National portion

Free Real Estate Math practice questions

10 original questions with full explanations. 7 of the 80 scored national-portion questions (about 9%) come from this area.

This is national-portion content — identical whichever state you're licensing in, and scored separately from your state-law portion.

1. 1

   A home sells for $250,000 with a 6% commission split evenly between the listing and selling brokerages. Each brokerage receives:

   • A. $7,500
   • B. $15,000
   • C. $3,750
   • D. $30,000
   Show answer & explanation

   Answer: A

   $250,000 × 6% = $15,000 total; split evenly, each brokerage gets $7,500.

2. 2

   A property valued at $180,000 is assessed at 25% of value. The tax rate is $2.50 per $100 of assessed value. The annual tax is:

   • A. $1,125
   • B. $4,500
   • C. $2,812.50
   • D. $562.50
   Show answer & explanation

   Answer: A

   Assessed value = $180,000 × 25% = $45,000. $45,000 ÷ 100 = 450; 450 × $2.50 = $1,125.

3. 3

   A home sells for $500,000 with a 7% commission split evenly between the listing and selling brokerages. How much does each brokerage receive?

   • A. $35,000
   • B. $17,500
   • C. $40,000
   • D. $19,250
   Show answer & explanation

   Answer: B

   Total commission = $500,000 × 7% = $35,000. Split evenly, each brokerage gets $17,500.

4. 4

   How many square feet are in a 0.25-acre parcel? (1 acre = 43,560 sq ft)

   • A. 10,890 sq ft
   • B. 5,445 sq ft
   • C. 21,780 sq ft
   • D. 10,913 sq ft
   Show answer & explanation

   Answer: A

   0.25 × 43,560 = 10,890 sq ft.

5. 5

   Annual property taxes are $9,300. Using a 365-day year, the seller is responsible for 216 days. What is the seller's prorated share?

   • A. $5,580.00
   • B. $3,796.44
   • C. $5,503.56
   • D. $6,267.95
   Show answer & explanation

   Answer: C

   Daily tax = $9,300 ÷ 365 = $25.48. Seller's share = $25.48 × 216 = $5,503.56.

6. 6

   A property valued at $300,000 is assessed at 40% of value. The tax rate is $2.50 per $100 of assessed value. What is the annual tax?

   • A. $300
   • B. $30,000
   • C. $7,500
   • D. $3,000
   Show answer & explanation

   Answer: D

   Assessed = $300,000 × 40% = $120,000. Tax = ($120,000 ÷ 100) × 2.5 = $3,000.

7. 7

   A home sells for $460,000 with a 5% commission and no other closing costs. What does the seller net?

   • A. $460,000
   • B. $432,400
   • C. $437,000
   • D. $23,000
   Show answer & explanation

   Answer: C

   Commission = $460,000 × 5% = $23,000. Net = $460,000 − $23,000 = $437,000.

8. 8

   A property valued at $190,000 is assessed at 50% of value. The tax rate is $2.00 per $100 of assessed value. What is the annual tax?

   • A. $3,800
   • B. $190
   • C. $1,900
   • D. $19,000
   Show answer & explanation

   Answer: C

   Assessed = $190,000 × 50% = $95,000. Tax = ($95,000 ÷ 100) × 2 = $1,900.

9. 9

   An investor bought a property for $150,000 and wants to sell it for a 15% profit. What must the sale price be?

   • A. $172,500
   • B. $127,500
   • C. $150,000
   • D. $22,500
   Show answer & explanation

   Answer: A

   Sale price = cost × (1 + profit%) = $150,000 × 1.15 = $172,500.

10. 10

    A home sells for $320,000 with a 7% commission and no other closing costs. What does the seller net?

    • A. $294,400
    • B. $22,400
    • C. $297,600
    • D. $320,000
    Show answer & explanation

    Answer: C

    Commission = $320,000 × 7% = $22,400. Net = $320,000 − $22,400 = $297,600.