ODPELS REAL ESTATE BROKER REVIEWER

ODILIO PELENIO
CONTENTS
1. LEGAL REQUIREMENT FOR REAL ESTATE SERVICE.
2. FUNDAMENTALS OF PROPERTY OWNERSHIP.
3. CODE OF ETHICS AND RESPONSIBILITIES
4. REAL ESTATE LAWS AND TAXATION.
5. SUBDIVISION DEVELOPMENT.
6. CONDOMINIUM CONCEPTS AND OTHER TYPES OF REAL ESTATE MORTGAGES.
7. LEGAL ASPECTS OF SALE, LEASE AND MORTGAGE.
8. DOCUMENTATION AND REGISTRATION.
9. FORM REAL ESTATE BROKERAGE AND PRACTICE.
10. REAL ESTATE FINANCE.
11. URBAN AND RURAL LAND USE.
12. PLANNING, DEVELOPMENT AND ZONING.
13. ECOLOGY.
14. REAL ESTATE APPRAISSAL, SITE LOCATION AND MAP READING.
15. GENERAL/FUNDAMENTALS OF REAL ESTATE.
16. LEGAL ASPECTS OF SALES, LEASE AND MORTGAGE/ FAMILY CODE/ PROPERTY MANAGEMENT.
17. Real Estate Brokers Mock Board Examination PART-II: Special and Technical Knowledge (1 hr and 20minutes)
18. IV 1 REB Mock Board Exam PART-I: General /Fundamentals (1 hr and 20 minutes).
19. REAL ESTATE BROKERAGE PRACTICE.
20. EXAMINATION ON LEGAL ASPECTS OF SALE, LEASE, MORTGAGE AND FORECLOSURE.
21. REB EXAM.
22. Practice Questions – RESA 9646 & IRR, CODE OF ETHICS & RESPONSIBILITIES (46).
23. REB Mock Exam
24. SET 1 - CURRENT EVENTS – ANSWER KEY (SEE IN THE LAST PAGE)
25. SET 3 LAND MANAGEMENT SYSTEM AND SOME RELATED LAWS – (ANSWER KEY AT THE LAST PAGE).
26. SET 2 LAND MANAGEMENT SYSTEM AND SOME RELATED LAWS – (ANSWER KEY AT THE LAST PAGE)
27. MOCK EXAM FUNDAMENTALS.
28. MOCK EXAM SET Y
29. FUNDAMENTALS FOR BROK.
30. Appraiser’s/Broker’s Exam
31. Mock Exam Set G-1
32. Appraiser’s/Broker’s Exam: Reviewer (Financing)
33. Mock Exam Set G-3
34. CODES OF ETHICS.
35. LOCAL TAXATION
36. BASIC PRINCIPLES OF ECOLOGY.
37. REAL ESTATE BROKERAGE AND PRACTICE.
38. CODE OF ETHICS AND RESPONSIBILITIES.
PRINCIPLES AND PRACTICE OF REAL ESTATE.
39. THEORIES AND PRINCIPLES IN APPRAISAL AND BROKERAGE.
40. STANDARDS AND ETHICS.
41. HUMAN AND PHYSICAL GEOGRAPHY.
42. REAL ESTATE FINANCING.
43. LAND MANAGEMENT SYSTEM AND REAL PROPERTY LAWS.

A. LEGAL REQUIREMENT FOR REAL ESTATE SERVICE:

1. DTI MINISTRY CODE NO. 39, SERIES OF 1985 –real estate service practice in the phils prior to RESA
2. A GRADUATE OF RELEVANT BACHELOR’S DEGREE –required to be a real estate broker
3. JULY 30, 2009 –resa effectivity
4. REAL ESTATE ASSESSOR –govt official for taxation
5. REAL ESTATE DEVELOPER –corporation that engages with memorial parks
6. VALUER –another term for real estate appraiser
7. REAL ESTATE –land and all attached to it
8. ACCREDITED REAL ESTATE SALESPERSON –previously titled as salesman
9. ASSISTANT ASSESSOR –includes the chief assessor in a municipality
10. ACCREDITED AND INTEGRATED PROFESSIONAL ORGANIZATION (AIPO)
11. GRANDFATHER CLAUSE –licensed with DTI can still practice because of this
12. 4 MEMBERS –aside from 1 chairman, PRBRES has
13. ACCREDITED AND INTEGRATED PROFESSIONAL ORGANIZATION –responsible for the nominations of PRBRES
14. ACCREDITED REAL ESTATE SALESPERSON –salesperson requirement
15. INTERIM ACCREDITED PROFESSIONAL ORGANIZATION –first national organization before AIPO
16. REGISTER WITH HLURB –aside from PRC, REB should also
17. PROFESSIONAL REGULATION COMMISSION –PRBRES should be supervised by
18. TERMINATION OF HIS EMPLOYMENT BY THE REAL ESTATE BROKER –registration with HLURB will be terminated upon
19. UNETHICAL PRATICE –ground for PRBRES suspension
20. UNEXPIRED PORTION OF THE TERM OF THE MEMBER WHO VACATED –board vacancy term upon vacation of a position
21. AT LEAST 2 YEARS OF COLLEGE –requirement for salesperson
22. AT LEAST HIGH SCHOOL GRADUATE –DTI salesman requirement
23. P 1000 –salesperson bond
24. COMMISSION ON HIGHER EDUCATION –works with PRBRES for the curriculum etc
25. PROFESSIONAL REGULATION COMMISSION –after filing with PRBRES, victims of violation call also file in
26. 24 CPE UNITS –required to renew license before RESA effectivity.
27. PRESIDENT OF THE PHILIPPINES –can suspend board members
28. CONVICTION OF A CRIME OF SLIGHT PHYSICAL INJURIES –may not be a ground of the chairperson
29. REAL ESTATE SALESPERSON –no exams needed
30. PRBRES –prepares the exams
31. BS REAL ESTATE MANAGEMENT –degree for real estate
32. MUST BE A RESIDENT OF THE PHILIPPINES –not a requirement to quality for the exam
33. 5 YEARS –needed to a consultant, if appraiser already
34. 120 UNITS –before taking the REB exam
35. 75% -passing rate
36. 10 DAYS –results of the exam should be released in
37. UNTIL REVOKED –validity of the certificate of registration
38. 50% -no grade below
39. PROFESSIONAL IDENTIFICATION CARD –PRC should also give this aside from COR
40. TERESITA MANZALA-Former PRC chair
41. 3 YEARS –renew the ID
42. P 20,000 –appraiser bond
43. P 20,000 –broker bond
44. UNAVAILABILITY OF LOCAL PRACTITIONERS TO ENHANCE THE PRACTICE –foreigners can practice here temporarily if
45. 3 YEARS –renew the ID
46. REAL ESTATE CONSULTANT –no bond
47. THERE IS FOREIGN RECIPROCITY –foreigners can practice here if
48. TAKE AN OATH BEFORE THE BOARD –successful examine must do before practicing.
49. AT LEAST ONE TRANSACTION –means you’re taking part in the practice
50. EMAIL ADDRESS OF PRACTITIONER –should not be included in the roster of registered professional.
51. 20 PRC ACCREDITED AND HLURB REGISTERED REAL ESTATE SALESPERSONS –is to one broker
52. P 200,000 –fine if you engage with real estate transaction w/o license
53. CITY TREASURER OF MANILA –professional should be paid here if you’re office is in Manila
54. WITHIN 15 DAYS FROM THE RECEIPT OF DECISION –after found liable by PRBRES, he can appeal to the PRC.
55. TWO YEARS –a suspended license can be reinstated after
56. A HOUSEOWNER WHO WILL SELL HIS OWN LOT –not engage in the practice of real estate service
57. REAL ESTATE SALESPERSON –not required member of AIPO
58. P 200,000 FINE/ 4 YEARS –unlicensed appraiser penalty
59. 20 ACCREDITED SALESPERSONS –is to 1 broker
60. CERTIFICATE OF REGISTRATION –should be displayed in business
61. NATL CODE OF ETHICS AND RESPONSIBILITIES –promulgated by the board
62. 120 HOURS OF REAL ESTATE SEMINAR –continuing education program
63. DIVISION MANAGER –should be full time
64. THE PARTNER –liable for violation in real estate partnership
65. TEN YEARS PRACTICE –required to be a board member
66. FOUND TO BE PSYCHOLOGICALLY UNFIT –board shall not register COR
67. BE A MEMBER IN GOOD STANDING OF THE AIPO –to renew id, a real estate consultant is required to
68. A LICENSED REAL ESTATE APPRAISER –a requirement to be a city assessor
69. REAL PROPERTY ASSESSING OFFICER (RPAO) EXAMINATIONS –required prior to RESA
70. REAL ESTATE PRIVATE APPRAISER – 20,000 bond
71. P 1000 –salesperson bond
72. DEC 31 OF THE YEAR –HLURB expiration of salesperson
73. AIPO RECEIPT NUMBER –should be indicated PTR and license number
74. AUTOMATIC AND MANDATORY –membership of AIPO
75. ATLEAST 200,000 FINE –violation of resa
76. SECURING ACCREDITATION FROM PRC –what salesperson should do first
77. SERVICE –color blue in logo
78. SURETY BOND –bond of private real estate appraiser
79. ATTY IN FACT WHO DOESN’ T REQUIRE COMPENSATION –exempted from coverage
80. EDUARDO ONG –first chairman of PRBRES
81. RA 8981 (PRC MODERNIZATION ACT) –law that governs PRC
82. PHILIPPINE INSTITUTE OF REAL ESTATE SERVICE PRACTICE –AIPO approved by the PRC last 2011
83. PAPRB –group of various regulatory boards under PRC
84. MORE THAN 20,000 –total number of real estate service practitioners
85. REAL ESTATE ASSESSOR –following is not issued a separate license for the practice of their specified profession
86. 46 –total number of regulatory boards in the country supervised by PRC
87. OFFICE OF THE BOARD EXAMINERS –prior to PRC
88. 2009 –added RESA
89. VOCATIONAL TECHNOLOGY –not a sector under PRC
90. PROFESSIONAL MODERNIZATION ACT OF 2000 –law governing PRC
91. BUSINESS, EDUCATION, MANAGEMENT SECTOR –classification of real estate service.
92. 7 YEARS –term of office of the commissioners of the PRC
93. NAME AND LICENSE ARE ENTERED IN THE PRC REGISTRY BOOK –prc law, definition of practicing professional
94. PRBRES clustered the exam subjects into 3 SUBJECTS
95. PD 957 –law that governs the current practice of real estate service
96. JANUARY 31 –due date of yearly professional tax
97. LAST DAY OF FEB –community tax must be paid by the real estate broker to the local government
98. OCTOBER 2012 –first professional summit held by the PAPRB in cooperation with PRC.
99. Judgment of the PRC becomes final within a period of 15 DAYS FROM RECEIPT OF JUDGMENT
100. 3rd WEEK OF OCTOBER –Philippine Professionals Competitiveness Week, Noynoy

B. FUNDAMENTALS OF PROPERTY OWNERSHIP

101. 1987 PHILIPPINE CONSTITUTION –main law governing the right to own real estate
102. REGALIAN DOCTRINE –all lands of the public domain belong to the state
103. 40% –maximum foreign ownership
104. FAMILY CODE OF THE PHILIPPINES –law that governs relations of a couple who wants to get married
105. AGRICULTURAL –lands that can be alienated
106. ½ SHARE –illegitimate child’s share on the legitime
107. EMINENT DOMAIN –power of the state to take private property for public use
108. ABSOLUTE COMMUNITY OF PROPERTY –property relations when there is no prenup
109. POLICE POWER –power of the state to take away the land if used for illegal purpose
110. RIGHT TO DISPOSE –one of the most important right of a person who owns an agricultural land
111. 12 HECTARES –homestead land under 1987 constitution
112. CONTRACTUAL –limitation on the right of ownership aside from legal
113. SEPARATION OF PROPERTY –property relation with prenup stating that there’s a complete separation of property
114. ALLUVIUM –name for the gradual deposited soil by a flowing river
115. NO RENOUNCEMENT OF CITIZENSHIP –pinoys can still buy property even after marrying a foreigner
116. STEWARD CONCEPT OF OWNERSHIP –owner should utilize the land properly for the general welfare
117. HAS THE BUNDLE OF RIGHTS –owner in fee simple
118. CONDOMINIUM CERTIFICATE OF TITLE –best evidence of condo unit ownership
119. EXPROPRIATION –proceeding to take private property for public use
120. LEASE THE LAND –if foreigners want to build a house
121. HEREDITARY SUCCESSION –filipinos that became foreign citizen can still own a house through this
122. PRENUP –should be executed for complete separation of property
123. USUFRUCT –right of fruits of property
124. AUGUST 3, 1988 –law that governs property relations between married people under New Civil code
125. 18 YEARS OLD BOTH –legal age to get married under the new family code
126. DEED OF RESTRICTIONS –voluntary limitation in one’s right of ownership
127. PRIVATE GRANT –when 2 neighbors goes into a sale
128. VOID AFFIDAVIT –signed by foreigner who’s wife bought a property
129. FORMER NAT’L BORN PINOY –can buy properties
130. COMMUNITY PROPERTY –even though a property is donated before the marriage
131. LEGAL HEIR –a foreigner can own a land via hereditary succession
132. PARAPHERNAL PROPERTY –property of wife which was inherited during marriage
133. JUS SOLI –citizenship is based on location of birth
134. FILE A PETITION IN BUREAU OF IMMIGRATION –to be a dual citizen this must be done by natural born pinoy
135. CO-OWNERSHIP –property relations if not married
136. 1 HECTARE –natl born pinoy can own a property in rural area
137. SHE GETS THE CONSENT OF THE HUSBAND –separated from husband but wants to sell property. Property inherited prior to marriage
138. 5000 SQM –maximum area that can be purchased through foreigh investments act
139. INVOLUNTARY –if property loaned was sold in a auction
140. CAPITAL PROPERTY –sole property of the husband who is now married
141. BUYING AND SELLING –not included trade in foreigh investors act
142. ESCHEAT –govt may own a property of the deceased
143. 1000 HECTARES –corn business can lease a land from the government
144. THEY HAVE A JUDICIAL SEPARATION OF PROPERTY –wife and husband can sell to each other
145. 5 YEARS –period of time to question a husband who sold a conjugal property
146. TORRENS TITLE –imprescriptible and indefeasible
147. FOREIGN INVESTORS LEASE ACT -50 years lease renewable for another 25
148. ACT OF LEGISLATURE –citizenship aside from naturalization
149. LEGAL GUARDIAN CANNOT ACQUIRE THE LAND THEY ARE ADMINISTERING
150. ILLEGITIMATE –born without marriage
151. CORPORATION CAN LEASE PUBLIC DOMAINS FOR 25, RENEWABLE 25 YEARS
152. RIGHT OF WAY EASEMENT –right given the owner of a property behind yours
153. ACCRETION –gradual deposit of land by river
154. 60% -min pinoy ownership in a corporation
155. RELATIVE COMMUNITY OF PROPERTY –property relations if married in 1975 but no prenup
156. EXCLUSIVE MONEY OF THE WIFE –husband has no consent with transfer of property. Before the family code
157. 25 YEARS –foreign investors lease act renewable up to
158. 10 YEARS –acquire possession if in good faith
159. JUDICIAL ORDER –can separate properties if there’s no marriage settlement
160. LEASE CONTRACT –temporary use of land
161. RECLAMATION –filling up submerged land
162. POP. DENSITY OF 1000 PERSON/SQM –urban area
163. AFFIDAVIT UNDER BP 185 –first thing to do to acquire land by a natural born filipino
164. TAKING OATH OF ALLEGIANCE –to become dual citizen
165. 30 YEARS –acquire possession if in bad faith
166. JUDICIAL SEPARATION OF PROPERTY –if no marriage settlement, this must be issued
167. PARAPHERNAL PROPERTY –piece of land through inheritance, no marriage settlement
168. JUS SANGUINIS –citizenship by citizenship of parents
169. PATRIMONIAL PROPERTY –escheated by government
170. A DUAL CITIZEN –may own a land in the phils
171. SPECIAL RESIDENT RETIREE’S VISA –a visa given to foreigner to reside in the phils under Philippine Retirement Authority
172. PATRIMONIAL PROPERTY –not intended for public use
173. 60% -minimum amount of Filipino ownership of a real estate corporation
174. 750 sqm –a pinoy may apply for free patent under RA 10023, this is for first and second class municipalities
175. A child born out of wedlock from minor parents, but who eventually got married, will now be classified as LEGITIMATE
176. A sale of parcel of land, bought by a foreigner who was not allowed to own land, sold eventually to a Filipino citizen is VALID.
177. For a pinoy who Is a citizen of Australia, to be able to acquire land under BP185, the person should be born of atleast one Filipino parent
178. LEGITIME –reserved for compulsory heirs
179. FOREIGN INVESTOR ACT OF 1991 –former natural born pinoy can acquire land in a rural area not to exceed 3 HECTARES
180. If marriage settlement is void, there’s an ABSOLUTE COMMUNITY OF PROPERTY
181. SALE BY CITY TREASURER DUE TO DELINQUENT TAXES is not considered a public grant
182. Illegitimate minor child may use the surname of the father who is married to another provided THE FATHER EXECUTES AN AFFIDAVIT OF
ACKNOWLEDGEMENT
183. INVOLUNTARY GRANT –land acquired through public auction
184. INTESTATE SUCCESSION –when a person inherits real estate from the deceased who died with a will but which was declared void, would be
an inheritance through
185. A Filipina can sell to her husband if there’s a JUDICIAL SEPARATION OF PROPERTY
186. IMMOVABLE AND MOVABLE –classification of property under civil code
187. 1987 CONSTITUTION –granting foreigners citizenship
188. CO OWNERSHIP –if two people, both single, lived together as husband and wife
189. The taking private property must be with payment of just compensation and for the purpose of PUBLIC USE
190. COMMUNITY PROPERTY –property inherited before marriage and married without settlement (girl)
191. Children can inherit upon DEATH OF THE FATHER/MOTHER
192. LEGAL HEIR –the only way for a foreigner to inherit property
193. SALE OF CONDO UNIT TO A FOREIGNER –NOT an involuntary grant
194. Marriage settlement should be executed BEFORE MARRIAGE
195. RENUNCIATION OF FOREIGN CITIZENSHIP –not a requirement of becoming dual citizen
196. RIGHT OF WAY AGREEMENT –considered a voluntary limitation on one’s ownership to land
197. 500 HECTARES –allowable leasable alienable land of the government
198. AVULSION –current river segragates from one estate on its bank portion of land and transfer to another estate
199. RIGHT TO RECEIVE RENT –right of owner of a parcel of land to receive civil fruits means the following
200. MUST BE TITLED LAND –not a requisite for the exercise of eminent domain

C. CODE OF ETHICS AND RESPONSIBILITIES

201. PRBRES –adopts the code of ethics and responsibilities

202. REAL ESTATE DEALERS –not covered by code of ethics
203. AIPO –prescribe and issue of code of ethics
204. NATL CODE OF ETHICS FOR REALTY SERVICE PRATICE –name of the code during DTI
205. BUSINESS –realty service is not a
206. REAL ESTATE BROKERAGE PARTNERSHIP –not covered by the code
207. THE DEVELOPER –relationship of broker to this is not covered by the code
208. ADEQUATE KNOWLEDGE, COMPETENCE AND EXPERTISE IN REAL ESTATE DEVELOPMENT AND MANAGEMENT SHALL BE
MAINTAINED –reason of CPE attendance
209. GOLDEN RULE –suggested by the code
210. AUTHORITY TO PAY SURETY BOND –not required for a practitioner
211. POSTAL ID –not required to secure
212. SPLIT COMM WITH AN UNLICENSED BROKER -unethical
213. TO UNDERVALUE THE PRICE -unethical
214. GOVERNMENT –in undervaluation, broker is unethical to the govt
215. DEED OF ABSOLUTE SALE –license is not reqd to be written here
216. CERTIFICATE OF REGISTRATION –display in business
217. NO MAN IS AN ISLAND –practitioner should be imbued with social conscience
218. DISCRIMINATION -unethical
219. CONCEAL RELEVANT INFO -unethical
220. PIGGERY –unethical to construct in residential area
221. THE TRUE BASIS OF CAPITAL GAINS TAX –tell the owner
222. PLACED IN SEPARATE BANK ACCOUNT –money from client to broker should be placed
223. NAME AND LICENSE NUMBER OF THE BROKER –salesperson requirement
224. IN WRITING –agreements should be (its ok if not notarized)
225. LOYALTY TO THE CLIENT –pledge of a REP
226. PROPERTY TO APPRECIATE VALUE IN A YEAR -unethical
227. THE OWNER AND SELLER KNOWS AND BOTH AGREED –to accept dual commissions
228. BE AUTHORIZED BY THE OWNER –to put up a sign
229. NO LONGER PUT HIS OR HER SIGN FOR SALE –if there’s a sign already by another broker
230. 5,500,000 –owner’s price. Should be sold regardless of the value
231. HAVE THE SELLER AND BUYER CONCLUDE A FAIR DEAL –broker’s responsibility
232. TO TESTIFY IN TRUTHFUL MANNER –responsibility in a civil case
233. WITH ASSISTANCE FROM FAMILIAR WITH THE APPRAISAL OF SUCH –appraiser’s guide
234. THE OWNER OFFER TO LIST THE SAME TO THE NEW BROKER –ethical if the property is listed to another broker
235. COME TO THE ATTENTION OF BROKER X FROM A DIFFERENT SOURCE –ethical to do if the listing is under broker Y
236. THE LISTING BROKER HAS CONSENTED –if the property is listed exclusively
237. HIS OPINION SHOULD BE DONE WITH COURTESY AND PROFESSIONAL RESPECT –ethical thing to do if property is listed under another
broker
238. SHARE HIS EXPERIENCE ON THE TRANSACTION –responsibility of experienced broker
239. DISCUSS AND CLEAR THE COMMISSION ARRANGEMENT BEFOREHAND -ethical
240. EXHAUST THE REMEDIES WITHIN ORGANIZATION –before going to court
241. EXPULSION FROM THE ORGANIZATION –AIPO can do this to a broker if found guilty of a violation
242. THE BROKER CAN USE THE SERVICES OF THE SALESMAN OF ANOTHER BROKER PROVIDED HE PAYS THE SALESPERSON A
COMMISSION -unethical
243. THERE IS NO SIGN PLACED ON THE PROPERTY –a broker can only post a sign on the property if
244. THE LATEST OFFER SHOULD BE PRESENTED TO THE OWNER –ethical thing to do even when there’s a first offer already
245. FIELD OF SPECIALIZATION AS A REAL ESTATE BROKER –should not be indicated in ads
246. TO TELL THE BUYER THERE ARE MANY INTERESTED ALTHOUGH THERE ARE ONLY A FEW INTERESTED BUYERS -unethical
247. ELECTIONEERING DURING THE ANNUAL ELECTIONS –unethical if part of an organization
248. HE WILL ALSO SELL THE PROPERTY AFTER APPRAISING IT -unethical
249. WILLINGLY SHARE EXPERIENCE WITH NEW BROKERS -ethical
250. ENGAGE THE SERVICES OF THE SALESPERSON OF ANOTHER BROKER WITHOUT INFORMING THE BROKER CONCERNED –
unethical
D. REAL ESTATE LAWS AND TAXATION

