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New Mexico Broker Exams Pack Questions & 100% Correct Answers | Latest Update | Graded A+
New Mexico Broker Exams Pack Questions & 100% Correct Answers | Latest Update | Graded A+
[Show more]New Mexico Broker Exams Pack Questions & 100% Correct Answers | Latest Update | Graded A+
[Show more]What is the New Mexico Real Estate Commission (NMREC) ? 
: Government agency that enforces the license law, enacts rules to clarify and/or 
implement the law and sets education, application and renewal requirements. 
What is parent company of New Mexico Real Estate Commission (NMREC) ? 
: the NM Re...
Preview 2 out of 9 pages
Add to cartWhat is the New Mexico Real Estate Commission (NMREC) ? 
: Government agency that enforces the license law, enacts rules to clarify and/or 
implement the law and sets education, application and renewal requirements. 
What is parent company of New Mexico Real Estate Commission (NMREC) ? 
: the NM Re...
Broker duties are not required to 
: Disclose their license number or the county issued 
What are the six fiduciary rights 
: Obedience, loyalty, disclosure, confidentiality, accounting, reasonable care and 
skills 
If you don't know the answer you should 
: Advised to consult an attorney if neede...
Preview 2 out of 10 pages
Add to cartBroker duties are not required to 
: Disclose their license number or the county issued 
What are the six fiduciary rights 
: Obedience, loyalty, disclosure, confidentiality, accounting, reasonable care and 
skills 
If you don't know the answer you should 
: Advised to consult an attorney if neede...
Changes or amendments to Commission rules are effective ____ days after notification 
to all active licensees 
: 30 
a violation of real estate law or commission rules could be considered a 
_______________ felony 
: 4th degree 
a violator of real estate law or comission rules could be subject to ...
Preview 2 out of 12 pages
Add to cartChanges or amendments to Commission rules are effective ____ days after notification 
to all active licensees 
: 30 
a violation of real estate law or commission rules could be considered a 
_______________ felony 
: 4th degree 
a violator of real estate law or comission rules could be subject to ...
Which of the following is false regarding trade names 
: associate brokers must register a trade name 
all of the following are broker duties except 
: attend closings 
the duty of honest and reasonable care means 
: Activley applying a brokers skill and expertise for the benefit of the client 
who ...
Preview 2 out of 6 pages
Add to cartWhich of the following is false regarding trade names 
: associate brokers must register a trade name 
all of the following are broker duties except 
: attend closings 
the duty of honest and reasonable care means 
: Activley applying a brokers skill and expertise for the benefit of the client 
who ...
Which of the following is FALSE regarding trade names? 
-trade names are registered with the commission 
-the brokerage must be conducted from the address as registered 
-associate brokers must register a trade name 
-a qualifying broker may register more than one trade name 
: Associate brokers mus...
Preview 2 out of 6 pages
Add to cartWhich of the following is FALSE regarding trade names? 
-trade names are registered with the commission 
-the brokerage must be conducted from the address as registered 
-associate brokers must register a trade name 
-a qualifying broker may register more than one trade name 
: Associate brokers mus...
Which is FALSE regarding trade names? 
: Associate broker must register a trade name 
Duties of broker not required? 
: To attend closings 
What is not a broker relationship? 
: Designated Agency 
Who regulates Septic systems in New Mexico 
: New Mexico Environmental Improvement Department 
When is ...
Preview 2 out of 9 pages
Add to cartWhich is FALSE regarding trade names? 
: Associate broker must register a trade name 
Duties of broker not required? 
: To attend closings 
What is not a broker relationship? 
: Designated Agency 
Who regulates Septic systems in New Mexico 
: New Mexico Environmental Improvement Department 
When is ...
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 ma...
Preview 3 out of 26 pages
Add to cartWhich 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 ma...
Which of the following is false regarding trade name? 
: Associate brokers must register trade name. 
Mechanic's lien laws affecting real property 
: require the lien to be recorded for it be enforceable. 
