HAWAII EXAM PRACTICE QUESTIONS & ANSWERS, 100% ACCURATE/ VERIFIED.| latest update 2024/25|

HAWAII EXAM PRACTICE QUESTIONS & ANSWERS, 100% ACCURATE/ VERIFIED. Which agency enforces Title II under the Americans with Disabilities Act of 1990, when it relat es to state and local public housing, housing assistance, and housing referrals? - ✅✅ -Department of Housing and Urban Development Which task is NOT the responsibility of an escrow officer? Determine how earnest money is to be distributed in case of a di spute. Manage transaction documents from all parties. Prepare closing documents and manage the closing meeting. Verify funding of the buyer's loan. - ✅✅ -Verify funding of the buyer's loan. Tustin Development just released its first block of condo units for sale. If Jen purchases one of these first units, to which of these might she be required to agree? - ✅✅ -To live in the unit for at least one year The landlord must file the eviction suit within ______ days of the lease expiration. - ✅✅ -60 Marcus died without a will and with no known heirs. What happens to his real property? - ✅✅ -After 15 years, the state may acquire the property through the process of escheat. Ad valorem taxes are based on what? - ✅✅ -The property's assessed value As late as the 1960s, a significant portion of Hawaii lands were leasehold rather than fee simple. The Land Reform Act of 1967 provided for ______ - ✅✅ -Mandatory leasehold conversions through condemnation Stan is stubbornly dragging his feet in sending the escrow agent information about his loan so the escrow officer can get Stan's loan payoff data. Which Hawaii document addresses how Stan should be working with escrow? - ✅✅ -Escrow instructions The Hawaii Condo minium Property Act requires that developers designate which percentage of condo developments to be sold to buyers who plan to occupy their units? - ✅✅ -50% HARPTA - ✅✅ -Hawaii Real Property Tax If not exempt, how much are buyers required to withhold from HARPTA? - ✅✅ -7.25% of sales price Tabitha included an inspection contingency in her purchase contract. After an expert property inspection, Tabitha became concerned about the safety of the property. Before the deadline stated in the contract, Tabitha's ag ent called the listing agent to terminate the contract. Which of these statements is true? -Tabitha is only permitted to terminate the contract after attempting to negotiate with the seller. -Tabitha's agent should have provided written notice of the co ntract termination. -Tabitha should have contacted the seller directly to terminate the contract. -The seller must return Tabitha's earnest money deposit. - ✅✅ -Tabitha's agent should have provided written notice of the contract termination. In a tax map key, what does CPR stand for? - ✅✅ -Condominium property regime What is the island number for each county? (TMK number) - ✅✅ -1 Oahu 2 Maui 3 Big Island 4 Kauai Can a business advertise "NO GET Tax" on their shop, if they cover the tax expens e? - ✅✅ -No How many days before foreclosure can one exercise the right of redemption? - ✅✅ -3 days If a party doesn't have legal capacity and enters into a contract anyway, the contract is voidable by which party? - ✅✅ -the party lacking legal capacity Jason, the seller, signed the closing documents on his house on June 15. Escrow verified the deposit of good funds on June 17. Sierra, the buyer, signed her closing documents on June 18. Escrow recorded the deed and mortgage documents on June 19. What is the closing date? - ✅✅ -June 19 Ron and Eliana are neighbors. Ron wants to buy Eliana's Maui rental property. In the contract that Ron and Eliana sign, Ron is identified only as "the neighbor." Which statute or contract element does this violate? - ✅✅ -Statue of Frauds Carlton signed a contract to build an addition to Tom's Oahu house on March 1. He began work March 15. He completed work on May 21. On May 31, he filed an application for a lien. If approved, what is the date the lien attaches to the property? - ✅✅ -March 15 Kyla is a broker who's been designated by her brokerage company to oversee all brokerage operations. What is Kyla's role? - ✅✅ -Principle Broker When an owner sells a property that's subject to a lease agreement, the new owner has ___ days to notify tenants of the security deposit transfer. - ✅✅ -20 In Hawaii, any encroachment beyond the ______ will require an encroachment agreement. - ✅✅ -De minimis Ele, a property manager in Kapalua, understands that she can only pay for certain items from f unds deposited in a trust account. Which of the following is a legal use of funds from the account? Administrative expenses for Ele's office Monthly invoice for building -wide internet service Repair of a damaged wall after the tenant in 3B moves out Weekly salary checks for the maintenance staff - ✅✅ -Repair of a damaged wall after the tenant in 3B moves out (Trust accounts hold tenant security deposits, which can be used to make repairs if the tenant moves out without leaving the unit in good condit ion.) Consuela, a real estate salesperson, wants to move from American Homes to Acme Real Estate Sales. What must she do to legally accomplish this? - ✅✅ -Obtain a release from the broker at American Homes For the real estate industry, what's the primary impact of the PASH decision? - ✅✅ -The ambiguous nature of the decision places into question what access property owners can and can't prohibit. Sonja's condo purchase was recorded with the Bureau of Conveyances. This provides constructive notice that prop erty title has transferred. What does this mean? - ✅✅ -When publicly recorded, information is readily available to anyone who performs a proper search. Morris purchased one of the first units in a Maui condominium developer's project. Six months after the project, he's seeking to rescind his purchase contract. Under which of these situations is he likely to be permitted to do this? His condo, which he purchased for $479,000, has lost more than 20% of its value since purchase. Morris has been transferred to Arizona for his job.