Alaska Real Estate License & Property
Law: Key Facts & Regulations Exam
and Answers 2026.
Who issues a real estate license in Alaska? - Answer Alaska Department of Commerce,
Community & Economic Development
Who must sponsor an Alaska real estate salesperson? - Answer A licensed broker
How many hours of pre-licensing education are required in Alaska? - Answer 40 hours
How often must an Alaska real estate license be renewed? - Answer Every 2 years
How long must earnest money be deposited into a trust account in Alaska? - Answer 3
banking days
Where must a broker's trust account be located? - Answer In Alaska
For how many years must transaction records be retained in Alaska? - Answer 6 years
What is required for dual agency in Alaska? - Answer Written informed consent
What does designated agency allow? - Answer Different agents in the same brokerage to
represent buyer and seller
How many members are on the Alaska Real Estate Commission? - Answer 7 members
Who is responsible for supervising licensees? - Answer The broker
What is generally required for property disclosure in Alaska? - Answer Residential sales
What may result from failure to disclose a known material defect? - Answer Disciplinary
action and civil liability
What is commingling? - Answer Mixing client funds with broker funds
, What is conversion? - Answer Using client funds for personal use
What is a real estate trust account used for? - Answer Holding client funds
What must advertising by a licensee include? - Answer The brokerage name
How many days does a broker have to notify the Commission of an address change? - Answer
10 days
From whom can a salesperson receive commission? - Answer Only their employing broker
What relationship allows limited representation without fiduciary duties? - Answer
Transaction licensee
What does a fee simple estate represent? - Answer Highest form of ownership
When does a life estate end? - Answer Death of measuring life
What unities are required for joint tenancy? - Answer Time, title, interest, possession
What does tenancy in common include? - Answer Unequal ownership possible
What does severalty mean? - Answer Sole ownership
What benefits from an easement appurtenant? - Answer A parcel of land
Who benefits from an easement in gross? - Answer A person or company
What does encumbrance mean? - Answer Claim against property
What type of encumbrance is a lien? - Answer Financial claim
What does adverse possession require? - Answer Open, notorious, hostile, continuous
possession
What is indestructibility in land? - Answer Physical characteristic
Law: Key Facts & Regulations Exam
and Answers 2026.
Who issues a real estate license in Alaska? - Answer Alaska Department of Commerce,
Community & Economic Development
Who must sponsor an Alaska real estate salesperson? - Answer A licensed broker
How many hours of pre-licensing education are required in Alaska? - Answer 40 hours
How often must an Alaska real estate license be renewed? - Answer Every 2 years
How long must earnest money be deposited into a trust account in Alaska? - Answer 3
banking days
Where must a broker's trust account be located? - Answer In Alaska
For how many years must transaction records be retained in Alaska? - Answer 6 years
What is required for dual agency in Alaska? - Answer Written informed consent
What does designated agency allow? - Answer Different agents in the same brokerage to
represent buyer and seller
How many members are on the Alaska Real Estate Commission? - Answer 7 members
Who is responsible for supervising licensees? - Answer The broker
What is generally required for property disclosure in Alaska? - Answer Residential sales
What may result from failure to disclose a known material defect? - Answer Disciplinary
action and civil liability
What is commingling? - Answer Mixing client funds with broker funds
, What is conversion? - Answer Using client funds for personal use
What is a real estate trust account used for? - Answer Holding client funds
What must advertising by a licensee include? - Answer The brokerage name
How many days does a broker have to notify the Commission of an address change? - Answer
10 days
From whom can a salesperson receive commission? - Answer Only their employing broker
What relationship allows limited representation without fiduciary duties? - Answer
Transaction licensee
What does a fee simple estate represent? - Answer Highest form of ownership
When does a life estate end? - Answer Death of measuring life
What unities are required for joint tenancy? - Answer Time, title, interest, possession
What does tenancy in common include? - Answer Unequal ownership possible
What does severalty mean? - Answer Sole ownership
What benefits from an easement appurtenant? - Answer A parcel of land
Who benefits from an easement in gross? - Answer A person or company
What does encumbrance mean? - Answer Claim against property
What type of encumbrance is a lien? - Answer Financial claim
What does adverse possession require? - Answer Open, notorious, hostile, continuous
possession
What is indestructibility in land? - Answer Physical characteristic
