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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...
![](/docpics/5152264/6630f6ecee9ac_5152264_121_171.jpeg)
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...
![](/docpics/5152256/6630f6ea2f9be_5152256_121_171.jpeg)
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...
![](/docpics/5152250/6630f6a5a2d24_5152250_121_171.jpeg)
NM broker basics unit 1 quiz - NM real estate license law with 100% Correct Answers
- Package deal
- Exam (elaborations)
- • 3 pages •
![](/docpics/5152247/6630f6a2bc5e0_5152247_121_171.jpeg)
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...
![](/docpics/5152242/6630f69fedcf3_5152242_121_171.jpeg)
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...
![](/docpics/5152238/6630f66b7f221_5152238_121_171.jpeg)
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 ...
![](/docpics/5152231/6630f6689b562_5152231_121_171.jpeg)
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...
![](/docpics/5152221/6630f628d4b68_5152221_121_171.jpeg)
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...
![](/docpics/5152219/6630f5fd2e6a6_5152219_121_171.jpeg)
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, ...
Earth Science Exam Review 2024 with Complete Solutions
Hondros Nursing 172 Exam 2 Questions and Answers 100% Pass
Oregon Pesticide Examination: Ornamental and Turf Herbicide Questions and Answers 100% Pass
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INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
the answers are incorrect