Alaska Real Estate Salesperson Exam — All Questions

Before a consumer shares confidential information, an Alaska licensee should:

• a.Order a title commitment
• b.File an offer with the Commission
• c.Provide a written disclosure of the real estate relationship identifying whom the licensee represents✓
• d.Collect an earnest money deposit

Alaska requires licensees to disclose the nature of the real estate relationship in writing, identifying whether the licensee represents the seller, the buyer, both, or neither. Making this disclosure early, before the consumer reveals confidential information, helps the consumer make informed decisions about representation.

In Alaska, a licensee may act as a dual agent representing both the buyer and the seller in the same transaction only when:

• a.The employing broker approves after closing
• b.Both parties give informed written consent✓
• c.The Commission issues a waiver
• d.The transaction price exceeds a set amount

Dual agency is permitted only with the informed written consent of both the buyer and the seller. A dual agent must stay neutral on price and terms and may not reveal one party's confidential negotiating information to the other, because dual agency limits the advocacy each client would otherwise receive.

Before showing property to an unrepresented buyer while representing the seller, an Alaska licensee who wants to act as a neutral licensee must obtain a written consent that:

• a.May be included as a clause in the purchase agreement itself
• b.Is recorded with the district recorder
• c.Is a separate form titled Waiver of Right To Be Represented✓
• d.Is signed only by the licensee's broker

The written consent must be provided on a separate form, may not be contained in another writing, and must be entitled Waiver of Right To Be Represented. The commission's own form of that name, dated April 2024, is adopted by reference. Cite: AS 08.88.610(c); 12 AAC 64.119.

Without the consent of the person the information concerns, an Alaska neutral licensee may not disclose:

• a.The square footage stated in the listing
• b.The days the listing has been on the market
• c.The identity of the other party
• d.That the buyer would pay more✓

A neutral licensee may not disclose, without the consent of the person the information relates to, that the buyer or lessee will pay more than the price offered, that the seller or lessor will take less than the asking price, or that a party will agree to financing terms other than those offered. Cite: AS 08.88.645(a)(5).

With the written consent of the parties, an Alaska neutral licensee working to close a deal may:

• a.Suggest compromises in the parties' bargaining positions✓
• b.Disclose each party's lowest acceptable price
• c.Represent whichever party the licensee believes has the weaker position
• d.Withhold a written offer to give one party more time

The statute lists conduct a neutral licensee may engage in with written consent in a good faith effort to reach agreement: analyzing and reporting on the merits of the transaction to each party, discussing what price or terms each party would or should offer or accept, and suggesting compromises in the parties' respective bargaining positions. Cite: AS 08.88.645(b).

One Alaska broker names one affiliated licensee to work with the seller and another to work with the buyer in the same sale. Under the designated licensee statute this arrangement:

• a.Creates dual agency for the broker and the firm
• b.Does not create dual agency✓
• c.Requires the commission's prior written approval
• d.Makes both licensees neutral licensees

A real estate broker may have a different designated licensee working for the seller or lessor and for the buyer or lessee in the same transaction, and doing so does not create dual agency or a conflict of interest for the broker or for another licensee employed by the broker. The broker's supervisory responsibility and vicarious liability remain. Cite: AS 08.88.640(b) and (e).

An Alaska seller wants to sign a document waiving the licensee's statutory duties to save on the fee. The statute allows waiver of:

• a.All of the duties, if the waiver is notarized and signed
• b.Only the duty to present written offers in a timely manner
• c.Only the duty to keep looking for a buyer or lessee✓
• d.No duty at all, under any circumstance the statute allows

Neither a licensee nor a person receiving specific assistance may waive the duties in AS 08.88.615 and AS 08.88.620, except as allowed by AS 08.88.620(5) and (6), the good faith and continuous effort duties owed to a seller or lessor and to a buyer or lessee, which may be varied by written agreement. Cite: AS 08.88.625.

Unless the parties agree otherwise, an Alaska licensee owes no duty to:

• a.Independently verify a statement made by a party the licensee reasonably believes reliable✓
• b.Present written offers in a timely manner
• c.Account for money received on the person's behalf
• d.Disclose known material defects that substantially adversely affect the property

Unless agreed otherwise, a licensee need not conduct an independent inspection of the real estate, investigate a person's financial condition, or independently verify the accuracy or completeness of a statement made by a party or by someone the licensee reasonably believes reliable. The other three duties are imposed by AS 08.88.615. Cite: AS 08.88.630.

An Alaska buyer terminates the licensee relationship by notice. After termination the licensee still owes the buyer:

• a.Every duty listed in AS 08.88.615, indefinitely
• b.No duty of any kind
• c.The duty to continue looking for suitable property
• d.The duty to account for money and property, and the duty of confidentiality✓

Except as otherwise agreed in writing, no further duty is owed after the relationship ends, other than accounting for all money and other property received during the relationship and not disclosing confidential information. Cite: AS 08.88.660(c).