A real estate salesperson in Alaska receives an earnest money deposit from a buyer. The salesperson should:
Why Promptly deliver it to their employing broker for deposit into the trust account Is Correct
Answer C: Promptly deliver it to their employing broker for deposit into the trust account
Key Alaska License Law Terms in This Question
People Also Study
Related Alaska Questions
- A licensee who receives an earnest money check but cannot deposit it in the trust account immediately because the bank is closed must:Alaska License Law
- An Alaska broker who receives an earnest money deposit must maintain a separate trust account and may NOT:Alaska License Law
- Under Alaska's trust account requirements, when must an earnest money check be deposited in the broker's trust account?Escrow & Title
- An Alaska real estate salesperson wants to advertise their services independently without mentioning their employing broker. This is:Alaska License Law
- Under Alaska law, trust account funds belonging to clients must be kept:Alaska License Law
- An earnest money deposit in Alaska is best described as:Contracts
- In an Alaska closing, the buyer's earnest money deposit is shown on the settlement statement as:Escrow & Title
- A buyer defaults on a purchase contract in Alaska. If the contract contains a liquidated damages clause limited to the earnest money, the seller's remedy is:Contracts
Key Terms to Know
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
Math Concepts
State-Specific Concepts
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →