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ARIZONA DEPARTMENT OF REAL ESTATE (ADRE) PRE-LICENSING EDUCATION (Arizona Department of Real Estate)

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Instructions not a part of the Application; do not file with ADRE
ARIZONA DEPARTMENT OF REAL ESTATE (ADRE)
PRE-LICENSING EDUCATION – BROKER LIVE CLASSROOM
CERTIFICATE OF COURSE APPROVAL APPLICATION
(ED-112-PE)
Any
school licensed by ADRE, or exempt from licensure under A.A.C. R4-28-404
must present to ADRE for approval, all ADRE
Pre-Licensing courses offering credit toward an Arizona real estate license. Only ADRE approved School Administrators of an
ADRE approved school may submit a request for course and/or instructor approvals. All ADRE approved course content must be
directly related to professional Arizona real estate practice and adhere to all specific guidelines as stated in the current
A.R.S §§ 32-2124, 32-2135, and the ADRE Detailed Instructor Outline Prescribed Curriculum Broker’s License, as well as, serve to
protect the public interest by providing relevant education to students to enter the professional practice of Arizona real estate.
Broker Live Classroom Pre-Licensing Education Course Application Requirements
Definitions:
“School” means a person or entity that offers a course of study towards completion of the education requirements leading to
licensure or renewal of licensure.
“Credit Hour” means 50 minutes of instruction, which shall include participation and interaction. A.A.C. R4-28-101
“Course” means a class, seminar, or presentation.
“Certificate of Course Approval”. Any school offering a course of study for original licensure of a real estate applicant shall apply
for and possess a Certificate of Course Approval for each course offered by the School. The school’s authorized representative shall
submit the requirements listed in A.A.C. R4-28-404(C)
.
“Host/remote location”. Instruction/delivery methods for courses may be presented by a host/remote location. The host/remote
location instruction delivery method must be classes that are held in a classroom, with synchronized platforms, bi-directional audio
and video communication between the host and remote classroom, administered by a live instructor from the host classroom, and
monitored by a living onsite monitor present at all times in the classroom at each remote classroom location.
Co
urse Application Requirements:
Course Orientation: The prospective student shall sign an agreement or application to enroll, presented to the student by the
school administrator, that includes in bold type and capital letters: 1) The course, or course segment title within a curriculum; 2) The
ADRE approved course number; 3) The total credit hours applicable to licensure; 4) The cost of the course; 5) A statement of the
refund policy; 6) A list of any/all required course material, with information on the accessibility and/or required cost of the material;
7) Course completion requirements; 8) Policies regarding attendance and behavior; 9) Topical outline; 10) Learning objectives; and
11) a statement of any job placement services.
Ins
tructor Qualifications. All instructors must be listed on application, and, must possess a current Arizona Pre-License Instructor
number. The school Administrator shall attest to having identified and ensured that all instructors are an ADRE approved
instructor, and that the instructor maintains knowledge and competence of the course content, and has prepared specifically to the
course content being taught. A Guest Speaker does not apply to pre-licensure courses.
Instructor Methods/Student Participation/Interaction. Each credit hour shall include student participation/interaction with
appropriate teaching methods, which go beyond standard lecture, and in addition to lecture, should include at least two of the
following based on the topic area: scenarios with interactive discussion; role play activities; simulation, group exercises; quizzes,
quiz review; vocabulary review; math exercises, all designed to support the learning objectives of the course, and the topic.
Tea
ching Materials. Any, and all teaching materials, and/or aids used, including any student handouts and textbook titles must be
stated on application, confirming adherence to any applicable copyright laws, and that any required permissions have been obtained.
Do not submit hard copies of instructional material to ADRE.
Scho
ol End-of-Course (Final) Exam. All Pre-Licensing courses are required to have an end-of-course school examination. Final
school exam requirements shall contain a minimum of the following: 1) Not less than 150 questions; 2) Final exam questions must
be pulled from a question bank with a 2:1 ratio (300 question bank); 3) Questions must be related to the subject and content of the
course and may not contain true/false questions; 4) Exam must consist of multiple choice questions with at least 4 options for each
question/item; 4) Questions must be of sufficient rigor that they support the course’s learning objectives, test the student’s
knowledge, and ensure the student’s comprehension and retention of the material; 5) Final exam may not count toward the overall
time of the course; 6) A minimum 75% passing ratio must be achieved before a school course completion certificate is issued.
Stude
nt Identity Verification. A student signature roster shall be provided at each class offering, with an ADRE provided
attestation, (click here)
that by signing, the student attests that the signature indicates student’s true identity. In addition, the school
shall maintain a record for five years of each student attending the school The record shall include: the name of the student; the
dates of attendance; the course title and ADRE course number, credit hours awarded. The original signature roster for each course
must be retained by school for five (5) years.
Instructions not a part of the Application; do not file with ADRE
Student Course Evaluation. Upon completing the 90 hours
of classroom instruction the student must complete the ADRE
prelicensure course evaluation form, covering both content and instructor delivery (click here)
, School Administrator must be
prepared to demonstrate that “end-of-course” evaluations are being completed. All course evaluations must be retained according to
course number for five years from course completion.
Course Completion Certificate. After students pass the school final exam, and after the course evaluation form is completed, each
student shall receive a fully completed ADRE required Student Course Completion Certificate (click here)
, which includes: 1) the
name of course provider; 2) the course title; 3) the course number; 4) the course start date; 5) the course completion date; 6) hours
awarded; 7) the Student’s name; and 8) the School’s contact information. Note: Only the School Administrator shall complete and
sign the Student Course Completion Certificates. Providers (schools) are not to have a student fill in the information on their own
course completion certificate.
Credit Hour. The course must contain a minimum of ninety (90) credit hours. A “credit hour” is 50 minutes of instruction. A
“credit hour” does not include break time, administration of the final examination, nor sponsor presentation time. Maximum of 10
credit hours per day for pre-licensing education. A.A.C. R4-28-401(E).
Course Outline.* All applications must be complete at time of submission. Courses must be organized and divided into fifty
(50) minute instructional segments, with those segments organized into multiple units of instruction. Application must include a
very detailed course outline of the entire proposed course material with sufficient detail to clearly identify the course scope and
content. Each unit of instruction must be delivered in a manner that supports the learning objective of the course. The outline must
identify: 1). The nature of each subject matter and each specific topic, according to the ADRE Detailed Instructor Outline
Prescribed Curriculum, 2). Specific time allocations for each topic; 3). Topic placement within the instruction; 4). A desired
instruction outcome stating the relevant and unique proposed course learning objective for each instructional segment, and, 5).
the teaching method(s) applied. The outline must be presented in 12 point type. The ADRE provided School Administrator
Attestation must be signed by the authorized School Administrator.
Application Timeframe Filing Requirements (A.R.S §32-2135)
Pre-License classroom course applications must be received by ADRE no less than 30 days prior to the first course
presentation and allow ADRE a maximum 30 days for approval process.
Host/Remote Location course applications must be received by ADRE no less than 30 days prior to the first course
presentation.
Should deficiencies still exist after the overall time-frame period expires, the course approval will be denied. The school
may advertise a course, before its approval, only as “pending approval”. A.A.C. R4-28-103
Sale or promotion of products or services are only permitted prior to or after class, or during breaks. Lender programs
presented in class must be generic programs, offered through other Arizona lenders, and not proprietary to the presenting
lender.
A.R.S. §32-2135(E)
states, in pertinent part: “The commissioner may determine minimal content requirements for approving
educational courses….”.
Page 1 of 32
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019 Administrator’s Initials
PRE-LICEN
SING EDUCATION - BROKER LIVE CLASSROOM
CERTIFICATE OF COURSE APPROVAL APPLICATION
(FORM ED-112–PE)
Review the course application requirements prior to submitting this form.
SECTIO
N I – PRE-LICENSING EDUCATION COURSE INFORMATION
1. Course Title:
Date Submitted:
2. Course Type: Real Estate Broker Pre-licensure
Purpose: New Course—Recurring Revised Course Renewal Expiration Date*:
(*must file before expiration)
Total No. Credit
Hours:
3. If applicable, ADRE course number Previously approved for this same submitting School? Yes No
4. Desired Instructional Outcome (a descriptive summary of the course, its objective, and its application to protection of the public interest):
5. School’s Legal Name:
Phone No.:
Email Address:
School Address:
City
Zip Code
6. School License No.:
School Expiration Mo/Year:
7. Regular Business Hours: _________________ a.m. or p.m. through __________________ a.m. or p.m.
8. Days of Week with Regular Business Hours (Check all that apply):
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
9. Ten (10) Hours Maximum Per Day. Are measures in place to prevent students from receiving credit for more than ten (10) hours
of Pre-Licensing education per day? A.A.C. R4-28-401(E) Yes No
10. Arizona Practices.
A .Does the entire course content adhere to the Detailed Instructor Outline Prescribed Curriculum and clearly and
exclusively identify current Arizona Practices when it covers areas of practice, law, administrative code, custom or
the standard of care? Yes No
B. Is the course content accurate, specific to Arizona, timely, relevant, and in accordance with all applicable Arizona statutes,
rules and policies? Yes No
11. Approved Instructor(s) who will teach/continue to teach this course: If more names, list on separate sheet and check here
Instructor Name (Live Classroom)
Approval for
Pre-licensure?
