Alaska License LawIntermediateAlaska Exam
An Alaska licensee who is asked by a client to help them purchase a property in a specialized area (such as commercial real estate) in which they have no experience must:
AAccept the assignment since they are licensed
BDisclose their lack of experience and either develop the necessary competence or refer the client to a qualified professionalCorrect
CComplete 10 hours of additional education before proceeding, a position that many in the industry would generally find reasonable
DRequest a temporary commercial license from the Commission
Why Disclose their lack of experience and either develop the necessary competence or refer the client to a qualified professional Is Correct
Answer B: Disclose their lack of experience and either develop the necessary competence or refer the client to a qualified professional
USPAP and professional ethics require agents to be competent in the area of practice. A residential agent without commercial real estate experience should disclose this limitation to the client and either acquire the necessary competence (through education and/or working with a mentor) or refer the client to a qualified commercial specialist.
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