Real Estate Math Questions Exam Questions and Answers (Solved Papers) Types of Questions - Correct Answers ✅(1) Percentage questions include commission, net listing, profit or loss, principal and interest, or interest only computations.(2) Square footage questions include how many lots or what size lot can be developed, and replacement costs.(3) Formula questions include memorizing formulas. They can be comparable sales appraisal questions or specific formulas for IRV, or taxable values.
Real Estate Commission:
A real estate sales associate's agreement with their broker gives the sales associate 60% of all commissions earned by the firm. If a property sells for $145,000 and the firm earns a 6% commission, what would be the sales associate's share?
A. $3,480
B. $5,220
C. $8,700
- $9,870 - Correct Answers ✅B.
$145,000 x 0.6 commission = $8,700. 1 / 3
Real Estate Math Questions Exam Questions and Answers (Solved Papers) 60% of $8,700 = $5,220.
Net listing:
A seller wants to net $50,000 after paying off a loan of $65,000 and a real estate commission of 5%. Which list price would give the seller his or her net?
A. $106,500
B. $120,750
C. $120, 950
- $121, 053 - Correct Answers ✅D.
$50,000 (seller's net) + $65,000 (loan payoff amount) = $115,000 (total) 100% - 5% (commission rate) = 95% (or .95) $115,000 (total) ÷ .95 = $121,052.63 (listing price)
Profit or Loss:
A property was purchased for $140,000 and later sold for $156,500. Which represents the profit percentage earned in this transaction? 2 / 3
Real Estate Math Questions Exam Questions and Answers (Solved Papers)
- 5%
- 8%
C. 10%
- 12% - Correct Answers ✅D.
Divide what is made by what is paid.$156,500 (purchase price) - $140,000 (sales price) = $16,500 (amount made).$16,500 (amount made) ÷ $140,000 (amount paid) = .117857 or 12%
Principal & interest with amortized or level payment loan:
How much of the second loan payment would apply to principal if the loan was originally $175,000 at 6% over 30 years with a monthly payment of $1,049.21?
A. $174.21
B. $175.08
C. $874.13
- $875 - Correct Answers ✅B.
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