Alaska Real Estate Practice Exam

10 sample questions, with answers explained

Every question above with its correct answer and the reasoning behind it. Read the explanations for the ones you answered correctly too. A lucky guess and knowing the rule look identical on a score report. These are sample questions from our larger bank.

1. 1. An Alaska claimant withdraws a recovery-fund claim. Does that prevent discipline of an involved licensee?

   • AYes, withdrawal erases all disciplinary authority
   • BYes, if the transaction already closed
   • CNo, withdrawal does not prevent disciplinecorrect
   • DOnly if the broker promises reimbursement

   Why: 12 AAC 64.315 states that withdrawing the fund claim does not prevent discipline. Compensation proceedings and professional discipline serve separate purposes.

   Practice of real estate

2. 2. What is Alaska’s maximum broker-fund amount kept in trust for account maintenance charges?

   • A$50
   • B$100correct
   • C$500
   • D$1,000

   Why: 12 AAC 64.180 permits no more than $100 of broker funds for trust-account maintenance charges. This limited allowance is not permission to mix general operating funds.

   Practice of real estate

3. 3. An Alaska associate broker is asked to supervise two branch offices. Which limitation applies?

   • AThere is no limit if the designated broker consents
   • BThe limit applies only to offices employing salespersons
   • CThe associate broker may supervise only one office, which must be the principal business officecorrect
   • DTwo offices are allowed if both use the same trust account

   Why: 12 AAC 64.120(b) allows an associate broker to supervise only 1 office, which must be that associate broker's principal business office.

   Practice of real estate

4. 4. An Alaska recovery-fund applicant has a qualifying judgment but has made no reasonable collection effort. What requirement is missing?

   • AAn agreement to waive all disciplinary proceedings
   • BA second judgment against every Commission member
   • CProof that the licensee has never held insurance
   • DDue diligence to collect and a finding that reasonable efforts cannot collect the amountcorrect

   Why: 12 AAC 64.325(b)(3) requires reasonable due diligence to collect an underlying judgment, award or settlement and a finding of uncollectibility before fund payment.

   Practice of real estate

5. 5. Under what name must an Alaska licensee conduct property-management activity?

   • AAny name chosen by an unlicensed assistant
   • BA private nickname not registered to the brokerage
   • CThe tenant’s name
   • DThe registered name of the affiliated real estate companycorrect

   Why: 12 AAC 64.550 requires management under the registered affiliated company name. A personal management brand does not replace the registered company identity.

   Property management

6. 6. An Alaska seller approves a noncash earnest deposit. Who must receive control of the item and explain how it will be safeguarded?

   • AThe buyer may retain unrestricted control until closing
   • BThe broker must take control and inform the principal parties of safeguardscorrect
   • CThe seller must privately store it without telling the buyer
   • DThe listing assistant may accept an oral promise instead

   Why: 12 AAC 64.271 requires surrender of control of an approved noncash deposit to the broker and notice to the principals of safeguarding measures.

   Contracts

7. 7. An Alaska management client decides to sell. Does the management agreement automatically authorize the manager to sell the property?

   • AYes, all management agreements grant sale authority
   • BNo, the management contract must authorize it or a separate listing is neededcorrect
   • CYes, if the manager has collected one month’s rent
   • DOnly the tenant may authorize the sale

   Why: 12 AAC 64.550 requires contract language or a separate listing to authorize sale or exchange. Rental-management duties do not imply unlimited disposition authority.

   Property management

8. 8. After Alaska representation ends, may a licensee freely reveal the former client’s confidential information?

   • AYes, once a competing brokerage asks
   • BYes, whenever the information could help a new client
   • CNo, written consent or a subpoena or court order is still requiredcorrect
   • DYes, termination makes every confidence public

   Why: AS 08.88.620 preserves client confidentiality after the relationship ends, subject to written consent or a subpoena or court order. Former-client status does not erase it.

   Agency

9. 9. An Alaska transaction closes and the broker’s commission is earned. When must it be withdrawn from trust?

   • AWithin 15 days after closing or other settlementcorrect
   • BWithin 30 days after closing or other settlement
   • CWithin 60 days after closing or other settlement
   • DWithin 5 days after closing or other settlement

   Why: 12 AAC 64.240 requires withdrawal within 15 days after closing or other settlement. Earned commissions should not remain indefinitely among client trust funds.

   Practice of real estate

10. 10. An Alaska licensee wants all renewal credit to come from a single course content area. What cap applies to that area per licensing period?

    • A6 hours
    • B10 hours
    • C12 hourscorrect
    • D24 hours

    Why: 12 AAC 64.500(f) limits renewal credit in any single course content area to 12 contact hours per licensing period.

    Practice of real estate