Here in Minnesota the licenses are actually titled Class "A" Master or Class "A" Journeyman. Class "B" licenses are much more restricted. The state of Minnesota stopped issuing new class "B" licenses a few years back.

The state exams (including the masters) are for the most part purely competancy tests (no business related questions). In order to be in business, you must purchase a contractors license, and either hold a masters license yourself or employ someone who does. In order to purchase a contractor's license you must first provide proof of insurance and hold a $5000.00 bond payable to the state of Minnesota.

I hold both a class "A" master's and a class "A" journeyman's license. Even though I am legally qualified to work on anything, I am by no means a master at everything. Matt