Illinois Real Estate Broker Exam — All Questions

A home sells for $250,000 and the total commission is 6%, split equally between the listing and selling brokerages. How much does the listing brokerage receive?

• a.$15,000
• b.$7,500✓
• c.$3,750
• d.$12,500

The total commission is 6% of $250,000 = $15,000. Split equally, the listing brokerage receives half, or $7,500.

A parcel measures 435,600 square feet. How many acres is this? (1 acre = 43,560 sq ft)

• a.5 acres
• b.100 acres
• c.10 acres✓
• d.1 acre

Dividing 435,600 by 43,560 square feet per acre equals 10 acres. Knowing that one acre equals 43,560 square feet is essential for these conversions.