New Mexico Broker Exams Pack Questions & 100% Correct Answers | Latest Update | Graded A+

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...

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 ...

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 ...

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...

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 ...

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...

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...

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...

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 ...

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, ...

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...

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...

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,...