Arizona License Law
The Arizona Sunset Review process, which evaluates state agencies including the ADRE, is designed to:
AAutomatically abolish the ADRE every 5 years
BPeriodically evaluate whether state agencies like the ADRE should continue to exist, be modified, or be abolished✓ Correct
CReview every licensee's conduct annually
DSet ADRE's annual budget
Explanation
Arizona's Sunset Review process (through the Joint Legislative Audit Committee) periodically reviews state agencies to determine whether they are operating effectively and whether their statutory authority should continue, be modified, or be terminated.
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Key Terms to Know
Debt-to-Income Ratio (DTI)
A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
State-Specific Concepts
DRE Regulation
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