NM Broker Basics Exam Questions and Answers

NM Broker Basics Exam Questions and Answers Licensees have how many days to respond to a complaint by the Real Estate Commission? - Correct Answer ️️ -10 days The deed has been signed by the grantor - Correct Answer ️️ -Title is said to pass in New Mexico when.... If a broker has not accounted for a security deposit within the required 30 days, and the tenant files suit, what could happen? - Correct Answer ️️ -Pay $250 in damages, pay attorney's fees and courts costs, and forfeit the security deposit When the transfer application is signed by the new qualifying broker; and the license, proof of insurance, and fee are received by the Commission. - Correct Answer ️️ - When may a licensee transferring offices start working for the new broker? Within 60 days - Correct Answer ️️ -When must a property manager send a final accounting to the property owners upon termination, cancellation, or expiration of the management agreement? One - Correct Answer ️️ -A licensee may sell how many manufactured houses