Florida Real Estate Practice Exam

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Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

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What is the correct calculation to figure out a commission rate?

List price ÷ total commission
List price × total commission
Sales price ÷ total commission
Total commission ÷ sales price

The correct answer is: Total commission ÷ sales price

In order to calculate a commission rate, you need to divide the total commission earned by the sales price. This is because the commission rate is typically expressed as a percentage of the sales price, so dividing the total commission by the sales price will give you the percentage rate. The other options are incorrect because they either do not involve the sales price (Option A and B) or do not result in a percentage rate (Option C). It's important to remember that commission rates are calculated based on the sales price, not the list price.