Hawaii Broker Practice Exam

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• What is the primary role of an exchange agent in a timeshare program?
• What is true about a lease option in real estate transactions?
• What is the requirement for claiming adverse possession in Hawaii?
• What is a key feature of a Minimum Percentage lease?
• What happens if a landlord notifies a tenant of rent being past due and the tenant does not remedy the situation within 5 days?
• What is the liability of a limited partner in a partnership?
• A mortgage in Hawaii creates what type of encumbrance?
• What is the time allotted to pay the fee for converting a license to a different entity type?
• What options does a tenant have if a rental unit is not available in the agreed condition?
• What was established as a result of the Great Mahele in Hawaii?
• For how long must a person possess property in Hawaii to claim adverse possession?
• During the notice period for terminating a month-to-month rental, what right does the tenant have?
• What is a key aspect of a deficiency judgment?
• What is meant by 'Equitable Title' in real estate?
• What happens if a licensee fails to renew their license before December 31?
• When assisting a client with paperwork, a real estate agent is permitted to do what?
• How long before recording does the Bureau of Conveyances require escrow to have good funds in hand?
• Which functions can only be performed by licensed personal assistants in real estate?
• What is the minimum amount for a fidelity bond required by a condo managing agent?
• Who is responsible for paying the Transient Accommodation Tax?
• What type of lots are exempt from subdivision regulations in the Uniform Land Sales Practices Act?
• What triggers the requirement for additional credit terms in advertisements?
• Which of the following protects military tenants in a rental agreement?
• Where is the Bureau of Conveyances located?
• What is required to create a Condominium Property Regime?
• Which land use district in Hawaii is primarily composed of agricultural land?
• What is a C Corporation primarily characterized by?
• What is the minimum time frame a landlord has to begin emergency repairs?
• In terms of Hawaii's Fair Housing Law, which is NOT a protected class?
• If a tenant is locked out overnight without cause, what are they entitled to?
• What action can a tenant take if the landlord fails to make necessary repairs?
• Who is responsible for rendering a decision in an arbitration process?
• What is the payment cycle for loan payments in relation to interest?
• Which of the following items is NOT typically considered a closing cost?
• What is required for an association's employees to sell or rent units in the condominium they are employed at?
• How many members serve on the Real Estate Commission in Hawaii?
• Under which circumstance can a landlord terminate a lease immediately?
• An important requirement in the Land Court is consistency in what?
• Who can appoint a trustee in bankruptcy in Hawaii real estate?
• Which of the following is a requirement for a condo managing agent?
• The Shoreline Protection Act established a minimum distance for what type of area?
• Which of the following is NOT a Hawaii usury exemption?
• Which statement accurately describes the government's authority regarding invasive species on private property?
• Which type of land was owned outright by chiefs during the Great Mahele?
• Which of the following properties cannot have title claimed by adverse possession in Hawaii?
• What is the tax status of an S Corporation?
• What is a requirement for an S Corporation in Hawaii?
• What type of rental is subject to the Transient Accommodation Tax?
• Which condition regarding material facts is NOT part of the SRPDS disclosure?
• What may occur if a licensee fails to comply with renewal requirements prior to the deadline?
• If a landlord fails to maintain the premises, what can a tenant do?
• What must a broker do when practicing on a different island than their principal place of business?
• What does the Condominium Property Act (CPA) govern?
• What kind of material facts must be disclosed on the SRPDS?
• Under which law does the Residential Landlord-Tenant Code fall?
• Which of the following groups is eligible for additional Hawaii tax exemptions?
• What is the minimum fidelity bond amount required for condominium hotel operations?
• In a condominium, how are the units owned?
• What is true about the Land Court System in Hawaii?
• Which of the following is an exemption from registering under the Uniform Land Sales Practices Act?
• What type of rental agreement is defined as having a specific start and end date?
• In commercial leasing, what is typically the basis for how office space is leased?
• What does a condition in property ownership imply?
• What condition must be met for a husband to hold a curtesy right?
• What is the purpose of the Condominium Management Education Fund?
• What signifies the completion of construction in relation to a mechanics lien?
• What is NOT a characteristic of a license?
• What is the core focus of the Shoreline Setback Statute?
• What can a tenant claim if they spend money to repair something the landlord was supposed to?
