Alaska Real Estate Exam Questions and Answers with
Verified Solutions (72 Questions)
This exam prep document contains 72 unique multiple-choice questions covering Alaska real
estate law, Commission rules, licensing requirements, trust account handling, agency
relationships, property disclosures, and general real estate practice principles.
1. How many members serve on the Alaska Real Estate Commission (AREC)?
A. 5 members
B. 7 members
C. 9 members
D. 11 members
Correct Answer: B. 7 members
Explanation: The Alaska Real Estate Commission consists of 7 members appointed by the
Governor: 5 licensed brokers/associate brokers (with at least 5 years of licensing experience
in Alaska) and 2 public members.
2. In Alaska, real estate licenses are renewed on a biennial basis. On what date do
licenses expire?
A. December 31 of odd-numbered years
B. January 31 of even-numbered years
C. January 31 of odd-numbered years
D. June 30 of even-numbered years
Correct Answer: C. January 31 of odd-numbered years
Explanation: Alaska real estate licenses expire every two years on January 31 of odd-
numbered years. Licensees must complete continuing education and pay renewal fees prior
to this deadline.
3. How many hours of Continuing Education (CE) are required for an active real estate
licensee in Alaska per renewal period?
A. 12 hours
B. 20 hours
C. 24 hours
D. 30 hours
Correct Answer: C. 24 hours
Explanation: Active licensees in Alaska must complete 24 hours of approved continuing
, education within each 2-year licensing cycle, including designated mandatory topics set by
the Commission.
4. Which of the following is required for a new salesperson licensee in Alaska within the
first year of licensure?
A. 30 hours of post-licensing education (PLE)
B. 40 hours of post-licensing education (PLE)
C. 10 hours of post-licensing education (PLE)
D. No post-licensing education is required if CE is completed
Correct Answer: A. 30 hours of post-licensing education (PLE)
Explanation: Newly licensed salespersons in Alaska must complete 30 hours of post-
licensing education within 1 year of initial license issuance.
5. What is the minimum length of time an active licensee must hold a salesperson license
before applying for a broker license in Alaska?
A. 12 months
B. 24 consecutive months
C. 36 consecutive months
D. 5 years
Correct Answer: C. 36 consecutive months
Explanation: An applicant for an associate broker or broker license in Alaska must have been
an active licensed salesperson for at least 36 consecutive months prior to application.
6. What mandatory written disclosure must an Alaska licensee present to prospective
consumers upon first personal contact to discuss real estate services?
A. Real Estate Agency Disclosure Notice
B. Consumer Information Statement (CIS)
C. Dual Agency Representation Agreement
D. Property Condition Disclosure Addendum
Correct Answer: B. Consumer Information Statement (CIS)
Explanation: In Alaska, licensees must provide the Consumer Information Statement (CIS) to
prospective buyers and sellers at first personal contact to explain available licensee
relationship options.
7. Under Alaska law, if a licensee represents both the buyer and the seller in the same
transaction with informed written consent, what role is the licensee acting in?
A. Dual Agent
B. Neutral Licensee
, C. Transaction Broker
D. Designated Agent
Correct Answer: B. Neutral Licensee
Explanation: Alaska real estate statutes replace traditional dual agency with the statutory role
of a "Neutral Licensee," who assists both parties without advocating exclusively for either.
8. How long must an Alaska real estate broker maintain transaction records, trust
account records, and client documents?
A. 1 year
B. 3 years
C. 5 years
D. 7 years
Correct Answer: B. 3 years
Explanation: Alaska Real Estate Commission regulations require brokers to retain all trust
account records, transaction files, contracts, and disclosures for a minimum of 3 years.
9. When must earnest money collected by a salesperson be remitted to the employing
broker?
A. Immediately upon receipt
B. Within 3 business days
C. Upon mutual acceptance of the contract
D. At closing
Correct Answer: A. Immediately upon receipt
Explanation: Salespersons in Alaska must deliver all earnest money funds, checks, or
deposits to their employing broker immediately upon receipt.
10. Once an earnest money deposit is given to the broker, within how many days must it
be deposited into the trust account?
A. Immediately or by the next banking day after acceptance
B. Within 5 business days
C. Within 10 calendar days
D. At the discretion of the buyer
Correct Answer: A. Immediately or by the next banking day after acceptance
Explanation: Unless agreed otherwise in writing by the parties, a broker must deposit earnest
money into the trust account by the next banking day following mutual acceptance of the
purchase agreement.