251. 3.0% -creditable withholding tax rate

252. LOCAL GOVT CODE OF 1991 –taxation of real property is governed by
253. SELLING PRICE –basis of capital gains tax
254. CAPITAL GAINS TAX –sale of capital asset amount is 2,300,000; should be paid where the property is located; penalty surcharge is 25% of 6%
from the contract price
255. FAIR MARKET VALUE AND TAX DEC –basis of the improvement tax on house and lot
256. ORDINARY ASSET –foreclosed properties
257. FINAL TAX –tax paid to BIR on a sale of a condo unit used as residence by the owner
258. 25% -penalty surcharge; there’s also a penalty if you fail to build a principal house
259. BID PRICE –basis of the capital gains tax, if the property was not redeemed
260. CITY ASSESOR’S OFFICE –where to get value of the improvement; where to get latest certification
261. CERTIFICATE AUTHORIZING REGISTRATION –BIR will issue this after full payment of capital gains tax
262. 5TH OF THE FOLLOWING MONTH –capital gains tax should be paid
263. PREPAID INCOME TAX –creditable withholding tax of the lot of a developer
264. REGISTRATION WITH HLURB –habitually engaged in real estate
265. 160,000 –ceiling for the lot value in socialized housing
266. 30 DAYS FROM THE NOTARIZATION OF THE SALE –one must inform BIR to exempted from taxes from principal residence sale; title must
also be registered under a name of a natural person; exemption should be PUT IN ESCROW; can only be availed every 10 years
267. 5% WITHOLDING TAX
268. P 15.00 – doc stamps of foreclosed property
269. 30 DAYS FROM EXPIRATION OF REDEMPTION PERIOD – winning bidder must pay capital gains tax earnings
270. CREDITABLE WITHHOLDING TAX –initially paid after a foreclosure
271. P 1919500 –exempted from VAT
272. 3% PERCENTAGE TAX – broker is subject to this tax
273. P 12800 –rent exemption in VAT
274. IF TOTAL SALES EXCEEDED 1919500 YOULL PAY VAT
275. 18 CALENDAR MONTHS –should build a new house to be exempted from tax
276. P 3199200 –exempted from VAT in condo
277. ACTUAL USE OF THE PERSON IN POSSESSION –should be classified for the assessment purposes
278. CURRENT AND FAIR MARKET VALUE –basis of assessor in valuing the property of the land owner
279. 1% OF THE ASSESSED VALUE –basis real property tax in province; SEF fund rate
280. ACTUAL USE –principal or predominant use
281. NOT EXCEEDING 5% OF THE ASSESSED VALUE –basis on the idle land tax
282. REAL PROPERTY TAX –assessed value x tax rate
283. 2%/MONTH –penalty on real property tax
284. APPROVED LOCAL TAX ORDINANCE –for the local govt to impose and implement local tax
285. NOT EXCEED 40% -assessment level for agricultural lands.
286. FORM 1602 – E, FOR CREDENTIAL WITHOLDING TAX
287. FORM 1606 – WITHOLDING TAX REMITTANCE RETURN.
288. FORM 1706 – FOR CAPITAL GAIN TAX.
289. FORM 1800 – DONOR TAX RETURN.
290. FORM 1801 – ESTATE TAX RETURN
291. FORM 1903 – FOR CORPORATION
292. FORM 1904 – INDIVIDUAL
293. FORM 2000 – FOR DOCUMENTARY STAMP TAX.
294. FORM 2550M – MONTHLY VALUE ADDED-TAX RETURN.
295. FORM 2550Q – QUARTERLTY VALUE-ADDED TAX RETURN.
296. ½ OF THE LAND –if the farm is uncultivated, it’ll be subjected to idle tax
297. FAIR MARKET VALUE OF THE IMPROVEMENT –assessment level of the improvement of a property
298. 20% DISCOUNT –early payment of tax in Baguio
299. 4 EQUAL QUARTERLY PAYMENTS –real estate tax could be like this without penalty
300. ON 1st OF JANUARY –local govt code accrues
301. LAND WITH UNFAVORABLE PHYSICAL FACTORS –no idle land tax
302. SHALL NOT EXCEED 60% OF THE ACTUAL COST- special levy for land benefitting public works and improvements
303. REGISTRAR OF DEEDS OF THE CITY – LBAA head
304. 3 YEARS – max total liability of SEF late payment
305. 60 DAYS FROM THE RECEIPT OF ASSESSMENT –should complain if someone doesn’t agree with the assessment
306. 30 DAYS FROM RECEIPT OF DECISION – if the decision is unfavorable, you can appeal to CBAA
307. 60 DAYS FROM DATE OF TRANSFER – notify the assessor after ownership transfer
308. PAY THE REAL ESTATE TAX – first thing to do if under protest
309. PRESIDENT OF THE PHILS – can condone real estate taxes
310. UNPAID DELINQUENT REAL ESTATE TAXES –local govt. should file a notice of delinquency
311. ASSESSED VALUE – fair market value x tax rate
312. JAN 1 OF NEXT YEAR – all reassessment done after jan 1 should take effect
313. OWNER MUST FILE A SWORN DECALARTION OF PROPERTY VALUE – EVERY 3 YEARS
314. NO ACTION FOR THE COLLECTION OF THE REAL ESTATE TAX SHALL BE INSTITUTED – AFTER 5 YEARS
315. LOCAL SCHOOL BOARDS – SEF beneficiary
316. TAX DEC – assessment level may be found
317. 2% OF THE ASSESSED VALUE – new tax rate in Cebu
318. CITY ASSESSOR – not a member of LBAA
319. 10 YEARS – assessment if first time to declare
320. 1 YEAR RIGHT OF REDEMPTION – for foreclosure of delinquent tax payers
321. ½ to 1% OF ASSESSED VALUE – socialized housing tax in QC
322. NOT MORE THAN 100,000 – socialized housing is taxable in QC .
323. 50% – tax rate for commercial
324. HOW MUCH WILL BE THE QUARTERLY TAX PAYMENT FOR A RESIDENTIAL VALUE AT 1800000 IF THE TAX RATE IS 2%?
325. THE OWNER FAILED TO PAY HIS BASIC REAL ESTATE TAX OF 10000 AND 5000 IN SEF. HOW MUCH WILL BE THE TOTAL INTEREST
TO BE PAID FOR THE 5 YEARS DELINQUENCY?
326. NEXT QUARTER AFTER ASSESSMENT –if actual change in use is reported to the assessor office, it shall take effect
327. 3 YEARS –assessor should undertake general revision of real property reassessment
328. RA 9700 –CARPER comprehensive agrarian reform programs with extensions with reforms
329. 5 YEARS –extension in CARPER
330. NOT EXCEEDING 3 HECTARES – CARPER extends the land distribution programs
331. 10 YEARS –lock in period of lands under CARP
332. 5 YEARS –conversion of land if not economically feasible for agriculture
333. BID PRICE OR ZONAL VALUE OR ASSESOR’S VALUE WHICHEVER IS HIGHER –basis of CGT/CWT in case of non-redemption
334. Donation of house and lot to the daughter is not subject of DOCUMENTARY STAMP TAX
335. 0.5% - socialized housing tax for lands over 50k

E. SUBDIVISION DEVELOPMENT

336. SUBD AND CONDOMINIUM BUYERS’ PROTECTIVE DECREE of 1976 –law that protects subv and condo buyers
337. NATIONAL HOUSING AUTHORITY –tasked to provide responsive housing to low income families
338. HLURB –Homeowner’s should register here; can file complaint here if no completion of project; approves the bank loan of developers
339. ATTACHED AGENCY TO HUDCC –highest policy making body for housing
340. CERTIFICATE OF REGISTRATION –corporation w/c intends to develop a subdivision must first get this from HLURB
341. MACEDA LAW –governs the failures in amortization; sale through financing from the seller
342. SUBDIVISION PROJECT –land parcel partitioned for residential purposes into individual lots
343. COMPLEX SUBDIVISION PLAN –includes the streets, open space, passageway
344. SOCIALIZED HOUSING –for underprivileged and homeless citizens
345. DEVELOPER CAN ADVERTISE W/O LICENSE TO SELL AS LONG AS ITS FOR ANNOUNCEMENT PURPOSES ONLY
346. 30% - open space
347. REAL ESTATE DEALER –person directly engaged as principal in selling
348. LOCATIONAL CLEARANCE –written authority to develop a certain area; allowed under the provisions of the zoning ordinance
349. P 400,000 –ceiling for socialized housing
350. FUTURE DEVELOPMENT NOT COVERED BY THE LICENSE TO SELL –should not be placed in advertisements
351. SALE OF A SUBDIVSION LOT BY THE ORIGINAL PURCHASER THEREOF –exempted from registration certificate
352. PERFORMANCE BOND UNDER PD 957 – SHALL BE MADE PAYABLE TO THIS REPUBLIC OF THE PHILS
353. VERIFIED COMPLAINT OF BUYER –license to sell should be suspended
354. CEAST AND DESIST ORDER –to start hearing for the PD 957 violation
355. REALTY INSTALLMENT BUYERS’ PROTECTION ACT –law that governs the nonpayment of the buyer
356. FULL PAYMENT OF THE UNIT – the developer shall deliver the title of the lot
357. CERTIFICATE OF COMPLETION –if the developer intends to donate roads/open space to LGU, they have to provide this
358. NOT LESS THAN 10 HECTARES –phases of subdivision development
359. NOT EXCEED P 10,000 –administrative fines of HLURB for PD 957 violations
360. NOT EXCEED P 20,000 –fines in violation of PD 957
361. NOT MORE THAN 10 YEARS –imprisonment
362. 400 meters –maximum length of a block
363. APPROVAL OF SUBD PLAN –task of LGU now, not HLURB
364. 120 SQM –minimum lot area for single detached open market housing
365. 4 Meters –minimum lot frontage for row houses in PD 957; requires 20 units per block
366. 3.5 Meters –minimum lot frontage for row houses BP 220
367. 150 LITERS/CAPITA/DAY –water connection for subdivisions
368. BLOCK –parcel of land bounded by streets, pathways intended for building
369. CONDO PROJ –entire parcel of real property divided in condominium
370. DWELLING –generally defined as structure designed or used as residence
371. SINGLE DETACHED –dwelling surrounded by yards
372. DUPLEX -2 separate living units
373. CORNER LOT –lot situated in the intersection of 2 or more streets
374. IRREGULAR LOT –not squared or rectangle in shape
375. AFFORDABLE COST –reasonable price based on needs and capability of Program beneficiaries, RA 7279
376. 64 SQM –minimum lot size socialized single detached unit
377. QUASI JUDICIAL –power of HLURB to hear and decide buyer complaints
378. CLUSTER HOUSING -3 or more separate living units grouped closely together
379. SHELL HOUSE –met the min requirements for a housing core with add’l walls, plumbing, floor and electrical
380. COMPLETE HOUSE –shell house with windows, doors and partition walls
381. 3 METERS –minimum width of path walk
382. REFUND PAYMENT Should Include Amortization Interest Excluding Deliqnuency Interests
383. IF BUILDING IS NOT COMPLETED, BUYER CAN GIVES NOTICE TO THE DEVELOPER AND MAY STOP FROM MONTHLY PAYMENT
384. MAGNA CARTA FOR HOMEOWNERS AND HOMEOWNER’S ASSOCIATIONS –law that governs homeowner’s rights; fine for violating -- not
less than 5k but not more than 50k
385. 50% PLUS 1 –simple majority; can sign to remove director
386. HOMEOWNER MEMBER’S DUTY EXCEPT PROPOSE MEASURES TO RAISE FUNDS
387. A BOARD MAY BE DISSOLVE BY SUBMITTING A SIGNED PETITION OF 2/3 OF THE ASSOC MEMBERS
388. 3 YEARS –allowable proxy for members

F. CONDOMINIUM CONCEPTS AND OTHER TYPES OF REAL ESTATE MORTGAGES

389. EQUAL SHARE ON COMMON AREAS –if there’s no provision in master deed
390. PROVISION FOR MANAGEMENT BODY OF THE PROJECT –not part of master deed
391. CONDO CORP –coterminous with the life of the project; holds the title to the land
392. 40% --foreigners’ share on townhouse project
393. CCT –best proof of condo ownership
394. BASED ON THE NUMBER OF BEDROOMS –not a measure of the interest in the common areas
395. CONDO HOUSE RULES AND REGULATIONS –not included in the master deed
396. AT LEAST ONE FOREIGNER OR UNITS WILL BE SOLD TO FOREIGNERS –condo corp is required
397. THE OWNER IS LIABLE TO PAY REAL ESTATE TAXES OF HIS UNIT
398. CONDO CORP MAY BE DISSOLVED BY AFFIRMATIVE VOTES OF ALL THE MEMBERS
399. CONDO UNIT –interior surface of floor, ceiling, walls and exterior doors and windows w/c is for independent use
400. MASTER DEED –share in the common areas may be found; most important document, owner must get the knowledge
401. UNIT OWNER DOES NOT HAVE TO PAY FOR SHARE IN INSURANCE OF THE CONDO
402. MAJORITY VOTE SHOULD BE PER FLOOR UNIT AREA –if there’ll be amendment on the master deed
403. AN OWNER CAN SELL A UNIT UNLESS THERE IS A RIGHT OF FIRST REFUSAL –must first offered to existing unit owners
404. A NOTICE OF UNPAID ASSESSMENT IS REGISTERED WITH REGISTER OF DEEDS –lien
405. COMMON AREAS –weight bearing walls, columns and beams, stairways, halls elev etc. including utilities and amenities
406. CERTIFICATE OF MANAGEMENT –to register a sale, one must get this from the condo corp
407. GENERAL COMMON AREA –not subject to exclusive use
408. LIMITED COMMON AREA –exclusive use like parking space
409. THE CONDOMINIUM ACT –the governing law in buying a condo unit
410. CITY ENGINEER –shall get the approved amendment of condominium apart from HLURB
411. If damaged and ½ or more units are untenantable , there’ll be partition by sale if 30% of owners are opposed to repairs
412. Condo corp maybe dissolved if 50% are opposed to restoration of a 50 year old structure
413. Condo corp. shall not sell common areas unless authorize by SIMPLE MAJORITY OF THE REGISTERED OWNERS
414. COMPLY WITH USE RESTRICTIONS –responsibility of unit owner to condo corp
415. A buyer may ask for a refund of the total amount paid including - AMORTIZATION INTERESTS BUT EXCLUDING DELIQUENCY INTERESTS,
WITH INTEREST THEREON AT THE LEGAL RATE
416. HLURB –final approval if condo corp may integrate the project with another
417. 6 MONTHS –temporary license to sell validity; issued so that the developer may start selling units
418. 1000 SQM –minimum lot area for a farmlot
419. 25% OF FARMLOT –buildable for residential
420. REAL ESTATE INVESTMENT TRUST (REIT) Law –Stock Corporation for the purpose of owning income generating real estate assets
421. CONSTITUTIVE DOCUMENT means Articles of Incorporation
422. FUND MANAGER –responsible for allocation of the deposited property
423. PROPERTY MANAGER –professional administrator of real properties and management services
424. AT LEAST 90% -REIT must distribute annually to its shareholders its distributable income
425. AT LEAST 1000 PUBLIC SHAREHOLDERS –for REIT to be recognized as public company
426. P 300,000,000 –minimum paid up capital for REIT
427. 1% CREDITABLE WITHHOLDING TAX –REIT income payments is subjected to this
428. P10,000,000 –minimum paid-up capital of fund manager
429. 10% FINAL TAX –cash and property dividends is subject to this
430. SUBSCRIPTION TO SHARES OF STOCKS –way to make an investment in the REIT
431. A developer wants to build townhouses but would like to build a condominium project instead – such development would be called
TOWNHOUSE PROJECT
432. PROVISION FOR MAINTENANCE AND INSURANCE –not in master deed
433. 750 SQMS –minimum size of farm lot
434. Condo owner cant PAINT EXTERIOR WALLS OF THE UNIT
435. CREMAINS –ashes from cremation
436. INURNMENT –placing of cremated remains in an urn
437. 500 SQM –minimum plot size for an industrial estate per hlurb admin order 2
438. FACTORY PLOT –allocated lot in an industrial subdivision
439. OSSUARY –internment space for bones
440. PERPERTUAL CARE FUND –amount collected for columbarium project maintenance and upkeep
441. 1 X 2.44 METERS –minimum burial plot size for ground internment
442. 4 x 5 METERS –minimum plot size for mausoleum

G. LEGAL ASPECTS OF SALE, LEASE AND MORTGAGE

443. THERE IS MEETING OF THE MINDS –for a contract to be valid

444. CONTRACT OF SALE –one of the parties obligates himself to transfer the ownership of and to deliver a determinate thing, and the other to pay
therefore a price certain in money or its equivalent; 3 elements: cause, being objects sold and consideration for the property
445. SELLER MUST TRANSFER THE OWNERSHIP
446. CONDITIONAL SALE –there is an agreement contained terms and conditions
447. Spouses can’t sell property to each other as a general except there’s a JUDICIAL SEPARATION OF PROPERTY
448. AGENT CAN’T ACQUIRE THE PROPERTY THAT IS ENTRUSTED TO HIM BECAUSE OF FIDUCIARY RELATIONSHIP
449. NO RIGHT TO REDUCTION IN PRICE –if the transferred area is smaller than the indicated area
450. EQUITABLE MORTGAGE –pacto de retro sale but was actually a mortgage
451. RESIDENTIAL LOTS –covered by Maceda Law
452. 60 DAYS GRACE PERIOD –for failure to pay monthly payments after 20 months
453. MACEDA LAW = total payments made x percentage refund; Broker’s commission cant be refunded; 50% first 5 years + 5% every year after; RA
6552 rights of a buyer of a condominium unit, when he fails to pay monthly installments under the contract to sell
454. 4 YEARS PERIOD –pacto de retro sale but no mention of right to redemption
455. Owner is obliged to MAKE PROPERTY SUITABLE FOR THE PURPOSE if it will enter in lease contract
456. ASSIGN THE CONTRACT OF LEASE –lessee can’t do this without consent of owner
457. DEPOSIT –for unpaid bills and damages to the premises
458. MONTH TO MONTH LEASE –if owner continues to receive rental during first 5 days after tenancy expiry
459. 1 MONTH ADVANCE, 2 MONTHS DEPOSIT –rent control law
460. Rental payment of lease shall be paid on the date as provided in the contract of lease
461. NONPAYMENT OF 1 MONTH –owner can eject tenant: Makati 3 BR
462. NEED OF LESSOR FOR USE OF HIS IMMEDIATE FAMILY –not a ground to eject the lessee
463. CITY/MUNICIPAL TREASURER –lessee may deposit here in case the owner refuses to receive it
464. 3 MONTHS –ejectment period under rent control act
465. UNDER RENT CONTROL -YOU CANNOT SUBLEASE UNLESS THERE’S A CONSENT, increase should not exceed 7%
466. NONPAYMENT OF LANDLINE –not a ground for judicial ejectment
467. LEASE CONTRACT IS VALID EVEN IF THERE’S NO WRITTEN AGREEMENT –meeting of the minds is enough
468. UNLAWFUL DETAINER –case of the owner in case of ejectment
469. MORTGAGE IS ACCESORY CONTRACT
470. RENT TO OWN –no limit in increase
471. 5% WITHHOLDING TAX –rent of an office space by a business corporation
472. PACTUM COMMISSORIUM –immediately appropriate the property mortgaged upon non payment
473. 3 MONTHS (90 DAYS) –right to redeem after foreclosure sale
474. MORTGAGE SHOULD BE REGISTERED WITH REGISTRAR OF DEEDS
475. REAL ESTATE MORTGAGE –property is the collateral
476. FORECLOSURE SALE –should be sold at public auction
477. SPECIAL POWER OF ATTORNEY –bank need this to sell the property under extrajudicial foreclosure
478. PACTUM NON-ALIENDO –owner can’t sell the property during the life of the loan
479. NON PAYMENT OF PRINCIPAL OBLIGATION –a ground for the foreclosure of a real estate mortgage
480. LEGAL MORTGAGE –one required by express provision of the law
481. ACCELERATION CLAUSE –upon nonpayment, the principal will become due and demandable
482. 1 YEAR FROM REGISTRATION OF FORECLOSURE –mortgagor may redeem his property in extrajudicial
483. CORPORATION MAY REDEEM THE PROPERTY FORECLOSED UNTIL BUT NOT AFTER REGISTRATION OF SALE
484. CHATTEL MORTGAGE –when personal property is recorded in the Registry of Property as security for the performance obligation
485. REGISTRATION –reason of notarization of lease contract
486. OPTION –contract granting a person the privilege to buy or not to buy certain real property at any time within the agreed period
487. GENERAL BANKING ACT OF 2000 –provides the redemption period of foreclosed property of corporation from a bank
488. P 1 – 5000 –in Municipalities, this is the range of rent to be included in the RENT CONTROL ACT
489. The buyer may rescind if there’s a lack of ATLEAST 10% OF THE TOTAL AREA
490. VOIDABLE –sale of real property which is valid but which may be annulled on grounds
491. A 5yr lease was entered into by parties and to be valid the same must be WITH A MEETING OF MINDS