• In property law, what right does a license NOT give the holder?
• What is the agency relationship between licensees and the Principal Broker (PB)?
• How long is the term for members of the Real Estate Commission?
• When is the second tax payment in Hawaii due?
• Which of the following refers to land owned by the government?
• What is the primary use of funds in the Real Estate Education Fund?
• In what type of district do counties have jurisdiction alongside the Land Use Commission?
• Which type of use would a loan need to satisfy to fall under TILA?
• Upon discovering a health or safety violation, how quickly must a landlord begin repairs?
• How long is an experience certificate valid?
• What must a broker do concerning commission payments?
• What is required under FIRPTA for buyers purchasing property?
• How recent must the SRPDS be completed before acceptance?
• Which of the following statements is true regarding Hawaii's status as a homestead state?
• Which of the following must a landlord provide within 14 days of lease termination?
• What is unique about a land trust in Hawaii?
• What does the term 'reciprocal beneficiaries' refer to in Hawaii?
• When must a landlord return the security deposit statement to the tenant after lease termination?
• What assumption is made if a landlord does not create a written inventory at the start of the lease?
• What percentage of the estate can a surviving spouse claim under an elective share in Hawaii?
• When must a broker notify licensees of an office closure?
• How does a declaration or bylaws become valid in condominium management?
• How long does a condo board have to respond to a request for document review?
• What is required if a principal broker (PB) is absent for more than 30 days?
• Can a BIC be designated to more than one branch office?
• In a Variable Scale lease, how can the percentage rate change?
• What aspect does HRS 515 broaden regarding national origin?
• What is the comprehensive role of the Department of Health in relation to water in Hawaii?
• What type of damages can arbitrators order under the Revised Uniform Arbitration Act?
• What percentage of land is classified as Urban District in Hawaii?
• What is the consequence for failing to pay attention to the Do Not Call Registry guidelines?
• What does the Revised Uniform Arbitration Act (RUAA) allow arbitrators to do?
• What is the notification time for a licensee to report changes such as name or address to the commission?
• How many days written notice must a military tenant provide to terminate the lease due to relocation orders?
• Which of the following cannot be delegated by the Real Estate Commission?
• Which type of lease allows for holdover tenancy?
• What is a licensee's responsibility under the residential disclosure law?
• What maximum amount can a person recover from the Real Estate Recovery Fund per transaction?
• What is the requirement for publishing a Notice of Intent to Foreclose?
• What does a license represent in property law?
• What is an exception for commingling funds?
• What type of appraisal approach uses the costs of reproduction or replacement?
• How often must a condo managing agent renew their registration?
• What is the primary legal provision regarding inheritance for a surviving spouse in Hawaii?
• What does a covenant entail in real estate?
• When must the Hawaii State Civil Rights Commission respond to discrimination complaints?
• In a fixed-term rental agreement, what happens if the tenancy becomes automatic after the end of the term?
• What must occur before an escrow can close according to the Hawaii Good Funds Act?
• When discussing the APR, which of the following is true?
• Which of the following is NOT an appraisal approach?
• Small farms of between one half acre and two acres would most likely be found on land zoned as?
• What is the effective date for filing a Mechanical Lien?
• What is the consequence for a seller if they default on a purchase contract?
• How long does a filer have to enforce a mechanics lien before it expires?
• What is generally excluded from the gross rentable area?
• What characterizes the Rural District in Hawaii?
• What are the essential guidelines for a broker's principal place of business?
• Which type of leasehold estate has a definite fixed period of time?
• What is true about the termination of a fixed-term lease?
• What is a characteristic of a Strip Center?
• When is the Affiliated Business Arrangement Disclosure required?
• What must be included in advertising for a real estate licensee?
• When can commission be paid to an out-of-state broker?
• Which of the following is an exemption to the requirement of the SRPDS in residential property?
• What is a requirement for limited partners regarding partnership operations?
• What does the SRPDS require disclosure of regarding environmental hazards?
• What occurs during a strict foreclosure?
• What is a requirement when advertising leasehold property?
• What is the financial liability for a holdover tenant according to the Landlord Tenant Code?
• What does the Land Reform Act allow property to be taken from?
• Which of the following must be disclosed if credit trigger terms are included in an advertisement?
• What must an escrow company maintain as per the Hawaii Escrow Act?
