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National Real Estate Exam – Hawaii Questions With Complete Solutions
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National Real Estate Exam – Hawaii Questions With Complete Solutions
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National Real Estate Exam – Hawaii Questions WithComplete Solutions
A borrower has defaulted on the mortgage. The mortgage
contains an acceleration clause. This permits the lender to
Correct Answer demand immediate payment of the entire note.
A broker has brought a ready, willing, and able buyer to a seller.
In MOST listing contracts, the broker has earned his
commission when Correct Answer the seller accepts the offer.
A broker has signed a listing contract for the sale of a home.
Which of the following could make this contract voidable?
Correct Answer The seller is heavily under the influence of
alcohol at the time of signing.
A broker lists a property to be sold "As-Is" in a single agent
capacity. Which of the following is the broker not required to
disclose to broker's customer: Correct Answer The broker is
not required to disclose anything because the property is being
sold As-Is.
A broker lists a property, with a listing contract allowing sub
agency and dual agency. One of the broker's salespersons shows
the property. The salesperson would be classified as Correct
Answer a subagent of the seller.
A broker supplies the financing for a project to build
condominiums with the stipulation that he has the exclusive
right to sell the completed condos. Which of the following
,BEST describes this relationship? Correct Answer Agency
coupled with an interest.
A broker, acting as agent for the seller, presents an offer to buy
from the broker's former college roommate. The broker knows
that the buyer will increase the amount of the offer if the seller
turns down the offer. When presenting the offer, the broker
should Correct Answer tell the seller that the buyer will pay
more.
A business owner signs a 5 year lease on a commercial building
to operate a grocery store. The property owner sells the property
in June of the following year. The commercial lease is: Correct
Answer Binding on the new owner
A buyer is getting a fully amortized loan for $220,000. The bank
will give the buyer the loan for 15 years at 5 1/2%
or for 30 years at 6 1/2%. To the nearest cent, what is the
difference between the monthly payments for these two loans?
(BE SURE TO USE THE AMORTIZATION TABLE.)
Correct Answer $407.03
A buyer made an offer on a property that was listed at $350,000.
She wanted to put $35,000 down and make payments to the
seller, allowing the seller to retain title until the principal was
paid off. The seller accepted, and the buyer became a Correct
Answer Vendee
A buyer wants to purchase a home priced at $100,000. The
lender appraises the house at $90,000 and agrees to make an
,80% loan-to-value loan. How much cash MUST the buyer put
down to get the house? Correct Answer $28,000
A buyer was negotiating the purchase of a house for himself.
During a conversation with the seller, the seller agreed to
include all kitchen appliances in the sale, and this fact was
included in the sales contract. In this situation, if the seller takes
the appliances with him, what recourse does the buyer have?
Correct Answer The buyer may sue the seller for specific
performance.
A charge of violation of Federal Fair Housing laws can be heard
by an administrative law judge within the Department of
Housing and Urban Development (HUD) or by a Federal district
court judge in Federal court. The advantage of a Federal court
hearing to the complaining party is that Correct Answer there is
no dollar limit on damages paid.
A cloud on the title would be commonly cured by: Correct
Answer Quitclaim Deed
A commercial property lost value because a recently constructed
highway moved traffic away from the property. This is an
example of Correct Answer economic or external
obsolescence.
A company agrees to lease a property to be used as a gambling
casino. State laws prohibit gambling. This particular contract
would be legally defined as Correct Answer void.
, A competitive market analysis is MOST often used for Correct
Answer setting a listing price.
A competitive market analysis takes into consideration Correct
Answer square footage of the subject property.
A contract has been drawn up leaving the family homestead to
the owners' granddaughter. Once that has been done, the owners
may Correct Answer an option contract.
A couple are moving to a new city. They have decided to rent
temporarily before buying a house to see which part of the city
they would like to live in. What type of lease would BEST suit
the couple's need? Correct Answer A month-to-month lease.
A couple brought a rental house for $195,000. Its assessed value
was $180,000. If the tax rent is $1.50 per $100 of assessed
value, what is the monthly contribution the lender will
REQUIRE for taxes? Round to the nearest cent. Correct
Answer $225,000
A couple owns an older home in a neighborhood that is
becoming a commercial area. Because of the change in the use
of the land, the couple can expect the value of their parcel to
increase at some future time. This is an example of the principle
of Correct Answer Anticipation
A couple signed a lease on an apartment for a period of 1 year.
The lase does NOT contain a automatic renewal clause. The
couple plans to move out at the end of the lease rather than
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