Alaska Real Estate Salesperson Exam

Alaska Real Estate Salesperson Exam: General Exam

The first portion of the Alaska Real Estate Salesperson Exam is the General Exam section. This portion consists of 85 questions of which only 80 count toward the examinee's score. Content covered in this section of the exam includes:

• Real Property Characteristics, Legal Descriptions, and Property Use: This domain covers what makes property, the legal descriptions of property, and the uses of public and private land. This requires a knowledge of bills of sale, land surveys, and easements, among other concepts.
• Forms of Ownership, Transfer, and Recording of Title: Types of ownership and rights, deeds, titles, and how they're transferred are included in this content area. One should also be familiar with the differences between leasehold and freehold estates, and the purpose of a lien.
• Property Value and Appraisals: This content area asks about the appraisal process and what goes into a property's value. Some approaches to valuation include income, cost, and sales comparison.
• Real Estate Contracts and Agencies: The difference between contract types, what makes a contract valid, and how contracts are enacted, as well as sales contracts are covered here. Knowledge of agency types will also be tested.
• Real Estate Practice: This domain covers the practices of a real estate salesperson, including such things as brokerage agreements, equal opportunity housing, representing buyers, and various laws and regulations in place to manage risk.
• Property Disclosures and Environmental Issues: For this content area, examinees are asked about what environmental issues and property conditions must be disclosed during a listing. These can range from hazardous materials to federally protected types of land.
• Financing and Settlement: This area looks the different types of financing, requirements for lenders, and federal regulations in financing. Examinees will also want to study what goes into the settlement and closing of a transaction.
• Real Estate Math Calculations: The final content area of the General Exam covers the necessary calculations a real estate salesperson will need to be able to make. These calculations include square footage, valuations, commissions, financing, closing costs, investments, and property management.

Alaska Real Estate Salesperson Exam: Alaska State Law

This section of the Alaska Real Estate Salesperson Exam is made up of between 45 and 50 items with only 40 being scored and counting toward the test taker's score. These items assess a prospective real estate salesperson's knowledge of Alaska state law including the following concepts:

• Powers of the Alaska Real Estate Commission: Concepts covered in this content area include sanctions, records, and the process for investigations and hearings. Questions will also appear pertaining to the state's recovery fund.
• Licensing: This part of the exam deals with what activities require a license as well as how to change a license status. The examinee may also be asked about the use of assistants (whether licensed or unlicensed).
• Requirements Governing the Activities of a Licensees: This section covers what things a real estate salesperson can and cannot do, including advertising, conflicts of interest, listings, handling money, and disclosures. Property management and how to handle documents will also come up.
• Additional Topics: Other important topics like common interest ownership and the Landlord and Tenant Act will be covered in this portion of the exam. Questions may ask about transfer disclosures too.