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Alaska Real Estate Salesperson — Requirements & Free Practice

US-AK · License preparation

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Real Estate Salesperson — Temporary Occupational License (Child Support)

Nonextendable 150-day temporary form for an otherwise eligible applicant on the child-support noncompliance list.

Licensing authority: Alaska Real Estate Commission / Division of Corporations, Business and Professional Licensing

Temporary child support license based on endorsement eligibility
Alaska Real Estate Salesperson Examination — State Law Portion
Application
Submit a signed complete application, supporting documents, applicable application/license fees and recovery fund fee.
Board form activity wording
Form 08-4169, Application Instructions item 6, states: 6. PRINCIPAL OCCUPATION STATEMENT Completion of a written statement verifying you have worked as a real estate licensee as your principal occupation within the immediate six months preceding the date of application [12 AAC 64.061(c)(l)]. The statement is included as Part VI of the application form. To be eligible for endorsement, you must have within those six months: • owned a real estate business; • been employed as a broker by a corporation or partnership; or • been an actively licensed broker or associate broker under another broker [12 AAC 64.061(c)]. The salesperson-specific controlling rule is 12 AAC 64.061(c)(2), quoted in the route evidence.
Child support
Appear on the agency noncompliance list and otherwise satisfy salesperson license qualifications. AS 25.27.244(d) limits issuance to one temporary license during a regular license term, coinciding with its first 150 days; no extension is allowed.
Education
Document the education topics/hours in 12 AAC 64.063(c)(1)-(6) and (8), plus six contact hours of Alaska real estate law under 12 AAC 64.059(c)(6); endorsement education must have been completed within 24 months before application.
Employing broker
Provide employing broker information and signature; practice through the registered office of the employing Alaska broker.
Errors and omissions
Obtain and document errors and omissions insurance under AS 08.88.172.
Fitness
Not under indictment for the offenses specified in AS 08.88.171(c); following a qualifying conviction, seven years must have elapsed after completion of the sentence. Disciplinary or investigation history is referred to the Commission under 12 AAC 64.059(h).
License held
Hold a valid active equivalent real estate license issued by another state; lapsed, suspended, disciplinarily surrendered or restricted licenses do not qualify under 12 AAC 64.061(a).
License history
Licensing authorities must provide complete licensure history, including disciplinary action or investigation, from jurisdictions where the applicant holds or has held a license.
Minimum age
At least 19 years old under AS 08.88.171(c).
Post license education
AS 08.88.263(3) requires post-license education if the applicant has held the other-state license for less than one year; holders for one year or more are exempt.
Recent practice
Under 12 AAC 64.061(c)(2), submit an affidavit of employment by or affiliation with a broker as a salesperson within the six months immediately preceding application; the Commission may request activity records.
Release
A regular license for the full or remaining term requires the agency release and compliance with AS 25.27.244. The agency determination is an applicant condition.
Score window
File a complete application within six months after passing the Alaska salesperson state-law portion.
Temporary child support license based on initial examination eligibility
Application
Submit a signed complete application, supporting documents, applicable application/license fees and recovery fund fee.
Child support
Appear on the agency noncompliance list and otherwise satisfy salesperson license qualifications. AS 25.27.244(d) limits issuance to one temporary license during a regular license term, coinciding with its first 150 days; no extension is allowed.
Education
Complete 40 hours of Commission-approved salesperson prelicensing education within the 18 months immediately preceding application; the disaster exception in 12 AAC 64.063(h) permits filing up to 60 days after testing resumes.
Employing broker
Provide employing broker information and signature; practice through the registered office of the employing Alaska broker.
Errors and omissions
Obtain and document errors and omissions insurance under AS 08.88.172.
Fitness
Not under indictment for the offenses specified in AS 08.88.171(c); following a qualifying conviction, seven years must have elapsed after completion of the sentence. Disciplinary or investigation history is referred to the Commission under 12 AAC 64.059(h).
License history
Licensing authorities must provide complete licensure history, including disciplinary action or investigation, from jurisdictions where the applicant holds or has held a license.
Minimum age
At least 19 years old under AS 08.88.171(c).
Post license education
Complete 30 hours of approved post-license education within one year of initial licensure and file certification and fee within the following 30 days, unless the endorsement exemption in AS 08.88.263(3) applies.
Release
A regular license for the full or remaining term requires the agency release and compliance with AS 25.27.244. The agency determination is an applicant condition.
Same session
12 AAC 64.010(d) requires both general and state parts in the same examination session. The July 2026 candidate handbook directs candidates passing only one part to retake the entire examination.
Score window
File the completed licensure application within six calendar months of passing, calculated under 12 AAC 64.060(e).
Temporary child support license in place of otherwise eligible renewal
No examination is required for this applicant pathway.
Child support
Appear on the agency noncompliance list and otherwise satisfy salesperson license qualifications. AS 25.27.244(d) limits issuance to one temporary license during a regular license term, coinciding with its first 150 days; no extension is allowed.
Release
A regular license for the full or remaining term requires the agency release and compliance with AS 25.27.244. The agency determination is an applicant condition.
Renewal
Meet the active salesperson renewal requirements, continuing education, insurance and applicable fees.

