Mississippi Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Mississippi 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 Mississippi Real Estate Commission (MREC) does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Mississippi 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 · Mississippi Real Estate Commission (MREC) exam outline
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Mississippi Real Estate Math — Practice Questions & Answers
135 questions on Real Estate Math from the Mississippi real estate question bank. First 10 are free — sign up to unlock all 135.
Q1. A Mississippi property is assessed at $160,000 and the tax rate is $22.50 per $1,000 of assessed value. What is the annual property tax?
Explanation
Annual tax = ($160,000 ÷ $1,000) × $22.50 = 160 × $22.50 = $3,600. Using the values given ($160,000, $22.50), apply the appropriate formula.. The correct answer is $3,600.. This is a common calculation on the Mississippi real estate exam.
Q2. A home sold for $195,000. The listing broker and buyer's broker split the 6% commission equally. The listing agent receives 55% of the listing side commission. How much does the listing agent receive?
Explanation
Total commission = $195,000 × 6% = $11,700. Each broker's side = $11,700 ÷ 2 = $5,850. Listing agent's share = $5,850 × 55% = $3,217.50.
Q3. A buyer wants to purchase a property with a 30-year mortgage at $1,200 per month (principal and interest). If the annual interest rate is 6%, approximately how large a loan can the buyer afford? (Use factor: $5.996 per $1,000 borrowed at 6%/30 years)
Explanation
Monthly payment per $1,000 = $5.996. Loan amount = ($1,200 ÷ $5.996) × $1,000 = 200.13 × $1,000 ≈ $200,120.
Q4. A broker sold a commercial property for $875,000 and earned a 3% commission. How much commission was earned?
Explanation
Commission = $875,000 × 3% = $875,000 × 0.03 = $26,250. To solve this, multiply the relevant values: $875,000 at 3%.. The correct answer is $26,250.. This is a common calculation on the Mississippi real estate exam.
Q5. A Mississippi property sells for $225,000. The buyer pays 20% down. What is the loan amount?
Explanation
Down payment = $225,000 × 20% = $45,000. Loan amount = $225,000 − $45,000 = $180,000. To solve this, multiply the relevant values: $225,000 at 20%.. The correct answer is $180,000.. This is a common calculation on the Mississippi real estate exam.
Q6. A property was purchased for $150,000 and sold 5 years later for $195,000. What is the percentage gain?
Explanation
Gain = $195,000 − $150,000 = $45,000. Percentage gain = $45,000 ÷ $150,000 = 0.30 = 30%. Using the values given ($150,000, $195,000), apply the appropriate formula.. The correct answer is 30%.. This is a common calculation on the Mississippi real estate exam.
Q7. A Mississippi investor purchases a rental property for $120,000 and receives annual gross rents of $14,400. What is the gross rent multiplier (GRM)?
Explanation
GRM = Purchase price ÷ Annual gross rent = $120,000 ÷ $14,400 = 8.33. Using the values given ($120,000, $14,400), apply the appropriate formula.. The correct answer is 8.33.. This is a common calculation on the Mississippi real estate exam.
Q8. A property has annual gross rents of $36,000, a vacancy rate of 5%, and operating expenses of $12,000. What is the net operating income (NOI)?
Explanation
Effective gross income = $36,000 × (1 − 0.05) = $34,200. NOI = $34,200 − $12,000 = $22,200. To solve this, multiply the relevant values: $36,000, and $12,000 at 5%.. The correct answer is $22,200.. This is a common calculation on the Mississippi real estate exam.
Q9. A Mississippi salesperson earns a 3% commission on a $340,000 sale and splits it 60/40 with their broker (salesperson gets 60%). What does the salesperson earn?
Explanation
Total commission = $340,000 × 3% = $10,200. Salesperson's share = $10,200 × 60% = $6,120. To solve this, multiply the relevant values: $340,000 at 3%.. The correct answer is $6,120.. This is a common calculation on the Mississippi real estate exam.
Q10. A rectangular lot measures 200 feet by 150 feet. What is the area in acres? (1 acre = 43,560 sq ft)
Explanation
Area = 200 × 150 = 30,000 sq ft. Acres = 30,000 ÷ 43,560 = 0.688 ≈ 0.69 acres. Remember: 1 acre = 43,560 square feet. Multiply or divide as needed to convert between units.. The correct answer is 0.69 acres.. This is a common calculation on the Mississippi real estate exam.
Q11. A Mississippi property sells for $175,000. The listing broker's commission is 6%, split equally between listing and buyer's broker. How much does the listing broker receive?
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