Alaska License LawIntermediateAlaska Exam
Under Alaska law, a salesperson who receives a referral fee from an out-of-state broker for referring a client must ensure that:
AThe fee is paid directly to the salesperson
BThe fee is paid to and through the employing broker before reaching the salespersonCorrect
CThe client consents to the referral
DThe fee is reported to the Alaska Real Estate Commission, under typical circumstances
Why The fee is paid to and through the employing broker before reaching the salesperson Is Correct
Answer B: The fee is paid to and through the employing broker before reaching the salesperson
Referral fees and all other real estate compensation must flow through the employing broker. A salesperson may not receive compensation directly from another broker or from clients — all payments must be made to the broker, who then compensates the salesperson.
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.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
Math Concepts
State-Specific Concepts
License Law
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