Comprehensive Study Guide for the Alaska State Real Estate Exam

Comprehensive Study Guide for the Alaska State Real Estate Exam Flashcards Complete 20 hours of continuing education in a two year prior to renewal A licensee who allows his or her license lapse may not practice however if all other conditions are met the license may be reinstated without monetary penalties up to Yes if the buyer ends the seller both give their written consent to a neutral license relationship and sign the waiver of right to be represented form.Hey sellers listing agreement has expired and the seller list with a different brokerage firm. Paul, the original listing listing, now has a buyer interested in a sellers property.Based on this information Paul There is no redemption. After a foreclosure sale From a strictly legal standpoint real property taxes become a lien on the property as of the A broken decides to sweeten an MLS listing for a property by offering a neutral license the relationship. The brokers action is Unacceptable because neutral licensee relationships may be created only by specific agreement of both parties Two years after the alleged violation occurred A Broker commits a fraudulent acts in connection with the sale of a property on March 15, 1999. On March 30 the transaction closes. On November 1 client sues the broker alleging fraud. On December 20 the jury fines in favor of the client. One was a client file a claim with the real estate commission to recover money from the real estate recovery fund?Acted negligentlyUnless stated to the contrary in a dean ownership of land by a married couple is assumed to be A real estate sales person decides to sell his own property.The sales person may not Pay a listing commission If the Alaska real estate commission directs the investigator to conduct an unannounced trust account audit a broker may request a 24 hour delay To meet schedule obligations but the records to be audited must be sealed by the investigator and unavailable to the broker during that time Officers of a corporation must give the person who is employed as a broker for the corporation the exclusive authority to maintain the real estate trust accounts, to pay commissions for license activities, to maintain transaction records in accordance with the statue and to Hire and fire licensees Cannot disclose to the buyer offer received on the seller's property well it was listed with him A seller is required by statue to give a buyer a property condition disclosure report and all the following transactions except Which of the following statements regarding the Alaska real estate commission is false Members of the commission or selected by the state association of realtors Regarding the licensing and duties of unlicensed personnel real estate assistance in Alaska they may Insert factual information into form contracts under the licensed employer supervision and approval Within two years of the date of discovery of the loss in this case by March 30, 2001 In order to be reimbursed a person filing a claim against the real estate recovery fund must prove a loss has been

suffered in the real estate transaction because a licensee did any of the following except

The principal method of delineating Property boundaries or legal descriptions in Alaska is known as the How long muscle landlord wait before he or she can raise rents to reflect a substantial increase in property taxes For the sale commercial propertySeller property condition disclosure must be delivered to the buyer Can sue both the broker and the seller for non-disclosure.Alicen sales person obtains a listing. Several days later, the sales person meets prospective buyers at the property and tells them, I am the listing licensing for this property and so I'm very familiar with it. Under the circumstances the sales person A seller is required by statute to give a buyer a property Condition disclosure report and all the following transactions except For the sale of a commercial property Depositing pre-pay rent and security deposit for one landlord into the firms trust account Depositing pre-pay rent and security deposit for one landlord into the firms trust account A licensee who allows his or her license to labs may not practice however if all other conditions are met the license may be reinstated without monetary penalty up to

• years

An application for a real estate sales person license in Alaska must Not be under indictment for a felony or on parole for conviction of a felony Disclose a conflict of interestIn Alaska, if the landlord wants to terminate a year to year Tennessee, how much notice must the tenant receive?Tenancy by entirety*******A routine audit of a brokers trust account must be conducted between 8 AM and 5 PM Monday through Friday and the investigator or auditor must give the broker at least A broker or sales person would not perform which of the following in preparation for a closing Conduct any title searches that might be required.A sellers listing agreement has expired and the seller list with a different brokerage firm Paul the original Listing license he now has a buyer interested in the sellers property based on this information Paul Cannot disclose to the buyer offer received on the sellers property while it was listed with him Which of the following is exempt from the provisions of the real estate license law An individual who receive compensation for curing perspective buyers or renters of real estate Has failed to properly disclose his or her licensee representation relationships And Alaska a broker may have his or her license suspended or revoked for all the following actions except 72 hoursTo renewal license in Alaska a sales person or broker must've met an application to renew, pay the appropriate fees and Two yearsIf a broker violates the license law, resulting in monetary damage to a consumer, what is the latest date on which the injured party may file a lawsuit they may result in collection from real estate recovery fund?Four monthsAn owner of a condominium, please with the management service for the rental of his unit, recommend the associate broker to the homeowners association. If you associate

agrees to manage the association he or she must Regarding listing agreements in Alaska, which of the following could result in the suspension or Revocation of a