New Mexico Life & Health Exam Overview

Welcome to OpenExamPrep's FREE New Mexico Life & Health Insurance exam prep guide. This resource covers the New Mexico-specific regulations, licensing logistics, and state insurance law you must know to pass the licensing examination and begin practicing as a licensed producer. It is designed to sit on top of the national Life & Health curriculum, not replace it.

About the New Mexico L&H Exam

The New Mexico Life & Health insurance examination is administered by PSI Services LLC on behalf of the New Mexico Office of Superintendent of Insurance (OSI). New Mexico licenses are issued by line of authority, so you can sit for Life alone, Accident & Health (also called Accident & Sickness) alone, or a combined Life & Health examination. Each exam blends national content (roughly two-thirds) with New Mexico state law (roughly one-third).

The exam tests your knowledge of:

• New Mexico insurance law, OSI rules, and producer-conduct standards
• Life insurance principles, policy types, riders, and dividends
• Annuities, suitability, and the best-interest standard
• Health insurance: accident, sickness, disability income, and long-term care
• Policy provisions, beneficiary designations, and contract law
• Ethics, unfair trade practices, and consumer protection

Exam Structure (verified)

Note: PSI may embed a small number of unscored pretest questions that look identical to scored items; they are not separately identified, so treat every question as if it counts. Exams are delivered at PSI test centers or by remote online proctoring. You receive a pass/fail score report immediately on completion.

Pre-Licensing Education: None Required

New Mexico is one of a minority of states that requires no pre-licensing education for resident Life & Health applicants. You may register and sit for the exam directly. Because there is no mandatory course, the entire burden of preparation falls on self-study, which is exactly why a structured prep course and a question bank such as this one are so valuable. The exam is comprehensive, and the state-law portion rewards candidates who study New Mexico-specific rules (OSI structure, the guaranty association, replacement, and CE) rather than relying on general national knowledge.

Basic Qualifications

Re-Examination Policy

New Mexico limits retakes by exam type within a rolling 12-month window:

Warning: Failing the same exam four times triggers the six-month wait. Each attempt requires a new exam fee, so the cheapest strategy is to over-prepare and pass on the first sitting.

Fingerprinting and Background Check

First-time resident candidates must submit electronic fingerprints so the OSI can run a state and FBI criminal-history check. Fingerprinting is scheduled through the OSI-approved vendor and should be completed before or alongside the online license application. If you previously submitted fingerprints for another active New Mexico insurance license and have maintained that license without lapse, you generally do not repeat the process.

License Application Process

1. Prepare - self-study the national curriculum plus this New Mexico guide; take practice exams to confirm you score comfortably above 70%.
2. Schedule with PSI - register at psiexams.com or call (855) 560-3714; internet scheduling is available 24/7; choose a test center or remote proctored slot.
3. Take the exam - arrive 30 minutes early with a valid, non-expired government photo ID; pass with 70%+; print or save the score report.
4. Fingerprint (first-time resident applicants) - complete the criminal-history check.
5. Apply - submit the resident producer application through NIPR (National Insurance Producer Registry), pay the $30 license fee, and await OSI approval, typically within about 10 business days.

Approximate Cost

License Maintenance & Continuing Education (Preview)

After licensure, New Mexico producers complete 24 hours of continuing education (CE) every two years, including 3 hours of ethics, and at least 3 of the 24 hours must be earned in a live/classroom format (an in-person class or a live, interactive webinar). Licenses renew on the last day of your birth month, biennially. CE carryover is not permitted, and the same course may not be repeated for credit within 36 months. Late CE carries a $50 penalty. Chapter 1 covers CE in full detail.

Product-Specific Training

Veteran exemption: Producers licensed 25 years or more without a lapse greater than 90 days are exempt from the general CE requirement. Non-residents who satisfy CE in their good-standing home state are also generally exempt.

What This Guide Covers

This guide concentrates on New Mexico state-specific material because that is the portion you cannot pick up from a generic national course:

• Chapter 1 - OSI structure, producer licensing, fingerprinting, CE, and discipline
• Chapter 2 - New Mexico life insurance provisions, annuities, and replacement rules
• Chapter 3 - New Mexico health, disability, LTC, Medicare Supplement, and beWellnm
• Chapter 4 - Unfair trade practices, producer conduct, and the Life & Health Guaranty Association

national Life & Health exam preparationFree exam prep with practice questions & AI tutor

Key New Mexico Facts to Memorize

• Passing score: 70% on every line
• Pre-license education: not required
• Vendor: PSI Services LLC
• Combined exam: 150 questions / 150 minutes
• Retakes: 4 per 12 months, then a 6-month wait
• CE: 24 hours / 2 years (21 general + 3 ethics; 3 must be live/classroom)
• Renewal: last day of birth month, biennially
• Regulator: Office of Superintendent of Insurance (OSI), an independent agency

Good luck on your exam!