Official no-examination sources

Effective from 2026-09-22.

Real Estate Salesperson License

Ordinary Alaska salesperson license, including renewal, reinstatement, restoration and reactivation pathways.

Licensing authority: Alaska Real Estate Commission / Division of Corporations, Business and Professional Licensing · Application information

Renewal of active license
No examination is required for this applicant pathway.
Application
File complete renewal application, license renewal fee and recovery fund fee before lapse.
Education
Certify completion of 20 hours of approved continuing education under AS 08.88.091(d) and 12 AAC 64.500.
Eligibility
Hold an active salesperson license eligible for renewal; licenses lapse January 31 of even-numbered years unless renewed.
Insurance
Maintain and certify errors and omissions insurance under AS 08.88.172(f).
Military exemptions
AS 08.01.100(f) permits an implemented continuing-education waiver during active duty; subsection (g) exempts qualifying good-standing military licensees from maintenance requirements during specified combat or hazardous deployment and for 180 days after return when not practicing privately for profit.

Official no-examination sources

Effective from 2026-09-22.

Conversion of temporary child support license on agency release
No examination is required for this applicant pathway.
Eligibility
Hold the temporary salesperson occupational license and obtain the child-support agency release before it expires.
Prior eligibility
The temporary license was issued only to an otherwise eligible applicant; conversion uses that established issuance or renewal eligibility.

Official no-examination sources

Effective from 2026-09-22.

Initial licensure by endorsement
Alaska Real Estate Salesperson Examination — State Law Portion
Application
Submit a signed complete application, supporting documents, applicable application/license fees and recovery fund fee.
Board form activity wording
Form 08-4169, Application Instructions item 6, states: 6. PRINCIPAL OCCUPATION STATEMENT Completion of a written statement verifying you have worked as a real estate licensee as your principal occupation within the immediate six months preceding the date of application [12 AAC 64.061(c)(l)]. The statement is included as Part VI of the application form. To be eligible for endorsement, you must have within those six months: • owned a real estate business; • been employed as a broker by a corporation or partnership; or • been an actively licensed broker or associate broker under another broker [12 AAC 64.061(c)]. The salesperson-specific controlling rule is 12 AAC 64.061(c)(2), quoted in the route evidence.
Education
Document the education topics/hours in 12 AAC 64.063(c)(1)-(6) and (8), plus six contact hours of Alaska real estate law under 12 AAC 64.059(c)(6); endorsement education must have been completed within 24 months before application.
Employing broker
Provide employing broker information and signature; practice through the registered office of the employing Alaska broker.
Errors and omissions
Obtain and document errors and omissions insurance under AS 08.88.172.
Fitness
Not under indictment for the offenses specified in AS 08.88.171(c); following a qualifying conviction, seven years must have elapsed after completion of the sentence. Disciplinary or investigation history is referred to the Commission under 12 AAC 64.059(h).
License held
Hold a valid active equivalent real estate license issued by another state; lapsed, suspended, disciplinarily surrendered or restricted licenses do not qualify under 12 AAC 64.061(a).
License history
Licensing authorities must provide complete licensure history, including disciplinary action or investigation, from jurisdictions where the applicant holds or has held a license.
Minimum age
At least 19 years old under AS 08.88.171(c).
Post license education
AS 08.88.263(3) requires post-license education if the applicant has held the other-state license for less than one year; holders for one year or more are exempt.
Recent practice
Under 12 AAC 64.061(c)(2), submit an affidavit of employment by or affiliation with a broker as a salesperson within the six months immediately preceding application; the Commission may request activity records.
Score window
File a complete application within six months after passing the Alaska salesperson state-law portion.
Initial licensure by examination
Application
Submit a signed complete application, supporting documents, applicable application/license fees and recovery fund fee.
Education
Complete 40 hours of Commission-approved salesperson prelicensing education within the 18 months immediately preceding application; the disaster exception in 12 AAC 64.063(h) permits filing up to 60 days after testing resumes.
Employing broker
Provide employing broker information and signature; practice through the registered office of the employing Alaska broker.
Errors and omissions
Obtain and document errors and omissions insurance under AS 08.88.172.
Fitness
Not under indictment for the offenses specified in AS 08.88.171(c); following a qualifying conviction, seven years must have elapsed after completion of the sentence. Disciplinary or investigation history is referred to the Commission under 12 AAC 64.059(h).
License history
Licensing authorities must provide complete licensure history, including disciplinary action or investigation, from jurisdictions where the applicant holds or has held a license.
Minimum age
At least 19 years old under AS 08.88.171(c).
Post license education
Complete 30 hours of approved post-license education within one year of initial licensure and file certification and fee within the following 30 days, unless the endorsement exemption in AS 08.88.263(3) applies.
Same session
12 AAC 64.010(d) requires both general and state parts in the same examination session. The July 2026 candidate handbook directs candidates passing only one part to retake the entire examination.
Score window
File the completed licensure application within six calendar months of passing, calculated under 12 AAC 64.060(e).
Reactivation during inactive period under 24 months
No examination is required for this applicant pathway.
Application
Submit completed reactivation application, appropriate fees, insurance evidence and employing broker information; any outstanding renewal/education obligations remain applicable.
Inactive period
AS 08.88.251(c) requires inactive status for less than 24 months; the Board form describes reactivation without retesting during the two-year inactive period.

