Salesperson Maria Chen is working under broker James Kowalski in Anchorage. James decides to close his brokerage and surrender his broker's license effective immediately. Maria still has an active salesperson license. Under Alaska license law, what is the immediate effect on Maria's ability to practice real estate?
Correct Answer
D) Maria's license automatically becomes inactive, and she may not engage in real estate activities until she affiliates with a new licensed broker.
Under AS 08.88 and 12 AAC 64, a salesperson's license must be held under and supervised by a licensed broker. When the sponsoring broker's license is surrendered or terminated, the salesperson's license becomes inactive by operation of law. Maria cannot perform any real estate activities until she transfers her license to a new qualifying broker and AREC processes the transfer.
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Related Topics & Key Terms
Key Terms:
Related Concepts
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
- → A responsible broker in Wyoming asks about a first-time salesperson applicant prepares for Wyoming-specific licensing. Which answer follows Wyoming law?
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- → For the Wyoming salesperson state portion, a licensee asks how long Wyoming renewal periods are. Which statement is correct?
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