ADRE Instructor #
Expiration Date.
Active AZ Real
Estate Broker?
Yes No
Yes No
Yes No
Yes No
Sponsor School (If secondary sponsor, Expedited Instructor Application required ED-103)
Arizona Department of Real Estate (ADRE)
Education Division
www.azre.gov
DOUGLAS A. DUCEY
Governor
JUDY LOWE
Commissioner
100 NORTH 15
th
AVENUE STE-201, PHOENIX, AZ 85007
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Page 2 of 32
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
SECT
ION II – COURSE ORIENTATION
SECTI
ON III - INSTRUCTION METHODS / TEACHING AIDS
SECTION IV - FINAL EXAMINATION
SECTION V – STUDENT IDENTITY VERIFICATION
19. Is a process in place to maintain the original ADRE required signature roster (click here), including the ADRE
student identity verification attestation for each course offering to track every sign-in and sign-out activity to
comply with record keeping requirements, etc.? Yes No
SECTION VI – COURSE EVALUATION
20. Is a process in place for the ADRE required course evaluation form to be distributed to students and collected at the end of the
course just before the completion certificate is issued? Yes No
ADRE required Course Evaluation Form (click here)
SECTI
ON VII –COURSE COMPLETION CERTIFICATE
21. Is the ADRE Course Completion Certificate requirement satisfied? See Instructions – (click here) for certificate Yes No
SECTION VIII – REMOTE CLASSROOM
12. Enrollment Agreement or Application. At time of enrollment will each prospective student be presented with
an enrollment agreement or application for review and signature which includes: 1) the course or course segment title
within a curriculum; 2) ADRE course number; 3) the ADRE course total credit hours applicable to licensure; 4) cost
of the course; 5) refund policy; 6) a list of any/all required course material, with information on the accessibility and/or
required cost of the material; 7) course completion requirements; 8) policies regarding attendance and behavior;
9) topical outline; 10) learning objectives; and 11) and a statement of any job placement service? Yes No
A.A.C. R4-28-404(E)
13. Instruction Methods (Check all that apply) Lecture Interactive Discussion Role Play Simulation
Group Exercise Quiz Quiz Review Vocabulary Review Math Exercises Other (Describe in outline)
In addition to lecture, are at least 2 instruction methods planned for each credit hour? Yes No
14. Teaching Aids (Check all that apply) Text(s) PowerPoint Flip Chart/Whiteboard Quiz Internet/Software
Handout(s) DVD/Video Total Class%______ Other (Describe):
15. Teaching Materials Is a statement attached listing all teaching materials, and/or aids used, including any student
handouts and textbook titles and confirming adherence to any applicable copyright laws, and that any/all required
permissions have been obtained. Yes No
16. Is student required to pass a comprehensive school test (examination on the course) according to application
requirements to receive credit? Yes No
a. A copy of test with answer key attached? Yes No
17. Is the pass rate for the comprehensive test at least 75%? Yes No
18. Are there at least 150 questions on the comprehensive test, with a question bank of at least a 2X1 ratio? Yes No
22. Host/Remote Location: Are prelicensure education classes delivered by a live instructor from a host classroom to
remote classrooms through synchronous delivery platforms with real time audio and video, such as satellite
broadcasting or third party technology facilitators (i.e., Webex, GoToMeeting, NEFSIS)? Yes No N/A
23. Host/Remote Class Location Requirements (a through f below)
a. Host/Remote classes will be held in a classroom facility that meets ADRE classroom criteria/guidelines as defined
in rule, statute or policy and will comply with applicable local, state and federal regulations regarding safety, health,
and disabilities? Yes No N/A
b. Host/Remote classrooms have a synchronized platform, which includes bi-directional audio and video
communication between the classrooms? Yes No N/A
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Page 3 of 32
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
SECTI
ON IX - CLASS LOCATION
24. Class Location: Date:__________ Time:
Each course event requires a separate 14 day notice pursuant to A.R.S. §32-2135(G)(1).
This application does not serve as the required 14 day notice [A.R.S. §32-2135(G)(1)] visit www.azre.gov to submit notice through the ADRE
online Real Estate School System. This application does not serve as notice for a course to be held outside of Arizona [A.R.S. §32-2135(I)]. Contact
ADRE to submit written request.
SECTI
ON X – INSTRUCTOR ATTESTATION
25. By my signature below, I attest that I have reviewed the entire course and material and the course is accurate, specific to
Arizona, timely, relevant, and does not contain any information that is not applicable in Arizona and is in accordance with all
applicable Arizona statutes and rules. (If more than one instructor, attach a separate attestation for each additional instructor)
I will maintain a current ADRE Pre Licensure Instructor license during all times of instruction.
Instructor Name (print):
Instructor Signature: Date:
SECTI
ON XI – SCHOOL ADMINISTRATOR ATTESTATION
26. School Administrator Attestation (upon School Administrator severance from school, a new Attestation shall be signed)
By my signature below I attest that I have thoroughly read and reviewed and hereby approve of the submitted course
application, including the application requirements, the outline and all other course materials. I have further thoroughly
reviewed and approve each proposed instructor’s qualifications and credentials. I will be responsible for ensuring that the
course is presented by the School in the manner stated in this application. I understand the potential penalties pursuant to
A.R.S. §§32-2135(C) and 32-2153(A)(26)
. I attest that:
• The course content adheres to A.R.S §§ 32-2124, 32-2135, the requirements of the Application and the ADRE Detailed
Instructor Outline Prescribed Curriculum - Broker’s License, and that the course content is intended to prepare the
student with the appropriate knowledge and understanding of real estate practices and principles in the real estate
profession, as well as protecting the public interest.
• The course content is appropriate for professional real estate education, reflects current Arizona real estate practices
or methods, is consistent with the proposed instructional materials and can be taught in the allotted time as stated in
the application.
• Each named proposed instructor for this course is knowledgeable and is a subject matter expert in the prelicensure
curriculum, and is, and will be an ADRE-approved pre-licensing instructor at the time of presentation.
• The course content is, and will remain current, accurate, specific to Arizona, timely, relevant, and in accordance with
all applicable Arizona statutes and rules;
• The course will be updated, or rewritten as necessary during the four (4) year course approval period.
• All instructional materials used by students reflect accurate and current content according to Arizona real estate
practice, and contain no significant errors, in content, typography or grammar, and adhere to all copyright
requirements.
• I further understand that “The course may not be taught if the content ceases to be current or is substantially
changed.” A.R.S. §32-2135(F)
.
I have a full understanding, that should there be any proven misrepresentation, or willful omission in this application, or any
of the attachments, any approval, which may have been granted, is subject to suspension or revocation, and disciplinary action
could occur.
Administrator Name (printed): Title:
Administrator Signature: Date:
c. Remote classrooms have an onsite monitor in the classroom to monitor attendance and student engagement
activities and follow prescribed guidelines? Yes No N/A
d. Host classroom is administered by a live instructor? Yes No N/A
e. Course administrator is able to visually monitor the remote classrooms? Yes No N/A
f. Course contains student-instructor interactivity and allows for students to view material and ask questions to
the instructor (i.e. via email, chat or VoiP, phoneline, or other electronic means)? Yes No N/A
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Page 4 of 34
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
SECTION XII – 90 HOUR BROKER PRE-LICENSE COURSE OUTLINES*
27. Is a copy of the School’s Official Detailed Broker Pre-License Course Outline included with this Application? Yes No
28. Does the submitted School’s Pre-License Course Outline contain all of the mandatory content in the
ADRE Detailed Instructor Outline Prescribed Curriculum Broker’s License? Yes No
29. Does the School’s Pre-License Course Outline contain the nature of each subject matter and each specific topic,
according to the ADRE Detailed Instructor Outline Prescribed Curriculum? Yes No
30. Does the School’s Pre-License Course Outline contain specific time allocations and placement in course for each
topic, and divided into estimated fifty minute instructional segments? Yes No
31. Does the School’s Pre-License Course Outline contain topic placement within the instruction? Yes No
32. Does the School’s Pre-License Course Outline contain a desired instruction outcome stating the relevant and
unique proposed course learning objective for each instructional segment? Yes No
33. Does the School’s Pre-License Course Outline contain the teaching method(s) applied? Yes No
34. Complete the following outline matrix in SECTION XIII below which includes the ADRE Detailed Instructor Outline Prescribed
Curriculum Broker’s License content in the left column. Be sure to include the approximate time for each topic, page and item number
of corresponding item on school prelicense course outline, learning objectives, and teaching methods in the appropriate columns.
COMPLETE D
ETAILED BROKER PRELICENSE COURSE OUTLINE AND REFERENCE INFORMATION
MATRIX IN NEXT SECTION (XIII)
Note: TIME GUIDE and OBJECTIVE information is only required for each Subject Matter Topic (Nos. 1.-31.) in the
Matrix and is not necessary for each Subtopic item.
Schools
may attach additional information in the form of an addendum that specifically lists numbered Objectives and
Teaching Methods and reference one or more Objectives or Teaching Methods by number in the detailed outline for this
Section.
Teachi
ng Methods Reference Key
1. Text
2. Graphics
3. Audio
4. Photos
5. Video
6. Interactivity
7. End-of-Module Quizzes
8. Other (Describe in outline)
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SUBJECTMATTER TIMEGUIDE
PAGE&ITEMNO.OF
CORRESPONDINGITEMON
SCHOOLCOURSEOUTLINE
OBJECTIVE
(Studentwillbeableto…) TEACHINGMETHODS
1. SourcesofRealEstateLaw&Polic
y
ArizonaConstitution
ArizonaRevisedStatutes(e.g.,ARS32‐2101)
FederalStatutes
Commissioner’sRules(ArizonaAdministrativeCodee.g.,
R4‐28‐1101A)
ADRESubstantivePolicyStatements(SPS)
CourtCases(CaseLaw)Summariesattached,arepartof
thiscurriculumandmaybeusedincourse.
1.1.Article26,ArizonaConstitution
1.1.1.CaseLaw:StateBarofArizonavArizonaLandTitle
&TrustCo.
1.2.ArizonaRealEstateStatutes(Title32,Chapter20)
1.2.1.Article1:RealEstateDepartment
1.2.1.1.Definitions
1.2.1.1.1.RealEstateBroke
r
1.2.1.1.2.RealEstateSalesperson
1.2.1.2.RealEstateCommissioner
1.2.1.2.1.Powers/DutiesoftheCommissione
r
1.2.2Article2:Licensing
1.2.2.1.ExemptionstoLicensing(ARS32‐2121)
1.2.2.2.BrokerandSalespersonrequirements(ARS32
‐
2123,ARS32‐2124,ARS32‐2125,ARS32‐2125.01,32‐
2125.02)
1.2.2.3.Placeofbusinessrequired(ARS32‐2126
)
1.2.2.4.Branchofficerequirements(ARS32‐2127)
1.2.2.5.Broker’stemporaryabsence(ARS32‐2127D)
1.2.2.6.Activev.inactivestatus
1.2.2.7.Displayoflicense(ARS32‐2128)
1.2.2.8.Multiplelicenses(ARS32‐2125.01)
1.2.2.9.RenewalofLicense(ARS32‐2130)
1.2.2.10.TemporaryBroker'slicense(ARS32‐2133)
1.2.3.Article3:Regulation
1.2.3.1.Dispositionoffunds(ARS32‐2151)
1.2.3.2.Brokerrequirements;Recordkeeping(ARS32
‐
2151.01,SPS2005.06,2010.01)
1.2.3.3RealEstateEmploymentAgreements(ARS32‐
2151.02)
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
Page 5 of 34
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SUBJECTMATTER TIMEGUIDE
PAGE&ITEMNO.OF
CORRESPONDINGITEMON
SCHOOLCOURSEOUTLINE
OBJECTIVE
(Studentwillbeableto…) TEACHINGMETHODS
1.2.3.4.Actiontocollectcompensation(ARS32‐2152)
1.2.3.5.Groundsfordenial,suspensionorrevocationof
licenses(ARS32‐2153)
1.2.3.6.ConsentOrders,Cease&DesistOrders(ARS32
‐
2153.01&32‐2154)
1.2.3.7.Restrictiononemploymentorcompensation
(ARS32‐2155)
1.2.3.7.1.Brokertoemployandpayonlyactivelicensee
s
1.2.3.7.2.Unlawfultopayunlicensedperso
n
1.2.3.7.3.Nocompensationfornegotiatingloans
1.2.3.7.4.Payingcommissionafterlicenseexpirationor
transferofemployment(SPS2005.08)
1.2.3.8.RealEstatesalesandleasedisclosurelaw
(StigmatizedpropertylawARS32‐2156)
1.2.3.8.1.CaseLaw:LernervDMBRealt
y
1.2.3.9.Out‐of‐statebroker,cooperationagreement(ARS
32‐2163)
1.2.3.10.Unlicensedactivities(ARS32‐2165)
1.2.3.11.RealEstateTeams/Groups
1.2.3.11.1.Employee(s)ofBrokerorSalesperson(ARS32
‐
2121(A)9)
1.2.3.11.2.UnlicensedAssistants(SPS2017.01
)
1.2.4Article3.1PropertyManagement
1.2.4.1.PropertyManagementAgreements(ARS32
‐
2173)
1.2.4.2.Licenseesactingasapropertymanageroutsideof
brokeragecompany
1.2.4.3.Unlicensedpersonsperformingproperty
management
1.2.4.4.PropertyManagementAccounts(ARS32‐2174)
ADREDetailedInstructorOutline&Prescribed90Hour
Broker'sLicenseCurriculum7
1.2.4.5PropertymanagementRecords;Requirements;
Audits(ARS32‐2175,SPS2013.01)
1.2.5.Article4:SaleofSubdividedLand
s
1.2.5.1.Definition(ARS32‐2101)
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
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SUBJECTMATTER TIMEGUIDE
PAGE&ITEMNO.OF
CORRESPONDINGITEMON
SCHOOLCOURSEOUTLINE
OBJECTIVE
(Studentwillbeableto…) TEACHINGMETHODS
1.2.5.2.NoticetoCommissionerofIntenttoSubdivide
(ARS32‐2181)
1.2.5.2.1.PublicReportRequirements(ARS32‐2181A)
1.2.5.2.2.RequirementsinAMA(ARS32‐2181C)
1.2.5.2.3.UnlawfultoActinConcert(ARS32‐2181D)
1.2.5.2.4.Acquisitionof6ormoreparcelsinexisting
subdivisionthroughforeclosurenotexemptfrompublic
reportrequirement(ARS32‐2181E2)
1.2.5.2.5Exemptions(ARS32‐2181.02)
1.2.5.2.5.1.BulkSale
s
1.2.5.2.5.2.160Acresormore
1.2.5.2.5.3.Commercial/Industrial
1.2.5.2.5.4.Subsequentownerexemptio
n
1.2.5.2.6.LotReservations(ARS32‐2181.03)
1.2.5.3.RescindableSales:(ARS32‐2183I)
1.2.5.3.1.PublicReportReceiptfrombuye
r
1.2.5.4.AmendedPublicReport(ARS32‐2184)
1.2.5.5.SaleofUnimprovedParcels(ARS32‐2185.01)
1.2.5.5.1.Definition(ARS32‐2101)
1.2.5.5.2.RightstoRescind(ARS32‐2185.01D&E
)
1.2.5.6.AffidavitofDisclosure(ARS33‐422)
1.2.5.6.1.Applicableproperties&requirement
s
1.2.5.6.2.Timeframesfordeliveryandrighttorescind
1.2.5.6.3.CaseLaw:VermavStuh
r
1.2.6Article5:RealEstateRecoveryFund
1.2.5.1.Definition
1.2.5.2.Processandprocedure
s
1.2.5.3.Fundliabilit
y
1.2.5.4.Eligibleparties
1.2.5.5.Fundin
g
1.2.7.Article7:SaleofUnsubdividedLand
1.2.7.1.Definition(ARS32‐2101)
1.2.8.Article9:RealEstateTimeshares
1.2.8.1.Definition(ARS32‐2101)
1.2.8.2.Timesharepublicreportrequirement
s
1.2.8.3.Rescissionofcontractoragreement
1.2.8.4.Advertisingandpromotionalrequirement
s
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
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SUBJECTMATTER TIMEGUIDE
PAGE&ITEMNO.OF
CORRESPONDINGITEMON
SCHOOLCOURSEOUTLINE
OBJECTIVE
(Studentwillbeableto…) TEACHINGMETHODS
2. Commissioner’sRules
2.1.Article3:Generallicenserequirements
2.1.1.Departmentnotification
2.1.2.EmployingBroker,Soleproprietors,
2.1.3.Corporations,LimitedLiabilityCompanies
2.1.4.Renewal,reinstatement,change
s
2.1.5.ProfessionalCorporations,Professional
2.1.6.LimitedLiabilityCompanies
2.1.7.Branchoffices,managers
2.1.8.Unlawfullicenseactivity
2.2.Article4:Education
2.2.1.ContinuingEducationRequirements(R4‐28‐402A)
2.2.2.BrokermanagementClinics(ARS32‐2136)
2.3.Article5:Advertising
2.3.1.AdvertisingbyLicensee(R4‐28‐502asdefinedin
ARS32‐2101(2))
2.3.1.1.Noblindads(R4‐28‐502A)
2.3.1.2.“OwnerAgent”requirement(R4‐28‐502B
)
2.3.1.3.AccurateClaims(R4‐28‐502C)
2.3.1.3.1.CaseLaw:BarnesvLope
z
2.3.1.4.Broker’snameinclearandprominentmanner
(R4‐28‐502E,SPS2007.18)
2.3.1.5.Advertisinganotherbroker’slisting(R4‐28‐502F)
2.3.1.6.DesignatedBrokershallsupervisealladvertising
(R4‐28‐502G)
2.3.1.7.Advertisingtheterm"acre"(R4‐28‐502H)
2.3.1.8.Writtenconsenttoplacesign(R4‐28‐502I)
2.3.1.9.TradeNames(R4‐28‐502K)
2.3.1.10.InternetAdvertising(R4‐28‐502L)
