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Retake Recovery Practice Set Preview

Use the diagnostic categories on your PSI score report to choose the first weak portion, then narrow by official area. A retake set should repair the reason for each miss rather than replay the same mixed mock. Answer this 10-question public preview here, then continue the complete experience in Pass Georgia.

Facts checked against the current PSI Candidate Information Bulletin and GREC sources.

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Mixed recoveryContractsAgencyPractice of Real EstateProperty OwnershipFinancingValuationCalculationsDisclosuresTransfer of TitleLand UseProperty ManagementState Laws and RulesReal Estate Practice in GeorgiaFinance and Closing

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1 / 10Study mode: Real Estate Calculations

In a non-leap year, closing is April 1 and the buyer owns closing day. How many days are allocated to the seller from January 1?

Filled circles are answered. A dot means marked for review. Choose a number to return and change an answer.

34% of the real exam is Georgia law. 52 of 152 questions.

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All 10 questions and explanations

Studying instead of taking a test? Open any question to read its choices, the answer, and the reason each option is right or wrong. The numbering matches the public set above.

For a useful score, finish the test above before opening these answers. These are original practice questions based on published topics and sources.

1. In a non-leap year, closing is April 1 and the buyer owns closing day. How many days are allocated to the seller from January 1?Real Estate Calculations. Open choices and explanation.
  1. A.89
  2. B.90
  3. C.91
  4. D.275

Answer B: 90

Count actual days: January 31, February 28, and March 31 make 90 seller days. April 1 is closing day and the buyer owns it, so it is not added.

Why each choice works or fails

  • A. Wrong. Drops one day of March.
  • B. Correct. 31 + 28 + 31 = 90.
  • C. Wrong. Also gives April 1 to the seller.
  • D. Wrong. 275 is the buyer's days, not the seller's.

Work it through

  1. January 31 + February 28 + March 31
  2. Seller days = 90

Rule to remember: Count actual days and assign closing day exactly once.

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2. Effective gross income is $108,000. Operating expenses are $31,000, mortgage payments are $18,000, and depreciation is $7,000. What is NOI?Real Estate Calculations. Open choices and explanation.
  1. A.$52,000
  2. B.$59,000
  3. C.$70,000
  4. D.$77,000

Answer D: $77,000

Only the $31,000 operating expenses are subtracted. Debt service and depreciation are excluded from NOI.

Why each choice works or fails

  • A. Wrong. Subtracts debt service and depreciation too.
  • B. Wrong. Subtracts mortgage payments, which are not operating expenses.
  • C. Wrong. Subtracts depreciation, a non-cash tax item.
  • D. Correct. $108,000 - $31,000 = $77,000.

Work it through

  1. Exclude $18,000 debt service and $7,000 depreciation
  2. $108,000 - $31,000 = $77,000 NOI

Rule to remember: NOI is effective gross income minus operating expenses before financing and depreciation.

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3. A home sells for $340,000 with a 6% total commission split evenly between two brokerages. The listing brokerage receives:Real Estate Calculations. Open choices and explanation.
  1. A.$2,040
  2. B.$5,100
  3. C.$10,200
  4. D.$20,400

Answer C: $10,200

Multiply price by the total rate first: $340,000 x 0.06 = $20,400. Then apply the split, giving half, $10,200, to the listing brokerage. Stopping at the total or splitting again as if paying an agent are the usual traps.

Why each choice works or fails

  • A. Wrong. $2,040 treats 6% as 0.6%.
  • B. Wrong. $5,100 splits the total a second time.
  • C. Correct. Half of $20,400 is $10,200.
  • D. Wrong. $20,400 is the total commission before the split.

Work it through

  1. $340,000 x 0.06 = $20,400 total
  2. $20,400 / 2 = $10,200 to the listing brokerage

Rule to remember: Total commission first, then split. Read which party the question wants.

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4. A seller wants to net $280,000 after a 5% commission on the sale price and $6,000 of fixed seller costs. What sale price is required, to the cent?Real Estate Calculations. Open choices and explanation.
  1. A.$300,000.00
  2. B.$300,300.00
  3. C.$300,736.84
  4. D.$301,052.63

Answer D: $301,052.63

The fixed costs also come out of the sale price, so add them to the net first: $286,000. The seller keeps 95 percent of the price, so divide: $286,000 / 0.95 = $301,052.63.

