Math

Question 1

how many decimal places should you round off to generally

Answer 1

2

Question 2

How many decimal places should you round to with interest rates?

Answer 2

3

Question 3

square area

Answer 3

length x width = area

Question 4

rectangle area

Answer 4

length x width = area

Question 5

1 square yard = ? sq. ft.

Answer 5

9

Question 6

How many sq. ft. in an acre?

Answer 6

43560

Question 7

triangle area

Answer 7

BxH/2

Question 8

Trapezoid area

Answer 8

[(A+B)/2] X Height

Question 9

Volume of a Square or Rectange

Answer 9

LxWxH

Question 10

How many cubic feet in a cubic yard?

Answer 10

27

Question 11

What are rates expressed as?

Answer 11

percentages

Question 12

Real estate whole values

Answer 12

sales price, purchase price, value, assessed value, and value, original investmnet, principal amount, annual depreciation

Question 13

Real Estate Rates

Answer 13

rate, tax rate, years of useful life

Question 14

Real Estate “Parts”

Answer 14

replacement cost, commission, interest, loss, depreciation, income, profit, taxes

Question 15

1 linear foot

Answer 15

12 inches

Question 16

3 linear feet

Answer 16

1 yard

Question 17

9 sq. ft

Answer 17

1 sq. yd

Question 18

144 sq. inches

Answer 18

1 sq ft

Question 19

27 cubic ft

Answer 19

1 cubic yard

Question 20

1 acre

Answer 20

43560 sq feet

Question 21

1 township

Answer 21

36 section

Question 22

36 sections

Answer 22

36 sq miles

Question 23

1 square miles

Answer 23

640 acres

Question 24

1 section

Answer 24

1 square mile

Question 25

1/2 mile squared

Answer 25

160 acres

Question 26

1 linear mile

Answer 26

5280 ft

Question 27

1 mill

Answer 27

1/1000

Question 28

What does net mean?

Answer 28

what is left after expenses have been deducted

Question 29

seller's rate

Answer 29

100% - broker's rate

Question 30

In net to seller problem, how do you find sales price?

Answer 30

using seller's rate

Question 31

what are most real estate loans based on?

Answer 31

simple interest

Question 32

simple interest

Answer 32

interest is paid based on the unpaid balance

Question 33

term mortgage

Answer 33

loan balance never changes; paying interest with each payment

Question 34

net income

Answer 34

gross income - expenses - vacancy factor

Question 35

Is debt service an operating expense?

Answer 35

no

Question 36

What time frame are capitalization problems in?

Answer 36

annual

Question 37

ANOI

Answer 37

Annual Net Operating Income

Question 38

in Profit or Loss problems, what is the whole?

Answer 38

original price or original acquisition price

Question 39

Average Appreciation Formula

Answer 39

Original Price x (1+(appreciation % * t))

Question 40

What is the standard downpayment?

Answer 40

20% on a non-insured conventional loan

Question 41

What are discount points based on?

Answer 41

loan amount

Question 42

What are origination fees based on?

Answer 42

loan amount

Question 43

1 point is what % of a loan?

Answer 43

1%

Question 44

WHat is the major purpose of points?

Answer 44

To increase the lender's yield

Question 45

What are discount points?

Answer 45

prepaid interest

Question 46

Annual Tax Bill

Answer 46

units of tax ($ amount in the tax rate)

Question 47

Units of tax

Answer 47

assessed value / per figure

Question 48

assessed value

Answer 48

appraised value (assessment rate)

Question 49

What does amortization refer to

Answer 49

liquidation

Question 50

liquidation

Answer 50

reducing the loan amount wiht each payment

Question 51

In an amortized loan, each payment is made up of what 2 parts?

Answer 51

1. interest | 2. principal reduction

Question 52

Steps to amortize loan

Answer 52

1. loan amount x interest rate = annual interest 2. annual interest / 12 = monthly interest 3. principal & interest payment - monthly interest = principal reduction 4. loan amount - principal reduction = new loan amount 5. start over using new loan balance for next month

Question 53

Annual interest for amortization

Answer 53

loan amount x interest rate

Question 54

Monthly interest

Answer 54

annual interest / 12

Question 55

Principal Reduction

Answer 55

principal & monthly payment - monthly interest

Question 56

New Loan Amount

Answer 56

loan amount - principal reduction

Question 57

proration

Answer 57

when a number of days of some items (taxes, insurance, rent, etc.) is debited to the buyer or seller and credited to the buyer or seller

Question 58

How many days are in a prorated year?

Answer 58

360

Question 59

How many days are in a month in a prorated year?

Answer 59

30

Question 60

When are things paid in advance paid for the year?

Answer 60

January 1

Question 61

When are things paid in arrears paid for the year?

Answer 61

December 30

Question 62

How do you know the front footage of a lot?

Answer 62

number written first