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Real Estate Math Quiz Verified and 100% Correct Q & A, Complete Document for Exam
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Real Estate Math Quiz Verified and 100% Correct Q & A, Complete Document for Exam
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Real Estate Math QuizCircle the letter of the Answer that corresponds to the displayed Question.
1. To convert square footage to acreage
A. $40,% = $40,000
B. I / R x V
C. Step one: Reproduction Cost / Economic Life X Effective Age = Total Depreciation / (means divided
by) Step two: Reproduction cost - Total Depreciation (and step 1) + Land value = Depreciated Value of
the Property
D. Divide the number of square feet by 43, 560
2. If you are given the dimension only (300x200) the first number is considered to be
A. Step one: Reproduction Cost / Economic Life X Effective Age = Total Depreciation / (means divided
by) Step two: Reproduction cost - Total Depreciation (and step 1) + Land value = Depreciated Value of
the Property
B. 400x400 = 160,000 square feet 160,000 sq ft / 43, 560 = 3.6731 Acres
C. Front footage
D. $90,000 X 4%= $36,000
3. Discount points
A. One point is calculated as 1% of the loan
B. $600,000 X 6% = $36,000 $36, = $12,000
C. $90,000 X 4%= $36,000
D. V / R x M
4. Income Capitalization Approach
A. $720,000 / $60,000 = 12 Value/ Annual Rental Income = Multiplier (V / R =M)
B. $3.00 per thousand Due 90 days from the date of the instrument (buyer)
C. 1. Loan amount x Annual interest rate = Annual interest / by 12= monthly interest amount 2.Deduct
Monthly interest from total monthly payment amount 3. Principal balance of loan - principal portion of
payment = New loan balance
D. I / R x V
5. GA Residential Mortgage tax
A. $720,000 / $60,000 = 12 Value/ Annual Rental Income = Multiplier (V / R =M)
B. $10.00 Any loan subject to GA Residential Mortgage Act (buyer)
C. V / R x M
D. $3.00 per thousand Due 90 days from the date of the instrument (buyer)
6. Loan amount $90,000 annual interest rate of 7%. If the lender charges 4 discount points
what is the cost to the buyer?
A. $90,000 X 4%= $36,000
B. 400x400 = 160,000 square feet 160,000 sq ft / 43, 560 = 3.6731 Acres
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