A qualifying broker opens a virtual office. Where must the qualifying broker keep the 
licen...
Preview 2 out of 9 pages
Add to cartWhich of the following is false regarding trade name? 
: Associate brokers must register trade name. 
Mechanic's lien laws affecting real property 
: require the lien to be recorded for it be enforceable. 
A qualifying broker opens a virtual office. Where must the qualifying broker keep the 
licen...
What does not requires a real estate license? 
: Sale of 99 lots in a subdivision, short term rentals, sale of personally owned 
property. 
The Real Estate Commission may not impose? 
: penalties for Code of Ethics violations 
The Responsibilities of the Real Estate Commission are? 
: Enforcing the...
Preview 1 out of 4 pages
Add to cartWhat does not requires a real estate license? 
: Sale of 99 lots in a subdivision, short term rentals, sale of personally owned 
property. 
The Real Estate Commission may not impose? 
: penalties for Code of Ethics violations 
The Responsibilities of the Real Estate Commission are? 
: Enforcing the...
When acting as a property manager for a Principal, the brokerage relationship is which 
of the following? 
: Exclusive agency 
Every licensee must meet disclosure requirements to any client. Disclosure must 
include which of the following? 
: Disclosure of any conflict of interest, description of ...
Preview 1 out of 3 pages
Add to cartWhen acting as a property manager for a Principal, the brokerage relationship is which 
of the following? 
: Exclusive agency 
Every licensee must meet disclosure requirements to any client. Disclosure must 
include which of the following? 
: Disclosure of any conflict of interest, description of ...
Licensees have how many days to respond to a complaint by the Real Estate 
Commission? 
: 10 days 
The deed has been signed by the grantor 
: Title is said to pass in New Mexico when.... 
If a broker has not accounted for a security deposit within the required 30 days, and the 
tenant files suit, ...
Preview 1 out of 3 pages
Add to cartLicensees have how many days to respond to a complaint by the Real Estate 
Commission? 
: 10 days 
The deed has been signed by the grantor 
: Title is said to pass in New Mexico when.... 
If a broker has not accounted for a security deposit within the required 30 days, and the 
tenant files suit, ...
Which of the following requires a real estate license? 
: Sale of timeshare units 
The New Mexico real estate commissions may not impose 
: Penalties for code of ethics violations 
The responsibilities of New Mexico real estate commissions do not include 
: Regulating brokerage fees 
The governor of...
Preview 1 out of 4 pages
Add to cartWhich of the following requires a real estate license? 
: Sale of timeshare units 
The New Mexico real estate commissions may not impose 
: Penalties for code of ethics violations 
The responsibilities of New Mexico real estate commissions do not include 
: Regulating brokerage fees 
The governor of...
54321 NMREC 
: 5 appointed members of the state and serve for 5 yrs 
4 must be licensed RE brokers 
3 consecutive years as state resident 
2 (no more than) 
1 Unlicensed member of the public 
RE Broker functions 
: Buying 
Selling 
Leasing/Renting 
Auctioning 
Exchanging 
Listing 
Negotiating 
Deal...
Preview 4 out of 61 pages
Add to cart54321 NMREC 
: 5 appointed members of the state and serve for 5 yrs 
4 must be licensed RE brokers 
3 consecutive years as state resident 
2 (no more than) 
1 Unlicensed member of the public 
RE Broker functions 
: Buying 
Selling 
Leasing/Renting 
Auctioning 
Exchanging 
Listing 
Negotiating 
Deal...
Members of National Association of Realtors (NAR) 
: Voluntary trade organization that licensees may join and subscribe to a specific 
code of ethics, enforce the code, through local boards and associations. 
New Mexico Real Estate Commission has the following requirements 
: Consists of 5 members,...
Preview 2 out of 8 pages
Add to cartMembers of National Association of Realtors (NAR) 
: Voluntary trade organization that licensees may join and subscribe to a specific 
code of ethics, enforce the code, through local boards and associations. 
New Mexico Real Estate Commission has the following requirements 
: Consists of 5 members,...
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