Congratulations on passing the New Mexico broker exam. Your next steps will be to submit your fingerprints for a background check. You also need to begin the process of interviewing with licensed real estate employing brokers. Purchase E&O insurance or ask your qualifying broker to provide a Certificate of Insurance regarding current coverage. Finally, you have six months to turn in the license application form found at the end of the Candidate Information Bulletin or on the NMREC website under forms and to pay the non-refundable license application fee.
Related FAQs
The New Mexico Broker Pre-licensure Exam consists of a national and a state section. The national selection asks 75 questions, and you must answer 60 correctly. The state selection has 50 questions, and you must answer 38 correctly. There may be 5 to 10 unscored experimental questions.
You will be tested on national and state real estate-related content. Topics include property ownership, land use controls, financing, market analysis, property disclosures, and contracts. State-specific questions ask about the NM Commission, licensing, regulatory requirements, broker duties, and specific NM topics.
You don't need to, but you can. Only non-programmable calculators that are silent, battery-operated, do not have paper tape printing capabilities, and do not have a keyboard containing the alphabet will be allowed in the examination site.
You will need to bring (2) forms of identification. One must be state or federal government-issued, like a driver’s license or passport. The secondary form can be another primary ID or something which contains your signature, like a credit or debit card.
PSI can accommodate testing modifications in accordance with the ADA. Anyone requesting accommodations must fill out the accommodations request form and submit documentation from a medical authority or specialist about their limitations.
No electronic devices are allowed in the testing room. Personal belongings must be placed in the on-site secure storage or stored in your vehicle. No food or drink is allowed in the testing room. You will be asked into your pockets and lift up the ends of any sleeves to show you are not concealing anything.
Congratulations on passing the exam. Your next steps are to: ● Be hired by a New Mexico qualified broker ● Submit fingerprints for a background check ● Purchase E&O insurance ● Apply for your license
Part of your broker license application requirement is to turn in the written score report showing that you have passed both sections of the New Mexico licensing exam; you can't be approved for a license without this.
If you fail all or part of the New Mexico broker license exam, you have 90 days to pass the test. You can take it as many times as you need to within that 90 days.
You'll know how you did on your New Mexico broker licensing exam as soon as you finish. Your score will appear on the screen, and you'll leave the testing center with a printed score report. If you have failed one or both test sections, you will see diagnostic information on your strengths and weaknesses.
Yes, you can take the New Mexico real estate broker exam again. Just keep in mind you only have 90 days to pass the test after you take it the first time.
Wait 24 hours before trying to reschedule your New Mexico broker exam. Then you can log on to your PSI account or call PSI at 855-557-0621 to schedule your retake. You'll have to pay the examination fee of $95.
You can just take the failed section, but you'll still pay the full $95 examination fee. You have to pass your retake within 90 days of your first test.