(1) "Accredited college or university" means a state-supported institution of higher education or a nonpublic, not-for-profit college or university currently incorporated and recognized by the Arkansas Higher Education Coordinating Board as an Arkansas independent institution of higher education operating under the applicable laws of this state;

(2) "Administrator" means a person employed by a real estate trade or professional association licensed by the Arkansas Real Estate Commission;

(3) "Approved course" means a course of instruction approved by the commission that satisfies the education requirements for prelicense education, postlicense education, or continuing education for a real estate license;

(4) "Associate instructor" means a person who is licensed by the commission to teach real estate courses while under the supervision of an administrator or principal instructor that satisfy the education requirements for a real estate license;

(5) "Association license" means a license granted by the commission to a real estate trade or professional association offering approved education that satisfies education requirements for a real estate license;

(6) "Branch school" means a school affiliated with a main school to which the commission has issued a school license;

(7) "Classroom course" means a real estate course that:

(A) Is presented at a facility in person by an instructor and attended in person by the student; or

(B) Connects by contemporaneous, two-way audio and visual technology an instructor and a student who are separated by distance;

(8) "Distance education" means a real estate course that is delivered through an electronic medium that allows the instructor and student to be separated by both distance and time;

(9) "Guest speaker" means a person who is not licensed by the commission who teaches a part of a course approved by the commission;

(10) "Instructional site" means a physical place where education courses approved by the commission are conducted apart from the main school or branch school;

(11) "Main school" means an institution or organization that is the primary school location to which the commission has issued a school license;

(12) "Nonqualified offering" means a course in real estate education that has not been approved by the commission but is offered to persons intending to apply for a real estate license;

(13) "Postlicense education" means real estate education required to be successfully completed within a time frame established by the commission after a real estate license is issued;

(14) "Prelicense education" means real estate education required to be successfully completed by an applicant before sitting for the examination for a broker or salesperson license;

(15)

(A) "Principal instructor" means a person who is licensed by the commission for each licensed school that is responsible for the education courses at a main school and the acts necessary to comply with this subchapter and rules enacted by the commission.

(B) A principal instructor may:

(i) Contract with or employ an associate instructor or guest speaker;

(ii) Supervise an associate instructor or guest speaker;

(iii) Submit an education course to the commission for approval;

(iv) Advertise as being engaged in the business of offering real estate education courses; and

(v) Charge tuition and fees for real estate education courses;

(16) "Satisfactory completion" means, as determined by a principal instructor, successful completion of a required course that is approved by the commission;

(17) "School license" means a license granted by the commission to a proprietary education institution offering education courses approved by the commission that fulfill mandatory education requirements for attaining or maintaining a real estate license; and

(18) "Student" means an applicant or licensee who attends real estate education courses approved by the commission.