Free New Mexico Real Estate Practice Exam Questions (May 2024) 50+

New Mexico Real Estate Exam

1 / 50

After abandonment, how many days is a property manager or owner required to store personal property of the previous tenant before being able to depose of said personal property?

2 / 50

Is New Mexico a Community Property state?

3 / 50

The New Mexico Real Estate Recovery Fund must be maintained at a maximum balance of what?

4 / 50

How often is continuing education required for New Mexico Real Estate Licensees?

5 / 50

Per New Mexico real estate law, how many days notice must be given on termination of a week-to-week residency?

6 / 50

Members of the New Mexico Real Estate Commission are appointed by who?

7 / 50

The New Mexico Real Estate Recovery Fund must be maintained at a minimum balance of what?

8 / 50

Errors and Omission insurance minimum aggregate limit must cover at least how much?

9 / 50

In terms of financing involved for a real estate purchase, which custom is practiced in New Mexico?

10 / 50

New Mexico Fair Housing and Federal Fair Housing Laws prohibit discrimination against many classes. Which is a protected class?

11 / 50

A person who, for any consideration, is associated directly with a real estate qualifying broker to participate in any activity defined for a real estate broker would be best described as what?

12 / 50

Who funds the New Mexico Real Estate Recovery Fund?

13 / 50

A violation of license law by a licensed individual can result in what?

14 / 50

If an investigation reveals that the complaint does involve a violation of the Real Estate License Law, the New Mexico Real Estate Commission will issue a what?

15 / 50

Under agency law in New Mexico, dual agency is

16 / 50

Errors and Omission insurance deductible shall not be greater than how much?

17 / 50

Of the total New Mexico Real Estate Commission members, how many must be licensed?

18 / 50

To become a Qualifying Broker at a Supervisory level, applicants must have at least how many years of continuous active licensure?

19 / 50

How long must real estate property managers keep records in New Mexico?

20 / 50

Of the total New Mexico Real Estate Commission members, how many must be non-licensed?

21 / 50

New Mexico has a real estate license reciprocity agreement with:

22 / 50

To become a Qualifying Broker at a Non-Supervisory level, applicants must have at least how many years of continuous active licensure?

23 / 50

Is commingling legal in New Mexico?

24 / 50

New Mexico Real Estate Law mandates agents have errors and omissions insurance. What is the purpose of the insurance?

25 / 50

The New Mexico Real Estate Commission may impose a civil penalty on any person who is found guilty of a violation of New Mexico License Law. How much is this penalty?

26 / 50

New Mexico licensees have how many days to notify the commission of an address change?

27 / 50

Claims against New Mexico Real Estate Recovery Fund cannot exceed more than how much?

28 / 50

Errors and Omission insurance minimum amount of coverage must cover at least how much?

29 / 50

A violation of license law by an unlicensed individual can result in what?

30 / 50

New Mexico Fair Housing and Federal Fair Housing Laws prohibit discrimination against many classes. Which is not a protected class?

31 / 50

How long does a broker have to return a license to the New Mexico Real Estate Commission upon request of transfer?

32 / 50

Per the New Mexico Uniform Owner-Resident Relations Act, abandonment is the absence of the resident from the dwelling, without notice to the owner, in excess of how many continuous days?

33 / 50

In New Mexico, the relationship in which the agent is held in a position of special trust and confidence by the principal is called a:

34 / 50

A person or business organization that for any consideration, disposes, acquires, or attempts to acquire any interest in real estate for others, would be best described as what?

35 / 50

Changes or amendments to the New Mexico Real Estate Commission rules are effective within how many days after notification to all active licensees?

36 / 50

When given a Notice of Contemplated Action, a Licensee has how many days to request a hearing?

37 / 50

Which of the following acts is allowed for an unlicensed real estate assistant in New Mexico?

38 / 50

Who administers the New Mexico Real Estate Recovery Fund?

39 / 50

When a brokerage ceases using a trade name, the qualifying broker shall return the qualifying broker’s license and the licenses of all qualifying and associate brokers affiliated with the brokerage to the commission within how many days?

40 / 50

Errors and omission insurance for New Mexico real estate professionals do not cover what?

41 / 50

Who must comply with New Mexico Fair Housing law?

42 / 50

Complaints of violations against the New Mexico Human Rights Act may be filed with the commissioner or with the district court within how many days of the violation?

