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2023 New Mexico Broker Basics exam with verified solutions
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2023 New Mexico Broker Basics exam with verified solutions
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2023 New Mexico Broker Basicsexam with verified solutions
Which of the following REQUIRES a real estate license? - answer Sale of
time-share units
The New Mexico Real Estate Commission may NOT impose - answer
penalties for Code of Ethics violations
The responsibilities of the New Mexico Real Estate Commission do NOT
include - answer regulating brokerage fees
The governor of the State of New Mexico - answer fills vacancies on the
New Mexico Real Estate Commission for unexpired terms
Paying a referral fee to an unlicensed person for information leading to a
listing - answer is a violation of the license law
A broker's license can be revoked if the broker - answer fails to acount
for funds that belong to others
Which of the following are exempt from the provisions of the real estate
license law? - answer All of these
Once a Notice of Contemplated Action (NCA) is issued by the Commission,
the respondent has how many days to respond to the Commission to
request a hearing? - answer 20 day
The MAXIMUM fine the Commission may impose is - answer $1,000 per
violation
, Brokerage office signage MUST do all of the following EXCEPT - answer be
legible
An associate broker involved in a real estate transaction may accept
compensation from - answer the real estate firm's qualifying broker
Records generated in connection with real estate matters processed
through a brokerage - answer must be made available to the Commission
upon request
An unlicensed assistant may do which of the following? - answer Host an
open house with their responsible person present
Licensees are notified of impending action against their license by -
answer a Notice of Contemplated Action (NCA)
An associate broker is REQUIRED by rule to do all of the following EXCEPT -
answer register their trade name with the NMREC
A broker who prepares a purchase agreement MUST give a copy of this
signed document to the buyer - answer as soon as practically possible
What information MUST a broker provide to the NMREC staff members who
are conduction an investigation of a filed complaint? - answer All
information requested
Which of the following is NOT a circumstance that would allow the NMREC
to refuse to renew the license of a broker? - answer There is a
disciplinary action pending against the broker
If an associate broker, employee, or partner violates a license law or
NMREC rule, the qualifying broker's license could be revoked if they -
answer were the broker-in-charge at the time of the violation
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