18 Questions

Questions and Answers

- 1.
- A.
$3,450

- B.
$3,540

- C.
$4,600

- D.
$138,000

- 2.
- A.
$1,576

- B.
$1,480

- C.
$1,960

- D.
$7,400

- 3.
- A.
$364.40

- B.
$436.80

- C.
$36.40

- D.
$43.80

- 4.
- A.
$650

- B.
$1,650

- C.
$187

- D.
$1,870

- 5.
- A.
$15,345

- B.
$88,150

- C.
$103,495

- D.
$124,305

- 6.
- A.
6%

- B.
7%

- C.
14%

- D.
15%

- 7.
- A.
80

- B.
100

- C.
120

- D.
160

- 8.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

- 9.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%

- 10.
- A.
$149,460

- B.
$150,000

- C.
$153,000

- D.
$156,540

- 11.
- A.
$8.50

- B.
$241.67

- C.
$267.41

- D.
708.33

- 12.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

- 13.
- A.
$30,625

- B.
$35,000

- C.
$42,000

- D.
$48,625

- 14.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

- 15.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%

- 16.What is the second months 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

- 17.
- A.
$10,200

- B.
$625.50

- C.
$650.25

- D.
$13,005

- 18.
- A.
$9,900

- B.
$10,284

- C.
$11,088

- D.
$11,250