Quiz
Real Estate Math
Create a free account to finish this quiz
Save your progress and see your final score.
Already have an account? Sign in
Questions in this quiz (15)
1A real estate salesperson brings a buyer to a For-Sale-By-Owner transaction. The home sells for $120,000, and the seller agrees to pay a commission of 3%. The salesperson is on a 65% commission schedule with her broker. How much will the salesperson receive from this transaction?
- A$2,300
- B$2,340
- C$4,680
- D$7,200
2Sales associate Shirley and her broker agree to split commissions on a
60/40 basis, respectively(associate, 60%; broker, 40%). How much
commission will the sales associate earn if she lists and sells (both sides of
the deal) the property for $240,000 and the listing commission was 7%?- A$16,800
- B$1,176
- C$10,800
- D$10,080
3Jerry is a sales agent at Ready Realty and enjoys an 80/20 split with
his broker (Jerry receives 80%). Recently Jerry closed on a $375,000
deal where he only represented the buyer. If the property was listed
at 6%, what was Jerry’s commission?- A$22,500
- B$11,250
- C$9,000
- D$18,000
4A sales associate and a broker and split commission on a 70/30 basis,
respectively. How much commission will the broker receive if his
brokerage represents both sides, the home sells for $230,000 and the
listing commission rate is 7%?- A$4,830
- B$8,760
- C$16,100
- D$12,200
5Lamar sells another broker's $800,000 listing for $785,000 at a commission rate of 6.5%. Lamar has a 40% commission split with his broker. If there is also a 50% brokerage split, what commission will Lamar receive?
- A$51,025
- B$25,512.50
- C$12,756.25
- D$10,205
6The borrower is applying for a home loan of $225,000. If the lender charges an origination fee of 1%,
how much will the origination fee be?- A$2,000
- B$2,500
- C$2,250
- D$2,750
7The principle balance of a loan is $360,000. The monthly principal and interest payment will be $2,160 per month for 30 years. How much interest will be paid over the term of the loan?
- A$777,600
- B$417,600
- C$417,000
- D$317,600
8If a homeowner has a loan for $360,000 at 5% interest, how much does the homeowner pay
in interest each month?- A$1,500
- B$11,500
- C$3,000
- D$18,000
9If a homeowner has a loan for $185,000 at 6.5% interest, how much does the homeowner
pay in interest each month?- A$3,000.06
- B$2,000.08
- C$1,002.08
- D$1,202.06
10Solve for the amount of monthly interest that is owed on an interest-only loan based on the following facts: Loan amount $115,000, annual interest rate of 7%?
- A$8,050
- B$670.83
- C$750.25
- D$4,025
11The lender agreed to a loan based on an 90% LTV. If the contract price was
$187,000, what is the down payment amount?- A$18,700
- B$18,000
- C$16,300
- D$16,800
12The lender agreed to a loan based on an 85% LTV. If the contract price was
$225,000, what is the loan amount?- A$190,320
- B$225,000
- C$191,250
- D$180,250
13The lender agreed to a loan based on an 85% LTV. If the contract price was
$220,000 and the appraised value was $215,000, what is the down payment amount?- A$42,250
- B$22,250
- C$33,000
- D$32,250
14If a buyer agrees to a contract price of $279,000 for a home and the appraised value
is $274,000, what would the loan amount be at 85 LTV%?- A$41,850
- B$237,150
- C$41,100
- D$232,900
15If Jessica purchases a property for $290,000, and borrows $200,000 she is said to have a LTV ratio of….?
- A$68.90
- B68.9%
- C75%
- D$75.00
Information
- Description
- Real Estate Math
- Author
- Randolph G
- Language
- English
- Views
- 130
- Tags
- Rating
- No ratings yet Rate this quiz