Florida Real Estate Math Practice Questions and Answers (2026)

Real estate math is one of the most improvable parts of the Florida exam, because the formula universe is small and the questions repeat the same setups. The fastest way to lock it in is not rereading formulas. It is solving questions cold, checking your setup, and seeing which wrong answer the exam was trying to feed you.

That is what this page is for. Below are 21 Florida-style practice questions with multiple-choice options, the correct answer, a step-by-step solution, and the trap. They are grouped by calculation type so you can target a weak area or work straight through.

If you need to learn the formula first, read the Florida real estate exam math formulas guide. That page teaches each setup with a reference cheat sheet. This page is the practice set you use after, or instead, to test whether the formulas actually transfer under question pressure.

If math makes you freeze before you start, begin with the calmer setup routine in Florida real estate exam math if you are bad at math, then come back here.

How to use this practice set

Snippet answer: Cover the answer, read the scenario, solve it on paper with a calculator, then check the worked solution and read the trap note before moving on.

The answers sit directly under each question. To get the real benefit, treat the page like a test:

1. Read the scenario and the four options before looking down.
2. Solve it yourself with a basic calculator. Write the setup.
3. Pick your answer, then check the worked solution.
4. Read the trap note. That is the mistake the wrong options are built to catch.

Score yourself at the end using the scoring guide. A miss on setup is more useful than a guess that happens to land, so be honest about which ones you actually worked.

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What this guide covers

• How to use this practice set
• Commission and splits (Questions 1-2)
• Financing: LTV, points, and payments (Questions 3-5)
• Area and legal descriptions (Questions 6-8)
• Property tax and millage (Questions 9-10)
• Proration (Questions 11-12)
• Transfer taxes (Questions 13-14)
• Investment math: cap rate, NOI, GRM (Questions 15-17)
• Value over time and net-to-seller (Questions 18-21)
• Score yourself
• The setup mistakes that cost the most points
• Frequently Asked Questions

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Commission and splits

Snippet answer: Commission math is sale price times rate, then apply the splits in the exact order the question gives them, and re-read what the question is actually asking for.

Question 1

A property sells for $360,000. The listing broker charges a 6% commission and splits it 50/50 with the selling broker. The selling associate receives 70% of the selling broker's share. How much does the selling associate earn?

• A. $7,560
• B. $10,800
• C. $15,120
• D. $21,600

Answer: A. $7,560

• Total commission: $360,000 x 0.06 = $21,600
• Selling broker's share: $21,600 x 0.50 = $10,800
• Associate's share: $10,800 x 0.70 = $7,560

Trap: Option D is the total commission, B is the broker's share, and C is 70% of the total commission. Each is a point where students stop too early or multiply the wrong number. Re-read the question: it asks for the associate's earnings.

Question 2

A sales associate earned $5,040 on a sale, which was 60% of the broker's share. The broker received 50% of the total commission, and the commission rate was 6%. What was the sale price?

• A. $84,000
• B. $168,000
• C. $280,000
• D. $16,800

Answer: C. $280,000

Work backward, dividing at each step:

• Broker's share: $5,040 / 0.60 = $8,400
• Total commission: $8,400 / 0.50 = $16,800
• Sale price: $16,800 / 0.06 = $280,000

Trap: Option D stops at the total commission. Working backward means dividing, not multiplying. If you multiplied anywhere, you went the wrong direction and your answer will not match a clean choice.

Practice these forward and backward with the Commission Split Calculator.

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Financing: LTV, points, and payments

Snippet answer: Loan-to-value is loan divided by value, discount points are a percentage of the loan, and a factor-table payment divides the loan by 1,000 first.

Question 3

A buyer purchases a home for $295,000 with a $250,750 mortgage. What is the loan-to-value (LTV) ratio, and does the loan typically require private mortgage insurance (PMI)?

