Virginia Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Virginia 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 Virginia Department of Professional and Occupational Regulation (DPOR) does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Virginia 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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Virginia Real Estate Math — Practice Questions & Answers
169 questions on Real Estate Math from the Virginia real estate question bank. First 10 are free — sign up to unlock all 169.
Q1. A Virginia home sells for $425,000. The listing broker receives a 6% commission, split equally between the listing and buyer's brokers. How much does the listing broker receive?
Explanation
Total commission = $425,000 × 6% = $25,500. Split equally: $25,500 ÷ 2 = $12,750 to the listing broker.
Q2. A Virginia property has an annual net operating income (NOI) of $36,000. If the capitalization rate is 8%, what is the property's estimated value?
Explanation
Value = NOI ÷ Cap Rate = $36,000 ÷ 0.08 = $450,000. The income approach formula is Value = Income ÷ Rate.
Q3. A buyer in Virginia purchases a home for $350,000 with a 10% down payment. The lender charges 2 discount points. What is the cost of the discount points?
Explanation
Loan amount = $350,000 × 90% = $315,000. Each discount point = 1% of the loan. 2 points = $315,000 × 2% = $6,300.
Q4. A Virginia rental property generates $2,400 per month in gross rent. The gross rent multiplier (GRM) for comparable properties is 120. What is the estimated value of the property?
Explanation
Annual gross rent = $2,400 × 12 = $28,800. Value = Annual Gross Rent × GRM = $28,800 × 10. Wait — GRM can be monthly-based: Value = Monthly Rent × GRM = $2,400 × 120 = $288,000.
Q5. A Virginia home sells for $550,000. The Grantor's Tax is $0.50 per $500. How much does the seller pay in Grantor's Tax?
Explanation
Grantor's Tax = (Sale Price ÷ $500) × $0.50 = (550,000 ÷ 500) × $0.50 = 1,100 × $0.50 = $550.
Q6. A property in Virginia has an assessed value of $320,000. The local tax rate is $0.95 per $100 of assessed value. What is the annual property tax?
Explanation
Annual Tax = (Assessed Value ÷ $100) × Tax Rate = (320,000 ÷ 100) × $0.95 = 3,200 × $0.95 = $3,040.
Q7. A Virginia investment property has a NOI of $48,000 per year. If an investor requires a 7.5% cap rate, what is the maximum price to pay?
Explanation
Value = NOI ÷ Cap Rate = $48,000 ÷ 0.075 = $640,000.
Q8. A buyer purchases a Virginia home for $400,000 with a 5% down payment. What is the loan amount?
Explanation
Down payment = $400,000 × 5% = $20,000. Loan amount = $400,000 − $20,000 = $380,000.
Q9. A Virginia agent earns a 6% commission on a $475,000 sale. The agent's broker keeps 30% of the office commission share. How much does the agent receive if they split 50/50 with the buyer's broker?
Explanation
Total commission = $475,000 × 6% = $28,500. Listing office share (50%) = $14,250. Agent's share after broker keeps 30%: $14,250 × 70% = $9,975.
Q10. A Virginia seller wants to net $300,000 after paying a 6% broker commission. What must the property sell for?
Explanation
Net = Sale Price × (1 − 0.06). Sale Price = $300,000 ÷ 0.94 = $319,148.94, approximately $319,149.
Q11. A Virginia property was purchased for $250,000 and sold 3 years later for $310,000. What was the percentage increase in value?
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