New Mexico Real Estate Practice Exam

New Mexico associate broker candidates take one PSI appointment covering two scored sections delivered back to back. The national section includes 75 multiple-choice questions weighted to 80 points over 120 minutes. Some national items count for two points, so accuracy matters more than a simple question tally. The New Mexico state section includes 50 multiple-choice questions over 60 minutes. PSI sets an independent 75% passing standard on each portion: at least 60 of 80 national points and 38 of 50 state questions correct. PSI may also include five to ten unscored experimental questions that do not affect your score. Your pass or fail status for each section displays immediately after the exam. Remote online proctoring and in-person testing at PSI centers in Albuquerque, Farmington, Las Cruces, Roswell, Santa Fe, and selected out-of-state PSI sites are available when you register.

PSI publishes separate content outlines for the national broker portion and the New Mexico state portion. You must meet the 75% cutoff on each section independently, so weak performance on New Mexico statutes can fail the attempt even if national math and agency items feel solid.

• National portion (75 scored questions, 80 points): property ownership, land use controls, valuation and market analysis, financing, contracts, agency, property disclosures, property management, transfer of title, practice of real estate, and real estate calculations per PSI's national broker content outline.
• Practice of Real Estate (12% of national weight) and Property Ownership (10%) carry the heaviest national topic weights; pair federal fair housing drills with contract and agency scenarios under timed conditions.
• New Mexico Real Estate Commission (6 items): commission purposes, powers, duties, license law violations, investigations, hearings, penalties, and appeals.
• Broker duties and brokerage relationships (15 items): honesty, written disclosure of adverse material facts, confidentiality, types of brokerage relationships available in New Mexico, and compliance with commission regulations on advertising, recordkeeping, and trust accounts.
• Additional state-required topics (7 items): New Mexico property taxes, mechanic's liens, septic systems, water rights (well and surface rights), the New Mexico Human Rights Act, PID disclosures, and HOA disclosures.

New Mexico associate broker candidates must complete NMREC-approved education and receive PSI eligibility before testing, then submit an online license application after passing both exam portions. Review the current NMREC instructions and PSI Candidate Information Bulletin before applying because fees and hour requirements can change.

• Complete 90 credit hours of NMREC-approved pre-licensing education within three years of applying: 30 hours each in Real Estate Principles and Practice, Real Estate Law, and Broker Basics. Submit school completion certificates while applying online at test-takers.psiexams.com/nmre.
• Be at least 18 years old and a legal resident of the United States before NMREC issues an associate broker license. There is no age minimum to sit for the exam itself.
• Register with PSI after email confirmation of eligibility. Pay the $95 examination fee at scheduling. The fee covers one or both portions and applies to each attempt. Examination fees are non-refundable and non-transferable.
• Pass both the national and state portions with at least 75% on each section within 90 calendar days of passing the first section. If you fail one portion, you may retake only the failed section within that window.
• After passing both portions, apply online through NMREC within six months. Submit PSI score reports, fingerprint documentation, and a certificate of errors and omissions insurance if you plan to be an active broker. NMREC charges a non-refundable license application fee not to exceed $270, separate from PSI examination fees.

Read PSI candidate bulletin 998 first, then drill national concepts such as contracts, agency, financing, and fair housing under timed conditions that respect the 120-minute national limit. Block separate study time for NMREC licensing rules, brokerage relationship disclosures, water rights, property taxes, and PID or HOA requirements because those topics dominate the 50-item state portion. If you pass one section but fail the other, schedule the retake promptly because the 90-day completion window starts on your first passing score. When you want interactive reps on Casa Academy today, open the free practice path labeled as a temporary Florida demo. Those items help you practice pacing and review explanations, but they do not replace New Mexico statute study or PSI outline review.