Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam. In this episode you will learn: • How to calculate the necessary sales price to achieve a specific net amount for a seller using the 100% minus commission rate method. • A simple mnemonic to memorize 43,560 square feet in an acre to ensure accuracy on land measurement problems. • The critical rule of using the lower of the appraised value or sales price when calculating Loan-to-Value ratios. • How to identify and exclude non-operating expenses like mortgage interest and depreciation when calculating Net Operating Income. • The process for calculating daily prorations using a 360-day statutory year to allocate closing costs between buyers and sellers. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep