Alaska Law Exam Questions and Answers

Violated the Securities Act. Broker Jones lists a $3.2 million building located in Anchorage. After an unsuccessful attempt at finding a single purchaser with the required $500,000 down payment, Broker Jones decides to advertise the property for sale on television. In the advertisement he states he is looking for twenty people to syndicate and purchase property together. Broker Jones has: Violated the Securities Act. Broker Buck has grouped five people with $50,000 each to purchase a ten unit apartment building. He helps them form a syndication to purchase the building. Broker Buck has: The Broker violated the trust account section of the real estate laws Salesman Smith accepted a gold nugget appraised for $2,000 as earnest money from a purchaser. He conveys this information when presenting the offer to purchase to the seller who accepts the gold nugget as earnest money. Salesman Smith turns the gold nugget and the appraisal into his Broker at 6:00pm the same day the offer was written by the purchaser. Since it was too late to deposit the gold nugget with a bank or trust company the Broker placed the gold nugget in a locked desk drawer until the morning. Which of the following is true: Broker Buck can accept the ticket, but must obtain approval from the seller of the home. Broker Buck sells a house to Mrs. Brown. The transaction closes and the deed is recorded. Mrs. Brown is so thrilled and happy with the house that she gives Broker Buck a round trip ticket to Hawaii as thank you. Which of the following is true? Two month's rent. What can be the total amount of prepaid rent and/or security deposit on a rental? The surety fund claim is dropped, the license claim continues. A purchaser files with the commission a surety fund claim and a claim against the salesman's license. The salesman arranges to pay the claimant (purchaser) a settlement and does so. Which of the following is true in regards to the surety fund claim and the license claim. Street names. Name of the owner-developer. Location of the property. Which of the following is included in a Uniform Land Sales Act public offering statement: