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Instructions for the
Alaska Real Estate Pre Licensing Course
Step 1: Complete the Precourse Materials in the Dropbox
folder link that was emailed to you.
Please copy and paste the materials in your computer.
DO NOT MOVE THE ITEMS OUT
OF THE DROPBOX FOLDER
Step 2: Finish the quizzes and send them in for grading
(70% correct required)
Step 3: Attend the classroom portion of the course
Step 4: Take and pass the real estate test through Pearson
VUE testing center
Step 5: Interview and get hired by the broker of your
choice
Step 6: Start an exciting new career in real estate
Student Survey
NAME: ______________________________________________________________
ADDRESS: ___________________________________________________________
CITY / STATE / ZIP: ___________________________________________________
HOME PHONE: ______________________ WORK PHONE: __________________
Email: _______________________________________________________________
How did you hear about this course? Referral by a Friend: ______________________
Internet ___ Red Careers ___ Alaska Real Estate Commission ___ Other _________
What is your current job? ________________________________________________
What is your reason for attending this class? __________________________________
______________________________________________________________________
What are your short terms goals? ___________________________________________
What are your long terms goals? ___________________________________________
Are you planning a career in real estate? ___________ (Full Time? / Part Time?)
When do you intend to begin your real estate career? ___________________________
Do you intend to work with Keller Williams Realty Alaska Group if possible ______
If no, which company do you intend to work for? ______________________________
Other comments ________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
Course Evaluation
Table of Contents Precourse Materials on CD
Precourse Tests
I. Introduction
II. Real Property and the Law
III. Property Ownership
IV. Conveyances and Recording
V. Real Estate Brokerage and Agency
VI. Real Estate Contracts
VII. Financing
VIII. Fair Housing
IX. Alaska Real Estate Licensing Law
X. Real Estate Mathematics
Practice Exams
Introduction
Welcome to the AlaskaRealEstateSchool.com, LLC Pre Licensing Course. You will participate in 40 hours of
instruction, 20 hours as correspondence and 20 hours classroom, to prepare you to take the Alaska State real estate
examination. We will cover at a minimum:
Real Estate Brokerage and Agency 4 hours
Real Property and the Law 4 hours
Real Estate Ownership 4 hours
Conveyances and Recording 4 hours
Contracts 8 hours
Financing Instruments 6 hours
Fair Housing 4 hours
Alaska Real Estate Licensing Law 6 hours
Real estate mathematics and discussion about local practices.
ATTENDANCE POLICY
Each hour of classroom instruction will consist of 50 minutes of classroom time. Students are required to sign in at the
beginning of each class period and sign out upon completion to receive credit for the class. If a student misses up to 15 minutes
of class time, that time may be made up by completion of the class in the next scheduled course time or by completing the
correspondence equivalent class. If the class time is not made up, no credit for that subject can be given. If more than 15
minutes of class time is missed, no credit for that class can be given and the student may make up the class at the next regularly
scheduled class time.
The following page will give class dates, times and locations.
If you have an emergency and cannot attend a class session, please call 907-337-9663 and inform the instructor prior to class
time during normal office hours, (8:00 AM - 7:00 PM)
Instructor: Denny Wood, CRS, GRI 337-WOOD (9663) This class is approved by the Alaska Real Estate Commission as
Real Estate Pre-licensing Class #869.
The testing schedule is as follows.
The tests are given throughout Alaska weekly. To register for the test, call Pearson VUE Candidate Care Center at 1-
800-274-5992, Monday through Friday from 4:00 a.m. to 7:00 p.m. Alaska time or 4:00 a.m. to 11:00 a.m. on Saturday or 6:00
a.m. to 1:00 p.m. on Sunday. You must make an appointment 3 days or more prior to the Saturday testing date. Walk-in
testing is not available. The testing fee of $100.00 in the form of a credit card, electronic check, certified check, money order
or cashier’s check must be paid upon registration for the test. For more information see the pamphlet printed by the State of
Alaska “Real Estate Candidate Handbook.”
A person who fails the written examination may apply (with the same procedures) to re-take the exam. When calling to
re-apply, have your failing report card available.
BIBLIOGRAPHY
Modern Real Estate Practice Fillmore W. Gallaty, Wellington J. Allaway, Robert C. Kyle
Questions and Answers to Help Pass the Real Estate Exam John W. Reilly and Paige Bovee Vitousck
Real Estate Exams Manual Douglas C. Smith and John T. Gibbons
Real Estate Candidate Handbook State of Alaska
Fair Housing: Rental National Association of REALTORS®
Wikipedia, the free encyclopedia
Chapter 1
Course Introduction
Prerequisite Course Information
Instructions
Please read and become familiar with this information prior to the class date.
This part of the class will be taken correspondence. You will be required to take a test on the
information in the chapters. The remainder of the class must be taken in the classroom. The
pre-course materials are to be read and are in Power Point format with narrations converted to
.pdf format.
The correspondence portion is not a prerequisite for the in class portion but it is better for you
if you take it ahead of the class room, for it is background material for what will be covered in
class. However, you must complete the correspondence portion and the classroom portion
before being given a certificate of completion for the course. The test for the correspondence portion of the course must be taken by you personally. You
may take the tests all at once or one chapter at a time, although it is preferred that you send all
the quizzes in for grading at the same time. The test may be taken open book and the answer
sheet may be brought in to the classroom during class, emailed to
[email protected], faxed to 866-659-8458 or mailed to:
Denny Wood
AlaskaRealEstateSchool.com, LLC
PO Box 241727
Anchorage, Alaska 99524-1727
Real Estate Pre-licensing Course
AK Course #869
Pearson VUE Course #2253
Your Instructor:
Denny Wood, ABR, CRS, GRI
General Information
This course requires 40 hours of instruction:
20 hours correspondence before the classroom portion with proctored tests for each
section that must be completed before class time.
20 hours in class study or this portion may also be taken by correspondence.
All correspondence section will have a test that must be taken proctored and must
be completed before class time.