Why each choice works or fails

  • A. Wrong. Adds 5% to the net, then adds costs ($294,000 + $6,000).
  • B. Wrong. Multiplies net plus costs by 1.05.
  • C. Wrong. Grosses up only the net, then adds the $6,000 ($294,736.84 + $6,000).
  • D. Correct. $286,000 / 0.95 = $301,052.63.

Work it through

  1. $280,000 + $6,000 = $286,000
  2. Seller keeps 1 - 0.05 = 0.95 of price before fixed costs
  3. $286,000 / 0.95 = $301,052.63

Rule to remember: Required price equals net plus fixed costs divided by one minus the commission rate.

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5. A jurisdiction taxes only the consideration net of an assumed loan that survives the sale. A $520,000 sale with a $195,000 assumed loan is taxed on:Real Estate Calculations. Open choices and explanation.
  1. A.$715,000
  2. B.$520,000
  3. C.$195,000
  4. D.$325,000

Answer D: $325,000

Subtract the surviving encumbrance from the consideration: $520,000 - $195,000 = $325,000. The assumed loan is excluded rather than taxed. Georgia's transfer tax works this way: liens existing before the sale and not removed by it are excluded.

Why each choice works or fails

  • A. Wrong. $715,000 adds the loan to the price.
  • B. Wrong. $520,000 ignores the exclusion.
  • C. Wrong. $195,000 taxes the excluded amount instead.
  • D. Correct. $520,000 less the $195,000 assumed loan.

Work it through

  1. $520,000 - $195,000 = $325,000 taxable consideration

Rule to remember: When an assumed loan is excluded, the transfer tax base is price minus the loan that survives the sale.

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6. A buyer pays 1.5 discount points on a $224,000 loan for a $280,000 property. What do the points cost?Real Estate Calculations. Open choices and explanation.
  1. A.$2,240
  2. B.$3,360
  3. C.$4,200
  4. D.$33,600

Answer B: $3,360

Points are a percentage of the loan amount. 1.5% of $224,000 is $3,360.

Why each choice works or fails

  • A. Wrong. Uses 1 point instead of 1.5.
  • B. Correct. $224,000 x 0.015 = $3,360.
  • C. Wrong. Uses the $280,000 price as the base.
  • D. Wrong. Treats 1.5 points as 15%.

Work it through

  1. 1.5 points = 0.015
  2. $224,000 x 0.015 = $3,360

Rule to remember: One point equals 1% of the loan amount.

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7. A broker earns a $27,000 commission at a 6% rate. What was the sale price?Real Estate Calculations. Open choices and explanation.
  1. A.$1,620
  2. B.$28,620
  3. C.$45,000
  4. D.$450,000

Answer D: $450,000

The commission is the part and 6 percent is the rate, so divide part by rate for the whole: $27,000 / 0.06 = $450,000. Multiplying instead gives a number smaller than the commission, a quick sign of error.

Why each choice works or fails

  • A. Wrong. Multiplies the part by the rate.
  • B. Wrong. Adds 6% to the commission.
  • C. Wrong. Divides by 0.6, misplacing the decimal.
  • D. Correct. $27,000 / 0.06 = $450,000.

Work it through

  1. Sale price = $27,000 / 0.06
  2. Sale price = $450,000

Rule to remember: Whole equals part divided by rate.

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8. A buyer purchases at $400,000 with a qualifying $320,000 long-term note secured by the property. The intangible recording tax is calculated on:Finance and Closing. Open choices and explanation.
  1. A.$400,000
  2. B.$80,000
  3. C.$160,000
  4. D.$320,000

Answer D: $320,000

The intangible recording tax applies to the face amount of the long-term note secured by the property. The transfer tax applies to the sale price. A stem giving you both numbers is testing exactly this.

Why each choice works or fails

  • A. Misconception: the price is the base. The price is the transfer tax base.
  • B. Misconception: taxing the equity. $80,000 is the down payment.
  • C. Misconception: applying the 40% assessment ratio, which belongs to property tax, to the price.
  • D. Correct. The tax follows the face amount of the secured note.

Work it through

  1. Intangible tax follows the loan: $320,000
  2. Transfer tax would follow the price: $400,000

Rule to remember: Intangible tax on the loan, transfer tax on the price.