Official no-examination sources

Effective from 2026-09-22.

Reinstatement following failure to renew, lapse under 24 months
No examination is required for this applicant pathway.
Application
Complete reinstatement application and required license/reinstatement/recovery fees; provide insurance and employing broker information. Reinstatement is active only.
Education
Provide continuing education for inactive/lapsed licensing periods and post-license education if applicable.
Lapse
The controlling AS 08.88.241(a) applies to a lapse less than 24 months. The Board form says reinstatement without retesting within 24 months of expiration.

Official no-examination sources

Effective from 2026-09-22.

Reinstatement following lapse for post license education noncompliance
No examination is required for this applicant pathway.
Application
Pay reinstatement, recovery and applicable fees, provide insurance and employing broker information; only active reinstatement is available.
Education
Complete the outstanding 30-hour post-license education and supply the required certification and supporting documents.
Lapse
Reinstatement under AS 08.88.241(a) requires a lapse of less than 24 months.

Official no-examination sources

Effective from 2026-09-22.

Relicensure after inactive status for 24 months or longer
Application
Submit a signed complete application, supporting documents, applicable application/license fees and recovery fund fee.
Education
Complete 40 hours of Commission-approved salesperson prelicensing education within the 18 months immediately preceding application; the disaster exception in 12 AAC 64.063(h) permits filing up to 60 days after testing resumes.
Employing broker
Provide employing broker information and signature; practice through the registered office of the employing Alaska broker.
Errors and omissions
Obtain and document errors and omissions insurance under AS 08.88.172.
Fitness
Not under indictment for the offenses specified in AS 08.88.171(c); following a qualifying conviction, seven years must have elapsed after completion of the sentence. Disciplinary or investigation history is referred to the Commission under 12 AAC 64.059(h).
Inactive period
AS 08.88.251(c) requires initial-licensure requirements after inactive status for 24 months or longer.
License history
Licensing authorities must provide complete licensure history, including disciplinary action or investigation, from jurisdictions where the applicant holds or has held a license.
Minimum age
At least 19 years old under AS 08.88.171(c).
Post license education
Complete 30 hours of approved post-license education within one year of initial licensure and file certification and fee within the following 30 days, unless the endorsement exemption in AS 08.88.263(3) applies.
Same session
12 AAC 64.010(d) requires both general and state parts in the same examination session. The July 2026 candidate handbook directs candidates passing only one part to retake the entire examination.
Score window
File the completed licensure application within six calendar months of passing, calculated under 12 AAC 64.060(e).
Relicensure after lapse for more than 24 months
Application
Submit a signed complete application, supporting documents, applicable application/license fees and recovery fund fee.
Education
Complete 40 hours of Commission-approved salesperson prelicensing education within the 18 months immediately preceding application; the disaster exception in 12 AAC 64.063(h) permits filing up to 60 days after testing resumes.
Employing broker
Provide employing broker information and signature; practice through the registered office of the employing Alaska broker.
Errors and omissions
Obtain and document errors and omissions insurance under AS 08.88.172.
Fitness
Not under indictment for the offenses specified in AS 08.88.171(c); following a qualifying conviction, seven years must have elapsed after completion of the sentence. Disciplinary or investigation history is referred to the Commission under 12 AAC 64.059(h).
Lapse
AS 08.88.241(b): a lapse of more than 24 months requires initial-licensure qualifications.
License history
Licensing authorities must provide complete licensure history, including disciplinary action or investigation, from jurisdictions where the applicant holds or has held a license.
Minimum age
At least 19 years old under AS 08.88.171(c).
Post license education
Complete 30 hours of approved post-license education within one year of initial licensure and file certification and fee within the following 30 days, unless the endorsement exemption in AS 08.88.263(3) applies.
Same session
12 AAC 64.010(d) requires both general and state parts in the same examination session. The July 2026 candidate handbook directs candidates passing only one part to retake the entire examination.
Score window
File the completed licensure application within six calendar months of passing, calculated under 12 AAC 64.060(e).
Discretionary restoration of revoked license after hearing
No examination is required for this applicant pathway.
Criminal revocation
AS 08.88.071(a)(11) imposes seven years after sentence completion for the specified conviction-based revocation.
Discretion
Restoration depends on the Commission decision and applicable order conditions; an unidentified case-specific assessment is a condition.
Hearing
The Commission may reinstate after a hearing finding the applicant able to practice with skill and safety; prior revocation must be disclosed and reviewed.