50 minutes contact time in the classroom = 1 hour
No more than 15 minutes of each hour in class may be missed for credit
Course Content Mathematics Fair Housing
Property Ownership Brokerage and Agency
Title Transfer Real Property and the Law
Conveyances and Recording Contracts
Financing Alaska Real Estate Law
Local Real Estate Practices
Pearson VUE is contracted to administer the state test.
There are two parts to the test.
80 questions Uniform Portion covering general real estate knowledge.
50 Questions covering Alaska Real Estate Law.
Pass = 75% on each test (You must pass both sections)
To reserve a testing time call (800) 274-5992 or register online at
www.PearsonVUE.com
Be sure to give the testing center the AlaksaRealEstateSchool.com, LLC course number (2253)
when registering.
You must make an appointment 3 days or more prior to the testing date.
Walk-in testing is not available. The testing fee is $100.00 payable at the time of registration. For more information see the “Real Estate Candidate Handbook.” starting on page 6.
Alaska Real Estate Policies Admission Policy
Please VERIFY that your name and personal information are CORRECT. Contact Pearson VUE immediately to correct the
spelling of your name or visit your account on line at http://www.pearsonvue.com to update your personal information if you
notice any errors. It is very important that this information is correct, as it will appear as it was entered on the documentation
provided to you after you have completed the exam, as well as on any reports to your licensing agency.
We ask that you arrive at the test center 30 minutes before your scheduled appointment time. This will give you adequate time
to complete the necessary sign-in procedures. If you arrive more than 15 minutes late for an exam and are refused admission,
exam fees will be forfeited.
ITEMS YOU WILL NEED TO BRING: Please bring TWO (2) FORMS OF CURRENT SIGNATURE BEARING IDENTIFICATION, one of which must have a
government issued photograph such as a driver’s license or state ID.
You will not be allowed to take any personal items with you into the testing room. This includes all bags, books not authorized
by the testing program, notes, cell phones, pagers, watches and wallets.
Reschedule Policy
If you wish to reschedule your exam, you must contact Pearson VUE 48 hours prior to your exam appointment. Rescheduling
an exam less than 48 hours prior to your exam is subject to forfeiture of your exam fee. No shows are also subject to forfeiture
of the exam fee.
Cancellation Policy
If you wish to cancel your exam, you must contact Pearson VUE 48 hours prior to your exam appointment. Canceling an exam
less than 48 hours prior to your exam is subject to forfeiture of your exam fee. No shows are also subject to forfeiture of the
exam fee.
The tests are given at Pearson VUE Testing Centers:
Pearson Professional Centers-Anchorage AK 2550 Denali Street Suite 511 Denali Towers
North Building Anchorage, Alaska 99503 United States
Pearson Professional Centers-Anchorage AK
2550 Denali Street
Suite 511
Denali Towers North Building
Anchorage, Alaska 99503
Matanuska-Susitna College Matanuska-Susitna College 8295 E. College Dr. PO Box 2889
Palmer, Alaska 99645 United States
Matanuska-Susitna College
Matanuska-Susitna College
8295 E. College Dr.
PO Box 2889
Palmer, Alaska 99645
Alaska Vocational Technical Center 809 Second Ave PO Box 889 Seward, Alaska 99664
United States
Alaska Vocational Technical Center
809 Second Ave
PO Box 889
Seward, Alaska 99664
Kodiak College 117 Benny Benson Dr Room 210, Campus Center Kodiak, Alaska 99615
United States
Kodiak College
117 Benny Benson Dr
Room 210, Campus Center
Kodiak, Alaska 99615
Univ of AK Fairbanks Community Technical College 604 Barnette Street Room P. O. Box
758040 Fairbanks, AK. 99775 Fairbanks, Alaska 99701 United States
Univ of AK Fairbanks Community Technical College
604 Barnette Street Room
P. O. Box 758040 Fairbanks, AK. 99775
Fairbanks, Alaska 99701
University of Alaska Fairbanks-Bristol Bay Campus PO Box 1070 Dillingham, Alaska
99576 United States
University of Alaska Fairbanks-Bristol Bay Campus
PO Box 1070
Dillingham, Alaska 99576
Yuut Elitnaurviat - The People's Learning Center 610 Akiachak Dr. Bethel, Alaska 99559-
0869 United States
Yuut Elitnaurviat - The People's Learning Center
610 Akiachak Dr.
Bethel, Alaska 99559-0869
University of Alaska Fairbanks-Northwest Campus 400 E. Front St. Nome, Alaska 99762
United States
University of Alaska Fairbanks-Northwest Campus
400 E. Front St.
Nome, Alaska 99762
DataBank Computer Services - Mobile1 9200 Glacier Highway Travelodge Hotel Juneau
Egan Drive & Glacier Highway Juneau, Alaska 99801 United States
DataBank Computer Services - Mobile1
9200 Glacier Highway
Travelodge Hotel Juneau
Egan Drive & Glacier Highway
Juneau, Alaska 99801
University of Alaska Southeast 1332 Seward Ave Sitka, Alaska 99835 United States
University of Alaska Southeast
1332 Seward Ave
Sitka, Alaska 99835
Inclement Weather?
For information regarding Test Center closings, please call 800-274-2615.
What materials do I need to take to the test center on the day of my test?
Typically you are asked to bring two forms of identification, including one government-issued photo identification.
Some testing programs may have additional requirements.
The items you are asked to bring differs for each test program. You will receive a confirmation email with program-
specific information.
How early should I arrive at the test center on the day of my test?
Typically you are asked to arrive at the test center 15-30 minutes prior to your scheduled appointment time. This
extra time will give you an opportunity to check-in and to relax prior to beginning your test.
The amount of time you are asked to arrive at the test center before your scheduled appointment time differs for
each program. You will receive a confirmation email with program-specific information.
Because of a special need, I require extra time to complete my test. Will Pearson VUE be able to accomodate a
time extension?