• A. 85%, PMI is typically required
• B. 85%, no PMI
• C. 15%, no PMI
• D. 90%, PMI is typically required

Answer: A. 85%, PMI is typically required

• LTV: $250,750 / $295,000 = 0.85 = 85%
• Down payment: $295,000 - $250,750 = $44,250, which is 15%

Conventional loans with an LTV above 80% (less than 20% down) typically require PMI. At 85% LTV, this loan usually does.

Trap: Option C reports the down payment percentage instead of the LTV. They are complements (15% down means 85% LTV), so read which one the question wants.

Question 4

A buyer agrees to purchase a home for $340,000, but it appraises at $325,000. The lender will lend up to 80% loan-to-value and uses the lower of the sale price or the appraised value. If the buyer proceeds at the agreed price, what is the minimum down payment, meaning the cash needed beyond the loan?

• A. $65,000
• B. $68,000
• C. $80,000
• D. $260,000

Answer: C. $80,000

• Maximum loan: 80% of the lower value ($325,000) = $260,000
• Down payment: $340,000 purchase price - $260,000 loan = $80,000

Trap: The lender caps the loan using the lower appraised value, but the buyer still pays the full $340,000 purchase price, so the appraisal gap comes out of pocket. Option A is only 20% of the appraised value and forgets that gap. Option B is 20% of the price and ignores the appraisal cap. Option D is the loan amount, not the down payment.

Question 5

A buyer takes a $240,000 loan and pays 2.5 discount points to lower the rate. What do the points cost at closing?

• A. $600
• B. $2,500
• C. $6,000
• D. $60,000

Answer: C. $6,000

• Cost of points: 2.5 x $240,000 x 0.01 = $6,000

One discount point is 1% of the loan amount. Using the common exam convention that each point raises the lender's yield by about one-eighth of one percent, 2.5 points raises yield roughly 0.3125%.

Trap: Points are a percentage of the loan, not a flat fee and not a percentage of the sale price. Option B treats a point as $1,000.

Test these against the LTV and Down Payment Calculator.

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Area and legal descriptions

Snippet answer: Area questions are conversion problems: 1 acre is 43,560 square feet, 1 section is 640 acres, so convert to a common unit before you compare.

Question 6

A rectangular lot measures 250 feet by 435.6 feet. How many acres is it?

• A. 2.0 acres
• B. 2.5 acres
• C. 3.0 acres
• D. 25 acres

Answer: B. 2.5 acres

• Square feet: 250 x 435.6 = 108,900
• Acres: 108,900 / 43,560 = 2.5

Trap: Forgetting the 43,560 conversion factor, or dividing in the wrong direction. If your answer is wildly large or small, check which way the conversion goes.

Question 7

Home A is 2,400 square feet and sells for $432,000. Home B is 2,000 square feet and sells for $380,000. Which has the lower price per square foot?

• A. Home A, at $180 per square foot
• B. Home B, at $180 per square foot
• C. Home A, at $190 per square foot
• D. Home B, at $190 per square foot

Answer: A. Home A, at $180 per square foot

• Home A: $432,000 / 2,400 = $180.00 per square foot
• Home B: $380,000 / 2,000 = $190.00 per square foot

Trap: A higher total price does not mean a higher cost per square foot. Home A costs more in total but less per square foot. The exam tests whether you divide instead of comparing sticker prices.

Question 8

How many acres are in the N 1/2 of the SW 1/4 of the NE 1/4 of a section?

• A. 10 acres
• B. 20 acres
• C. 40 acres
• D. 80 acres

Answer: B. 20 acres

• Multiply the fractions: 1/2 x 1/4 x 1/4 = 1/32
• Multiply by the section size: 1/32 x 640 = 20 acres

Trap: Dropping one of the fractions. Chain every fraction in the description, smallest piece first, then multiply by 640 acres. Option C is what you get if you skip the 1/2.

Convert section fractions and lot sizes with the Area and Acreage Calculator.

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Property tax and millage

Snippet answer: Subtract the exemption from assessed value first, then multiply the taxable value by the millage rate divided by 1,000.