H. DOCUMENTATION AND REGISTRATION

492. IN PUBLIC INSTRUMENT –to be registered with the registry of property

493. Contract of Sale is still valid even if it is not notarized ; AT LEAST 18 YO
494. Contract of Lease may be registered with the Registry of Deeds provided it must be DULY NOTARIZED
495. Contract is VOIDABLE if there’s consent but vitiated as error, fraud or undue influence
496. Deed must be duly notarized WHERE THE PARTIES WILL APPEAR BEFORE THE NOTARY PUBLIC
497. For notarization purposes, a COMPETENT EVIDENCE OF IDENTITY MUST BE PRESENTED
498. In case a sale of piece of land is through an agent, the authority of the latter must be IN WRITING; valid for 2 years
499. For SPAs issued abroad and notarized by a native lawyer, the sale entered into is still valid .
500. DEED OF EXTRAJUDICIAL SETTLEMENT –not a common designation for real estate transaction
501. DACION EN PAGO –paying off loans by using property for payment
502. UNILATERAL DEED OF SALE –may be executed by the seller to be able to sell w/o requiring the buyer to be present; for buyers who are
based abroad
503. In DOAS, CAPACITY TO BUY LAND should be indicated with respect to the corporate buyer
504. CORPORATE SECRETARY’S CERTIFICATE –sale must be accompanied by this for the purpose of signing for the corp
505. MINOR BE REPRESENTED BY THE LEGAL GUARDIAN –for minor to purchase condo unit
506. ACKNOWLEDGEMENT –refers to an act whereby a person appears before a notary public
507. VENDOR –in DOAs, the owner of the house being sold is generally referred
508. POWER OF ATTORNEY –an authorization to act on someone’s behalf
509. SPA –required if the owner will be represented by the daughter; lease of real property for more than 1 year
510. PRIMARY ENTRY BOOK –where RD records the instrument of sale and other pertinent docs PD 1529
511. LAW ON AGENCY –law governing use and requirement of a power of attorney in a sale
512. CONTRACT OF AGENCY –where a person binds himself to render some service or to do something in representation of another
513. In Bilateral DOAS, seller and witness signs the DOAS
514. AFFIDAVIT OF LOSS –owner must execute submit this at Registry of Deeds if the TCT cannot be located
515. It is not required to submit the ORIGINAL COPY OF THE TITLE to register a sale with RD
516. GENERAL POWER OF ATTORNEY –atty in fact should have this in rental transaction; it authorizes your agent to act on your behalf for
administration, general supervision and management
517. In order to be issued a title with only tax dec, a title requires the filing of a land registration proceeding in the REGIONAL TRIAL COURT
WHERE THE PROPERTY IS LOCATED
518. SUBSTITUTE POWER OF ATTORNEY –SPA of the SPA
519. DEATH OF THE PURCHASER –SPA of executed by the buyer to purchase land will not be extinguish under the this
520. NOTICE OF LIS PENDENS –TCT annotation indicates that the property is involved in a civil case; land is subject to case for recovery
521. PRINCIPAL –owner who desires to sell will execute a SPA
522. Land Registration Authority is under DOJ
523. PD 1529 –Property Registration Decree
524. ACT OF REGISTRATION –operative act to convey or affect land in a sale insofar as third persons are concerned
525. OWNER’S DUPLICATE CERTIFICATE OF TITLE –presented with the deed of sale in the RD to register DOAS
526. TCT –indefeasible and imprescriptible
527. CANCELLATION OF MORTGAGE –instrument executed by the mortgagee in the RD to discharge mortgage
528. ADVERSE CLAIM –valid for 30 days; may be cancelled by the order of the court
529. SEC 4, RULE 74 –lien in case of registration of deed of extrajudicial settlement; 2 years from date of registration; there should be a VERIFIED
PETITION FOR CANCELLATION to cancel this
530. Settle of adjudication should be published ONCE EVERY THREE WEEKS for a DOES to be registered
531. AFFIDAVIT OF PUBLICATION BY HEIR –proof for extrajudicial settlement has been done
532. AFFIDAVIT OF SELF ADJUDICATION –if there’s one sole heir, this must be registered for the settlement of the state
533. THERE SHOULD BE ORDER OF THE COURT if there shall be erasures, alteration or amendment in Title.
534. In case of loss, the owner may PETITION FOR ISSUANCE OF DUPLICATE OWNER’S CERTIFICATE OF TITLE
535. REGIONAL TRIAL COURT –where the lost/destroyed titles shall be reconstituted; should be at least 10% (not less than 500) of the titles
536. Deeds, conveyances and other instruments shall be signed by at least TWO WITNESS
537. CERTIFICATE OF REDEMPTION –must be presented in the RD to cancel the certificate of sale after the owner was able to redeem the
property
538. TRANSFER TAX –No RD shall register a sale unless it is shown that the ff yearly taxes have been paid and updated in the city’s treasury office
539. LAND TITLING COMPUTERIZATION PROJECT –LRA should enable the quick and secure registration of land titles in the country through the
application of state-of the-art information technology under this program
540. 2 YEARS –validity of notary public’s authority to perform notarial acts .
541. JUDICIAL FORM –form used for the issuance of the TCT
542. SPA to be irrevocable the same must be COUPLED WITH INTEREST
543. CONTRACT TO SELL OF A SUBDIVISION LOT –required by law to be registered with the RD
544. LAND REGISTRATION AUTHORITY –exists for the sole purpose of implementing Torrens system
545. LAND REGISTRATION ACT –prior to property registration decree
546. EULALIO DIAZ III –current admin of LRA
547. DOAS sale be registered with RD in ANY SUFFICIENT

I. FORM REAL ESTATE BROKERAGE AND PRACTICE

548. PRESENTATION AND DEMONSTRATION –step in the brokerage process where the broker is showing the unit/amenities
549. TO DRAFT A LEGAL CONTRACT TO SELL is not considered a function of a real estate broker
550. Salespersons should be DULY ACCREDITED WITH PRC
551. LAW ON AGENCY –law that governs the relationship between broker and owner in lease transaction
552. Broker MUST BE THE PROCURING CAUSE to be entitled to a professional fee
553. EXCLUSIVE RIGHT TO SELL –REB would get a fee even though the owner was able to find a buyer
554. REB –comm; Real Estate Dealer –PROFIT
555. Owner –principal; REB –AGENT
556. OPEN LISTING –there are many authorities to sell
557. NET LISTING –prof fee beyond the minimum amount that the owner would want to receive
558. PROFICIENCY IN ENGLISH –not really an essential element of REB
559. UPON CONSUMMATION OF THE CONTRACT –REB is entitled to a professional fee; If there’s 2 brokers, comm would be shared as agreed
upon
560. HOLDOVER CLAUSE –if buyer was registered within the period of authority to sell, broker is still entitled to a comm
561. REAL PROPERTY –physical, tangible entity, together with all the additions on, above or below the ground, includes all the rights, interests
benefits related to the ownersip of real estate
562. REB should be LICENSED UNDER PRC to lease warehouses
563. REAL ESTATE DEALER –engaged in trading and leasing his own real properties with purpose of profit
564. SECURE PROPERTY LISTINGS -1st step in real estate brokerage practice
565. THE AUTHORITY IS STILL VALID even if it’s not in writing
566. TREASURER’S OFFICE –where the professional tax must be paid
567. PURCHASE AGENCY –if the principal is looking for properties to buy
568. REGISTRATION NUMBER WITH PRC should be indicated in ads, calling cards etc
569. MORTGAGE AGENCY –authority given by a buyer for the broker to secure financing
570. JOINT VENTURE AGENCY - authority given by a party to look for a partner to develop a residential subdivision
571. MULTIPLE LISTING –cooperative arrangement
572. PROSPECT –a buyer who’s willing to buy a property
573. BOARD RESOLUTION OF CORPORATION AUTHORIZING SIGNATORY –if listing is from a corp
574. TURNOVER OF THE PROPERTY is not really part of the steps in real estate brokerage
575. The earnest money shall be considered as FORMING PART OF THE PURCHASE PRICE
576. NEGOTIATIONS –thru broker mediations there’s meeting of the minds
577. ESCROW –agreement (third party in sale transaction); agent (person)
578. LISTING –authority by a REB to find a lessee
579. OPTION MONEY –shall be separate and distinct from the purchase price;
580. Another option aside from escrow is the RETENTION OF MONEY UNTIL SELLER VACATES
581. PROJECT SELLING –general term to selling properties
582. SHARING OF BROKER WITH ANOTHER BROKERS –not contained in an authority to sell
583. EXCLUSIVE AGENCY LISTING –exclusive broker wont get the comm if the owner sold the property
584. FIDUCIARY RELATIONSHIP –relation of trust that governs owner and listing broker
585. REB may advertise the property for sale provided THE CONSENT OF THE OWNER IS GIVEN
586. IRREVOCABLE AUTHORITY –not a mode of extinguishing agency bet owner and broker
587. REB’s liability for the RES shall be limited to acts within the scope of authority given by the broker
588. TO WARRANT THAT THE TITLE IS TRANSFERRED TO THE BUYER is not a duty of the real estate broker
589. REB is not expected to have a working knowledge of Real estate assessment
590. Difference between REB and Real Estate Dealer is ONLY THE BROKER EARNS PROFESSIONAL FEES
591. SUSPECT –buyer willing to buy the but cannot afford the price
592. NON-EXCLUSIVE LISTING –authority granted to 2 or more brokers to lease a property
593. TRANSFERRING THE TITLE –not a function of REB
594. DIRECT BUYER –buyer without engaging the broker
595. REB TYPES: GENERAL AND PROJECT SELLING BROKERAGE
596. FSBO –for sale by the owner
597. LISTING BROKER –has an authority to sell a specific property
598. REB is already considered a practicing broker when IN PRACTICE OCCASIONALLY
599. In case of non-payment of comm, the demand and claim will have to go to COURTS

J. REAL ESTATE FINANCE

600. MULTIPLIER EFFECT –effect that is made in one aspect of the economy with the other economic activities
601. NEEDS –can’t be predicted in real estate economics
602. PRICE –result of the interplay and relationship between supply and demand
603. Monthly amortization on a dimishing balance on installment sales of lots =amortization financed x amortization factor
604. BUYER’S MARKET –numerous lots being sold but only few buyers
605. EQUITY –difference between total price and loanable amount
606. INTEREST RATE AND TERM OF PAYMENT –where the amortization is based.
607. SELLER’S MARKET –few lots being sold but numerous buyers
608. SPOT CASH/CASH PAYMENT–not considered as sale on financing
609. 1000 sqm –maximum size of residential through Pagibig Financing
610. In obtaining a housing loan, it is required that THE HOUSE PURCHASED MUST BE MORTGAGED TO THE BANK
611. MONTHLY AMORTIZATION –monthly payments of an installment
612. Amount to be financed =TOTAL CONTRACT PRICE MINUS DOWNPAYMENT
613. 70 YEARS –maximum age limit for the maturity of payment of the loan in pagibig financing
614. MORTGAGE REDEMPTION INSURANCE –addl requirement which is to pay off the loan or outstanding obligation upon the death of the
borrower
615. DEFERRED CASH PAYMENT –where the buyer pays the total price within a short of period of time without interest
616. MULTIPLIER EFFECT OF REAL ESTATE –effect of real estate on the other economic activities of the country; 1:16.6 –index used in the
Philippines
617. DP =TOTAL CONTRACT PRICE MINUS AMOUNT FINANCED
618. MONTHLY INTEREST =(TCP X PERCENT PER ANNUM) / 12
619. Freddie was paying a monthly amortization of P 54,100/month at 21% interest per annum. If the amortization factor is 0.02705. How much is the
amount being financed?
Sol. 54,100/0.02605 ANS: 2,000,000
620. DIMINISHING BALANCE –interests in payments decreases while the payment of principal increases
621. LOAN VALUE –amount of the property used as a basis for the maximum amount of loan that can be given
622. BALLOON PAYMENT –after 5 years of installment, buyer will make a lump sum payment at the end
623. A movement in the supply of real estate housing versus the effective demand would affect the PRICE
624. IN HOUSE FINANCING –provided by the developers
625. 3,000,000 –maximum loanable amount in Pagibig
626. CAPACITY TO PAY –bank will determine this to assess the. loanable amount
627. BRIDGE FINANCING –availed of by the borrower in the event his long term loan is not yet approved for the purchase
628. ANTICHRESIS –credit acquires the title to receive fruits of a property from the borrower to be applied to the payment of the interest and
thereafter to the principal amount
629. DEMOGRAPHICS –important and main determinant in the demand for housing
630. HOME DEVELOPMENT MUTUAL FUND –provides most housing loans and provident loans to the public
631. REPRICING –refers to the change in interest rates on agreed interval periods of the loan between the lender and the borrower
632. 100% -loan to value ratio for affordable housing through Pag-ibig Fund up to 400k
633. LETTER OF GUARANTY –assurance given by a bank to the seller that he/she will be paid by the bank for the approved buyer’s loan under
certain conditions
634. 4.5% -interest rate under the present affordable housing of Pag-ibig
635. MORTGAGEE –lends money to the borrower
636. 2000 –processing fee to be paid by a borrower of a Pag-ibig loan at the time of approval and take out
637. 6.6% -GDP growth of Phils 2012; 7.1 2013; 6.1 2014; 5.8 2015
638. 3 MEMBERS –maximum number of Pag-ibig members that may be tacked into a single loan
639. 2950 CONTRIBUTION –Pag-ibig loan 5.9 to 6M
640. 65 YEARS OLD –age limit of Pag-ibig loan
641. PRETERMINATION PENALTY –amount charged to the borrower for early payment of the principal
642. CTS –arrangement made with the developer and Pag-ibig fund to guarantee the payment of the monthly amortization by the borrower and
failure of which within a certain period, the developer will buy back the contract to sell from Pag-ibig
643. 1.9% -population growth per NEDA from 2000-2010

K. URBAN AND RURAL LAND USE

644. URBAN DEVELOPMENT AND HOUSING ACT OF 1992 –law providing for a comprehensive urban and housing program in the Phils. RA 7279
645. AREAS FOR PRIORITY DEVELOPMENT -244 areas in Manila identified in Proclamation 1967
646. URBAN LAND REFORM ZONES –term used interchangeably to refer to areas for priority development
647. 284 –present number of APDs/ULRZs
648. LAND USE PLAN –allocating available land resources as equitably as possible among competing user groups for diff functions
649. LAND ASSEMBLY –acquisition of lots of varying ownership through purchase or expropriation for the purpose of planned development and
socialized housing programs without individual property restrictions
650. ON SITE DEVELOPMENT –process of upgrading blighted and slum urban areas with a view of minimizing displacement of dwellers in said
areas
651. SMALL PROPERTY OWNERS –not exceeding 300 sqm residential lots in highly urbanized areas; 800 sqm in other urban areas
652. LAND BANKING –acquisition of lands in advance of actual need to promote planned development and socialized housing programs
653. LAND SWAPPING –process of land acquisition by exchanging land for another piece of land of equal value, or for shares of stock in a
government or quasi government corporation, for the purpose of planned and rational development and provision for socialized housing
654. PROFESSIONAL SQUATTERS –occupy the land without consent of the owner and who have legitimate income for housing
655. SECURITY OF TENURE –degree of protection afforded to qualified beneficiaries against unjust eviction
656. RESETTLEMENT AREAS –used for relocation of the underprivileged and homeless citizens
657. SLUM IMPROVEMENT AND RESETTLEMENT PROGRAM –program of NHA of upgrading and improving blighted areas outside metro manila
658. SQUATTING SYNDICATES –groups of persons engaged in business of squatter housing
659. UNDERPRIVILEGED AND HOMELESS CITIZENS –beneficiaries of this act
660. URBAN AREAS IN RA 7279 -500 persons/sqKM
661. URBANIZABLE AREAS –lands which display marked and great potential of becoming urban areas within 5 years
662. For planning purposes, HUDCC shall be furnished by the LGU a copy of its inventory EVERY 3 YEARS
663. EXPROPRIATION/ACQUIRING PRIVATE LANDS –least priority in modes of acquisition
664. DEPARTMENT OF FINANCE –land valuation guidelines shall be set on the latest real property tax dec by this agency
665. Should the beneficiary unlawfully dispose lot shall also lose right to land, and shall be barred from benefits under this act from date of violation
for a period of 10 YEARS
666. A Beneficiary must not be UNDERPRIVILEGED AND HOMELESS to qualify for a socialized housing program
667. EXEMPTION FROM PAYING LOCAL REAL ESTATE TAXES –not an incentive to encourage greater participation in socialized housing
668. NHA or LGU –provides socialized housing or resettlement areas
669. ON SITE DEVELOPMENT –shall be implemented whenever possible in order to ensure minimum movement of occupants of blighted lands and
slum areas
670. 6 YEARS IMPRISONMENT; 60,000 – 100,000–penalty of professional squatters and squatting syndicate
671. WHEN THE PRIVATE OWNER NEEDS THE LAND –squatters should be evicted or demolished
672. ADEQUATE PERMANENT LOCATION –not a mandatory in execution of eviction or demolition
673. PREVAILING MINIMUM WAGE X 60 DAYS –financial assistance if the relocation provided not be possible with the period
674. Relocation shall be undertaken by the LGU concerned and the NHA with the assistance of other government agencies from service of notice by
the court within 45 DAYS
675. ESTEROS, RAILROAD TRUCKS, RIVERBANKS –unlawful to build structures
676. COMMUNITY HOUSING PROGRAM –mortgage financing program of the NHMFC –assists legally organized associations of underprivileged
and homeless citizens to purchase and develop a tract of land under the concept of community ownership; EXEMPTED FROM CAPITAL
GAINS TAX; SHALL NOT BE EVICTED IN 3 MONTHS; administered by NHA
677. 1/2 OF 1% OF THE ASSESSED VALUE –constitutional principle that the ownership of property’s social function and to raise funds, all local
government units are authorized to impose an additional RET on land of; additional may be imposed on urban lands shall only be applied to
lands with 50,000 assessed value over
678. UP TO 6 YEARS IMPRISONMENT AND 5K – 100K FINE –violators of RA 7279
679. LGU –responsible for implementation of RA 7279; mandated to provide local housing needs for constituents
680. URBAN LAND REFORM was declared under the law under PD 1517
681. DECISIONS OF LOCAL ZONING BOARDS may be appealed to HLURB
682. COMPLIANCE PROJECT –project utilized to comply with the balance housing development required under section 18 of RA 7279
683. NON PERFORMING SOCIALIZED HOUSING ASSETS –socialized housing units of projects owned by the government housing agencies
needing rehabilitation and restoration before they can be made available for sale
684. POTABLE WATER –basic service provided by LGU or NHA in socialized housing
685. CAPITAL GAINS TAX ON RAW LAND USED FOR THE PROJECT –tax exemptions to encourage greater private sector participation
686. TOTAL SUBDIVISION AREA –gross land area + aggregate floor area of all housing units under RA 7279

L. PLANNING, DEVELOPMENT AND ZONING

687. HLURB –assists LGU in the formulation of their respective land use plans
688. LOCAL GOVERNMENT CODE OF 1991 –law that provides that the local government shall prepare respective land use
689. 12 STEPS TO LAND USE PLANNING –recommended in forming LUP
690. TOWN PLAN –official public document adopted by the local government units as a guide to decision regarding the physical and socio-economic
development of the community
691. LAND USE PLAN –allocation of land resources to different use on the comprehensive and integrated plan for the area
692. ZONING –division of the community into functional zones; concerned with use of land, control of density thru imposition of building height
control, open space etc
693. LAND USE PLANNING –refers to the rational and judicious approach of allocating available land resources to different land using activities
such as residential, commercial etc
694. LAND USE PLANS shall be enacted through their respective ZONING ORDINANCE (logical arranges, prescribes and apportions a given
political subdivision)
695. ZONING MAP –a graphic presentation of the zone classifications
696. STAKEHOLDER –has an interest in the development activity, program or project
697. CARRYING CAPACITY ANALYSIS –studying the effects of population growth and urban development on the ecosystem
698. R-1 –LOW DENSITY RESIDENTIAL
699. C-2 –MEDIUM DENSITY COMMERCIAL ZONE
700. SHZ –SOCIALIZED HOUSING ZONE
701. POLICE POWER –legal basis of the LGU to zone areas
702. BUILT-UP AREA –contiguous grouping of 10 or more structures
703. CBD –areas for trade, services and business purposes as used in the zoning ordinances
704. CONFORMING USE –use of an area in accordance with the zoning classification
705. CLUP –documents embodying specific proposals for guiding, regulating growth and development of a city
706. EXCEPTION –grants an owner relief from certain provisions of a zoning ordinance
707. FAR = GFA/LOT WHERE IT STANDS
708. CONFLICTING USES –refers to uses or land activities with contrasting characteristics sited adjacent to each other
709. COMPATIBLE USE –capable of existing together harmoniously
710. CERTIFICATE OF NON-CONFORMANCE – certificate issued to owners of all uses existing prior to the approval of the zoning ordinance which
do not conform in a zone as per provision of the said ordinance
711. AGRICULTURAL ZONE –intended for cultivation/fishing and pastoral activities
712. REZONING –process of introducing amendments to or a change in the text or maps of the zoning ordinance
713. ZONING ADMINISTRATOR –employee responsible for the implementation of the zoning ordinance
714. SETBACK –open space left between the building the lot lines is referred to
715. I-2 –Medium Industrial Zone
716. 66 DWELLING UNITS OR MORE PER HECTARE –High density residential
717. LOCAL ZONING BOARD AND ADJUSTMENT APPEALS –where application for exemption is filed
718. MALLS –High density commercial zones
719. GOLF COURSE –not considered environmentally critical area
720. WATER BODIES TAPPED FOR DOMESTIC SOURCES –not environmentally critical project
721. In low residential zone no building should be higher than 10 METERS
722. AIR TRANSPORTATION OFFICE –prescribes the height limit in the national building code
723. GFA –total floor space within the perimeter of the permanent external walls
724. SPECIAL INSTITUTIONAL ZONE –institutional establishments like welfare homes, homes for the aged etc
725. GENERAL RES ZONE –no filling station/service station
726. 20 DWELLING UNITS AND BELOW –low density residential
727. BEDROOM –not a customary accessory in dwelling units
728. BUFFER AREA –separates incompatible elements, uses to control pollution, no permanent structures are allowed
729. TOURIST ZONES –sites within cities endowed with natural physical attributes and resources that are conducive to recreation, leisure and other
wholesome activities
730. WATER ZONE –bodies of water within cities or municipalities w/c includes rivers, streams, lakes, and seas

M. ECOLOGY

731. ECOLOGY –Distribution and abundance of life and interactions between organisms and their environment; syn - natural environment
732. ECOSYSTEM –all organisms living in a particular area, as well as nonliving, physical components of the environment
733. BIOMES –major regional grouping of plants and animals
734. ABIOTIC –non-living and physical components of the environment
735. DENR –tasked to protect the envi and natural resources of the country
736. ENVIRONMENTAL IMPACT ASSESSMENT –process that involves predicting and evaluating the likely impacts of a project
737. ENVIRONMENT COMPLIANCE CERTIFICATE –proponent conforms with by signing the sworn undertaking of full responsibility over
implementation of specified measures which are necessary to comply with existing environmental regulations
738. THE PHILIPPINE CLEAN AIR ACT OF 1999 –law that governs the protection of the environment, particularly covering the pollution control of
the atmosphere
739. CERTIFICATE OF NON COVERAGE –project is not covered by the EIS system and is not required to secure an ECC
740. ENVIRONMENTAL CRITICAL PROJECT –project which may pose significant negative impact at certain thresholds of operation regardless of
location
741. ENVIRONMENTALLY CRITICAL AREA –environmentally sensitive such that significant environmental impacts are expected if certain
types/thresholds of proposed projects are located, developed or implemented in it
742. ABANDONMENT STAGE –there shall be specific measures and conditions that the project proponent has to undertake
743. Most problematic sources of pollution AIR, WATER, and SOLID WASTE
744. AIR POLLUTANT –any matter found in the atmosphere that is detrimental to health
745. AMBIENT AIR QUALITY –general amount of pollution present in a broad area; atmosphere’s average purity
746. CERTIFICATE OF CONFORMITY –certicate issued by DENR certifying that a new vehicle meets the requirements of the law
747. GREENHOUSE GASES –potentially be expected to induce global warming
748. INFECTIOUS WASTE –means that portion of medical waste that could transmit an infectious disease
749. ECO-PROFILE –geographic based instrument for planners and decision makers which present an evaluation of the environment quality and
carrying capacity of an area
750. MEDICAL WASTES –materials generated as a result of patient treatment
751. OZONE DEPLETING SUBSTANCES –substances that deplete ozone layer
752. INCINERATION –burning of waste which emits poisonous and toxic fumes
753. SIGA –called the traditional small-scale method of community neighborhood sanitation
754. TREATMENT –not part of the solid waste reduction scheme
755. DISPOSAL –in hierarchy of solid waste management, the following is the last method considered
756. AGRICULTURAL WASTES –generated from planting/harvesting crops
757. BULKY WASTES –can’t be appropriately placed in separate containers because of size, shape or other physical attributes.
758. COMPOSTING –controlled decomposition or organic matter by micro-organisms.
759. CONTROLLED DUMP –disposal site at which solid waste is deposited in accordance with the minimum prescribed standards of site operation
760. ECOLOGICAL SOLID WASTE MANAGEMENT –systematic administration of activities which provide segregation at source, segregated
transportation, storage, transfer, processing, treatment, and disposal of solid waste
761. LEACHATE –liquid produced when waste undergo decomposition and when water percolate through solid waste undergoing decomposition
762. MATERIALS RECOVERY FACILITY –solid waste transfer station; sorting, drop-off, composting, recycling
763. OPEN DUMP –wastes are indiscriminately thrown of without due planning and consideration for environmental standards
764. RE-USE –process of recovering materials intended for the same or different purposes
765. SANITARY LANDFILL –site designed, constructed, operated and maintained in a manner that exerts engineering control over significant
potential environmental impacts
766. SOLID WASTE –discarded household, commercial, non-hazardous, agricultural and other solid waste
767. SOLID WASTE MANAGEMENT –discipline associated with control of generation, storage, collection, transfer, and transport,
processing/disposal of solid wastes
768. SPECIAL WASTES –paints, thinners, batteries, spray canisters and the like
769. TRANSFER STATIONS –facilities to receive solid wastes, temporarily store, separate, convert, or process the materials in the solid wastes, or
to transfer the solid wastes directly from smaller to larger vehicles for transport
770. BLACK –color of non-biodegradable solid waste container
771. GREEN – color of biodegradable solid waste container
772. DOMESTIC SOURCES –largest source of water pollution
773. POINT SOURCE –identifiable source with specific point of discharge into body of water
774. NON POINT SOURCE –cropland runoffs, animal wastes, construction sites, mining and logging operations, landfills, spils
775. DRINKING WATER –water intended for human consumption
776. FRESHWATER containing dissolved common salt containing less than 500 ppm
777. GROUNDWATER –subsurface water occurs beneath a water table in soils and rocks or in geological formations
778. SEWAGE –water borne wastes, excluding oil or oil wastes, removed from residences, bldgs. Etc. discarded
779. EFFLUENT –discharge from known sources which is passed into a body of water or land
780. SURFACE WATER –all water which is open to the atmosphere and subject to surface runoff
781. LAGUNA LAKE DEVELOPMENT AUTHORITY –shall have exclusive jurisdiction to issue permit for the use of all the surface water for any
projects in or affecting the said region
782. LAGUNA DE BAY REGION –rizal, laguna (san Pablo), pasay Caloocan, quezon, manila, tagaytay, town of carmona cavite
783. SLUDGE –solid or semi solid or liquid waste or residue generated from wastewater/water treatment plant, waste control pollution facility
784. NATIONAL COMMISSION ON INDIDENOUS PEOPLE –primary govt agency for indigenous people
785. Total Number Of Ethnoliguistic Groups Of INDIGENOUS PEOPLE IS ESTIMATED TO BE 110
786. INDIGENOUS CULTURAL COMMUNITIES –refers to a group of people or homogenous societies identified by self ascription and ascription by
other who have continuously lived as organized community on communally bounded and defined territory
787. WRIT OF KALIKASAN –remedy available to a non-governmental organization whose constitutional right to a balanced and healthful ecology is
violated
788. FREE AND PRIOR INFORMED CONSENT –consensus of all the ICCs/IPs to; be determined in accordance with their respective customary
laws/practices
789. A petition for protection of the environment shall be filed with the SUPREME COURT
790. CERTIFICATE OF ANCESTRAL DOMAIN TITLE –a title recognizing the rights of possession and ownership of ICCs/IPs over ancestral
domains
791. TEPO –Temporary environmental protection order
792. WASTE AVOIDANCE AND REDUCTION –Highest priority in hierarchy of solid waste management
793. DOMESTIC WASTE –highest major source of water pollution
794. EPO (ENVIRONMENTAL PROTECTION ORDER) –order issued by the court directing or enjoining any person or government agency to
perform or desist from performing an act in order to protect the environment

N. REAL ESTATE APPRAISSAL, SITE LOCATION AND MAP READING

795. REAL ESTATE APPRAISSER –graduate of relevant bachelor’s degree; private practitioner (valuer) required to post a 20,000 bond; city
assessor should get a licensure to be promoted in higher position
796. APPRAISSAL –estimate of value as of a particular point in time expressed in peso amount; NOT for capital gains tax
797. ORAL REPORT –not allowed anymore under RESA
798. PARTITIONING OF ESTATE –purpose of appraisal where it is used to determine the FMV for distribution to heirs
799. PRINCIPLE OF SUBSTITUTION –value of replaceable property intends to be indicated by the value of equally desirable substitute property;
market data approach (considered an approach to value) is related
800. PRINCIPLE OF HABU –most likely to produce the greatest net return
801. INCREASING AND DECREASING RETURNS –application of larger and larger amounts of the agents in production will produce greater and
greater net income up to a point is
802. PRINCIPLE OF CONFORMITY –reasonable degree of social and economic homogeneity
803. PRINCIPLE OF ANTICIPATION –value is worth of all present and future benefits arising from ownership; income approach (estimates of the
actual or stabilized gross income less provisions for vacancy and bad debts, operating expenses, real estate taxes, repairs and maintenance,
and administrative charges) is related
804. PRINCIPLE OF REGRESSION/PROGRESSION -old right beside new, increased or decreased value
805. SOCIAL AND IDEAL STANDARDS –considered a factor that creates value
806. FUNCTIONAL OBSOLESCENE –value depreciates in view of the decline in the utility or feature of the property
807. COST APPROACH –utilizes the concept of determining replacement cost
808. If building depreciates 2% per year, life of the building will be 50 YEARS
809. GROSS INCOME MULTIPLIER = selling price of a comparable property / ANNUAL GROSS INCOME
810. TIE LINE –considered an imaginary line used by the geodetic engineer in plotting and locating a specific property
811. VICINITY MAP –map w/c provides the general location of a real property including the surrounding landmarks and reference points
812. GEODETIC ENGINEER –professional who undertakes resurvery, survey and determination of lot boundaries
813. LOT PLAN –determines the shape and dimensions of the lot being purchased
814. PACING –counting of steps in a required distance to determine distance
815. BEARING –angle less than 90 degrees measure from N to S and referred to in plotting a lot as
816. ONE DEGREE = 60 MINUTES
817. GEOHAZARD MAP –identifies flood prone and landslide prone areas
818. TOPOGRAPHIC MAP –map showing all the details that make up the surface features of the earth
819. CONTOUR LINES –lines that indicate variation in land elevation
820. SUBDIVION PLAN –plan showing general features and layout of a subdivision including block and lots and open spaces
821. BUREAU OF LANDS BARRIO MONUMENT –common point of reference is seen in the technical description
822. HYDROGRAPHIC SURVEY –principal purpose is the determination of data relating to bodies of water
823. LAND CLASSIFICATION SURVEY –classification of the country’s unclassified public forests into alienable or disposable lands
824. Psu = private survey
825. Pcn = private consolidation subdivision survey (IF BUYER BOUGHT ADJACENT LOTS)
826. Psd = private subdivision
827. BEARING AND LOT POINTS –to plot the shape and details of the lot
828. VALUE –relationship between a thing desired and a potential purchaser
829. PURCHASING POWER –observation in principles of appraisal is that the desire for the property must be backed by
830. SUN ORIENTATION –not a value factor in the appraisal of parcel of land
831. DETERIORATION –loss in value brought about by the wear and tear and the action of natural elements
832. BUREAU OF LANDS –approves the subdivision plan of a parcel of land which has been subdivided into several lots
833. CYLINDRICAL CONCRETE MONUMENT –marker used in the lot plan boundaries on the parcel land
834. MARKET DATA APPROACH –sales comparison approach
835. REPRODUCTION COST –cost to create a virtual replica of an existing building using the same design and similar building materials
O. GENERAL/FUNDAMENTALS OF REAL ESTATE

836. Those who had passed the DTI licensure examinations in 2007 and prior years but failed to obtain their license upon effectivity of R.A .No. 9646
may still register upon effectivity of the RESA without examinations provided they have earned CEP or CPE units as follows:
a. 120 CEP or CPE credit units
b. 12 CEP or CPE credit units
c. 15 CEP or CPE credit units
d. 18 CEP or CPE credit units
837. Ownership of land in the Philippines is governed by law such as, the 1987 Philippine Constitution. In addition, it may also be provided by
a. Executive Order of the President
b. Special laws of the Legislature
c. House Bills in Congress
d. Special Exemption Orders
838. The principle that states that all lands of the public domain belong to the state is referred to as
a. Public domain doctrine
b. Regalian doctrine
c. Patrimonial doctrine
d. State doctrine
839. As a real estate practitioner, we should but not:
a. willingly share the lessons and experiences with fellow brokers
b. solicit a listing currently listed exclusively with another broker
c. pass a listing to a third broker without the knowledge and consent of the listing broker
d. put sign or notice of a property for sale without authority from the owner
840. Under the law, private corporations and associations may hold such alienable lands of the public domain only by lease, not to exceed a total
area of
a. 1,000 has.
b. 500 has.
c. 12 has.
d. 3 has.
841. The national integrated organization of natural persons duly registered and licensed as Real Estate Service Practitioners is called
a. Accredited Practitioners Organization
b. Integrated and Accredited Professional Practitioners
c. Accredited and Integrated Professional Organization
d. Accredited and Integrated National Organization
842. An idle land consisting of 2.5 hectares valued at P 100 per square meter was being taxed by the municipal assessor and classified as
agricultural. If the idle land tax imposed is 4% by the ordinance, how much will the owner pay for idle land tax ?
a. P 40,000
b. P 100,000
c. P 20,000
d. P 50,000
SOL. 25,000 × 40%(AL) = 1,000,000 × 4% = 40,000
843. The power of the state to regulate the use of one’s property for legal purposes only is referred to as
a. Escheat
b. Eminent domain
c. Police power
d. Power to issue permit
844. In determining the value of the house and the tax declaration being presented was issued 3 or more years, the seller shall submit the following
to the BIR
a. An updated tax declaration
b. The latest tax declaration
c. Certification from the Assessor whether the same is still the latest or not
d. Certification of improvement by the Assessor
845. It is the right given to an owner of an adjoining land to pass or have access thru another land is called
a. Right of way easement
b. Right of way passage
c. Right of way for people
d. Right o way encroachment
846. A lessee who rented out an office space will pay his monthly rental to the owner in the amount of P35,000 per month and a deposit of P70,000.
How much withholding tax must he deduct from the payment
a. P 1,750
b. P 3,500
c. P 5,250
d. P 10,500
Sol. 35,000 × 5% = 1,750
847. Corporations or partnerships may acquire land in the Philippines provided that it is
a. Not more than 1000 has.
b. Not more than 40% foreign capital
c. Not more than 5 hectares
d. Not more than 1 hectare for residential land
848. The following is not exempted from basic real estate tax imposed by the city :
a. Real property owned by the Republic of the Philippines
b. All lands, buildings and improvements actually, directly and exclusively used for charitable, religious or educational purposes;
c. Private cemeteries or burial grounds;
d. Machineries and equipment that are actually, directly and exclusively used by local water district and government owned or controlled
corporations engaged in the supply of water and/or generation of electric power
849. David, an Australian citizen, may not be allowed to own the following property in the Philippines
a. Residential condominium unit
b. Commercial Office condominium unit
c. House and lot
d. House built on leased land
850. Janet wants to become a dual citizen, while in the Philippines, she must file a petition for dual citizenship with this government agency
a. Department of Foreign Affairs
b. Philippine Embassy
c. Bureau of Civil Registry
d. Bureau of Immigration
851. The Register of Deeds required an affidavit of waiver from a foreigner who is married to a Filipina to register the sale , which is considered
a. A valid requirement of the Register of Deeds
b. Void
c. Voidable
d. Required only if the foreigner is a husband
852. The best evidence of ownership of a condominium unit is
a. Tax declaration of the condo unit
b. Condominium Certificate of title
c. Transfer certificate of title
d. Contract to sell on the unit
853. The Family Code of the Philippines, under EO 209, became effective on
a. August 3, 1988
b. August 3, 1996
c. August 8, 1988
d. August 1, 1988
854. For the acquisition of a residential condominium unit by a former natural born citizen who has become a foreigner, it is required that
a. Execute a sworn statement under BP 185
b. Must become a dual citizen
c. Not used in buy and sell of property
d. Not exceed 40% of the units
855. The Board, in coordination with the AIPO of real estate service practitioners, shall prepare, update and maintain a roster of real estate service
practitioners which shall contain the following information, except
a. names of all registered real estate service practitioners
b. field of specialization in real estate service
c. their residence and office addresses
d. license numbers
856. It is the conveyance of the right to enjoy the fruits of the property owned by a person.
a. Contract of lease
b. Usufruct
c. Right of way
d. Sale of property
857. For Cebu City, the basic tax it may charge for real estate taxes shall be
a. Not exceeding 1% of the assessed value
b. Not exceeding 1% of the fair market value
c. Not exceeding 2% of the fair market value
d. Not exceeding 2% of the assessed value
858. The following is not considered as good evidence or proof of ownership of one’s land
a. tax declaration,
b. realty tax receipts,
c. deed of sale
d. lot plan
859. As best evidence of ownership in fee simple is the transfer certificate of title as it is imprescriptible and
a. Indefeasible
b. With original copy in the Register of Deeds
c. Issued by the Register of Deeds
d. Signed by the Register of Deeds
860. Under BP 185, urban land shall be land located in
a. Urban areas
b. Commercial areas
c. Residential subdivisions
d. Central business district areas
861. No deed of sale in favor of a transferee under Batas Pambansa Blg. 185 shall be registered by the Register of Deeds unless accompanied by a
sworn statement showing the following, except:
a. names and addresses of his parents, of his spouse and children, if any;
b. area, location and mode of acquisition of his landholdings in the Philippines, if any;
c. his intention to reside permanently in the Philippines;
d. how the transferee became a foreigner
862. The following person cannot be considered to be a Filipino citizen under the present law
a. Born of Filipino Father
b. A dual citizen under RA 9225
c. Declared a Filipino citizen by the President
d. A naturalized Filipino
863. The PRBRES shall have the power to prescribe guidelines and criteria for this requirement for real estate service practitioners in consultation
with the accredited and integrated professional organization of real estate service practitioners
a. Continuing Professional Education
b. Continuing Education for Professionals
c. Continuing Education Program
d. Continuing Practitioners Education
864. Referred to also as age of majority, at what age may a person buy and sell property on his or her own
a. 18 years old
b. 18 years old with the consent of the parents
c. 18 years old with legal guardian
d. 21 years old
865. For a couple planning to get married, the property relations where each will own his or her own properties now and in the future, is referred to
as
 a. Relative Community of Property
b. Separation of Conjugal Property
c. Conjugal Partnership of Gains
d. Absolute Community of Property
866. In case of non-redemption of the property foreclosed extrajudicially by the bank , when is the deadline to pay the capital gains tax by the highest
bidder
a. Within 30 days from auction sale
b. Within 30 days from registration of certificate of sale
c. Within 30 days from expiration of period of redemption
d. Within 30 days from notarization of the certificate of sale
867. For an applicant for the licensure examination for real estate consultants, he/she must show proof that he/she has experience as a licensed real
estate broker for at least
a. Five (5) years
b. Ten (10) years
c. Fifteen (15) years
d. Three (3) years
868. Under the Code of Ethics, the following is considered ethical,
a. Negotiate a property listed directly with the owner
b. Cooperate with other brokers on property listed even if not licensed
c. Willingly share with other brokers the lessons from his experience and study
d. Inform and criticize among fellow brokers another broker who is not handling the sale properly
869. The Declaration of Principles of the Code of Ethics for Realty Service Practitioners clearly states the Golden Rule which says
a. “Treat others as you want them to be treated”
b. “Do not do unto others what you want others do to you”
c. “Do unto others what you do not want others do unto you
d. “Treat others as you like them to treat you”
870. The following shall be considered under R.A. No. 9646 as engaging in real estate service practice
a. A person, natural or juridical, who shall directly perform by himself/herself the acts mentioned in Section 3 hereof with reference to his/her
or its own property, except real estate developers
b. Any receiver, trustee or assignee in bankruptcy or insolvency proceedings
c. Any person acting pursuant to the order of any court of justice
d. Any person who is a duly constituted attorney-in-fact for purposes of sale, mortgage, lease or exchange, or other similar contracts of real
estate, who require compensation or remuneration
871. A Professional Identification Card shall likewise be issued to every registrant for real estate service practice. upon payment of the required fees
but does not indicate the following
a. registration number
b. date of release by PRC
c. expiration date
d. duly signed by the chairperson of the Board
872. A listing currently listed with a real estate broker and obtained and acquired by another broker must not be solicited or obtained by said broker
unless :
a. The authority of the listing broker is non-exclusive
b. The authority of the listing broker has expired and the owner did not renew the authority
c. The authority of the listing broker has been revoked and the owner gives only non-exclusive listing
d. The owner, without solicitation from the new broker, offers to list the same with the new broker after the authority of the listing broker has
expired or has been revoked
873. The bundle of rights excludes the following as a right of ownership
a. Right to use
b. Right to put up structure beyond restrictions
c. Right to enjoy the fruits on the land
d. Right to possess
874. A sign of a property for sale or lease should not be placed on a vacant parcel of land by more than one broker and only if
a. The broker has an exclusive listing
b. The sign should be of the same size as the other signs
c. The broker is authorized by the owner
d. The address of the broker is indicated on the sign
875. The following acts of a broker are considered unethical. Which act is considered ethical? for other persons such as client’s money and similar
items.
a. Encouraging the parties to a sale to undervalue the sale
b. Keeping a special bank account, separate and distinct from his own funds, for all monies received in trust
c. Disclosing his client’s confidential personal information to a fellow broker in order to close the sale.
d. Delaying submission of a formal offer that he had received from a prospective buyer in the hope of securing a higher offer.
876. There is a Professional Regulatory Board of Real Estate Service, to be chosen from three (3) recommendees chosen by the Commission from a
list of nominees submitted by the accredited and integrated professional organization of real estate service practitioners consisting of
a. Three (3) nominees per position
b. Five (5) nominees per position
c. Ten (10) nominees per position
d. Two (2) nominees per position
877. A broker has just received from a fellow broker’s client a written offer to purchase a property of his seller, together with a check for earnest
money payment. Which of the following steps is the most proper and ethical for him to take?
878. Call another fellow broker whose client is also interested in the property to improve the offer.
a. Call the seller immediately to inform him about the offer and submit both the written offer and the earnest money payment .
b. Show the offer to another prospective buyer in the hope of getting a better price for the seller.
c. Reject the first offer outright based on his opinion that the offered price is too low.
879. Under DTI then, the Code of Ethics covering practitioners is referred to as
a. National Code of Ethics for the Realty Service Practice
b. National Code of Ethics for Practitioners
c. Code of Ethics for the Service Practice
d. Code of Ethics and Responsibilities
880. It is not a ground for the Board not to register and issue a certificate of registration to any successful examinee after passing the examinations
 a. Convicted by a court of any criminal offense involving moral turpitude
b. Found guilty by his or her association of violation of the code of ethics
c. Found guilty of immoral or dishonorable conduct after investigation by the Board
d. Has been found to be psychologically unfit.
881. When a licensed broker accepts a listing from a fellow practitioner, the following should not be followed
a. The agency of the broker who offers the listing should be respected until it has expired and the listing comes to his attention from a
different source.
b. The agency of the listing broker should be respected perpetually in all dealings with his client/principal.
c. The agency of the broker who offers the listing should be respected until the owner, without solicitations, offers to list with him
d. The listing should not be passed to a third broker without the knowledge and consent of the listing broker.
882. For the results of the licensure examination, it shall be released by the Board from the last day of the examination within
a. Five (5) days
b. Ten (10) days
c. Fifteen (15) days
d. One (1) month
883. Which one of the following acts of a broker can be considered within the bounds of the code of ethics?
a. Encouraging the parties to a sale to indicate a consideration which is lower than the actual price.
b. Serving as a witness in court proceedings involving a property owned by his client .
c. Criticizing the acts of another broker who does not know how to handle the transaction.
d. Delaying submission of a formal offer that he had received from a prospective buyer.
884. In case the heirs will just file and pay now the estate tax return of their deceased father who died 10 years ago or sometime 2003, the value of
the property of the estate shall be based on
a. Value of the BIR or zonal value upon filing
b. Value at time of death of the Assessor
c. Value at the time of filing in 2014 of the BIR or assessor whichever is higher, at the time of filing
d. Value of based on the BIR or Assessors value whichever is higher, at the time of death
885. In an ad in a newspaper which one of the following newspaper line ads is blatantly unethical?
a. “HOUSE ON A VERY QUIET NEIGHBORHOOD”
b. “WITH 24 HOURS SECURITY GUARDS!”
c. “THE VALUE OF THIS PROPERTY WILL INCREASE IN ONE YEAR !”
d. “COOL WEATHER!”
886. The Board shall also prescribe the essential requirements as to the curricula and facilities of schools & colleges seeking permission to open
academic courses or already offering such courses in real estate service, in cooperation with the
a. Commission on Higher Education
b. Department of Education and Culture
c. National Association of Real Estate Service Practitioners
d. Philippine Association of Schools and Colleges
887. It is not a subject in the examinations for real estate brokers
a. Condominium concept and other types of real estate holdings;
b. Real estate finance and economics;
c. Basic principles of ecology;
d. Land management and real property laws
888. The real estate broker takes the following steps as a licensed real estate broker. Which action can be considered unethical?
a. He accepted an exclusive listing for an abandoned house and lot even with his knowledge that somebody died violently in the property.
b. He proceeds to entertain prospective buyers all the while disclosing to them the crime committed inside the property.
c. He also advertised the listing giving the exact address for an open house on one weekend.
d. He invites his friends to attend the open house hoping that real buyers will feel that there are many others interested in the property .
889. The following applicant is not required to undergo an examination to be given by the Board as provided for in R.A. No. 9646
a. Real Estate Salesperson
b. Real estate broker
c. Real estate assessor
d. Real estate appraiser
890. Three of the following are tricks employed by unethical real estate brokers when bringing clients to view their listings. Which one is ethical?
a. Using a roundabout route to avoid eyesores near the neighborhood.
b. Employing a cleaning company to freshen the smell of the house interiors
c. Forecasting changes from residential to commercial zoning to hint at high rates of value appreciation
d. Showing another inferior property to position his listing as the better alternative
891. After a sale is consummated, the broker should not do the following:
a. Accept commission from both the seller and buyer without the knowledge of either of the parties
b. Assist the buyer to acquire possession and ownership of the real property bought as agreed.
c. See to it that both the buyer and seller concluded a fair contract advantageous to both
d. In case called upon to act as a witness, should give testimonies in the most unbiased, honest, truthful and professional manner.
892. What will be the donor’s tax rate to be paid by a relative if he donates a parcel of land to his fourth cousin in the net amount of P 12,000,000
a. 20%
b. 30%
c. 15%
d. 10%
893. There are times when a broker has to share his listings with other brokers. In case of sale, the listing broker should not do the following:
a. share the commission as agreed upon
b. negotiate directly with the client without the consent of the other broker
c. not seek unfair advantage over his fellow broker
d. not criticize publicly the other broker
894. When advertising a property listing, the broker should not:
a. advertise without the consent of the owner
b. state the real estate broker’s license number in the ads
c. state the true picture of the property
d. advertise within the period of authority
895. To the ethical broker, the principle of full disclosure dictates that vital information that can affect the property or the transaction should be
disclosed and explained to his client. Which one of the following is contrary to an ethical disclosure?
a. Changes or planned changes in zoning affecting the property
 b. Your opinion of future land values in the vicinity of the property
c. Details of the contract
d. Sale of similar properties in the vicinity
896. The ethical broker always strives to protect his clients’ interests . Which of the following is not ethical and is not in the best interest of your
client/seller?
a. Maintain utmost confidentiality on matters not directly related to the property
b. Strive to be familiar with laws and ordinances on real estate
c. Discuss the negotiating position of your client with the buyer’s broker to hasten the sale
d. Tell your client/seller that his price is too high and give opinion on the fair market value of the property
897. The following common property relations may be agreed upon in the marriage settlement, except
a. Relative Community of Property
b. Separation of Conjugal Property
c. Conjugal Partnership of Gains
d. Absolute Community of Property
898. The National Code of Ethics and Responsibilities under the RESA does not cover the following real estate practitioner
a. Real Estate Developers
b. Real Estate Assessors
c. Real Estate Salespersons
d. Real Estate Appraisers
899. In case of violation of the Code of Ethics of a broker who is a member of a real estate service organization, the sanction that may not be
imposed
a. Suspension from association
b. Expulsion from association
c. Removal of license by the association
d. Fine imposed by the association
900. Dan and Jean executed a marriage settlement specifying that the regime of separation of property shall govern their property relations during
marriage. They are married in proper ceremonies on December 1, 1988. Under the Family Code, which of the following systems shall govern
their property relations during their marriage?
 a. Absolute community of property
b. Separation of property
c. Conjugal partnership of gains
d. Exclusive property
901. In his advertisements, brochures or announcements regarding a property for sale, he should present the following, except
a. a true picture of the property, its improvements, or rights and interests therein
b. material facts concerning the property
c. whatever liens or encumbrances it may have, if any, and
d. the minimum price the owner would be willing to accept
902. As a real estate appraiser, the appraiser may not undertake to make an appraisal or render an opinion in the following case
a. If within his field of his experience and competence
b. if he will also be the broker who will sell the property being appraised
c. he obtains the assistance of another practitioner familiar with such type of property or
d. the facts are fully disclosed by the client.
903. The State recognizes the vital role of real estate service practitioners in the social, political, economic development and progress of the country
in the following, but not
a. promoting the real estate market
b. enhanced income from income taxes of practitioners
c. stimulating economic activity
d. enhancing government income from real property-based transactions
904. The policies, resolutions and rules and regulations issued or promulgated by the Board shall be subject to the review and approval by the
a. Professional Regulatory Commission
b. Professional Regulatory Board of Real Estate Service
c. Professional Regulation Commission
d. Office of the President
905. What will the total real estate taxes to be paid by a lot owner for the year if his land consisting of 450 sqms. And with a fair market value of the
assessor at P6,000 per square meter is classified as commercial the tax rate is the maximum imposable by the city
a. P 54,000
b. P 27,000
c. P 10,800
d. P 40,500
906. The Chairperson and the Members of the Board shall, at the time of their appointment, must possess the following qualification of having been
an active licensed practitioner of real estate service, at the time of his appointment, for at least
a. Five (5) years
b. Ten (10) years
c. Twelve (12) years
d. Fifteen (15) years
907. The chairperson or any member of the Board may be suspended or removed by the President of the Philippines, upon the recommendation of
the Commission and after due notice and hearing in a proper administrative investigation to be conducted by the Commission but not on the
following ground:
a. Neglect of duty,
b. Abuse of power,
c. Complaint for murder
d. Unprofessional, unethical conduct
908. The certificate of registration to be issued to the real estate service practitioner shall be valid until
a. Remains in full force and effect until revoked or suspended in accordance with R.A . No. 9646.
b. Remains in full force and effect until every 3 years
c. Expires every December 31 of each year
d. Remains in full force and effect until revoked by HLURB
909. The Board may, after giving proper notice and hearing to the party concerned, revoke the certificate of registration and the professional
identification card of a real estate service practitioner, but not on the following ground
a. Procurement of a driver’s license by fraud or deceit;
b. Allowing an unqualified person to practice the profession by using one's certificate of registration
c. Unprofessional or unethical conduct;
d. Malpractice or violation of any of the provisions of R.A. No. 9646
910. As a real estate appraiser, he should not undertake the following, except
a. render an opinion without careful and thorough analysis
b. render an appraisal report in letter form
c. render the appraisal with a predetermined price
d. render an interpretation without considering all factors affecting the value of the property
911. No foreign real estate service practitioner shall be admitted to the licensure examination, be given a certificate of registration or a professional
identification card, be issued a Special/Temporary Permit, or be entitled to any of the privileges under R.A. No. 9646 and the IRR unless
a. He becomes a dual citizen
b. He is a former natural born Filipino
c. There is foreign reciprocity with his country
d. There is a foreign treaty with his country
912. All real estate brokers and private real estate appraisers shall be required to post an amount to be determined by the Board, which in no case
shall be less than Twenty thousand pesos (P20,000.00), renewable every
a. One (1) year
b. Two (2) years
c. Three (3) years
d. Until revoked.
913. A capital asset is property held by the taxpayer, whether or not connected with his trade/business, such as
a. Stock in trade of the taxpayer
b. Other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year
c. Property held primarily for sale to customers in the ordinary course of his trade or business
d. Property used as residence by the taxpayer
914. The owner of a house and lot sold the property owned by him and rented out to foreigners in the business of leasing in the amount of
P4,500,000. The rate of tax on the sale shall be
a. 1.5%
b. 3.0%
 c. 5.0%
d. 6.0%
915. A real estate broker sold a parcel of land in the amount of P5,800,000, inclusive of the broker’s commission of 5%. If the capital gains tax and
documentary stamps tax will be for the buyer’s account, how much will be the net amount received by the owner
a. P 5,162,000
b. P 5,510,000
c. P 5,075,000
d. P 5,423,000

Sol. 5,800,000 × 5% = 290,000

5,800,000 – 290,000 = 5,510,000
916. Under the Code of Ethics, the Realty Service Practice is not considered the following
a. a profession
b. business
c. calling
d. occupation,
917. A BIR large taxpayer with its head office located in Manila sold its parcel of land located in Batangas City to a buyer from Lipa City but who was
doing business in Lucena. Where should the tax on the sale be paid ?
a. Manila
b. Batangas City
c. Lipa City
d. Lucena
918. How much should the documentary stamp tax be paid on the sale of a parcel of land whose selling price is P 4,500,000 but the zonal value was
P5,000,000 and the fair market value in the tax declaration was P 3,200,000
a. P 75,000
b. P 67,500
c. P 60,000
d. P 48,000
Sol. 5M × 1.5% = 75K
919. The following is not a power of the Professional Regulatory Board
a. Conduct licensure examinations for the practice of the real estate service profession
b. Prescribe the appropriate, syllabi of the subjects for examination with their tables of specifications;
c. Issue, suspend, revoke or reinstate, after due notice and hearing, certificates of registration or professional identification cards for the
practice of real estate service;
d. Remove or expel a real estate service practitioner from his association
920. An owner who leases out his house regularly in his business of leasing earns a monthly rental of P50,000 on one residential house and another
P 150,000 per month on his rentals from his office building. How much will be his total output VAT for the year ?
a. P 216,000
b. P 288,000
c. P 72,000
d. P 240,000
50k + 150k = 200k × 12%(VAT) = 24K × 12(1year) = 288k
921. The Board shall adopt and promulgate the Code of Ethics and Responsibilities for real estate service practitioners which shall be referred to as
a. National Code of Ethics for the Realty Practice
b. National Code of Ethics for Practitioners
c. National Code of Ethics for the Service Practice
d. National Code of Ethics and Responsibilities
922. The foreclosed asset of a bank was sold in the amount of P 1,900,00 to the buyer. What will be the tax rate on the sale of the said asset
a. 1.5%
b. 3.0%
c. 6.0% - witholding tax
d. 5.0%
923. The real estate broker who intends to practice in the City of Makati must also pay the professional tax to
a. PRC
b. PRBRES
c. Bureau of Internal Revenue
d. City of Makati
924. A real estate broker will be earning a total professional fee in the amount of P2,500,000, inclusive of VAT. How much will be the net amount to
be received by the broker after deducting the withholding tax if the broker had reported his income would go beyond P720,000 for the year
a. P 2,250,000
b. P 2,008,929
c. P 1,897,321
d. P 2,125,000
Sol 2.5M - 15%(witholding tax) = 2,125,000
2,125,000 × 12/112 = 227,678.57
2,125,000-227,678.57=1,897,321
925. The Real Estate Service Act of the Philippines governs the following practitioners, except
a. Real Estate consultant
b. Real estate assistant assessor
c. Real estate salesperson
d. Real estate dealer
926. An owner sold his house and lot consisting of 300 sqms. for P5,200,000, but based on the BIR Zonal Values, the lot zonal value was P 8,000
per square meter and verification with the assessor showed that the fair market value of the lot was P 1,800,000 and the house at P 2,200,000.
What will be the basis for the payment of capital gains tax ?
a. P 5,200,000
b. P 4,600,000
c. P 4,000,000
d. P 2,400,000
927. The maximum interest penalty that may be imposed for unpaid real estate taxes in 2004 shall be
 a. 12 months
b. 10 years
c. 36 months
d. Until paid
928. A province or city, or a municipality within the Metropolitan Manila Area, may levy and annual tax on idle lands at the rate not exceeding five
percent (5%) of the assessed value on the following
a. Residential vacant lot of 1,200 sqms.
b. One hectare of land planted with 60 mahogany trees
c. Lot being disputed among two owners
d. 2 hectares of agricultural land ¾ of which are cultivated
929. As exceptions to the general rule, alien acquisition of real estate in the Philippines is not allowed in the following case :
a. Acquisition before the 1935 Constitution;
b. Acquisition by hereditary succession ;
c. Purchase by aliens of not more than 40% of the units in a condominium project;
d. Purchase by a former Filipino citizen
930. The assessor put a fair market value of P5,500 per square meter on a 1,000 sqm. land located in a outside a residential subdivision and used in
the business of parking space. How much is the assessed value of the land if the assessment level of residential land is 20% and commercial
land is 50%
a. P 5,500,000
b. P 1,100,000
c. P 2,750,000
d. P 1,650,000
Sol. Use Commercial
5,500 × 1,000 = 5.5M × 50% (AL) = 2,750,000
931. How much will be the quarterly payments for special fund tax will have to be made by the owner if he owns a house and lot valued by the City
Assessor at P2,000,000 where the basic tax rate is 2%
a. P 8,000
b. P 2,000
c. P 4,000
d. P 1,000
Sol. 2M × 20% (AL) = 400k
SEF = 400K × 2% = 8K/4 = 2K
932. No real estate salesperson, either directly or indirectly, can negotiate, mediate or transact any real estate transaction for and in behalf of a real
estate broker without first already.
a. Taking the examinations as a real estate salesperson
b. Securing an authorized accreditation as real estate salesperson for the real estate broker
c. Posting the required bond of P 1,000 with HLURB
d. Obtaining a professional identification card
933. During the fall of real estate prices, the owner sold a parcel of land at P3,600,000 but the zonal value then was 4,000,000 while the fair market
value in the tax declaration at the time of sale was P 2,300,000. If the transfer tax is ½ of 1%, how much transfer tax shall be paid by the buyer
a. P 20,000
b. P 18,000
c. P 11,500
d. P 40,000
Sol. 4M × .005 = 20K
934. In case the appeal to the Local Board of Assessment Appeals is not in your favor, where may you bring it up on appeal
a. Regional trial court
b. Central Board of Assessors Appeal
c. Central Board of Assessment Appeals
d. Department of Interior and Local Government
935. There are four professional sectors under the PRC, to which does real estate service belong to
a. Medical and Health
b. Business, Education and Management
c. Engineering
d. Technology
936. What is the monthly penalty interest on the basic real estate taxes in case one fails to pay the tax due last year on a lot of 500 sqms classified
as commercial and valued by the assessor at P 2,500 per square meter with a basic tax rate of 2%
a. P 250.00 per month
b. P 12,500.00 per month
c. P 3,000,00 per year
d. P 240.00 per month
500 × 2500 = 1,250,000 × (50%)AL = 625,000 × (2%)Tax Due = 12,500 × (2%) Penalty = 250
937. The power to adopt the Code of Ethics and Responsibilities, under the RESA shall be under the
a. Professional Regulatory Board of Real Estate Service
b. Professional Regulation Commission
c. Accredited and Integrated Professional Organization
d. Professional Regulatory Commission
938. Under the then code of ethics, the realty service is considered the following and not a
a. Profession
b. Business
c. Calling
d. Occupation
939. The definition of real estate service practitioners under the RESA, it does not cover the following.
a. Real Estate Salesperson
b. Real Estate Consultants
c. Real Estate Appraiser
d. Real Estate Brokerage Partnership
940. Under the code of ethics, it does not include the relation of the real estate service practitioner to the
a. Public
 b. Government
c. Developer
d. Client
941. It is required for a Real Estate Broker to attend Continuing Professional Education for the reason of
a. Their dealings with each other shall be fair, honest and just
b. The spirit of camaraderie, cooperation and professional relationship of other practitioners shall be promoted
c. High level of respect relationship with colleagues in the Realty Service Practice shall be maintained
d. Adequate knowledge, competence, and expertise in real estate development and management shall be maintained
942. The broker is believed to violated his relation to the ________________ during undervaluation of the sale.
a. Public
b. Government
c. Client
d. Organization he belongs
943. It is not required for a Real Estate Broker to indicate the Professional License No. in the following documents
a. Letterhead
b. Advertisements
c. Calling cards
d. Deed of Absolute Sale
944. Under the code of ethics, it is not required for a real estate broker to secure the following before engaging in practice
a. Payment of Professional Tax
b. Professional Identification Card
c. Certificate of Registration with PRC
d. Postal I.D.
945. The following act should not be done by the broker and is unethical
a. Split commission with an unlicensed broker
b. Share commission as agreed
c. Agree to revise commission sharing
d. Accept arrangement for reduction in commission as agreed
946. The owner requested the broker on how to reduce the capital gains tax to be paid. It is unethical for the broker to recommend the following
a. To pay the capital gains on time.
b. To pay transfer tax to the city treasurer
c. To pay in manager’s check to the bank
d. To undervalue the sale price
947. The practitioner must display the following in their place of business as provided in the Code of Ethics
a. AIPO Receipts
b. Surety Bond
c. Professional Identification Card
d. Certificate of Registration
948. The power to adopt the Code of Ethics and Responsibilities, under the RESA shall be under the
a. Professional Regulatory Board of Real Estate Service
b. Professional Regulation Commission
c. Accredited and Integrated Professional Organization
d. Professional Regulatory Commission
949. Under the then code of ethics, the realty service is considered the following and not a
a. Profession
b. Business
c. Calling
d. Occupation
950. The definition of real estate service practitioners under the RESA, it does not cover the following.
a. Real Estate Salesperson
b. Real Estate Consultants
c. Real Estate Appraiser
d. Real Estate Brokerage Partnership
951. Under the code of ethics, it does not include the relation of the real estate service practitioner to the
a. Public
b. Government
c. Developer
d. Client
952. It is required for a Real Estate Broker to attend Continuing Professional Education for the reason of
a. Their dealings with each other shall be fair, honest and just
b. The spirit of camaraderie, cooperation and professional relationship of other practitioners shall be promoted
c. High level of respect relationship with colleagues in the Realty Service Practice shall be maintained
d. Adequate knowledge, competence, and expertise in real estate development and management shall be maintained
953. The broker is believed to violated his relation to the ________________ during undervaluation of the sale.
a. Public
b. Government
c. Client
d. Organization he belongs
954. It is not required for a Real Estate Broker to indicate the Professional License No. in the following documents
a. Letterhead
b. Advertisements
c. Calling cards
d. Deed of Absolute Sale
955. Under the code of ethics, it is not required for a real estate broker to secure the following before engaging in practice
a. Payment of Professional Tax
b. Professional Identification Card
c. Certificate of Registration with PRC
d. Postal I.D.
956. The following act should not be done by the broker and is unethical
 a. Split commission with an unlicensed broker
b. Share commission as agreed
c. Agree to revise commission sharing
d. Accept arrangement for reduction in commission as agreed
957. The owner requested the broker on how to reduce the capital gains tax to be paid. It is unethical for the broker to recommend the following
a. To pay the capital gains on time.
b. To pay transfer tax to the city treasurer
c. To pay in manager’s check to the bank
d. To undervalue the sale price
958. The practitioner must display the following in their place of business as provided in the Code of Ethics
a. AIPO Receipts
b. Surety Bond
c. Professional Identification Card
d. Certificate of Registration

