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 Education â Arizona is a non-reciprocal state. 2  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. 3  Online education is not approved for pre-licensing education.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.