Humber/Ontario Real Estate Course 2 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Humber/Ontario Real Estate Course 2 Exam with our comprehensive quiz that covers essential concepts and topics. Enhance your understanding with multiple choice questions designed to test your knowledge and boost your confidence before the exam.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If a property transaction involves a remuneration of $5,430 based on a rate of 3.75%, what is the selling price of the property?

$220,350
$144,800
$448,000
$150,230
$145,320
$190,500

The correct answer is: $144,800

To calculate the selling price of the property, we can use the formula: Remuneration = Selling Price x Rate Given that the remuneration is $5,430 and the rate is 3.75%, we can substitute these values into the formula: $5,430 = Selling Price x 0.0375 To find the selling price, we can rearrange the equation: Selling Price = $5,430 / 0.0375 Selling Price = $144,800 Therefore, the selling price of the property is $144,800, which corresponds to option B.