New Mexico Associate Broker Exam Prep Edge Free Assessment for NM Real Estate Exam Prep

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Below are free New Mexico real estate practice exam questions that will closely resemble your licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.

1. NMREC has many duties, including _______.

  1. "Awarding financial aid to housing applicants
  2. Conducting records audits on brokerage offices, education providers, and individuals
  3. Creating their own school and writing the curriculum for licensee education
  4. Establishing compensation agreements with non-resident licensees

2. Which of the following items will you find on a disclosure certificate?

  1. A directive that the buyer has seven days after receiving the certificate to cancel the purchase agreement without penalty
  2. A statement that the disclosure has been reviewed and is free of errors
  3. A statement that the HOA is run by a professional management company
  4. The prorated amount of HOA fees that the buyer will owe on the purchase date

3. A New Mexico licensee is required to disclose when acting as a transaction broker in a transaction _______.

  1. If the brokers license is currently inactive
  2. If the property has been owned by the seller for less than 3 years, the price that the seller paid.
  3. That the broker holds an ownership interest in the property.
  4. That the broker thinks that the property is worth more than the listed price.

4. New Mexico mechanic's lien laws are designed to protect _______.

  1. Homeowners whose houses may acquire one or more liens
  2. Lawyers representing the homeowners
  3. Subcontractors and suppliers
  4. The state of New Mexico

5. Which of the following courses must a New Mexico associate broker complete within the first year of licensure?

  1. Broker basics course
  2. Broker office administration course
  3. Ethics course
  4. New broker business practices course

6. A broker in your New Mexico firm tells you that having a buyer sign a written buyer brokerage agreement is sufficient for creating an agency relationship. Is this true?

  1. "No, because you also need to check the “agent” box
  2. No. The agreement must specifically indicate that an agency relationship is intended.
  3. No. The consumer must also initial next to the checked “client” box.
  4. Yes, as long as the consumer orally agrees to a representation relationship

7. Which of the following does seller's broker Syd owe to another broker's client/customer who is involved in a transaction with Syd's client?

  1. Advise the buyer to consult an attorney as needed.
  2. Advise the buyer to get an expert’s opinion.
  3. Keep the buyer’s information confidential.
  4. Perform all duties outlined in any written agreement between the two of you.

8. Within how many days must a New Mexico qualifying broker communicate brokerage office address or phone number changes to NMREC?

  1. 10 days
  2. 14 days
  3. 30 days
  4. Seven days
Answers: 1. B, 2. D, 3. C, 4. C, 5. D, 6. C, 7. D, 8. A

 

For a more comprehensive view into the types of questions you can expect on the exam, sign up for our free assessment. You’ll have the chance to review a 99-question real estate practice exam at no cost to you. Note that answers are only provided upon purchasing Exam Prep.

If you’re ready to feel confident about your upcoming licensing exam, you can purchase our New-Mexico real estate Exam Prep package. By purchasing one of our packages, you not only get to see the results from your free assessment, but you’ll also have access to an innovative Exam Prep Edge program that will put you in the best position to pass your test the first time around.

Here's What You Need to Know About Your Free Assessment

What is it?

Your free assessment consists of access to the Exam Prep Edge initial assessment exam that will give you immediate feedback on the topics you’ve mastered and the ones you still need to work on. Note that you’re required to purchase the program before you’re able to access the study materials or unlimited practice exams.

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It's simple. Choose the program you want to try, sign up, and you're ready to get started. We won't even ask for credit card information until you're ready to buy.

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Yes! The score from your free assessment will be saved. When you purchase the program, your progress will seamlessly transfer and you can pick up right where you left off.

What will it cost me?

Nothing at all! When we say free, we really mean it. Getting your real estate license is an investment and we want to show you how committed we are to helping you pass your exam. Take it for a test drive - you won’t be disappointed. Ready to buy?

Am I obligated to purchase by signing up?

Nope! We want you to be completely satisfied with Exam Prep Edge. You're not obligated to anything if you don't want to buy.

What happens when my free trial ends?

When you complete your free assessment, your program will be locked until you decide to purchase. If you like the program, you can purchase at any time. Get started!

 

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