A clean printable reference for commission, proration, cap rate, GRM, property tax per $100, area conversions, LTV, and the Texas figures candidates mix up most often.
Use this sheet as a memory check, not as your full study plan. Print it, cover the examples, write each formula from memory, then drill mixed Texas math questions until you can spot the setup before you calculate.
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Texas sales agent exam prepPrintable math reference
Commission Amount
Sale Price × Commission Rate = Commission
$250,000 × 6% = $15,000
Agent Split
Total Commission × Agent Split % = Agent Share
$15,000 × 60% = $9,000
Finding Sale Price from Commission
Commission ÷ Commission Rate = Sale Price
$15,000 ÷ 6% = $250,000
Daily Rate
Annual Amount ÷ (360 or 365) = Daily Rate
$3,650 ÷ 365 = $10/day
Party's Share
Daily Rate × Days Owned = Proration
$10/day × 180 days = $1,800
Capitalization Rate
NOI ÷ Sale Price = Cap Rate
$50,000 ÷ $500,000 = 10%
Property Value (Income Approach)
NOI ÷ Cap Rate = Property Value
$50,000 ÷ 10% = $500,000
Gross Rent Multiplier
Sale Price ÷ Gross Rent = GRM
$500,000 ÷ $60,000 = 8.33
Taxable Value
Appraised Value − Exemptions = Taxable Value
$310,000 − $140,000 homestead = $170,000
Annual Property Tax
Taxable Value ÷ 100 × Tax Rate per $100 = Tax
$170,000 ÷ 100 × $2.20 = $3,740
Square Footage
Length × Width = Area (sq ft)
50 ft × 100 ft = 5,000 sq ft
Acres Conversion
Square Feet ÷ 43,560 = Acres
87,120 sq ft ÷ 43,560 = 2 acres
Price per Square Foot
Price ÷ Square Footage = Price per Sq Ft
$500,000 ÷ 2,500 sq ft = $200/sq ft
Simple Interest
Principal × Rate × Time = Interest
$200,000 × 6% × 1 yr = $12,000/yr
Discount Points
Loan Amount × Points (as %) = Point Cost
$200,000 × 2 points (2%) = $4,000
LTV Ratio
Loan Amount ÷ Property Value = LTV
$180,000 ÷ $200,000 = 90% LTV
Down Payment
Property Value − Loan Amount = Down Payment
$200,000 − $180,000 = $20,000
Seller Net
Sale Price − Payoff − Selling Costs = Seller Net
$425,000 − $298,000 − $31,375 = $95,625
Required Sale Price
Target Net + Payoff + Costs = Required Price Base
$85,000 + $298,000 + costs = required price before percentage costs
Front-End Ratio
Housing Payment ÷ Gross Monthly Income = Front-End Ratio
$2,576 ÷ $9,200 = 28%
Back-End Ratio
(Housing Payment + Monthly Debt) ÷ Gross Monthly Income = Back-End Ratio
($2,576 + $625) ÷ $9,200 = 34.79%
Equity
Current Value − Loan Balance = Equity
$420,000 − $286,000 = $134,000
Appreciation
Current Value − Purchase Price = Appreciation
$420,000 − $350,000 = $70,000
Inferior Comparable
Comparable Sale Price + Adjustment = Adjusted Price
$415,000 + $12,000 = $427,000
Superior Comparable
Comparable Sale Price − Adjustment = Adjusted Price
$415,000 − $8,000 = $407,000
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1. Name the setup. Decide whether the question is commission, proration, tax, area, income math, LTV, or seller net before touching the calculator.
2. Write one line. Put the formula on your scratch board, then plug in numbers. That prevents rate and unit drift.
3. Check the final ask. The exam often gives extra facts. Answer what the last sentence asks for.
4. Drill mixed math. A formula sheet is only useful when you can recognize which formula belongs to the question.
Texas property tax is a rate per $100 of taxable value.
Percent rates must become decimals before multiplying.
Prorations need the right owner days and 360/365 basis before the math.
LTV uses the sale price or appraised value, whichever is lower.
A formula sheet helps only if it becomes recall. Use this three-pass routine before you move into timed math practice.
Cover the examples and write every formula from memory. Circle any formula that needs a peek.
Before calculating, say the category first: commission, proration, property tax, income math, area, LTV, seller net, or appraisal.
Use mixed practice after the sheet. The exam will not label the formula for you, so recognition matters as much as arithmetic.
The cheat sheet is the memory aid. These pages help you turn each formula into exam-ready recognition.
Memorize commission, commission splits, proration, cap rate, property value by income, GRM, taxable value, property tax by rate per $100, area, acres, price per square foot, LTV, and down payment formulas.
No. Use this cheat sheet before the exam to build memory. You should be able to write the formulas from memory and recognize which formula a word problem is asking for.
The most common mistake is choosing the wrong setup. Candidates often apply the property tax rate before subtracting the exemption, use the wrong 360 vs. 365 day count, reverse proration credits, or use gross rent when the problem asks for cap rate.
It is enough for review, not enough for mastery. Pair it with worked examples and timed practice so you can apply the formulas under exam pressure.
Texas-specific figures and exam context should be checked against official sources. This cheat sheet is for exam prep, not tax, lending, legal, or closing advice.