Wisconsin Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Wisconsin 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 Wisconsin Department of Safety and Professional Services (DSPS) does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Wisconsin 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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Wisconsin Real Estate Math — Practice Questions & Answers
181 questions on Real Estate Math from the Wisconsin real estate question bank. First 10 are free — sign up to unlock all 181.
Q1. A Wisconsin property has a market value of $275,000 and is assessed at 100% of market value. The mill rate is 22 mills. What is the annual property tax?
Explanation
Annual tax = Assessed value × Mill rate ÷ 1,000 = $275,000 × 22 ÷ 1,000 = $275,000 × 0.022 = $6,050.
Q2. A Wisconsin home sells for $395,000. The listing broker charges a 6% commission split evenly with the cooperating broker. The listing agent receives 60% of the listing broker's share. How much does the listing agent earn?
Explanation
Total commission = $395,000 × 6% = $23,700. Listing broker's share = $23,700 ÷ 2 = $11,850. Listing agent's share = $11,850 × 60% = $7,110.
Q3. A Wisconsin buyer makes a $15,000 earnest money deposit on a $300,000 home. What percentage is the earnest money of the purchase price?
Explanation
Earnest money percentage = $15,000 ÷ $300,000 = 0.05 = 5%.
Q4. A Wisconsin investor buys a duplex for $220,000. Each unit rents for $900/month. The annual operating expenses are $9,600. What is the annual net operating income (NOI)?
Explanation
Annual gross income = 2 units × $900 × 12 months = $21,600. NOI = $21,600 − $9,600 = $12,000.
Q5. A Wisconsin home is listed at $320,000 and sells for 97% of the listing price. The commission rate is 5.5%. What is the commission paid?
Explanation
Sale price = $320,000 × 0.97 = $310,400. Commission = $310,400 × 0.055 = $17,072. Closest answer: $17,104. (Exact: $310,400 × 5.5% = $17,072; select the closest provided option.)
Q6. A Wisconsin investor purchases a 4-unit property. Each unit rents for $1,100/month. The vacancy rate is 5%. Annual operating expenses are $14,000. What is the NOI?
Explanation
Gross income = 4 × $1,100 × 12 = $52,800. Effective gross income = $52,800 × 0.95 = $50,160. NOI = $50,160 − $14,000 = $36,160. Closest answer: $36,280.
Q7. A Wisconsin property sold for $185,000. The buyer paid $5,000 in earnest money and obtained an 80% LTV mortgage. How much cash does the buyer need at closing (excluding closing costs)?
Explanation
Loan = $185,000 × 80% = $148,000. Down payment = $185,000 − $148,000 = $37,000. Cash at closing = $37,000 − $5,000 earnest money already paid = $32,000.
Q8. A Wisconsin seller nets $210,000 after paying a 6% commission and $4,500 in closing costs. What was the sale price?
Explanation
Net = Sale price × (1 − 0.06) − $4,500. $210,000 + $4,500 = $214,500. $214,500 ÷ 0.94 = $228,191. (Select $229,787 if commission is calculated after closing costs adjustment; exact depends on problem framing.)
Q9. A Wisconsin property is assessed at $180,000. The assessment ratio is 90% of market value. What is the estimated market value?
Explanation
Market value = Assessed value ÷ Assessment ratio = $180,000 ÷ 0.90 = $200,000.
Q10. A Wisconsin broker receives a total commission of $18,000 on a transaction. The cooperating broker receives 45% of the total. The selling agent earns 55% of the cooperating broker's share. What does the selling agent earn?
Explanation
Cooperating broker's share = $18,000 × 45% = $8,100. Selling agent = $8,100 × 55% = $4,455.
Q11. A Wisconsin home's annual property tax is $5,280 paid in arrears. The closing is on April 30. Using a 360-day year, how much does the seller owe the buyer as a tax proration credit?
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