Alaska Law Exam #3 Test Questions
and All Correct Answers 2026
Updated.
Violated the Securities Act. - Answer 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. - Answer 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 - Answer 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. -
Answer 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. - Answer 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. - Answer 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. - Answer Which of the following is included in a Uniform Land Sales
Act public offering statement:
, When the purchasers receive profits from this purchase through non-cash commodities. -
Answer An agent sells a piece of property to three people. In which of the following cases
would the agent have violated the Securities Act?
Issue a stop order. - Answer A non-licensed person is selling in Alaska Hawaii condo time
shares which he does not own. He is caught by the Real Estate Commission. The commission
will initially:
Fraud - Answer The Uniform Land Sales Act contains a section on:
The public offering statement must contain the names of the subdivision street names. - Answer
A company located outside the state of Alaska lists 200 lots located outside of Alaska for sale in
Alaska with an Alaska broker. Which of the following is (are) true?
Tenants by the entireties - Answer How would a married couple normally take ownership to a
condominium?
Salesman Lucky did not violate the Securities Act. - Answer Salesman Lucky sells a five unit
apartment building to three unrelated purchasers. Which of the following is true?
Begin procedures for the courts to make a determination for the Nichols and the Robins. -
Answer Mr. & Mrs. Nichols signed a purchase agreement with Mr. & Mrs. Robins to buy their
house. One month has gone by and the purchase and sale of the home will not be completed
because of a disagreement between the purchasers, Mr. & Mrs. Nichols, and the sellers Mr. &
Mrs. Robins. The Nichols and Robins cannot come to an agreement as to disbursement of the
earnest money. The earnest money is in Broker Jones trust account. Broker Jones should:
Sue Mary Daniels for the commission. - Answer Seller Mary Daniels and Broker Russell have
an oral listing agreement on the seller's home in Wasilla, AK. Broker Russell finds a purchaser for
Mary Daniels. Mary Daniels and the purchaser sign a purchase agreement and the sale closes
and records. Mary Daniels decides she is totally unhappy with Broker Russell and decides not to
pay him a commission. Broker Russell can
$4,545 - Answer Six people in separate transactions file simultaneous claims with the Surety
Fund against Broker Al Smith. Five of the six claims are for $10,000 each, the sixth is for $5,000.
After the hearings, the Real Estate Commission determines all six claims are valid and should be
paid in full. How much money will the sixth person who filed the $5,000 claim get paid from the
fund?
He can have his license revoked. - Answer Broker Adams has commingled his personal funds
and his trust account funds. What can happen to him?
and All Correct Answers 2026
Updated.
Violated the Securities Act. - Answer 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. - Answer 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 - Answer 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. -
Answer 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. - Answer 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. - Answer 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. - Answer Which of the following is included in a Uniform Land Sales
Act public offering statement:
, When the purchasers receive profits from this purchase through non-cash commodities. -
Answer An agent sells a piece of property to three people. In which of the following cases
would the agent have violated the Securities Act?
Issue a stop order. - Answer A non-licensed person is selling in Alaska Hawaii condo time
shares which he does not own. He is caught by the Real Estate Commission. The commission
will initially:
Fraud - Answer The Uniform Land Sales Act contains a section on:
The public offering statement must contain the names of the subdivision street names. - Answer
A company located outside the state of Alaska lists 200 lots located outside of Alaska for sale in
Alaska with an Alaska broker. Which of the following is (are) true?
Tenants by the entireties - Answer How would a married couple normally take ownership to a
condominium?
Salesman Lucky did not violate the Securities Act. - Answer Salesman Lucky sells a five unit
apartment building to three unrelated purchasers. Which of the following is true?
Begin procedures for the courts to make a determination for the Nichols and the Robins. -
Answer Mr. & Mrs. Nichols signed a purchase agreement with Mr. & Mrs. Robins to buy their
house. One month has gone by and the purchase and sale of the home will not be completed
because of a disagreement between the purchasers, Mr. & Mrs. Nichols, and the sellers Mr. &
Mrs. Robins. The Nichols and Robins cannot come to an agreement as to disbursement of the
earnest money. The earnest money is in Broker Jones trust account. Broker Jones should:
Sue Mary Daniels for the commission. - Answer Seller Mary Daniels and Broker Russell have
an oral listing agreement on the seller's home in Wasilla, AK. Broker Russell finds a purchaser for
Mary Daniels. Mary Daniels and the purchaser sign a purchase agreement and the sale closes
and records. Mary Daniels decides she is totally unhappy with Broker Russell and decides not to
pay him a commission. Broker Russell can
$4,545 - Answer Six people in separate transactions file simultaneous claims with the Surety
Fund against Broker Al Smith. Five of the six claims are for $10,000 each, the sixth is for $5,000.
After the hearings, the Real Estate Commission determines all six claims are valid and should be
paid in full. How much money will the sixth person who filed the $5,000 claim get paid from the
fund?
He can have his license revoked. - Answer Broker Adams has commingled his personal funds
and his trust account funds. What can happen to him?
