In general, to do business as a Licensee, you will want (or will be required) to join the MLS. To join the MLS you have to be a member of your State Association and the NAR (most places). To join these Organizations, you must be sponsored by the Broker who chooses to allow you to hang your License on his/her wall (with your agreement of course).
E&O is typically provided through the Brokerage (though not always); seeing as it protects them more from the mistakes made by you than it actually protects you.
It all flows hand-in-hand. You'll know when it's time to proceed on to the next step. Take care of first things first.
Meanwhile, Good Luck on the Exam.
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Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"