2.3.2.PromotionalActivities(R4‐28‐503)
2.3.2.1.Premiumstoclientsnot“award”or“prize”
2.3.2.2.Disclosureoftermsforpremiums
2.3.2.3.Lotteries,drawingsorgamesofchance
prohibited
2.3.2.4.Exceptionforsubdividersandtimeshare
developers
2.4.Article7:CompensationSharingDisclosure
2.5.Article8:Documents
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(Studentwillbeableto…) TEACHINGMETHODS
2.5.1.ConveyanceDocuments(R4‐28‐802)
2.5.1.1.Copiestosignersassoonaspractical
2.5.1.2.Submissionofoffers
2.5.1.3.Brokertoretaincopiesofescrowclosing
statements
2.6.1.DutiestoClient(R4‐28‐1101A)
2.6.2.DisclosureofMaterialFacts(R4‐28‐1101B)
2.6.2.1.CaseLaw:
2.6.2.1.1.LombardovAlbu
2.6.2.1.2.DevelopmentCorporationvPimaCapital
Management
2.6.2.1.3.MammasvOroValleyTownhouses
2.6.2.1.4.ArankivRKPRealt
y
2.6.2.1.5.EastonvStrassburge
r
2.6.2.1.6.HillvJones
2.6.3.Performactsexpeditiously(R4‐28‐1101C)
2.6.4.Controversiesbetweenlicensees(R4‐28‐1101D)
2.6.5.DisclosureofConflictsofInterest(R4‐28‐1101E)
2.6.6.DualCompensation(R4‐28‐1101F)
2.6.7.AcceptingAdditionalCompensation(R4‐28‐1101G)
2.6.8AreasofExpertise(R4‐28‐1101H)
2.6.9Exercisingreasonablecare:R4‐28‐1101I
2.6.10ProhibitionagainstPermittingOccupancywithout
Permission&DeliveringPossessionPriortoClosing(R4‐
28‐1101J)
2.6.11.RecommendingProfessionalAssistancetoClients
rePre&PostPossession(R4‐28‐1101K)
2.7.PropertyNegotiation(R4‐28‐1102)
2.8.BrokerSupervision&Control(R4‐28‐1103A‐G)
2.8.1.EstablishmentofWrittenPolicies&Procedures
2.8.2.MonitoringCompliance
2.8.3.DesignatedBrokertoExerciseReasonable
SupervisionoverAllActivities
2.8.4.EmployingBrokerResponsibleforAllActs
2.8.5.DesignatedBrokerMayNotRelinquishControl
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(Studentwillbeableto…) TEACHINGMETHODS
2.8.6.NoDisciplinaryActionifLicensees’Violations
Reported
2.8.7.PolicyManualException
3. AgencyRelationshipsandManagerialDuties
3.1.LawofAgenc
y
3.1.1.Typesofagents
3.1.1.1.Special
3.1.1.2.General
3.1.1.3.PowerofAttorneyandAttorneyinFact
3.1.1.4.Durablepowerofattorne
y
3.2.AgencyRelationships
3.2.1.DualAgenc
y
3.2.1.1.Disclosure&ConsenttoLimitedRepresentation
32.21.2.Owner/agent&self‐dealingconflictsofinterest
3.2.2.SingleAgenc
y
3.2.3.Sub‐Agenc
y
1.2.3.1.Senarios
3.2.3.1.1.Delegationofauthoritytootherdesignated
brokerduringtemporaryabsence
3.2.3.1.2.Vacationingsalespersonauthorizeslicensee
fromothercompanyhandletransactions
3.2.3.1.3.Licenseechangesbrokeragesbutcontinuesto
serviceformercompany'stransactions
3.2.4.Agencyprinciples
3.2.4.1.Vicariousliability(RespondeatSuperior)
3.2.4.2.Imputednotice
3.3.FiduciaryDuties
3.3.1.Definitions
3.3.2.Obligations
3.3.3.Requirements
3.3.4.BreachofFiduciaryDutyExamples
3.3.5.CaseLaw:HoriikevColdwellBanke
r
3.4.MisrepresentationandFraud
3.4.1.Definitions
3.4.2.Dutytodisclose
3.4.3.Puffing
3.5.CreatinganAgencyRelationship
3.5.1.Expressed
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3.5.1.1.Written
3.5.1.2.Oral
3.5.2.Implied
3.6.TerminatinganAgencyRelationship
3.6.1.Conditionalrelease
3.6.2.Unconditionalrelease
3.7.RealEstateEmploymentAgreements
3.7.1.StatutoryDefinition(A.R.S.32‐2151.02(E),ARS44
‐
101)
3.7.2.StatutoryRequirements(A.R.S.32‐2151.02(A)
)
3.7.3.Listings
3.7.3.1.OpenListin
g
3.7.3.2.ExclusiveAgencyListin
g
3.7.3.3.ExclusiveRighttoSellListin
g
3.7.3.4.MultipleListingService
s
3.7.3.4.1.FullService
3.7.3.4.2.Limitedservices
3.7.3.5.Netlistings
3.7.3.6.PocketListings
3.7.3.7."ComingSoon"Listin
g
3.7.3.7.1.DutiesofSeller’sAgen
t
3.7.3.7.2.Buyer’sofferonaComingSoonListin
g
3.7.3.8."Exclusive"Listin
g
3.7.3.8.1.Nobrokercooperation
3.7.3.8.2.Dutiesofseller'sagen
t
3.7.3.8.3.Compensationtobuyer'sagen
t
3.7.3.9.WorkingwithaForSalebyOwne
r
3.7.3.9.1.Listingv.UnrepresentedCompensation
Agreement
3.7.4.BuyerBrokerAgreements
3.7.4.1.Importanceofbrokerrecordkeepin
g
3.7.4.2.CaseLaw:YoungvRos
e
3.7.5.CompensationandCo‐brokerage
3.7.5.1.Retainerfees
3.7.6.Prohibitionagainstassignment(A.R.S.32
‐
2151.029(B))
3.7.7.Prohibitionagainstadditionalagreementswithout
consent(A.R.S.32‐2151.02(C))
3.8.BrokerageBusiness
3.8.1.CyberCrime
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3.8.2.1.WireFraud
3.8.2.2.IdentityThef
t
3.8.2.3.CyberInsuranc
e
3.8.2.4.Protectiveprocedures
3.8.2.5.CaseLaw:BainvPlatinumRealty,LL
C
4. ContractsandContractLa
w
4.1.Elementsofavalidcontract
4.1.1.Competentparties
4.1.2.Offerandacceptance(andpropercommunication
ofacceptance)
4.1.3.Lawfulpurpose
4.1.4.Consideration
4.1.5.Adequatedescriptionoftheproperty/legal
description
4.1.6.SmartContracts(ARS.44‐7061)
4.1.6.1.Definition
4.1.6.2.Application
4.1.6.3.Legaleffect
4.2.StatueofFrauds(A.R.S.44‐101
)
4.2.1.Subsections5,6&7onl
y
4.3.ElectronicTransactions(A.R.S.44‐7007,ARS44‐7031,
SPS2005.10)
4.4.Bankruptc
y
4.4.1.Impactoncontracts/transactionsandforeclosure
4.4.2.Chapter7,11&13basic
s
4.5.PurchaseContracts
4.5.1.LetterofInten
t
4.5.2.Offer,acceptanceandcommunication
4.5.3.Earnestmone
y
4.5.4.Closeofescrow–actualoccurrence
4.5.5.RiskoflossbeforeC.O.E.
4.5.6.Marketabletitle
4.5.7.“TimeisoftheEssence”
4.5.8.Contingencies
4.5.8.Contracttermination
4.5.9.Presentingoffers
4.5.10.Withdrawingoffers
4.5.11.Counteroffers
4.5.12.Multiplecounteroffers
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(Studentwillbeableto…) TEACHINGMETHODS
4.5.13.Multipleoffersononepropert
y
4.5.14.Multipleoffersondifferentproperties
4.5.15.Back‐upContracts
4.6.ContractInterests
4.6.1.Equitableinteres
t
4.6.2.Nominee
4.6.3.Assignability
4.6.3.1.Restrictions
4.6.3.2.Liability
4.7.Options
4.7.1.MemorandumofOption&recordation
4.7.2.Optionmone
y
4.7.2.1.Taxability
4.7.3.Exercisinganoption
4.7.4.Expiration
4.7.5.Rollingoptions
4.7.6.Terminationoflease‐optionupondefault(Tie‐in)
4.8.RightofFirstRefusal
4.8.1.MemorandumofRightofFirstRefusal&
recordation
4.9.Covenantnottocompete
4.10.Disputeresolution
4.10.1.Mediation
4.10.2.Arbitration
5. PropertyInterests,EstatesandTenancies
5.1.RealProperty
5.1.1.Land
5.1.1.1.Surfacerights
5.1.1.2.Subsurfaceright
s
5.1.1.3.Airrights
5.1.2.Appurtenance
s
5.1.2.1.Improvements
5.1.2.2.Fixture
s
5.1.2.2.1.LegalTest
s
5.1.2.2.2.Ownedv.Leased(SolarSystems
)
5.1.2.3.Bundleofright
s
5.2.PersonalProperty
5.2.1.Billofsale
5.2.2.Tradefixtures
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OBJECTIVE
(Studentwillbeableto…) TEACHINGMETHODS
5.2.3.SecurityagreementsandUniformCommercial
Code(U.C.C.)
