Final answer:
A licensee can begin conducting real estate business after completing the required training and obtaining the necessary license. They have the right to enter into contracts and assist clients in buying or selling properties.
Step-by-step explanation:
A licensee can begin conducting real estate business after completing the required training and obtaining the necessary license. Once licensed, they have the right to enter into contracts with other parties involving real estate transactions.
For example, a real estate agent can start showing properties to potential buyers, assisting with negotiations, and facilitating the buying or selling process. They can also provide guidance and advice to clients based on their expertise in the real estate market.