New Mexico Real Estate Exam: Everything You Need to Know

Scheduling your New Mexico real estate exam can get pretty confusing. That’s why we organized this ultimate guide to help you apply, schedule, and pass the state exam. Here’s what we’ll cover: 

• How to schedule the New Mexico Real Estate Licensing exam 
• The requirements to register for the exam
• The cost of the exam
• Where you can take the exam 
• What is covered on the exam 
• The difficulty level of the exam 
• Best tips to pass the exam 

How to Schedule the New Mexico Real Estate Licensing Exam

To schedule the real estate associate broker examination in New Mexico, all aspiring candidates must meet the following requirements: 

• Be at least 18 years of age
• Be a legal resident of the United States 
• If currently or previously licensed in another state, submit a certified license certificate
• Successfully completed 90 credit hours of real estate pre-licensing education.

This consists of:

• One 30-credit-hour course in Real Estate Principles and Practice
• One 30-credit-hour course in Real Estate Law
• One 30-credit-hour Broker Basics

A written course waiver from the Commission Education Director can also serve to make this requirement. 

Before registering for the exam, candidates must apply for eligibility with PSI by filling out and submitting the Eligibility/Examination Registration Form found in the Candidate Information Bulletin. This form should be submitted to the following address: 

PSI
3210 E Tropicana
Las Vegas, NV 89121
(855) 557-0621 • Fax (702) 932-2666
Email: nmreapp@psionline.com

PSI will review your application to determine your eligibility for the exam. If found eligible, you’ll receive an email confirmation from PSI. You can then schedule your exam by visiting the PSI website. If you’re a new user, you must create an account. Simply follow the step-by-step instructions to create your account, choose your examination program, and register. 

You can also call PSI at (855) 557-0621 to schedule an examination appointment. You’ll be required to pay an exam fee of $95 during registration. Note: this fee is non-refundable and non-transferable. 

Where Do You Take the New Mexico Real Estate License Exam?

Candidates for the New Mexico real estate licensing exam are to take their exams at any of the designated PSI test centers in the state. These locations include: 

• Albuquerque
• Farmington
• Las Cruces
• Roswell
• Santa Fe

The exam can also be taken in PSI test centers in regions across the United States. Simply enter your zip code during registration, and the closest site to you will appear.

Can You Take the Exam Online?

No, you cannot take the New Mexico real estate licensing exam online. Candidates for this exam will be required to go to PSI testing centers located in New Mexico. The addresses of these locations have been provided above. 

What to Bring on the Day of Your Exam

On the day of your New Mexico real estate exam, you are expected to bring the following:

Two forms of identification. The primary ID must be government-issued, current, and contain your name, signature and photograph. Examples of accepted primary IDs include: 

• State-issued driver’s license  
• State-issued identification card  
• US Government Issued Passport
• US Government Issued Military Identification Card  
• US Government Issued Alien Registration Card  
• Canadian Government Issued ID 

Accepted forms of secondary identification include:

• Credit Card (must be signed)
• Social Security Card
• Silent non-programmable calculator

You are advised to attend your appointment at least 30 minutes early on the exam day. This additional time is for identification and sign-in and for you to become familiar with the examination procedure.

What is on the New Mexico Real Estate Exam?

The New Mexico real estate associate broker licensing examination is made up of two sections, namely: 

• The national portion, comprising questions based on national real estate principles and practice
• The state portion, comprising questions based on New Mexico real estate laws, rules and regulations 

National Portion

Here are the topics you will come across in the national portion of the associate broker exam, with the percentage of questions you can expect per topic: 

• Property Ownership; 10%
• Land Use Controls and Regulations; 5%
• Valuation and Market Analysis; 7%
• Financing; 8%
• General Principles of Agency; 11%
• Property Disclosures; 7%
• Contracts; 18%
• Leasing and Property Management; 5%
• Transfer of Title; 7%
• Practice of Real Estate; 14%
• Real Estate Calculations; 8%

State Specific Portion 

Here are the topics you will come across in the state portion, with the number of questions you can expect per topic:

• Real Estate Commission; 6
• Licensing Requirements; 7
• Real Estate Commission Regulations; 15
• Broker Duties, Disclosure and Brokerage Relationships; 15
• Additional State-Required Topics; 7

Will There Be Math on the Exam?