Yes, Pearson VUE and your test program may allow time extensions and other accommodations to those who are
identified as having special needs. If you need additional time to complete your test, we ask that you please speak
with a Pearson VUE agent at the time of registration. At that point, a decision will be made whether your
appointment time can be extended for your specific situation, based on the test program’s policies.
CLICK HERE FOR CONTENT
OUTLINES.
PEARSON VUE
Quick Reference
inside front cover
Table of Contents
page i
Exam Reservations
page 3
Exam Day:
What to Bring
page 6
Alaska REAL ESTATE Candidate Handbook April 2015
Test Center Locations
back cover
QUICK REFERENCE
RESERVATIONS
Before making an exam reservation Candidates should thoroughly review this handbook, which contains examination content outlines and important information regarding eligibility and the examination and licensing application process.
Candidates that qualify for an exemption from taking the GENERAL part of the Alaska Real Estate exam must complete the Client Waiver Request that can be found at www.pearsonvue.com on the Alaska Real Estate landing page.
Making an exam reservation Candidates may make an exam reservation with Pearson VUE by:
• Visiting the Pearson VUE website at www.pearsonvue.com
• Calling Pearson VUE at (800) 274-5992
Candidates should make a reservation online or by phone at least twenty-four (24) hours before the desired examination date (unless an electronic check is used for payment, as detailed on page 3). Walk-in examinations are not available.
SCHEDULES & FEES
Test centers A list of test centers appears on the back cover of this handbook. Candidates should contact Pearson VUE to confirm specific locations and schedules.
Exam fee The examination fee ($100) must be paid at the time of reservation by credit card, debit card, voucher, or electronic check. Payment will not be accepted at the test
center. Examination fees are non-refundable and non-transferable except as
detailed in Change/Cancel Policy.
EXAM DAY
What to bring to the exam Candidates should bring to the examination proper identification and other materials as dictated by the state licensing agency. A complete list appears in What to Bring (page 6).
Exam procedures
Candidates should report to the test center at least thirty (30) minutes before the examination begins. Each candidate will have four (4) hours to complete the examination, and will leave the test center with an official score report in hand.
STATE L I C E N S I N G INFORMATION
Candidates may contact
the Alaska Division of Corporations, Business, and Professional Licensing with
questions about obtaining or maintaining a license after the examination has been passed.
Alaska Division of Corporations, Business,
and Professional Licensing
Real Estate Commission 550 W. 7th Avenue
Suite 1500 Anchorage, AK 99501-3567
(907) 269-8162
Website www.commerce.alaska.
gov/occ/prec.htm
EXAMINATION INFORMATION
Candidates may contact
Pearson VUE with questions about this handbook or about
an upcoming examination.
Pearson VUE Alaska Real Estate
5601 Green Valley Drive Bloomington, MN 55437
(800) 274-5992
pearsonvuecustomerservice@ pearson.com
Website www.pearsonvue.com
CLICK HERE FOR CONTENT OUTLINES.
QUICK REFERENCE............ inside front cover
OVERVIEW ........................................................ii
INTRODUCTION ................................................1
Contact Information .................................. 1
The Licensure Process ................................1
Practice Tests ............................................... 1
New Client Waiver Process ..........................1
REAL ESTATE LICENSING
REQUIREMENTS .............................................2
Licensing Requirements ...............................2
EXAM RESERVATIONS ....................................3
Online Reservations .....................................3
Phone Reservations .....................................3
Exam Fees ...................................................3
Electronic Checks ................................... 3
Vouchers ...................................................... 4
Change/Cancel Policy .............................. 4
Absence/Lateness Policy ......................... 5
Weather Delays and Cancellations..............5
Accommodations ..................................... 5
EXAM DAY .............................................................. 6
What to Bring ........................................... 6
Exam Procedures ........................................ 6
Score Reporting ....................................... 7
Retaking the Exam ...................................... 7
Review of Exams ........................................ 7
Score Explanation ....................................... 7
Duplicate Score Reports .......................... 8
Test Center Policies .................................... 8
PREPARING FOR THE EXAM ....................... 10
Exam Content ........................................... 10
Math Calculations .................................. 10
APPENDIX
Duplicate Score
Request Form.............. back of handbook
GENERAL INFORMATION............. back cover
Test Centers .............................. back cover
Holiday Schedule ...................... back cover
State of Alaska Real Estate page i
CONTENT OUTLINES
CLICK HERE FOR CONTENT OUTLINES.
OVERVIEW
The candidate handbook is a useful tool in preparing for an examination.
It is highly recommended that the Alaska Real Estate Candidate Handbook be reviewed, with special attention given to the content outlines, before taking the examination.
Individuals who wish to obtain a real estate license in the state of Alaska must:
1. Complete prelicensing education.
Before taking an examination, candidates must complete all prelicensing education. (See page 2 for additional details.)
2. Make a reservation and pay the examination fee.
Make a reservation (by phone or online) with Pearson VUE for the examination. (See page 3.)
3. Go to the test center.
Go to the test center on the day of the examination, bringing along all required materials. (See page 6.)
4. Apply for a license.
Within six (6) months of passing the examination, candidates must submit the proper application forms and fees, as set forth on the score report issued at the test center, to the Alaska Real Estate Commission.
Copyright © 2015 Pearson Education, Inc. or its affiliate(s). All Rights Reserved. [email protected]
page ii State of Alaska Real Estate
INTRODUCTION
CONTACT INFORMATION Candidates may contact Pearson VUE with questions about this handbook or about an upcoming examination. Live Chat is available to address your support inquiries and is the quickest way to reach a customer service agent. It’s available Monday–Friday, 7:00 a.m.–10:00 p.m. CT, Saturday, 7:00 a.m.–4:00 p.m. CT, and Sunday, 9:00 a.m.–3:00 p.m. CT; closed on local holidays.
Please visit http://www.pearsonvue.com/ak/realestate/contact/ for further information.
Candidates my contact the Alaska Division of Corporations, Business, and Professional Licensing with questions about obtaining or maintaining a license.
