Alaska Exam Study Guide Questions and Answers Already Passed

Alaska Exam Study Guide Questions and Answers Already Passed 1. The Alaska real estate commission. A) makes and enforces the regulations by which all real estate licensees must abide. B) must compose examination questions on the real estate exam. C) May administer the exams given at the testing sites. D) Enacts the laws govern real estate licenses. A) Makes and enforces regulations by which all real estate licensees must abide. 2). The Alaska real estate commission may undertake an investigation of a licensee based on all the following ground except A) It's own initiative. B) A random selection of licenses. C) a Motion from the members of the commission. D) A written complaint submitted by a disgruntled customer. B) A random selection of licenses. 3) A routine audit of a brokers trust account must be conducted between 8 AM and 5 PM Monday through Friday and the investigator/auditor must give the broker at least A) One hours prior notice B) 24 hours prior notice C) 48 hours prior notice D) 72 hours prior notice D) 72 hours prior notice 4. If the Alaska real estate commission directs the investigator to conduct an unannounced trust account audit, a broker may request a 24 hour delay A) to assemble the records to be audited B) to reconcile the most recent bank statement. C) to meet schedule obligations, but the records to be audited must be sealed by the investigator and unavailable to the broker during that time. D) but any delay must be authorized by the real estate commission. C) to meet schedule obligations, but the records to be audited must be sealed by the investigator and unavailable to the broker during that time. 5) in Alaska, who are the following would need to be a licensed real estate broker or sales person? A) person who employs fewer than three apartment licensees. B) licensed attorney acting under a power of attorney to convey real estate. C) resident apartment manager working for an owner if the managers primary residence is the apartment building being managed. D) partnership selling a building owned by the partners. A) person who employs fewer than three apartment licensees. 6. Which of the following requires a real estate license in Alaska? A) resident manager who collects rent on behalf of building owner. B) Company that for a fee (not a commission) matches individuals from different parts of the country who want to exchange properties and then assist them in doing so. C) attorney-in-fact who is a nephew of the property owner. D) executor selling a decedents building. B) Company that for a fee (not commission) matches individuals from different parts of the country who want to exchange properties and then assist them in doing so. 7) under Alaska Leather, any person who acts as a real property securities dealer must A) be licensed as a real estate broker. B) have his or her securities license endorsed by the Alaska real estate commission. C) be approved by the SEC. D) there are no special license to requirements for real property securities dealers. A) be licensed as a real estate broker. 8) Which of the following does not require a real estate license? A) Managing a homeowners' association B) Reselling a mobile home under a court order C) Selling real estate d) collecting rent for the use of real estate B) Reselling a mobile under a court order. 9) If engaged in real estate activities, which of the following are exempt from the real estate licensing requirement? A) attorney at law B) appraisers C) associations, partnerships and corporations. D) real property securities dealer. A) attorney-at-law 10) The office manager for a local real estate firm is responsible for the following activities: coordinating the flow of paperwork through the office, preparing forms and advertising copy, and hiring and supervising clerical personnel. The office manager is A) Violating the license law B) Required to have a brokers license C) required to have a sales person's license. D) Exempt from real estate licensing requirement. D) exempt from real estate licensing requirement. 11) In Alaska, applications for any real estate license must be submitted with the original score report form and the "salesperson by examination" form signed by an employing broker and accompanied by A) A certificate of completion of the required pre-licensing education. B) evidence of realtor membership. C) an example fee of $120. D) a sworn statement attesting to the applicants character. 12) In Alaska, which of the following is required to obtain a brokers license? A) successful completion of 90 hours of approved real state courses. B) Be at least 21 years of age C) Have at least three years of active experience as a licensed sales person D) owner real estate franchise office B) Be at least 21 years of age 13) Maria successfully completed her real estate education requirement and passed the exam on November 1, 2008. What is the latest date on which she may apply for sales person's license? A) December 31, 2008 B) May 1, 2009 C) October 31, 2009 D) November 1, 2010 B) May 1, 2009 14) The Alaska real estate commission receives an application for a real estate sales person's license from a "retired" developer/general contractor. He answered "no "to a question about ever having a professional license denied, revoked, or suspended. When processing the application, the licensing examiner reviewed his contractor license file and found the contractors license renewal was denied because of delinquent child support payments. The commission has grounds for denying the license because the applicant A) Failed to make child support payments B) Gave false information on the application C) And tell him to continue building, doing one room at a time for himself, and then selling it before beginning the next D) Who is applying to work in an office with no training program for new licenses. B) Gave false information on the application. 15) Three weeks before Neil begins his real estate pre-license class, he offers to help his neighbor sell her house. The neighbor agrees to pay him a 5% commission. An offer is accepted while Neil is taking the class and closed the day before he passes the examination and receives his salesperson's license. The neighbor refuses to pay Neil the agreed commission. Can he sue to recover payment? A) Yes, because Neil was formally enrolled in a course of study intended to result in a real estate license at the time and offer was procured and excepted, the commission agreement is binding. B) no, a real estate sales person must have a permanent office in which his or her license is displayed in order to collect a commission from a seller. C) Yes, while the statute of frauds for bids recovery on an oral agreement for the conveyance of real property, state law permits enforcement of an oral commission contract under these fa D) no, state law prohibits lawsuits to collect commissions unless the injured party is a licensed broker and the license was in effect before the agreement was reached. 16) which of the following persons must have an active real estate license in order to transact business? A) Person who owns a six Plex and personally manages the building, collects rents and shows the apartments to prospective tenants. B) Person who negotiates the sales of the entire businesses, including their stock equipment and buildings, for promised fee C) resident manager of a large apartment building who shows apartments to prospective tenants as a part of his Or her regular duties. D) person who has his or her parents power of attorney to negotiate the sale of a parents residence. B) person who negotiates the sales of the entire businesses, including their stock equipment and buildings, for a promised fee. 17) an applicant for a real estate sales person's license in Alaska must A) Have completed at least two years of B) Be at least 21 years of age C) Not be under indictment for a felony or on parole for conviction of a felony. D) show proof of passing the license examination anytime up to one year prior to the application. C) not be under indictment for a felony or on parole for conviction of a felony. 18) An unlicensed individual who engages in activities for which a real estate license is required is subject to which of the following penalties? A) fine not to exceed $1000 B) Fine not to exceed $1000 and one year in prison meant. C) Civil penalty of $5000 in addition to other penalties provided by law. D) civil penalty not to exceed $5000 in a mandatory prison term not to exceed five years. C) civil penalty of $5000 in addition to other penalties provided by law. 19) when do real estate sales person's license is expired in Alaska? A) March 31 of every odd numbered year B) June 30 of every even number year C) December 31 of the third year of licensure D) January 31 of every even numbered year D) January 31 of every even numbered year 20) to renew a license in Alaska, a sales person or broker must submit an application to renew, pay the appropriate fees, and A) Complete 12 hours of continuing education in the 12 months prior to renewal. B) Actively participate in the real estate business. C) Complete six hours of continuing education in the two years prior to renewal; three hours in real estate law and three hours and fair housing. D) Complete 20 hours of continuing education in the two years prior to renewal D) complete Tony hours of continuing education in the two years prior to renewal