Final answer:
A broker with two or more places of business is typically required to hold multiple licenses in order to operate legally in each location. The requirements for obtaining a license may vary between states.
Step-by-step explanation:
If a broker has two or more places of business, they are typically required to hold multiple licenses in order to operate legally in each location. This is because licenses are typically issued by state governments, and each state may have its own licensing requirements.
For example, if a broker has a place of business in State A and another place of business in State B, they would need to obtain a license from the licensing authority in each state. The requirements for obtaining a license may vary between states, but typically involve completing a certain type of education or passing an exam.
By holding the necessary licenses, the broker can demonstrate their competency and adherence to the laws and regulations of each state where they have a place of business.