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Real Estate Math Test Verified and 100% Correct Q & A, Complete Document for Exam
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Real Estate Math Test Verified and 100% Correct Q & A, Complete Document for Exam
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Real Estate Math TestEnter the letter for the matching Answer
1. To calculate a A. Step one: Reproduction Cost / Economic Life X
sales Effective Age = Total Depreciation / (means divided by)
commission: Step two: Reproduction cost - Total Depreciation (and
step 1) + Land value = Depreciated Value of the
2. If the value of a
Property
property is
$720,000 and the B. $600,000 X 6% = $36,000 $36, = $12,000
annual rental
income is C. $720,000 / $60,000 = 12 Value/ Annual Rental
$60,000, how Income = Multiplier (V / R =M)
much is the gross
income multiplier? D. 400x400 = 160,000 square feet 160,000 sq ft / 43,
560 = 3.6731 Acres
3. $80,000 loan for
30years, interest E. $10.00 Any loan subject to GA Residential Mortgage
rate of 8%. Act (buyer)
Monthly principal
and interest F. $40,% = $40,000
payments of
$587.01. What is G. V / R x M
the principal
balance after the H. $100,000 X 5%= $5,000 $100,000 X 6%= $6,000
first payment $135,300 X 7%= $9,471 $5,000+$6000+$9471=
$20,471
4. A parcel of land is
7.5 acres. How I. Multiply the number of acres by 43, 560
many square feet
are in the parcel? J. Multiply the length of one side by the length of the
other side
5. Gross Rent
Multiplier K. Divide the number of square feet by 43, 560
Approach
L. 43, 560 X 7.5 = 326, 700 sq. ft.
6. A parcel of land
measures M. Step 1: $300, X 4= $60,000 Step 2:
400x400 (sq.) $300,000 - $60,000 +$40,000 = $280,000
how many acres
are contained in N. $90,000 X 4%= $36,000
this parcel?
O. Selling price= Sellers net + Closing cost divided by /
7. Cost Depreciation 100% - Commission rate
Approach
8. Seller Aaron P. $80,000 X .08=$6,400 /12 = $533.33 - 587.01=
wants to Net $ $54.03 $80,000-53.68 = $79, 946. 32 ( Balance after 1st
259,000, agrees payment)
to commissions
Q. $375,000 X 7.5% =$28,125
as follows: 5% -
first $100,000 6% R. X the total sales commission by the appropriate
- next $100,000 percentage that either the broker or sales associate is
7% - anything entitled to receive.
over $200,000 If
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