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New Mexico Real Estate Broker Basics Updated Actual Exam Questions and Correct Answers.pdf

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New Mexico Real Estate Broker Basics Updated Actual Exam Questions and Correct A

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New Mexico Real

Estate Broker Basics

Updated Actual Exam

Questions and

Correct Answers



1. 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




2. The New Mexico Real Estate

Commission may NOT impose

, A. licensing requirements

B. penalties for Code of Ethics

violations

C. disciplinary penalties

D. a recovery fund assessment -

correct answer=✔✔B. penalties

for Code of Ethics violations




3. The responsibilities of the New

Mexico Real Estate Commission do

NOT include

, A. regulating brokerage fees

B. enforcing license law

C. enforcing rules and

regulations

D. refusing a license for cause -

correct answer=✔✔A. regulating

brokerage fees




4. The governor of the State of New

Mexico




A. appoints members to the New

Mexico Real Estate

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