New Mexico Real Estate Exam Questions
With Correct Answers
The |commission |shall |be |appointed |by? |- |CORRECT |ANSWER✔✔-The |governor.
The |three |functions |of |the |commission |are? |- |CORRECT |ANSWER✔✔-Licensing, |Education, |
Enforcement. |(LEE)
The |commission |has |how |many |members? |- |CORRECT |ANSWER✔✔-five |members, |four |
members |must |be |licensed |and |one |member |must |be |nonlicensed. |Not |more |than |one |
member |can |be |from |the |same |county.
Who |is |exempt |from |obtaining |a |license |- |CORRECT |ANSWER✔✔-Subdivisions |holding |less |
than |99 |parcels, |time-share |sales |persons |with |15% |ownership |in |the |time-share |project, |
Business |Opportunity |Brokers.
A |violation |of |the |license |law |by |an |unlicensed |person |will |result |in? |- |CORRECT |ANSWER✔✔-
A |fourth |degree |felony.
Qualifying |broker |applicants |not |in |a |managerial |position |need |how |much |experience? |- |
CORRECT |ANSWER✔✔-two |years |of |active |experience |as |a |licensed |associate |broker.
Qualifying |broker |applicants |in |a |managerial |position |should |have |how |much |experience? |- |
CORRECT |ANSWER✔✔-Document |four |year |of |active |experience |as |a |licensed |associate |and |
qualifying |broker.
With Correct Answers
The |commission |shall |be |appointed |by? |- |CORRECT |ANSWER✔✔-The |governor.
The |three |functions |of |the |commission |are? |- |CORRECT |ANSWER✔✔-Licensing, |Education, |
Enforcement. |(LEE)
The |commission |has |how |many |members? |- |CORRECT |ANSWER✔✔-five |members, |four |
members |must |be |licensed |and |one |member |must |be |nonlicensed. |Not |more |than |one |
member |can |be |from |the |same |county.
Who |is |exempt |from |obtaining |a |license |- |CORRECT |ANSWER✔✔-Subdivisions |holding |less |
than |99 |parcels, |time-share |sales |persons |with |15% |ownership |in |the |time-share |project, |
Business |Opportunity |Brokers.
A |violation |of |the |license |law |by |an |unlicensed |person |will |result |in? |- |CORRECT |ANSWER✔✔-
A |fourth |degree |felony.
Qualifying |broker |applicants |not |in |a |managerial |position |need |how |much |experience? |- |
CORRECT |ANSWER✔✔-two |years |of |active |experience |as |a |licensed |associate |broker.
Qualifying |broker |applicants |in |a |managerial |position |should |have |how |much |experience? |- |
CORRECT |ANSWER✔✔-Document |four |year |of |active |experience |as |a |licensed |associate |and |
qualifying |broker.
