BC Real Estate Trading Services Course Real Estate Math & Calculations

Question 1

A BC property sells for $850,000. The listing commission is 3.255% on the first $100,000 and 1.1775% on the balance. What is the total commission (before GST)?

Accepted Answer

$11,004.75

Answer

$11,754.75

Answer

$10,050.00

Answer

$13,497.25

Question 2

A BC property is assessed at $720,000 and the municipal tax rate is 4.5 mills. What is the annual property tax?

Accepted Answer

$3,240

Answer

$32,400

Answer

$324

Answer

$4,500

Question 3

A BC buyer purchases a home for $650,000. They put 10% down. What is the CMHC mortgage insurance premium?

Accepted Answer

$14,625

Answer

$16,380

Answer

$11,700

Answer

$19,500

Question 4

A BC investment property generates $3,600 per month in gross rent and sells for $648,000. What is the Gross Rent Multiplier (GRM)?

Accepted Answer

180

Answer

15

Answer

0.0056

Answer

21.6

Question 5

A BC commercial property has a Net Operating Income (NOI) of $75,000 and a capitalization rate of 5%. What is the estimated value?

Accepted Answer

$1,500,000

Answer

$375,000

Answer

$750,000

Answer

$3,750

Question 6

A BC buyer's offer of $780,000 is 4% below the listed price. What was the original list price?

Accepted Answer

$812,500

Answer

$811,200

Answer

$748,800

Answer

$795,000