Principles Quiz 15 Rooks

# Principles Quiz 15 Rooks - El Camino Real Estate Principles...

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1 El Camino Real Estate Principles Quiz 15 1. If you sell your home for \$350,000, which represents a 40% profit, what was the amount of your profit? A. \$70,000 C. \$250,000 B. \$100,000 D. none of the above 2. If a \$52,500 loan was made on a property, and this was equivalent to 70% of the appraisal value, what was the amount of the appraisal value? A. \$90,000 C. \$50,000 B. \$80,000 D. \$75,000 3. If a man buys two lots for \$18,000 each, and then creates three lots from the two he purchased and sells them for \$15,000 each; what is his percentage of profit? A. 15% C. 25% B. 20% D. 30% 4. If a note for \$3,740 is sold at a discount for \$2,431, the rate of discount from the face amount is? A. 25% C. 45% B. 35% D. none of the above 5. How much is a 7% commission on a \$120,000 sale? A. \$5,833 C. \$8,400 B. \$7,350 D. \$17,142 6. The process of proportionately dividing expenses or income to a precise date is? A. Depreciation

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Principles Quiz 15 Rooks - El Camino Real Estate Principles...

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