National Math Module ACTUAL EXAM
WITH A STUDY GUIDE | GUARANTEED
PASS | LATEST UPDATE 2025
If the roof a property cost $14,000 and its economic life is 18 years,
what would its value be after four years using a straight-line method
of depreciation?
A: $13,222
B: $9,240
C: $10,889
D: $12,666 - CORRECT ANSWER C: $10,889
A home seller wants to net $15,000. If he has agreed to pay a 5%
commission, the loan payoff is $94,000 and closing costs are $16,000,
what must the minimum listing price be? Round to the nearest $100.
A: $125,000
B: $130,700
C: $136,300
D: $131,600 - CORRECT ANSWER D: $131,600
A buyer secured a $125,000 loan at 4.5% interest rate. To receive a
lower interest rate, the buyer was required to buy down three
discount points. How much were the discount points?
A: $3,550.00
B: $3,750.00
C: $4,250.00
D: $3,892.00 - CORRECT ANSWER B: $3,750.00
If a corporate building has nine office suites that rents for $14,800 per
month each, but suffers from a 14% vacancy rate and annual expenses
, of $21,100, what is the NOI of the building (round to the nearest
$100)?
A: $93,500
B: $1,353,500
C: $133,200
D: $84,600 - CORRECT ANSWER B: $1,353,500
If a house sold for $40,000 and the buyer obtained an FHA-insured
mortgage loan for $38,600, how much money would be paid in
discount points if the lender charged four points?
A: $1,600
B: $1,544
C: $1,500
D: $385 - CORRECT ANSWER B: $1,544
A lender determines that a homebuyer can afford to borrow $220,000
on a mortgage loan. The lender requires an 85% loan-to-value ratio.
How much can the borrower pay for a property and still qualify for
this loan amount (to the nearest $1,000)?
A: $187,000
B: $243,000
C: $254,000
D: $259,000 - CORRECT ANSWER D: $259,000
A property currently valued at $450,000 is expected to appreciate 8%
each year for the next 3 years. What will be its appreciated value at
the end of this period?
A: $524,880
B: $566,870
C: $474,000
D: $558,000 - CORRECT ANSWER B: $566,870
WITH A STUDY GUIDE | GUARANTEED
PASS | LATEST UPDATE 2025
If the roof a property cost $14,000 and its economic life is 18 years,
what would its value be after four years using a straight-line method
of depreciation?
A: $13,222
B: $9,240
C: $10,889
D: $12,666 - CORRECT ANSWER C: $10,889
A home seller wants to net $15,000. If he has agreed to pay a 5%
commission, the loan payoff is $94,000 and closing costs are $16,000,
what must the minimum listing price be? Round to the nearest $100.
A: $125,000
B: $130,700
C: $136,300
D: $131,600 - CORRECT ANSWER D: $131,600
A buyer secured a $125,000 loan at 4.5% interest rate. To receive a
lower interest rate, the buyer was required to buy down three
discount points. How much were the discount points?
A: $3,550.00
B: $3,750.00
C: $4,250.00
D: $3,892.00 - CORRECT ANSWER B: $3,750.00
If a corporate building has nine office suites that rents for $14,800 per
month each, but suffers from a 14% vacancy rate and annual expenses
, of $21,100, what is the NOI of the building (round to the nearest
$100)?
A: $93,500
B: $1,353,500
C: $133,200
D: $84,600 - CORRECT ANSWER B: $1,353,500
If a house sold for $40,000 and the buyer obtained an FHA-insured
mortgage loan for $38,600, how much money would be paid in
discount points if the lender charged four points?
A: $1,600
B: $1,544
C: $1,500
D: $385 - CORRECT ANSWER B: $1,544
A lender determines that a homebuyer can afford to borrow $220,000
on a mortgage loan. The lender requires an 85% loan-to-value ratio.
How much can the borrower pay for a property and still qualify for
this loan amount (to the nearest $1,000)?
A: $187,000
B: $243,000
C: $254,000
D: $259,000 - CORRECT ANSWER D: $259,000
A property currently valued at $450,000 is expected to appreciate 8%
each year for the next 3 years. What will be its appreciated value at
the end of this period?
A: $524,880
B: $566,870
C: $474,000
D: $558,000 - CORRECT ANSWER B: $566,870
