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Florida Real Estate Math Equations And Correct Detailed Answers (Verified Answers) Already Graded A+
- To calculate the appropriate selling price so that the seller will receive a certain
- Selling Price = Seller's Net + Closing Costs + Commission %
- Selling Price = (Seller's Net + Closing Costs) ÷ (100% - Commission %)
- Selling Price = (Seller's Net - Closing Costs) ÷ Commission %
- Selling Price = Seller's Net - Closing Costs * Commission %
amount of money after paying closing costs and the sales commission, what formula is used?
Correct Answer: B
- How do you calculate a commission split between a broker and a sales associate?
- Subtract the closing costs from the total sales commission
- Divide the total sales commission by the selling price
- Multiply the total sales commission by the appropriate percentage that either the broker
- Multiply the selling price by the broker's percentage only
or sales associate is entitled to receive
Correct Answer: C
- How do you calculate a sales commission?
- Divide the selling price by the commission rate
- Multiply the selling price by the commission rate
- Multiply the seller's net by the commission rate
- Subtract the commission rate from the selling price
Correct Answer: B
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- A parcel of land is 7.5 acres. How many square feet are in the parcel?
- 43,560 sq. ft.
- 160,000 sq. ft.
- 326,700 sq. ft.
- 8,712 sq. ft.
Correct Answer: C
- A parcel of land measures 400' x 400' (square). How many acres are contained in this
- 2.5000 acres
- 3.6731 acres
- 4.1205 acres
- 7.5000 acres
parcel?
Correct Answer: B
- If you are given the dimensions only (e.g., 300' x 200'), the first number is considered
- Perimeter
- Total
- Depth
- Front
to be the _____ footage.
Correct Answer: D
- How do you convert acreage to square feet?
- Divide the number of acres by 43,560
- Subtract 43,560 from the number of acres
- Multiply the number of acres by 43,560
- Multiply the number of acres by 12
Correct Answer: C
- How do you convert square footage to acreage?
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- Divide the number of square feet by 43,560
- Multiply the number of square feet by 43,560
- Divide the number of square feet by 12
- Multiply the number of square feet by 100
Correct Answer: A
9. To determine a rectangle's square footage, you should:
- Add all four sides together
- Divide the length by the width
- Multiply the length by the width and divide by 2
- Multiply the length of one side by the length of the other side
Correct Answer: D
- There are _____ square feet in an acre.
A) 5,280
B) 10,000
C) 43,560
D) 640
Correct Answer: C
- Broker Gary sold a home for $375,000 with an agreed-upon commission of 7.5% of
the sales price. How much is the sales commission?
A) $2,812.50
B) $25,000
C) $28,125
D) $37,500
Correct Answer: C
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- Broker Bob has agreed to pay Salesperson Rafael two-thirds of all commissions
earned as a result of Rafael's efforts. If Rafael sells a property for $600,000 with an agreed-upon commission of 6%, how much is Bob's share of the commission?
A) $6,000
B) $12,000
C) $24,000
D) $36,000
Correct Answer: B
- Seller Alexa notifies her broker that she wants to net $100,000 from the sale of her
home. The seller's closing costs will be $8,000 and the broker must earn a commission of 10%. How much should the property sell for so that both the seller and broker receive the amount of money they want?
A) $108,000
B) $118,800
C) $120,000
D) $130,000
Correct Answer: C
- A broker lists a property for $259,000 and agrees to accept a 5% commission on the
first $100,000 of the selling price, 6% of the next $100,000, and 7% on the portion over and above $200,000. How much is the broker's total commission on a sales price of
$335,300?
A) $11,000
B) $18,900
C) $20,471
D) $23,471
Correct Answer: C
- When using the Comparable Sales Approach, what does the acronym CBS stand
- Comparable Baseline Sale
for?
