Hawaii real estate exam study guide
latest 2023 graded A+
Four land divisions in correct sequence. ✔✔Division one - oahu
Division Two - Maui Division three - Big Island,
Division four - Kauai.
What is an example of modular ✔✔Pre-fabricated buildings
Blockbusting ✔✔Making you feel uncomfortable about who moved in your neighborhood
Steering ✔✔Race not fitting in with another race.
Land contract ✔✔Installment contract/agreement of sale
Seller removed two speakers after the closing and to hold a letter to the attic is his mom. What
kind of remediation can the buyer pursue. ✔✔Seller is liable, buyer can sue.
,Can seller's agent withhold money from seller's proceeds because the buyer is not satisfied with
the buyer - seller agreement repair? ✔✔No, only escrow can withhold money
The purpose of FHA? ✔✔Is to guarantee hi loan-to-value transaction. Stabilize the market
insurance program.
Does Hawaii statute cover fractional ownership? ✔✔Yes. Six owners or less.
Why is planned development needed? ✔✔Make better use of the land.
SMA stands for ✔✔Special management area
Special management area is to protect ✔✔The ocean (wetlands).
About Radon ✔✔Easy to detect cheap to fix
Sets back vs zoning ✔✔Set back - 5 ft to 10 ft from Street
zoning - resort, business, agricultural; controls what to do with lands.
,Who pays for drawing the deed? ✔✔Seller
In a "as is" contract, does the seller still need to get full written disclosure. ✔✔Yes
Hula Mae loans - at least _ _ year lease and _ _ years fix rate. ✔✔35 year lease and 10 years fix
lease.
Not including executive meeting, who can attend board meetings? ✔✔Members of the
association and all owners of the condo.
What is the Usery interest rate? ✔✔12%
Tax map key (TMK) order. ✔✔Division, zone, section, plot, partial
Who must disclose information on a disclosure statement? ✔✔Seller or sellers representative
Who does lava belong to you when it forms land? ✔✔The state of Hawaii
, A house sells for $500,000. It depreciates in 39 years. What is the depreciation after 11 years.
✔✔$500,000/39×11 = $141,026
Taxes paid twice a year. If the house is assessed for $250,000 and the tax rate is $1.50 per $100
($15 per mill) what is the tax payment for one installment? ✔✔1.50/100(250,000)/2=$1875
What is a modular construction? ✔✔Manufactured housing
Certified property associate is renting out units in a condominium. all the following are true
EXCEPT:
• 67% of the association must approve
• all the board must approve
• He must live there
• He must have a real estate license and only except commission from his broker ✔✔He must
live there.
What is distinct about owners who share ownership in common elements? ✔✔They get to elect
members of the association.
latest 2023 graded A+
Four land divisions in correct sequence. ✔✔Division one - oahu
Division Two - Maui Division three - Big Island,
Division four - Kauai.
What is an example of modular ✔✔Pre-fabricated buildings
Blockbusting ✔✔Making you feel uncomfortable about who moved in your neighborhood
Steering ✔✔Race not fitting in with another race.
Land contract ✔✔Installment contract/agreement of sale
Seller removed two speakers after the closing and to hold a letter to the attic is his mom. What
kind of remediation can the buyer pursue. ✔✔Seller is liable, buyer can sue.
,Can seller's agent withhold money from seller's proceeds because the buyer is not satisfied with
the buyer - seller agreement repair? ✔✔No, only escrow can withhold money
The purpose of FHA? ✔✔Is to guarantee hi loan-to-value transaction. Stabilize the market
insurance program.
Does Hawaii statute cover fractional ownership? ✔✔Yes. Six owners or less.
Why is planned development needed? ✔✔Make better use of the land.
SMA stands for ✔✔Special management area
Special management area is to protect ✔✔The ocean (wetlands).
About Radon ✔✔Easy to detect cheap to fix
Sets back vs zoning ✔✔Set back - 5 ft to 10 ft from Street
zoning - resort, business, agricultural; controls what to do with lands.
,Who pays for drawing the deed? ✔✔Seller
In a "as is" contract, does the seller still need to get full written disclosure. ✔✔Yes
Hula Mae loans - at least _ _ year lease and _ _ years fix rate. ✔✔35 year lease and 10 years fix
lease.
Not including executive meeting, who can attend board meetings? ✔✔Members of the
association and all owners of the condo.
What is the Usery interest rate? ✔✔12%
Tax map key (TMK) order. ✔✔Division, zone, section, plot, partial
Who must disclose information on a disclosure statement? ✔✔Seller or sellers representative
Who does lava belong to you when it forms land? ✔✔The state of Hawaii
, A house sells for $500,000. It depreciates in 39 years. What is the depreciation after 11 years.
✔✔$500,000/39×11 = $141,026
Taxes paid twice a year. If the house is assessed for $250,000 and the tax rate is $1.50 per $100
($15 per mill) what is the tax payment for one installment? ✔✔1.50/100(250,000)/2=$1875
What is a modular construction? ✔✔Manufactured housing
Certified property associate is renting out units in a condominium. all the following are true
EXCEPT:
• 67% of the association must approve
• all the board must approve
• He must live there
• He must have a real estate license and only except commission from his broker ✔✔He must
live there.
What is distinct about owners who share ownership in common elements? ✔✔They get to elect
members of the association.