43 / 50

New Mexico Human rights act differs from the Federal Fair Housing Act because New Mexico Fair housing prohibits discrimination due to which of the following?

44 / 50

Which of the following acts is prohibited for an unlicensed real estate assistant in New Mexico?

45 / 50

New Mexico licensees have how many days to notify the commission of an email address change?

46 / 50

In New Mexico, the amount a broker may charge for a commission is

47 / 50

New Mexico licensees have how many days to respond to a complaint by the Real Estate Commission?

48 / 50

How many members are there in the New Mexico Real Estate Commission?

49 / 50

Generally speaking, per New Mexico real estate law, an owner may increase rent by providing written notice within how many days?

50 / 50

How many hours of continuing education are required for real estate license renewal in New Mexico?

Your score is

Hello, welcome to our New Mexico Real Estate Practice Exam.

This free practice exam is here to help you master the state-specific portion of the New Mexico real estate exam. 
 
In New Mexico, there are 130 questions on the exam (80 national and 50 state). 

For help with the national we have our national practice quiz. That section can be used to study the topics featured on those 80 questions.  

For help with the state portion you're in the right place! This section can be used to study the topics featured on those 50 questions.

The two most effective study tools for the New Mexico state exam portion are using real estate practice exams, and learning New Mexico state-specific license laws.

Our state-specific practice exam is a fantastic tool to help you grasp your state's real estate topics. It works just like the national practice exam and is updated annually. Usually, using the state practice exam is enough for students to grasp the concepts. However, if you want more, the single most important resource out there is the laws they base the questions on. If you haven't looked at your state's Real Estate Statutes or Regulations, it's strongly recommended.

The test makers take snippets of laws applicable to your state and use them for the questions. We use the actual state laws to create our questions, which is why some of the questions may look familiar to you. Some websites and prep providers do not, and that's the secret. You need to know your state's laws. 

Furthermore, It would be best if you read through your laws at least once, and that's the greatest advice we can give you. Trust us, we know it can be very time-consuming, but reading through each one of these will provide you with precisely the information you need to pass. 

Best of luck, reach out if you need anything,

Real Estate License Wizard Team

New Mexico Real Estate Statutes and Regulations

Here is our list of recommended Real Estate Statutes and Regulations you need to know:

NOTE: State websites update semi-frequently, and sometimes their website URLs change. If any of the links posted below do not work, please reach out, and we will update the links promptly. Thank you.


New Mexico Real Estate Exam FAQs

Have a question about the real estate exam? Find the answers to all your real estate license questions here:

What are New Mexico’s Real Estate License Requirements?

Real estate license requirements vary from state to state. Here are New Mexico’s requirements:

  • Must be 18 years or older.
  • Must obtain and submit copy of your own fingerprints.
  • Must complete required state approved pre-licensing courses (30 credit hours).
  • Estimated cost of total fees and license: $365

How Hard is the New Mexico Real Estate Exam?

The real estate exam is a rigorous and challenging test that weeds out those who are not committed to being skilled agents. To pass the exam in New Mexico, with a total of 130 questions (80 national and 50 state), that means the score to pass is 60 for the national and 38 for the state.

How Many Questions Can You Miss on the New Mexico Real Estate Exam?

In New Mexico, you can miss 20 questions on the national and 12 on the state and still pass the real estate exam.

How Many Times Can You Take the New Mexico Real Estate Exam?

There are no limits to the number of times you can take your real estate exam, but it must be passed within 90 days after passing the first section, or you have to retake both.


What Is on the New Mexico Real Estate Exam?

The 130 multiple-choice questions on the salesperson examination cover a variety of topics that are relevant to New Mexico real estate license law. Here are what topics you are expected to know:

New Mexico State Portion:

  1. New Mexico Real Estate Commission
  2. New Mexico Requirements for a License
  3. New Mexico Brokerage Activities and Requirements
  4. New Mexico Fair Housing Law
  5. New Mexico Property Management

New Mexico National Portion:

  1. Property Ownership
  2. Land Use Controls and Regulations
  3. Valuation and Market Analysis
  4. Financing
  5. General Principles of Agency
  6. Property Disclosures
  7. Contracts
  8. Leasing and Property Management
  9. Transfer of Title
  10. Practice of Real Estate
  11. Real Estate Calculations

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