5.2.4.ManufacturedHomeSales(newandresale)(A.R.S.
41‐4028)
5.2.4.1.Listingandsellingunaffixedmanufacturedhome
s
5.2.4.2.AffidavitofAffixture(ARS42‐15203)
5.3.RealEstateInterestsandOwnershi
p
5.3.1.ClassificationofEstates
5.3.1.1.Freehold
5.3.1.2.Leasehold
5.3.2.FeeSimpleEstate
s
5.3.3.LifeEstates
5.3.3.1.Reversion
5.3.3.2.Remainde
r
5.4.Easements
5.4.1.Definition
5.4.2.Appurtenan
t
5.4.3.InGross
5.4.4.Prescriptive
5.4.5.Personal(license)
5.4.6.ByNecessit
y
5.4.7.ConservationEasement
5.4.8.ViewEasement
5.5.TypesofTenancies
5.5.1.SoleandSeparat
e
5.5.2.CommunityProperty
5.5.3.CommunityPropertywithRightsofSurvivorship
5.5.4.TenancyinCommon
5.5.5.JointTenancywithRightsofSurvivorship
5.6.OwnershipEntities
5.6.1.LimitedLiabilityCompanies(LLC)
5.6.2.Corporations
5.6.3.Trusts
5.6.4.RealEstateInvestmentTrusts(REITS)
5.6.5.Partnerships
5.6.5.1.Generalpartnershi
p
5.6.5.2.Limitedpartnershi
p
5.6.6.Authorizedsignatoriesforentities
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5.7.Typesofcommonownership
5.7.1.Cooperative
5.7.2.Condominium
5.7.2.1.CondominiumTerminationAct(ARS33‐1228)
5.7.2.1.1.Application
5.7.2.1.2.Percentageofownershiprequire
d
5.7.2.1.3.Terminationofassociation
5.7.2.1.4.Owner'sright
s
5.7.3.PlannedUnitDevelopment(aka:Townhouse
)
6. GovernmentRightsinRealPropert
y
6.1.EminentDomain
6.1.1.CaseLaw:
6.1.1.1.BaileyvCityofMesa
6.1.1.2.KelovNewLondon
6.2.PolicePower
6.3.Escheat
6.4.RealPropertyTaxation
6.4.1.FullCashValue
6.4.2.LimitedPropertyValue
6.4.3.AssessedValue
6.4.3.1.ExistingPropert
y
6.4.3.2.NewHomes&otherpropertyunder
development
6.4.4.AssessedValueRatios(Assessmentrates)
6.4.4.1.Residentialproperty(Class3andClass4
)
6.4.4.1.1.TaxreductionforStateAidtoEducation(Class3
Property)
6.4.4.1.2.Residentialrentalpropertyregistration(A.R.S.
33‐1902)
6.4.4.2.VacantLand(Class2)
6.4.4.2.1.Agriculturalexemption&requirement
s
6.4.4.3.Commercial(Class1)
6.4.5.Calculatingtaxes
6.4.6.AppealingFC
V
6.4.7.Propertytaxliendateandpriorit
y
6.4.8.TaxBillandPayments
6.4.9.CommunityFacilitiesDistricts(A.R.S48‐701)
6.4.10.DelinquentTaxe
s
6.4.10.1.PenaltyInteres
t
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6.4.11.TaxLienAuction(Treasurer’sSale)
6.4.11.1.BiddingProcessandCertificateofPurchase(CP)
6.4.11.1.1.LiveAuction
6.4.11.1.2.On‐LineAuction
6.4.11.2.RedemptionPeriod
6.4.11.3.ForeclosureandTreasurer’sDee
d
6.4.12.SpecialAssessments
6.4.12.1.Government/MunicipalandPriority
6.4.12.2.HomeOwnersAssociation(HOA)Assessmen
t
6.4.12.2.1.Lienpriorit
y
6.4.12.2.2.Minimumrequirementstoforeclose
7. IncomeTaxAspectsofRealEstate
7.1.TypesofIncome
7.1.1.OrdinaryIncome
7.1.2.CapitalGainIncome
7.1.3.PassiveIncome
7.1.4.Incometreatmentforpassthroughentitie
s
7.2.DeductionofTaxesandInterestonPrincipal
Residence
7.2.1.Limitations
7.3.SaleofPrincipalResidence
7.3.1.CapitalGainExclusion
7.3.2.QualifyingParties
7.3.3.Requirements
7.4.InvestmentRealEstate
7.4.1.DeductibilityofExpenses&Interes
t
7.4.2.Depreciation(CostRecovery)
7.4.2.1.Allocatingbasisfordepreciation
7.4.2.2.Recaptureofdepreciationuponsal
e
7.4.3.Investmentrealestatemath
7.4.3.1.Basiscalculation
7.4.3.2.Capitalgaincalculation
7.4.4.TaxDeferredExchanges–BasicConcept
s
7.4.5.Capitallosses
7.4.5.1.Offsetprovisions&carryforward
7.5.Otherincometaxconcepts
7.5.1.Installmentsales
7.5.2.Taxationofmortgageoverbasis
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7.5.3.Taxationofdebtreliefinshortsales
7.5.4.Step‐upinbasisupondeat
h
7.5.4.1.JTWRSvCommunityProperty
7.5.5.OpportunityZones
7.6.Employeev.IndependentContracto
r
7.6.1.Federal&Arizonarequirement
s
7.6.1.1.Withholdin
g
7.6.1.2.FIC
A
7.6.1.3.Workman'scompensation
7.6.1.4.Unemploymentinsuranc
e
7.6.1.5.Reportingincome(W2v.1099)
8. WaterLaw
8.1.DoctrineofwaterlawapplicabletoArizona
8.1.1.RiparianDoctrine
8.1.2.DoctrineofPriorAppropriation
8.1.2.1.Firstintime,firstinrigh
t
8.2.WaterSources
8.2.1.SurfaceWate
r
8.2.2.GroundWate
r
8.2.3.RenewableSource
s
8.2.3.1.CentralArizonaProject(CAP)
8.2.3.2.CentralArizonaGroundwaterReplenishment
District(CAGRD)
8.2.3.3.Effluent
8.3.WaterUsers
8.3.1.Agriculture
8.3.2.Industrial
8.3.3.Domestic
8.3.4.Municipal(cities,towns,waterdistricts)
8.3.5.Privatewatercompanies
8.3.6.Specialusers(golfcourses,lakedevelopments,
recreational)
8.4.ArizonaGroundwaterActof1980
8.4.1.ReasonsfortheAct
8.4.1.1.Overdraft
8.4.1.2.Subsidenc
e
8.4.2.ArizonaDepartmentofWaterResources
8.4.3.ActiveManagementAreas
8.4.4.IrrigationNon‐ExpansionAreas
8.4.5.Grandfatheredrights
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8.4.5.1.Irrigation
8.4.5.2.TypeINon‐irrigation
8.4.5.3.TypeIINon‐irrigation
8.4.6.AssuredWaterSupplyversusAdequateWater
Supply
8.4.7.TransferofWellRights
8.4.7.1.Requirement
s
8.4.7.2.Transferreques
t
8.4.7.3.ExemptWells
8.4.7.3.1.AdjudicationofIndianTribeclaims
8.4.7.4.Wellregistration&research
8.4.7.5.Wellshareagreement
s
8.5.Wetlands
8.5.1.Definition
9. EnvironmentalLaw
9.1.Regulators
9.1.1.EnvironmentalProtectionAgency(EPA)
9.1.2.ArizonaDepartmentofEnvironmentalQuality
(ADEQ)
9.2.EnvironmentalLawsandRegulations
9.2.1.Federal‐ComprehensiveEnvironmentalResponse,
CompensationandLiabilityAct(CERCLA)
9.2.2.State–WaterQualityAssuranceRevolvingFund
(WQARF)
9.3.CommonIssues
9.3.1.Mold
9.3.2.Radon
9.3.3.Asbestos
9.3.4.Leadpaint–contractrequirement
s
9.3.5.Undergroundstoragetanks(UST
)
9.3.6.SBS(sickbuildingsyndrome)
9.3.7.Pesticidesandfertilizers
9.3.8.Wooddestroyinginsects
9.3.9.Floodhazardarea
s
9.3.10.Expansivesoils
9.3.11.Fissuresasshownonearthfissuremapsissuedby
theArizonaGeologicalSurvey
9.3.12.Radongaspotentialzone
s
9.3.13.SuperfundSitesandWaterQualityAssurance
RevolvingFundSites
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9.3.14.Brownfields
9.3.15.Airports
9.4.DueDiligenceandInformationSource
s
9.4.1.PhaseIAssessmen
t
9.4.2.PhaseIIAssessmen
t
9.4.3.Remediation(PhaseIII)
9.4.3.1.Abatement
9.4.3.2.Managementinplace/encapsulation
9.5.StrictLiabilities
