Georgia Broker Practice Exam

The assertion that a sole proprietorship needs only one broker license is not accurate according to the nuances of business licensing requirements. In Georgia, and generally in many states, while a sole proprietorship may often be simpler in terms of requirements, it does not automatically translate to needing only one broker license.

A sole proprietor in real estate still must hold an active broker's license to operate as a real estate broker and may also be required to obtain additional business licenses depending on the locality's stipulations. These could include a business license from the city or county where they operate, which adds to the complexity of the licensing requirements for a sole proprietorship.

In contrast, the other statements outline typical scenarios accurately. Corporations usually need just one overall business license, partnerships generally operate under a single collective license, and sole proprietorships often still deal with multiple local business licensing requirements. This captures the broader context of licensing requirements, reinforcing that scenario C does not encompass the complete licensing reality for sole proprietorships.