Real Estate Broker Exam — National Portion
Real estate math: practice questions
Our Real Estate Broker (National) bank has 36 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.
Question 1
A seller wants to net $380,000 after a 6% commission and $5,000 in other costs. What must the sale price be (to the nearest dollar)?
- $402,800
- $407,000
- $409,574
- $385,000
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C. $409,574 — (380,000 + 5,000) ÷ 0.94 = 409,574.47.
Question 2
A house sells for $520,000 with a 5% commission. The listing broker gets 50% of the commission and pays the agent 60% of that. The agent earns:
- $26,000
- $13,000
- $7,800
- $15,600
Show the answer
C. $7,800 — Commission 26,000; listing side 13,000; agent 60% = 7,800.
Question 3
A triangular lot has a base of 200 feet and a height of 150 feet. What is its area?
- 15,000 sq ft
- 30,000 sq ft
- 350 sq ft
- 7,500 sq ft
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A. 15,000 sq ft — Triangle area = ½ × base × height = 0.5 × 200 × 150 = 15,000.
Question 4
An apartment building has potential gross income of $200,000, vacancy of 5% and operating expenses of $70,000. What is the NOI?
- $130,000
- $110,000
- $190,000
- $120,000
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D. $120,000 — EGI = 200,000 − 10,000 = 190,000; NOI = 190,000 − 70,000 = 120,000.
Question 5
For federal tax purposes, residential rental buildings are depreciated over:
- 39 years
- 50 years
- 27.5 years
- 15 years
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C. 27.5 years — 26 U.S.C. 168(c): residential rental property 27.5 years; nonresidential real property 39 years. Land is not depreciable.