BROKER MANAGEMENT CLINIC #3 – Supervision

BMC #3 - Supervision

The objectives of this course is to provide the student with an understanding of the concepts of broker supervision in risk management and implement effective and prudent measures to ensure it, including:

  • Supervising licensees
  • Delegation of authority
  • Unlicensed activities
  • Care concepts
  • Marketing and advertising
  • Record keeping
  • Errors & Omissions insurance.

BROKER MANAGEMENT CLINIC 

BMC #3 - Supervision (3 HOUR CREDITS) Commissioner's Standards

The 9-hour BMC is required for:

  • A renewing Designated Broker.
  • A renewing Delegated Associate Broker, that is, one who is delegated the authority to act on the Designated Broker’s behalf pursuant to A.R.S §32-2151.01(G).
  • An original broker applicant, who must complete the BMC before the applicant’s broker’s license may be activated.

Who is not required to take the new BMC?

  • A salesperson or broker acting as the Designated Broker in the Designated Broker’s temporary absence pursuant to A.R.S §32-2127(D).
  • A salesperson or associate broker acting as a branch manager pursuant to A.R.S §32-2127(B) &(C), except for a Delegated Associate Broker acting under a delegation authority pursuant to A.R.S §32-2151.01(G) who is acting as a branch manager.
  • A “temporary broker” licensed for the purpose of winding up the business of a deceased designated broker pursuant to A.R.S §32-2133.
  • Either a Designated Broker or Delegated Associate Broker who, during the current license period and prior to January 1, 2013, completed the 3-hour BMC.

Lessons