Question 9

A property has a taxable value of $240,000. The combined millage rate is 19.5 mills. What is the annual property tax?

• A. $468
• B. $4,680
• C. $4,860
• D. $46,800

Answer: B. $4,680

• Property tax: $240,000 x 19.5 / 1,000 = $4,680

One mill is $1 per $1,000 of taxable value, so 19.5 mills is 0.0195 as a decimal. $240,000 x 0.0195 = $4,680 gives the same result.

Trap: Misplacing the decimal. Dividing by 100 instead of 1,000 gives $46,800 (Option D), which is ten times too high.

Question 10

A homesteaded property has an assessed value of $200,000. The question states that a combined $50,000 homestead exemption applies to all millage. The total millage rate is 18 mills. What is the annual property tax?

• A. $2,700
• B. $2,790
• C. $3,600
• D. $270

Answer: A. $2,700

• Taxable value: $200,000 - $50,000 = $150,000
• Property tax: $150,000 x 18 / 1,000 = $2,700

Trap: Option C ($3,600) applies the millage to the full $200,000 without subtracting the exemption. Subtract the exemption first, then multiply. Note that real Florida homestead in 2026 splits into a school layer and a higher non-school layer rather than a flat $50,000. Use the figure the question states, and see the homestead exemption guide for the full current-law split.

Run any value, exemption, and millage in the Millage and Property Tax Calculator.

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Proration

Snippet answer: Find the daily rate first, then multiply by the days assigned to the party, using a 365-day year for taxes and HOA and a 360-day year only when the question says banker's year or 30/360.

Question 11

Annual property taxes are $5,475 and have not been paid. The closing date is June 1, the seller owns the day of closing, and the proration uses the 365-day method. How much does the seller owe as a credit to the buyer?

• A. $2,265
• B. $2,280
• C. $2,295
• D. $3,195

Answer: B. $2,280

• Daily rate: $5,475 / 365 = $15.00 per day
• Days the seller owned (January 1 through June 1): 31 + 28 + 31 + 30 + 31 = 151, plus June 1 = 152 days
• Seller's share: $15.00 x 152 = $2,280

Florida property taxes are paid in arrears, so the seller owes their share of the unpaid current-year taxes as a credit to the buyer.

Trap: Option A counts 151 days and forgets that the seller owns the closing day here. Option D is the rest of the year (the buyer's share). Read who owns the closing day.

Question 12

A buyer assumes a mortgage with annual interest of $9,000. Closing is May 6, and interest is prorated on a 30/360 basis through the closing date. How much interest does the seller owe?

• A. $3,125
• B. $3,150
• C. $3,750
• D. $25

Answer: B. $3,150

• Daily rate: $9,000 / 360 = $25.00 per day
• Days (January through May 6, 30-day months): 30 + 30 + 30 + 30 + 6 = 126 days
• Seller's share: $25.00 x 126 = $3,150

Trap: On a 30/360 basis, every month counts as 30 days, even months with 31. Counting actual calendar days here would overstate the total. Use 360-day math only when the question says banker's year, 30/360, or ordinary interest.

Set up either scenario in the Proration Calculator, and read the full method in proration on the Florida exam.

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Transfer taxes

Snippet answer: Deed documentary stamps are $0.70 per $100 in most counties, recorded mortgage stamps are $0.35 per $100, intangible tax is 0.002 of the loan, and Miami-Dade single-family deeds use $0.60.

Question 13

A home sells for $450,000, and the buyer finances $360,000 in a standard Florida county. What is the combined total of deed documentary stamps, mortgage documentary stamps, and intangible tax?

• A. $4,410
• B. $5,130
• C. $5,850
• D. $6,300

Answer: B. $5,130

• Deed stamps: $450,000 / $100 x $0.70 = $3,150
• Mortgage stamps: $360,000 / $100 x $0.35 = $1,260
• Intangible tax: $360,000 x 0.002 = $720
• Total: $3,150 + $1,260 + $720 = $5,130

Trap: Option A leaves out the intangible tax. Option C applies the $0.70 deed rate to the mortgage instead of $0.35. The deed rate uses the sale price; the mortgage stamps and intangible tax use the loan amount.