Yes, there will be math on the New Mexico real estate licensing exam. These math questions will be found in the national portion and will be related to:

• Basic math concepts
• Calculations for transactions
• Calculations for valuation,

Keep in mind that solving these math problems could be difficult and time-consuming. It is, therefore, best to save these questions for later while you continue to answer the other questions unless the answers are easy. This allows you to answer more questions and make the most of your allocated time. 

Is the New Mexico Real Estate Exam Hard?

As can be expected of any professional certification exam, the New Mexico real estate exam is hard and will only get harder for candidates who are not well prepared. This is why it is important to study hard and get all the help that you can before taking the exam. 

How Many Questions Are on the New Mexico Real Estate Exam?

The New Mexico real estate sales associate broker exam has a total of 125 multiple-choice questions. 75 of these questions fall under the national portion, while the remaining 50 fall under the state-specific portion. Candidates are given a total of 3 hours to complete the exam -2 hours for the national portion and 1 hour for the state portion. 

Note that about 5-10 experimental questions may be added to a candidate's test. These questions will not be scored, nor will the time taken to answer them count against candidate testing time. These questions are used to evaluate the quality of the exam and develop future licensing examinations. 

The passing score for this exam is 75%, which means you need to get at least 60 answers right on the national portion and 38 on the state portion. After submitting the exam, your score will be displayed on the screen, and a score report can be printed at the examination site. 

If you fail, your score report will contain a diagnostic report highlighting your strengths and weaknesses in the examination, helping you to prepare better for a retake. 

How Many Times Can You Take the Real Estate Exam?

If you fail the entire New Mexico real estate exam or just a portion of it, there is no limit on the number of times you can retake it as long as you do it within 90 days of the first examination. If you do not pass both examinations within 90 days, you must retake both examinations. 

You’ll be required to pay the examination fee of $95, whether you’re taking both portions or one portion. 

How to Pass the New Mexico Real Estate Exam

To pass the New Mexico real estate exam on the first trial, candidates must study hard for the exam, drilling themselves on all the topics in both sections of the exam from which questions will be set. Here are a few tried and true study strategies that you can implement right now. They include: 

Create a Study Schedule 

When preparing for an exam like the New Mexico real estate exam, creating a study schedule may be just what you need to balance your study sessions with your other daily commitments. A well-planned study schedule will improve your daily time management by ensuring that every minute of your time is accounted for.  

Do not forget to input frequent breaks into your study schedule to prevent burnout. It's also best to set your study time to periods of the day when you are less busy or distracted, such as early in the morning and late at night. We recommend studying for a little bit every night or at least every other night.

Use Acronyms and Mnemonic Devices

Acronyms and mnemonic devices are memory aids that break down complex information into smaller and simpler chunks that are easier for the brain to process and remember. Acronyms are formed by taking the first letters of each word in a phrase and forming a word with it. A good example of a real estate acronym is CCIM, which stands for Certified Commercial Investment Member. 

Similarly, mnemonic devices are formed by associating a piece of information with something that can be easily related to it. A good mnemonic device detailing the four essential characteristics a property must possess to have value would be “Don’t Utter Silly Things.”

• Don’t for Demand
• Utter for Utility
• Silly for Scarcity
• Things for Transferability

Join a Study Group 

Joining a study group can significantly increase your chances of success in the exam by improving your learning process. It provides you with like-minded people to be accountable to, helping you to be more intentional. Studying in a group can also boost your motivation to study and pass, born out of healthy competition.

Get Guided Help

There’s a lot of ground to cover when you study for the real estate exam. That’s why the quickest and easiest way to study is with our New Mexico exam prep package.

It’s an online study program that comes with unlimited practice exams, vocabulary flashcards, and an e-Book study guide (that comes with the same math formulas you’ll need to know for the exam!) It also comes with:

• 1,500 New Mexico real estate exam practice questions
• Customizable practice state exams
• Vocabulary flashcards
• Video explanations
• E-book study guide

Our exam prep package starts at $49.99. Since retaking the exam will cost you $95, this is a great investment to help you pass on your first attempt.

Final Thoughts on the Real Estate Exam in New Mexico 

The New Mexico real estate exam is compulsory for all individuals who want to be licensed real estate brokers. Passing this exam requires careful preparation and a solid understanding of real estate concepts and practices. To increase your chances of succeeding on this exam, follow the tips above and enroll in a reputable real estate school.