• If foreclosure sale proceeds are less than the owed amount, what can the mortgagee obtain?
• What is the due date for license renewal requirements and applications?
• What is required in the rental agreement regarding a landlord's contact information?
• In the context of lending, what does a discrepancy in APR indicate?
• What is the Hawaiian term for partnership?
• What type of notice is required for a landlord to terminate a month-to-month tenancy?
• What type of corporation allows shareholders to deduct losses?
• What happens to a licensee who does not complete required continuing education?
• How can condo bylaws be amended?
• Who are considered 'reciprocal beneficiaries' according to Hawaii law?
• What is the required timeframe for depositing earnest money into an escrow account after receipt?
• Which situation would NOT classify someone as a customer?
• Under what conditions does TILA apply to a loan?
• Which of the following actions is prohibited for a timeshare sales agent?
• What agreement can buyers and sellers make regarding closing costs?
• What significant change did the Great Mahele implement regarding land ownership in Hawaii?
• What is the gross rentable area of a building?
• What is the time frame in which a landlord must notify a tenant of the sale of a building?
• What is the role of the Hawaii Public Housing Authority (HPHA)?
• What type of learners prefer hands-on experiences?
• What defines a Community Center?
• Which approach would best assess a rental property’s value based on its potential revenue?
• What is the maximum amount a licensee can owe the Real Estate Recovery Fund before losing their license for at least 5 years?
• What tax responsibility do individual condominium unit owners have?
• When may property be foreclosed for tax nonpayment in Hawaii?
• What was the purpose of the Land Use Law adopted in Hawaii in 1961?
• What does the Statutory Right of Redemption allow a property owner to do?
• In the event of a dispute, how long can a tenant expect to wait for their rent payment to be processed?
• Which act regulates the sale or lease of undeveloped land through interstate commerce?
• Under which circumstance can a security deposit be withheld by a landlord?
• In an agency relationship, who are considered third parties?
• If a lease specifies no assignments, what does this mean for the tenant?
• What is required for a branch office if it is located on a different island?
• Who administers the Residential Landlord Tenant Code?
• What period does the second tax payment in Hawaii cover?
• Which two classes does HRS 515 add to federally protected categories?
• Who issues mining leases in Hawaii?
• What must happen if a lien filed is found to have probable cause?
• What documentation can a tenant provide if the landlord does not start necessary repairs?
• What does the public report disclose about a condominium project?
• What does judicial foreclosure involve in Hawaii?
• If a landlord does not remedy a notice of damage within specified time, what can the tenant do?
• Which of the following does NOT incur a conveyance tax?
• What happens to a licensee whose actions have resulted in a payment from the Real Estate Recovery Fund?
• What has priority over all liens filed after work commenced?
• What interest does a wife hold under dower until the property is sold?
• What distinguishes a license from an easement?
• How many days notice must be given prior to a condominium association meeting?
• How long does a loan servicer have to notify a borrower of a servicing transfer?
• What should the seller provide regarding past listings?
• What happens to the public report once all units have been sold?
• What results in the creation of a judgment lien in Hawaii?
• When should the SRPDS be delivered to the buyer?
• To transfer a limited common element to another, what must be done?
• What is created by unpaid assessments in a condominium?
• What must a tenant provide to avoid being considered absent for more than 20 days?
• What does a leasehold estate grant the lessee primarily?
• If a tenant does not receive a timely response for maintenance issues, how soon can they contact the landlord?
• What does a license provide in terms of property use?
• What is necessary for an amendment to the declaration of a condominium?
• What is covered by the first tax payment in Hawaii?
• What type of corporations must register in Hawaii?
• What is the time frame for a buyer to cancel a timeshare contract without penalty?
• Which of the following best describes a triple net lease?
• What is the minimum notice period required to terminate a week-to-week lease by either party?
• How long can a business contact a past client according to the Do Not Call rule?
• Under what condition can a broker be held liable for an employee's sexual harassment?
• Which of the following actions is a violation that the Commission may take disciplinary action against?
• Who is responsible for unpaid condo assessments upon property conveyance?
• Which of the following is NOT a form of an earnest money deposit?
• What constitutes a referral fee violation?
• How long can a Principal Broker (PB) or Broker-in-Charge (BIC) be absent before needing a temporary replacement?
