Alaska License LawIntermediateAlaska Exam
The Alaska Real Estate Commission is authorized to issue a 'cease and desist' order against:
AOnly licensed real estate professionals
BAny person, licensed or unlicensed, engaging in unauthorized real estate activityCorrect
COnly parties to real estate transactions
DOnly financial institutions making improper loans, subject to the usual exceptions
Why Any person, licensed or unlicensed, engaging in unauthorized real estate activity Is Correct
Answer B: Any person, licensed or unlicensed, engaging in unauthorized real estate activity
The Alaska Real Estate Commission can issue cease and desist orders against anyone — licensed or unlicensed — who is engaging in unauthorized real estate brokerage activity. This includes unlicensed persons who act as agents or brokers for compensation.
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Key Terms to Know
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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Math Concepts
State-Specific Concepts
License Law
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