New Mexico Real Estate Broker Basics Questions & 100% Correct Answers | Latest Update | Graded A+

Which of the following REQUIRES a real estate license? A. Sale of 20 lots in a subdivision by an employee B. Three-week rental of a condominium C. Sale of time-share units D. Sale of more than 20 personally owned properties : C. Sale of time-share units The New Mexico Real Estate Commission may NOT impose A. licensing requirements B. penalties for Code of Ethics violations C. disciplinary penalties D. a recovery fund assessment : B. penalties for Code of Ethics violations The responsibilities of the New Mexico Real Estate Commission do NOT include 2 | P a g e A. regulating brokerage fees B. enforcing license law C. enforcing rules and regulations D. refusing a license for cause : A. regulating brokerage fees The governor of the State of New Mexico A. appoints members to the New Mexico Real Estate Commission with the advice and consent of the state legislature B. fills vacancies on the New Mexico Real Estate Commission for unexpired terms C. may remove any member without cause D. all of these : B. fills vacancies on the New Mexico Real Estate Commission for unexpired term