Free Practice Exam
Real Estate Math Practice Exam
This exam contains 15 questions that cover 7 major topic areas:
 Appraisal
 Appreciation
 Commission
 Geometry
 Mortgages
 Proration
 Taxes
Start
Congratulations  you have completed the Real Estate Math Practice Exam.
You scored %%SCORE%% out of %%TOTAL%%.
Get access to over 100 Real Estate Math Questions organized by category!
Your answers are highlighted below.
Question 1
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 30day month)$11.33Hint: Almost. This is the daily rate. $203.94 $177.50 $355
Question 1 Explanation:Calculate daily rate = $355 / 30 = $11.33 / day
The buyer owes (3012 = 18 days) = $11.33 x 18 = $203.94
This is a Proration question.Question 2
A 5year 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?$136,500Hint: This is only the replacement cost. $2,740 $13,650Hint: Close, but not quite. $247,850
Question 2 Explanation:Replacement cost = 65 x 2100 = $136,500.
Annual Depreciation = $136,500 x .02 = $2730
Depreciation over 5 years = $13,650
Value = Replacement Cost + Land Value = Depreciation = $247,850
This is an Appraisal question.Question 3
How much is the PI payment on a 7.25%, $200,000 mortgage, amortized over 30 years using the amortization factor of 6.82?$200 $1,324 $1,234 $662
Question 3 Explanation:Calculate payment = Mortgage Factor x Loan Amount in Thousands = 6.62 x 200 = $1,324
This is a Mortgage question.Question 4
A broker receives a commission check for $9000. If her commission rate is 6%, what was the sales price of the home?$540Hint: The sales prices is greater than the commission. $150,000 $540,000 $200,000
Question 4 Explanation:Sales price = Commission Received / Commission Rate = $150,000
This is a Commission question.Question 5
Marsha buys a property and closes on August 1. The seller prepaid the annual real estate taxes of $5000 in advance. How much will Marsha owe the seller in real estate taxes at closing?$2916.69Hint: Not quite. How many months is Martha responsible for? $945.20 $2083.33 $416.67Hint: You're on the right track, but this isn't the answer.
Question 5 Explanation:Calculate monthly tax = $5000 / 12 = $416.67
Marsha is responsible for 5 months, so she owes the seller = $416.67 x 5 = $2083.33
This is a Proration question.Question 6
How many 5,000sf lots can a developer create from a 10acre piece of land?435,600 lots 43,560 lots 87 lots 187 lots
Question 6 Explanation:Covert acres to sf = 10 acres x 43560 sf / acre = 435,600 sf.
Divide by 5,000 sf to find number of lots = 87 lots
This is a Geometry question.Question 7
Tom sells his house for $475,000 in Loudoun County. The grantor tax is $0.50 per $500. What is the grantor tax?$2,375 $475 $4,750 $500
Question 7 Explanation:Calculate Grantor Tax = $475,000 x .5 /500 = $475
This is a Taxes question.Question 8
How much total interest is paid on a $150,000 loan amortized over 15 years at 8% interest, using a factor of 9.56?$1434Hint: Getting close. This is only the monthly mortgage payment $258,120Hint: Almost. This is the total amount of the loan. We're only looking for the interest. $150,000 $108,120
Question 8 Explanation:Calculate Mortgage Payment = 150 x 9.56 = $1434
Calculate total cost of loan = $1434 x 15 years x 12 months/year = $258,120
Subtract principal amount = $258,120  $150,000 = $108,120
This is a Mortgage question.Question 9
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?$1000 $1250 $937.50Hint: This is only part of the answer $312.50Hint: This is only part of the answer
Question 9 Explanation:Calculate state recordation tax =
$375,000 x .25 / 100 = $937.50
State tax = 1/3 * $937.50 = $312.50
Total Tax = $1250
This is a Taxes question.Question 10
An agent seller a property for $415,000 and receives a commission of $22,825. What was her commission rate?5.5% 18% 55% 180%
Question 10 Explanation:Commission rate = Commission Received / Sales Price = 0.055 = 5.5%
This is a Commission question.Question 11
Ken bought a condo 3 years ago for $250,000. If the area depreciated at 5% per year, what is the value of his house today?$12,500Hint: Not quite. This is the annual depreciation. $37,500Hint: Not quite. This is the total depreciation. $212,500 $237,500
Question 11 Explanation:Calculate annual depreciation = $250,000 x .05 = $12,500.
Calculate total depreciation = $12,500 x 3 years = $37,500.
Calculate value = $250,000  $37,500 = $212,500.
This is an Appreciation question.Question 12
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?100% 57%Hint: This is the total appreciation. We're looking for the annual appreciation. 5.7% 157%
Question 12 Explanation:Total Appreciation = $275,000  $175,000 = $100,000
Total % Appreciation = Total Appreciation / Original Amount = $100,000 / $175,000 = .57
Annual appreciation = .57 / 10 years = .057 = 5.7%
This is an Appreciation question.Question 13
Karen is considering buying a 8unit apartment building. The NOI is $85000. If she wants a 15% return on her investment, what is the maximum price she should offer?$56,667 $1,275 $127,500 $566,667
Question 13 Explanation:Value = NOI / Cap rate = $8,500 / .15 = $56,667
This is an Appraisal question.Question 14
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?$120Hint: This is the area, but we need the cost. $360 $500 $40
Question 14 Explanation:Calculate total sf = Area = Length x Width = 10 feet x 12 feet = 120 sf
Calculate Cost = 120 sf x $3/sf = $360
This is a Geometry question.Question 15
An agent seller 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?$27,300 $39,000Hint: Not quite. What about the split? $65,000 $11,700Hint: Not quite. The agent gets 70% and the broker gets 30%.
