ALASKA REAL ESTATE CORE EXAM MANUAL 2025/2026
QUESTIONS WITH ANSWERS RATED A+
✔✔You've just received a potential listing referral from a licensee friend in another city.
Besides calling the sellers, what's one thing you can do right at the beginning to start
getting a feel for the property? - ✔✔Check Google Maps to get an idea of the property's
street view, landscaping, lot privacy, and neighboring properties.
✔✔These types of buyers want to purchase larger or newer homes. They're fairly
knowledgeable because they've purchased before. - ✔✔Trade-up buyers
✔✔Which of the following information can be found in a subject property's former listing
on the MLS? - ✔✔Amenities at time of listing
✔✔Misti, your client, is looking at a three-bedroom, two-bathroom home in a brand new
suburban neighborhood. Misti is a young professional who works downtown. What do
you tell her? - ✔✔"You'll want to get a home inspection, even though it's new
construction."
✔✔Owner-occupied fixers requiring major work may be eligible for ______. -
✔✔Rehabilitation loans
✔✔Clem, a licensee, told his buyers of a new construction property that they wouldn't
have to worry about a home inspection. Is this correct? - ✔✔No. New construction may
have repair issues.
✔✔Which of the following may be the result of building delays on a new construction? -
✔✔A delay in closing
✔✔Bessie is a(n) ______ buyer who focuses on distressed properties and deep
discounts. She often pays with cash. - ✔✔Investor
✔✔Percy wants to buy unimproved land. When he contacted his lender, he was
surprised to find that he would need a 50% down payment. Why is that? - ✔✔There's
more risk financing unimproved land.
✔✔You can't move land, and location plays a huge role in the value of real estate. This
refers to the ______ of the real estate market. - ✔✔Immobility
✔✔Shane is preparing a CMA. He may need to make an adjustment to a comparable
for which item of difference from the subject property? - ✔✔Busy street
,✔✔A buyer has assembled quite a list of repairs he'd like the seller to make. The seller,
fearing she might lose this buyer, agrees to every item on the list. In what type of market
is this concern most valid? - ✔✔cold
✔✔Larry is buying a new home and he makes an offer that's quite a bit under list price.
The seller, fearing she might lose this buyer, agrees to Larry's offer. In what type of
market is this concern most valid? - ✔✔cold
✔✔Price levels are an obvious indicator of ______. - ✔✔demand
✔✔Home affordability is affected by government controls and policies, such as ______.
- ✔✔Interest rates, property tax rates, and the availability of funds for loans
✔✔What makes real estate unique? - ✔✔Indestructability
✔✔When your broker explains market value, she would be correct to state what? -
✔✔"It's the probable sales price if the property were listed today and a willing seller and
buyer were involved in the transfer of ownership."
✔✔Which of these is the correct definition for market value? - ✔✔The probable price at
which a willing seller and a willing buyer, neither of whom are under undue pressure,
would transact a sale in a competitive and open market
✔✔Which of these dangers might buyer's agents see from clients in a cold market? -
✔✔Waiting too long and missing the market
✔✔David is performing a market analysis, and he's gathered comparable sales data.
Why might he also want to gather information on comparable properties that expired
without selling? - ✔✔To demonstrate the price at which a comparable property won't
sell
✔✔How do vacancy rates work as a real estate market indicator? - ✔✔When vacancy
rates decrease, more renters move into the buying market.
✔✔When preparing a market analysis, several factors can be used for comparability.
Which of these would be a good factor to use? - ✔✔Condition of sale
✔✔Pembra's search for comparables turned up 65. What should she do? - ✔✔Screen
by those that are most similar to the subject property
✔✔A buyer is reluctant to ask for repairs and risk the seller accepting a different offer. In
what type of market is this concern most valid? - ✔✔Hot
, ✔✔What market indicator is expressed as the number of months it takes to sell homes
at the current rate of sales? - ✔✔Inventory rates
✔✔In Janie's comparative market analysis, Comp A has an adjusted price of $118,000;
Comp B, $112,500 and Comp C, $121,300. What would be a good way to use this
data? - ✔✔Give the greatest weight to the comp most similar to the subject property.
