Hawaii License Law
What is the purpose of Hawaii's Real Estate Recovery Fund?
AA. To fund the Real Estate Commission's operations
BB. To compensate members of the public who suffer losses due to fraud or misrepresentation by a licensed real estate agent✓ Correct
CC. To provide emergency housing assistance to displaced homeowners
DD. To cover commission disputes between brokers
Explanation
Hawaii's Real Estate Recovery Fund compensates members of the public who have suffered losses caused by the fraudulent, dishonest, or deceitful conduct of a licensed real estate agent. The fund has payment limits and the agent's license may be revoked upon a fund payment.
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