PEARSON VUE/ALASKA REAL ESTATE
5601 Green Valley Dr. Bloomington, MN 55437 Phone: (800) 274-5992
Website: www.pearsonvue.com Email: [email protected]
ALASKA DIVISION OF CORPORATIONS, BUSINESS, AND PROFESSIONAL LICENSING
Real Estate Commission 550 W. 7th Avenue, Suite 1500
Anchorage, AK 99501-3567 Phone: (907) 269-8162
Website: www.commerce.alaska.gov/occ/prec.htm
THE LICENSURE PROCESS Licensure is the process by which an agency of state government or other jurisdiction grants permission to individuals to engage in the practice of, and prohibits all others from legally practicing, a particular profession, vocation, or occupation. By ensuring a minimum level of competence, the licensure process protects the general public. The state regulatory agency is responsible for establishing the acceptable level of safe practice and for determining whether an individual meets that standard.
The State of Alaska has retained the services of Pearson VUE to develop and admin- ister its real estate examination program. Pearson VUE is a leading provider of assess- ment services to regulatory agencies and national associations.
PRACTICE TESTS – GENERAL (NATIONAL) PORTION ONLY General-portion practice tests are offered exclusively online at www.pearsonvue.com, giving candidates even more opportunity to succeed on real estate examinations. The general-portion practice tests will not only help prepare candidates for the types of questions they will see on the general portion of the licensure examination but also familiarize them with taking computer-based examinations.
Pearson VUE offers a practice test for real estate that contains questions developed by subject matter experts using concepts found in the general portion of the licensure examination. The test closely reflects the format of the general portion of the licensure examination, can be scored instantly, and provides immediate feedback to help can- didates identify correct and incorrect answers. Candidates can purchase general-por- tion practice tests anytime by visiting www.pearsonvue.com/practicetests/realestate.
State of Alaska Real Estate page 1
NEW CLIENT WAIVER PROCESS EFFECTIVE
JUNE 1,2011
Client Waivers will no
longer be accepted at
Pearson VUE testing centers.
The process to sit for an exam with a waived test
has changed. Non-Resident Licensees who are required to only take the STATE PORTION
of the license exam, will need to follow this process. You
must complete the required form before scheduling your
exam and receive notification
that your Client Waiver has been applied successfully. Failure to do so will require
that you take both the GENERAL and STATE portions of the exam. The Test Center Administrator will not be able
to apply a Client Waiver for you at the test center.
The new Client Waiver process
1. Complete the Client Waiver Request
2. Email, fax or mail the
completed Client Waiver Request Form and
any program required supporting documents to Pearson VUE.
3. Pearson VUE will review and validate your Client Waiver request against the state’s policies.
4. If all of the requirements are met, Pearson VUE will send you an email confirmation that the Client Waiver has been applied.
5. After you receive the email confirmation, you are ready to schedule your appointment by visiting www.pearsonvue.com or by calling Pearson VUE.
6. If the Client Waiver is denied, Pearson VUE will send you an email confirmation that will contain information as to your next steps
REAL ESTATE LICENSING REQUIREMENTS
The Alaska Real Estate Commission has established the requirements that qualify applicants for a real estate sales or broker license. Applicants should read this candidate handbook and any other information provided by the Commission before applying for any license examination.
LICENSING REQUIREMENTS A. Salesperson applicants must:
1. Be at least nineteen (19) years old.
2. Apply for licensure within eighteen (18) months of the date of completing the required salesperson education.
3. Apply for licensure within six (6) months of passing the examination. 4. By affiliation, work with a licensed Alaska real estate broker.
5. Pay the appropriate licensing fees. B. Broker applicants must:
1. Be at least twenty-one (21) years old.
2. Apply for licensure within eighteen (18) months of the date of completing the required broker training.
3. Apply for a license within six (6) months of passing the examination.
4. Have been an active real estate licensee, with real estate as a principal occupa- tion, for at least twenty-four (24) consecutive months within the past thirty- six (36) months immediately preceding application for the broker’s license.
C. Licensing by endorsement
Applicants who have an active real estate license in another state and have worked in the real estate profession within the past six (6) months may be eligible for an Alaska real estate license by endorsement.
To apply for a license by endorsement, applicants must:
1. Have a detailed license history sent directly to the Alaska Real Estate Commission by their current licensing authority and by all juris- dictions in which they have ever held a real estate license.
2. Provide either evidence of completion of the prelicensing course taken to obtain their current license and evidence of completion of the 6-hour Alaska prelicensing course segment on Alaska real estate law, OR provide evidence of completion of the entire 40-hour Alaska prelicensing course.
3. Pass the state law portion of the Alaska real estate licensing examination. NOTE: Licensees requesting to take the STATE only part of
the AK RE exam must complete the CLIENT WAIVER request
prior to scheduling the exam. This can be found by visiting the
Alaska Real Estate site located at www.pearsonvue.com
To become an Alaska broker by endorsement, applicants must be an active broker in
the state where they are currently licensed and have 24 months of active and continuous licensee experience within the past 36 months before they receive their broker license. Applicants must also meet the requirements of No. 1 and No. 3 listed above and:
1. Complete the 15-hour Alaska broker training course, or show evidence of completion of a substantially equiva- lent course in the state where they are currently licensed.
2. Open a trust account in an Alaska bank (not required for AB License). 3. Open an office in Alaska (not required for AB License).
Applicants who are not yet licensed brokers, but who wish to become brokers in Alaska, may have the time worked as a real estate licensee in another state applied toward the twenty-four (24) months of active and continuous licensee experience required to become an Alaska broker. Applicants must also meet all other broker requirements listed in the license law (AS 08.88).
page 2 State of Alaska Real Estate
EXAM RESERVATIONS
Walk-in examinations are not available. Candidates must make a reservation online or by phone.
ONLINE RESERVATIONS Candidates must go to www.pearsonvue.com/ak/realestate to make an online reser- vation for an examination. First-time users are required to create an account. The candidate will need to fill in all required fields, which are preceded by an asterisk, on the online form in order to create an ID and be assigned a password. Step-by-step instructions will follow on how to make a reservation for an examination.
