ARSD 20:69:04:04. Contents of responsible broker course

The responsible broker course is a course in brokerage. The course must be a minimum of 24 hours long and contain a final examination which demonstrates knowledge of the subject areas. The course must include the following subject areas: (1) Advertising compliance; (2) Brokerage best practices; (3) Business ethics; (4) Business and strategic planning; (5) Compensation planning; (6) Policy review and risk management; (7) State specific contracts; (8) Exit strategies, including selling and transferring of ownership; (9) Human resource essentials, including instruction on the differences between an employee and an independent contractor; (10) Legal issues; and (11) Trust accounting and finance.