diff --git a/lib/rules/prefer-exact-props.js b/lib/rules/prefer-exact-props.js
index 044311643d..c7c991df06 100644
--- a/lib/rules/prefer-exact-props.js
+++ b/lib/rules/prefer-exact-props.js
@@ -28,7 +28,9 @@ module.exports = {
   },
 
   create: Components.detect((context, components, utils) => {
+    const typeAliases = {};
     const exactWrappers = propWrapperUtil.getExactPropWrapperFunctions(context);
+    const sourceCode = context.getSourceCode();
 
     function getPropTypesErrorMessage() {
       const formattedWrappers = propWrapperUtil.formatPropWrapperFunctions(exactWrappers);
@@ -71,23 +73,46 @@ module.exports = {
       );
     }
 
+    function isNonExactPropWrapperFunction(node) {
+      return (
+        node &&
+        node.type === 'CallExpression' &&
+        !propWrapperUtil.isExactPropWrapperFunction(context, sourceCode.getText(node.callee))
+      );
+    }
+
+    function reportPropTypesError(node) {
+      context.report({
+        node: node,
+        message: PROP_TYPES_MESSAGE,
+        data: getPropTypesErrorMessage()
+      });
+    }
+
+    function reportFlowError(node) {
+      context.report({
+        node: node,
+        message: FLOW_MESSAGE
+      });
+    }
+
     return {
+      TypeAlias: function(node) {
+        // working around an issue with eslint@3 and babel-eslint not finding the TypeAlias in scope
+        typeAliases[node.id.name] = node;
+      },
+
       ClassProperty: function(node) {
         if (!propsUtil.isPropTypesDeclaration(node)) {
           return;
         }
 
         if (hasNonExactObjectTypeAnnotation(node)) {
-          context.report({
-            node: node,
-            message: FLOW_MESSAGE
-          });
-        } else if (isNonEmptyObjectExpression(node.value) && exactWrappers.size > 0) {
-          context.report({
-            node: node,
-            message: PROP_TYPES_MESSAGE,
-            data: getPropTypesErrorMessage()
-          });
+          reportFlowError(node);
+        } else if (exactWrappers.size > 0 && isNonEmptyObjectExpression(node.value)) {
+          reportPropTypesError(node);
+        } else if (exactWrappers.size > 0 && isNonExactPropWrapperFunction(node.value)) {
+          reportPropTypesError(node);
         }
       },
 
@@ -97,18 +122,13 @@ module.exports = {
         }
 
         if (hasNonExactObjectTypeAnnotation(node)) {
-          context.report({
-            node: node,
-            message: FLOW_MESSAGE
-          });
+          reportFlowError(node);
         } else if (hasGenericTypeAnnotation(node)) {
           const identifier = node.typeAnnotation.typeAnnotation.id.name;
-          const propsDefinition = variableUtil.findVariableByName(context, identifier);
+          const typeAlias = typeAliases[identifier];
+          const propsDefinition = typeAlias ? typeAlias.right : null;
           if (isNonExactObjectTypeAnnotation(propsDefinition)) {
-            context.report({
-              node: node,
-              message: FLOW_MESSAGE
-            });
+            reportFlowError(node);
           }
         }
       },
@@ -120,20 +140,16 @@ module.exports = {
 
         const right = node.parent.right;
         if (isNonEmptyObjectExpression(right)) {
-          context.report({
-            node: node,
-            message: PROP_TYPES_MESSAGE,
-            data: getPropTypesErrorMessage()
-          });
+          reportPropTypesError(node);
+        } else if (isNonExactPropWrapperFunction(right)) {
+          reportPropTypesError(node);
         } else if (right.type === 'Identifier') {
           const identifier = right.name;
           const propsDefinition = variableUtil.findVariableByName(context, identifier);
           if (isNonEmptyObjectExpression(propsDefinition)) {
-            context.report({
-              node: node,
-              message: PROP_TYPES_MESSAGE,
-              data: getPropTypesErrorMessage()
-            });
+            reportPropTypesError(node);
+          } else if (isNonExactPropWrapperFunction(propsDefinition)) {
+            reportPropTypesError(node);
           }
         }
       }
diff --git a/tests/lib/rules/prefer-exact-props.js b/tests/lib/rules/prefer-exact-props.js
index c159b4b3e5..60bea7af30 100644
--- a/tests/lib/rules/prefer-exact-props.js
+++ b/tests/lib/rules/prefer-exact-props.js
@@ -186,6 +186,39 @@ ruleTester.run('prefer-exact-props', rule, {
         bar: PropTypes.string,
       };
     `
+  }, {
+    code: `
+      import somethingElse from "something-else";
+      const props = {
+        foo: PropTypes.string,
+        bar: PropTypes.shape({
+          baz: PropTypes.string
+        })
+      };
+      class Component extends React.Component {
+        render() {
+          return <div />;
+        }
+      }
+      Component.propTypes = somethingElse(props);
+    `
+  }, {
+    code: `
+      import somethingElse from "something-else";
+      const props =
+      class Component extends React.Component {
+        static propTypes = somethingElse({
+          foo: PropTypes.string,
+          bar: PropTypes.shape({
+            baz: PropTypes.string
+          })
+        });
+        render() {
+          return <div />;
+        }
+      }
+    `,
+    parser: 'babel-eslint'
   }],
   invalid: [{
     code: `
@@ -291,5 +324,77 @@ ruleTester.run('prefer-exact-props', rule, {
       ]
     },
     errors: [{message: 'Component propTypes should be exact by using one of \'exact\', \'forbidExtraProps\'.'}]
+  }, {
+    code: `
+      const props = {
+        foo: PropTypes.string,
+        bar: PropTypes.shape({
+          baz: PropTypes.string
+        })
+      };
+      class Component extends React.Component {
+        render() {
+          return <div />;
+        }
+      }
+      Component.propTypes = props;
+    `,
+    settings: {
+      propWrapperFunctions: [
+        {property: 'exact', exact: true},
+        {property: 'forbidExtraProps', exact: true}
+      ]
+    },
+    errors: [{message: 'Component propTypes should be exact by using one of \'exact\', \'forbidExtraProps\'.'}]
+  }, {
+    code: `
+      import somethingElse from "something-else";
+      function Component({ foo, bar }) {
+        return <div>{foo}{bar}</div>;
+      }
+      Component.propTypes = somethingElse({
+        foo: PropTypes.string,
+        bar: PropTypes.string,
+      });
+    `,
+    settings: settings,
+    errors: [{message: 'Component propTypes should be exact by using \'exact\'.'}]
+  }, {
+    code: `
+      import somethingElse from "something-else";
+      const props = {
+        foo: PropTypes.string,
+        bar: PropTypes.shape({
+          baz: PropTypes.string
+        })
+      };
+      class Component extends React.Component {
+        render() {
+          return <div />;
+        }
+      }
+      Component.propTypes = somethingElse(props);
+    `,
+    settings: settings,
+    errors: [{message: 'Component propTypes should be exact by using \'exact\'.'}]
+  }, {
+    code: `
+      import somethingElse from "something-else";
+      const props =
+      class Component extends React.Component {
+        static propTypes = somethingElse({
+          foo: PropTypes.string,
+          bar: PropTypes.shape({
+            baz: PropTypes.string
+          })
+        });
+        render() {
+          return <div />;
+        }
+      }
+    `,
+    settings: settings,
+    parser: 'babel-eslint',
+    errors: [{message: 'Component propTypes should be exact by using \'exact\'.'}]
   }]
 });