A New Mexico broker asks about an out-of-state broker applicant asks about an education waiver. What is the best answer?
Correct Answer
B) A qualifying out-of-state broker may seek a waiver of 60 of the 90 hours, but still must complete Broker Basics and may still need the state exam
New Mexico allows a limited prelicensure waiver for qualifying broker applicants from other jurisdictions, not a blanket waiver of all requirements. Source basis: NMRLD Real Estate Commission Licensing, Registration, and Renewal page and FAQ: 90 prelicensure hours, fingerprints, E&O, active qualifying broker affiliation, property management requirements; checked 2026-04-30.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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