P. LEGAL ASPECTS OF SALES, LEASE AND MORTGAGE/ FAMILY CODE/ PROPERTY MANAGEMENT

959. When the deceased registered owner is survived as a sole heir, the estate of the former maybe transferred to a latter with the execution of a
document is known as:
a. Principle of Infiltration
b. Extra-Judicial Settlement of Estate
c. Will
d. Declaration of Ownership
e. Affidavit of Adjudication
960. Refers to a group of people or homogenous societies identified by self-ascription and ascription by other, who have continuously lived as
organized community:
a. Indigenous Peoples
b. Ancestral Peoples
c. Native Peoples
d. None of the above
961. The Statute of Frauds applies only to:
a. Partial fulfilled contract
b. Completely fulfilled contract
c. Executory contracts
d. None of the above
962. A lease contract providing that the lessee can stay in the premises for as long as he wants and for as long as he can pay the rentals and its
increases:
a. Perpetual Lease
b. Sublease
c. Long term lease
d. None of the above
963. Finance is the of science of
a. Collection of money
b. Income
c. Management of money
d. Giving of money
964. All are on-site activities in a Compliance Audit except:
a. Conducting an opening meeting
b. Collecting audit evidence through gathering information, observations and interviews, and sampling
c. Evaluating audit evidence
d. Conducting a closing meeting
965. Select which are the obligations of a lessee:
a. To pay the price of the lease
b. To stipulate or make an agreements
c. To pay the expenses for the deed of the lease
d. All of the above
966. In the mode of acquiring ownership, actual possession of land in opposition to all other claimants is called:
a. Accretion
b. Prescription
c. Adverse possession
d. All of the above
967. Which of the following is the correct definition of Compliance Audit:
a. it is process of verifying whether the money of an institution is properly used
b. a systematic, independent and documented verification process of objectively obtaining and evaluating audit evidence to determine
whether specified criteria are met
c. a systematic and unbiased verification whether the terms of the brokerage contract are met
d. the government’s inspection of compliance with legal requirements
968. Notice that intended to constructively advise, or warn all people who deal with the property that they so deal with it at their own risk:
a. Notice of Lis Pendens
b. Notice of lawsuit
c. Caveat
d. None of the above
969. In the phrase “save in cases of hereditary succession’ in Sec. 7, Art. XII (National Economy and patrimony), Phil. Charter, What kind of
transferee of private land does it refer to?
a. The National Government
b. An heir in Phil. Law on succession and inheritance
c. A humanitarian institution
d. The estate of deceased
e. A charitable, religious and education institution
970. Juan and Maria are live-in partners. Maria donated a parcel of land to Juan. What is the status of the contract?
a. Voidable
b. Void
c. Unenforceable
d. Valid
971. Spouses have the freedom to choose the regime that will govern their properties by marriage settlement or pre-nuptial agreement, such as, but
not include:
a. Absolute community
b. Conjugal partnership
c. Absolute separation
d. Agent
972. In a defective contracts, the defect is caused by lack of form, authority, or capacity of both parties not caused by prescription is:
a. Unenforceable
b. Rescissible
c. Voidable
d. None of the above
973. Property exclusively owned by the husband is called:
a. Chattel
b. Succession
c. Paraphernal
d. Capital Property
974. All are special formalities of a notarial will except:
a. Subscription
b. Attestation Clause
c. Jurat
d. Acknowledgment
975. Ecology is covers the study of ___________.
a. population, community, ecosystem
b. ecosystem, organism, inhabitants
c. ecosystem, population, inhabitants
d. inhabitants, population, community
976. Lists of all the activities, processes and discharges to be addressed during the audit including a lists of elements to be audited and the type of
observations to be made to assess compliance.
a. Master list
b. Shortlist
c. Enlist
d. Checklist
977. Instruments issued to an auditee pursuant to the legislation. These include approvals, licenses, notices, permits and certificates of registration:
a. Legislative instruments
b. Legal instruments
c. Statutory instruments
d. Audit instruments
978. Purchaser of the thing leased can terminate the lease except in the following conditions:
a. Lease is recorded in the Registry of Deeds
b. There is stipulation in the contract of sale that purchaser shall respect the lease
c. Purchaser knows the existence of the lease
d. a and b
979. The following occupations are required by law to be registered with the Professional Regulations Commission, except:
a. real estate consultant
b. real estate broker
c. real estate appraiser
d. property manager
980. Refers to a title formally recognizing the right of possession and ownership of Indigenous Peoples over their Ancestral Domains identified and
delineated:
a. Native Title
b. Certificate of Ancestral Domain Title
c. Certificate of Ancestral Lands Title
d. None of the above
981. Choose which are the characteristics of a mortgage contract:
a. Real
b. Unilateral
c. All of the above
d. Accessory
e. Subsidiary
982. Stipulation whereby the thing mortgaged, shall automatically become the property of the creditor in the event of non-payment of the debt within
the term fixed:
a. Pactum Non Aliendo
b. Pactum Commissorium
c. Pactum de Aliendo
d. None of the above
983. What is functional share of the surviving spouse that will appear in the new title if  the descendant(decedent) left three (3) legitimate children
and one (1) (il)legitimate child:
a. 4.5/9
b. 5.5/9
c. 1/9
d. 1/ 4.5
e. 3.25/9
984. In the absence of a prenuptial agreement, the following are excluded from the community property except:
a. Gratuitous title by other spouse; unless otherwise provided by donor
 b. Fruits as well as income of properties mentioned in choice (a); unless otherwise provided by donor
c. Property for personal and exclusive use of either spouse
d. Jewelry for personal and exclusive use of either spouse
e. Property acquired before the marriage and the fruits as well as the income, if any of such property
985. Husband and wife cannot sell property to each other except when a separation  of property is agreed upon in the “ante-nuptial” contract and:
a. When their property relationship is one absolute community of property
b. When one of the spouses is still a minor
c. When there is a pending annulment of their marriage
d. When one of the spouses is accused of infidelity
e. When there is a judicial separation of property
986. In a defective contracts, the defect is caused by lack of essential elements or illegality is:
a. Decree of legal separation
b. Annulment or declaration of nullity of marriage
c. Death of either spouses
d. Extra-judicial separation of property
987. In a defective contracts, the defect is caused by lack of essential elements or illegality is:
a. Voidable
b. Unenforceable
c. Void
d. None of the above
988. An act allowing illegitimate children to use the surname of their Father, amending for the purpose Article 176 of EO No.209, otherwise known as
the “FAMILY CODE OF THE PHILIPPINES”:
a. RA 9775
b. RA 9255
c. RA 9335
d. RA 9252
989. The vendor is liable to the vendee for any hidden faults or defects in the thing sold is called:
a. Adverse claim
b. None of the above
c. Caveat Venditor
d. Caveat Emptor
990. It is a contract entered into by the future spouses fixing the matrimonial property regime that should govern during the existence.
a. Marriage Contract
b. Marriage Ceremony
c. Marriage Settlement
d. Marriage License
991. What is Legitime?
a. An inherited property
b. An acknowledged heir
c. Reserved property for compulsory heirs
d. Child born out of wedlock
e. A process of Legitimation
992. What is not an effect of legal separation?
a. The spouses shall be entitled to live separately from each other
b. The absolute community or conjugal partnership shall be dissolved and liquidated
c. The offending spouse shall be disqualified from inheriting from the innocent spouse by intestate succession and the provisions in favor of
the offending spouse made in the will of the innocent spouse shall be revoked by operation of law.
d. The spouses are not considered married anymore
993. An act whereby a person is permitted, with the formalities prescribed by law, to control to a certain degree the disposition of his estate to take
effect after his death.
a. Holographic will
b. Notarial will
c. Will
d. Succession
994. After the lapse of said period, the annotation of adverse claim may be cancelled upon filing of a:
a. Appeal
b. Plea
c. Verified petition
d. None of the above
995. A law that provides that certain contracts/agreements must be in writing in order to be enforceable:
a. Statute of Frauds
b. Obligation Contracts
c. Statue of Obligation
d. None of the above
996. Omission in the testator’s will of one, some, or all of the compulsory heirs in the direct line, whether living of the execution of the will or born
after the death of the testator.
a. Preteriton
b. Preterition
c. Pretereton
d. Pretenton
997. Today property management emerged as a _________________science.
a. financial
b. multi-disciplinary
c. real estate
d. managerial
998. Which of the following does not form part of on-site activities in a Compliance Audit:
a. Planning and preparing for the audit
b. Collecting background information
c. Compiling checklists
 d. All of the above
999. Which is the essential requisites of a contract?
a. Consent of the contracting parties
b. Object certain w/c is the subject matter of the contract
c. Cause or consideration of the obligations
d. All of the above
1000. Date of effectivity of Family Code:
a. 3 August 1988
b. 3 August 1998
c. 3 August 1978
d. 3 August 1980
1001. A special contract of permanent union between a man and a woman entered into in accordance with law for the establishment of conjugal and
family life. Its nature, consequences and incidents are fixed by law and cannot be the subject of stipulation.
a. Void contract
b. Voidable contract
c. Marriage contract
d. Marriage Ceremony

