Final answer:
The statement is true; occupational licenses require individuals to demonstrate mastery through education or testing to ensure quality in the labor market.
Step-by-step explanation:
The statement "Applicants shall test at a mastery level to receive his/her license" is true. Occupational licenses are a regulatory tool used in the labor market to ensure that individuals have attained a certain level of skill and knowledge in their field. To obtain an occupational license for professions such as doctors, teachers, nurses, engineers, accountants, and lawyers, as well as various other regulated roles, applicants must often demonstrate mastery by completing a specific type of education or passing a certain test. This system ensures that professionals meet the necessary expectations of learning and can maintain a standard of quality within their respective labor markets.