The four stages of a business cycle. Depending on whom you speak to, the four stages of a business cycle are as follows: 1. The recovery phase or upswing. This is a phase where the economy âtroughsâ out. As the economy recovers from a recession, businesses start building up their stock levels in anticipation of increased sales.
1 Complete 90 hours of pre-licensing education. 2  Not have been convicted of a felony or a crime involving moral turpitude. 3  Not have had a real estate application or license rejected or revoked in any state within the past two years. Show proof of high school graduation or GED. 2  Not have been convicted of a felony or a crime involving moral turpitude. 3  Not have had a real estate application or license rejected or revoked in any state within the past two years.
1 Age â Be at least 18 years of age when applying for a license. 2  Education â Arizona is a non-reciprocal state. 3  Complete 90 hours of âin classroomâ Real Estate Broker pre-licensing education at an approved Arizona real estate school and pass the examination at an ADRE approved real estate school, college or university.riginally licensed individuals in Arizona, who obtained their real estate pre-license education more than 10 years ago, cannot be relicensed in Arizona without a current 90 hours of pre-licensing education and a retake and passing of the Pearson-VUE examination. All other license application requirements must be met.