Question 14

A single-family home in Miami-Dade County sells for $480,000. What are the documentary stamp taxes on the deed?

• A. $2,400
• B. $2,880
• C. $3,360
• D. $5,040

Answer: B. $2,880

• Deed stamps: $480,000 / $100 x $0.60 = $2,880

Miami-Dade charges $0.60 per $100 on deeds for single-family residences, not the standard $0.70.

Trap: Option C uses the standard $0.70, which is the most common wrong answer. Option D uses the $1.05 rate that applies to Miami-Dade property that is not single-family. Match the rate to both the county and the property type.

Run any sale price through the Documentary Stamp Tax Calculator, or read documentary stamps and closing costs.

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Investment math: cap rate, NOI, GRM

Snippet answer: Cap rate is net operating income divided by value, net operating income excludes the mortgage payment, and gross rent multiplier uses gross annual rent before expenses.

Question 15

An apartment building has a net operating income (NOI) of $63,000. Comparable properties sell at a 7% cap rate. What is the estimated value using the income approach?

• A. $9,000
• B. $90,000
• C. $441,000
• D. $900,000

Answer: D. $900,000

• Value = NOI / cap rate
• Value = $63,000 / 0.07 = $900,000

Trap: Option A divides by 9 instead of 0.07. Convert the percentage to a decimal first: 7% is 0.07. Dividing by the whole number gives an answer 100 times too small.

Question 16

A property has potential gross rent of $120,000 per year. Vacancy and collection loss is 6%, annual operating expenses are $34,000, and the annual mortgage payment is $40,000. What is the NOI?

• A. $38,800
• B. $78,800
• C. $80,000
• D. $86,000

Answer: B. $78,800

• Vacancy loss: $120,000 x 0.06 = $7,200
• Effective gross income: $120,000 - $7,200 = $112,800
• NOI: $112,800 - $34,000 = $78,800

Trap: Option A subtracts the $40,000 mortgage payment. NOI is income before financing, so debt service is not part of it. Operating expenses do not include the mortgage.

Question 17

A triplex sells for $540,000, and each of the three units rents for $1,500 per month. What is the gross rent multiplier (GRM)?

• A. 8
• B. 10
• C. 12
• D. 30

Answer: B. 10

• Gross annual rent: $1,500 x 3 units x 12 months = $54,000
• GRM: $540,000 / $54,000 = 10

Trap: Option D ($30) forgets to multiply by the three units and uses one unit's annual rent. GRM uses total gross annual rent for the whole property, before any expenses.

Solve any of these in the Cap Rate, NOI and GRM Calculator, or read cap rate on the Florida exam.

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Value over time and net-to-seller

Snippet answer: Straight-line appreciation is value times rate times years, depreciation uses the building value only, and net-to-seller divides by one minus the commission rate.

Question 18

A home is purchased for $280,000 and appreciates 5% per year on a straight-line basis for 4 years. What is its value at the end of year 4?

• A. $294,000
• B. $336,000
• C. $340,452
• D. $56,000

Answer: B. $336,000

• Total appreciation: $280,000 x 0.05 x 4 = $56,000
• Future value: $280,000 + $56,000 = $336,000

Trap: Option D is the appreciation amount only, not the new value. Option C is the compound result. Straight-line applies the rate to the original value each year, not to the growing balance, unless the question says it compounds.

Question 19

An investor buys a nonresidential building for $500,000. The land is valued at $120,000 and the building at $380,000. Using a 39-year useful life, what is the annual straight-line depreciation deduction?

