North Carolina Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every North Carolina 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 North Carolina Real Estate Commission (NCREC) does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. North Carolina 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.
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North Carolina Real Estate Math — Practice Questions & Answers
138 questions on Real Estate Math from the North Carolina real estate question bank. First 10 are free — sign up to unlock all 138.
Q1. A listing broker receives a 6% commission on the sale of a $350,000 home. The listing broker splits the commission 50/50 with the selling broker. How much does the listing broker receive?
Explanation
Total commission = $350,000 x 6% = $21,000. Each broker receives $21,000 / 2 = $10,500.
Q2. A property is listed at $425,000. The buyer offers $410,000. If the seller accepts, what is the commission at 5.5%?
Explanation
Commission = $410,000 x 5.5% = $22,550.
Q3. A North Carolina property has an assessed value of $240,000. The tax rate is $1.10 per $100 of assessed value. What is the annual tax?
Explanation
Annual tax = ($240,000 / $100) x $1.10 = 2,400 x $1.10 = $2,640.
Q4. A buyer pays $380,000 for a home and takes out an 80% LTV loan. How much is the down payment?
Explanation
Loan amount = $380,000 x 80% = $304,000. Down payment = $380,000 - $304,000 = $76,000 (20% of $380,000).
Q5. A rectangular lot measures 150 feet wide by 200 feet deep. What is the lot size in square feet?
Explanation
Area = 150 ft x 200 ft = 30,000 square feet.
Q6. How many acres is a lot that measures 30,000 square feet? (1 acre = 43,560 sq ft)
Explanation
30,000 / 43,560 = 0.689 acres, approximately 0.69 acres.
Q7. A home sells for $425,000 and the broker charges a 5.5% commission. What is the total commission?
Explanation
$425,000 x 5.5% = $425,000 x 0.055 = $23,375.
Q8. A property is assessed at 80% of its $350,000 market value. The tax rate is $1.20 per $100 of assessed value. What are the annual taxes?
Explanation
Assessed value = $350,000 x 80% = $280,000. Taxes = ($280,000 / $100) x $1.20 = 2,800 x $1.20 = $3,360.
Q9. A seller nets $270,000 after paying a 6% commission. What was the sale price?
Explanation
Net = Sale Price x (1 - 0.06) → $270,000 = SP x 0.94 → SP = $270,000 / 0.94 = $287,234 (approximately).
Q10. A buyer's loan balance is $180,000 at 7% annual interest. What is the first month's interest payment?
Explanation
Monthly interest = $180,000 x 7% / 12 = $180,000 x 0.005833 = $1,050.
Q11. A property is purchased for $220,000 and sold 3 years later for $264,000. What is the percentage gain?
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