Maine Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Maine real estate exam and test a focused set of calculations: commission splits, prorations (property tax, rent, interest), loan-to-value ratios, appreciation and depreciation, and area calculations. The Maine Real Estate Commission does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Maine candidates consistently lose points on proration questions because they apply the wrong day-count convention (360-day vs. 365-day year) or miscalculate the seller's vs. buyer's share. Work through every problem in this section until you can solve each type without hesitation.
Updated May 2026 · Maine Real Estate Commission exam outline
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Maine Real Estate Math — Practice Questions & Answers
183 questions on Real Estate Math from the Maine real estate question bank. First 10 are free — sign up to unlock all 183.
Q1. A Maine property is listed at $425,000 and sells for 96% of the list price. What is the final sales price?
Explanation
Sales price = $425,000 × 0.96 = $408,000. To solve this, multiply the relevant values: $425,000 at 96%.. The correct answer is $408,000.. This is a common calculation on the Maine real estate exam.
Q2. A seller owes $145,000 on their mortgage. The home sells for $265,000, and closing costs are $6,000 (including a 5% commission). What are the seller's net proceeds?
Explanation
Commission = $265,000 × 0.05 = $13,250. Total closing costs = $6,000 (which includes the $13,250 commission per the problem; interpreting $6,000 as additional costs beyond commission: Total deductions = $13,250 + $6,000 + $145,000 = $164,250. Net = $265,000 − $164,250 = $100,750).
Q3. An investor buys a property for $150,000 and expects a 9% annual return. What annual income must the property generate?
Explanation
Required annual income = Investment × Expected return rate = $150,000 × 0.09 = $13,500. To solve this, multiply the relevant values: $150,000 at 9%.. The correct answer is $13,500.. This is a common calculation on the Maine real estate exam.
Q4. A property sold for $295,000. The listing broker and selling broker split a 6% commission equally. Each broker then pays their agent 55% of their share. How much does each agent earn?
Explanation
Total commission = $295,000 × 0.06 = $17,700. Each broker's share = $17,700 ÷ 2 = $8,850. Each agent's share = $8,850 × 0.55 = $4,867.50.
Q5. A Maine property listed at $450,000 sells for 96% of the listing price. What is the sale price?
Explanation
Sale price = $450,000 x 0.96 = $432,000. To solve this, multiply the relevant values: $450,000 at 96%.. The correct answer is $432,000.. This is a common calculation on the Maine real estate exam.
Q6. A Maine broker earns a 5.5% commission on a $380,000 sale. The cooperating broker splits 50/50. How much does each broker receive?
Explanation
Total commission = $380,000 x 5.5% = $20,900. Each broker's share = $20,900 / 2 = $10,450. To solve this, multiply the relevant values: $380,000 at 5.5%.. The correct answer is $10,450.. This is a common calculation on the Maine real estate exam.
Q7. A rectangular Maine lot is 120 feet wide and 200 feet deep. What is the lot area in square feet?
Explanation
Area = Width x Depth = 120 x 200 = 24,000 sq ft. Remember: 1 acre = 43,560 square feet. Multiply or divide as needed to convert between units.. The correct answer is 24,000 sq ft.. This is a common calculation on the Maine real estate exam.
Q8. A Maine investment property generates gross rental income of $60,000 per year. Vacancy and collection losses are 5%, and operating expenses are $20,000. What is the net operating income (NOI)?
Explanation
Effective gross income = $60,000 x (1 - 0.05) = $57,000. NOI = $57,000 - $20,000 = $37,000. To solve this, multiply the relevant values: $60,000 and $20,000 at 5%.. The correct answer is $37,000.. This is a common calculation on the Maine real estate exam.
Q9. A Maine property sold for $265,000. The buyer paid 10% down and financed the remainder. What was the loan-to-value ratio?
Explanation
Loan-to-value ratio = Loan amount / Property value = ($265,000 x 90%) / $265,000 = 90%. To solve this, multiply the relevant values: $265,000 at 10%.. The correct answer is 90%.. This is a common calculation on the Maine real estate exam.
Q10. A Maine property has an assessed value of $240,000 and a mill rate of 15 mills. What is the annual property tax?
Explanation
Property tax = Assessed value x Mill rate / 1,000 = $240,000 x 15 / 1,000 = $3,600. Using the values given ($240,000), apply the appropriate formula.. The correct answer is $3,600.. This is a common calculation on the Maine real estate exam.
Q11. A Maine licensee earns a 6% commission on a $310,000 sale. The listing broker retains 60% and the buyer's broker receives 40%. How much does the buyer's broker receive?
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