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National Exam > Chapter 8 > Flashcards

Chapter 8 Flashcards

1
Q

Percent

A

Many real estate problems involve a rate or percent. A percent is a number expressed as part of 100
total parts. Therefore 6% means 6 out of 100 parts

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2
Q

A part is a

A

% of the total

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3
Q

Part =

A

% x total

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4
Q

If part = % x Total, then

A

Part / Total = %
&
Part / % = Total

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5
Q

If you are looking for the %

A

Part over Total, or Part divided by Total will give you the %.

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6
Q

If you are looking for the Part

A

% x Total = Part

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7
Q

If you are looking for the Total

A

Part over %, or Part divided by % will give you the Total

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8
Q

Area of a square or rectangle

A

L x W

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9
Q

The result will be in square units

A

square feet, square yards, etc.

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10
Q

To change square feet to square yards

A

Divide by 9

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11
Q

1 Acre

A

43,560 square feet

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12
Q

1 Mile

A

5280 feet

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13
Q

Taxable value divided by 1000 x mills =

A

tax

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14
Q

Loan amount divided by 1000 x loan factor =

A

monthly principal and interest amount

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15
Q

Commission =

A

Commission rate x sales price

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16
Q

Interest =

A

Interest rate x principle

17
Q

Profit =

A

Profit rate x original cost

18
Q

Tax =

A

Tax rate x assessed value

19
Q

Loan =

A

LTV rate x sale price

20
Q

Sale price =

A

A percent x list price

21
Q

Net annual income =

A

Capitalization rate x market value

22
Q

A point =

A

One percent x loan

23
Q

Appreciation =

A

Appreciation rate x original value

24
Q

Appreciated value =

A

100% + appreciation % X original value

25
Q

Depreciation =

A

Depreciation rate x original value

26
Q

Depreciation value =

A

100% - depreciation % X original value

27
Q

PITI =

A

28% x monthly income

National Exam (8 decks)

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