• What is the minimum frequency for condominium association meetings?
• How long must a tenant be absent before a landlord can consider the unit abandoned?
• What does the Hawaii Housing Finance and Development Corporation (HHFDC) focus on?
• What forms of payment are accepted at closing in Hawaii?
• What is not typically a valid reason for withholding a security deposit?
• Which type of commercial space typically utilizes a gross lease?
• Which requirement must be met by a condo board member?
• What is a testamentary trust?
• Which of the following can terminate a license?
• Which of the following is NOT listed under Hawaii general disclosures?
• What is the liability of members in a Limited Liability Company (LLC)?
• In the Regular System of recording, how are documents organized?
• What is the role of the Real Estate Recovery Fund?
• How long does a tenant have to review the inventory provided by the landlord?
• Under the agency section of the listing contract, which of the following is included?
• What does steering entail in the context of real estate?
• What does the Residential Leasehold Disclosure Act inform lessees about?
• When was the Shoreline Protection Act established?
• What happens if a business does not comply with the Do Not Call rule?
• How long must the listing broker keep the SRPDS acknowledgment?
• What does the Double System in Hawaii entail?
• Who is required to provide a Seller's Residential Property Disclosure Statement (SRPDS)?
• Which of the following is NOT considered a trigger term in credit advertisements?
• What can a tenant do if a landlord repeatedly demands entry or enters without permission?
• What is a Gross Lease?
• What type of land does the term Koele refer to?
• What does the escrow time frame refer to in Hawaii?
• What is a characteristic of a Periodic Estate/Tenancy?
• What does an actual eviction refer to?
• Which type of learners engage most effectively through emotions?
• What must a broker disclose at the time of taking a listing?
• How long does a landlord have to remedy issues depriving a tenant of enjoyment?
• How many Land Use Districts were established by the Land Use Law in Hawaii?
• Which of the following can be excluded as a material fact in a property disclosure?
• How soon must funds be available on demand when placed in an escrow account?
• In the context of dual agency, who must the agent disclose representation to?
• What is a condo board's action regarding access to common elements due to unpaid assessments?
• What needs to happen when a condominium is created after July 1, 2006?
• Which of the following describes family child care homes according to zoning ordinances?
• Which appraisal approach would likely use a spreadsheet analysis for comparison?
• Which of the following is NOT a responsibility of the Real Estate Commission?
• What is blockbusting in real estate?
• What does a Writ of Execution order the sheriff to do?
• Which type of properties do the Residential Landlord Tenant Code apply to?
• What is the notice required when a rental unit is being demolished or changed to a transient vacation rental?
• What must be done prior to selling or offering to sell condominium units?
• Which entity administers the Water Code of 1987 in Hawaii?
• From which type of entity must a loan be obtained for TILA to apply?
• What is a qualification for the Hawaii Home Owner Tax Exemption?
• What type of ownership is defined as a person owning property with no one else?
• When should a buyer give consent for dual agency in a real estate transaction?
• Who is eligible to register as a hotel operator in Hawaii?
• When must the conveyance tax be paid?
• What does HRS 515 address?
• When activities are exclusive to a condominium project, is registration required?
• What can a condo board assess unit owners for?
• What is a licensee's obligation under Megan's Law?
• How does a license differ from a lease?
• In the commission section of the listing contract, what does the seller agree to pay?
• What is the maximum loan period for a Hula Mae Loan?
• What happens to improvements on the land upon termination of a ground lease?
• What is the purpose of the Rent Trust Fund?
• What condition must be met for an easement of necessity to be granted?
• What is the general rule regarding the assignability of leases?
• What is an ili in the context of Hawaiian land?
• How are C Corporations taxed?
• What section can a broker complete on the SRPDS?
• In terms of liability, what action can reduce a broker's risk regarding harassment?
• What legal concept replaced dower and curtesy in Hawaii?
• What is the standard buyer rescission period for a Seller's Residential Property Disclosure Statement (SRPDS)?
• What type of interest does a condominium owner typically have in their unit?
• Within how many days must a licensee report a disciplinary sanction finding them liable?
• How long must a brokerage firm maintain its trust account records?
• Which type of lease requires the tenant to cover taxes, insurance, and maintenance costs?
• What is the Equitable Right of Redemption?
