New Mexico Insurance Prelicensing Requirements

NEW MEXICO INSURANCE PRELICENSING INFORMATION

  • New Mexico does not require potential agents to take and complete a state approved prelicensing course before taking their licensing exam. This being said, it is highly recommended that potential agents take and complete a state-specific test preparation course before taking their licensing exam.

LICENSING EXAM INFORMATION

  • The exam is multiple choice and is given on a computer

EXAM FEE

  • The exam fee is $75

PASSING SCORE REQUIRED

  • 70%

EXAM BREAKDOWN

NEW MEXICO LIFE INSURANCE

  • 100 questions

NEW MEXICO ACCIDENT AND HEALTH INSURANCE

  • 100 questions

NEW MEXICO LIFE, ACCIDENT AND HEALTH

  • 150 questions

NEW MEXICO PROPERTY INSURANCE

  • 100 questions

NEW MEXICO CASUALTY INSURANCE

  • 100 questions

NEW MEXICO PROPERTY, VEHICLE AND CASUALTY

  • 150 questions

EXAM LOCATIONS

Computerized exams are given at PSI Testing Centers Monday- Saturday and select locations on Sunday.

FREQUENTLY ASKED QUESTIONS

HOW DO I APPLY FOR MY LICENSE?

Before scheduling an examination, all candidates must complete and submit the license application (Form 210) along with any other documentation and their Examination Registration Form (found at the end of the Candidate Bulletin) to the New Mexico PSI Processing Center. New Mexico forms and applications can also be found at:
http://www.osi.state.nm.us/ 
Passing exam scores are submitted to the Office of Superintendent of Insurance and upon receipt your license will be issued. Applications are valid for six months.

IF I DON'T PASS IS THERE ANY WAITING PERIOD THAT APPLIES BEFORE I CAN RETAKE THE INSURANCE EXAM?

This computerized exam is scored immediately upon completion of the exam. If a candidate fails they must pay a reexamination fee and retake the exam. If a candidate fails an exam twice, they must wait 30 days before re-examination. If a candidate fails the exam an additional two times (after the 30 day waiting period), they must wait six months before re-examination and submit a new application form, fees, registration form and registration fees.