An Alaska licensee is reviewing a broker reconciles trust accounts used for property management. What is the best answer?
Correct Answer
C) Trust accounts must be reconciled monthly by comparing the bank statement, check register, monthly deposits and expenditures, and transaction ledgers
12 AAC 64.220(f) requires monthly trust-account reconciliation. Source basis: Alaska DCCED Real Estate Commission RECregulations.pdf and Alaska Court System PUB-30 Landlord and Tenant Act booklet: cited rules include 12 AAC 64.180, 64.200, 64.220, 64.240, 64.550, 64.560, 64.570 and AS 34.03 security-deposit/remedy rules; checked 2026-04-30.
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Related Topics & Key Terms
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Related Concepts
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
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