Key Takeaways
- New Mexico does NOT require pre-licensing education for Life & Health insurance licenses
- The exam is administered by PSI with a 70% passing score required
- Combined Life & Health exam has 150 questions with a 150-minute time limit
- You may sit for each exam up to 4 times - after 4 failures, must wait 6 months
- The New Mexico Office of Superintendent of Insurance (OSI) regulates insurance in the state
New Mexico Life & Health Exam Overview
Welcome to OpenExamPrep's FREE New Mexico Life & Health Insurance exam prep guide. This comprehensive resource covers New Mexico-specific regulations, licensing requirements, and state insurance laws you need to know to pass your exam and begin your career as a licensed Life & Health producer.
About the New Mexico L&H Exam
The New Mexico Life & Health insurance examination is administered by PSI on behalf of the New Mexico Office of Superintendent of Insurance (OSI). The exam tests your knowledge of:
- New Mexico insurance law and regulations
- Life insurance principles and policy types
- Annuities and retirement products
- Health insurance including accident and sickness coverage
- Policy provisions and beneficiary designations
- Ethics and professional conduct
Exam Structure
| Exam Component | Life or Health (Single) | Combined Life & Health |
|---|---|---|
| Testing Provider | PSI | PSI |
| Total Questions | 100 | 150 |
| Time Limit | 120 minutes | 150 minutes |
| Passing Score | 70% | 70% |
| Exam Fee | Varies | Varies |
Note: Exams can be taken at PSI testing centers or via remote online proctored examination.
Pre-Licensing Education Requirements
No Pre-Licensing Education Required
New Mexico does NOT require pre-licensing education:
| Requirement | Details |
|---|---|
| Pre-License Hours | None required |
| Recommendation | Study courses highly recommended |
| Why Study? | Due to exam difficulty, preparation is essential |
Important: Although pre-licensing education is not required, study courses are highly recommended due to the difficulty and nature of the exam.
Basic Qualifications
To obtain a New Mexico insurance license, you must:
| Requirement | Details |
|---|---|
| Age | At least 18 years old |
| Residency | New Mexico resident for resident license |
| Exam | Pass the state licensing exam with 70%+ |
| Background Check | Fingerprinting required for first-time applicants |
Re-Examination Policy
New Mexico has a specific policy for exam retakes:
| Attempt | Policy |
|---|---|
| Attempts 1-4 | No penalty - schedule normally |
| After 4 failures | Must wait 6 months before registering again |
Warning: If you fail the same exam four times, you must wait six months before you can register for another re-examination.
Fingerprinting Requirements
First-Time Applicants
| Requirement | Details |
|---|---|
| Who | Resident candidates taking insurance exam for first time |
| When | Before submitting online license application |
| Information | Available on NM Department of Public Safety website |
Note: If you have already submitted electronic fingerprints for a previous insurance exam and continue to hold that active license, you may not be required to submit a new set of fingerprints.
