Hawaii State Real Estate Questions and
Answers Passed with 100%
lands extending inland from the shoreline as delineated on the maps filed with the counties
✔✔Special Management Area (SMA)
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on
an island different from that of the principal place of business, provided that the salesperson or
broker-salesperson shall not maintain or advertise a place of business other than the principal
place of business ✔✔TRUE
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on
an island different from that of the principal place of business, provided that any advertisements
on an island different from that of the principal place of business shall disclose the name of the
brokerage firm and the address and phone number of the principal place of business. ✔✔TRUE
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on
an island different from that of the principal place of business, provided that all agency
disclosures required by section 16-99-3.1 shall include that the principal place of business is
located on a different island. ✔✔TRUE
, What kind of title does Vendee (buyer) initially receive in an agreement of sale? ✔✔Equitable
Title
Which closing is the conveyance tax paid in an agreement of sale? ✔✔First closing
Which closing is legal title given in an Agreement of Sale? ✔✔2nd closing, as Equitable is given
in the first closing.
Conveyand tax paid on Satisfaction of Agreement of Sale. T or F ✔✔False. It is paid on 1st
closing when purchased initally. It is also paid when conveyed by a General Warranty Deed.
Time share 7 right of recision allows who to cancel? ✔✔buyer or seller
Time share 7 right of recision should be written or just oral? ✔✔Both written and oral.
time share acquisition agents who are not licensed as sales persons still must be registered with
the Commission as a time share acquisition agent. T or F ✔✔TRUE
Answers Passed with 100%
lands extending inland from the shoreline as delineated on the maps filed with the counties
✔✔Special Management Area (SMA)
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on
an island different from that of the principal place of business, provided that the salesperson or
broker-salesperson shall not maintain or advertise a place of business other than the principal
place of business ✔✔TRUE
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on
an island different from that of the principal place of business, provided that any advertisements
on an island different from that of the principal place of business shall disclose the name of the
brokerage firm and the address and phone number of the principal place of business. ✔✔TRUE
A brokerage firm may associate or employ a salesperson or broker- salesperson who resides on
an island different from that of the principal place of business, provided that all agency
disclosures required by section 16-99-3.1 shall include that the principal place of business is
located on a different island. ✔✔TRUE
, What kind of title does Vendee (buyer) initially receive in an agreement of sale? ✔✔Equitable
Title
Which closing is the conveyance tax paid in an agreement of sale? ✔✔First closing
Which closing is legal title given in an Agreement of Sale? ✔✔2nd closing, as Equitable is given
in the first closing.
Conveyand tax paid on Satisfaction of Agreement of Sale. T or F ✔✔False. It is paid on 1st
closing when purchased initally. It is also paid when conveyed by a General Warranty Deed.
Time share 7 right of recision allows who to cancel? ✔✔buyer or seller
Time share 7 right of recision should be written or just oral? ✔✔Both written and oral.
time share acquisition agents who are not licensed as sales persons still must be registered with
the Commission as a time share acquisition agent. T or F ✔✔TRUE
