12 AAC 64.063. Minimum education requirements for licensure

(a) All real estate education courses used to qualify for initial licensure must

(1) meet the requirements of 12 AAC 64.400 - 12 AAC 64.470; and

(2) have been completed within the 18 months immediately preceding the date of application.

(b) To meet the real estate education requirements for licensure under AS 08.88.171 (a) or (b), an applicant for a broker or associate broker license must document completion of the following contact hours of education in the following topics:

(1) disclosures - four contact hours;

(2) broker supervision requirements and record keeping - four contact hours;

(3) trust accounting procedures for sales, property management and community association management - five contact hours; and

(4) organizing and managing a real estate office for sales, property management and community association activities - two contact hours;

(5) repealed 2/12/99.

(c) To meet the real estate education requirements for licensure under AS 08.88.171 (c), an applicant for an initial real estate license shall document completion of the following topics and hours:

(1) agency relationships, disclosure, and conflict of interest - three contact hours;

(2) forms of ownership, including role of community associations - two contact hours;

(3) property law, public and private rights and limitations - two contact hours;

(4) forms of conveyances and recording of documents - two contact hours;

(5) contracts and transaction documents, including resale certificates - four contact hours;

(6) financing instruments and accounting principals for community associations - three contact hours;

(7) Alaska real estate license law and Alaska landlord tenant law - three contact hours; and

(8) federal fair housing and RESPA laws - one contact hour.

(d) To document the real estate education received, an applicant shall list on the application form the following information:

(1) course title and commission course approval number, if applicable;

(2) course sponsor;

(3) number of contact hours; and

(4) instructor of the course.

(e) An associate broker who has met the education requirements in (b) of this section does not need to repeat those requirements when upgrading to a broker license.

(f) A licensee is responsible for maintaining adequate and detailed records, including course certificates or transcripts, showing completion of education courses claimed, and shall make the records available to the commission upon request. Records must be retained for three years after the date a course was taken.

(g) For the purposes of this section and AS 08.88.091 ,

(1) one contact hour equals a minimum of 50 minutes of instruction;

(2) one academic semester credit hour equals 15 contact hours;

(3) one academic quarter credit hour equals 10 contact hours.

History: Eff. 10/8/90, Register 116; am 3/6/91, Register 117; am 2/12/99, Register 149

Authority: AS 08.88.081

AS 08.88.091

AS 08.88.171

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