License Application Process
Step-by-Step Process
-
Prepare for the Exam
- Complete recommended study course (optional but recommended)
- Review New Mexico insurance law
- Take practice exams
-
Schedule Your Exam
- Register with PSI online or call (855) 560-3714
- Pay exam fee
- Internet registration available 24 hours a day
-
Take the Exam
- Arrive 30 minutes before scheduled appointment
- Bring valid (non-expired) government-issued photo ID
- Pass with 70% or higher
-
Complete Fingerprinting (if first-time applicant)
- Complete background check BEFORE submitting application
- Follow NM Department of Public Safety procedures
-
Apply for License
- Apply online through NIPR
- Pay application fee
- Receive license from NM OSI
Total Costs
| Item | Cost |
|---|---|
| Exam Prep Course (recommended) | $150 - $350 |
| Exam Fee | Varies |
| Fingerprinting/Background Check | Varies |
| License Application Fee | Varies |
| TOTAL | ~$250 - $500 |
License Maintenance & Continuing Education
CE Requirements
| Requirement | Details |
|---|---|
| Total Hours | 24 hours every 2 years |
| General Hours | 21 hours |
| Ethics | 3 hours required |
| Renewal Date | Last day of birth month, biennially |
Classroom Requirement
New Mexico has a unique classroom requirement:
| Requirement | Details |
|---|---|
| Minimum | 3 hours must be through formal classroom or live instructor format |
| Purpose | Ensures interaction with live instructors |
CE Rules
| Rule | Details |
|---|---|
| Carryover | NOT allowed |
| Repeat Courses | Cannot retake within 36 months (3 years) |
| Recommended Completion | 90 days prior to license expiration |
| Penalty for Late CE | $50.00 penalty |
Special Training Requirements
| Training | Requirement |
|---|---|
| Annuity Suitability | One-time 4-hour Best Interest course before selling annuities |
| Long-Term Care Initial | One-time 8-hour training before selling LTC |
| Long-Term Care Ongoing | 4-hour training every 2 years after initial |
| Flood Insurance | One-time 3-hour NFIP course for P&C/Personal Lines producers |
CE Exemptions
| Exemption | Requirement |
|---|---|
| 25-Year Veterans | Licensed 25+ years without 90+ day lapse exempt from CE |
| Non-Residents | Exempt if CE completed in home state and in good standing |
New Mexico Office of Superintendent of Insurance Contact
Contact Information
| Resource | Details |
|---|---|
| Phone | (505) 827-4349 |
| Website | www.osi.state.nm.us |
| Address | 1120 Paseo de Peralta<br/>Santa Fe, NM 87501 |
Testing Information
PSI
- Website: www.psiexams.com
- Phone: (855) 560-3714 or (877) 526-6833
- Online scheduling available 24/7
- Remote proctored testing available
What This Guide Covers
This FREE study guide focuses on New Mexico state-specific content:
Chapter 1: New Mexico Insurance Regulation & Licensing
- Office of Superintendent of Insurance structure
- Producer licensing requirements
- Fingerprinting and background check process
- Disciplinary actions and prohibited practices
Chapter 2: New Mexico Life Insurance Regulations
- Life insurance policy requirements
- Standard policy provisions
- New Mexico Life & Health Insurance Guaranty Association
- Replacement regulations
Chapter 3: New Mexico Health Insurance Regulations
- Health insurance requirements
- Individual and group health coverage
- New Mexico Medical Insurance Pool
- Long-term care insurance
Chapter 4: New Mexico Ethics & Consumer Protection
- Agent and producer duties
- Unfair trade practices
- Claims handling standards
- Consumer protection laws
national Life & Health exam preparationFree exam prep with practice questions & AI tutor
Study Tips for Success
Recommended Study Timeline
| Week | Focus | Hours |
|---|---|---|
| Week 1 | National L&H principles (if not completed) | 15-20 hours |
| Week 2 | Exam prep course (recommended) | 20-30 hours |
| Week 3 | NM state law (this guide) | 10-15 hours |
| Week 4 | Practice exams and review | 10-15 hours |
| TOTAL | 55-80 hours |
Key New Mexico Facts to Remember
- Passing Score: 70%
- Pre-License Education: NOT required
- Testing Provider: PSI
- Exam Retakes: 4 allowed, then 6-month wait
- Fingerprinting: Required for first-time applicants
- CE: 24 hours/2 years (21 general + 3 ethics)
- CE Classroom: 3 hours must be live/classroom
Good luck on your exam!
Does New Mexico require pre-licensing education for Life & Health insurance licenses?
What happens if you fail the New Mexico insurance exam 4 times?
What is the passing score for the New Mexico Life & Health insurance exam?
How many hours of continuing education must be completed through classroom or live instruction in New Mexico?
Which New Mexico insurance professionals are exempt from CE requirements?
What is the minimum age requirement to obtain an insurance license in New Mexico?
What is the penalty for failing to complete CE on time in New Mexico?