PSI Oklahoma Real Estate Practice Test

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Prepare for the Oklahoma Real Estate Exam with our quiz. Test your knowledge with flashcards and multiple-choice questions, each providing hints and detailed explanations. Ace your 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!

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If you sell a 2,300 square foot house for $192,000, what is the price per square foot?

$80.00
$83.48
$86.00
$90.00

The correct answer is: $83.48

To determine the price per square foot of the house, you take the total sale price and divide it by the total square footage. In this case, you have a house that is 2,300 square feet sold for $192,000. Using the formula: Price per square foot = Total Price / Total Square Footage Substituting the given values: Price per square foot = $192,000 / 2,300 square feet When you perform this calculation, you find that the price per square foot comes out to approximately $83.48. This method of calculating price per square foot is commonly used in real estate to provide a quick reference for comparing values of different properties. The correct answer reflects an accurate division, demonstrating an understanding of how to evaluate property pricing effectively.