Candidates who wish to make an online reservation should do so at least twenty-four
(24) hours before the desired examination date.
PHONE RESERVATIONS Candidates may call (800) 274-5992 to make a reservation.
PEARSON VUE HOURS
Monday – Friday 4 a.m. – 7 p.m.
Saturday 4 a.m. – 1 p.m.
Sunday 6 a.m. – 12 p.m.
Alaska Time
Before calling, candidates should have the following:
• Legal name, address, Social Security number, daytime telephone number, and date of birth
• The name of the examination(s)
• The preferred examination date and test center location (a list appears on the back cover of this handbook)
Candidates are responsible for knowing which examination they need to take. A Pearson VUE representative will help candidates select a convenient examination date and location and will answer questions. The reservation will be made based on the next available examination date.
Candidates who wish to make a phone reservation MUST do so at least twenty-four
(24) hours before the desired examination date (unless an electronic check is used for payment, as detailed below).
EXAM FEES The examination fee ($100) must be paid at the time of reservation by credit card, debit card, voucher, or electronic check. Payment will not be accepted at the test
center, nor will any single payment be accepted to cover more than one candi-
date.
Candidates are responsible for knowing all regulations regarding fees and examina- tion scheduling as presented here. Examination fees are non-refundable and non- transferable, except as detailed in Change/Cancel Policy on page 4. Electronic Checks
Candidates who choose to pay the examination fee by electronic check must have a personal checking account, and must be prepared to provide to Pearson VUE at the time of reservation the following information:
State of Alaska Real Estate page 3
• Bank name
• Account number
• Routing number
• Social Security number, state ID number, or driver’s license number
• Name and address on the account
Using this information, Pearson VUE can request payment from the candidate’s bank account just as if the candidate had submitted an actual paper check.
Candidates paying by electronic check must register at least five (5) days before the examination date in order for their check to be processed.
Vouchers
Vouchers offer another convenient way to pay for tests. Vouchers can be purchased online at www.pearsonvue.com/vouchers/pricelist by credit card either singly or in volume. To redeem a voucher as payment when scheduling a test, simply indicate voucher as the payment method and provide the voucher number. All vouchers are
pre-paid. Vouchers are non-refundable and non-returnable.
Vouchers expire twelve (12) months from the date they are issued. Voucher expi- ration dates cannot be extended. The exam must be taken by the expiration date printed on the voucher.
Examination results may not be available at petition test sites; if they are not, results will be mailed approximately one (1) week after the examination. Candidates who require scores immediately should attend one of the normally scheduled examination sessions where on-site scoring is available.
CHANGE/CANCEL POLICY Candidates should call Pearson VUE (800) 274-5992 at least forty-eight (48) hours before the examination to change or cancel a reservation. Candidates who change or cancel a reservation with proper notice may either transfer their fee to a new reservation or request a refund. Candidates who change or cancel their reserva-
tions without proper notice will forfeit the examination fee. Refunds for credit/ debit cards are immediate, while refunds for electronic checks and vouchers will be processed in two to three (2-3) weeks.
Candidates are individually liable for the full amount of the examination fee once a reservation has been made, whether paid individually or by a third party.
ABSENCE/LATENESS POLICY Candidates who are late to or absent from an examination may be excused for the following reasons:
• Illness of the candidate or of the candidate’s immediate family member
• Death in the immediate family
• Disabling traffic accident
• Court appearance or jury duty
• Military duty
• Weather emergency
Candidates who are late to an examination will not be admitted and will forfeit
the examination fee. Candidates who are absent from an examination and have
page 4 State of Alaska Real Estate
not changed or canceled the reservation according to the Change/Cancel Policy
will forfeit the examination fee. Written verification and supporting documenta- tion for excused absences must be submitted to Pearson VUE within fourteen (14) days of the original examination date. Written verification and supporting docu- mentation can be sent by fax to (888) 204-6291 or mailed to the following address:
Pearson VUE/Alaska Real Estate
Attn: Regulatory Program Coordinator 5601 Green Valley Drive Bloomington, MN 55437
WEATHER DELAYS AND CANCELLATIONS If severe weather or a natural disaster makes the test center inaccessible or unsafe, the examination may be delayed or canceled. Pearson VUE will notify and resched- ule candidates in the case of severe weather.
ACCOMMODATIONS Pearson VUE complies with the provisions of the Americans with Disabilities Act as amended. The purpose of accommodations is to provide candidates with full access to the test. Accommodations are not a guarantee of improved performance or test completion. Pearson VUE provides reasonable and appropriate accommodations to individuals with documented disabilities who demonstrate a need for accommoda- tions.
Test accommodations may include things such as:
• A separate testing room
• Extra testing time
• A Reader or Recorder, for individuals with mobility or vision impairments and cannot read or write on their own
Test accommodations are individualized and considered on a case-by-case basis. All candidates who are requesting accommodations because of a disability must provide appropriate documentation of their condition and how it is expected to affect their ability to take the test under standard conditions. This may include:
• Supporting documentation from the professional who diagnosed the condition, including the credentials that qualify the professional to make this diagnosis
• A description of past accommodations the candidate has received
The steps to follow when requesting test accommodations vary, depending on your test program sponsor. To begin, go to http://pearsonvue.com/accommodations, and then select your test program sponsor from the alphabetized list. Candidates who have additional questions concerning test accommodations may contact the ADA Coordinator at [email protected].
State of Alaska Real Estate page 5
EXAM DAY
WHAT TO BRING
Required Materials
All candidates are required to bring identification that is deemed acceptable, as listed under Acceptable Forms of Candidate Identification, to the test center on the day of examination.
Candidates who do not present the required items will be denied admission to
the examination, will be considered absent, and will forfeit the examination fee.
