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New Mexico Real Estate Broker Basics Practice Questions and Answers
New Mexico Real Estate Broker Basics 
Practice Questions and Answers 
Which of the following REQUIRES a real estate license? 
A. Sale of 20 lots in a subdivision by an employee 
B. Three-week rental of a condominium 
C. Sale of time-share units 
D. Sale of more than 20 personally owned properties - Correct Answer ️️ -C. Sale of 
time-share units 
The New Mexico Real Estate Commission may NOT impose 
A. licensing requirements 
B. penalties for Code of Ethics violations 
C. disciplinary penalt...
- Exam (elaborations)
- • 22 pages •
New Mexico Real Estate Broker Basics 
Practice Questions and Answers 
Which of the following REQUIRES a real estate license? 
A. Sale of 20 lots in a subdivision by an employee 
B. Three-week rental of a condominium 
C. Sale of time-share units 
D. Sale of more than 20 personally owned properties - Correct Answer ️️ -C. Sale of 
time-share units 
The New Mexico Real Estate Commission may NOT impose 
A. licensing requirements 
B. penalties for Code of Ethics violations 
C. disciplinary penalt...
New Mexico Broker Exam Questions and Answers
New Mexico Broker Exam Questions and Answers 
Which is FALSE regarding trade names? - Correct Answer ️️ -Associate broker must 
register a trade name 
Duties of broker not required? - Correct Answer ️️ -To attend closings 
What is not a broker relationship? - Correct Answer ️️ -Designated Agency 
Who regulates Septic systems in New Mexico - Correct Answer ️️ -New Mexico 
Environmental Improvement Department 
When is a Septic system required to be inspected and certified? - Correc...
- Exam (elaborations)
- • 3 pages •
New Mexico Broker Exam Questions and Answers 
Which is FALSE regarding trade names? - Correct Answer ️️ -Associate broker must 
register a trade name 
Duties of broker not required? - Correct Answer ️️ -To attend closings 
What is not a broker relationship? - Correct Answer ️️ -Designated Agency 
Who regulates Septic systems in New Mexico - Correct Answer ️️ -New Mexico 
Environmental Improvement Department 
When is a Septic system required to be inspected and certified? - Correc...
New Mexico Broker Basic Exam Questions and Answers
New Mexico Broker Basic Exam 
Questions and Answers 
Which of the following is FALSE regarding trade names? 
-trade names are registered with the commission 
-the brokerage must be conducted from the address as registered 
-associate brokers must register a trade name 
-a qualifying broker may register more than one trade name - Correct Answer ️️ - 
Associate brokers must register a trade name 
All of the following are broker duties EXCEPT 
-honesty 
-disclosure of material facts 
-Attend cl...
- Exam (elaborations)
- • 5 pages •
New Mexico Broker Basic Exam 
Questions and Answers 
Which of the following is FALSE regarding trade names? 
-trade names are registered with the commission 
-the brokerage must be conducted from the address as registered 
-associate brokers must register a trade name 
-a qualifying broker may register more than one trade name - Correct Answer ️️ - 
Associate brokers must register a trade name 
All of the following are broker duties EXCEPT 
-honesty 
-disclosure of material facts 
-Attend cl...
NM broker basics unit 1 quiz - NM real estate license law with 100% Correct Answers
- Package deal
- Exam (elaborations)
- • 3 pages •
NM Real Estate Test Sept. 2024 Questions and Answers
NM Real Estate Test Sept. 2024 
Questions and Answers 
When is the priority of water rights determined? - Correct Answer ️️ -A) When the 
permit is filed with the engineer's office 
Associate Brokers must complete how many hours of continuing education for their 
renewal? - Correct Answer ️️ -C) 36 hours 
Fingerprint results are valid for? - Correct Answer ️️ -D) Not older than 21 days prior to 
application 
All of the following are duties of the New Mexico Real Estate Commission EX...
- Package deal
- Exam (elaborations)
- • 7 pages •
NM Real Estate Test Sept. 2024 
Questions and Answers 
When is the priority of water rights determined? - Correct Answer ️️ -A) When the 
permit is filed with the engineer's office 
Associate Brokers must complete how many hours of continuing education for their 
renewal? - Correct Answer ️️ -C) 36 hours 
Fingerprint results are valid for? - Correct Answer ️️ -D) Not older than 21 days prior to 
application 
All of the following are duties of the New Mexico Real Estate Commission EX...
NM Broker Basics Exam Questions and Answers
NM Broker Basics Exam Questions and Answers 
Licensees have how many days to respond to a complaint by the Real Estate 
Commission? - Correct Answer ️️ -10 days 
The deed has been signed by the grantor - Correct Answer ️️ -Title is said to pass in 
New Mexico when.... 
If a broker has not accounted for a security deposit within the required 30 days, and the 
tenant files suit, what could happen? - Correct Answer ️️ -Pay $250 in damages, pay 
attorney's fees and courts costs, and for...
