New Mexico

New Mexico Business Law

In addition to the trade-specific examination you must either pass the Business and Law offered by PSI or take an “approved” Business and Law Course. Please see the list of schools that offer an approved course, at the PSI website. You must pass the Business and Law examination and the Trade examination within 1 year. Scores are void after 1 year. This exam is 50 questions, open-book with a 2-hour time limit. Individuals must score 75% to pass. Exam Subject areas: Business Management Licensing Estimating and Bidding Contract Management Project Management Risk Management Safety Labor Laws Lien Laws Tax Laws Financial Management This exam is required for most classifications of Contractor license in New Mexico.