New Mexico Life & Health Insurance License Exam Overview
The New Mexico Life & Health Insurance License Exam is administered by PSI on behalf of the New Mexico Office of Superintendent of Insurance (OSI). New Mexico operates beWellnm, a state-based health insurance exchange.
Exam Format at a Glance
| Component | Details |
|---|---|
| Total Questions | 150 multiple-choice |
| Time Limit | 2.5 hours (150 minutes) |
| Passing Score | 70% |
| Testing Vendor | PSI |
| Exam Fee | $45 |
| Pre-licensing Education | Not required (recommended) |
Why Get Licensed in New Mexico?
- State exchange — beWellnm marketplace
- Growing Albuquerque — Healthcare sector
- Diverse population — Unique insurance needs
- Regional opportunities — Southwest market
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Key Topics Covered
Life Insurance (30%)
| Feature | NM Standard |
|---|---|
| Grace Period | 30 days |
| Incontestability | 2 years |
| Free Look | 10 days |
Health Insurance (30%)
- beWellnm (state-based exchange)
- New Mexico Medicaid (Centennial Care)
- CHIP
NM Insurance Regulations (15%)
- New Mexico Statutes Chapter 59A
- OSI authority
| Topic | NM Requirement |
|---|---|
| Pre-licensing | Not required |
| CE requirement | 24 hours/2 years |
| Passing score | 70% |
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