North Carolina Real Estate Broker Exam — All Questions
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A home sells for $340,000. The listing brokerage charges a 6% commission, split equally between the listing and selling firms. How much does the listing firm receive?
- a.$10,200✓
- b.$20,400
- c.$5,100
- d.$13,600
The total commission is 6% of $340,000, which equals $20,400. Splitting that equally between the listing and selling firms gives each firm half, or $10,200. The $20,400 figure is the full commission before the split, and the other options do not match a 50/50 division of the 6% fee.
A rectangular lot measures 150 feet by 200 feet. How many acres is the lot, rounded to the nearest hundredth? (One acre = 43,560 square feet.)
- a.0.55 acres
- b.0.69 acres✓
- c.1.38 acres
- d.0.34 acres
The lot area is 150 x 200 = 30,000 square feet. Dividing 30,000 by 43,560 square feet per acre yields about 0.69 acres. Answers such as 0.34 or 1.38 result from halving or doubling the area incorrectly, and 0.55 does not match the correct division.