A person who holds a valid active real estate license issued by another state shall be granted an equivalent Alaska real estate license if that person
- (1) passes the portion of the real estate examination which examines on state law;
- (2) meets the requirements of AS 08.88.171; and
- (3) satisfies the educational requirements under AS 08.88.095(a) if the person has not held the license issued by the other state for one year or more.