Real Estate Math – Free Practice Exam

Real Estate Math Practice Exam

Take our free real estate math practice exam to help pinpoint the topics you need more practice.  Take the exam as many times as you like to see how much you have improved!

Question #1: Sally buys a $375,000 house in Ludoun County. The state recordation tax is $0.25 per $100. The county tax is 1/3 of the state tax. How much recordation tax will Sally pay?

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Question #2: An agent sells a property for $650,000 and makes a commission of 6%, which is split 70/30 with his broker. How much does the agent receive?

Question #3: Marsha buys a property and closes on August 1. The seller pre-paid the annual real estate taxes of $5000 in advance. How much will Marsha owe the seller in real estate taxes at closing?

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Question #4: A 5-year old 2,100 sf house that has a replacement cost of $65/sf. The land is valued at $125,000 and the depreciation rate is 2% per year. What is the value of the property using the cost approach?

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Question #5: Gina wants to replace the carpet in her bedroom. The size of her bedroom is 12 foot by 10 foot and the cost to replace carpet is $3.00 / sf. How much will it cost Gina to replace the carpet?

Question #6: How much total interest is paid on a $150,000 loan amortized over 15 years at 8% interest, using a factor of 9.56?

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Question #7: Dan bought his home 10 years ago for $175,000. He sold his home last month for $275,00. What is the annual rate of appreciation?

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Question #8: An agent seller a property for $415,000 and receives a commission of $22,825. What was her commission rate?

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Question #9: Ben sold his townhome on March 12. The property is subject to an HOA fee of $355 per month, which Ben prepaid for the month of March. How much does the buyer owe Ben in HOA fees? (Assume a 30-day month)

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Question #10: Karen is considering buying a 8-unit apartment building. The NOI is $85000. If she wants a 15% return on her investment, what is the maximum price she should offer?

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