The largest whole number that divides evenly into each of the numbers. Governmental Survey System/Rectangular Survey System:Ī system of dividing land in the United States into 24-square mile quadrangles from the north-south line and the east-west line. The drawback is that there is no widely recognized standard for depth, so a property selling for $1,500 per front foot might be half the depth of one selling for $2,400 a front foot, but no one can tell just from the price. Example ½ and 2/4 are equivalent because they are both half.Īn expression that indicates the quotient of two quantities, such as 1/3 A disconnected piece a fragment.Ī method of describing or pricing commercial real estate by the number of feet of road frontage the parcel has. The term refers only to the bottom number in the fraction, not to the rest of the number.įractions which have the same value, even though they may look different.
In the number 125 3/5, 5 is the denominator. For example, in the fraction 3/5, 5 is the denominator. The expression written below the line in a common fraction that indicates the number of parts into which one whole is divided.
In the number 125.67, the period between the 5 and the 6 is called the decimal point. The symbol that creates a decimal is called the decimal point. Pertaining to tenths or to the number 10. Real Estate Math Definitions Basic Arithmetic Skills Vocabulary TermĪ measured line through a survey area from which triangulations are madeĪ surveyor's mark made on a stationary object of previously determined position and elevation and used as a reference point in tidal observations and surveys.Ī unit of cubic measure for lumber, equal to one foot square by one inch thick. The more practice and time spent on understanding the math problems and concepts that you may see, the better you will do on the exam and throughout your career. Many students dread the idea of learning math and having to use math in their careers, however, real estate math is not challenging and there are only a few concepts that you need to master. These include the Gross Rent Multiplier (GRM) Formula, the Commission Formula, Simple Interest Formula, Loan to Value Ratio (LTV), and more.
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Examples of math concepts that real estate agents must know are as follows. While you may not need to use math every day as a real estate agent, you should be prepared when problems arise that require a thorough understanding of real estate math concepts. While the number of math questions on the exam varies from state-to-state, the total number of math-related questions is somewhere between 10-15%.
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No matter what state you are wanting to get a real estate license in, you can expect to see math questions on the exam. How Much Math Is on the Real Estate Exam? Becoming an expert at math and being able to do real estate math problems can help you stand out in your market and become a better real estate agent and can make it much easier to pass the real estate exam. Real estate math is an essential part of the real estate exam and an important concept to understand to have a successful real estate career.
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