Alaska License LawIntermediateAlaska Exam
Commingling of client funds in Alaska means:
ADepositing client funds into the broker's personal or operating accountCorrect
BAccepting earnest money from multiple clients
CDepositing funds from two separate transactions in the same trust account
DCharging different commission rates to different clients
Why Depositing client funds into the broker's personal or operating account Is Correct
Answer A: Depositing client funds into the broker's personal or operating account
Commingling is the prohibited practice of mixing client trust funds with the broker's personal or business operating funds. Each brokerage must maintain a separate trust account.
Key Alaska License Law Terms in This Question
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
Math Concepts
State-Specific Concepts
Trust Account Rules
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