ANS Agreement of the unit owners of 80% of the common interest. Qs T or F: Individual condo unit owners may insur

Hawaii Real Estate Exam State Only
Guide questions with verified
answers 2025

Qs
A project may be removed from the CPR by what vote? - n
ANS✔
Agreement of the unit owners of 80% of the common interest.


Qs
T or F: Individual condo unit owners may insure their units separately. - n
ANS✔
True.


Qs
T or F: A homeowner exemption on real property taxes is not available on
condominiums. - n
ANS✔
False.


Qs
T or F: Real property taxes are assessed on the entire project and prorated
according to each unit owner's percent of common interest. - n
ANS✔
False.


Qs
Ownership of a cooperative apartment is by way of: - n
ANS✔

,a proprietary lease.


Qs
One feature of ownership shared by condominiums and co-op regarding land is: - n
ANS✔
Ownership of the land itself may be leasehold or fee simple.


Qs
What is a higher density development with smaller lots, closer dwellings and
recreational space set aside for the use of all owners and tenants? - n
ANS✔
Planned Development Housing.


Qs
T or F: The members of a board of directors of a condominium and a real estate
licensee both have a fiduciary duty to their association or principal. - n
ANS✔
True.


Qs
T or F: The members of a board of directors of a condominium and a real estate
licensee are both empowered to make major decisions on behalf of their association
or principal. - n
ANS✔
False. They both have a fiduciary duty to their association or principal.


Qs
T or F: When a leasehold condominium is converted to fee simple land ownership
the owner/lessor of the land must first offer the association a first right of refusal to
buy the fee simple interest. - n
ANS✔
True.

, Qs
T or F: When a leasehold condominium is converted to fee simple land ownership
the association has 120 days to accept or reject the offer. - n
ANS✔
True.


Qs
T or F: When a leasehold condominium is converted to fee simple land ownership
seventy-five percent of the unit owners must vote to approve the purchase. - n
ANS✔
True.


Qs
T or F: When converting an existing rental property to a condominium the existing
tenants must be given the first right of refusal to purchase their units in fee simple.
-n
ANS✔
True.


Qs
T or F: When converting an existing rental property to a condominium the existing
tenants have the first right of refusal only if they are current on their rent
payments. - n
ANS✔
False.


Qs
T or F: When converting an existing rental property to a condominium under the
anti-discrimination laws, the tenants have no greater rights than the general public
to purchase the units. - n
ANS✔
False.