• A. $3,077
• B. $9,744
• C. $12,821
• D. $13,793

Answer: B. $9,744

• Depreciable basis (building only): $380,000
• Annual depreciation: $380,000 / 39 = $9,743.59, about $9,744

Trap: Option C depreciates the full $500,000 including land. For exam depreciation questions, land is not depreciated. Option D uses the 27.5-year residential life instead of 39 years for nonresidential property.

Question 20

A seller wants to net $200,000 after paying off a $150,000 mortgage, a 6% commission, and $3,000 in other fixed closing costs. What must the property sell for?

• A. $333,000
• B. $353,000
• C. $374,180
• D. $375,532

Answer: D. $375,532

• Add the net and fixed costs: $200,000 + $150,000 + $3,000 = $353,000
• Divide by 1 minus the commission rate: $353,000 / (1 - 0.06) = $353,000 / 0.94 = $375,531.91

Trap: Option C adds 6% to the $353,000 instead of dividing by 0.94. The commission is a percentage of the larger unknown sale price, not of the smaller net, so you divide. Option B forgets the commission entirely.

Question 21

A buyer takes a $315,000 mortgage. The amortization factor table in the question lists a factor of 5.80 per $1,000 for the loan's rate and term. What is the monthly principal and interest (P&I) payment?

• A. $1,827
• B. $5,800
• C. $18,270
• D. $54,810

Answer: A. $1,827

• Loan in thousands: $315,000 / 1,000 = 315
• Monthly P&I: 315 x 5.80 = $1,827

Trap: Option C forgets to divide by 1,000 first. The factor is a payment per $1,000 of loan, not a percentage of the whole loan. This is P&I only; a full monthly payment of principal, interest, taxes, and insurance (PITI) would add property taxes and insurance on top.

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Score yourself

Snippet answer: Count only the questions you solved before checking the answer, and use your weak types to choose what to drill next.

Tally the questions you answered correctly on your own:

• 19 to 21 correct: Math is a strength. Keep it sharp with mixed timed practice so it holds up under exam pressure.
• 14 to 18 correct: Solid, with a few setup gaps. Note which calculation types you missed and drill those specifically.
• 10 to 13 correct: The formulas are landing but the setups are inconsistent. Re-read the math formulas guide and rework the questions you missed.
• 9 or fewer correct: Start with the foundations. Work the bad-at-math routine first, then return here one calculation type at a time.

The exam gives you roughly two minutes per question. That is enough time to solve a math problem if you already know the setup. It is not enough time to figure out the formula during the question. That is why repeated drilling matters more than rereading.

The setup mistakes that cost the most points

Snippet answer: Most math misses are setup errors: answering the wrong question, using the wrong tax rate, applying millage before the exemption, skipping the decimal conversion, or miscounting proration days.

Across the 21 questions above, the wrong answers cluster around five repeatable mistakes:

1. Answering the wrong question. You found the total commission when it asked for the associate's share, or the loan when it asked for the down payment. Re-read the stem after you solve.
2. Confusing the two doc stamp rates. Deed stamps are $0.70 per $100, recorded mortgage stamps are $0.35 per $100. Mixing them doubles or halves the answer.
3. Wrong order on property tax. Subtract the exemption first, then apply the millage. The reverse produces a close but wrong number.
4. Skipping the decimal conversion. 7% is 0.07, and 19.5 mills is 0.0195. A misplaced decimal makes the answer 10 or 100 times off.
5. Miscounting proration days. Count full months first, then add the remaining days, and confirm whether the year is 365 or 360.

If you missed a question, find its calculation type in the formula guide and rework it until the setup is automatic.

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Ready to drill Florida math under exam pressure?

Snippet answer: Use the free math drill for setup reps, the free timed practice exam for pressure, and the app when you want the full Math Coach loop.

You have now worked a full spread of Florida exam math. The next step is repetition until you recognize each setup without a topic label in front of it.

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Frequently Asked Questions

How many math questions are on the Florida real estate exam?

DBPR's Candidate Information Booklet does not publish a fixed number of math questions. Math is spread across several of the 100 questions, inside brokerage activities, legal descriptions, residential mortgages, real estate computations, closing of transactions, appraisal, taxes, and investment analysis. Plan for math to appear throughout, not in one labeled block.