Official no-examination sources

Effective from 2026-09-22.

Reissue prior salesperson license after broker post license education failure
No examination is required for this applicant pathway.
Application
Apply and pay the required fees under 12 AAC 64.064(g).
Eligibility
Previously licensed salesperson subsequently issued a broker or associate broker license who failed its post-license education; remain otherwise eligible for a salesperson license.

Official no-examination sources

Effective from 2026-09-22.

Reissuance of suspended license
No examination is required for this applicant pathway.
Board review
12 AAC 64.099 requires Commission review of suspension history. Any unnamed assessment imposed by a disciplinary order is an applicant condition.
Eligibility
Satisfy the suspension order, Commission-required remedial education and other licensure qualifications; the surrendered license is reissued for the unexpired balance of its term.

Official no-examination sources

Effective from 2026-09-22.

Return of voluntarily surrendered license
No examination is required for this applicant pathway.
Disciplinary history
Any suspension or revocation circumstances require Commission review under 12 AAC 64.099.
Eligibility
The Board must determine competence to resume practice; pay the appropriate renewal fee.

Official no-examination sources

Effective from 2026-09-22.

Alaska Real Estate Salesperson Examination — State Law Portion

Examination outline
  • I. Powers of the Alaska Real Estate Commission (Sales 4 items)
    • A. Investigations, hearings and appeals
    • B. Recovery fund
    • C. Sanctions
    • C. Sanctions — 1. Disciplinary actions
    • C. Sanctions — 2. Penalties
    • D. Examination of records
  • II. Licensing (Sales 4 items)
    • A. Activities requiring a license
    • B. Change in license status
    • C. Licensed and unlicensed assistants
    • D. Errors and omissions insurance
  • III. Licensee Duties and Disclosures to the Public (Sales 10–12 items)
    • A. Licensee relationships
    • B. Conflict of interest
    • C. Compensation
    • D. Property disclosure
    • D. Property disclosure — 1. Residential Real Property Transfer Disclosure
    • D. Property disclosure — 2. Common Interest Ownership Act
    • D. Property disclosure — 2. Common Interest Ownership Act — i. Resale certificates
    • D. Property disclosure — 2. Common Interest Ownership Act — ii. Public offering statements
  • IV. Requirements Governing the Activities of Licensees (Sales 10 items)
    • A. Advertising
    • B. Broker/Salesperson relationship
    • C. Handling of documents
    • D. Handling of monies
    • E. Prohibited conduct
  • V. Personal Services Agreements (Sales 4–6 items)
    • A. Listings
    • B. Property management
    • C. Buyer representation
  • VI. Property Management (Sales 6 items)
    • A. Property management
    • B. Alaska Landlord Tenant Act
Examination sources

