Real Estate Math Practice Test Questions And Answers

20 Questions | Total Attempts: 4485

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Real Estate Math Practice Test Questions And Answers - Quiz

Do you know about real estate math calculations? To test your knowledge and understanding, you can take this amazing real estate math practice test. Although the calculations of real estate require a lot of formulas and calculations, it is easier if one has practiced it enough. Here, we have got a few questions for you to practice your real estate math skills. Go for it, and get a perfect score. All the best! You can share the quiz with others related to the real estate field.


Questions and Answers
  • 1. 
    A broker shares the commission that is earned on the sale of real estate with a salesperson in a 3 to 2 ratio, respectively. If the salesperson sells a property for $148,000 on which the office commissions are 5% of the sale price, then how much more would the broker earn than the salesperson?
    • A. 

      $1,576

    • B. 

      $1,480

    • C. 

      $1,960

    • D. 

      $7,400

  • 2. 
    If a property is assessed at $5,200 and the tax rate is 84 mills, the monthly tax is:
    • A. 

      $364.40

    • B. 

      $436.80

    • C. 

      $36.40

    • D. 

      $43.80

  • 3. 
    The calendar year's taxes on a home is $2,640. If the owner sells the home on August 15th of the same year, what would be the seller's proportionate share of the unpaid tax at settlement?
    • A. 

      $650

    • B. 

      $1,650

    • C. 

      $187

    • D. 

      $1,870

  • 4. 
    The owners of a shopping mall charge satellite store owners an annual rent of $25 per square foot of storage area in addition to 5 and 1/2 % of the gross business sales in excess of $135,000. If the dimensions of the store are 41' x 86' and the owner sells $414,000 worth of sporting goods during the year, what is the annual rent. 
    • A. 

      $15,345

    • B. 

      $88,150

    • C. 

      $103,495

    • D. 

      $124,305

  • 5. 
    If Bob received $3,150 as his 25% of the total commission on the sale of a $90,000 property, then what is the rate of the total commission?
    • A. 

      6%

    • B. 

      7%

    • C. 

      14%

    • D. 

      15%

  • 6. 
    If a farmer's field is one-quarter of a mile by one-half of a mile, how many acres does it contain?
    • A. 

      80

    • B. 

      100

    • C. 

      120

    • D. 

      160

  • 7. 
    Sally Thomas rents the first three of her five rental units at $775 per unit per month and the remaining units at $935 per unit per week. If the total property expenses are $3,240 per quarter, what is the net annual income?
    • A. 

      $12,960

    • B. 

      $80,640

    • C. 

      $112,180

    • D. 

      $125,140

  • 8. 
    Lynn Applegate buys a property for $120,000. Three years later, she sells the property for $145,000 and pays a broker's commission of 7% of the selling price. What is her rate of profit?
    • A. 

      12.375%

    • B. 

      11.5%

    • C. 

      13.75%

    • D. 

      15%

  • 9. 
    A $100,000 mortgage with a monthly payment of $950 toward the payment of principal and interest has an eight and one-half percent annual interest rate. How much of the first month's payment is applied toward the principal? 
    • A. 

      $8.50

    • B. 

      $241.67

    • C. 

      $267.41

    • D. 

      708.33

  • 10. 
    What is the value of a building that has a monthly net income of $825 and is earning the owner a 14% annual rate of return?
    • A. 

      $58,928

    • B. 

      $70,174

    • C. 

      $90,514

    • D. 

      $106,932

  • 11. 
    If a seller needs to receive $141,000 after paying a real estate commission of 6%, at what price must the property sell?
    • A. 

      $149,460

    • B. 

      $150,000

    • C. 

      $153,000

    • D. 

      $156,540

  • 12. 
    A sub-divider needs to earn $1,470,000 from the sale of the usable lots in a subdivision to make the desired profit. The subdivision contains a total of 48 acres. Twelve and one-half percent of the subdivision land is to be used for roads. If each lot measures one acre, then what does the other subdivider need to charge per usable lot to make his desired profit. 
    • A. 

      $30,625

    • B. 

      $35,000

    • C. 

      $42,000

    • D. 

      $48,625

  • 13. 
    If the first month's interest payment on a loan is $217 and the annual rate of interest is ten and one-half percent, then what is the amount of the loan? 
    • A. 

      $22,400

    • B. 

      $24,200

    • C. 

      $28,400

    • D. 

      $24,800

  • 14. 
    A property is appraised at the request of a lender in order to provide a mortgage. The property value is determined to be $192,000. The lender provides a mortgage in the amount of $149,760. What is the loan-to-value ratio? 
    • A. 

      78%

    • B. 

      86%

    • C. 

      88%

    • D. 

      128%

  • 15. 
    What is the second month's interest on a $50,000 amortized loan with a 10% annual rate of interest and a level monthly loan payment of $439? 
    • A. 

      $22.33

    • B. 

      $416.48

    • C. 

      $416.67

    • D. 

      $5,000

  • 16. 
    The county-appraised market value of a property is $204,000. The county rate of assessment is 5%. The tax rate is thirty-four and one-quarter mills for the county institution tax and twenty-nine and one-half mills for the borough tax. What is the total annual tax on the property? 
    • A. 

      $10,200

    • B. 

      $625.50

    • C. 

      $650.25

    • D. 

      $13,005

  • 17. 
    The sale of a home for $165,000 represents a 12% decline in price from the original listing price. If the listing agreement stipulated a 6% commission on the listing broker's sale price, what would the listing broker have earned if the home had sold for the original listing price? 
    • A. 

      $9,900

    • B. 

      $10,284

    • C. 

      $11,088

    • D. 

      $11,250

  • 18. 
    A closing cost of two and one half discount points involved in the purchase of a $184,000 property on which there is a mortgage with a 75% loan to value ratio would equal which of the following amounts:
    • A. 

      $3,450

    • B. 

      $3,540

    • C. 

      $4,600

    • D. 

      $138,000

  • 19. 
    A client tells that they are willing to pay a 5% commission as long as they net $250,000 on the sale of their home. To comply with their request what would be the minimum listing price?
    • A. 

      $259,000

    • B. 

       $260,100

    • C. 

      $263,158

    • D. 

      $262,500

  • 20. 
    Sales agent has a 60/40 split with the broker. He just sold a home for $220,000 which paid a 3% commission. How much money did the sales agent make?
    • A. 

      $3,960

    • B. 

      $3,300

    • C. 

      $6,600

    • D. 

      $2,640