How much of the Florida real estate sales associate exam is math?

Math questions account for roughly 10% of the Florida real estate sales associate exam. Mastering the key formulas and applying them in the correct order is essential to scoring well on this portion.

What taxes apply to a new mortgage in Florida?

A new mortgage in Florida triggers two separate charges: a documentary stamp tax of $0.35 per $100 on the promissory note, and an intangible tax of $0.002 (0.2%) on the mortgage amount. For example, a $280,000 mortgage would result in $980 in doc stamps and $560 in intangible tax.

Does the Florida real estate exam use a 360-day or 365-day year for proration problems?

Florida real estate exam proration problems typically use a 365-day year with actual calendar days unless the question specifically states otherwise. A 30-day-month, 360-day banker's year is only used when the question explicitly calls for it.

How do you calculate cap rate on the Florida real estate exam?

Cap rate is calculated using the formula: Cap Rate = Net Operating Income divided by Value. You can rearrange the formula to solve for value (Value = NOI divided by Cap Rate) or NOI, depending on what the problem is asking.

Florida Real Estate Math Practice Questions (With Step-by-Step Solutions)

Q: What is the documentary stamp tax rate on deeds in Florida?

In most of Florida, the documentary stamp tax on deeds is $0.70 per $100 of consideration, or any fraction thereof. Miami-Dade County is the exception, where the rate is $0.60 per $100, with an additional $0.45 surtax on non-single-family properties.

Master Florida real estate exam math with step-by-step practice problems covering prorations, doc stamps, commissions, cap rate, GRM, and more.

Florida real estate math questions account for roughly 10% of the sales associate exam, and every single one can be solved with the right formula applied in the right order. The candidates who struggle are not bad at math — they are skipping steps. This guide walks through worked examples for every major math category you will encounter, showing each calculation in full so you understand the method, not just the answer. Bookmark the formula sheet to use alongside this post.

Quick Answer

Math makes up about 10% of the Florida real estate sales associate exam — roughly 10 out of 100 questions. The most common categories are documentary stamp taxes, prorations, commissions, LTV, cap rate, and GRM. Every problem can be solved by applying the right formula in the right order.

Documentary Stamp Tax on Deeds

Documentary stamp tax on deeds is charged at $0.70 per $100 of consideration (or any fraction thereof) everywhere in Florida except Miami-Dade County, where the rate is $0.60 per $100 plus a $0.45 surtax on non-single-family properties (totaling $1.05 per $100), while single-family properties in Miami-Dade pay only $0.60 per $100 with no surtax.

Practice Problem

A property sells for $347,500 in Orange County. What is the documentary stamp tax on the deed?

Step 1: Divide the sales price by 100: $347,500 ÷ 100 = 3,475
Step 2: Because there is no fraction left over, use 3,475 units.
Step 3: Multiply by the rate: 3,475 × $0.70 = $2,432.50

If the price were $347,501, you would round up to 3,476 units before multiplying — the tax applies to every fraction of $100.

Documentary Stamp Tax on Mortgages and Intangible Tax

A new mortgage triggers two separate charges: a documentary stamp tax of $0.35 per $100 on the promissory note, and an intangible tax of $0.002 per $1 (0.2%) on the mortgage amount.

Practice Problem

A buyer obtains a new mortgage of $280,000. Calculate both taxes.

Doc stamp on the note: $280,000 ÷ 100 = 2,800 × $0.35 = $980.00
Intangible tax: $280,000 × 0.002 = $560.00
Total: $980 + $560 = $1,540.00

Prorations

Prorations split prepaid or accrued expenses between buyer and seller as of the closing date. Florida exams typically use a 365-day year and actual calendar days (e.g., January = 31, February = 28, etc.) unless the question specifically states otherwise — a 30-day-month/360-day-year banker's year is used only when the question explicitly calls for it. Always confirm with the problem, and follow whatever closing-day convention the question states, as there is no fixed universal default for who owns the closing day.

Practice Problem

Annual property taxes of $3,650 have not yet been paid. Closing is on September 15. The seller owes taxes from January 1 through September 15. How much does the seller owe at closing?

Step 1: Daily rate: $3,650 ÷ 365 = $10.00 per day
Step 2: Count the days the seller owned the property: Jan (31) + Feb (28) + Mar (31) + Apr (30) + May (31) + Jun (30) + Jul (31) + Aug (31) + Sep 1–15 (15) = 258 days
Step 3: Seller's share: 258 × $10.00 = $2,580.00 — this is a debit to seller and a credit to buyer at closing.

