This restriction assists individuals who wish to remove the Level 1 restriction from their license but have no intention of pursuing the full Level 3 License.
This restriction also assists individuals in cases of perpetuation, allowing a son or daughter to pass the Technical section of the Level 3 class of license without having to pass the Management section at the same time, therefore easing the pressure at a later date.
To qualify for this restriction, an individual must be actively employed holding a RIBO registration restricted to Level 1.
Successful completion of the Level 2 examination does not qualify an individual to be the Principal Broker of a member corporation, partnership or sole proprietorship. The individual will still be under the direction of the Principal Broker of the firm they are employed by.
To qualify as a Principal Broker, the Management examination must be successfully completed.
There is a two year mandatory waiting period from the first registration before the application to write the Management examination can be submitted. It is suggested that all those planning to write the examination carefully review the Standards – Technical.