HRES - Hawaii Real Estate Salesperson

Question 21: A newly licensed Lihue agent trained on the mainland lists the federal protected classes and asks which categories Hawaii adds beyond them. Among the following, which class is protected under Hawaii's chapter 515 but is not one of the federal Fair Housing Act's classes?

Race

Religion

Sexual orientation

Familial status

Question 22: One seller-disclosure exemption in Hawaii's chapter is distinctively local, tied to the islands' leasehold history. It excuses a transfer when a lessor conveys to a lessee as leased land converts to fee simple. Which type of transaction does this Hawaiian exemption describe?

Lessor-to-lessee fee conversion

Initial sale of new construction

Sale of a time share interest

Foreclosure by operation of law

Question 23: A vendee under an agreement of sale in Wailuku promptly records the agreement in the Bureau of Conveyances. Later the vendor signs a conveyance of the same parcel to another person, who records it afterward. Which interest does Hawaii's recording statute give priority?

The later-recorded conveyance

The recorded agreement of sale

Whichever was signed first

Neither, they share equally

Question 24: A Hilo licensee has decided to sell a house the licensee personally owns to an outside buyer. Under Hawaii's self-dealing rule, besides fully informing the principal broker, when must the licensee reveal that ownership interest to the purchaser or tenant?

In writing before accepting any offer

Only at the closing table

Orally at the first showing

After the buyer's inspection period

Question 25: A Kona licensee wants to buy a home listed with the licensee's own brokerage, intending to take title through a spouse. Before proceeding, what must the licensee do under Hawaii's self-dealing rule to lawfully acquire that particular listed property?

Obtain the commission's prior approval

Simply pay full market value

Make the true position known in writing

Resign from the brokerage first

Question 26: During the life of an agreement of sale in Lihue, before the vendee has finished paying and legal title has passed, the buyer nonetheless holds a recognized ownership interest reflecting the equity building through payments. What form of title does the vendee hold meanwhile?

Full legal title

A leasehold interest only

No ownership interest yet

Equitable title to the property

Question 27: A Waipahu seller rejects a written offer outright but refuses to write anything on the document itself. Under Hawaii's rule governing offers, what must happen with that rejected offer so the originator receives proper notice of the seller's decision?

The broker notes it and returns it

The offer is simply discarded

The broker verbally informs the buyer

It is filed without any notation

Question 28: In addition to first mortgages and agreements of sale, Hawaii's usury chapter carves out certain government-backed mortgage loans as well from any interest-rate restriction. Which category of federally supported loans does the statute expressly exempt from its usury provisions entirely?

Only conventional bank loans

FHA, VA, and SBA loans

Credit union loans only

Loans over one million dollars

Question 29: A Wailuku licensee wants to represent both the buyer and the seller in one sale and has each sign a one-line clause reading simply that the licensee represents both parties. Why does Hawaii's agency rule treat this consent as inadequate for dual agency?

Dual agency is flatly prohibited

Only the seller may consent

It must describe the representation

It must be notarized first

Question 30: Hawaii's usury chapter exempts a consumer credit agreement of sale made after May 30, 1980, under which a vendor sells real property but retains legal title, provided one condition about the interest is met. What condition must that agreement satisfy?

The vendee waives all defenses

The rate stays below twelve percent

The vendor records the agreement first

The interest rate is clearly stated

Question 31: A licensee in Kaneohe begins working with an owner who is selling directly in a for-sale-by-owner or courtesy-to-broker situation. Under Hawaii's rule addressing these arrangements, what two related facts must the licensee affirmatively disclose to that owner at the outset?

The listing price and commission rate

The owner's rights and remedies

Who is represented and who pays

The property's known material defects

Question 32: Hawaii's recording statute defines an agreement of sale as an executory contract for the sale and purchase of real estate binding one party to sell and the other to buy, and it adds a defining statement about who keeps title. What does that statutory definition say?

The seller retains legal title

Title transfers at signing

Title is held in escrow

Title passes to a trustee

Question 33: Hawaii uses particular vocabulary for the two sides of an agreement of sale: the party who agrees to sell real property and retains legal title, and the party who agrees to buy, takes possession, and pays over time. What are these two parties called?

Mortgagor and mortgagee

Grantor and grantee

Lessor and lessee

Vendor and vendee

Question 34: While a Kihei seller's exclusive listing is still unexpired, a second formal written offer arrives before the seller has accepted the first. Under Hawaii's rule on handling offers, what must the broker do with this additional competing written offer?

Hold it until the first fails

Transmit it immediately to the owner

Present it only if higher

Return it to the second buyer

Question 35: In an agreement of sale, Hawaii's distinctive seller-financing instrument, the buyer takes possession of the property and pays the price over time while one crucial ownership element stays with the seller until the balance is paid. Which element does the seller retain?

Legal title to the property

Physical possession of the property

The buyer's equitable interest

The right to occupy

Question 36: A licensee in Honolulu overlooks the agency disclosure entirely, and after closing the parties worry the recorded deed might be defective. Under Hawaii's agency rule, what is the effect of failing to comply with the disclosure requirements on the validity of title?

It voids the recorded deed

It clouds title until cured

It reopens the buyer's cancellation

It does not affect title

Question 37: A Kahului buyer assumes that because the seller pays the entire commission, the licensee working with the buyer must actually represent the seller. Under Hawaii's agency rule, what does the obligation to pay compensation tell us about the agency relationship?

It always sets the relationship

It is not determinative

It creates automatic dual agency

It voids any buyer representation

Question 38: Setting real estate loans aside, Hawaii's usury statute does cap ordinary consumer credit or home business loans by written contract at a rate expressed two equivalent ways, monthly and yearly. Which ceiling does the statute set for such consumer credit?

Two percent monthly, twelve yearly

One percent monthly, ten yearly

One percent monthly, twelve yearly

No ceiling applies at all

Question 39: Hawaii is distinctive for classifying every parcel in the State into one of a fixed set of statewide land use districts administered at the state level. A licensee studying this system needs to know how many such districts exist. How many are there?

Three

Four

Five

Two

Question 40: A Honolulu brokerage earns a commission on a closed sale, and Hawaii treats that commission as income from a service business. Rather than a sales tax on goods, a different levy applies to the gross income. Which Hawaii tax attaches to the commission?

The general excise tax

The conveyance tax

A state sales tax

The non-resident withholding tax

HRES Hawaii Real Estate Salesperson - Set 1 - Part 2