New Mexico Insurance Exam Cheat Sheet
Unlock the official New Mexico Life & Health exam cram sheet to master key state regulations, policy definitions, and exam-day metrics. Or, start with our free New Mexico practice questions to test your knowledge.
What's Covered on the New Mexico Life & Health Exam
Key exam lines — know what each one tests
Life Insurance Line
- Term, Whole, Universal & Variable Life policies
- Annuities (fixed, variable, immediate, deferred)
- Beneficiary designations & settlement options
- Policy riders: waiver of premium, AD&D, COLA
- Replacement rules & suitability requirements
- Grace period: 31 Days (or 1 Month) | Free-look: 10 Days (Life/Health) (30 Days (Full Refund))
Health Insurance Line
- Individual & group health, HMO, PPO, EPO, POS plans
- Medicare Parts A, B, C, D & Medigap supplements
- Medicaid & CHIP eligibility rules
- COBRA, HIPAA, ACA & continuation provisions
- Disability income: STD & LTD elimination periods
- Grace periods: 7 / 10 / 31 days by premium mode
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Frequently Asked Questions
Q:How do I pass the New Mexico Life, Accident & Health insurance exam on my first try?
To pass the New Mexico Life & Health licensing exam on your first attempt, follow a disciplined study strategy: First, systematically study core policy forms — term, whole, and universal life; major medical; disability income; Medicare supplement; and annuities. Second, master New Mexico-specific statutes under NMSA Chapter 59A, including OSI powers, producer licensing, 30-day replacement free-look periods, 24-hour CE rules (3 ethics / 3 live), and Guaranty Association limits. Third, practice with at least 300+ scenario-based questions and timed mock exams until you consistently score 80% or higher, giving you a comfortable safety margin above New Mexico's 70% passing threshold.
Q:How many questions are on the New Mexico Life & Health exam and what is the passing score?
The combined New Mexico Life, Accident & Health insurance producer examination (PSI Series 18-27) contains 150 multiple-choice questions with a 2-hour and 30-minute (150 minutes) time limit. To pass, you must achieve a scaled score of at least 70%, which corresponds to answering at least 105 out of 150 questions correctly. Single-line Life-Only and Accident/Health-Only exams are also available for candidates pursuing restricted authorities.
Q:What topics are covered on the New Mexico Life, Accident & Health insurance exam?
The examination covers national insurance principles and New Mexico state-specific statutes. National content includes basic contract law, term and permanent life products, riders, settlement options, group plans, individual and group health coverages, disability income, Medicare supplements, LTC, and annuities. State-specific content tests NMSA Chapter 59A and NMAC Title 13, including the Superintendent's regulatory authority, producer licensing rules, fiduciary handling of premium funds, unfair trade practices (twisting, rebating, defamation), replacement mandates, and the New Mexico Life and Health Insurance Guaranty Association.
Q:How much does the New Mexico insurance exam cost and where do I take it?
The New Mexico insurance examination fee is $75 per attempt, payable directly to PSI Services when scheduling. The examination is administered at authorized PSI testing centers throughout New Mexico (including Albuquerque, Santa Fe, Las Cruces, Farmington, Roswell, and Clovis) as well as via remotely proctored online testing through PSI Bridge. You can register and schedule online through the PSI New Mexico Insurance Portal (test-takers.psiexams.com/nmins). On exam day, you must present a valid, non-expired government-issued photo ID.
Q:What are the licensing steps and pre-licensing education requirements in New Mexico?
New Mexico does not mandate classroom pre-licensing education hours by statute (self-study is permitted). To obtain a resident producer license, you must: (1) be at least 18 years of age and a New Mexico resident, (2) pass the PSI licensing examination with a score of 70% or higher, (3) submit digital fingerprints for state and FBI criminal history checks through IdentoGO / approved vendor (approx. $59 fee), and (4) submit your official resident producer application electronically via NIPR (nipr.com) with the state licensing fee of $30.
Q:What happens if I fail the New Mexico insurance exam and what is the retake policy?
If you do not pass the New Mexico insurance examination, PSI will provide an immediate diagnostic score report breaking down your performance percentage by section. There is no statutory limit on the number of examination retakes in New Mexico, and there is no mandatory waiting period for early attempts. You can reschedule your next attempt through the PSI candidate portal as soon as test appointments are available. The full $75 examination fee applies for each attempt. Use your diagnostic score breakdown to focus additional study on weak topic areas prior to your retest.