CA Real Estate Real Estate Mathematics

Question 1

A property sells for $450,000 and the commission rate is 6%. How much commission is earned?

Accepted Answer

$27,000

Answer

$22,500

Answer

$30,000

Answer

$18,000

Question 2

If a listing broker and selling broker split the 6% commission equally, how much does each receive on a $350,000 sale?

Accepted Answer

$10,500

Answer

$21,000

Answer

$12,500

Answer

$7,000

Question 3

A lot measures 150 feet by 200 feet. How many square feet does it contain?

Accepted Answer

30,000 sq ft

Answer

35,000 sq ft

Answer

25,000 sq ft

Answer

40,000 sq ft

Question 4

How many acres are in a parcel that measures 660 feet by 660 feet?

Accepted Answer

10 acres

Answer

5 acres

Answer

1 acre

Answer

2 acres

Question 5

A property was purchased for $300,000 and sold for $360,000. What is the percentage of profit?

Accepted Answer

20%

Answer

15%

Answer

16.67%

Answer

25%

Question 6

A seller nets $280,000 after paying a 5% commission. What was the sale price?

Accepted Answer

$294,737

Answer

$294,000

Answer

$280,000

Answer

$296,000

A property sells for $450,000 and the commission rate is 6%.How much commission is earned?