• What is an exemption to being licensed as a broker or salesperson?
• Which of the following must be included in a listing contract?
• Who is classified as a creditor under the TILA regulations?
• If a rental unit is partially or completely destroyed, what options does the tenant have?
• What is a common characteristic of a Specialty Center?
• What is the purpose of a Tenancy Statement/Estoppel Certificate?
• What is a reason that a property owner may appeal a tax assessment?
• What notice period is needed for a tenant to terminate a month-to-month lease?
• What is indicated by the visible commencement of operations in mechanics lien?
• What type of property disclosure must be made regarding stigmatized properties?
• What does the term "gross area of a building" refer to?
• What type of lease is a proprietary lease in a cooperative?
• What is the role of electronic signatures according to UETA?
• What is the purpose of a surrender clause in a leasehold?
• What is the maximum time frame that notice is required to increase rent for a month-to-month tenancy?
• What does the APR reflect?
• What is the term used to describe a tenant who remains in possession of a property after the lease expires without the landlord’s consent?
• What does the Business Action Center assist with?
• What is one characteristic of the Hawaii Discrimination Law in real property?
• If a landlord wrongfully retains a tenant's deposit, what is the maximum amount the tenant can be awarded?
• What is defined as the net rentable area?
• Who administers Employee Retirement System Loans in Hawaii?
• Which type of rentals are exempt from Hawaii Fair Housing Laws?
• What is the minimum length of leasehold required to obtain a mortgage?
• What is the break-even rent formula?
• How is ownership of a trade name established?
• Which entity administers the Conservation District?
• What can be the penalty for sending SPAM according to regulations?
• How is the tax exemption treated for separated couples in Hawaii?
• The Agriculture District includes which of the following?
• When is truth in lending re-disclosure required?
• What is allowed regarding the name of a broker or salesperson?
• What type of lease typically allows the landlord to inspect a tenant's financial records?
• What is the primary purpose of the Uniform Electronic Transactions Act (UETA)?
• What characterizes a nonjudicial foreclosure?
• What is the primary focus of the Sales Comparison Approach in appraisals?
• What right does a wife have concerning her husband's property under dower?
• What is the role of a condo managing agent?
• What is the consequence if a license is not renewed prior to December 31st?
• What type of tenancy is typically month-to-month, requiring no fixed term?
• How many days does a broker have to release a licensee upon request?
• Who qualifies as an established business relationship?
• What steps are involved in the Commission's discipline process?
• When does the risk of loss pass to the buyer?
• What percentage of the shoreline is designated for public access?
• How long does a tenant have to bring an action to recover a security deposit?
• What distinguishes a Neighborhood Center from other retail center types?
• What should an Affiliated Business Arrangement Disclosure detail?
• How often must an Annual Escrow Statement be provided to a borrower?
• Which center type generally has 15-20 stores with a supermarket or discount store as an anchor?
• Which of the following is true about the liability in an LLC?
• Which statement is true regarding earnest money deposits?
• Under Hawaii Usury Law, what is the maximum interest rate for personal loans or junior mortgages?
• What legislative act in 1850 acknowledged the rights of commoners to land?
• How long must proceeds from the sale of abandoned property be held in a trust account?
• If a broker or salesperson is denied membership at the Kauai Board of Realtors based on religion, this would be a violation of which law?
• When does a licensee's license automatically get placed on involuntary inactive status?
• What happens if a buyer fails to perform their obligations under a Purchase Contract (PC)?
• How many weeks must a Notice of Intent to Foreclose be published before the sale?
• What is the anchor tenant most commonly found in a Regional Center?
• What is the Hula Mae Loan program primarily aimed at?
• What type of lands are categorized under the Agriculture District?
• What does the seller warrant in a listing contract?
• What is one responsibility of the seller in a listing contract?
• In Hawaii, what must a surviving spouse do if they are dissatisfied with their inheritance?
• Which of the following tasks can licensed personal assistants NOT perform?
• When a landlord does not fulfill repair obligations, what is a tenant's first legal recourse?
• What is the maximum amount a tenant can be required to pay for a security deposit including keys and pets?
• In an S Corporation, whose income is taxed?
• What is any instrument that creates a condominium referred to as?
• Which is NOT one of the brokerage firm's obligations in a listing contract?
