Ohio Real Estate Exam Math Practice

The Ohio real estate exam includes approximately 10 to 15 math questions. Unlike some states with a state transfer tax, Ohio has no state real estate transfer tax — so math practice focuses on commission calculations, proration, financing, capitalization rates, and area problems.

Commission Calculations

Formula: Commission = Sale Price x Commission Rate

Example: A property in Columbus sells for $350,000 at a 5.5% commission. The listing broker and buyer's broker split 50/50. The buyer's broker pays their salesperson 60% of the broker's side. How much does the buyer's salesperson earn?

Total commission: 350,000 x 0.055 = $19,250 Each broker's side: 19,250 / 2 = $9,625 Salesperson share: 9,625 x 0.60 = $5,775

Proration at Closing

Ohio property taxes are paid in arrears (the prior year's taxes are paid in the current year). This affects how prorations are calculated.

Example: Ohio annual property taxes are $4,800. Closing occurs on April 1. Taxes for the current year are not yet paid. The seller owes taxes from January 1 through March 31 (90 days). How much does the seller owe the buyer in tax proration?

Daily tax rate: 4,800 / 365 = $13.15 Seller's share: 90 x 13.15 = $1,183.50

The buyer receives a credit of $1,183.50 at closing because they will pay the full year's taxes when they come due.

Loan-to-Value and PMI Threshold

Example: A buyer purchases a $275,000 home in Ohio with 10% down. What is the loan amount and LTV?

Down payment: 275,000 x 0.10 = $27,500 Loan amount: 275,000 - 27,500 = $247,500 LTV: 247,500 / 275,000 = 90%

Note: Conventional lenders typically require PMI (private mortgage insurance) when LTV exceeds 80%.

Capitalization Rate (Income Approach)

Formula: Value = NOI / Cap Rate

Example: A rental property in Cincinnati generates $48,000 in annual net operating income. The market cap rate is 8%. What is the property's estimated value?

Value = 48,000 / 0.08 = $600,000

Area and Acreage

Formula: Area = Length x Width

Example: An Ohio lot is 150 feet wide and 250 feet deep. What is the area in square feet and acres?

150 x 250 = 37,500 sq ft 37,500 / 43,560 = 0.861 acres

Mortgage Calculations — Monthly Payment Estimate

The exam may ask you to calculate monthly interest for the first month of a loan.

Formula: Monthly Interest = Loan Amount x Annual Rate / 12

Example: A $200,000 mortgage at 6% annual interest. What is the first month's interest payment?

200,000 x 0.06 / 12 = $1,000

Key Ohio Math Notes

No state transfer tax — do not calculate transfer tax for Ohio questions
Ohio taxes are in arrears — seller credits buyer for unpaid portion at closing
1 acre = 43,560 sq ft; 1 section = 640 acres; 1 township = 36 sections
PMI threshold: LTV above 80%

For more Ohio exam resources, visit [CARealestate.com/states/ohio](https://carealestate.com/states/ohio).

Ohio Real Estate Exam Math Practice