California Real Estate Exam: Math & Calculations
Master the essential math and calculation skills tested on the California Real Estate Salesperson Exam. Covers commission splits, property valuation, loan calculations, proration, and investment analysis with 20 targeted flashcards designed to boost your exam score.
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Question 1
A home sells for $485,000. The listing broker charges a 6% commission and agrees to split it 50/50 with the buyer's broker. The listing salesperson receives 60% of the listing broker's share. How much does the listing salesperson earn?
Answer
The total commission is $29,100. The listing broker's 50% share is $14,550. The salesperson earns 60% of $14,550 = $8,730.
Question 2
A salesperson earned $11,250 on a transaction where the commission rate was 5% and the broker/salesperson split was 50/50. What was the sale price of the property?
Answer
The salesperson's share is 50% of 5%, which is 2.5%. Divide $11,250 by 0.025 = $450,000.
Question 3
A seller nets $320,000 after paying a 4% commission. What was the sale price of the property?
Answer
The seller keeps 96% of the sale price. Divide $320,000 by 0.96 = $333,333.33.
Question 4
A buyer obtains an 80% LTV loan on a property purchased for $375,000. What is the loan amount and required down payment?
Answer
Loan amount = 80% × $375,000 = $300,000. Down payment = 20% × $375,000 = $75,000.
Question 5
A borrower has a $240,000 loan at 7% annual interest. What is the interest portion of the very first monthly payment?
Answer
Annual interest = $240,000 × 0.07 = $16,800. Divide by 12 = $1,400 in interest for the first month.
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