Exam (elaborations)
Exam- Colorado Real Estate Math 100% Solved
- Course
- Institution
Exam- Colorado Real Estate Math 100% Solved
[Show more]
Seller
Follow
Content preview
Exam- Colorado Real Estate Math 100% SolvedA real estate agent is paid $200.00 a month salary and a 2 ½ % commission on everything sold
over $150,000 in one year. If the agent makes $22,000 one year. How much did the agent sell?
784000
634000
934000
880000 Correct Answer-934000
$200 X 12 = $2,400 (total salary); $22,000 - $2,400 = $19,600 (total commission sales) / .025
(commission rate) = $784,000 (sales above $150,000 that earned the $19,600 commission) +
$150,000 = $934,000 (Total Sales)
A $75,000 loan requires a $1,875 discount to be paid by seller and a $375 discount to be paid
by the buyer. This is how many total discount points?
2
2.5
, Exam- Colorado Real Estate Math 100% Solved
3
3.5 Correct Answer-3
$1875 + $375 = $2,250. I / V = R. $2,250 / $75,000 = .03
An investor earned $27,500 on a $375,000 investment. What is the rate of return?
0.115
0.073
0.136
0.094 Correct Answer-0.073
$27,500 / $375,000 = 7.3%
If the scale drawing for a lot is 3 inches by 4 inches and the actual lot is 90 feet x 120 feet, how
many feet would be represented by 5 1/4 inches?
210.00 feet
, Exam- Colorado Real Estate Math 100% Solved
157.50 feet
127.50 feet
180.00 feet Correct Answer-157.50 feet
90' / 3" or 120' / 4" = 30 ' per inch; 30' per inch X 5.25" = 157.5'
As a property manager, you have an agreement that your fee will be 8% on the first $150,000
gross rent, 5% on the next $100,000, and 2.5% on everything over the $250,000. If last year's
gross rent was $417,500 what was the management fee?
4187.5
9187.5
21187.5
16187.5 Correct Answer-21187.5
First calculate the commission earned on the first tier - ($150,000 X .08 = $12,000 commission)
then calculate the commission on the second tier - ($100,000 X .05 = $5,000) then calculate
the amount of the remaining gross rent over $250,000 - ($417,500 - ($150,000 + $100,000) =
, Exam- Colorado Real Estate Math 100% Solved
$167,500) then calculate the commission on the remaining amount ($167,500 X .025 =
$4,187.50). Add the commissions together $12,000 + $5,000 + $4,187.50 = $21,187.50 total
management fee
A loan company will provide a loan to Bill and Hillary for 75% of the appraised value of their
home. The interest rate is 10.5%. The first monthly interest payment is $820. The bank
requires 4 discount points (hint: a discount point is 1% of the loan amount) to obtain this
interest rate. How much will the discount points cost?
2840
3749
5575
9714 Correct Answer-3749
$820 x 12 = $9,840 annual interest paid. $9,840 / .105 (annual interest converted to a decimal)
= $93,714.28 Total Loan Amount. $93,714 x .04 (A discount point is 1% of the loan amount -
you have 4 of them) = $3.749.57 in Discount Points
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KarmaScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73314 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now