✔✔Adam has completed his CMA. The average of the adjusted prices for his three
comparables is $263,333, and the comparable that required the fewest adjustments
ended up with a price of $265,000. What's Adam's next step? - ✔✔Consider other data
from her market analysis before recommending a list price range
✔✔You're about to present a CMA to your seller clients. Why might you include a seller
net sheet? - ✔✔To show the sellers what the recommended list price will net them
✔✔Which of the following factors, when performing a market analysis, would require an
adjustment to a comparable property? - ✔✔Square footage differences
✔✔Which of the following is a true statement about pricing strategy for a market
analysis? - ✔✔What the seller paid in the past has no bearing on today's pricing
strategy.
✔✔Ideally, how many comparables should be used for a CMA? - ✔✔At least three
✔✔In your area, a gourmet kitchen is valued at $20,000, a garage at $5,000, and a
bedroom at $10,000. Your subject has a gourmet kitchen, three bedrooms, and a
garage. Which is these comparables' adjustments is correct? - ✔✔Comp A sold for
$300,000. It has three bedrooms, a standard kitchen, and a carport. Adjusted price:
$325,000
✔✔When performing a market analysis, given the adjusted sales prices of three
comparables, which comparable would you weigh most heavily? - ✔✔The one that
required less adjustment
✔✔When performing a market analysis, the fewer adjustments that must be made to a
comparable, _______. - ✔✔The more similar it is to the subject property
✔✔When performing a market analysis, what do you do with the adjusted sales prices
of comparables to determine market value of the subject property? - ✔✔Weigh the
comparable with the least adjustments to sales price most heavily
✔✔Dale's clients are getting ready to list their home, and comparable sales indicate a
market value of $410,000 to $425,000. But comparable active listings are priced from
QUESTIONS WITH ANSWERS RATED A+
✔✔You've just received a potential listing referral from a licensee friend in another city.
Besides calling the sellers, what's one thing you can do right at the beginning to start
getting a feel for the property? - ✔✔Check Google Maps to get an idea of the property's
street view, landscaping, lot privacy, and neighboring properties.
✔✔These types of buyers want to purchase larger or newer homes. They're fairly
knowledgeable because they've purchased before. - ✔✔Trade-up buyers
✔✔Which of the following information can be found in a subject property's former listing
on the MLS? - ✔✔Amenities at time of listing
✔✔Misti, your client, is looking at a three-bedroom, two-bathroom home in a brand new
suburban neighborhood. Misti is a young professional who works downtown. What do
you tell her? - ✔✔"You'll want to get a home inspection, even though it's new
construction."
✔✔Owner-occupied fixers requiring major work may be eligible for ______. -
✔✔Rehabilitation loans
✔✔Clem, a licensee, told his buyers of a new construction property that they wouldn't
have to worry about a home inspection. Is this correct? - ✔✔No. New construction may
have repair issues.
✔✔Which of the following may be the result of building delays on a new construction? -
✔✔A delay in closing
✔✔Bessie is a(n) ______ buyer who focuses on distressed properties and deep
discounts. She often pays with cash. - ✔✔Investor
✔✔Percy wants to buy unimproved land. When he contacted his lender, he was
surprised to find that he would need a 50% down payment. Why is that? - ✔✔There's
more risk financing unimproved land.
✔✔You can't move land, and location plays a huge role in the value of real estate. This
refers to the ______ of the real estate market. - ✔✔Immobility
✔✔Shane is preparing a CMA. He may need to make an adjustment to a comparable
for which item of difference from the subject property? - ✔✔Busy street
,✔✔A buyer has assembled quite a list of repairs he'd like the seller to make. The seller,
fearing she might lose this buyer, agrees to every item on the list. In what type of market
is this concern most valid? - ✔✔cold
✔✔Larry is buying a new home and he makes an offer that's quite a bit under list price.
