Hawaii State Real Estate Practice Exam Already Passed

Hawaii State Real Estate Practice Exam Already Passed Prior to the origin of Hawaii's land system in the 1840s who owned all of the lands? The Kings were the sovereign owners of all the lands (feudal system), thus pri ...

Hawaii State Real Estate Practice Exam Already Passed Prior to the origin of Hawaii's land system in the 1840s who owned all of the lands? The Kings were the sovereign owners of all the lands (feudal system), thus private ownership (allodial system) did not exist. What are the land directions if he/she is on shore, facing the mountains? The direction is Mauka What are the land directions if he/she is facing the ocean? The direction is Makai What are the land directions if he/she is facing North? Diamond Head or Koko Head (northeast) What are the land directions if he/she is facing South? Lalo or Ewa (south west) The Great Mahele occurred when? 1848 Defined boundaries and official maps of all lands in the state are made part of what records? Bureau of Conveyances in Honolulu Hawaii today consists of how many islands? 124 islands situated in the Pacific Ocean What are the 8 major islands in Hawaii from biggest to smallest? Hawaii, Maui, Oahu, Kauai, Molokai, Lanai, Niihau, and Kahoolawe When was Hawaii overthrown? 1893 What is the meaning of "bundle of rights" ? The right to possess, the right to use or keep from using, the right to encumber, the right to enjoy, and the right to dispose. When was geothermal rights classified as a mineral? 1974 A riparian owner is one who owns land bounding on? waterway Personal property is financed by? Way of security agreement and financing statement (elsewhere often called a chattel mortgage). Real property is usually financed by? Mortgage Sale of personal property is accomplished with? A bill of sale How to determine if an article is a fixture? The method of attachment, adaptation of the article to the property, relationship of the parties, and intention of the parties. if title is indefeasible, it cannot be? voided What is the meaning of Appurtenance? An appurtenance is a real property, which is defined as being immovable or fixed to the land. A life estate may be created by? Will or Deed The degree, quantity, or nature of a person's interest in real property is known as? An estate The return of land to the grantor or his heirs when the grant is over is? Reversion An estate in land vested in a grantee "until he marries" is properly classified as? A defeasible fee A wife's interest in her husband's pre-1977 estate prior to his death is best described as? Inchoate dower Two other forms of legal life estate established by law, rather than voluntarily was? Dower and Curtesy and Homestead When was Dower and Curtesy replaced by the Uniform Probate Code? 1977 An easement appurtenant Runs with the land Restrictions in a deed which benefit the grantor? Can be removed by the grantor issuing a quitclaim deed An easement created by adverse use is said to have been created by? Prescription (Prescription is the acquisition of an easement, over the property of another, through adverse use of that property.) An easement is terminated when? When the dominant and servant tenements merge or when the particular purpose for which the easement was created ceases. Which of the following creates deed restrictions? Grantor Which of the following restrictions is not a governmental restriction? Covenant An appropriation of land for some public use made by the owner and accepted for such use by or on behalf of the public, such as streets in a plotted subdivision, is called? Dedication Which of the following applicants can forego the education requirement for licensing in Hawaii? A licensed real estate broker from another state. - Equivalent education that may be considered includes an active or recent real estate license in another state, a law degree from an accredited law school within the U.S., or a bachelor’s degree with a real estate or business major (applies to salesperson candidates only). In which of these situations is a notification to HREC NOT required? Oceanside Homes hired two unlicensed transaction coordinators.- Individual licensees and brokerage firms must ensure that HREC has current contact information. Broker candidates who want to substitute other education for the normal Hawaii prelicensing education requirements must do what before registering for the exam? Apply for and be granted an Experience Certificate. - A broker candidate must apply for and be granted an Experience Certificate prior to registering for the broker examination. Candidates must submit the Application for Experience Certificate, a $75 non-refundable fee, and the required documents. Mickey's license has been placed on inactive status because the principal broker's license lapsed. What will most likely happen to the seller's transaction on which Mickey is currently working? Mickey must cease all licensed activity, which means referring his client to another brokerage firm. Jenson just received his Hawaii real estate salesperson license. He didn't complete the prescribed pre-licensing coursework, and he took only the state licensing exam. How is this possible? Jenson held an active real estate license in another state. What must a Hawaii broker applicant, who intends to operate a real estate brokerage firm, do in addition to passing the exam and applying for the license? Have a principal place of business When a person owns property to the exclusion of all other persons, he is said to hold the property in? Severalty A tenancy in common must have unity of? Possession An action brought by a co-owner of property to compel the severance of their respective interest is an action for? Partition A joint tenant may not? Will (devise) his interest The right of survivorship is a feature of? Joint tenancy A woman and her brother hold property in joint tenancy. The woman deeded her part to herself and her husband: The joint tenancy is broken A tenant in common may sell his interest: At any time, without permission or approval One of the advantages of joint tenancy is that: It avoids delays and expenses of probate In a land trust, the beneficiary's interest is? Personal property A legal form of ownership in Hawaii in which the owners are called members is known as: Limited Liability Company Under a land trust, title to the real property is held in the name of a: Trustee Which of the following is not eligible to hold title in a reciprocal beneficiary relationship? A divorced person All real estate licenses expire when? December 31st of an even numbered year If you wish to re-establish your terminated real estate license, you must pay the Real Estate Commission: The amount paid out of the Recovery Fund A broker taking an earnest money deposit in the form of a check can: Hold it until acceptance of the offer if directed to do so by the buyer or offeror. When a realtors branch office is moved from one location to another, he must? Notify the Commission of the move within 10 days A licensee selling his own property must do which of the following? Inform the prospective buyer that he is a licensee An unlicensed secretary in a broker's office may not: (solicitation) requires a license A real estate recovery fund shall not exceed: $50,000 Provisions meaning? Terms outlined in a contract Violation of the licensing laws by selling without a license may result in: $5,000 fine