What is the exam-ready answer?
| Roadmap post | 250 of 500 |
|---|---|
| Official syllabus topic | XI.A.3 Calculations for Transactions: Real property tax and other prorations |
| Official PSI area | Real Estate Calculations |
| Published weight | 7% of the 100-question national portion |
| Source edition | PSI Georgia Candidate Information Bulletin dated July 1, 2026 |
| Content checked through | August 2, 2026 |
The Rule
PSI publishes a weight for the complete official area, not a guaranteed count for this individual calculation. Follow the stated facts, units, time basis, and rounding instruction.
Formula and variables
| Symbol or term | Meaning |
|---|---|
| Year basis | 360 days for the banker-year method or 365 days for a non-leap actual-year method |
| Responsible days | Days allocated to the seller or buyer under the stated closing-day convention |
| Annual amount | The annual tax, rent, interest, or expense being allocated |
Step-by-step method
- Underline the stated 360-day, 365-day, or actual-calendar instruction.
- Determine who receives closing day under the question's convention.
- Count the responsible days using 30-day months for a banker year or actual dates for a calendar year.
- Divide the annual amount by the stated basis and multiply by responsible days.
- Decide debit and credit direction separately from the arithmetic.
Georgia-specific distinction
Worked examples
Example 1: Compare the two year bases
Scenario. Annual tax is $7,300 and 90 days are allocated to the seller. Compare 360-day and 365-day calculations.
- 360-day amount = $7,300 / 360 x 90 = $1,825.
- 365-day amount = $7,300 / 365 x 90 = $1,800.
Answer. The 360-day result is $1,825 and the 365-day result is $1,800.
Reasonableness check. With the same annual amount and day count, the smaller 360 denominator produces the larger daily rate.
Example 2: Banker-year day count
Scenario. Using 30-day months and seller owning through April 15, count seller days from January 1.
- January through March = 3 x 30 = 90 days.
- Add 15 April days.
- Seller period = 105 days.
Answer. Use 105 seller days under the stated banker-year convention.
Reasonableness check. Do not substitute the 31-day calendar months when the question specifies 30-day months.
Common exam traps
- Assuming 360 days when the question says actual days
- Using actual month lengths inside a 30-day-month calculation
- Counting closing day for both parties or neither party
- Getting the dollar amount right but reversing debit and credit direction
Original practice questions with detailed explanations
These original instructional questions map to the July 1, 2026 PSI outline. They are not copied from PSI or any live examination. Write the setup before opening the explanation.
Question 1Annual rent is $3,600. What is the 360-day daily rate?
- A. $9.86
- B. $10.00
- C. $30.00
- D. $300.00
Show answer and explanation →
Answer: B. $10.00
$3,600 / 360 = $10 per day.
Question 2Annual tax is $3,650. What is the 365-day daily rate?
- A. $9.86
- B. $10.00
- C. $10.14
- D. $365.00
Show answer and explanation →
Answer: B. $10.00
$3,650 / 365 = $10 per day.
Question 3What controls the proration method in an exam question?
- A. The largest answer choice
- B. The method and convention stated in the facts
- C. A universal Georgia 360-day rule
- D. The buyer's preference
Show answer and explanation →
Answer: B. The method and convention stated in the facts
Use the basis, date count, and closing-day convention stated. PSI does not publish one default for every problem.
Mastery tracking
Mark this calculation mastered only when every statement is true.
- I identify the year basis before finding a daily rate.
- I count days under the correct month convention.
- I allocate closing day exactly once.
- I separate the amount calculation from debit-credit direction.
- I do not invent a universal Georgia default.
Recommended next lesson
Continue with Calendar-Day Proration Step by Step. Practice actual dates, leap years, and inclusive day counts.
Return to the complete calculation hub, formula sheet, or mixed math drill.