semplr.

Exams · Certifications · Licensing

Real Estate Salesperson Exam — National Portion

Exemptions (NM): practice questions

Our Real Estate (National) bank has 3 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

Start the free mock exam

Question 1 · New Mexico

An owner selling their own land is exempt from licensing unless the offering is a subdivision of how many parcels?

  1. 25 or more
  2. 100 or more
  3. 50 or more
  4. 1,000 or more
Show the answer

B. 100 or more — NMSA 1978 61-29-2(C)(1).

Question 2 · New Mexico

An unrelated attorney-in-fact under a power of attorney is exempt for no more than how many transactions a year?

  1. Five
  2. Two
  3. Four
  4. One
Show the answer

B. Two — NMSA 1978 61-29-2(C)(3).

Question 3 · New Mexico

Under what condition may a foreign broker act as a broker in New Mexico?

  1. For any property, once a referral fee is agreed with a local broker
  2. For any property type, after filing a consent to service of process with the state
  3. For residential property only, if the home state offers reciprocity
  4. Only for commercial property, under a written deal-specific pact with an NM QB
Show the answer

D. Only for commercial property, under a written deal-specific pact with an NM QB — NMSA 1978 61-29-16.1(A).

More Real Estate (National) topics