Real Estate Salesperson Examination — National/General Portion

Provider
Pearson VUE
Format
General (national) portion of a state real estate salesperson examination delivered by Pearson VUE; scored separately from the state portion with a pass/fail result, and a candidate who passes one part and fails the other retakes only the failed part
Exam questions
85 items: 80 scored items and 5 pretest items that are not counted toward the score
Examination outline
  • I. REAL PROPERTY CHARACTERISTICS, LEGAL DESCRIPTIONS, AND PROPERTY USE (SALES 11; 6 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Real property vs. personal property (3 items): 1. Fixtures, trade fixtures, emblements; 2. Attachment, severance, and bill of sale
    • B. Characteristics of real property (2 items): 1. Economic characteristics (a. Scarcity; b. Modification / Improvement; c. Permanence of Investment / Fixity; d. Area Preference / Situs); 2. Physical characteristics (a. Immobility; b. Indestructibility; c. Non-homogeneity / Uniqueness)
    • C. Legal descriptions (3 items): 1. Methods used to describe real property; 2. Survey
    • D. Public and private land use controls – encumbrances (3 items): 1. Public controls – governmental powers (a. Police power, eminent domain, taxation, escheat; b. Zoning ordinances); 2. Private controls, restrictions, and encroachments (a. Covenants, conditions, and restrictions (CC&Rs), HOAs; b. Easements; c. Licenses and encroachments)
  • II. FORMS OF OWNERSHIP, TRANSFER, AND RECORDING OF TITLE (SALES 9; 5 KNOWLEDGE, 2 APPLICATION, 2 ANALYSIS)
    • A. Ownership, estates, rights, and interests (5 items): 1. Forms of ownership; 2. Freehold estate (a. Fee simple absolute; b. Fee simple defeasible, determinable, and condition subsequent; c. Life estate; d. Bundle of rights); 3. Leasehold estates and types of leases (a. Estate for years and from period to period (periodic estate); b. Estate at will and estate at sufferance; c. Gross, net, percentage leases, etc.); 4. Liens and lien priority; 5. Air, surface and sub-surface rights
    • B. Deed, title, transfer of title, and recording of title (4 items): 1. Elements of a valid deed; 2. Types of deeds; 3. Title transfer (a. Voluntary alienation; b. Involuntary alienation); 4. Recording the title (a. Constructive and actual notice; b. Title abstract and chain of title; c. Marketable title and cloud on title; d. Attorney title opinion, quiet title lawsuit, and title insurance)
  • III. PROPERTY VALUE AND APPRAISAL (SALES 11; 6 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Concept of value (4 items): 1. Market value vs. market price; 2. Characteristics of value; 3. Principles of value
    • B. Appraisal process (2 items): 1. Purpose and steps to an appraisal; 2. Federal oversight of the appraisal process
    • C. Methods of estimating value and Broker Price Opinions (BPO) (5 items): 1. Sales comparison approach (market data); 2. Cost approach (a. Improvements and depreciation; b. Physical deterioration, functional, and economic obsolescence; c. Reproduction or replacement costs); 3. Income approach; 4. Gross rent and gross income multipliers; 5. Comparative Market Analysis (CMA); 6. Broker Price Opinion (BPO); 7. Assessed value and tax implications
  • IV. REAL ESTATE CONTRACTS AND AGENCY (SALES 16; 7 KNOWLEDGE, 6 APPLICATION, 3 ANALYSIS)
    • A. Types of contracts (1 item): 1. Express vs. implied; 2. Unilateral vs. bilateral
    • B. Required elements of a valid contract (3 items): 1. Voluntary; 2. Agreement / Promise; 3. Legally competent parties; 4. Lawful consideration; 5. Legal act / Purpose
    • C. Contract performance (3 items): 1. Executed vs. executory; 2. Valid vs. void; 3. Voidable vs. unenforceable; 4. Breach of contract, rescission, and termination; 5. Liquidated, punitive, or compensatory damages; 6. Statute of Frauds; 7. Electronic contracts and digital signatures; 8. Time is of the essence
    • D. Sales contract (2 items): 1. Offer and counteroffer; 2. Earnest money and liquidated damages; 3. Equitable title; 4. Contingencies; 5. Disputes and breach of contract; 6. Option contract and installment sales contract
    • E. Types of agency and licensee-client relationships (2 items)
    • F. Creation and termination of agency (2 items)
    • G. Licensee obligations to parties of a transaction (3 items)
