Real Estate Exam Question of the Day
One exam-style question a day for the California, Texas, Florida and New York salesperson exams. Pick your state, choose an answer and see why it's right and where the rule comes from. A new question goes up every day at midnight Pacific.
Monday, October 12
Cost Approach
A new elevated freeway is built right next to a well-maintained house, and the noise lowers the home's value. In the cost approach, what type of depreciation is this?
Real Estate Math Calculations · National section
A home sells for $350,000. The listing agreement provides for a total commission of 6% of the sale price. What is the total commission?
Residential Mortgages
A buyer agrees to pay $300,000 for a home that appraises for $290,000. The lender will lend 90% loan-to-value. How much must the buyer pay as a down payment?
Estates and Interests in Real Property
Two friends, who are not married to each other, buy a house together. The deed names them both but says nothing about the form of ownership. They own the house as:
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