17. Real Estate Math
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Questions and Answers

How many square feet are there in an acre of land?

  • 50,000
  • 100,000
  • 43,560 (correct)
  • 10,000

What does 'debit' indicate at the closing table?

  • Discount applied automatically
  • Party owes that amount at closing (correct)
  • Party receives payment at closing
  • No financial transactions needed

What is the formula for calculating part when given the whole and percentage?

  • Part = Whole - %
  • Part = Whole + %
  • Part = Whole / %
  • Part = Whole x % (correct)

In real estate, what does payment in arrears mean?

<p>Paying after having the benefit (A)</p> Signup and view all the answers

What is the area formula for squares and rectangles?

<p>Area = Length x Width (A)</p> Signup and view all the answers

What does 'prorate' mean in real estate math?

<p>To allocate, distribute, or assess pro rata (A)</p> Signup and view all the answers

In real estate, what does 'payment in advance' mean?

<p>Paying before receiving the benefit of the service (A)</p> Signup and view all the answers

What is the meaning of 'credit' at the closing table in real estate?

<p>The party receives an amount (C)</p> Signup and view all the answers

What does the abbreviation 'ft.' stand for in real estate math?

<p>Foot (A)</p> Signup and view all the answers

What does the abbreviation 'in.' stand for in real estate math?

<p>Inches (B)</p> Signup and view all the answers

What must be included in any solicitation materials intended to be the first point of contact with consumers?

<p>Business license number (B)</p> Signup and view all the answers

For online advertising, what must a broker do to ensure compliance with regulations?

<p>Establish procedures for responding to inquiries (D)</p> Signup and view all the answers

In loan ads, what is prohibited without a supporting statement of fact?

<p>Using the word 'safe' (A)</p> Signup and view all the answers

What must be revealed in ads for promissory notes if a different yield or return is promised?

<p>Discount rate (A)</p> Signup and view all the answers

If attendance at a sales presentation is required to receive a gift, what must be done according to regulations?

<p>Disclose the terms upfront (C)</p> Signup and view all the answers

Which term should not be used in loan ads without an explicit supporting statement?

<p>'Safe' (C)</p> Signup and view all the answers

What is required in any solicitation material that serves as the first point of contact with potential clients?

<p>'License ID number' (A)</p> Signup and view all the answers

What should be revealed if an ad for a promissory note promises a different yield than the specified rate?

<p>'Discount' at which note is sold (A)</p> Signup and view all the answers

What should a broker do to ensure compliance with regulations when it comes to online advertising?

<p>'Establish procedures' for responding to inquiries (A)</p> Signup and view all the answers

What is prohibited in loan ads unless supported by factual statements?

<p>Promises of high yields on promissory notes (C)</p> Signup and view all the answers

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