Q. Real Estate Brokers Mock Board Examination PART-II: Special and Technical Knowledge (1 hr and 20minutes)

1002. If the document to be notarized is a Corporate Secretary’s Certificate , what notarial act should be performed
a. Acknowledgment
b. Certification
c. Verification
d. Jurat
1003. Mr. Doubtful bought a 200 sq.m. Subdivision lot at P3,000/sq.m. He paid 25% down payment and thereafter proceeded to pay in 120 equal
amortizations at19% interest per annum. He has paid 84 monthly amortizations totaling P737, 621.84 inclusive of penalty interest of P32, 000.
What is Mr. Doubtful cash surrender value under the Maceda
a. Law.
b. P513,373
c. P423,373
d. 443,811
e. 442,573
200 × 3000 = 600,000 × 25% = 150,000
737,621 + 150,000 – 32,000 = 887,621.84 × 60%
1004. When the owner’s duplicate certificate of title is lost, the registered owner shall file a petition in court for:
a. Judicial reconstitution
b. Administrative reconstitution
c. Quieting of title
d. Issuance of new duplicate certificate of title
1005. The decision of the HLURB on cases under its jurisdiction is appealable to
a. Regional Trial Court
b. Department of Justice
c. HUDCC
d. Office of the President
1006. An act to provide protection to buyers of condominium project
a. RA 7279
b. PD 957
c. BP 220
d. RA 4726
1007. Aliens can purchase condominium units not exceeding ____________ of the total condominium units for sale.
a. 50%
b. 60%
c. 40%
d. 100%
1008. What is the term of existence of a Condominium Corporation?
a. 25 years
b. 30 years
c. 50 years
d. Co-terminus with the condominium project
1009. The Condominium Corporation which is the condominium counterpart of the Homeowners’ Association (HOA) in a housing subdivision project
must file its Articles of Incorporation at:
a. Securities and Exchange Commission
b. Housing and land Use Regulatory Commission
c. Housing and Land Use Regulatory Board
d. Housing and Urban Development Coordinating Council
1010. Under BP 220, the minimum floor area of a single-detached house in socialized housing project is:
a. 18 sqm
b. 22 sqm
c. 30 sqm
d. 42 sqm
1011. Under BP 220, firewalls must be of masonry construction and should be at least _____ in thickness:
a. 100mm
b. 150mm
c. 180mm
d. 200mm
1012. The law that governs the economic and socialized housing projects:
a. BP # 220
b. RA # 7279
 c. PD # 957
d. RA # 9646
1013. Urban Development and Housing Act (UDHA) of 1992.
a. R.A. 7279
b. R.A. 7927
c. R.A. 9279
d. R.A. 7972
1014. As provided by RA # 7279 a developer of a subdivision project is required to develop at least 20% of the project for:
a. Parks & open space
b. Low cost housing
c. socialized housing
d. economic housing
1015. A stipulation authorizing mortgagee (creditor, lender) to appropriate the property as his own if the mortgagor fails to pay the principal obligation
at the stipulated time is called:
a. Pacto de Retro
b. Pacto de Non-Alienado
c. Pactum Commissorium
d. Tacita Reconducta
1016. The owner of a house and lot agreed to lease his house to the lessee who paid the deposit and the initial month’s rent; however, the agreement
was not written in the contract of lease. The lease is
a. Inexistent
b. Unenforceable
c. Valid
d. Void
1017. Which of the following is not a form of an ownership limitation ?
a. Lease
b. Tenancy
c. Mortgage
d. Easement
1018. Ms. Clara is married to Mr. Claro. She stated her marital status and the name of her husband in the Deed of Absolute Sale, such information is
a requirement under:
a. RA 9225
b. PD 1529
c. BP 185
d. RA 6552
1019. Failure to perform a contract
a. Rescission
b. Release
c. Novation
d. Breach
1020. Annotation of Section 4, Rule 74 of the Rules of Court on the title to the property of a deceased person, a surviving spouse and children,
provides that the property shall be subject to the rights of three of the following four. Who among the four does not have the right to the subject
property?
a. Heirs
b. Any persons who might have been unduly deprived of his participation in the estate of the deceased
c. The parents of the deceased
d. Creditors
1021. A house and lot with swimming pool which is considered as a dwelling place was rented by an expatriated in Makati City for the monthly rental
of P150,000 per month. Up to how many months advance may the owner impose on the tenant?
a. Two months
b. Three months
c. Depending on agreement of the parties
d. One month
1022. Under the Foreign Investments Act of 1991, a former natural born Filipino who has become an Australian citizen may not acquire land for the
following purpose.
a. Lease out the land
b. Agriculture purposes
c. Buy and Sell business
d. Put up a plant
1023. What is the minimum lot frontage if single detached corner lot under BP220?
a. 8
b. 12
c. 10
d. 12.5
1024. The limitation on the bundle of rights or an owner wherein only the right to use and possess the property is given away voluntarily is by virtue of
a. Contract of Lease
b. Deed of Mortgage
c. Right of way
d. Deed of Sale
1025. _____________ is a condensed history of the title showing the various links in the chain of title including liens, encumbrances, and other
conditions affecting the title.
a. Abstract of the title
b. Annotations of the back of the title
c. Consolidation of the title
d. Opinion of the title
1026. A contract where the right to receive the fruits of the property with obligation to apply them to payment of interest and principal.
a. Mortgage
b. Anthecresis
c. Dacion En Pago
 d. Usufruct
1027. When personal property is recorded in the Registry of Property as a security for the performance of an obligation, it is called.
a. Real estate mortgage
b. Chattel mortgage
c. Pledge
d. Registration
1028. A contract of lease between the lesson and lessee must be duly notarized for the purpose of.
a. Registration
b. Validity
c. Binding effect on both parties
d. Requirement by law
1029. A contract granting a person the privilege to buy or not to buy certain real property at any time within the agreed period at a fixed price.
a. Option
b. Contract to sell
c. Reservation agreement
d. Letter of Intent
1030. The law that provides the redemption period of foreclosed property of a corporation from a bank for a maximum period of 3 months .
a. Mortgage law
b. General Banking Act
c. BSP Circular
d. Extrajudicial foreclosure Law
1031. The rent control law, RA 9653, covers residential apartments and if located in municipalities, it is covered if the rental at the time of the
effectivity of the law is form.
a. P 1.00 to P 10,000 per month
b. P 1.00 to P12,800 per month
c. P 1.00 to P 5,000 per month
d. P1.00 to P6,000 per month
1032. In case the area on a purchase of a lot turns out different form that stated in the contract, the buyer may rescind the sale provided the lack in
area is at least.
a. 10%
b. 20%
c. 25%
d. 50%
1033. A sale of real property which is valid but which may be annulled on grounds such as vitiation of consent is classified as.
a. Valid
b. VOIDABLE
c. Unenforceable
d. Simulated
1034. A 5 – year lease over a house and lot was entered into by the parties and to be valid the same must be.
a. Duly notarized
b. Paid the documentary stamp tax
c. Registered with Registry of Deeds
d. With a meeting of minds
1035. The Maceda Law is applicable in the following case involving a residential property.
a. Sale Through pag-ibig loan
b. Sale through bank financing
c. Sale through financing of payment from the seller
d. Sale through borrowed money lending company
1036. A owner who desires to sell his house and lot and will execute a Special power of attorney is referred to as the.
a. Seller
b. Principal
c. Agent
d. Vendor
1037. The land Registration Authority is directly under the Supervision of this government agency.
a. Department of Justice
b. Department of Environment and natural Resources
c. office of the president
d. Department of land Registration
1038. PD 1529 covers matters governing registration and dealings with Registered land is referred to as.
a. Decree of land Registration
b. Property Registration Decree
c. Property and Land Registration Decree
d. Registration of Land Decree
1039. It shall be the operative act to convey or affect the land in a Sale insofar as third person are concerned.
a. Act of registration
b. Notice of registration
c. Payment of registration fees
d. Notarization of deed of sale
1040. No voluntary instrument, such as deed of absolute sale, shall be Registered by the Register of deeds, unless the following is presented with the
deed of sale.
a. Owners duplicate certificate of title
b. Original certificate of title
c. Certified true copy of the certificate of title
d. Owners copy of the deed of sale
1041. A land issued a title is evidence of ownership of the land and Is considered as indefeasible and.
a. Conclusive
b. Imprescriptible
c. Invincible
d. Unquestionable
1042. How many hectares required before a subdivision can be said the specific land area is phase?
a. 10,000sqms
b. 50,000 sq.m
c. 100,000 sq.m or 10 hectares
d. 1,000 sq.m
1043. The entire parcel of the real property divided or to be divided, including all structure thereon;
a. condominium unit
b. condominium project
c. common areas
d. condominium
1044. The right to own land or real estate in the Philippines is governed by special laws and
a. Executive Orders of the President
b. Ordinances
c. Congress and Senate of the Philippines
d. Philippine Constitution
1045. Part of a condominium project intended for any type of independent use or ownership.
a. Condominium
b. Condominium unit
c. Condominium project
d. Common area
1046. In a contract of lease of a house with a monthly rental of P20,000 per month, the following shall be grounds for judicial ejectment, except:
a. Misuse of leased property which has resulted in its deterioration
b. Payment of rental in check
c. Lack of payment of the rent stipulated
d. Expiration of stipulated period of lease
1047. If there is no prohibition, the lessee of a house and lot may do the following without the consent of the owner:
a. builds additional floors on the house
b. assign contract of lease
c. mortgage the house and lot
d. Sublease the property
1048. This law provides for the right to refund when developer fails to complete the development project within the required period and entitled the
buyer a refund of 100% of the total payments less penalty interest plus legal interest of money.
a. RA 6552
b. RA 3844
c. BP 558
d. PD 957
1049. What legal doctrine of property ownership presupposes concomitant obligations to the state and the community are that property is supposed to
be held by the individual only as trust for people in
a. general.
b. Property obligations concept
c. Steward concept
d. Acquisition concept
e. Property acquisition Doctrine
1050. Refers to weight bearing walls, columns and beams, stairways, hall, elevators, etc.
a. condominium project
b. condominium
c. condominium unit
d. common areas
1051. What is the contract document executed by both the seller and buyer where seller promises and binds himself to sell to the buyer a certain
property upon the occurrence of several conditions to be fulfilled by the buyer, or both the seller and buyer, non –fulfilment of which release
both from their respective obligations under the terms of the contract.
a. Contract of Sale
b. Deed of Absolute Sale
c. Contract to Sell
d. Sales Document
1052. Housing Loan Condonation Act is what RA#?
a. 8501
b. 9000
c. 8555
d. 8506
1053. The book that contains among others the entry number, name of the parties , nature of document and time and date, it was presented and
received is called as the:
a. registration book
b. primary entry book
c. entry logbook
d. registration logbook
1054. The required number of votes of registered owners to authorize a condominium corporation to dispose of common areas in a condominium
projects are:
a. 2/3
b. ¾
c. simple majority
d. unanimous
1055. Traditional ownership is evidenced by:
a. master deed and deed of declaration
b. CCT
c. TCT
d. Tax declaration
1056. Complex Subdivision is defined:
a. subdivision schemes for flat terrain.
 b. Subdivision with no streets or open is delineated.
c. subdivision with streets and open spaces.
d. Subdivision scheme where the resulting blocks are more or less rectangular in shape.
1057. A developer has 12 hectares to develop, the land allocation for non-saleable portion is:
a. 100,000 sqms
b. 40,000 sqms
c. 36,000 sqms
d. 50,000 sqms
1058. It refers to an area reserved exclusively for parks and playgrounds, roads, etc.
a. Open space
b. Community facilities
c. Frontage
d. Water system
1059. If the gross area to develop is 10 hectares and has 20 dwelling units per hectare, the percentage of gross area allocated for parks and
playgrounds is?
a. 4400sqms
b. 5000sqms
c. 3500sqms (3.5%)
d. 4000sqms
1060. The assessment levels to be applied to the fair market value of real property to determine its assessed value shall be:
a. exact
b. current
c. fixed
d. it depends
1061. Individual septic tank shall conform to the standards and design of sanitation code of the Philippines also known as:
a. PD 856
b. PD 1216
c. RA 9000
d. EO 55
1062. A dwelling unit with one side attached to a firewall.
a. Single Detached
b. Single Attached
c. Duplex
d. Row House
1063. The side of lot which abuts a street.
a. Set back
b. Rear yard
c. frontage
d. regular lot
1064. Who issue a License to sell and Development Permit?
a. HLURB
b. HUDCC
c. NHA
d. SEC
1065. A lot situated at the intersection of two or more streets.
a. Through lot
b. Irregular lot
c. Corner lot
d. Regular lot
1066. What is the arbitrary agency regarding with the complaints or proceedings against owners, developers, dealers, brokers ad salesmen.
a. HUDCC
b. Regular Court
c. HLURB
d. NHA
1067. PD 957 and BP 220 IRRs, they shall act as one of the witnesses to the sales document which negotiated the sale of a subdivision lot or
condominium unit indication their certificate of registration number and renewal date.
a. Broker
b. principal borrower
c. developer’s employee
d. co-borrower
1068. The property in alienation or sale the creditor to satisfy, a debt in money or in payment of the loan is called:
a. Pacto de Retro Sale
b. Deed of Sale with Mortgage
c. Dacion En Pago
d. Sale with Assumption of Mortgage
1069. It is a mortgage which covers two or more properties.
a. Blanket Mortgage
b. Open Ended Mortgage
c. Anthecresis
d. Real Estate Mortgages
1070. Refers to the automatic appropriation of the property or object of the mortgage upon the maturity of the loan.
a. Pactum Commisorium
b. Pactum Non-Alienado
c. Anthecresis
d. Blanket Mortgage
1071. It is a stipulation in the mortgage which prohibits the mortgagor from alienating the mortgaged property subject to the mortgage within the
mortgage period.
a. Pactum Commisiorium
b. Pactum Non-Alienado
 c. Anthecresis
d. Blanket Mortgage
1072. It is a contract by virtue of which the creditor acquires the right to receive the fruits of an immovable of his debtor, with the obligation to apply
them to the payment of the interest, if owing and thereafter to the principal of his credit.
a. Pactum Commisorium
b. Pactum Non-Alienado
c. Anthicresis
d. Blanket Mortgage
1073. It is one by which the mortgage property shall be sold at public auction and the proceeds of the sale shall be applied for the satisfaction of the
obligation on the debt.
a. Automatic Redemption Clause
b. Hold-over Clause
c. Escalation Clause
d. Foreclosure Proceeding
1074. A provision in the blanket mortgage that the property whose loan value has been fully paid shall be released from the mortgage.
a. Automatic Redemption Clause
b. Hold-over Clause
c. Escalation Clause
d. Foreclosure Proceeding
1075. It refers to the right of the owner-lessor to receive the contract rent and the reversion if the property at the expiration of the lease contract.
a. Lease Fee Estate
b. Leave
c. Lease Contract
d. Economic Rent
1076. The revenue derived from the use of the land and of the forces inherent in the land called as:
a. Lease Fee Estate
b. Lease Money
c. Lease Contract
d. Economic Rent
1077. A contract between an owner and a tenant selling forth the conditions of the use referred to as:
a. estate
b. Lease
c. Lease Contract
d. Economic Rent
1078. A contract between the Buyer and the Broker which stipulates that if the Broker succeeds in procuring the property and negotiates the
purchases, a fee will be paid by the Buyer.
a. Purchase Agency
b. Lease with Option to Buy
c. Real estate Mortgage
d. Contract of Lease
1079. It is one whereby the owner leases his property to the lessee buyer with the privilege to exercise the right to buy thereof at a specific date at an
agreed price and the agreed rental may be considered as part at the purchase price when the lessee-buyer exercise the option.
a. Purchase Agency
b. Lease with Option to Buy
c. Real estate Mortgage
d. Contract of Lease
1080. It is defined as an accessory contract whereby the debtor guarantees the performance of the principal obligation by subjecting the real property
or rights thereto as security in case non-payment of the obligation within the agreed period.
a. Purchase Agency
b. Lease with Option to Buy
c. Real estate Mortgage
d. Contract of Lease
1081. A sale where portion of the purchase price is paid in cash, and the balance is converted into a loan in favor of the seller in which the object of
the sale or the property is mortgage to secure payment of the loan to the seller.
a. Patio de Retro Sale
b. Deed of Sale with Mortgage
c. Davion En Pago
d. Sale with Assumption of Mortgage
1082. Refers to the sale where portion of the purchase price is paid in cash and the balance is paid by the buyer through an assumption of an existing
mortgage of the subject property.
a. Pacto de Retro Sale
b. Deed of Sale with Mortgage
c. Dacion En Pago
d. Sale with Assumption of Mortgage
1083. It is a type of mortgage which permits barrowing additional funds at a later date against the same collateral.
a. Blanket Mortgage
b. Open Ended Mortgage
c. Anthecresis
d. Real Estate Mortgages
1084. Refers to the sale where the seller has the right to repurchase the property being sold.
a. Pacto de Retro Sale
b. Deed of Sale With Mortgage
c. Dacion En Pago
d. Sale with Assumption of Mortgage
1085. It is an agreement where the consideration of the contract is deposited with a third party who is authorized to release said consideration or
payment to the seller after he/she has complied or completed with certain conditions.
a. Escrow
b. Escheat
c. Down payment
 d. Contract To Sell
1086. A kind of sale whereby payment of the contract is made at some future date and that the ownership of the property shall be retained by the
owner until full payment is made.
a. Deed of Absolute Sale
b. Contract of sale
c. Down payment
d. Contract to Sell
1087. Refers to a notice that the property has a pending litigation.
a. Lis Pendens
b. Adverse Claim
c. Court Case
d. Petition to Quiet Title
1088. Is a court action to remove cloud on the title.
a. Lis Pendens
b. Adverse Claim
c. Court Case
d. Petition to Quiet Title
1089. An adverse claim lapses after how many days from annotation in the certificate of land title.
a. 100 days
b. 30 days
c. 60 days
d. 120 days
1090. It is a list of all realty property located within the territorial of the local government unit concerned, prepared and maintained by the
Provincial/City/Municipal Assessor.
a. Registry of Deeds
b. Registry of the Property
c. Provincial Registry
d. Municipal Registry
1091. An annotation on the title which serves as a notice that the property is being held in reserve for whatever judgement may be rendered against
the owner.
a. Writ of Preliminary Attachment
b. Deficiency Judgement
c. Adverse Claim
d. Notice of Lis Pendens
1092. A judgement for the mortgage to pay the balance of an obligation if the proceeds of the foreclosure sale are not sufficient to cover the mortgage
obligation.
a. Writ of Preliminary Attachment
b. Deficiency Judgement
c. Adverse Claim
d. Notice of Lis Pendens
1093. The regulation of standards in BP 220:
a. Economic and Socialized Housing
b. Economic Housing Only
c. Open and Medium Cost Housing
d. All type of housing classification
1094. In mixed used condominium project, the master deed may be amended by a simple majority vote of unit owners. Majority is based on:
a. number of condominium units
b. total area of ownership
c. floor area of ownership
d. only one unit to be considered in voting
1095. A law that is no longer effective after August 16, 1976 by virtue of P.D. 982 that disallowed the use of Spanish titles for titling and registration:
a. Spanish Registration Law
b. Spanish Mortgage Law
c. Spanish Registration Act
d. Spanish Mortgage Act
1096. It is the first Registration of land whereby an Original Certificate of Titles is entered in the Registry of Property.
a. Original Registration
b. Original Certificate of Title
c. Subsequent Registration
d. Transfer Certificate of Title
1097. A kind of land registration whereby the act is instituted by the applicant under the provision of Act 496 or P.D. 1529.
a. Voluntary
b. Compulsory
c. Judicial
d. Administrative
1098. A kind of registration whereby the acts are done through the courts:
a. Voluntary
b. Compulsory
c. Judicial
d. Administrative
1099. The designation of the Register of Deeds has been changed to:
a. Registrar of Land Titles and Deeds
b. Register of Land Titles and Deeds
c. Registrar of Deeds
d. Registrar of land Titles
1100. It is one whereby the estate has a limited duration on the life of the property owner or the lives of the designated persons.
a. Life Estate
b. Homestead Estate
c. Life Insurance
 d. none of the above
1101. For Residential and Commercial Condominium Projects, the minimum building parking slot requirement shall be:
a. one for every 4 studio units
b. based on the National Building Code of the Philippines
c. 1 storey of the building is equal to 6 parking slots
d. 1 parking slot per 1 condominium unit

R. IV 1 REB Mock Board Exam PART-I: General /Fundamentals (1 hr and 20 minutes)

1102. PAPRB stands ________________.

a. Philippine Association of Profession Regulation Boards
b. Philippine Association of Professional Regulatory Bonds
c. Philippine Association of Professional Regulatory Boards
d. Philippine Association of Professional Regulation
e. Boards
1103. PhilRES is the accredited AIPO of PRC-PRBRES. What stands for_________?
a. Philippine Institute of Real Estate Service
b. Philippine Institute of Real Estate Service Professional
c. Philippine Institute of REAL ESTATE BROKER, APPRAISERS and CONSULTANTS
d. Philippine Institute of Real Estate Securities
1104. Who is the present Chairperson of PRBRES?
a. Pilar Torres-Banaag
b. Ofelia C. Binag
c. Rafael M. Fajardo
d. Jose Arnold M. Tan
1105. What do you call the additional paid tax on Real estate tax property that is allocated for Local School Boards?
a. Special Education Fund Tax
b. Capital Gains Tax
c. Documentary Stamp Tax
d. Idle Tax
1106. As to distribution of the proceeds of Real Estate Tax Property. In case of province which shall accrue 35%, municipal 40%, and barangay is
____?
a. 35%
b. 25%
c. 30%
d. 40%
1107. The process of acquiring private property for public use is called?
a. Condemnation
b. Eminent Domain
c. Escheat
d. Police Power
1108. The tax imposed on profit presumed have been realized on the sale or disposition of lands and/or buildings.
a. Estate Tax
b. Capital Gains Tax
c. Inheritance Tax
d. Realty Tax
1109. An item that was once personal property that has become part of the real estate is referred to as
a. Real property
b. Real estate
c. Fixture
d. Equipment
1110. The right of government to regulate land use for the public good.
a. Escheat
b. Eminent domain
c. Police power
d. Taxation
1111. Acquisition of private land by the government for public use could be undertaken thru the following procedures, except
a. Negotiated sale or purchase barter
b. Condemnation
c. Exchange or
d. Foreclosure
1112. Land is unique because
a. No two parcels have the same owners .
b. No two parcels have the same features
c. No two parcels have the same soil composition
d. No two parcels can occupy the same space on the face of the earth
1113. The term leasehold estate refers to which of the following rights or responsibilities?
a. The rights of the owner of a property that has been leased
b. The rights of the tenant who leased property
c. The rights of the owner of a property that is not currently leased
d. The responsibility of a trustee who holds the lease
1114. A fee simple interest in a property is an example of:
a. Real Property
b. Real Estate
c. Personal property
d. Emblement
1115. By this contract, the creditor acquires the right to receive the fruits of an immovable of the debtor, with the obligation to apply them to the
payment of interest, if any, and then to the principal of the debt
a. Mortgage
 b. Hypothecation
c. Pledge
d. Antichresis
1116. Annotation of Section 4, Rule 74 of the Rules of Court on the title to the property of a deceased person, a surviving spouse and children,
provides that the property shall be subject to the rights of three of the following four. Who among the four does not have the right ot the subject
property?
a. Heirs
b. Any persons who might have been unduly deprived of his participation in the estate of the deceased
c. The parents of the deceased
d. Creditors
1117. An act strengthening and amending some provision of the Comprehensive Agrarian Reform Law
a. RA 6657
b. RA 9700
c. RA 9225
d. RA 6552
1118. Public and private agricultural land is excluded from CARP when it has a slope or gradient of:
a. Nine percentage
b. Twelve percentage
c. Eighteen Percentage
d. Fifteen percentage
1119. A limitation on the use of real estate through a written legal document that is usually recorded.
a. Mortgage
b. Deed restriction
c. Lien
d. Chattel
1120. A charge against a property in which the property is security for payment of a debt is called a
a. lien.
b. mortgage.
c. escheat.
d. restriction.
1121. A loan or promissory note that is secured by the real estate.
a. Lease
b. Mortgage
c. Lien
d. Chattel
1122. A trespass on another’s land is a from of a / an
a. Easement
b. Encroachment
c. Mortgage
d. Restriction
1123. A government restriction imposed on ownership of real estate that actually means going to the state.
a. Eminent domain
b. Police power
c. Escheat
d. Taxation
1124. The real property tax rate in the province does not exceed ____________________________ and in the city or municipality in Metro Manila
_____________________________________ .
a. 2% of the assessed value; 1% of the assessed value
b. 1% of the assessed value; 2% of the assessed value
c. 1% of the market value; 1% of the assessed value
d. 2% of the market value; 2% of the assessed value
1125. The annual property tax on a parcel of land is P5,000. The taxing authority assessed the land at 50% of the market value. If the tax rate is 2% of
the assessed value, what is the estimated market value of the land?
a. P500,000
b. P 300,000
c. 1,000,000
d. 200,000
5000/2%/50%
1126. Beginning January 2021, Sellers of lots are exempted from VAT if the value of the property is not more than _______ and ________ if there is
house in the said property
a. P1.5 million; P2.5 million
b. not more than P 2 Million
c. P2 million; P3 million
d. P3 million; P5 million
1127. The real estate practitioner should ensure the highest and best use of the land and the equitable distribution of the ownership, irrespective of
political beliefs, cultural background, sect, religion, or class. This rule of conduct and practice is under:
a. Relation to the Government
b. Relation to the Public
c. Relation to the Client
d. Relation to Fellow Practitioners
1128. How many members of the Professional Regulatory Board shall represent the government assessors and appraisers who are in active
government service?
a. Three (3)
b. Two(2)
c. Five (5)
d. One (1)
1129. In order that an examinee maybe deemed successfully passed the examination he must have obtained an average of at least seventy-five
percent (75%) in all subjects, with no rating below __________ in any subject.
a. 75%
 b. 60%
c. 65%
d. 50%
1130. Certificate of Registration shall be issued to the licensed real estate service practitioner and shall be assigned to each of them. The professional
Identification Card shall be valid:
a. Every three years and valid until December 31 of every third year
b. Every three years and valid until the licensee’s birthdate
c. Every three years
d. Issued a new one after three years
1131. Every applicant seeking to be registered and licensed as a real estate service practitioner shall undergo an examination to be given by the
Board as provided for in R.A. No. 9646, except:
a. Real estate dealer
b. Real estate broker
c. Real estate assessor
d. Real Estate Salesperson
1132. All of the following areas of regulation affect appraisers except
a. PRC
b. LGU Planning Office
c. DTI
d. Register of Deeds
1133. When is the date of signing of the Real Estate Service Act
a. 29 June 2009
b. 29 July 2009
c. 29 July 2010
d. 29 July 2011
1134. Section 6 of Article I - Declaration of Principles of the National Code of Ethics for Real Estate Service Practitioners clearly states the Golden
Rule which says:
a. “Do not do unto others what you want others do to you"
b. "Do unto others as you like them to treat you"
c. "Do unto others as you want them to be treated”
d. "Do unto others as you would have them do unto you"
1135. The real estate practitioner should not offer or agree to pay, to split or rebate any commission, fee, or valuable consideration, directly or
indirectly, with any person who is not a duly licensed practitioner. This rule of conduct and practice is under:
a. Relation to Fellow Practitioners
b. Relation to the Government
c. Relation to the Public
d. Relation to the Client
1136. The Professional Board for Real Estate Service is composed of :
a. A Chairman and three (3) commissioners
b. A Chairman and four (4) commissioners
c. A Chairman and five (5) commissioners
d. A Chairman and six (6) commissioners
1137. A stipulation authorizing mortgagee (creditor, lender) to appropriate the property as his own if the mortgagor fails to pay the principal obligation
at the stipulated time is called:
a. Pacto Commissorium
b. Pacto de Non-Alienado
c. Pactum Commissorium
d. Tacita Reconducta
1138. The owner of a house and lot agreed to lease his house to the lessee who paid the deposit and the initial month’s rent; however, the agreement
was not written in the contract of lease. The lease is
a. Inexistent
b. Unenforceable
c. Valid
d. Void
1139. Under the Statute of Frauds (Article 1403 of the Civil Code), the following documents must be in writing to be enforceable, except:
a. Sale of goods worth more than P500
b. Promise to answer for the debt or default of another
c. Sale of real property
d. Lease contract of not more than one year
1140. X, owner of a 10-door apartment, rented a unit to Y for a period of one year. Under the law on lease, Y, without consent of X, may perform any
of the following acts, except:
a. Sublease the unit
b. Assign his rights
c. Suspend payment if X fails to make the necessary repairs
d. Demand payment reimbursement constituting one half the value of the useful improvement introduced in good faith.
1141. One broker should have
a. at least 20 RES
a. at most 20 RES
b. minimum 20 RES
c. less than 20
1142. REIT assets must be fully validated at least ______ by an independent appraiser/valuer duly accredited by the SEC:
a. Once a year
b. Once every two years
c. Once every three years
d. Once every five years
1143. REIT must meet the following requirements, EXCEPT:
a. Must be listed in the Philippine Stock Exchange
b. Must have minimum capitalization of P500 million
c. Must have at least 1,000 public shareholders
 d. Must invest at least 75% of its assets in income-generating real estate.
1144. REIT is entitled to the following tax benefits EXCEPT:
a. Exempt from minimum corporate income tax of 2% of gross income
b. 50% of applicable DST rates on sale/transfer of real property to REIT
c. VAT-exempt on any disposal of real property or rental
d. VAT-exempt on sale/exchange/transfer of securities
1145. The REIT that derives its income principal from income-generating properties is called:
a. Hybrid REIT
b. Mortgage REIT
c. Equity REIT
d. Finance REIT
1146. Is a document granting authority to any registered owner / developer to sell lots or units within an approved subdivision or condominium project
and providing the duties and obligations of said owner/developer.
a. HLURB License To Sell
b. Subdivision Plan
c. Development Permit
d. Environmental Clearance
1147. Urban Development and Housing Act (UDHA) of 1992.
a. R.A. 7279
b. R.A. 7927
c. R.A. 9279
d. R.A. 7972
1148. As provided by RA # 7279 a developer of a subdivision Project is required to develop at least 20% of the project for:
a. Parks & open space
b. Low cost housing
c. socialized housing
d. economic housing
1149. R.A. 7160 prescribes that for real property taxation, the market value should be based on:
a. Prevailing price in the area
b. Value established by the Assessor
c. Value determined by a licensed appraiser
d. Value approved by the Sanggunian concerned
1150. It is an annual levy on real estate equivalent to 1% of assessed value which shall be in addition to the basic real estate tax.
a. Socialized Housing Tax
b. Idle Land tax
c. Ad valorem tax
d. Special Education Fund tax
1151. The idle land tax for idle land located in the province shall be at the rate:
a. Not exceeding 2% of the assessed value
b. Not exceeding 4% of the assessed value
c. Not exceeding 6% of the assessed value
d. Not exceeding 5% of the assessed value
1152. The annual property tax on a parcel of land you are appraising is P7,500.00. The taxing authority assesses land at 50 percent of market value.
If the tax rate is 2% of the assessed value, what is the estimated market value of the land?
a. P250,000
b. P350,000
c. P750,000
d. 550,000
7500/2%/50%
1153. In 2011, Quezon City became the first city in the Philippines to implement a socialized housing tax under R.A. 7279. How much maximum
additional tax on the assessed value of all lands in urban areas in excess of P50,000 are LGUs allowed to impose for socialized housing
purposes?
a. 0.25%
b. 0.50%
c. 0.75%
d. 1.00%
1154. For a seller to be considered as habitually engaged in real estate business, he must have consummated at least taxable real estate
transactions during the preceding year:
a. Five
b. Six
c. Eight
d. Ten
1155. The exemption on the payment of the capital gains tax on the sale of a principal residence by the individual seller who will utilize the proceeds
to purchase a new residence maybe availed only :
a. Thrice every 20 years
b. Twice every 10 years
c. Once every 10 years
d. Once every 5 years
1156. In taxation, the basis for the computation of the capital gains tax on the sale of a house and lot, shall be the following whichever is higher,
except:
a. Appraised value
b. Zonal value
c. Selling price of the sale
d. Assessor’s value
1157. The maximum assessment level of a condominium residential building is:
a. 40%
b. 50%
c. 60%
d. 80%
1158. Under RA 7160, the share of a barangay in a province in the proceeds of real estate taxes is:
a. 20%
b. 25%
c. 30%
d. 35%
1159. Under RA 7160, the share of a municipality in Metro Manila in the proceeds of real estate taxes is:
a. 30%
b. 35%
c. 40%
d. 45%
1160. Which of the following is not exempted from real estate taxes:
a. Electric cooperative
b. Multi-purpose cooperative registered under RA 6938
c. Public cemetery
d. Private non-sectarian school
1161. Under the Assessment Calendar, the submission of the Schedule of Fair Market Values to the Sanggunian concerned & conduct of public
hearings should be done not later than October 30 of the:
a. First year
b. Second year
c. Third year
d. Fourth year
1162. What is the senate bill number of RESA before it became Republic Act?
a. SN 2963
b. SN 3514
c. SN 3654
d. SN 2962
1163. Who is the chairman of PRC?
a. Jose Y. Cueto Jr.
b. Yolanda D. Reyes
c. Teofilo S. Pilando Jr.
d. Ofelia C. Binag
1164. Professional week is held in what week in October?
a. 2nd
b. 3rd
c. 4th
d. 1st
1165. After the RESA (2019), the code of ethics for Real Estate Practitioners is referred to as:
a. Code of Ethics for Real Estate Service Practitioners
b. Code of Responsibilities for Real Estate Service Practitioners
c. Code of Ethics and Responsibilities for Real Estate service Practitioners
d. National Code of Ethics and Responsibilities for Real Estate Service Practitioners
1166. The province or city may give a discount on the annual tax due at the not exceeding:
a. 10%
b. 5%
c. 20%
d. 15%
1167. In his dry seal, letterhead, advertisement or announcements, the real estate broker must indicate his:
a. license number
b. contact number
c. office address
d. personal circumstances
1168. The BIR examiner, in case of the sale of a person of a house and lot considered as ordinary asset, must first determine the following before the
examiner will be able to know the rate of tax to be imposed;
a. whether the person is habitually engaged in real estate business or not
b. whether the property is conjugal or community property
c. the selling price, zonal value or assessor’s value whichever is higher
d. whether the house and lot is new or old
1169. Among the listed land classifications, which is devoted principally for activities as capital investment?
a. agricultural
b. Residential
c. commercial
d. Industrial
1170. Being in real estate service practice, it is provided in the code of ethics that real estate broker should see to it that all agreements, terms and
conditions and obligations in real estate sales transaction is:
a. in proper legal form
b. be registered with register of deeds
c. in writing and duly signed by all parties
d. signed by the real estate broker
1171. Referred to as the “Citizenship Retention and Re-Acquisition Act of 2003” allowing dual citizens.
a. RA 6552
b. RA 9252
c. RA 9225
d. RA 9255
1172. The property relations of married couples are provided under the Family Code which became effective on:
a. August 1, 1988
b. August 3, 1988
c. August 8, 1988
d. August 1, 1987
1173. Filipino citizens can acquire by patent agricultural lands of the public domain not exceeding:
 a. Ten hectares
b. Twelve hectares
c. Five Hectares
d. three Hectares
1174. Legitime is _____________.
a. compulsory heirs
b. mother and father of the deceased including wife/husband and siblings
c. Illegitimate Children
d. all heirs
1175. Under the LGC, the appraisal of the FMV of the real property shall be based on:
a. current FMV
b. declaration of lot owner
c. BIR Zonal Value
d. Actual Use
1176. The maximum withholding tax on the commission of a real estate broker that may be deducted is:
a. 6%
b. 15%
c. 10%
d. 32%
1177. Angelica, a Filipina married a French citizen last June 2020 and would like to buy a parcel of land in Caloocan City. She may acquire with an
area not to exceed
a. 1 hectare
b. 5,000sqms
c. No limit
d. 3 hectares
1178. A real assessment of Real property may be made due to the following grounds, except:
a. Any great and sudden inflation or deflation of real property values
b. Gross illegality of the assessment
c. Change of Owner of the property
d. A partial or total destruction of Real property
1179. The wife may question the sale of the house and lot if it is required that her consent be obtained within a period of how many years form the
date of the contract
a. 10 years
b. 5 years
c. 2 years
d. 1 year
1180. Unpaid real property tax is subject to 2% per month interest, up to a maximum period of
a. 12 months
b. 24 months
c. 36 months
d. until paid
1181. An instalment sale is where the initial payment is:
a. 30% of the selling price
b. 35% of the selling price
c. 25% of the selling price
d. 45% of the selling price
1182. In certain real estate, the purchase price of a 1.5 hectare land is P25,000 per hectare as indicated in the Deed of Sale; the unit value per
Assessor’s office is P320 per sqm. The zonal value is P550sqm. What is the CGT to be paid to the BIR?
a. 495,000
b. 288,000
c. 825,000
d. 335,000
Note: Whichever is higher
1183. Under the Foreign Investments Act of 1991, a former natural born Filipino who has become an Australian citizen may not acquire land for the
following purpose.
a. Lease out the land
b. Agriculture purposes
c. Buy and Sell business
d. Put up a plant
e. Note: R.A. 8179
1184. Refers to the actual residence of the decedent and his family at the time of death.
a. conjugal Home
b. family home
c. family house
d. family residence
1185. Who is the first national president of PhilRES ,the accredited AIPO of PRC - PRBRES?
a. Rodolfo Valencia
b. Ariel Martinez
c. Pilar Banaag
d. Rodolfo Vasquez
1186. In what month where most dollars are deposited in the Philippines?
a. December
b. March
c. June
d. April
1187. Under Rule 4, Sec 27, the following acts constitute the practice of real estate service except:
a. Real Estate Brokerage
b. Real Estate Appraisal
c. Real Estate Management
 d. Real Estate Consultancy
1188. MACEDA Law is what RA#?
a. RA 6552
b. RA 6655
c. RA 7655
d. RA 6635
1189. Maceda Law is also known as __________?
a. Realty Installment Buyer Protective Law
b. Realty Installment Buyer Protection Law
c. Realty Installment Buyers Protective Decree
d. Realty Installment Seller and Buyer Proctection Law
Note: Realty Installment Buyer Protection Act.
1190. Capital property constitutes the property of ___________.
a. husband
b. wife
c. husband and wife
d. parents
1191. What is the executive order number of Family Code of the Philippines?
a. EO 209
b. EO 210
c. EO 208
d. EO 202
1192. An Act Authorizing the issuance of free patents to residential lands:
a. RA 10023
b. RA 10025
c. RA 10250
d. RA 9900
1193. Anti-Red tape act of 2007 is
a. RA 9194
b. RA 9225
c. RA 9485
d. RA 9700
1194. 20,000 is the minimum amount surety bond for real estate broker and real estate appraiser who are in private practice, how about government
appraiser?
a. employee in government service shall not require to get a bond instead a certificate of employment notarized
b. an employee of the government also have surety bond in the amount of 20,000
c. no surety bond required but required to get a bond for SEC/BSP
d. only existing appraisers or assessors are not required to get a bond.
1195. Alyssa sold her residence to buy a bigger house. She must buy her new residence within a period of
a. 18 months
b. 30 days from the date of notarization of sale
c. 18 calendar days
d. 12 months
1196. The real estate tax on the house and lot owned by you may be paid without penalty interest in
a. semi annually
b. 4 equal quarterly
c. 4 payments any date
d. monthly payments
1197. The color of service of Real Estate Service profession is
a. Blue
b. Red
c. Yellow
d. Green
1198. Represent agricultural produce in the logo of PRBRES?
a. Land and trees
b. Land and fruits
c. Trees only
d. Trees and the fruits
1199. When Real Estate Service practitioners resigned from the company how many days where the company should inform the PRC-PRBRES?
a. 15 working days
b. 15 days
c. 30 days
d. 20 working days
1200. Includes bundle of rights, interest and benefits related to the ownership of real estate.
a. Real Estate
b. Real Estate property
c. Fee simple
d. Freehold Estate
1201. One of the powers of the PRBRES are, except:
a. Conduct licensure examinations
b. Assess and fix rate of reasonable regulatory fees
c. adopts a national code of ethics and responsibilities issued by different real estate organizations
d. administer oaths and affirmations
1202. In the submission of report of PRBRES to PRC, what is the term?
a. Semi-Annually
b. Annually
c. Submit only if required by the PRC
d. land use and development planning
S. REAL ESTATE BROKERAGE PRACTICE