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9. A seller wants $280,000 net after paying a 6% commission. What must the property sell for, to the nearest dollar?Real Estate Calculations. Open choices and explanation.
  1. A.$263,200
  2. B.$264,151
  3. C.$296,800
  4. D.$297,872

Answer D: $297,872

The commission comes out of the sale price, so the seller keeps 94 percent of it. Divide the desired net by what the seller keeps: $280,000 / 0.94 = $297,872. Adding 6 percent to the net falls short, because 6 percent of the higher price is more.

Why each choice works or fails

  • A. Wrong. $263,200 multiplies the net by 94% instead of dividing.
  • B. Wrong. $264,151 divides by 1.06 instead of 0.94.
  • C. Wrong. $296,800 adds 6% to the net, but the commission is 6% of the higher sale price.
  • D. Correct. $280,000 / 0.94 = $297,872.

Work it through

  1. Seller keeps 100% - 6% = 94%
  2. $280,000 / 0.94 = $297,872

Rule to remember: Net to seller means divide by what the seller keeps, never multiply the net.

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10. The seller owes $1,240 of an unpaid tax bill that the buyer will pay after closing. What entries allocate the seller's share?Real Estate Calculations. Open choices and explanation.
  1. A.Debit buyer, credit seller
  2. B.Debit seller, credit buyer
  3. C.Debit seller only; no buyer entry
  4. D.Credit buyer only; no seller entry

Answer B: Debit seller, credit buyer

The seller owes the allocated amount and the buyer will face the future bill, so debit the seller and credit the buyer.

Why each choice works or fails

  • A. Wrong. Reverses the direction; the seller owes, not the buyer.
  • B. Correct. Seller owes the share; buyer will pay the bill later.
  • C. Wrong. The buyer must be credited because the buyer pays the whole bill later.
  • D. Wrong. The seller must be debited because the share is the seller's cost.

Work it through

  1. Seller owes the amount: seller debit
  2. Buyer will pay later: buyer credit
  3. Balanced adjustment: $1,240 each

Rule to remember: One party's proration debit equals the other party's credit.

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What does this assessment cover?

PSI says a failing score report includes diagnostic strengths and weaknesses by examination type. Translate that evidence into the closest published area, then gather a larger fresh sample before the next attempt.
Question coverage in this assessment
Official content areaPublished weightQuestions hereComplete lesson
Real Estate Calculations7% of the national portion9Study Calculations
Finance and Closing15 of the 52 Georgia questions1Study Finance and Closing

The Georgia-specific distinction

Keep the national and Georgia subtotals separate. If Georgia is weak, split the work again into Laws and Rules, Georgia Practice, and Finance and Closing rather than reading one general state summary.

Worked result example

If the report points to Georgia and review notes show national-instinct errors, build a Georgia-only set, read the Georgia distinction after each item, and follow with a fresh 52-question simulation.

Common exam traps

  • Retaking a full practice exam before repairing anything.
  • Studying only the lowest raw score without considering sample size.
  • Memorizing questions from the failed attempt.
  • Booking again because the average improved while one group stayed weak.

Ready to move on?

  1. Score the set before opening notes.
  2. Explain the winning rule without repeating the answer choice.
  3. Classify every miss as knowledge, distinction, wording, math setup, or timing.
  4. Repair the weakest official area, then answer a fresh set on another day.
  5. Move on only when the result is stable and guesses are being marked as gaps.

Recommended next lesson

Use the complete retake recovery plan. Use the result above to choose the first lesson or drill rather than following a generic order.

Assessment integrity

The questions are original and mapped to the current PSI outline. This preview introduces the assessment; the complete version is in Pass Georgia. PSI says practice exams help candidates become familiar with general question types, but they do not replace education and a good practice score does not guarantee an examination outcome. This page reports evidence, not a pass probability.

About this practice set

Facts checked against the current PSI Candidate Information Bulletin and GREC sources.

Are these actual PSI exam questions?

No. Every item is original, written from the current published outline and primary sources. No question is copied, recalled, reconstructed, or represented as a live PSI item.

Does this score predict whether I will pass?

No. One practice result is evidence about this question sample. Use the area breakdown, review guesses as well as misses, and confirm improvement with fresh questions on another day.

What should I do after the result?

Open the explanation for every miss and guess, restate the rule, use the linked repair lesson, then continue with the next lesson: Use the complete retake recovery plan.

Is the assessment free?

Yes. This 10-question preview has no email gate, account requirement, or card. The complete assessment, saved mastery, spaced review, and adaptive recommendations are in Pass Georgia.