New Mexico Insurance License

In general, any person or business entity, who wants to sell insurance, must first obtain a New Mexico insurance license.

The purpose of this guide is to provide information to interested persons, regarding the requirements and procedures for obtaining a New Mexico insurance license.

How to get your insurance license in New Mexico

New Mexico Office of Superintendent of Insurance is the issuing department for NM Insurance licenses.

Prepare for the exam

Although most states in the US require completing pre-license education, the situation is different with New Mexico. The state does not require applicants to complete a particular number of pre-license hours or credits to be eligible for license application.

Accordingly, you are free in the studying process and may choose whatever method works better for you.

Working methods include independent study and approved courses. The former has its advantages, as you will not need to spend extra money on courses and will have the opportunity to schedule and plan your studies in your way.

The latter, on the other hand, has many good sides too. This way you will easily understand the test requirements, get relevant knowledge and guarantees for higher passing rates on your first try.

Background check and fingerprinting

Prior to getting the insurance license, applicants must provide fingerprints, which will initiate the background check process.

If your background history is “clear”, you will not have future problems connected with license issuance. It will demonstrate that you possesses the requisite truthfulness, honesty and eligibility for licensure.

Nevertheless, past felonies or crimes can affect the outcome of the license and prevent you from getting the New Mexico insurance license. In such cases, it is useful to request a formal hearing.

Note that the results will be valid for only 90 days.

Take the New Mexico licensing exam

In the process of licensure, taking the state licensing exam is another major step. You should take and pass the New Mexico insurance exam.

Follow this link to register and schedule an exam. Note that you will be taking one exam for each line of insurance you want to carry or specialize in.

Apply for the insurance license

When you complete the other steps, you are ready to apply for the insurance license, which you can do online.
The cost of a license to sell insurance cost New Mexico

Obtaining a license is not easy, as you must spend both money and time on the licensing process.

Before you get the insurance license, you should spend $75 for each examination attempt. Then, you should spend $44 for fingerprinting and $30 for the license application (there will also be $5 for online application service).

In case you wish to add more lines of insurance or change some details in the application, you must submit a new application with the same fees.

Is insurance license test hard in New Mexico?

Yes, the insurance test is, indeed, hard enough to pass. Nonetheless, it is not impossible and many applicants have made it through the exam.

The difficulty of the questions sometimes depends on the line of insurance you are taking the exam for. The reason for this is that some lines are easier to understand and prepare for than others. Moreover, you may have familiarity with the insurance line you chose, and that will definitely affect the outcome in a positive way.

The passing score for the exam is 70% or higher and you will have 150 minutes to answer 150 questions for each insurance (line) exam.