9.5.1.Ownerandoperato
r
9.5.2.Brokers'andagents’disclosure
s
9.5.3.Mitigatingliabilitybeforeremediation
9.6.EnvironmentalBuildingCertifications
9.6.1.LEED
9.6.2.EnergySta
r
9.6.AlternativeWasteWaterSystems
9.6.1.ConventionalSeptic
9.6.1.1.Requirementsuponresal
e
9.6.2.Non‐conventionalsystems
9.6.3.Landpercolation
10. LandDescriptions
10.1.MetesandBound
s
10.1.1.Requirements
10.2.RectangularSurveyakaGovernmentSurveyaka
PublicLandSurveySystem(PLSS)
10.2.1.Baseline&Meridian
10.2.2.Townships&Range
s
10.2.3.Correctiontownships
10.2.4.Quadrangles/Check
s
10.2.5.Sections
10.2.6.FractionalSections
10.3.LotandBlock(recordedplat)
10.3.1.PlatofSurve
y
10.3.2.Assessor'sMaps
10.4.Surveys
10.4.1.Boundarysurvey
s
10.4.1.1.Flagcorners
10.4.1.2.Fullsurve
y
10.4.2.ALTASurve
y
10.5.ArticleX‐ArizonaConstitution:StateTrustLand
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(Studentwillbeableto…) TEACHINGMETHODS
10.5.1.Purpose
10.5.2.Howcreated
11. LandDevelopmentandZonin
g
11.1.LandDevelopmen
t
11.2.LandPlanningTerminolog
y
11.2.1.GeneralPlan
11.2.2.MasterPlannedCommunit
y
11.2.2.1.MasterDeed
11.2.3.Setbacks
11.2.4.BufferZones
11.2.5.Zoning/Change
s
11.2.5.1Downzoningissue
s
11.2.5.2.Zoningoverlays
11.2.6.Non‐ConformingUse(grandfatheredrights)
11.2.7.Variances
11.2.8.NaturalAreaOpenSpace(NAOS)
11.2.9.Arizona811(BlueStake)
11.2.10.Buildingenvelope
11.2.10.1.Siteplan
s
11.3.PlannedCommunities
11.3.1.Definition(ARS33‐1802.4)
11.3.2.RequirementsUponResale(ARS33‐1806
)
11.3.2.1.Disclosures
11.3.2.2.Charges/Fee
s
11.4.NewHomeSales
11.4.1.EarnestMoneyTreatment
11.4.2.Representation
12. Encumbrances
12.1.Deedrestrictions/CC&Rs
12.1.1.Forsale/rentsigns(ARS33‐1808(F)
)
12.1.2.SolarExemption(ARS33‐2816)
12.2.Encroachments
12.3.Clouds
12.4.Mechanic'sLiens
12.4.1.Justification
12.4.2.Partieswithlienrights
12.4.2.1.Sub‐Contractorexclusiononowner‐occupied
dwelling
12.4.3.Pre‐LienNotice
12.4.4.Priority
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12.4.5.TimeFrames
12.4.6.LienWaivers
12.4.7.NoticeofCompletionbyeitherparty
12.5.JudgementLien
s
12.5.1.Creation
12.5.2.Recordation
12.5.3.EnforcementandRenewal
12.6.IRSLien
s
12.6.1.Timeframes
12.6.2.Impactonclosing
12.7.PriorityofLiens
12.8.ArizonaHomesteadExemption(ARS33‐1101)
13. AcquisitionandTransferofTitl
e
13.1.MethodsofTransfe
r
13.1.1.Voluntary
13.1.1.1.Dedication
13.1.2.Involuntar
y
13.2.Inheritance
13.2.1.Probate
13.2.2.TestateandIntestat
e
13.3.DeedsofConveyance
13.3.1.Warranty
13.3.2.SpecialWarranty
13.3.3.BargainandSale
13.3.4.QuitClaim
13.4.SpecialPurposeDeed
s
13.4.1.Beneficiary
13.4.2.Disclaimer
13.4.3.Patent
13.5.Deedpartie
s
13.6.Requirementsforvalidityofdeeds
13.7.Notice
13.7.1.Actual
13.7.2.Constructive
13.8.AffidavitofValue
13.8.1.Requirements
13.8.2.Purpose
13.9.AdversePossession
13.9.1.Timeperiods
13.9.2.Tackingconcept
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13.10.TitleInsurance
13.10.1.Owner’sPolicies
13.10.1.1.StandardPolic
y
13.10.1.2.ExtendedCoverag
e
13.10.2.Lender’sPolicies(ALTA)
13.10.3.CommitmentforTitleInsurance(Preliminary
TitleReport)
13.10.3.1.Schedule
A
13.10.3.2.Schedule
B
13.10.4.Subrogation
13.10.5.Hold‐open
13.10.6.Endorsements
13.10.7.Upontransfertocloselyheldentit
y
14. EscrowandSettlement
14.1.Definition
14.2.Parties
14.3.Purpose
14.4.SettlementStatements
14.4.1.DebitsandCredit
s
14.4.2.Samplestatementandworkshee
t
14.5Requirementsfordisbursingcommissionsto
salespersonsandassociatebrokers
14.6.Doubleescrow/simultaneousclosings
14.7.ForeignInvestmentRealPropertyTaxAct(FIRPTA)
(IRSCode4.61.12)
15. FairHousingandAmericanswithDisabilitiesAct
15.1.FairHousingLawsHistor
y
15.1.1.1866CivilRightsAct(U.S.C.14Stat27‐30
)
15.1.2.1968FederalFairHousing(42U.S.C.3601‐3631
akaTitleVIII)
15.1.3.1988Amendments
15.1.4.EqualOpportunityLending–EqualCredit
Opportunity(ECOA)
15.1.5.Steerin
g
15.1.6.Blockbusting
15.1.7.Redlinin
g
15.2.FairHousingEnforcement
15.3.AdvertisingRequirements
15.3.1.Potentialdiscrimination
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15.3.1.1."CompanyExclusive"or"Pocket"listings
15.3.1.2.Throughsocialmedia
15.4.PotentialConflicts
15.4.1.ArizonaResidentialLandlordandTenantAc
t
15.4.2.DeedRestrictions
15.4.3.Agerestricteddevelopment
s
15.4.4.Grouphomes
15.5.AmericanswithDisabilitiesAct(42Chapter26
U.S.C.Chapter2612101)
16. LeasesandLeaseholdEstates
16.1.TypesofLeaseholdEstates
16.1.1.EstateforYears
16.1.2.EstatefromPeriodtoPeriod
16.1.3.EstateatWill
16.1.4.EstateatSufferance
16.1.5.HoldoverTenancies
16.2.TypesofLeases/PaymentPlans
16.2.1.GraduatedLeas
e
16.2.2.Lease‐option
16.2.3.PercentageLeas
e
16.2.4.NetLease(triplenet)
16.2.5.GrossLease
16.2.6.GroundLease
16.2.7.SaleandLeasebac
k
16.3.AssignmentandSubleasin
g
16.3.1.Definitionsandpartie
s
16.3.2.ContractRent
16.3.3.PositiveLeasehold
16.3.4.ExcessRents
16.3.5.EconomicRent
16.3.6.NegativeLeasehold
16.3.7.Liabilities
16.4.LeaseTermination
16.4.1.Actualeviction
16.4.2.Constructiveeviction
16.4.3.Destructionofthepropert
y
16.4.4.Eminentdomain
16.4.4.1.Condemnationclause
16.4.4.2.Tenant'srightsundereminentdomai
n
16.4.5.Surrenderandacceptanc
e
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16.4.6.Foreclosure
16.4.6.1.ResidentialTenants’RightsafterForeclosure
(ProtectingTenantsatForeclosureActof2018)
16.4.6.2.Effectofleasesubordinationonlandlord'sor
tenant'srights
16.4.7.Partiesrights/obligationsatterminationof
commercialleasevs.residentiallease
16.5.Section8housin
g
16.6.ShortTerm/VacationRentals
17. CommercialLeasing&BuildingTerminolog
y
17.1.Tenantimprovements
17.2Buildingshell
17.3CertificateofOccupancy
17.4CommonAreaMaintenance(CAM)charges
17.5.Expensestop
17.6.Turnkeyproject
17.7.Anchortenant
17.8.Estoppeluponrefinanceorsale
17.9.Subordinationuponrefinanc
e
17.10.Full‐servicelease
17.11.Loadfactor
17.12.Rentablesquarefootage
17.13.Calculatingfreerentperiod
17.14.Forcemajeure
17.15.CommercialRealEstateBrokerLiens(ARS33‐
1071)
