Alaska License LawIntermediateAlaska Exam
A new Alaska real estate salesperson who has just received their license must know that they can begin practicing real estate only when:
AThey have memorized all Alaska statutes
BTheir license is issued and they are affiliated with a licensed employing brokerCorrect
CThey have completed their first transaction
DThey have purchased E&O insurance independently, as is typical in most transactions
Why Their license is issued and they are affiliated with a licensed employing broker Is Correct
Answer B: Their license is issued and they are affiliated with a licensed employing broker
A salesperson may not practice real estate until their license is issued AND they are affiliated with a licensed employing broker. The broker must activate the license through the Commission.
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Key Terms to Know
Right of First Refusal
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Math Concepts
State-Specific Concepts
License Law
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