To pass the New Mexico P&C exam on your first attempt, follow a structured preparation plan: First, master core property and liability policy structures — Dwelling (DP-1 to DP-3), Homeowners (HO-2 to HO-8), Personal Auto (PAP Parts A–D), Commercial General Liability (CGL occurrence vs. claims-made), Commercial Property, and Workers' Compensation. Second, study New Mexico-specific statutes under NMSA Chapter 59A, including 25/50/10 auto minimums, UM/UIM rejection rules, 3+ employee workers' comp thresholds (1+ in construction), 90-day binder validity limits, and the New Mexico Property Insurance Program (NMPIP). Third, practice with at least 300+ scenario-based practice questions and timed mock exams until you consistently score 80% or higher, well above New Mexico's 70% passing threshold.

The New Mexico Property & Casualty producer examination administered by PSI 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.

The exam covers national insurance principles and New Mexico state-specific statutes. National topics include contract law, property valuation (ACV, replacement cost, coinsurance), negligence and tort liability, dwelling and homeowners forms, personal auto policies, commercial property, commercial general liability, businessowners policies (BOP), and workers' compensation. New Mexico-specific topics include Office of Superintendent of Insurance (OSI) regulatory authority, producer licensing regulations, 24 CE hours biennially (including 3 hours in ethics and 3 hours in live/classroom format), 3-year transaction record retention, 25/50/10 auto minimums, cancellation/nonrenewal notice rules, and the New Mexico Property and Casualty Insurance Guaranty Association ($100,000 cap per claim).

The New Mexico P&C examination fee is $75 per attempt, payable directly to PSI Services when scheduling. The examination is administered at authorized PSI test 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.

New Mexico does not mandate classroom pre-licensing education hours by statute (self-study is permitted). To obtain a resident Property & Casualty producer license, you must: (1) be at least 18 years of age and a New Mexico resident, (2) pass the PSI Property & Casualty licensing examination with a score of 70% or higher, (3) submit digital fingerprints for state and FBI criminal background checks through the approved vendor (approx. $59 fee), and (4) submit your resident producer application electronically via NIPR (nipr.com) with the state licensing fee of $30.

New Mexico mandates minimum auto liability limits of 25/50/10 ($25,000 bodily injury per person, $50,000 bodily injury per accident, $10,000 property damage). Workers' Compensation is compulsory for employers with 3 or more regular employees, but is mandatory starting at 1 employee for construction contractors. Residual high-risk property coverage is provided through the New Mexico Property Insurance Program (NMPIP / FAIR Plan under NMSA § 59A-29). The New Mexico Property and Casualty Insurance Guaranty Association covers insurer insolvency claims up to $100,000 per claim with a $100 deductible, while providing full statutory coverage for Workers' Compensation.