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Define "master key". If you mean a key that will operate all locks/switches the key fits, I have no idea. If you mean can the the cut key be used as a master to make a copy, then yes.
I for some reason thought that the master and valet had a different style of head on the key with the valet being smaller, This key works on everything but the gas door/trunk thing on the lower left side of the dash so I thought it was a master key and was not 100% sure.