Key Takeaways
- New Mexico does NOT require pre-license education - candidates can go directly to the exam
- PSI Services LLC administers New Mexico insurance licensing exams (as of October 2024)
- The Life exam has 100 questions with a 2-hour time limit
- Passing score is 70% on all New Mexico licensing exams
- Exam attempts limited to 4 per 12-month period; 6-month wait after 4th failure
New Mexico Producer Licensing Requirements
New Mexico has specific requirements for obtaining a Life, Health, or combined insurance license.
Pre-License Education Requirements
No Pre-License Education Required
| State Requirement | New Mexico |
|---|---|
| Pre-License Education | NOT REQUIRED |
| Recommended | Self-study highly recommended |
| Minimum Age | 18 years old |
Key Points:
- New Mexico does NOT require pre-license education
- Completing an exam prep course is highly recommended due to exam difficulty
- Self-study materials are available from various providers
- No mandatory classroom hours before taking the exam
Exam Tip: While New Mexico doesn't require pre-license education, the exam covers complex material. Most successful candidates complete a comprehensive exam prep course.
Examination Requirements
New Mexico insurance licensing examinations are administered by PSI Services LLC (as of October 2024):
Life & Health Exam Details
| Exam Type | Questions | Time Limit | Fee |
|---|---|---|---|
| Life Insurance | 100 | 2 hours | Varies |
| Accident & Health | 100 | 2 hours | Varies |
| Combined Life & Health | 150 | 2.5 hours | Varies |
Exam Requirements
| Requirement | Detail |
|---|---|
| Passing Score | 70% |
| Testing Provider | PSI Services LLC |
| Score Validity | 12 months |
| Exam Attempts | 4 per 12-month period |
| After 4th Failure | 6-month waiting period |
| Scheduling | psiexams.com or call (855) 560-3714 |
Important: You are limited to 4 exam attempts per 12-month period. After failing 4 times, you must wait 6 months before attempting again.
Examination Process
Scheduling the Exam
- Register with PSI at psiexams.com or call (855) 560-3714
- Choose testing option:
- PSI testing center
- Remote online proctored exam
- Pay exam fee
- Schedule appointment
Exam Day
What to Bring:
- Two forms of valid ID (one with photo and signature)
- Acceptable: Driver's license, passport, military ID
- Arrive early to complete check-in
Testing Rules:
- No cell phones or electronic devices
- Calculator provided on screen
- Results displayed immediately upon completion
Fingerprinting Requirements
New Mexico requires fingerprinting for first-time resident candidates:
Fingerprinting Process
| Step | Requirement |
|---|---|
| Who | First-time resident exam candidates |
| When | Before or during licensing process |
| Method | OSI-approved fingerprinting service |
| Background Check | State and FBI |
License Application
After passing the exam:
Application Steps
- Complete fingerprinting (if first-time resident candidate)
- Apply through NIPR (National Insurance Producer Registry)
- Pay license application fee ($30)
- Await OSI approval (typically within 10 working days)
Application Timeline
| Item | Timeframe |
|---|---|
| Exam Score Validity | 12 months |
| License Processing | Within 10 working days |
| Application Fee | $30 |
License Types
| License Type | What You Can Sell |
|---|---|
| Life | Life insurance and annuities |
| Accident & Health | Health, disability, LTC insurance |
| Property | Property insurance |
| Casualty | Liability insurance |
| Personal Lines | Personal auto, homeowners |
Appointments
After receiving your license:
- Must be appointed by each insurer you represent
- Insurer files appointment with OSI
- Cannot transact business until appointment is filed
- Maintain appointments with all companies you represent
Special Training Requirements
Annuity Training
| Requirement | Detail |
|---|---|
| Training | Annuity suitability/best interest training |
| Timing | Before selling annuities |
| Frequency | Verify current requirements with OSI |
Long-Term Care Training
| Training Type | Hours | Frequency |
|---|---|---|
| Initial Training | 8 hours | One-time before selling LTC |
| Ongoing Training | 4 hours | Every renewal period |
Does New Mexico require pre-license education before taking the insurance licensing exam?
What is the passing score for New Mexico insurance licensing exams?
How many exam attempts are allowed per 12-month period in New Mexico?
Who administers insurance licensing exams in New Mexico as of 2024?