Free Alaska Real Estate Practice Test (2026) — LicenseIQ

Question 1

Refusing to rent to a family with children generally violates which protected class?

Accepted Answer

Familial status (households with children under 18, pregnant women) is protected under the federal Fair Housing Act. Marital status is protected under NJ LAD but not federal law.

Question 2

A quitclaim deed is most often used to:

Accepted Answer

Quitclaim deeds convey whatever interest the grantor may have, without warranties, making them useful for removing clouds or releasing claims.

Question 3

A licensee who identifies a conflict of interest must:

Accepted Answer

AS 08.88.391(a) requires prompt disclosure to those adversely affected, written confirmation, and verbal advice.

Question 4

A tenant who vacates because the landlord failed to keep the premises habitable may claim:

Accepted Answer

Constructive eviction is the tenant's remedy when the landlord's failures make the premises unlivable; actual eviction is the landlord's court-ordered removal of a tenant.

Question 5

A property manager keeps tenants' security deposits in the owner's personal checking account. Under Commission regulations, this is treated as:

Accepted Answer

12 AAC 64.560 states that failing to hold prepaid rent or security deposits in a trust account as AS 34.03 requires is fraudulent or dishonest conduct under AS 08.88.071(a)(3)(A)(iv). Owner consent does not cure it.

Question 6

Which item is a required minimum term in an Alaska property management contract under 12 AAC 64.550?

Accepted Answer

12 AAC 64.550(b) requires the manager's responsibilities, the owner's grant of authority, the period of the agreement, and the management fee.

Question 7

Which lien is a specific lien rather than a general lien?

Accepted Answer

Specific liens attach to one property (mortgage, mechanic's, property tax). General liens attach to all of a debtor's property (judgments, IRS liens).

Question 8

Which deed provides the GREATEST protection to the grantee?

Accepted Answer

A general warranty deed contains the fullest covenants, warranting title against all defects, including those arising before the grantor owned it.

Question 9

A borrower facing default voluntarily conveys the property to the lender in exchange for release of the debt. This is a:

Accepted Answer

In a deed in lieu, the borrower voluntarily deeds the property to the lender, which avoids the foreclosure process; the lender must agree, and the borrower should get a written release of any remaining debt. In a short sale, the property is sold to a third party for less than owed with lender approval. Credit-reporting effects vary by lender and situation, so licensees should not promise a borrower any particular credit outcome.

Question 10

Private restrictions placed in a deed by a developer are called:

Accepted Answer

Deed restrictions (covenants, conditions and restrictions) are private controls enforced by owners or associations, not government. Zoning and building codes are public controls.

Question 11

A buyer purchases a $300,000 home with a $60,000 down payment. What is the loan-to-value (LTV) ratio?

Accepted Answer

Loan = $300,000 - $60,000 = $240,000; $240,000 / $300,000 = 80% LTV. (20% is the down payment percentage.)

Question 12

Under the government (rectangular) survey system, a standard township is:

Accepted Answer

Townships are 6 x 6 miles (36 square miles) divided into 36 one-square-mile sections of 640 acres, numbered from section 1 in the northeast corner.

Question 13

The four elements that must all be present for real property to have value are summarized by the acronym DUST, which stands for:

Accepted Answer

Value requires Demand, Utility, Scarcity and Transferability.

Question 14

For material noncompliance with the rental agreement that the tenant can remedy, the landlord's notice to quit must specify a termination date at least:

Accepted Answer

AS 34.03.220(a)(2) requires at least 10 days, and the tenancy does not end if the tenant cures before then.

Question 15

A modest home located among larger, more expensive homes tends to increase in value due to the principle of:

Accepted Answer

Progression: a lower-value property benefits from surrounding higher-value properties. Regression is the opposite effect on the most expensive home.

Question 16

Errors and omissions insurance in Alaska is:

Accepted Answer

AS 08.88.172 and 12 AAC 64.600 require all three license types to carry E&O as a condition of licensing, renewal, or reinstatement.

