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? - Correct Answer ️️ - Not more than 180 prior to closing What is the time that transaction files must be maintained, even if it does not close? - Correct Answer ️️ -6 years What is required office signage? - Correct Answer ️️ -It must be in a conspicuous location near the entrance to the office The minimum amount the Real Estate Recovery fund cannot fall below - Correct Answer ️️ -150,000 Licensee has how many days to respond to complaint by real estate commision - Correct Answer ️️ -10 Days How long does an injured party have to file a claim after receiving judgement and making all attempts to collect from broker? - Correct Answer ️️ -within 1 year What is the maximum amount that the recover fund will pay per judgement/offense? - Correct Answer ️️ -10,000