- Package deal
- Exam (elaborations)
- • 2 pages •
NM Broker Basics Exam Questions and Answers 
Licensees have how many days to respond to a complaint by the Real Estate 
Commission? - Correct Answer ️️ -10 days 
The deed has been signed by the grantor - Correct Answer ️️ -Title is said to pass in 
New Mexico when.... 
If a broker has not accounted for a security deposit within the required 30 days, and the 
tenant files suit, what could happen? - Correct Answer ️️ -Pay $250 in damages, pay 
attorney's fees and courts costs, and for...
New Mexico broker basics final exam questions with 100% correct solutions
New Mexico broker basics final exam 
questions with 100% correct solutions 
Which of the following is false regarding trade names - Correct Answer ️️ -associate 
brokers must register a trade name 
all of the following are broker duties except - Correct Answer ️️ -attend closings 
the duty of honest and reasonable care means - Correct Answer ️️ -Activley applying a 
brokers skill and expertise for the benefit of the client 
who regulates septic systems in new mexico - Correct Answer ...
- Package deal
- Exam (elaborations)
- • 4 pages •
New Mexico broker basics final exam 
questions with 100% correct solutions 
Which of the following is false regarding trade names - Correct Answer ️️ -associate 
brokers must register a trade name 
all of the following are broker duties except - Correct Answer ️️ -attend closings 
the duty of honest and reasonable care means - Correct Answer ️️ -Activley applying a 
brokers skill and expertise for the benefit of the client 
who regulates septic systems in new mexico - Correct Answer ...
New Mexico Broker Basics 2024 Questions and Answers
New Mexico Broker Basics 2024 
Questions and Answers 
Changes or amendments to Commission rules are effective ____ days after notification 
to all active licensees - Correct Answer ️️ -30 
a violation of real estate law or commission rules could be considered a 
_______________ felony - Correct Answer ️️ -4th degree 
a violator of real estate law or comission rules could be subject to __________ 
and/or_____________ - Correct Answer ️️ -18 months imprisonment and/or $5,000 
fine. 
Li...
- Package deal
- Exam (elaborations)
- • 8 pages •
New Mexico Broker Basics 2024 
Questions and Answers 
Changes or amendments to Commission rules are effective ____ days after notification 
to all active licensees - Correct Answer ️️ -30 
a violation of real estate law or commission rules could be considered a 
_______________ felony - Correct Answer ️️ -4th degree 
a violator of real estate law or comission rules could be subject to __________ 
and/or_____________ - Correct Answer ️️ -18 months imprisonment and/or $5,000 
fine. 
Li...
NM Broker Basics Quiz 1 with 100% Correct Answers
NM Broker Basics Quiz 1 with 100% Correct Answers 
What does not requires a real estate license? - Correct Answer ️️ -Sale of 99 lots in a 
subdivision, short term rentals, sale of personally owned property. 
The Real Estate Commission may not impose? - Correct Answer ️️ -penalties for Code 
of Ethics violations 
The Responsibilities of the Real Estate Commission are? - Correct Answer ️️ - 
Enforcing the license law, rules & regulations, refusing a license for cause. 
The governor of...
- Package deal
- Exam (elaborations)
- • 3 pages •
NM Broker Basics Quiz 1 with 100% Correct Answers 
What does not requires a real estate license? - Correct Answer ️️ -Sale of 99 lots in a 
subdivision, short term rentals, sale of personally owned property. 
The Real Estate Commission may not impose? - Correct Answer ️️ -penalties for Code 
of Ethics violations 
The Responsibilities of the Real Estate Commission are? - Correct Answer ️️ - 
Enforcing the license law, rules & regulations, refusing a license for cause. 
The governor of...
NM Broker Basics Unit 1 License Law Questions and Answers
NM Broker Basics Unit 1 License Law 
Questions and Answers 
Members of National Association of Realtors (NAR) - Correct Answer ️️ -Voluntary 
trade organization that licensees may join and subscribe to a specific code of ethics, 
enforce the code, through local boards and associations. 
New Mexico Real Estate Commission has the following requirements - Correct Answer ️️ 
-Consists of 5 members, 4 of which are licensed real estate brokers, residents of the 
state for 3 consecutive years, ...
- Package deal
- Exam (elaborations)
- • 5 pages •
NM Broker Basics Unit 1 License Law 
Questions and Answers 
Members of National Association of Realtors (NAR) - Correct Answer ️️ -Voluntary 
trade organization that licensees may join and subscribe to a specific code of ethics, 
enforce the code, through local boards and associations. 
New Mexico Real Estate Commission has the following requirements - Correct Answer ️️ 
-Consists of 5 members, 4 of which are licensed real estate brokers, residents of the 
state for 3 consecutive years, ...
Xcel Solutions Property & Casualty Exam Questions and Answers
INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
the answers are incorrect
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