Final answer:
The National Association of Realtors (NAR) is composed of state, regional, and local associations.
Step-by-step explanation:
The statement that NAR is composed of state, regional, and local associations is true.
The National Association of Realtors (NAR) is a trade association composed of multiple levels of associations. It includes state associations, regional associations, and local associations.
For example, at the state level, there are associations such as the California Association of Realtors (CAR), Texas Association of Realtors (TAR), and Florida Realtors Association (FRA). These state associations are further divided into regional associations and local associations, allowing realtors to be part of multiple levels of associations.