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

$450,000 × 0.06 = $27,000 total commission.

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

$350,000 × 0.06 = $21,000 total commission; split equally = $10,500 each.

Question 3

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

Accepted Answer

30,000 sq ft

Answer

150 × 200 = 30,000 square feet.

Question 4

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

Accepted Answer

10 acres

Answer

660 × 660 = 435,600 sq ft; 435,600 ÷ 43,560 = 10 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

Profit = $60,000; $60,000 ÷ $300,000 = 0.20 = 20%.

CA Real Estate - California Real Estate Exam Practice Test