- Study guides, Class notes & Summaries

New Mexico Real Estate Law Exam Questions and Answers A broker is performing as a property manager and deposits rent into her operating account. This is an example of which of the following? - Correct Answer ️️ -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) - Correct Answer ️️ -The answer is ESTATE FOR YEARS. An estate for years locks the holder into the lease for a specific ...

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18 pages

Written in 2023/2024

Grade A+

EmilyCharlene

State of New Mexico Real Estate Exam Questions and Answers A violation of real estate law or commission rules could be considered a fourth-degree felony, subject up to 18 months imprisonment and/or a $,5000 criminal fine. - Correct Answer ️️ -Exambple- would be unlicensed activity How long do licensee have to respond to a complaint by the Real Estate Commission? - Correct Answer ️️ -10 days If commission finds cause, what will they issue? - Correct Answer ️️ -Notice of Contem...

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19 pages

Written in 2023/2024

Grade A+

EmilyCharlene

New Mexioc Real Estate Broker Exam Questions and Answers Which of the following is false regarding trade name? - Correct Answer ️️ -Associate brokers must register trade name. Mechanic's lien laws affecting real property - Correct Answer ️️ -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? - Correct Answer ️️ -Photo or scanned images of the licenses ...

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6 pages

Written in 2023/2024

Grade A+

EmilyCharlene

NM Broker basics unit 2 quiz-brokerage relationships Questions and Answers When acting as a property manager for a Principal, the brokerage relationship is which of the following? - Correct Answer ️️ -Exclusive agency Every licensee must meet disclosure requirements to any client. Disclosure must include which of the following? - Correct Answer ️️ -Disclosure of any conflict of interest, description of licensed broker duties, notice of an in-house transaction - all of these Which...

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3 pages

Written in 2023/2024

Grade A+

EmilyCharlene

NM Real Estate Practice Exam Questions and Answers Feet in an acre - Correct Answer ️️ -43,560 ft Feet in a Mile - Correct Answer ️️ -5,280 ft A Plat - Correct Answer ️️ -An unofficial map or plan of a parcel of land that's been or will be subdivided to show the boundaries of each created lot Metes and Bounds - Correct Answer ️️ -Description using compass headings and directions Lot and Block - Correct Answer ️️ -Land description which provides plat reference Overse...

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7 pages

Written in 2023/2024

Grade A+

EmilyCharlene

New Mexico RE Principles and Practice Questions and Answers Land value plus current construction costs minus depreciation - Correct Answer ️️ - Cost Approach He can refuse to rent to the tenant because of the history of violence. - Correct Answer ️️ -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 - Correct Answer ️️ -Under FHA, It is illegal to discriminate if A judg...

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8 pages

Written in 2023/2024

Grade A+

EmilyCharlene

New Mexico Real Estate Bundled Exams Questions and Answers Already Passed

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8 items

StellarScores

NM Real Estate Practice Exam Questions with Verified Solutions Feet in an acre 43,560 ft Feet in a Mile 5,280 ft A Plat An unofficial map or plan of a parcel of land that's been or will be subdivided to show the boundaries of each created lot Metes and Bounds Description using compass headings and directions Lot and Block Land description which provides plat reference Oversees Fannie Mae and Freddie Mac and regulates the Federal Home Loan Bank Federal Housing Finance Agency...

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10 pages

Written in 2023/2024

Grade A+

StellarScores