NM broker basics unit 1 quiz - NM real estate license law with 100% Correct Answers

NM broker basics unit 1 quiz - NM real estate license law with 100% Correct Answers Which of the following requires a real estate license? - Correct Answer ️️ -Sale of timeshare units The New Mexico real estate commissions may not impose - Correct Answer ️️ - Penalties for code of ethics violations The responsibilities of New Mexico real estate commissions do not include - Correct Answer ️️ -Regulating brokerage fees The governor of the state of New Mexico - Correct Answer ️️ -Fills vacancies in the New Mexico real estate commissions for unexpired terms referral fee to an unlicensed person for information leading to a listing - Correct Answer ️️ -Is a violation of the license law Brokers license can be revoked if the broker - Correct Answer ️️ -Fails to account for funds that belong to others Which of the following are exempt from the provisions of real estate license law? - Correct Answer ️️ -A trustee acting under a deed of trust, a trustee acting under a trust agreement, and a person who deals exclusively In mineral leases. Once a notice of contemplated action- NCA- Is issued by the commission, the respondent has how many days to respond to the commission to request a hearing? - Correct Answer ️️ -20 days