17.15.1.Application
17.15.2.Commissionagreementrequirements
17.15.3.Preliminarynoticerecordation
17.15.4.RecordingNoticeofBrokerLien
17.15.5.Enforcementoflien
17.16.BuildingClassifications:A,B,C
17.17.As‐Built
17.18.BigBox
17.19.Build‐out
17.20.Concessions
17.21.EndCap
17.22.Hardcorne
r
17.23.Parkingratio
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17.23.PowerCente
r
17.24.Stripcente
r
17.25.Sub‐Market
18. ArizonaResidentialLandlordandTenantAct(A.R.S.
Title33Chapter10)
18.1.GeneralProvisions
18.1.1.PurposesandApplicabilit
y
18.1.2.Exclusions
18.1.3.Discriminationagainsttenantswithchildren
prohibited
18.1.4.EarlyTerminationforDomesticViolence
18.1.5.BedbugControl,LandlordandTenantobligation
s
18.2.LandlordObligations
18.2.1.SecurityDeposits
18.2.1.1.Limitations
18.2.1.2Refundablev.Non‐refundabl
e
18.2.1.3.Move‐inandmove‐outinspections
18.2.1.4.Applicationuponterminationandaccountin
g
18.2.1.5.Landlord’sfailuretocomplyanddamage
s
18.2.2.DisclosureandTenderofwrittenagreemen
t
18.2.2.1.Disclosureofmanagerandownerorowner’s
rep
18.2.2.2.AvailabilityofAZResidentialLandlordand
TenantAct
18.2.3.MaintainFitPremises
18.3.TenantObligations
18.3.1.MaintainDwellingUni
t
18.3.2.FollowRulesandRegulation
s
18.3.3.Accessandnoticebylandlord
18.4.Remedies
18.4.1.Non‐compliancebyLandlord
18.4.1.1.Violationofhealthandsafet
y
18.4.1.2.Otherviolations
18.4.2.Self‐helpforminordefects
18.4.3.Non‐compliancebyTenant
18.4.3.1.NoticetoTerminateforHealthandSafety
Violations
18.4.3.2.Noticesandtimelines
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18.4.4.Abandonmen
t
18.4.4.1.Definition
18.4.4.2.NoticeandPosting
18.4.4.3.PersonalPropert
y
18.4.5.Distraint
18.4.6.PeriodicTenancy:NoticetoTerminate
19. PropertyInsuranceandWarrantie
s
189.1.PropertyInsurance
19.1.1.Additionalinsured
19.1.2.LossPayee
19.1.3.ClaimsHistory
19.2.HomeWarranty
19.3.NationalFloodInsuranceProgram
19.3.1.ElevationCertificate
19.4.BusinessInsuranc
e
19.4.1.ErrorsandOmissions(E&O)
19.4.1.1.Coverages&exclusions
19.4.2.LiabilityCoverage
19.4.2.1.UmbrellaPolicy
19.4.3.BrokerTailInsurance
20. Appraisal
20.1.Marketvaluev.MarketPricevCost
20.2.SquareFootage
20.1.2.4.1.Livable
20.1.2.4.2.Underroo
f
20.3.AppraisalConceptsandPrinciplesofValue
20.3.1.HighestandBestUs
e
20.3.2.Substitution
20.3.3.SupplyandDemand
20.3.4.ProgressionandRegression
20.3.5Plottage(Assemblage)
20.3.6.Orientation
20.3.7.Externalities
20.3.8.Appreciation
20.3.8.1.EarnedIncremen
t
20.3.8.2.Unearnedincremen
t
20.3.9.Depreciation
20.3.10.Economiclife
20.3.11.Excessland
20.3.12.Value‐in‐Use
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20.4.AppraisalApproaches
20.4.1.Salescomparisonapproachtovalue(marketdata)
20.4.1.1.Collectionandanalysisofdata
20.4.1.2.Adjustmentstocomparables
20.4.2.CostApproachtoValue(AppraisalbySummation)
20.4.2.1.Estimationofsitevalue(landvalue)
20.4.2.2.Estimationofconstructioncosts(buildingcosts)
20.4.2.2.1.ReplacementCos
t
20.4.2.2.2.Reproductioncost
20.4.2.3.Estimationofaccrueddepreciationfromall
sources
20.4.2.3.1.PhysicalDepreciation
20.4.2.3.2.FunctionalObsolescence
20.4.2.3.3.EconomicObsolescence
20.4.3.IncomeApproachtoValue
20.4.3.1.GrossRentMultipliers
20.4.3.2.DirectCapitalization
20.4.4.Reconciliation
20.5.FinancialAnalysis
20.5.1.PropertyIncomeandExpenseTerminolog
y
20.5.2.CapitalizationRates
20.5.3.Cash‐On‐CashReturn
20.6.CompetitiveMarketAnalysis(CMA)
20.7.BrokerPriceOpinion‐ExemptionforRealEstate
Licenses(A.R.S.32‐3602(A))
20.7.1.Prohibitionagainstuseofterm“appraisal”
20.8.AppraisalProcess
20.8.1AppraisalManagementCompanies(AMC)
20.8.2.DrivebyAppraisal
20.8.3.DeskTopAppraisal
20.8.4.AutomatedValuationModels
20.9.AppraisalReports
20.9.1.UniformResidentialAppraisalReport(URAR)
Overview
20.9.2.Narrativeappraisal
20.9.3.Appraisalreconsiderations
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21. PrimaryandSecondaryMarkets/FinancingConcept
s
21.1.PrimaryLenders
21.1.1.MortgageBankersandBroker
s
21.1.2.LifeInsuranceCompanie
s
21.1.3.CreditUnions
21.1.4.PrivateInvestors(HardMoneyLenders
)
21.1.5.PortfolioLenders
21.2.SecondaryMortgageMarket
21.2.1.FannieMae(FNMA)
21.2.2.FreddieMa
c
21.2.3.GovernmentNationalMortgageAssociation
(GNMA)
21.2.4.EstoppelCertificate
21.2.5.LoanServicin
g
21.3.LoanClauses
21.3.1.Acceleration
21.3.2.Alienation(DueonSale)
21.3.3.Release(PartialRelease)
21.3.4.Subordination
21.3.5.Prepayment(YieldMaintenance)
21.3.6.Non‐disturbance
21.3.7.Non‐recourse
21.3.8.Personalguarantee
21.3.8.1.Carve‐out
21.3.9.AssignmentofRents
21.4.10.Cross‐collateralization
22. ResidentialFinancingandCommercialFinancin
g
22.1.FHAFinancin
g
22.1.1.LenderRequirement
s
22.1.2.TypesofProperties
22.1.3.MortgageInsurancePremium(MIP)
22.1.4.ConditionalCommitmentandAmendatoryClause
22.1.5.AdvantagesandLimitations
22.2.VAFinancing
22.2.1.LenderRequirement
s
22.2.2.TypesofProperties
22.2.3.FundingFe
e
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22.2.4.CertificateofReasonableValue
22.2.5.EligibilityandEntitlement
22.2.6.AdvantagesandLimitations
22.3.U.S.DepartmentofAgriculture(USDA)Financin
g
22.4.ConventionalLoans
22.4.1.TypesofProperties
22.4.2.Advantagesandlimitations
22.4.2.1.ConformingLoan
22.4.2.2.Non‐conforming/Jumbo
22.4.2.3.SubprimeLoan
22.4.3.PrivateMortgageInsurance(PMI)
22.5.SellerFinancin
g
22.5.1.ConsumerCreditTransactionv.Non‐Consumer
CreditTransaction
22.6.TruthinLendingAct(RegulationZ
)
22.6.1.PurposeandApplication
22.6.2.AnnualPercentageRate
22.6.3.TriggerTermsandFullDisclosure
22.7.RealEstateSettleProceduresAct(RESPA)
22.7.1.PurposeandApplication
22.7.2.ConsumerFinancialProtectionBureau(CFPB)and
TILA/RESPAIntegratedDisclosure(TRID)LoanEstimate
andClosingDisclosure
22.7.2.1.Triggersrequiringnew3‐daydisclosur
e
22.7.3AffiliatedBusinessArrangements
22.7.3.1.Disclosurerequirement
s
22.7.4.Prohibitionagainstkickbacksandreferralfees
22.8.LoanFeesandInterestRate
s
22.8.1.DiscountPoints/Buydown
22.8.2.OriginationFee
22.8.3.FloatingRate
22.8.4.RateLoc
k
22.8.5.TaxService
22.8.6.UnderwritingFe
e
22.9.LoanQualifications
22.9.1.Pre‐qualifiedvPre‐approval
22.9.2.UniformResidentialLoanApplication(URLA)
FannieMaeForm1003
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22.9.3.TriMergedCreditRepor
t
22.9.4.CreditScore
22.9.5.HomeOwnersAssociationReserveRequiremen
t
22.9.6.LoanFraud
22.9.6.1.Commonredflags
22.9.6.2.ADRESPS2008.0
6
22.10.CommercialFinancing
22.10.1.TypesofLoans
22.10.1.1.Conventional
22.10.1.2.SellerFinancin
g
22.10.1.3.SmallBusinessAdministrationLoans
22.10.1.4.Personalguarantee
22.10.1.5.YieldMaintenance–prepaymentpenalt
y