The seller, fearing she might lose this buyer, agrees to Larry's offer. In what type of
market is this concern most valid? - ✔✔cold
✔✔Price levels are an obvious indicator of ______. - ✔✔demand
✔✔Home affordability is affected by government controls and policies, such as ______.
- ✔✔Interest rates, property tax rates, and the availability of funds for loans
✔✔What makes real estate unique? - ✔✔Indestructability
✔✔When your broker explains market value, she would be correct to state what? -
✔✔"It's the probable sales price if the property were listed today and a willing seller and
buyer were involved in the transfer of ownership."
✔✔Which of these is the correct definition for market value? - ✔✔The probable price at
which a willing seller and a willing buyer, neither of whom are under undue pressure,
would transact a sale in a competitive and open market
✔✔Which of these dangers might buyer's agents see from clients in a cold market? -
✔✔Waiting too long and missing the market
✔✔David is performing a market analysis, and he's gathered comparable sales data.
Why might he also want to gather information on comparable properties that expired
without selling? - ✔✔To demonstrate the price at which a comparable property won't
sell
✔✔How do vacancy rates work as a real estate market indicator? - ✔✔When vacancy
rates decrease, more renters move into the buying market.
✔✔When preparing a market analysis, several factors can be used for comparability.
Which of these would be a good factor to use? - ✔✔Condition of sale
✔✔Pembra's search for comparables turned up 65. What should she do? - ✔✔Screen
by those that are most similar to the subject property
✔✔A buyer is reluctant to ask for repairs and risk the seller accepting a different offer. In
what type of market is this concern most valid? - ✔✔Hot
, ✔✔What market indicator is expressed as the number of months it takes to sell homes
at the current rate of sales? - ✔✔Inventory rates
✔✔In Janie's comparative market analysis, Comp A has an adjusted price of $118,000;
Comp B, $112,500 and Comp C, $121,300. What would be a good way to use this
data? - ✔✔Give the greatest weight to the comp most similar to the subject property.
✔✔Adam has completed his CMA. The average of the adjusted prices for his three
comparables is $263,333, and the comparable that required the fewest adjustments
ended up with a price of $265,000. What's Adam's next step? - ✔✔Consider other data
from her market analysis before recommending a list price range
✔✔You're about to present a CMA to your seller clients. Why might you include a seller
net sheet? - ✔✔To show the sellers what the recommended list price will net them
✔✔Which of the following factors, when performing a market analysis, would require an
adjustment to a comparable property? - ✔✔Square footage differences
✔✔Which of the following is a true statement about pricing strategy for a market
analysis? - ✔✔What the seller paid in the past has no bearing on today's pricing
strategy.
✔✔Ideally, how many comparables should be used for a CMA? - ✔✔At least three
✔✔In your area, a gourmet kitchen is valued at $20,000, a garage at $5,000, and a
bedroom at $10,000. Your subject has a gourmet kitchen, three bedrooms, and a
garage. Which is these comparables' adjustments is correct? - ✔✔Comp A sold for
$300,000. It has three bedrooms, a standard kitchen, and a carport. Adjusted price:
$325,000
✔✔When performing a market analysis, given the adjusted sales prices of three
comparables, which comparable would you weigh most heavily? - ✔✔The one that
required less adjustment
✔✔When performing a market analysis, the fewer adjustments that must be made to a
comparable, _______. - ✔✔The more similar it is to the subject property
✔✔When performing a market analysis, what do you do with the adjusted sales prices
of comparables to determine market value of the subject property? - ✔✔Weigh the
comparable with the least adjustments to sales price most heavily
✔✔Dale's clients are getting ready to list their home, and comparable sales indicate a
market value of $410,000 to $425,000. But comparable active listings are priced from
