NEW MEXICO 30-HOUR EXAM
QUESTIONS AND ANSWERS 2026
VERIFIED.
What does seller's broker Syd owe to another broker's client/customer? - ANS Honesty and
fairness, written disclosure of known adverse material facts, written disclosure of conflicts of
interest, compliance with laws and performance of written agreements.
Is Ashley required to hold a real estate license? - ANS No, she is exempt from the licensure
requirement as she is acting on behalf of the property owner in the regular course of property
management.
What's another name for a tenancy agreement in New Mexico? - ANS Lease
Why is the effective date of a contract important? - ANS It determines key deadlines for the
contract.
What is the maximum fine NMREC could levy for offenders of license law? - ANS A maximum
of $500.
What duty does a New Mexico licensee owe both the Andersons and the Wilkeses? -
ANS Complying with all New Mexico Real Estate Commission laws and regulations.
Which agency must licensees contact to update their address information? - ANS NMREC
@2026/2027 ALLRIGHTS RESERVED.
, What kind of authority are you acting on if you are following specific instructions from your
seller client? - ANS Express authority.
What contract allows a tenant to live on the property? - ANS A lease.
What are you allowed to do when posting a listing on the MLS? - ANS State that a property is
'one block' from downtown, if it is.
With how many qualifying brokers may a New Mexico associate broker affiliate? -
ANS Associate brokers may only affiliate with one qualifying broker at any given time.
In a New Mexico purchase agreement, where would a buyer indicate plans to obtain an FHA
mortgage? - ANS In the Financed or Cash Purchase section.
In a transaction brokerage agreement, who is the buyer considered? - ANS A client.
Where can real estate agents find information about filling out a permit for a new septic
system? - ANS On the New Mexico Environment Department website.
What is true regarding the licensing exam in New Mexico? - ANS Applicants must pass both
the national and state exams, which have the same passing score requirements.
To whom do New Mexico brokers owe the duty of obeying fair housing and anti-discrimination
laws? - ANS To all buyers and sellers in the transaction.
What responsibility does the seller's agent have to the seller? - ANS Seek a sale at the best
price at terms that are acceptable to the seller.
@2026/2027 ALLRIGHTS RESERVED.
QUESTIONS AND ANSWERS 2026
VERIFIED.
What does seller's broker Syd owe to another broker's client/customer? - ANS Honesty and
fairness, written disclosure of known adverse material facts, written disclosure of conflicts of
interest, compliance with laws and performance of written agreements.
Is Ashley required to hold a real estate license? - ANS No, she is exempt from the licensure
requirement as she is acting on behalf of the property owner in the regular course of property
management.
What's another name for a tenancy agreement in New Mexico? - ANS Lease
Why is the effective date of a contract important? - ANS It determines key deadlines for the
contract.
What is the maximum fine NMREC could levy for offenders of license law? - ANS A maximum
of $500.
What duty does a New Mexico licensee owe both the Andersons and the Wilkeses? -
ANS Complying with all New Mexico Real Estate Commission laws and regulations.
Which agency must licensees contact to update their address information? - ANS NMREC
@2026/2027 ALLRIGHTS RESERVED.
, What kind of authority are you acting on if you are following specific instructions from your
seller client? - ANS Express authority.
What contract allows a tenant to live on the property? - ANS A lease.
What are you allowed to do when posting a listing on the MLS? - ANS State that a property is
'one block' from downtown, if it is.
With how many qualifying brokers may a New Mexico associate broker affiliate? -
ANS Associate brokers may only affiliate with one qualifying broker at any given time.
In a New Mexico purchase agreement, where would a buyer indicate plans to obtain an FHA
mortgage? - ANS In the Financed or Cash Purchase section.
In a transaction brokerage agreement, who is the buyer considered? - ANS A client.
Where can real estate agents find information about filling out a permit for a new septic
system? - ANS On the New Mexico Environment Department website.
What is true regarding the licensing exam in New Mexico? - ANS Applicants must pass both
the national and state exams, which have the same passing score requirements.
To whom do New Mexico brokers owe the duty of obeying fair housing and anti-discrimination
laws? - ANS To all buyers and sellers in the transaction.
What responsibility does the seller's agent have to the seller? - ANS Seek a sale at the best
price at terms that are acceptable to the seller.
@2026/2027 ALLRIGHTS RESERVED.