22.10.1.6.BasisPoints
22.10.1.7.DebtCoverageRatio
22.10.1.8.Mezzaninefinancin
g
22.10.2."CrowdFunding"realestateinvestments(ARS44
1844)
22.10.2.1.Definition
22.10.2.2.Typesofproperties
22.10.2.3.Investmentlimitations
23. FinancingDocuments
23.1.PromissoryNotes
23.2.Mortgages
23.2.1.Parties
23.2.2.PayoffandSatisfactionofMortgage
23.3.DeedsofTrus
t
23.3.1.Parties
23.3.2.Equitabletitleandlegaltitle
23.3.3.PayoffandDeedofReconveyance
23.4.AgreementforSale(LandContract)
24. DeedofTrustForeclosur
e
24.1.ForeclosureOption#1:Non‐JudicialForeclosure
24.1.1.RecordationofNoticeofdefaultandTrustee’s
Sale
24.1.2.Partiesrequiredtobenotified
24.1.2.1.RequestforNoticeofSale
24.1.3.Trustor’srightofreinstatement
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24.1.4.Absenceofaccelerationofdebt
24.1.5.MinimumtimepriortoTrustee’sSale
24.1.6.Trustee’ssaleandbiddingproces
s
24.1.7.DeliveryofTrustee’sDeed
24.1.8.AbsenceofStatutoryRightofRedemption
24.1.9.Rightsofborrowerinpossession
24.1.10.Takinganassignmentofrent
s
24.2.ForeclosureOption#2:JudicialForeclosure
24.2.1.Legalaction,accelerationofdebtandrecordingof
LisPendens
24.2.2.SheriffsSaleandSheriff’sCertificate
24.2.3.StatutoryredemptionperiodandSheriff’sDee
d
24.3.BiddingProcess
24.3.1.Excessmoneybid
24.3.2.Lender’screditbid
24.3.3.Deficientbid
24.4.DeficiencyJudgments
24.4.1.ArizonaAnti‐DeficiencyStatute(A.R.S.33‐814(G))
24.5.Foreclosurewithmultipleliensonpropert
y
24.5.1.Rightofjuniorlienholdertocuredefaultonprior
liens
24.5.2.Terminationofjuniorlienbyforeclosureofprior
lien
24.6.DeedinLieuofforeclosure
24.6.1.Cancellationofdebt
24.6.2.Acquisitionbylendersubjecttopriorand
subordinateliens
24.6.3.Estoppelagreementindeed‐in‐lieu
24.7.ForeclosureofAgreementforSale(LandContract,
ContractforDeed)
24.7.1.Judicialforeclosure
24.7.2.Forfeiture
24.8.DistressedPropertyTransactions
24.8.1.ShortSale
24.8.2.BankOwnedProperty/REO(RealEstateOwned
)
24.8.3.Forbearance/LoanModification
25. Disclosure/ConsumerProtection
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25.1.ConsumerPrivacyAct
25.2.TelephoneConsumerProtectionAct(DoNotCall)
25.3.Militaryairportsandancillarymilitaryfacilities
25.4.Militarytrainingroutesandrestrictedairspace
25.5.Publicandprivateairports
25.6.FixandFlip
s
25.6.1.Building/fixingforsale(A.R.S.32‐1121(A)5)
25.6.2.DollaramountlimitforUnlicensedContractors
(A.R.S.32‐1121(A)14)
25.6.3.Buildings/Add‐onswithoutPermit(s)
25.6.4.RegistrarofContractors(A.R.S.32‐1103)
25.6.4.1.BuilderRequirement
s
25.7.Anyotherconditionthataffectsthepropert
y
26. Math
26.1.Prorations
26.1.1.Taxes
26.1.2.HomeOwnersAssociationsDues
26.1.3.Rents
26.2AppreciationandDepreciationCalculations
26.3.PropertyTaxCalculations
26.4.SellerNetProceedsCalculations
26.5.LoanInterestCalculations
26.6.AreaandPerimeterCalculations
26.7.CapitalizationCalculations
26.8.CommissionCalculations
26.9.ClosingStatementCalculations
26.10.LTVRatioCalculations
26.10.1.DiscountPoints
26.10.2.OriginationFees
26.11.RemainingBalance
Calculations
26.12.GrossRentMultiplierCalculations
26.13.BasisandCapitalGainCalculations
26.14.DebtCoverageRatioCalculations
27. CooperativeNatureofRealEstate
27.1.ProfessionalAssociations
27.2.ShermanAnti‐TrustAct
27.2.1.Pricefixing
27.2.2.Boycotts
27.2.3.Tie‐inagreements
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SUBJECTMATTER TIMEGUIDE
PAGE&ITEMNO.OF
CORRESPONDINGITEMON
SCHOOLCOURSEOUTLINE
OBJECTIVE
(Studentwillbeableto…) TEACHINGMETHODS
27.2.4.Restraintoftrade
27.3.PartiesRelatedtoaRealEstateTransaction
27.3.1.LicensedContractors
27.3.1.1.RegistrarofContractors
27.3.2.MortgageLoanOriginators
27.3.2.1.ArizonaDepartmentofFinancialInstitution
s
27.3.2.2.NationwideMortgageLicensingSystem
27.3.3.HomeInspectors
27.3.3.1.BoardofTechnicalRegistration
27.3.4.PestControlInspectors
27.3.4.1.PestManagementDivision,Departmentof
Agriculture
28. BusinessAccounting
28.1.FinancialStatements
28.1.1.Balancesheets
28.1.1.1.Totalassets
28.1.1.1.1.Currentasset
s
28.1.1.1.2.Investment
s
28.1.1.1.3.Intangibleasset
s
28.1.1.2.TotalLiabilities
28.1.1.2.1.Currentliabilities
28.1.1.2.2.Longtermliabilities
28.1.1.3.Networth/Bookvalue
28.1.1.4.Shareholder'sequit
y
28.1.1.5.Ratios
28.1.1.5.1.Quickratio
28.1.1.5.2.Currentratio
28.1.1.5.3.Debt‐to‐equityratio
28.1.2.Profit&LossStatement
28.1.2.1.Totalrevenue
28.1.2.2.Costofgoods
28.1.2.3.Grossprofit
28.1.2.4.Expense
s
28.1.2.5.Netprofit
28.1.3.CashFlowStatemen
t
28.1.4.Notestofinancialstatements
28.2.FinancialStatementExample
28.3.Terminology
28.3.1.GAAP
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
Page 33 of 34
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signature
click to edit
SUBJECTMATTER TIMEGUIDE
PAGE&ITEMNO.OF
CORRESPONDINGITEMON
SCHOOLCOURSEOUTLINE
OBJECTIVE
(Studentwillbeableto…) TEACHINGMETHODS
28.3.2.EBITDA
28.3.3.Accountingmethods
28.3.3.1.Cash
28.3.3.2.Accrual
29. ADREAudits
29.1BasicAuditProcess
29.1.1.Signageandlicensedisplay(A.R.S.§32‐2126.B,
A.R.S.§32‐2127.B,A.R.S.§32‐2128
)
29.1.2.Employeefiles(A.R.S.§32‐2151.01)
29.1.3.Broker’soperatingand/orcommissionaccount
(A.R.S.§32.2155,A.R.S.§32‐2163.A&B
)
29.1.4.Broker’sPolicyandProcedureManual(R4‐28‐
1103.A)
29.1.5.DelegationsofAuthorityforBrokerdutiesand
BrokerTemporaryAbsence(A.R.S.§32‐2151.01.G,A.R.S.
§ 32‐2127.D,R4‐28‐304.B)
29.1.6.Sales,Listing,Leasingand/orProperty
ManagementLogs(A.R.S.§32‐2151.01E,A.R.S.§32‐
2175E)
29.1.7.Salesfilesforcompletenessandtimely
documentedbrokerreview(A.R.S.§32‐2151.01
)
29.1.8.Transactionsinwhichlicenseesactedasa
principal(R4‐28‐1101.E)
29.1.9.PropertyManagementAgreements(A.R.S.§32
‐
2173)
29.1.10.BrokerTrustbankaccounts,includingbank
statementsandmonthlytrustaccountreconciliations
(A.R.S.§32‐2151)
29.1.11.ClientandTenantLedgers,LiabilityBalancesand
MonthlyReports(A.R.S.§32‐2175.C)
29.1.12.Checkbookregister(receiptsanddisbursement
journal)(A.R.S.§32‐2151.A.2)
29.1.13.TrustAccountsignaturecards(A.R.S.§32‐2174
)
29.2.BrokerSupervision&ControlAuditDeclaration
29.2.1.Purpose&properinterpretation
29.3.ADREWebsiteAuditDivisionDemonstration
29.3.1.Documentsandlinksreviewanddemonstration
Pre-licensing Education – Broker Live Classroom Course Approval Application, Form ED-112-PE, 7-19-2019
Administrator’s Initials
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click to edit
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ARIZONA DEPARTMENT OF REAL ESTATE (ADRE) PRE-LICENSING EDUCATION (Arizona Department of Real Estate)

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Completed 20 July 2020

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