Acceptable Forms of Candidate Identification
Candidates must present two (2) forms of current signature identification. The name on the identification must exactly match the name on the registration. The primary identification must be government issued and photo-bearing with a signa- ture, and the secondary identification must contain a valid signature. Identification must be in English.
Primary ID (with photograph and signature, not expired)
• Government-issued Driver’s license
• U.S. Department of State Driver’s license
• U.S. Learner’s permit (plastic card only with photo and signature)
• National/State/Country Identification Card
• Passport
• Passport card
• Military ID
• Military ID for spouses and dependents
• Alien Registration Card (Green Card, Permanent Resident Visa)
Secondary ID (with signature, not expired)
• U.S. Social Security card
• Debit (ATM) or Credit Card
• Any form of ID on the Primary ID list
If the ID presented has an embedded signature that is not visible (microchip), or is difficult or impossible to read, the candidate must present another form of identi- fication from the Primary ID or Secondary ID list that contains a visible signature.
Pearson VUE does not recognize grace periods. For example, if a candidate’s driver’s license expired yesterday and the state allows a 30-day grace period for renewing the ID, the ID is considered to be expired.
EXAM PROCEDURES Candidates should report to the test center thirty (30) minutes before the examina- tion and check in with the test center administrator. The candidate’s identification and other documentation will be reviewed and he or she will be photographed for the score report.
Candidates are required to review and sign a Candidate Rules Agreement form. If the Candidate Rules Agreement is not followed and/or cheating or tampering with the examination is suspected, the incident will be reported as such and the appropriate action will be taken. The examination fee will not be refunded, the exam may be determined invalid, and/or the state may take further action such as
page 6 State of Alaska Real Estate
REQUIRED ITEMS
Candidates who do not
present the required items will be denied admission to
the examination, will be considered absent, and will forfeit the examination fee.
prohibiting the candidate from retaking the examination and/or denying licensure.
Candidates will have an opportunity to take a tutorial on the PC on which the examination will be administered. The time spent on this tutorial will not reduce the examination time. The examination administrators will answer questions, but candidates should be aware that the administrators are not familiar with the content of the examinations or with the state’s licensing requirements. Examination admin- istrators have been instructed not to advise candidates on requirements for licensure. Candidates are responsible for determining which examination they need to
take.
Candidates may begin the examination once they are familiar with the PC. The examination begins the moment a candidate looks at the first examination question. Candidates will be given four (4) hours to complete the examination; extra time will not be permitted. The examination will end automatically after the examination time has expired, and candidates will leave the test center with their official scores in hand.
SCORE REPORTING When candidates complete the examination, they will receive a score report marked “pass” or “fail.” Candidates who pass the examination will receive a score report that includes information on how to apply for a license.
Candidates who fail the examination will receive a score report that includes a numeric score and diagnostic information relating to the general portion of the examination, as well as information about reexamination. Reservations for reexami- nation may not be made at the test center, and candidates must wait twenty-four
(24) hours before making a reservation to retake the exam.
RETAKING THE EXAM The examination is divided into two parts: general and state law. Candidates who pass one section of the examination and fail the other must retake the entire examination. To retake an examination, candidates should follow regular reservation procedures.
Reservations for reexamination may not be made at the test center, and candidates
must wait twenty-four (24) hours after failing an examination before making a
reservation to retake it.
REVIEW OF EXAMS For security reasons, examination material is not available to candidates for review.
SCORE EXPLANATION
Scaled Score
There are multiple versions of each of the licensing examinations. These versions are known as forms. Although all forms of an examination are developed based on the content outlines, the difficulty of the forms of an examination may vary slightly because different questions appear on each form. To ensure that no candidate is put at an unfair advantage or disadvantage due to the particular form of an examination that he or she is given, a statistical procedure known as equating is used to correct for differences in form difficulty.
The passing score of an examination was set by the Alaska Real Estate Commission
State of Alaska Real Estate page 7
(in conjunction with Pearson VUE) after a comprehensive study was completed for each examination. Raw scores are converted into scaled scores that can range from 0 to 100. To avoid misuse of score information, numeric scores are only reported to failing candidates. The scaled score that is reported to you is neither the number of questions you answered correctly nor the percentage of questions you answered correctly. With a passing score of 75, any score below 75 indicates how close the candidate came to passing, rather than the actual number or percentage of questions the candidates answered correctly.
DUPLICATE SCORE REPORTS Candidates may request a duplicate score report by completing and mailing the appropriate form found in the back of this handbook and enclosing the proper fee.
TEST CENTER POLICIES The following policies are observed at each test center. Candidates who violate any
of these policies will not be permitted to finish the examination and will be
dismissed from the test center, forfeiting the examination fee.
• No personal items are allowed in the testing room. Personal items include
but are not limited to the following: cellular phones, hand-held computers/ personal digital assistants (PDAs) or other electronic devices, pagers, watches, wallets, purses, firearms or other weapons, hats, bags, coats, books, and/or notes, pens, or pencils.
• Calculators are permitted only if they are silent, hand-held, nonprinting,
and without an alphabetic key pad. Financial calculators are not permitted. Calculator malfunctions are not grounds for challenging examination results or requesting additional examination time. NOTE: Calculators are NOT
provided by the test center staff.
• Candidates must store all personal items in a secure area as indicated by the administrator, or return items to their vehicle. All electronic devices must be turned off before storing them in a locker. The test center is not responsible
for lost, stolen, or misplaced personal items.
• Studying is not allowed in the test center. Visitors, children, family, and/or friends are not allowed in the test center.
• Dictionaries, books, papers (including scratch paper), and/or reference materi- als are not permitted in the examination room (unless permitted by the exam sponsor), and candidates are strongly urged not to bring such materials to the test center. When the candidate enters and is seated in the testing room, the test administrator will provide the candidate with materials to make notes or calculations and any other items specified by the exam sponsor. The can-
didate may not write on these items before the exam begins or remove
these items from the testing room.
• Eating, drinking, chewing gum, smoking, and/or making noise that creates a disturbance for other candidates is prohibited during the exam.
