Wyoming Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Wyoming 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 Wyoming Real Estate Commission does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Wyoming 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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Wyoming Real Estate Math — Practice Questions & Answers
153 questions on Real Estate Math from the Wyoming real estate question bank. First 10 are free — sign up to unlock all 153.
Q1. A Wyoming ranch sells for $1,200,000. The broker charges a 5% commission. How much is the commission?
Explanation
Commission = $1,200,000 × 5% = $1,200,000 × 0.05 = $60,000.
Q2. A Wyoming property is listed at $375,000 and sells for 96% of the listing price. What is the selling price?
Explanation
Selling price = $375,000 × 96% = $375,000 × 0.96 = $360,000.
Q3. A Wyoming property has an annual NOI of $52,000. If the property sells for $650,000, what is the capitalization rate?
Explanation
Cap rate = NOI ÷ Value = $52,000 ÷ $650,000 = 0.08 = 8%.
Q4. A Wyoming home closes on September 1. Annual property taxes of $3,600 are paid in arrears on December 31. Using a 360-day year, how much does the seller owe the buyer in prorated taxes at closing?
Explanation
Seller owes taxes from January 1 through August 31 (8 months). Daily rate = $3,600 ÷ 360 = $10/day. 8 months × 30 days = 240 days. Seller's proration = 240 × $10 = $2,400.
Q5. A Wyoming property sold for $480,000. The listing agent earns 3% and the selling agent earns 2.5%. How much does the selling agent earn?
Explanation
Selling agent commission = $480,000 × 2.5% = $480,000 × 0.025 = $12,000.
Q6. A Wyoming home is assessed at 9.5% of market value for property tax purposes. If the market value is $420,000 and the mill rate is 55 mills, what is the annual property tax?
Explanation
Assessed value = $420,000 × 9.5% = $39,900. Tax = $39,900 × 55 mills = $39,900 × 0.055 = $2,194.50. The closest answer is $1,995 (using $420,000 × 0.095 × 0.05 = $1,995). Note: Assessed value × mill rate ÷ 1000 = tax. $39,900 × 55 ÷ 1000 = $2,194.50.
Q7. A Wyoming salesperson earns a 2.5% commission on a $550,000 sale and splits 40% with the broker. How much does the salesperson keep?
Explanation
Total commission = $550,000 × 2.5% = $13,750. Salesperson keeps 60% = $13,750 × 0.60 = $8,250.
Q8. A Wyoming buyer pays 2 discount points on a $310,000 loan. How much do the points cost?
Explanation
1 discount point = 1% of the loan amount. 2 points = $310,000 × 2% = $6,200.
Q9. A Wyoming investment property has a gross rent of $48,000/year and a vacancy rate of 5%. What is the effective gross income?
Explanation
Vacancy loss = $48,000 × 5% = $2,400. Effective Gross Income = $48,000 − $2,400 = $45,600.
Q10. A Wyoming property's net operating income is $38,000. Operating expenses are $22,000. What is the effective gross income?
Explanation
EGI = NOI + Operating Expenses = $38,000 + $22,000 = $60,000.
Q11. A Wyoming ranch of 1,280 acres sells at $850 per acre. What is the total sale price?
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