- Study guides, Class notes & Summaries

Which is FALSE regarding trade names? - Answer- Associate broker must register a trade name Duties of broker not required? - Answer- To attend closings What is not a broker relationship? - Answer- Designated Agency Who regulates Septic systems in New Mexico - Answer- New Mexico Environmental Improvement Department When is a Septic system required to be inspected and certified? - Answer- Not more than 180 prior to closing What is the time that transaction files must be maintained, ...

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2 pages

Written in 2022/2023

Grade A+

GEEKA

Broker duties are not required to : Disclose their license number or the county issued What are the six fiduciary rights : Obedience, loyalty, disclosure, confidentiality, accounting, reasonable care and skills If you don't know the answer you should : Advised to consult an attorney if needed Unless authorized in writing a broker representing a seller/owner should not disclose to buyer/tendon : 1) seller owner will except less money 2)will agree to financing other than offered 3) m...

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10 pages

Written in 2023/2024

Grade A+

Axpert

New Mexico Broker Basics Final Updated Actual Exam Questions And Definitive Answers Newest 26/27

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7 pages

Written in 2025/2026

Grade A+

Kylie6764

How is priority of water rights determined? - CORRECT ANSWER-When permit is filed with engineers office Fee to transfer a brokers license location - CORRECT ANSWER-20 dollars for transfer fee and license fee of 200 dollars Minimum penalty commision may impose - CORRECT ANSWER-Letter of reprimand applicant for associate broker must have the recommendation of? - CORRECT ANSWER-Two reputable citizens who own real estate in the applicants county Exception to licensing - CORRECT ANSWER-In subd...

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2 pages

Written in 2024/2025

Grade A+

ACADEMICMATERIALS

New Mexico Broker Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Which is FALSE regarding trade names? - Answer -Associate broker must register a trade name Duties of broker not required? - Answer -To attend closings What is not a broker relationship? - Answer -Designated Agency Who regulates Septic systems in New Mexico - Answer -New Mexico Environmental Improvement Department When is a Septic system required to be inspected and certified? - Answer -Not mo...

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3 pages

Written in 2024/2025

Grade A+

mercylynneh

New Mexico Broker Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Which is FALSE regarding trade names? - Answer -Associate broker must register a trade name Duties of broker not required? - Answer -To attend closings What is not a broker relationship? - Answer -Designated Agency Who regulates Septic systems in New Mexico - Answer -New Mexico Environmental Improvement Department When is a Septic system required to be inspected and certified? - Answer -Not mo...

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3 pages

Written in 2024/2025

Grade A+

AdelineJean

New Mexico Broker Exams Pack Questions & 100% Correct Answers | Latest Update | Graded A+

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14 items

Axpert

Which of the following is false regarding trade name? : Associate brokers must register trade name. Mechanic's lien laws affecting real property : require the lien to be recorded for it be enforceable. A qualifying broker opens a virtual office. Where must the qualifying broker keep the licenses of his associate brokers? : Photo or scanned images of the licenses must be on the brokerages website through linked labels "real estate licenses." On social media, a broker posts a listing ...

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9 pages

Written in 2023/2024

Grade A+

Axpert

A broker is performing as a property manager and deposits rent into her operating account. This is an example of which of the following? : The answer is COMMINGLING. Mixing a broker's money with a client's money is commingling (and illegal). A lessee has the greatest protection with a(n) : The answer is ESTATE FOR YEARS. An estate for years locks the holder into the lease for a specific period of time, which cannot be terminated without cause, even if the property is sold. A broker...

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22 pages

Written in 2023/2024

Grade A+

Axpert

Land value plus current construction costs minus depreciation : Cost Approach He can refuse to rent to the tenant because of the history of violence. : A landlord discovered that a potential tenant who applied for a unit has a history of alcoholism and violence. What should the landlord do? A person has AIDS : Under FHA, It is illegal to discriminate if A judgement against a borrower if the foreclosure sale does not bring enough to pay the balance owed : Deficiency Judgment Is used w...

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14 pages

Written in 2023/2024

Grade A+

Axpert

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 : 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 penalties D. a recovery fund assessment : B. penalties for Code of Ethics violations The respons...

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26 pages

Written in 2023/2024

Grade A+

Axpert

Which is FALSE regarding trade names? : Associate broker must register a trade name Duties of broker not required? : To attend closings What is not a broker relationship? : Designated Agency Who regulates Septic systems in New Mexico : New Mexico Environmental Improvement Department When is a Septic system required to be inspected and certified? : Not more than 180 prior to closing What is the time that transaction files must be maintained, even if it does not close? : 6 years 2 | P ...

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9 pages

Written in 2023/2024

Grade A+

Axpert

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 : Associate brokers must register a trade name All of the following are broker duties EXCEPT -honesty -disclosure of material facts -Attend closings -confidentiality : Attend closings The duty of honesty and reaso...

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6 pages

Written in 2023/2024

Grade A+

Axpert

Which of the following is false regarding trade names : associate brokers must register a trade name all of the following are broker duties except : attend closings the duty of honest and reasonable care means : Activley applying a brokers skill and expertise for the benefit of the client who regulates septic systems in new mexico : new mexico environmental improvement department when is a septic system required to be inspected and certified : prior to the transfer of ownership of the p...

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6 pages

Written in 2023/2024

Grade A+

Axpert

Changes or amendments to Commission rules are effective ____ days after notification to all active licensees : 30 a violation of real estate law or commission rules could be considered a _______________ felony : 4th degree a violator of real estate law or comission rules could be subject to __________ and/or_____________ : 18 months imprisonment and/or $5,000 fine. Licensees have ____ days to respond to a complaint by the real estate commission : 10 If it finds cause, the commissio...

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12 pages

Written in 2023/2024

Grade A+

Axpert

New Mexico Broker Exam Questions And Answers With Latest Study Quiz New Mexico Broker Exam Questions And Answers With Latest Study Quiz

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3 pages

Written in 2023/2024

Grade A+

Nipsey

New Mexico Real Estate Bundled Exams Questions and Answers Already Passed

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8 items

StellarScores

Which is FALSE regarding trade names? - Answer-Associate broker must register a trade name Duties of broker not required? - Answer-To attend closings What is not a broker relationship? - Answer-Designated Agency Who regulates Septic systems in New Mexico - Answer-New Mexico Environmental Improvement Department When is a Septic system required to be inspected and certified? - Answer-Not more than 180 prior to closing What is the time that transaction files must be maintained, even if it ...

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2 pages

Written in 2023/2024

Grade A+

kimarimonicah

Which is FALSE regarding trade names? - Answer-Associate broker must register a trade name Duties of broker not required? - Answer-To attend closings What is not a broker relationship? - Answer-Designated Agency Who regulates Septic systems in New Mexico - Answer-New Mexico Environmental Improvement Department When is a Septic system required to be inspected and certified? - Answer-Not more than 180 prior to closing What is the time that transaction files must be maintained, even if it ...

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2 pages

Written in 2023/2024

Grade A+

kimarimonicah

New Mexico Broker Exam Questions and Answers 100% Pass Which is FALSE regarding trade names? Associate broker must register a trade name Duties of broker not required? To attend closings What is not a broker relationship? Designated Agency Who regulates Septic systems in New Mexico New Mexico Environmental Improvement Department When is a Septic system required to be inspected and certified? Not more than 180 prior to closing What is the time that transaction files must be...

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5 pages

Written in 2023/2024

Grade A+

StellarScores