Question 15 Explanation:Calculate total commission = $650,000 x .06 = $39,000
Calculate agent percentage = $39,000 x .7 = $27,300
This is a Commission question.
Once you are finished, click the button below. Any items you have not completed will be marked incorrect.
Get Results
There are 15 questions to complete.
List
Return
Shaded items are complete.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 End
Return
You have completed
questions
question
Your score is
Correct
Wrong
PartialCredit
You have not finished your quiz. If you leave this page, your progress will be lost.
Correct Answer
You Selected
Not Attempted
Final Score on Quiz
Attempted Questions Correct
Attempted Questions Wrong
Questions Not Attempted
Total Questions on Quiz
Question Details
Results
Date
Score
Time allowed
minutes
seconds
Time used
Answer Choice(s) Selected
Question Text
All doneNeed more practice!Keep trying!Not bad!Good work!Perfect!
Real Estate Math Practice Exam
This exam contains 15 questions that cover 7 major topic areas: Appraisal
 Appreciation
 Commission
 Geometry
 Mortgages
 Proration
 Taxes
You scored %%SCORE%% out of %%TOTAL%%.
Get access to over 100 Real Estate Math Questions organized by category!
Your answers are highlighted below.
Question 1 
$11.33 Hint: Almost. This is the daily rate.  
$203.94  
$177.50  
$355 
The buyer owes (3012 = 18 days) = $11.33 x 18 = $203.94
This is a Proration question.
Question 2 
$136,500 Hint: This is only the replacement cost.  
$2,740  
$13,650 Hint: Close, but not quite.  
$247,850 
Annual Depreciation = $136,500 x .02 = $2730
Depreciation over 5 years = $13,650
Value = Replacement Cost + Land Value = Depreciation = $247,850
This is an Appraisal question.
Question 3 
$200  
$1,324  
$1,234  
$662 
This is a Mortgage question.
Question 4 
$540 Hint: The sales prices is greater than the commission.  
$150,000  
$540,000  
$200,000 
This is a Commission question.
Question 5 
$2916.69 Hint: Not quite. How many months is Martha responsible for?  
$945.20  
$2083.33  
$416.67 Hint: You're on the right track, but this isn't the answer. 
Marsha is responsible for 5 months, so she owes the seller = $416.67 x 5 = $2083.33
This is a Proration question.
Question 6 
435,600 lots  
43,560 lots  
87 lots  
187 lots 
Divide by 5,000 sf to find number of lots = 87 lots
This is a Geometry question.
Question 7 
$2,375  
$475  
$4,750  
$500 
This is a Taxes question.
Question 8 
$1434 Hint: Getting close. This is only the monthly mortgage payment  
$258,120 Hint: Almost. This is the total amount of the loan. We're only looking for the interest.  
$150,000  
$108,120 
Calculate total cost of loan = $1434 x 15 years x 12 months/year = $258,120
Subtract principal amount = $258,120  $150,000 = $108,120
This is a Mortgage question.
Question 9 
$1000  
$1250  
$937.50 Hint: This is only part of the answer  
$312.50 Hint: This is only part of the answer 
State tax = 1/3 * $937.50 = $312.50
Total Tax = $1250
This is a Taxes question.
Question 10 
5.5%  
18%  
55%  
180% 
This is a Commission question.
Question 11 
$12,500 Hint: Not quite. This is the annual depreciation.  
$37,500 Hint: Not quite. This is the total depreciation.  
$212,500  
$237,500 
Calculate total depreciation = $12,500 x 3 years = $37,500.
Calculate value = $250,000  $37,500 = $212,500.
This is an Appreciation question.
Question 12 
100%  
57% Hint: This is the total appreciation. We're looking for the annual appreciation.  
5.7%  
157% 
Total % Appreciation = Total Appreciation / Original Amount = $100,000 / $175,000 = .57
Annual appreciation = .57 / 10 years = .057 = 5.7%
This is an Appreciation question.
Question 13 
$56,667  
$1,275  
$127,500  
$566,667 
This is an Appraisal question.
Question 14 
$120 Hint: This is the area, but we need the cost.  
$360  
$500  
$40 
Calculate Cost = 120 sf x $3/sf = $360
This is a Geometry question.
Question 15 
$27,300  
$39,000 Hint: Not quite. What about the split?  
$65,000  
$11,700 Hint: Not quite. The agent gets 70% and the broker gets 30%. 
Calculate agent percentage = $39,000 x .7 = $27,300
This is a Commission question.
Once you are finished, click the button below. Any items you have not completed will be marked incorrect.
Get Results
List

Return
Shaded items are complete.
Return
1  2  3  4  5 
6  7  8  9  10 
11  12  13  14  15 
End 
You have completed
questions
question
Your score is
Correct
Wrong
PartialCredit
You have not finished your quiz. If you leave this page, your progress will be lost.
Correct Answer
You Selected
Not Attempted
Final Score on Quiz
Attempted Questions Correct
Attempted Questions Wrong
Questions Not Attempted
Total Questions on Quiz
Question Details
Results
Date
Score
Time allowed
minutes
seconds
Time used
Answer Choice(s) Selected
Question Text
All doneNeed more practice!Keep trying!Not bad!Good work!Perfect!
Want more practice?
Get access to 125 Real Estate Math Problems – Solved!
Fully Solved, StepByStep Solutions
9 Real Estate Math Topic Areas
Immediate Download
www.RealEstateMathProblems.com