What math formulas do I need for the Florida exam?

The 14 calculation types these questions cover: commission, loan-to-value, area and acreage, property tax and millage, proration, gross rent multiplier, mortgage payment, appreciation and depreciation, transfer taxes, cap rate, net operating income, discount points, net-to-seller, and section or township area. The formula guide lists each one with a worked example.

Can I use a calculator on the Florida real estate exam?

Current DBPR candidate instructions permit only calculators that are silent, handheld, battery-operated, nonprinting, and not information-storage devices. Practice with a simple calculator and confirm the current rules before exam day, since the test center controls the final decision. For which models are allowed, see the best calculator for the Florida exam guide.

Should I use a 365-day or 360-day year for proration?

Use the method the question gives you. Default to 365 days for property tax and HOA proration. Use 360 days with 30-day months only when the question says banker's year, 30/360, or ordinary interest, which usually applies to interest and some lender fees.

Why do my answers sometimes not match any option?

That usually means a setup error, not an arithmetic error. The most common causes are working in the wrong direction (multiplying when you should divide), using the sale price where the loan amount belongs, or misplacing a decimal. If no option matches, recheck the setup before the arithmetic.

Are these the actual Florida exam questions?

No. These are original practice questions written to match the patterns and difficulty of Florida exam math. Reusing real exam questions is prohibited. The value is in drilling the setups, which repeat even though the specific numbers change every time.

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Methodology

These are original practice questions written to mirror Florida sales associate exam math patterns, not copied exam questions. Every answer was solved and checked step by step. The Florida-specific facts used in the questions and solutions were verified on June 26, 2026 against the DBPR-hosted Florida Real Estate Sales Associate Candidate Information Booklet, the Florida Department of Revenue documentary stamp and intangible tax pages, and the currently published 2025 Florida Statutes, consistent with the Florida exam math formulas guide. The documentary stamp rates ($0.70 and $0.35 per $100), the intangible tax rate (0.002), the Miami-Dade single-family deed rate ($0.60 per $100), and the homestead structure reflect current Florida law as of that date. The discount-points yield convention (about one-eighth percent per point) and the mortgage payment factor method are standard exam-prep conventions; a question will state its own factor or relationship when it differs. The trap notes and scoring bands are Pass Florida study frameworks based on Florida exam-prep patterns, not official DBPR scoring.

Product note

Pass Florida is an educational exam-prep tool for Florida sales associate candidates and is our Florida-specific exam-prep app, so the relationship is direct and disclosed. It includes 1,002 Florida-specific practice questions, a 19-topic diagnostic, six modes, Math Coach across the 14 Florida math calculation types, Trap Library, Confidence Calibration, offline access, optional sync, lifetime updates, and one $39.99 purchase. No subscription. No copied exam questions. Pass Florida is independent exam preparation, not a DBPR-approved 63-hour pre-license course, post-license course, continuing education course, Pearson VUE scheduling service, tax service, or legal service. It does not provide licensing credit and does not guarantee passage.

Sources

• DBPR Florida Real Estate Sales Associate Candidate Information Booklet
• Florida Department of Revenue: Documentary Stamp Tax
• Florida Department of Revenue: Nonrecurring Intangible Tax
• Florida Statutes: F.S. 201.02, documentary stamp tax on deeds
• Florida Statutes: F.S. 201.08, documentary stamp tax on notes and recorded mortgages
• Florida Statutes: F.S. 199.133, nonrecurring intangible tax
• Florida Statutes: F.S. 196.031, homestead exemption

All information reviewed June 26, 2026.

This post is exam preparation content for the Florida Real Estate Sales Associate exam. It is not legal, tax, financial, lending, appraisal, brokerage, insurance, title, closing, or professional advice. For real-world decisions, verify current requirements with the official source or consult a qualified licensed Florida professional.