• Break policies are established by the exam sponsor. Most sponsors allow unscheduled breaks. To request an unscheduled break, the candidate must
raise his or her hand to get the administrator’s attention. The exam clock
will not stop while the candidate is taking a break.
• Candidates must leave the testing room for all breaks. However, candidates
page 8 State of Alaska Real Estate
are not permitted to leave the floor or building for any reason during
this time, unless specified by the administrator and the exam sponsor. If a candidate is discovered to have left the floor or building, he or she will not be permitted to proceed with the examination and may forfeit the exam fee.
• While taking a break, candidates are permitted to access personal items that are being stored during the exam only if necessary—for example, personal medication that must be taken at a specific time. However, a candidate
must receive permission from the administrator prior to accessing per-
sonal items that have been stored. Candidates are not allowed access to other items, including but not limited to cellular phones, PDAs, exam notes, and study guides, unless the exam sponsor specifically permits this.
• Any candidate discovered causing a disturbance of any kind or engaging in any kind of misconduct—giving or receiving help; using notes, books, or other aids; taking part in an act of impersonation; or removing examination materials or notes from the examination room—will be summarily dismissed from the examination and will be reported to the state licensing agency. Decisions regarding disciplinary measures are the responsibility of the state licensing agency.
State of Alaska Real Estate page 9
PREPARING FOR THE EXAM
EXAM CONTENT The content of the general section of the examination is based upon information obtained from a job analysis performed by Pearson VUE. Responses from real estate professionals were analyzed to determine the nature and scope of tasks they perform, and the knowledge and skills needed to perform them. This information is the basis upon which examination questions are written, ensuring that the examination reflects the actual practice of real estate. Questions in the general section are also reviewed and approved by nationally recognized real estate professionals.
The state law section of the examination has been developed to reflect the laws, regu- lations, and practice of real estate in Alaska, and it has been reviewed and approved by real estate professionals in Alaska.
MATH CALCULATIONS The information below is NOT available at the test center and should be memo-
rized.
Candidates may use the following information in making mathematical calculations on the general section of the real estate examinations unless otherwise stated in the text of the question:
• 43,560 square feet/acre
• 5,280 feet/mile
• Round off calculations (where applicable)
The information below, if needed, will be contained within the test itself:
If a question requires the calculation of prorated amounts, the question will specify: a) whether the calculation should be made on the basis of 360 or 365 days a year; and b) whether the day of closing belongs to the buyer or seller.
page 10 State of Alaska Real Estate
PRETEST QUESTIONS
Many of the examinations will
contain “pretest” questions. Pretest questions are
questions on which statistical information is being collected for use in constructing future
examinations. Responses to pretest questions do not affect a candidate’s score.
Pretest questions are mixed in with the scored questions
and are not identified.
The number of pretest
questions are listed in the
content outline heading of
each examination for
which they are available.
If a number is not present
then there are no pretest
questions for that
particular examination
Salesperson and
Sales
Broker
Click below for the appropriate content outline.
REAL ESTATE
General Content Outlines
ALASKA
Real Estate State Content Outlines
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DUPLICATE SCORE REQUEST FORM
DIRECTIONS: You may use this form to request that Pearson VUE send a duplicate copy of your score report to you. Please print all information on this form.
Please enclose a cashier’s check or money order made payable to “Pearson VUE.” DO NOT SEND CASH.
FEE: For scores less than one year old there is a $10.00 charge. For scores one or more years old there is a $25.00 charge.
SEND TO: Pearson VUE ALASKA REAL ESTATE DUPLICATE SCORE 62160 Collections Center Drive Chicago, IL 60693-0621 Amount Enclosed: $
I hereby authorize Pearson VUE to send to me at the address below a duplicate of my score report from the real estate examination.
Please complete the following with your current name and address.
Name:
Address:
City: State: ZIP:
If the above information was different at the time you tested, please indicate original information.
Name:
Address:
City: State: ZIP:
Exam Taken: Salesperson Broker
State in which exam was taken: Date Taken:
Date of Birth:
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GENERAL INFORMATION
CANDIDATES MAY CALL (800) 274-5992 TO MAKE AN EXAM RESERVATION.
TEST CENTERS
CITY LOCATION
Anchorage Pearson Professional Centers, Anchorage
Bethel Yuut Elitnaurviat - The People’s Learning Center
Dillingham University of Alaska Fairbanks-Bristol Bay Campus
Fairbanks University of Alaska Fairbanks - Tanana Valley Campus
Juneau Travel Lodge
Ketchikan University of Alaska Southeast
Kodiak Kodiak College
Nome University of Alaska Fairbanks-Northwest Campus
Palmer Matanuska-Susitna College
Seward Alaska Vocational Technical Center
Sitka University of Alaska Southeast
Locations and schedules are subject to change.
Candidates who cannot take the examination at one of the above-listed test centers may use a petition test center.
Petition test locations are listed below.
PEARSON VUE HOLIDAY SCHEDULE
No exams on the following holidays or holiday weekends:
New Year’s Day Memorial Day Labor Day Christmas Day
Martin Luther King, Jr. Day Independence Day Thanksgiving
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Copyright © 2014 Pearson Education, Inc. or its affiliate(s). All Rights Reserved. [email protected]
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General Exam
Content Outline for Salespersons Effective April 1, 2014
The general portion of the real estate exam is made up of eighty (80) scored items, which are distributed as noted in the following content outline. Approximately ten percent (10%) of the scored items on the general examination will involve mathematical computations.
The general examination also contains five (5) pretest items that are not counted toward the score. These items are used to gather statistics on performance and to help assess appropriateness for use on future examinations. Because pretest items look exactly like items that are scored, candidates should answer all the items on the examination.
