Role Central or Peripheral applies to the BLE connection itself. The device in the central role scans, looking for advertisement, and the device in the peripheral role makes the advertisement.
To understand the distinction, imagine that you have an Android phone and an activity tracker that is a BLE device. The phone supports the central role; the activity tracker supports the peripheral role (to establish a BLE connection you need one of each—two things that only support peripheral couldn't talk to each other, nor could two things that only support central).
Role Master and Slave
After a connection is established, the central device performs as a master and periodically polls the peripheral, which executes in slave role.
Before the Test
The BCM20732 does not support Master/Slave scenario. The BCM20736/BCM20737 will support the Master/Slave environment and is supported in the new SDK 2.x.
Read one of the following sessions to understand what are needed to test BLE. iOS device is used in my test. But Android device and Windows 8 PC can do the job as well.