semplr.

Exams · Certifications · Licensing

Real Estate Salesperson Exam — National Portion

Recovery fund (HI): practice questions

Our Real Estate (National) bank has 5 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

Start the free mock exam

Question 1 · Hawaii

When the Hawaii recovery fund balance falls below $350,000, licensees are assessed. What happens if a licensee doesn't pay within 60 days?

  1. The license is suspended for one year
  2. A 10 percent penalty is added
  3. The license is forfeited
  4. The amount is taken from the next commission
Show the answer

C. The license is forfeited — HRS 467-17.

Question 2 · Hawaii

What happens to a Hawaii licensee's license when the court orders payment from the recovery fund on the licensee's account?

  1. Nothing, if the licensee pays a fine
  2. It is automatically terminated
  3. It is placed on probation
  4. It is suspended for 90 days
Show the answer

B. It is automatically terminated — HRS 467-18(e) (no new license for at least five years and until repaid with interest).

Question 3 · Hawaii

What is the most an aggrieved person may recover from the Hawaii real estate recovery fund per transaction?

  1. $100,000
  2. $5,000
  3. $25,000
  4. $50,000
Show the answer

C. $25,000 — HRS 467-16(a).

Question 4 · Hawaii

What is the most the Hawaii recovery fund will pay for any one licensee?

  1. $75,000
  2. $200,000
  3. $7,500
  4. $50,000
Show the answer

D. $50,000 — HRS 467-24.

More Real Estate (National) topics