National portion
Real Estate Math vocabulary
3 terms, defined plainly. Where a term is commonly confused with another, the definition says so — that confusion is usually the wrong answer.
- Commission math
- Sale price × rate = total commission; splits multiply down the chain (brokerage split, then agent split).
- Loan-to-value (LTV)
- Loan amount ÷ value (or price, if lower) — drives PMI and qualification.
- Proration
- Dividing an expense (taxes, rent) between buyer and seller as of closing — 'through the day of closing' vs 'to the day of' changes who pays closing day.
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Common questions
Is Real Estate Math on the real estate exam?
Yes — Real Estate Math is part of the national portion, which is the same content in every state that uses a two-portion licensing exam.
Are these the exact definitions used on the exam?
No — the exam doesn't publish definitions. These are written from the published content outlines in plain language, and deliberately call out the near-miss distinctions that wrong answers are built from.
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