Book updated May 2024. In New Mexico, any one engaged in construction-related contracting must be licensed as defined in the Construction Industries Licensing Act. Contracting without a license is against the law. Licensing exams are administered through the Construction Industries Division of the Regulation and Licensing Department. For building contractor, one must either pass the Business and Law exam or take an "approved" Business and Law Course. The exam covers: Licensing Requirements Estimating and Bidding Business Organization and Financial Management Tax Laws Labor Laws Project Management and Lien Law Contracts Risk Management Environmental and Safety The exam covers a wide range of fundamental topics but this study notes will focus on topics related to accounting, finance, purchasing, cost control, human resources and the rules/regulations related to the building and construction profession. There is no way you can pass the exam without having solid real world experience. Our notes give you knowledge, principles and concepts. To master the topics, you must be "in the field" - you need to go through the real world plans, the various contract documents and the various administrative paperworks all by yourself. And you need to know how the experts get things done. To succeed in the exam, you also need to read as many reference books as possible. There is no single book that can cover everything!