National Real Estate Exam Questions: Math Latest Version Already Passed

National Real Estate Exam Questions: Math Latest Version Already Passed Jon sells a property for $800,000 and earns a 3% commission. Jon obtained the sales for this transaction based on a co-brokerage agreement referral for a 50/50 split. Jon works under a managing broker who is owed 40%. How much did Jon's managing broker earn from this transaction? A. $7,200 B. $12,000 C. $24,000 D. $4,800 $4,800 $800,000 x 3% or 0.03 = $24,000 $24,000 / 2 = $12,00 (50/50 split) $12,000 x 40% or 0.4 = $4,800 Parcel of land sold for $69,500. It was purchased 4 years Ago for $42,000. What was the appreciation of this investment? (to the nearest tenth percent) A. 34.3% B. 39.6% C. 60.4% D. 65.5% 39.6% $69,500 - $42,000 = $27,500 $27,500 / $69,000 = 39.6% A buyer wants to purchase a home for $160,000 with a 15% down payment. The lender charges 2 points. How much money does the buyer need up front to make the purchase? $26,720 $160,000 x 15% = $24,000 down payment $160,000 - $24,000 = $136,000 loan $136,000 x 2 points (2%) = $2,720 $24,000 + $2,720 = $26,720 A city has determined that next fiscal year they will need to raise $1,240,000 in real estate tax revenue. The assessed value of all real estate