BROKER MANAGEMENT CLINIC #1-Statutes and Rules

BMC #1 - Statutes and Rules

The objectives of this course is to provide the student with an understanding of the Commissioner's Rules, Substantive Policy Statements, Arizona Revised Statues,contracts, employment agreements, record keeping requirements, fiduciary duties, trust fund accounts, material disclosures, advertising and promotions, ADRE investigations, employment agreements, ADRE broker audits, contracts and other related statutes and rules.

BROKER MANAGEMENT CLINIC 

BMC #1 - Statutes and Rules (3 HOUR CREDITS) Commissioner's Standards

Who is required to take BMC Courses?

DESIGNATED BROKER & DELEGATED ASSOCIATE BROKER

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