NC Test Prep Unit X - Brokerage Practice in NC (S)

A licensee sells 5/6 of an acre for $28,000, and receives a 6% commission. If she splits with her broker 50-50, what did she receive per square foot?

• $.023 / SF

• $.046 / SF

• $.037 / SF

• $.002 / SF

Lots in the South Hyde subdivision are selling for approximately $.50 / SF. The Grandersons want to build a 2,500 SF home on a 1.5 acre corner lot. The custom builder can build the home for $135 / SF. What will the completed property cost the Grandersons?

• 359170

• 370170

• 32670

• 374070

Ivan owned a 1/4 acre lot. He wanted to construct a 120’ x 80’ tennis court on the lot. What approximate percentage of the lot will be left over, if any, when he has completed the construction?

• 0.12

• 0.88

• 0.03

• 0.15

A developer wants to develop a 16-acre subdivision. He figures that the streets and common area will take up about 30% of this overall area. If the minimum lot size is to be 12,000 SF, how many lots can the developer have on this property?

• 42

• 487

• 40

• 57

A homeowner wants to insulate the new recreation room in her basement. She has been told that 3” of insulation would do the job. The walls are all 9’ high and respectively measure 13’, 13’, 18’, and 18’ in length. How many rolls will she need if each roll measures 3” x 2’ x 50’?

• 6

• 56

• 5

• 9

Maria plans to mulch the flower area around her house. The house measures 40’ x 30’, and she figures she’ll mulch an area 8’ in width to form a big rectangle all around the perimeter. What is the square footage of the resulting mulched area?

• 64 SF

• 2,576 SF

• 1,824 SF

• 1,376 SF

Calculate how many acres are in the Southeastern ¼ of the Western ½ of the Eastern ½ of Section 9.

• 20 acres

• 40 acres

• 60 acres

• 5 acres

Homeowner Savannah owns the Southeastern ¼ of the Southwestern ¼ of the Northwestern ¼ of Section 4. How many acres is that property?

• 4 acres

• 40 acres

• 10 acres

• 8 acres

Yard of Pizza has a percentage lease on its 1,800 SF space in Lincoln Shops. The terms are $1.40 / SF / month rent plus 1.75% of the store’s gross income. If monthly sales averaged $41,500 last year, how much annual rent did Yard of Pizza pay last year?

• 38955

• 43420

• 30240

• 21525

A home appreciated 2 2/3% one year, then 5 1/5% the next year, then 7 1/4% the third year. What was the average appreciation over the 3-year period expressed as a decimal?

• 0.0504

• 0.1524

• 0.0756

• 0.048