Vermont Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Vermont 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 Vermont Real Estate Commission does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Vermont 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 · Vermont Real Estate Commission exam outline
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Vermont Real Estate Math — Practice Questions & Answers
140 questions on Real Estate Math from the Vermont real estate question bank. First 10 are free — sign up to unlock all 140.
Q1. A Vermont home sells for $375,000. The Vermont Property Transfer Tax for a non-primary-residence buyer is 1.45% of the purchase price. What is the tax?
Explanation
Property Transfer Tax = $375,000 × 0.0145 = $5,437.50, which rounds to $5,438. To solve this, multiply the relevant values: $375,000 at 1.45%.. The correct answer is $5,438.. This is a common calculation on the Vermont real estate exam.
Q2. A Vermont investment property has a gross monthly rent of $2,800. The gross rent multiplier (GRM) for comparable properties is 145. What is the estimated market value?
Explanation
Value = Monthly Rent × GRM = $2,800 × 145 = $406,000. Using the values given ($2,800), apply the appropriate formula.. The correct answer is $406,000.. This is a common calculation on the Vermont real estate exam.
Q3. A seller lists a Vermont property for $420,000 and agrees to pay a 5% commission. The property sells for $408,000. How much is the total commission?
Explanation
Commission is calculated on the actual sale price: $408,000 × 0.05 = $20,400. To solve this, multiply the relevant values: $420,000 and $408,000 at 5%.. The correct answer is $20,400.. This is a common calculation on the Vermont real estate exam.
Q4. A buyer in Vermont takes out a $310,000 mortgage at 6.5% annual interest. What is the interest portion of the very first monthly payment?
Explanation
Monthly interest rate = 6.5% ÷ 12 = 0.5417%. First month's interest = $310,000 × 0.005417 = $1,679.17 ≈ $1,679.
Q5. A Vermont property is assessed at $280,000 with a tax rate of 1.8% of assessed value. What is the annual property tax?
Explanation
Annual property tax = Assessed value × Tax rate = $280,000 × 0.018 = $5,040. To solve this, multiply the relevant values: $280,000 at 1.8%.. The correct answer is $5,040.. This is a common calculation on the Vermont real estate exam.
Q6. A Vermont seller nets $315,000 after paying a 5% commission on the sale. What was the sale price?
Explanation
If the seller nets 95% of the sale price (after 5% commission), then: Sale price × 0.95 = $315,000. Sale price = $315,000 ÷ 0.95 = $331,578.95 ≈ $331,579.
Q7. A Vermont lot measures 200 feet by 300 feet. What is the lot size in acres? (1 acre = 43,560 sq ft)
Explanation
Area = 200 × 300 = 60,000 sq ft. Acres = 60,000 ÷ 43,560 = 1.377 ≈ 1.38 acres. Remember: 1 acre = 43,560 square feet. Multiply or divide as needed to convert between units.. The correct answer is 1.38 acres.. This is a common calculation on the Vermont real estate exam.
Q8. A buyer takes out a $250,000 mortgage with monthly payments of $1,600. The first month's interest is $1,250. How much principal is paid in the first month?
Explanation
Monthly payment = $1,600. Interest portion = $1,250. Principal portion = $1,600 – $1,250 = $350. Using the values given ($250,000, $1,600), apply the appropriate formula.. The correct answer is $350.. This is a common calculation on the Vermont real estate exam.
Q9. A Vermont commercial property has a list price of $1,200,000. An investor's analysis requires a 8% cap rate. If the property's NOI is $88,000, what should the investor offer?
Explanation
Investor's value = NOI ÷ Cap rate = $88,000 ÷ 0.08 = $1,100,000. The investor should offer no more than $1,100,000 to achieve the required 8% cap rate.
Q10. Vermont's Land Gains Tax rate for land sold within 1 year of purchase is 80% of the gain. A buyer purchased land for $100,000 and sold it 8 months later for $150,000. What is the Land Gains Tax?
Explanation
Gain = $150,000 – $100,000 = $50,000. Land Gains Tax = $50,000 × 80% = $40,000. To solve this, multiply the relevant values: $100,000 and $150,000 at 80%.. The correct answer is $40,000.. This is a common calculation on the Vermont real estate exam.
Q11. A property's market value is $450,000 and the assessment ratio is 85%. The mill rate is 18 mills. What is the annual property tax?
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