• How long does a buyer have to bring a lawsuit against the seller in reference to an SRPDS?
• What is a requirement for an escrow company under the Hawaii Escrow Act of 1967?
• What is a primary purpose of an Annual Escrow Statement?
• When is the first tax payment due in Hawaii?
• Which activity can unlicensed assistants NOT perform?
• What is the time frame for a licensee to reinstate their license after a failure to renew, assuming they comply with requirements?
• Hawaii operates under which theory of mortgages?
• What is the minimum fine per violation set by the Commission's discipline process?
• How long after work completion can a lien be filed?
• What is the consequence of the death of either party in the context of a license?
• What must advertising done on a different island disclose?
• What was the purpose of the Hawaii Coastal Zone Management Act introduced in 1977?
• What is the allowed contact period for prospects under the Do Not Call rule?
• What is the maximum duration for which a temporary Principal Broker (PB) or BIC can serve?
• When can a mechanics lien be filed after the completion of work?
• What is the land use area categorized as Conservation in Hawaii?
• What happens to the real property tax bill if the seller has not paid it prior to closing?
• What is the notice requirement a landlord must provide before entering a rental unit?
• When must the first meeting of a condo association occur after first conveyance and its requirement?
• What is the maximum fine per call for violating Do Not Call regulations?
• Under the requirements in PC for leasehold, what must a seller provide to the buyer?
• Which of the following is NOT a responsibility of an exchange agent?
• Which of the following is a key component of steering?
• What is required to legally increase rent for a month-to-month tenancy?
• Which of the following terms best describes the nature of the Bureau of Conveyances?
• What is required from a licensee regarding agency disclosure in a real estate transaction?
• What is the minimum notice period a tenant must be given to pay overdue rent?
• When does the Transactional Information Report (TIR) need to be completed?
• Who is responsible for handling discrimination cases in Hawaii?
• What describes a Ground Lease?
• How long should a brokerage hold earnest money before depositing it?
• What rights does a lessee have under a lease?
• What is one of the exceptions allowing for referral fees to be paid?
• Which appraisal approach assesses properties similarly based on sales history?
• How often must a business check the Do Not Call Registry for new numbers?
• What does the seller authorize in the seller authorizations section of the listing contract?
• Which of the following is NOT included in the duties of a Principal Broker?
• What type of lease is typically used in an industrial park?
• What is one exemption from the conveyance tax in Hawaii?
• Who is responsible for withholding taxes on the sale of property owned by a non-resident?
• What is one of the grounds for appealing a tax assessment in Hawaii?
• What does “Equitable Title” versus “Legal Title” refer to?
• In what year was the Land Reform Act that allowed redistribution of land enacted?
• In the situation where two women with children and a dog apply to rent an apartment, under which condition may the landlord legally deny them residence?
• Tenants on public assistance can change their rent due date to what?
• Which function can the Real Estate Commission NOT delegate to the DCCA?
• In dual agency, which of the following is the agent not permitted to advise the seller on?
• Which entities can effectively manage a land trust in Hawaii?
• What is the formula to calculate break-even rent based on expenses?
• Which of the following is not a reason the Commission can suspend or revoke a real estate license?
• Which is a requirement for a broker’s principal place of business?
• What is the penalty for failing to register a condominium hotel operation on time?
• What does the term "usable area" refer to in the context of office buildings?
• Which appraisal method is focused on future income generation?
• How long can a holdover tenant be evicted according to Standard Term C of the Landlord Tenant Code?
• What is a characteristic of Limited Liability Partnerships (LLP)?
• Which district includes lands in existing forest and water reserve zones?
• What happens to buyer funds upon cancellation of a timeshare contract within the right to rescission period?
• Which type of percentage lease is defined as being directly tied to sales?
• What should a buyer do if the seller defaults on the sale?
• Which of the following scenarios allows a landlord to deny rental to a family?
• Which of the following best describes Hawaii as a public domain state?
• What must a landlord provide to a tenant regarding the agent's contact information?
• What authority does a condo board have regarding employee management?
• What is the minimum zone established by the Shoreline Setback Statute?
• How does the Hawaii estate tax relate to federal taxes?
• What options does a landlord have when a tenant leaves property behind?
• What does the term ahupua'a refer to in Hawaiian land division?