Practice & ContractsQuestion 109 of 120
A salesperson receives 60% of the 3% commission their brokerage earns on a $400,000 sale. The salesperson's share is:
a.$7,200
b.$4,800
c.$12,000
d.$6,000
Explanation
The brokerage earns 3 percent of $400,000, which is $12,000, and 60 percent of that is $7,200. Commission first goes to the broker, who then pays the salesperson their agreed share. Salespersons are always paid through their employing broker.
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