I. Real property characteristics, definitions, ownership, restrictions, and transfer (12) A. Definitions, descriptions, and ways to
hold title 1. Elements of real and personal
property 2. Property description and area
calculations 3. Estates in real property 4. Forms of ownership, rights,
interests, and obligations B. Land use controls and restrictions
1. Government controls 2. Private controls – non-monetary 3. Private controls – mortgage (deed
of trust) and liens C. Transfer/alienation of title to real
property 1. Voluntary 2. Involuntary 3. Protections 4. Partition/severance (voluntary or
involuntary) 5. Deeds and warranties: validity,
types, and covenants 6. Title and title insurance
II. property valuation (7) A. Principles, types, and estimates of property
value 1. Valuation definition, purpose, and process 2. Characteristics 3. Valuation principles 4. Approaches to value 5. Depreciation/obsolescence 6. Appraisals and fair market value 7. Math calculations 8. Influences on property value 9. Competitive Market Analysis (CMA)
B. Investment analysis 1. Application of principles 2. Math calculations
III. contracts and relationships with
buyers and sellers (14) A. Contract elements
1. Validity
2. Void/voidable
3. Enforceable/unenforceable (Statute of Frauds)
4. Executory/executed
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B. Listing contracts 1. General purpose/definition of listing
2. Types
3. required elements
4. Establishing listing price
5. responsibilities
6. Compensation arrangement
C. Buyer Representation Agreements 1. General purpose
2. Types
3. Required elements
4. Responsibilities
5. Compensation arrangement
D. Sales contracts 1. Terminology
2. Procedures
3. Standard parts
4. Contingencies and misc. provisions
5. Contractual rights and obligations
6. Disputes and dispute resolution terms
7. Delivery and acceptance
E. Option contracts F. Agency relationships and responsibilities
1. Types of relationships – definitions
2. Relationship powers and obligations
IV. property conditions and disclosures (9)
A. Federal environmental regulations 1. Lead-based paint
2. CERCLA
3. Asbestos
4. Wetlands and flood plains
B. Environmental issues 1. Mold
2. Radon
3. Protected species
4. Other
C. Material and other property disclosures
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V Risk management (6) G. Types of insurance
1. General Liability
2. Errors and Omissions
3. Hazard and Flood
4. Other insurance
H. Record keeping 1. Contracts
2. Accounting
3. Other important documents
I. Privacy, security, and confidentiality 1. Security measures and controls
2. Systems and programs
3. Electronic communication and social media
4. Personal safety
J. Scope of expertise
VI. Federal laws governing Real estate activities (9) A. Anti-Discrimination/Fair Housing Acts
1. Protected Classes
2. Advertising
3. Enforcement/penalties
B. Americans with Disabilities Act (ADA) C. Restraint of Trade (Sherman Act, etc.) D. Lending (Regulation Z, etc.) E. Privacy (Privacy Act, etc.) F. Marketing
1. Real Estate Settlement Procedures Act (RESPA)
2. Do Not Call
G. Other regulations that apply
VII. Financing the transaction and settlement (8)
A. Financing components 1. Financing instruments
2. Financing sources (primary and secondary mortgage markets, seller financing)
3. Types of loans
4. Financing clauses, terminology, and cost of money (calculation)
5. Lending issues
B. Lender requirements and obligations 1. Private mortgage insurance (PMI)
2. FHA requirements
3. VA requirements
4. Escrow/impound account
5. Credit report
6. Assumption requirements
7. Appraisal requirements
8. Hazard and flood insurance
9. Federal financing and credit regulation
C. Settlement/Closing 1. Procedures and forms
2. Closing costs and calculations
3. Documents, title, and recording
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VIII. Leases, rents, and property management (5)
A. Types and elements of leases 1. Leasehold estates
2. Types of leases
3. Lease clauses and provisions
B. Lessor and lessee rights, responsibilities, liabilities, and recourse 1. Owned and leased inclusions
2. Reversionary rights of owners
3. Unit-related disclosures
4. Effect of sale/transfer/foreclosure
5. Evictions
6. Tenant improvements
7. Termination of a lease
8. Breach
9. Security deposit guidelines and procedures
C. Property management contracts and obligations of parties 1. Contracts and contractual
relationships
2. Manager’s obligations, duties, and liabilities
3. Owner’s obligations, duties, and liabilities
4. Management/owner math calculations
IX. brokerage operations (6) A. Trust Accounts
1. Earnest money
2. Commingling
3. Conversion of funds
B. Advertising C. Forms of business ownership
1. Corporation
2. Partnership (general and limited)
3. Limited liability company
4. Sole proprietorship
D. Independent contractors vs. employee
X. ethical and legal business practices (4) A. Misrepresentation issues B. Implied duty of good faith C. Due diligence D. Unauthorized practice of law
Chapter 1
Course Introduction AlaskaRealEstateSchool.com
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Alaska State Law Content Outline For Salesperson
Exams
Effective Date: October 1, 2011 The state law portion of the Alaska examination consists of forty (40) scored items for the salesperson examination, and sixty
(60) scored items for the broker examination. Both examinations also contain 5-10 pretest items. These pretest items are not
identified and will not affect a candidate’s score in any way.
I. Powers of the Alaska Real Estate Commission (Sales: 5% / Broker: 5%)
A. Investigations, hearings and appeals
B. Recovery fund
C. Sanctions
1. Disciplinary actions
2. Penalties
D. Examination of records
II. Licensing (Sales: 5% / Broker: 5%)
A. Activities requiring a license
B. Change in license status
C. Assistants
III. Requirements governing the activities of licensees (Sales: 76% / Broker: 40%)
A. Advertising
B. Broker/salesperson relationship
C. Compensation
D. Conflict of interest
E. Handling of documents
F. Handling of monies
G. Listings
H. Property management
I. Prohibited conduct
J. Property disclosure
K. Licensee relationships and duties
Chapter 1
Course Introduction AlaskaRealEstateSchool.com
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IV. Additional topics (Sales: 14% / Broker: 20%)
A. Common interest ownership/condominium
B. Landlord and Tenant Act
C. Residential Real Property Transfer Disclosure
V. Broker only (Sales: 0% / Broker: 30%)
A. Trust accounts
B. Supervision
C. Place of business
D. Recordkeeping
