NM BROKER BASICS REVIEW UPDATED ACTUAL EXAM
QUESTIONS AND ACCURATE ANSWERS NEWEST 2026/27
IF licensee does not request hearing within 20 days,
commission may revoke the license
After hearing the commission will render a decision
QB may only have their licensee revoked for the illegal activity
of their abs if they have guilty knowledge
The status of the license if still active during the decision of the
commission after the hearing
Appeals
Decisions of the commission in favor of licensees are final
If commission rules against licensee, the license may seek
judicial review in district court
Appeals are made to the district court within 30 days of the
commission decision
Penalties
,Commission may fine licensee based on the ULA up to $1000
per offense
Commission mahy deny, revoke or suspend license
Commission may require t a licensee to attend education
courses with no credit hours awarded toward license renewal
The minimum penalty that the commission may impose is a
Letter of Reprimand
Qualifying Broker
Responsible for all real estate activites within the brokerage
May serve concurrently as a QB for more than one brokerage
NM QB may, by written agreement, engage the services of an
associate broker and qbs
May serve as a Qb ans assocuiate broker for different
brokerages simultaneously, provided that therea re written
agreements executed specifying the responsibilities and scope
of authority for each brokerage
Associate broker
, Must be affiliated with a Qb to engage in brokerage activities
May have one associate broker's license and be affiliated with
only one qualifying broker at a time
Qualifying Brokers Must:
Conduct the real estate brokerage business under the trade
name and from the brokerage address registered with the
commission
Display the QB's own license and the licenses of all other
affiliated associate brokers from the brokerage address
registered with the commission
In the event of a virtual office, display a legible photo or
scanned image of the license on the brokerage's website with
a link labeled "real estate licenses"
Have a current copy of the state of NM license law and
commission rules manual
Notify in within within 10 days of any change of the brokerage
office address or phone number
Supervise all real esatet related activities perfomred by all
personnel whether licensed or unlicensed
QUESTIONS AND ACCURATE ANSWERS NEWEST 2026/27
IF licensee does not request hearing within 20 days,
commission may revoke the license
After hearing the commission will render a decision
QB may only have their licensee revoked for the illegal activity
of their abs if they have guilty knowledge
The status of the license if still active during the decision of the
commission after the hearing
Appeals
Decisions of the commission in favor of licensees are final
If commission rules against licensee, the license may seek
judicial review in district court
Appeals are made to the district court within 30 days of the
commission decision
Penalties
,Commission may fine licensee based on the ULA up to $1000
per offense
Commission mahy deny, revoke or suspend license
Commission may require t a licensee to attend education
courses with no credit hours awarded toward license renewal
The minimum penalty that the commission may impose is a
Letter of Reprimand
Qualifying Broker
Responsible for all real estate activites within the brokerage
May serve concurrently as a QB for more than one brokerage
NM QB may, by written agreement, engage the services of an
associate broker and qbs
May serve as a Qb ans assocuiate broker for different
brokerages simultaneously, provided that therea re written
agreements executed specifying the responsibilities and scope
of authority for each brokerage
Associate broker
, Must be affiliated with a Qb to engage in brokerage activities
May have one associate broker's license and be affiliated with
only one qualifying broker at a time
Qualifying Brokers Must:
Conduct the real estate brokerage business under the trade
name and from the brokerage address registered with the
commission
Display the QB's own license and the licenses of all other
affiliated associate brokers from the brokerage address
registered with the commission
In the event of a virtual office, display a legible photo or
scanned image of the license on the brokerage's website with
a link labeled "real estate licenses"
Have a current copy of the state of NM license law and
commission rules manual
Notify in within within 10 days of any change of the brokerage
office address or phone number
Supervise all real esatet related activities perfomred by all
personnel whether licensed or unlicensed
