Alaska Real Estate Broker Exam — All Questions

Alaska law requires a licensee, at the initial contact with a consumer, to provide which document explaining the available real estate relationships?

• a.A signed dual-agency contract
• b.The Alaska Real Estate Commission consumer pamphlet (Real Estate Brochure) on real estate relationships✓
• c.A copy of the licensee's E&O policy
• d.The property's most recent appraisal

Alaska requires licensees to give consumers the Commission's consumer pamphlet describing the available real estate relationships at the first regular contact. The brochure explains specific assistance without an agency relationship, single agency, and neutral licensee options so the consumer can decide how to be served before sharing confidential information.

Alaska's mandatory written notice that identifies which party (if any) a licensee represents in a specific transaction is the:

• a.Transfer disclosure statement
• b.Lead-based paint addendum
• c.Consent to represent / real estate relationships disclosure signed by the parties✓
• d.Buyer's loan estimate

Beyond the informational brochure, Alaska requires a written disclosure by which the licensee identifies the relationship in the specific transaction, and the parties acknowledge it in writing. This documents whether the licensee represents the buyer, the seller, both by consent, or is acting as a neutral licensee. It is separate from property-condition disclosures like the transfer disclosure statement.

In Alaska, a licensee who assists both parties in a transaction without representing either as an agent is generally described as a:

• a.Neutral licensee providing specific assistance without an agency relationship✓
• b.Universal agent for both parties
• c.Subagent of the lender
• d.Designated appraiser

Alaska recognizes that a licensee may provide specific assistance without creating an agency relationship, acting as a neutral licensee. That licensee facilitates the transaction and owes honesty and disclosure of material facts but not the fiduciary loyalty of a single agent. The relationship must be disclosed to the consumer through the required forms.

An Alaska broker supervising several associate brokers must ensure that agency disclosures are:

• a.Given only to buyers, never to sellers
• b.Delivered orally with no written record
• c.Provided only after an offer is accepted
• d.Delivered to consumers at the required time and properly documented in the transaction file✓

The supervising broker is responsible for the firm's compliance, including making sure affiliated licensees deliver the consumer brochure and relationship disclosure at the required time and keep the signed documentation in the file. Disclosures go to both buyers and sellers, must be in writing, and must be made early, not after acceptance.