  • V. REAL ESTATE PRACTICE (SALES 10; 5 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Responsibilities of broker (2 items): 1. Practicing within scope of expertise; 2. Unauthorized practice of law
    • B. Brokerage agreements between the broker and principal (seller, buyer, landlord, or tenant) (3 items): 1. Seller representation – Types of listing agreements (a. Exclusive right-to-sell and exclusive agency listing; b. Non-exclusive or open listing; c. Net listing (conflict of interest); d. Multiple listing service (MLS)); 2. Buyer representation; 3. Property management agreement (a. Accounting for funds; b. Property maintenance; c. Leasing property; d. Collecting rents and security deposits); 4. Termination of agreements; 5. Services, fees, and compensation
    • C. Fair Housing (3 items): 1. Equal opportunity in housing; 2. Protected classes; 3. Fair housing laws; 4. Illegal practices, enforcement, and penalties; 5. Prohibited advertising; 6. Housing and Urban Development (HUD); 7. Americans with Disabilities Act (ADA)
    • D. Risk management (2 items): 1. Supervision; 2. Compliance with federal regulations; including Privacy and Do Not Contact; 3. Vicarious liability; 4. Antitrust laws; 5. Fraud and misrepresentation; 6. Types of insurance (a. Errors and Omissions; b. General Liability)
  • VI. PROPERTY DISCLOSURES AND ENVIRONMENTAL ISSUES (SALES 9; 5 KNOWLEDGE, 3 APPLICATION, 1 ANALYSIS)
    • A. Property conditions and environmental issues (5 items): 1. Hazardous substances (a. Lead-based paint; b. Asbestos, radon, and mold; c. Groundwater contamination and underground storage tanks; d. Waste disposal sites and brownfields; e. Flood plains, flood zones, and flood insurance); 2. Clean Air and Water Acts; 3. Environmental Protection Agency (EPA) (a. Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA); b. Superfund Amendment and Reauthorization Act (SARA); c. Environmental site assessments (including Phase I and II studies) and impact statements; d. Wetlands protection)
    • B. Environmental and property disclosure obligations and liability (4 items)
  • VII. FINANCING AND SETTLEMENT (SALES 7; 4 KNOWLEDGE, 2 APPLICATION, 1 ANALYSIS)
    • A. Financing concepts and components (2 items): 1. Methods of financing (a. Mortgage financing – conventional and non-conventional loans; b. Seller financing – land contract/contract for deed); 2. Lien theory vs. title theory and deed of trust; 3. Sources of financing (primary and secondary mortgage markets, and seller financing); 4. Types of loans and loan programs; 5. Mortgage clauses
    • B. Lender Requirements (1 item): 1. FHA requirements; 2. VA requirements; 3. USDA Loan requirements and rural development financing; 4. Conventional requirements; 5. Buyer qualification and Loan to Value (LTV); 6. Hazard and flood insurance; 7. Private mortgage insurance (PMI) and mortgage insurance premium (MIP)
    • C. Federal Financing Regulations and Regulatory Bodies (2 items): 1. Truth-in-Lending and Regulation Z; 2. TILA-RESPA Integrated Disclosures (TRID) (a. Consumer Financial Protection Bureau (CFPB); b. Loan Estimate (LE); c. Closing Disclosure (CD)); 3. Real Estate Settlement Procedures Act (RESPA) (a. Referrals; b. Rebates); 4. Equal Credit Opportunity Act (ECOA); 5. Mortgage fraud and predatory lending
    • D. Settlement and closing the transaction (2 items)
  • VIII. REAL ESTATE MATH CALCULATIONS (SALES 7; 4 APPLICATION, 3 ANALYSIS)
    • A. Property area calculations (1 item): 1. Square footage; 2. Acreage total
    • B. Property valuation (1 item): 1. Comparative Market Analysis (CMA); 2. Net Operating Income (NOI); 3. Capitalization rate; 4. Equity in property; 5. Establishing a listing price; 6. Assessed value and property taxes
    • C. Commission/compensation (1 item)
    • D. Loan financing costs (1 item): 1. Interest; 2. Loan to Value (LTV); 3. Fees; 4. Amortization, discount points, and prepayment penalties
    • E. Settlement and closing costs (1 item): 1. Purchase price and down payment; 2. Monthly mortgage calculations- principal, interest, taxes, and insurance (PITI); 3. Net to the seller; 4. Cost to the buyer; 5. Prorated items; 6. Debits and credits; 7. Transfer tax and recording fee
    • F. Investment (1 item): 1. Return on investment; 2. Appreciation; 3. Depreciation; 4. Tax implications on investment
    • G. Property management calculations (1 item): 1. Property management and budget calculations; 2. Tenancy and rental calculations
Examination sources