Alaska License LawIntermediateAlaska Exam
An Alaska broker who discovers evidence of fraud in a transaction the broker is not directly involved in has an obligation to:
AStay out of it — the broker has no duty outside their own transactions, across most transactions
BReport the suspected fraud to the Alaska Real Estate Commission and potentially law enforcementCorrect
CConfront the other broker directly before taking any other action
DOnly act if the fraud involves the broker's own clients
Why Report the suspected fraud to the Alaska Real Estate Commission and potentially law enforcement Is Correct
Answer B: Report the suspected fraud to the Alaska Real Estate Commission and potentially law enforcement
Real estate professionals in Alaska have ethical and potentially legal obligations to report suspected fraud to appropriate authorities. Concealing or ignoring known fraud can constitute complicity and may itself be a violation of license law.
Key Alaska License Law Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
State-Specific Concepts
License Law
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