NEW MEXICO LATEST
MANUFACTURED
HOMES SALESPERSON
PRACTICE EXAM
Warranty on a used home sold by a dealership is
a. 30 days
b. 90 days
c. 60 days
d. 90 days, or 1 year, whichever is longer - ANSWERS-b. 90 days
A customer calls for warranty repair work and it is completed in the 10th
month after the customer received the keys, how long will the work be
covered under warranty?
a. 30 days
b. 90 days
c. until the customers 1 year warranty has expired
d. 90 days, or until the customers 1 year warranty has expired,
whichever is later... - ANSWERS-a. 30 days
Each person's license shall be renewed annually during its anniversary
month. How many days does the division allow for a licensee to renew
without penalty?
END OF
PAGE
1
, NEW MEXICO LATEST
MANUFACTURED
HOMES SALESPERSON
PRACTICE EXAM
a. 90 days
b. 60 days
c. 30 days
d. 10 days - ANSWERS-c. 30 days
Regulation Z is basically...
a. To enforce fair trade practices
b. truth and justice
c. statutes to which homes are built
d. to share with consumers the long terms of lending and the truths that
are involved... - ANSWERS-d. to share with consumers the long terms
of lending and the truths that are involved.
DAPIA stands for... - ANSWERS-Design Approval Primary Inspection
Agency
END OF
PAGE
2
, NEW MEXICO LATEST
MANUFACTURED
HOMES SALESPERSON
PRACTICE EXAM
IPIA stands for... - ANSWERS-Production Information Preparation
Inspection Agency
If you quit one company to go to another, your license is
a. thrown away and you must retest
b. transferred to your new employer
c. placed in inactive status
d. renewed automatically - ANSWERS-b. transferred to your new
employer
Using exaggeration as a means to deceive and gain a sale is known as:
a. Ok to do once in a while
b. forbidden in all states except NM, UT, AZ, and CO
c. Unfair trade practices
d. totally okay to do because they will do it to you - ANSWERS-C.
Unfair trade practices
END OF
PAGE
3
MANUFACTURED
HOMES SALESPERSON
PRACTICE EXAM
Warranty on a used home sold by a dealership is
a. 30 days
b. 90 days
c. 60 days
d. 90 days, or 1 year, whichever is longer - ANSWERS-b. 90 days
A customer calls for warranty repair work and it is completed in the 10th
month after the customer received the keys, how long will the work be
covered under warranty?
a. 30 days
b. 90 days
c. until the customers 1 year warranty has expired
d. 90 days, or until the customers 1 year warranty has expired,
whichever is later... - ANSWERS-a. 30 days
Each person's license shall be renewed annually during its anniversary
month. How many days does the division allow for a licensee to renew
without penalty?
END OF
PAGE
1
, NEW MEXICO LATEST
MANUFACTURED
HOMES SALESPERSON
PRACTICE EXAM
a. 90 days
b. 60 days
c. 30 days
d. 10 days - ANSWERS-c. 30 days
Regulation Z is basically...
a. To enforce fair trade practices
b. truth and justice
c. statutes to which homes are built
d. to share with consumers the long terms of lending and the truths that
are involved... - ANSWERS-d. to share with consumers the long terms
of lending and the truths that are involved.
DAPIA stands for... - ANSWERS-Design Approval Primary Inspection
Agency
END OF
PAGE
2
, NEW MEXICO LATEST
MANUFACTURED
HOMES SALESPERSON
PRACTICE EXAM
IPIA stands for... - ANSWERS-Production Information Preparation
Inspection Agency
If you quit one company to go to another, your license is
a. thrown away and you must retest
b. transferred to your new employer
c. placed in inactive status
d. renewed automatically - ANSWERS-b. transferred to your new
employer
Using exaggeration as a means to deceive and gain a sale is known as:
a. Ok to do once in a while
b. forbidden in all states except NM, UT, AZ, and CO
c. Unfair trade practices
d. totally okay to do because they will do it to you - ANSWERS-C.
Unfair trade practices
END OF
PAGE
3