Question 17

A broker earned a $15,750 commission on a $450,000 sale. What was the commission rate?

Accepted Answer

Rate = commission / sale price = $15,750 / $450,000 = 0.035 = 3.5%.

Question 18

A licensee knows that a suicide occurred in a home 8 months before she first showed it to a buyer. Under Alaska law she must:

Accepted Answer

AS 08.88.615(c) requires disclosure of a known murder or suicide that occurred within one year before the licensee first showed the property to that buyer. Eight months is within the window.

Question 19

A trust account ledger is required for a transaction even when:

Accepted Answer

12 AAC 64.220(d) requires a ledger for each transaction, including those where the deposit is held by a cooperating broker, title company, or other third party.

Question 20

An agent tells a buyer he will show homes only if the buyer uses the agent's brother as mortgage broker. This is an illegal:

Accepted Answer

Conditioning one service on the purchase of another is a tying arrangement prohibited by antitrust law.

Question 21

The minimum down payment typically required on an FHA-insured loan is as low as:

Accepted Answer

FHA allows down payments as low as 3.5%. Zero down is associated with VA and USDA loans.

Question 22

A salesperson who receives earnest money must:

Accepted Answer

AS 08.88.331 requires immediate turnover to the broker. The five-day deposit rule applies to the broker's deposit into trust.

Question 23

A salesperson earns $6,000 on a $150,000 sale. What was the commission rate?

Accepted Answer

Rate = commission / sale price = $6,000 / $150,000 = 0.04 = 4%.

Question 24

Under AS 34.03.070, for a unit renting at $2,000 or less per month, the maximum combined security deposit and prepaid rent is:

Accepted Answer

AS 34.03.070(a) caps deposits and prepaid rent at two months' periodic rent, except when rent exceeds $2,000 per month.

Question 25

A buyer's representative has no duty to show a property for which:

Accepted Answer

AS 08.88.620(6) excuses the buyer's licensee from showing property where there is no written compensation agreement.

Alaska real estate practice test

1. Refusing to rent to a family with children generally violates which protected class?

2. A quitclaim deed is most often used to:

3. A licensee who identifies a conflict of interest must:

4. A tenant who vacates because the landlord failed to keep the premises habitable may claim:

5. A property manager keeps tenants' security deposits in the owner's personal checking account. Under Commission regulations, this is treated as:

6. Which item is a required minimum term in an Alaska property management contract under 12 AAC 64.550?

7. Which lien is a specific lien rather than a general lien?

8. Which deed provides the GREATEST protection to the grantee?

9. A borrower facing default voluntarily conveys the property to the lender in exchange for release of the debt. This is a:

10. Private restrictions placed in a deed by a developer are called:

11. A buyer purchases a $300,000 home with a $60,000 down payment. What is the loan-to-value (LTV) ratio?

12. Under the government (rectangular) survey system, a standard township is:

13. The four elements that must all be present for real property to have value are summarized by the acronym DUST, which stands for:

14. For material noncompliance with the rental agreement that the tenant can remedy, the landlord's notice to quit must specify a termination date at least:

15. A modest home located among larger, more expensive homes tends to increase in value due to the principle of:

16. Errors and omissions insurance in Alaska is:

17. A broker earned a $15,750 commission on a $450,000 sale. What was the commission rate?

18. A licensee knows that a suicide occurred in a home 8 months before she first showed it to a buyer. Under Alaska law she must:

19. A trust account ledger is required for a transaction even when:

20. An agent tells a buyer he will show homes only if the buyer uses the agent's brother as mortgage broker. This is an illegal:

21. The minimum down payment typically required on an FHA-insured loan is as low as:

22. A salesperson who receives earnest money must:

23. A salesperson earns $6,000 on a $150,000 sale. What was the commission rate?

24. Under AS 34.03.070, for a unit renting at $2,000 or less per month, the maximum combined security deposit and prepaid rent is:

25. A buyer's representative has no duty to show a property for which:

Sources