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CLI Prelicensing > Math > Flashcards

Math Flashcards

1
Q

how many decimal places should you round off to generally

A

2

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2
Q

How many decimal places should you round to with interest rates?

A

3

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3
Q

square area

A

length x width = area

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4
Q

rectangle area

A

length x width = area

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5
Q

1 square yard = ? sq. ft.

A

9

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6
Q

How many sq. ft. in an acre?

A

43560

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7
Q

triangle area

A

BxH/2

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8
Q

Trapezoid area

A

[(A+B)/2] X Height

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9
Q

Volume of a Square or Rectange

A

LxWxH

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10
Q

How many cubic feet in a cubic yard?

A

27

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11
Q

What are rates expressed as?

A

percentages

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12
Q

Real estate whole values

A

sales price, purchase price, value, assessed value, and value, original investmnet, principal amount, annual depreciation

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13
Q

Real Estate Rates

A

rate, tax rate, years of useful life

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14
Q

Real Estate “Parts”

A

replacement cost, commission, interest, loss, depreciation, income, profit, taxes

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15
Q

1 linear foot

A

12 inches

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16
Q

3 linear feet

A

1 yard

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17
Q

9 sq. ft

A

1 sq. yd

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18
Q

144 sq. inches

A

1 sq ft

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19
Q

27 cubic ft

A

1 cubic yard

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20
Q

1 acre

A

43560 sq feet

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21
Q

1 township

A

36 section

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22
Q

36 sections

A

36 sq miles

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23
Q

1 square miles

A

640 acres

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24
Q

1 section

A

1 square mile

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25
Q

1/2 mile squared

A

160 acres

26
Q

1 linear mile

A

5280 ft

27
Q

1 mill

A

1/1000

28
Q

What does net mean?

A

what is left after expenses have been deducted

29
Q

seller’s rate

A

100% - broker’s rate

30
Q

In net to seller problem, how do you find sales price?

A

using seller’s rate

31
Q

what are most real estate loans based on?

A

simple interest

32
Q

simple interest

A

interest is paid based on the unpaid balance

33
Q

term mortgage

A

loan balance never changes; paying interest with each payment

34
Q

net income

A

gross income - expenses - vacancy factor

35
Q

Is debt service an operating expense?

A

no

36
Q

What time frame are capitalization problems in?

A

annual

37
Q

ANOI

A

Annual Net Operating Income

38
Q

in Profit or Loss problems, what is the whole?

A

original price or original acquisition price

39
Q

Average Appreciation Formula

A

Original Price x (1+(appreciation % * t))

40
Q

What is the standard downpayment?

A

20% on a non-insured conventional loan

41
Q

What are discount points based on?

A

loan amount

42
Q

What are origination fees based on?

A

loan amount

43
Q

1 point is what % of a loan?

A

1%

44
Q

WHat is the major purpose of points?

A

To increase the lender’s yield

45
Q

What are discount points?

A

prepaid interest

46
Q

Annual Tax Bill

A

units of tax ($ amount in the tax rate)

47
Q

Units of tax

A

assessed value / per figure

48
Q

assessed value

A

appraised value (assessment rate)

49
Q

What does amortization refer to

A

liquidation

50
Q

liquidation

A

reducing the loan amount wiht each payment

51
Q

In an amortized loan, each payment is made up of what 2 parts?

A
  1. interest

2. principal reduction

52
Q

Steps to amortize loan

A
  1. loan amount x interest rate = annual interest
  2. annual interest / 12 = monthly interest
  3. principal & interest payment - monthly interest = principal reduction
  4. loan amount - principal reduction = new loan amount
  5. start over using new loan balance for next month
53
Q

Annual interest for amortization

A

loan amount x interest rate

54
Q

Monthly interest

A

annual interest / 12

55
Q

Principal Reduction

A

principal & monthly payment - monthly interest

56
Q

New Loan Amount

A

loan amount - principal reduction

57
Q

proration

A

when a number of days of some items (taxes, insurance, rent, etc.) is debited to the buyer or seller and credited to the buyer or seller

58
Q

How many days are in a prorated year?

A

360

59
Q

How many days are in a month in a prorated year?

A

30

60
Q

When are things paid in advance paid for the year?

A

January 1

61
Q

When are things paid in arrears paid for the year?

A

December 30

62
Q

How do you know the front footage of a lot?

A

number written first

CLI Prelicensing (23 decks)

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