For the Alaska salesperson state portion, a broker keeps property management trust-account records. Which statement is correct?
Correct Answer
D) The broker must track landlord funds and tenant funds through related but separate transaction codes and ledgers
12 AAC 64.220(b) requires a landlord/property ledger and related separate tenant transaction code and ledger for each property management contract. 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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Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
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