Commission Splits

Commission problems often involve multiple splits: the listing brokerage and selling brokerage each get a share, then the sales associate gets a percentage of their broker's share.

Practice Problem

A home sells for $415,000 at a 6% total commission. The commission is split 50/50 between the listing and selling brokerages. The listing sales associate receives 60% of their broker's portion. What does the listing sales associate earn?

Step 1: Total commission: $415,000 × 0.06 = $24,900
Step 2: Listing brokerage share: $24,900 × 0.50 = $12,450
Step 3: Sales associate share: $12,450 × 0.60 = $7,470

Loan-to-Value Ratio (LTV)

LTV expresses the loan amount as a percentage of the property's appraised value or purchase price, whichever is lower.

Practice Problem

A buyer purchases a home for $325,000 with a $260,000 mortgage. What is the LTV?

LTV = Loan Amount ÷ Property Value
$260,000 ÷ $325,000 = 0.80 = 80%

Capitalization Rate (Cap Rate)

Cap rate is used to value income-producing properties. The formula is: Cap Rate = Net Operating Income ÷ Value. You can rearrange to solve for any one of the three variables.

Practice Problem

An apartment building generates a net operating income of $52,000 per year. Similar properties in the area sell at a 6.5% cap rate. What is the estimated value?

Value = NOI ÷ Cap Rate
Value = $52,000 ÷ 0.065 = $800,000

Gross Rent Multiplier (GRM)

GRM is a quick valuation tool based on gross (not net) rental income. Formula: GRM = Sales Price ÷ Gross Annual Rent.

Practice Problem

A fourplex sells for $480,000 and generates $48,000 in gross annual rent. A comparable property has an annual gross rent of $54,000. Using the same GRM, estimate the comparable's value.

Step 1: Calculate GRM from the sold property: $480,000 ÷ $48,000 = 10
Step 2: Apply to comparable: $54,000 × 10 = $540,000

Key Formulas to Memorize

Every problem above follows a formula. If you have not already saved the formula sheet, do that now. It covers all the equations tested on the exam in a printable format. You can also review the full list of 19 exam topics to make sure math fits into your broader study plan, and check the glossary for definitions of terms like NOI, GRM, and LTV.

How to Approach Math Questions on Exam Day

Write out every step. Skipping steps is where errors happen. Even simple problems deserve a written calculation on your scratch paper.
Watch for the fractional unit rule on doc stamps — any fraction of $100 rounds up to the next full unit.
Label your units. Keep track of whether you are working in days, months, dollars, or percentages to avoid mixing up the formula.
Rearrange formulas instead of memorizing new ones. The IRV triangle (Income = Rate × Value) and its variations can solve cap rate, commission, and proration problems with the same logic.

Frequently Asked Questions

How many math questions are on the Florida real estate exam?

About 10 out of 100 questions involve math calculations. These span several topics including documentary stamp taxes, prorations, commissions, loan-to-value, cap rate, and GRM.

Can I use a calculator on the Florida real estate exam?

Yes — Pearson VUE provides an on-screen calculator at the testing workstation. You cannot bring a personal calculator. You will also receive scratch paper and a marker to show your work.

What is the documentary stamp tax rate on deeds in Florida?

$0.70 per $100 of consideration (or any fraction thereof) for all Florida counties except Miami-Dade. In Miami-Dade, single-family deeds are taxed at $0.60 per $100, and non-single-family properties pay $1.05 per $100 ($0.60 base plus $0.45 surtax).

How do you calculate prorations on the Florida real estate exam?

Divide the annual expense by 365 to get the daily rate, then multiply by the number of days the seller owned the property in that year. Florida exams use a 365-day year and actual calendar days unless the problem states otherwise.

What is the cap rate formula used on the Florida real estate exam?

Cap Rate = Net Operating Income ÷ Value. You can rearrange this to solve for any variable: Value = NOI ÷ Cap Rate, or NOI = Value × Cap Rate. The same IRV triangle logic applies to commission and proration problems.

AhaPrep at ahaprep.com includes timed practice questions that mirror the format and difficulty of the actual Florida sales associate exam, including math problems with immediate feedback and explanations. Working through problems repeatedly under exam conditions is the fastest way to build the speed and accuracy you need on test day.