Alaska License LawIntermediateAlaska Exam
Under Alaska real estate regulations, which of the following is the PRIMARY test for determining whether a person needs a real estate license?
AWhether the person is a full-time professional
BWhether the person is performing real estate activities on behalf of another for compensationCorrect
CWhether the property being sold is worth more than $100,000, as is typical in most transactions
DWhether the person has a business license
Why Whether the person is performing real estate activities on behalf of another for compensation Is Correct
Answer B: Whether the person is performing real estate activities on behalf of another for compensation
The primary trigger for the licensing requirement is acting on behalf of another person for compensation in real estate activities. Managing one's own property, buying or selling one's own real estate, or acting for free does not require a license.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
State-Specific Concepts
License Law
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