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.