Ace the Hawaii Pre-Licensing Exam 2026 – Surf Your Way to Real Estate Success!

A mortgage note is the financial document that specifies the terms for a loan. This document is a legally binding agreement between the borrower and the lender, detailing the amount borrowed, the interest rate, the repayment schedule, and the consequences of default. It serves as evidence of the debt and the borrower's promise to repay it, outlining all the necessary terms and conditions associated with the loan.

The other options do not fulfill this specific role. A bank statement provides a summary of account activity, including deposits and withdrawals, but it does not define loan terms. A lease agreement pertains to rental arrangements for property, establishing the terms between a landlord and tenant rather than those for a loan. A title deed is a legal document that conveys ownership of a property and does not outline the terms of any loans taken against it. Thus, the mortgage note stands out as the correct answer in this context.