Verified Solutions (72 Questions)
This exam prep document contains 72 unique multiple-choice questions covering Alaska real
estate law, Commission rules, licensing requirements, trust account handling, agency
relationships, property disclosures, and general real estate practice principles.
1. How many members serve on the Alaska Real Estate Commission (AREC)?
A. 5 members
B. 7 members
C. 9 members
D. 11 members
Correct Answer: B. 7 members
Explanation: The Alaska Real Estate Commission consists of 7 members appointed by the
Governor: 5 licensed brokers/associate brokers (with at least 5 years of licensing experience
in Alaska) and 2 public members.
2. In Alaska, real estate licenses are renewed on a biennial basis. On what date do
licenses expire?
A. December 31 of odd-numbered years
B. January 31 of even-numbered years
C. January 31 of odd-numbered years
D. June 30 of even-numbered years
Correct Answer: C. January 31 of odd-numbered years
Explanation: Alaska real estate licenses expire every two years on January 31 of odd-
numbered years. Licensees must complete continuing education and pay renewal fees prior
to this deadline.
3. How many hours of Continuing Education (CE) are required for an active real estate
licensee in Alaska per renewal period?
A. 12 hours
B. 20 hours
C. 24 hours
D. 30 hours
Correct Answer: C. 24 hours
Explanation: Active licensees in Alaska must complete 24 hours of approved continuing
, education within each 2-year licensing cycle, including designated mandatory topics set by
the Commission.
4. Which of the following is required for a new salesperson licensee in Alaska within the
first year of licensure?
A. 30 hours of post-licensing education (PLE)
B. 40 hours of post-licensing education (PLE)
C. 10 hours of post-licensing education (PLE)
D. No post-licensing education is required if CE is completed
Correct Answer: A. 30 hours of post-licensing education (PLE)
Explanation: Newly licensed salespersons in Alaska must complete 30 hours of post-
licensing education within 1 year of initial license issuance.
5. What is the minimum length of time an active licensee must hold a salesperson license
before applying for a broker license in Alaska?
A. 12 months
B. 24 consecutive months
C. 36 consecutive months
D. 5 years
Correct Answer: C. 36 consecutive months
Explanation: An applicant for an associate broker or broker license in Alaska must have been
an active licensed salesperson for at least 36 consecutive months prior to application.
6. What mandatory written disclosure must an Alaska licensee present to prospective
consumers upon first personal contact to discuss real estate services?
A. Real Estate Agency Disclosure Notice
B. Consumer Information Statement (CIS)
C. Dual Agency Representation Agreement
D. Property Condition Disclosure Addendum
Correct Answer: B. Consumer Information Statement (CIS)
Explanation: In Alaska, licensees must provide the Consumer Information Statement (CIS) to
prospective buyers and sellers at first personal contact to explain available licensee
relationship options.
7. Under Alaska law, if a licensee represents both the buyer and the seller in the same
transaction with informed written consent, what role is the licensee acting in?
A. Dual Agent
B. Neutral Licensee
, C. Transaction Broker
D. Designated Agent
Correct Answer: B. Neutral Licensee
Explanation: Alaska real estate statutes replace traditional dual agency with the statutory role
of a "Neutral Licensee," who assists both parties without advocating exclusively for either.
8. How long must an Alaska real estate broker maintain transaction records, trust
account records, and client documents?
A. 1 year
B. 3 years
C. 5 years
D. 7 years
Correct Answer: B. 3 years
Explanation: Alaska Real Estate Commission regulations require brokers to retain all trust
account records, transaction files, contracts, and disclosures for a minimum of 3 years.
9. When must earnest money collected by a salesperson be remitted to the employing
broker?
A. Immediately upon receipt
B. Within 3 business days
C. Upon mutual acceptance of the contract
D. At closing
Correct Answer: A. Immediately upon receipt
Explanation: Salespersons in Alaska must deliver all earnest money funds, checks, or
deposits to their employing broker immediately upon receipt.
10. Once an earnest money deposit is given to the broker, within how many days must it
be deposited into the trust account?
A. Immediately or by the next banking day after acceptance
B. Within 5 business days
C. Within 10 calendar days
D. At the discretion of the buyer
Correct Answer: A. Immediately or by the next banking day after acceptance
Explanation: Unless agreed otherwise in writing by the parties, a broker must deposit earnest
money into the trust account by the next banking day following mutual acceptance of the
purchase agreement.
