STATE OF NEW MEXICO REAL ESTATE
EXAM QUESTIONS AND ANSWERS 2026
VERIFIED.
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. -
ANS Exambple- would be unlicensed activity
How long do licensee have to respond to a complaint by the Real Estate Commission? -
ANS 10 days
If commission finds cause, what will they issue? - ANS Notice of Contemplated Action ( NCA)
If there is a false statement on license application, what does commission do? - ANS Will
issue NCA for hearing
How long do licensees have to request a hearing upon receipt of Notice of Contemplated Action
(NCA) - ANS Licensee have 20 days to request hearing
If licensee does not request the hearing within 20 days, what can the comission do? -
ANS Revoke license
How long do licensees have to appeal a decision against them to the district court after a
hearing? - ANS 30 days
@2026/2027 ALLRIGHTS RESERVED.
,Qualifying brokers license can be revoked if their Associste broker is found guilty of illegal
activity, only if? - ANS QB had Guilty Knowledge of the offense
What is the minimum penalty that the commission may impose? - ANS A Letter of Reprimand
What is the maximum fine the commission may impose? - ANS $1000/violation
What happens if the complaint against broker is filed. and then later dropped? - ANS The
commission is still required to investigate if an violation has occured.
What is the status if the license during the complaint porcess until the decision of the
commission after the hearing? - ANS Active
Disputes between Associate Brokers and Qualifying Brokers regarding commissions - ANS Are
not investigated by the real estate commission
Required records shall be available to the commission and whether in paper or electronic
format. - ANS Shall be retained for not less than 6 years.
Who enforces the Code of Ethics? - ANS The National Association of Realtors
The Real Estate Commission does not enforce the Code of Ethics
All records generated in connection with real estate matters MUST be made available to who? -
ANS The Commission upon request
Should person selling time-shares be lisenced? - ANS They must be licensed unless they have
a 15% ownership
@2026/2027 ALLRIGHTS RESERVED.
, interest.
If an applicant fails one portion of the exam and pass the other, they must pass the failed
portion within _________ before having to retake both portions. - ANS 90 days
How long does an applicant have to apply after passing their exams? - ANS An applicant has
180 days to make application for license after passing their exam.
Maximum fee that may be charged per exam - ANS $95
Maximum fee that may be charged for a real estate license - ANS $270
An applicant for a broker's license must have the recommendation of ________ reputable
citizen who own real estate in the applicant's county - ANS Two
Broker changing address must notify commission of new address within _____ - ANS Within
10 days of address change
When Associate brokers request that their license is transferred, the QB shall within________
hours return the license to the commission - ANS within 48 hours
When can a licensee tranferring office start working for the new QB? - ANS A licensee
transferring offices may start working for the new QB when the
transfer application, the license, proof of E&O insurance, and the $20 transfer
fee are stamped and received by the commission
What are the transferring fees? - ANS For each license transferred, a fee no to exceed $20. If
there are 11 or more affected
licenses, the total transfer fee paid shall not exceed $200.
@2026/2027 ALLRIGHTS RESERVED.
EXAM QUESTIONS AND ANSWERS 2026
VERIFIED.
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. -
ANS Exambple- would be unlicensed activity
How long do licensee have to respond to a complaint by the Real Estate Commission? -
ANS 10 days
If commission finds cause, what will they issue? - ANS Notice of Contemplated Action ( NCA)
If there is a false statement on license application, what does commission do? - ANS Will
issue NCA for hearing
How long do licensees have to request a hearing upon receipt of Notice of Contemplated Action
(NCA) - ANS Licensee have 20 days to request hearing
If licensee does not request the hearing within 20 days, what can the comission do? -
ANS Revoke license
How long do licensees have to appeal a decision against them to the district court after a
hearing? - ANS 30 days
@2026/2027 ALLRIGHTS RESERVED.
,Qualifying brokers license can be revoked if their Associste broker is found guilty of illegal
activity, only if? - ANS QB had Guilty Knowledge of the offense
What is the minimum penalty that the commission may impose? - ANS A Letter of Reprimand
What is the maximum fine the commission may impose? - ANS $1000/violation
What happens if the complaint against broker is filed. and then later dropped? - ANS The
commission is still required to investigate if an violation has occured.
What is the status if the license during the complaint porcess until the decision of the
commission after the hearing? - ANS Active
Disputes between Associate Brokers and Qualifying Brokers regarding commissions - ANS Are
not investigated by the real estate commission
Required records shall be available to the commission and whether in paper or electronic
format. - ANS Shall be retained for not less than 6 years.
Who enforces the Code of Ethics? - ANS The National Association of Realtors
The Real Estate Commission does not enforce the Code of Ethics
All records generated in connection with real estate matters MUST be made available to who? -
ANS The Commission upon request
Should person selling time-shares be lisenced? - ANS They must be licensed unless they have
a 15% ownership
@2026/2027 ALLRIGHTS RESERVED.
, interest.
If an applicant fails one portion of the exam and pass the other, they must pass the failed
portion within _________ before having to retake both portions. - ANS 90 days
How long does an applicant have to apply after passing their exams? - ANS An applicant has
180 days to make application for license after passing their exam.
Maximum fee that may be charged per exam - ANS $95
Maximum fee that may be charged for a real estate license - ANS $270
An applicant for a broker's license must have the recommendation of ________ reputable
citizen who own real estate in the applicant's county - ANS Two
Broker changing address must notify commission of new address within _____ - ANS Within
10 days of address change
When Associate brokers request that their license is transferred, the QB shall within________
hours return the license to the commission - ANS within 48 hours
When can a licensee tranferring office start working for the new QB? - ANS A licensee
transferring offices may start working for the new QB when the
transfer application, the license, proof of E&O insurance, and the $20 transfer
fee are stamped and received by the commission
What are the transferring fees? - ANS For each license transferred, a fee no to exceed $20. If
there are 11 or more affected
licenses, the total transfer fee paid shall not exceed $200.
@2026/2027 ALLRIGHTS RESERVED.
