New Mexico License Law

The NMREC Recovery Fund is designed to:

AReimburse licensees for lost commissions

BCompensate members of the public who suffer damages due to licensee misconduct✓ Correct

CFund NMREC's operating expenses

DPay for licensee continuing education

Explanation

The NMREC Recovery Fund compensates members of the public who suffer financial losses as a result of a licensed real estate professional's fraudulent or dishonest conduct.

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Key Terms to Know

Appraisal

A professional estimate of a property's market value prepared by a licensed or certified appraiser.

Net Operating Income (NOI)

The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.

Math Concepts

Commission Calculation Profit & Loss

State-Specific Concepts

Continuing Education

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