1203. The following act is not considered a function of a real estate broker
a. To sell a house and lot of the owner
b. To assist the buyer in obtaining a housing loan
c. To draft the legal contract to sell
d. To find a developer for joint venture
1204. The law that governs the relationship between the real estate broker and owner in a lease transaction is
a. Law on Brokerage
b. Law on Agency
c. Law on Lease
d. Law on Real Estate Service
1205. One of the most important things for a real estate broker to be entitled to a professional fee is
a. He must be the procuring cause
b. He must find a cash buyer
c. He must be registered with HLURB
d. He must post a bond required by the owner
1206. If a real estate broker would want to entitled to professional fee even if the owner is the one who was able to find a buyer, he must get the
following authority to sell
a. Open Listing
b. Exclusive Right to Sell
c. Exclusive Agency
d. Non-exclusive authority
1207. A main difference between the real estate broker versus the real estate dealer is that the broker earns professional fee, while the real estate
dealer earns
a. Profit
b. A commission
c. Percentage of the selling price
d. Over riding commission
1208. In real estate brokerage under a contract of agency, the owner is the principal while the real estate broker is referred to as
a. Principal
b. Agent
c. Sales agent
d. Fiduciary agent
1209. The following data is not really necessary in the authority to sell given to a real estate broker for the sale of a vacant lot
a. Shape of the Lot
b. Area in sq.m of lot
c. Lot No.
d. TCT NO.
1210. An arrangement where the real estate broker will get the professional fee only beyond the minimum amount that the owner would want to
receive is referred to as
a. Open Listing
b. Net percentage listing
c. Net listing
d. Minimum Net Listing
1211. The following is not really an essential element of real estate brokerage
a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy
1212. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee
a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer
1213. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of authority but was
bought already after, the broker will still be entitled to professional fee, and is referred to as
a. Safety Holdover Clause
b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause
1214. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground, includes all the rights, interest
and benefits related to the ownership of real estate
a. Real estate
b. Real estate rights
c. Real property
d. Real estate ownership
1215. To engage in real brokerage in the field of leasing warehouses, the person must be
a. Registered with HLURB
b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB
1216. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is
a. To hire real estate salespersons
b. To secure property listings
c. To go tripping with clients
d. To put up an office
1217. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency
a. Purchase agency
 b. Sales agency
c. Lease agency
d. Exchange agency
1218. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure borrowers
a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency
1219. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a residential
subdivision
a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development
1220. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared with others is
called
a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing
1221. Which of the following is not a part of the steps in real estate brokerage?
a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property
1222. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be considered
a. Separate from the purchase price
b. Forming part of the purchase price
c. A reservation amounts
d. Option money
1223. An industrial land was sold by two brokers at P12,000,000.00 with 3% professional fee. The brokers agreed that the listing broker shall get 45%
of the commission. What will be the share of the listing broker?
a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00
12M × 3% = 360K × 45% =
1224. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a party in a sale transaction
a. Earnest money agreement
b. Contract to sell
c. Option contract
d. Escrow agreement
1225. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as
a. Listing
b. Lease authority
c. Power of attorney to lease
d. Lessor’s agreement to lease
1226. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another option is
a. Retention money until seller vacates
b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price
1227. In a sale of raw land, the following is not part of the negotiations between the seller and the buyer
a. Price and terms
b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses
1228. The buyer backed out of the sale after paying the earnest money to the seller, in general, the earnest money in this case will be
a. Refunded to the buyer
b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
1229. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to
a. Tripping with client
b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents
1230. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s commission. What
price should the property be sold?
a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00
4.5M/100-5%-6%
1231. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission and doc.
Stamps tax for his account. How much should the broker sell it?
a. P 3,470,031.00
b. P 2,762,500.00
c. P 3,125,000.00
 d. P 3,491,620.00
2.5M/100-25%-3%
1232. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% of the 5% is given to Mr. B as referral fee
a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00
SOLUTION:
7,500,000.00 × 5% = 375,000
375,000 × 5% = 18,750
375,000 – 18,750 = 356,250
1233. A real estate broker may engage salespersons to assist in the brokerage practice provided that they must be at most
a. 20 real estate salespersons
b. 20 accredited real estate salespersons
c. 20 licensed real estate salespersons
d. 20 registered real estate salespersons
1234. It refers to the effect that is made by one aspect of the economy with the other economic activities in the country
a. Economic effect
b. Multiplier effect
c. Ripple effect
d. Economic activity effect
1235. It is said that real estate economics is the application of economic techniques to real estate markets where it tries to describe, explain, and
predict patterns of the following, except
a. Demand
b. Needs
c. Price
d. Supply
1236. It is a result of the interplay and relationship between supply and demand in a particular market like real estate
a. Financing
b. Scarcity
c. Price
d. Net value of property
1237. What is the formula used to compute the monthly amortization on a diminishing balance method for instalment sales of lots
a. Downpayment multiplied by interest rate
b. Amount Financed multiplied by interest rate
c. Amount financed multiplied by amortization factor
d. Principal amount multiplied by monthly interest rate
1238. In a subdivision, there were numerous lots being sold by the owners but only a few buyers were buying. This is referred to as what kind of
market
a. Seller’s market
b. Open market
c. Buyer’s market
d. Down market
1239. In computing the amortization factor on the financing of real estate sales, the factor will be based on the following
a. Capacity of the barrower
b. No. Of years to pay
c. Interest rate and term of payment
d. Interest rate
1240. In obtaining a housing loan from the bank, it is required that
a. The buyer must occupy the house
b. The buyer cannot sell the house until fully paid
c. The house purchased must be mortgaged to the bank
d. The house cannot be rented out
1241. The payment to be made monthly by a buyer of a lot on instalment is generally referred to as
a. Monthly amortization
b. Monthly payments
c. Financing payments
d. Amortization schedule
1242. One way of getting the amount to be financed by the buyer in the purchase of the lot is through the following
a. Total contract price minus the downpayment
b. Total contract price minus reservation
c. Total contract price minus monthly amortization
d. Total amortization payments to be made multiplied by number of payments
1243. If financing was made in the amount of 18% interest per annum, what would be the monthly interest rate to be applied on a 24 months payment
scheme
a. 1.0% per month
b. 1.5% per month
c. 2.0% per month
d. 0.75% per month
18% ÷ 12
1244. A payment scheme where the buyer of the condo unit pays the total price within a short period of time without interest is referred to as
a. Short term financing
b. Deferred cash payment
c. Discounted cash payment
d. Deferred financing scheme
1245. The down payment made by the buyer can be computed by using the following simple formula
a. Total contract price minus reservation deposit
b. Total contract price minus amount financed
c. Total contract price minus total amortization payments
 d. Total contract price minus buyer’s equity
1246. In a housing financing scheme based on diminishing balance, the interest in the payments.
a. Increases while the payment for principal decreases
b. Decreases while the payment of principal increases
c. Remain constant for the term of the loan
d. Remain constant but the principal decreases
1247. It is referred to as the amount of the property used as a basic for the maximum amount of loan that can be given, among others
a. Appraised value
b. Loan value
c. Collateral to loan ratio
d. Foreclosure value
1248. In a sale on instalment of really, after paying 5 years instalments, the buyer will make a lump sum payment at the end which is referred to as
a. Full payment
b. Balloon payment
c. Final payment
d. Last payment
1249. A movement in the supply of real estate housing versus the actual effective demand would affect the following
a. Purchasing power
b. Price
c. Effective demand
d. Production cost
1250. Aside from the value of the property, the bank will also determine the following to determine the loanable amount to the borrower
a. Appraised value
b. Zonal value
c. Capacity to pay
d. Interest rate
1251. It is a type of financing availed of by borrower in the meantime in the event his or her long term loan is not yet approved for the purchase of a
house in order to secure the purchase thereof
a. Bridge financing
b. Long term financing
c. Promissory note
d. Escrow arrangement
1252. A contract where the creditor acquires the title to receive the fruits of a property from the borrower to be applied to the payment of the interest
and thereafter to the principal amount
a. Usufruct
b. Antichresis
c. Pledge
d. Real estate mortgage
1253. The agency that provides the most housing loans and provident loans to the public is
a. Home development mutual fund
b. Government service and insurance system
c. Social security system
d. Home guaranty corporation
1254. It refers to the change in interest rate on agreed interval period of the loan between the lender and the borrower
a. Escalation rate
b. Repricing
c. Restructuring
d. Inflation
1255. It is the assurance given by a bank to the seller that he/she will be paid by the bank for the approved buyer’s loan under certain conditions.
a. Letter of assurance
b. Letter of guaranty
c. Letter of credit
d. Letter of approved loan
1256. In a contract of real estate mortgage , it is used to refer to the person or entity which lends money to the borrower for a housing loan
a. Lender
b. Mortgagee
c. Mortgagor
d. Financier
1257. It refers to the amount charged to the borrower for early payment of the principal over a loan which is still payable over several years
a. Unearned interest
b. Pretermination penalty
c. Loan penalty
d. Processing fee
1258. An arrangement made with the developer and the Pag-ibig fund to guarantee the payment of the monthly amortization by the borrower and
failure of which a certain period, the developer will buy back the contract to sell from Pag-ibig
a. CTS Buyback
b. Developer guaranty
c. Real estate mortgage
d. Pacto de recto
1259. Its real estate, if refers to the most reasonable price of land and shelter based on the needs/ financial capability of program beneficiaries under
RA 7279
a. Economic housing
b. Affordable cost
c. Socialized housing cost
d. Low cost
1260. They refer to the 244 areas in Metro Manila specifically described and identified in Proclamation 1967, and other sites later identifies and
proclaimed
a. Areas of land reform
b. Areas for priority development
c. Urban reform zones
d. Urban areas for priority development
1261. The rational approach of allocating available land resources as equitably as possible among competing user groups and for different functions
a. Land resource plan
b. Land use plan
c. Land identification and segregation plan
d. Zoning plan
1262. The acquisition of lots or varying ownership through purchase or expropriation for the purpose of planned and rational development and
socialized housing programs without individual property boundary restrictions
a. Land banking
b. Land assembly
c. Land acquisition
d. Land collection
1263. It refers to process of upgrading and rehabilitation of bighted and slum urban areas with a view of minimizing displacement of dwellers in said
areas.
a. On site development
b. Slum development
c. Slum upgrading
d. On site upgrading
1264. It refers to those whose only real property consists of residential lands not exceeding eight hundred meters (800 sq.m.) in other urban areas
a. Medium property owner
b. Small property owner
 c. Urban property owner
d. Rural property owner
1265. The acquisition of land at values based on existing use in advance of actual need to promote planned development and socialized housing
program
a. Land consolidation
b. Land use plan
c. Land banking
d. Land forecasting
1266. The process of land acquisition by exchanging land for another piece of land of equal value, or for shares of stock in a government or quasi-
government corporation, for the purpose of planned and rational development and provision for socialized housing
a. Land banking
b. Land acquisition
c. Land swapping
d. Land exchange
1267. The program of the NHA of upgrading and improving blighted squatter areas outside of Metro Manila pursuant of existing statutes and pertinent
executive issuances
a. Slum improvement program
b. Slum improvement and resettlement program
c. Slum resettlement and community program
d. Slum resettlement program
1268. If the land of a person is in an area other than highly urbanized cities, or in other urban areas, a small property owner is one whose only real
property consists of residential lands not exceeding
a. 600 square meters
b. 800 square meters
c. 1,000 square meters
d. 5,000 square meters
1269. Beneficiaries of this Act and to individuals or families residing in urban and urbanizable areas whose income or combined household income
falls within the poverty threshold as defined by the NEDA and who do not own housing facilities
a. Blighted families
b. Underprivileged and homeless citizens
c. Slum families
d. Families in areas for priority development
1270. Urban areas under RA 7279 refer to all cities regardless of their population density and to municipalities with a population density of at least
a. 500 persons per square kilometre
b. 1,000 persons per square kilometre
c. 1,500 persons per square kilometre
d. 5,000 persons per square kilometre
1271. Sites and lands which, display marked and great potential of becoming urban areas within the period of five (5) years
a. Potential urban areas
b. Future urban areas
c. Urbanizable areas
d. Identified urban areas
1272. The Urban and Development Housing Program does not cover the following
a. Areas for priority development
b. Lands in urbanizable areas
c. Resettlement sites
d. Sites used or set aside for parks, reserves for flora and fauna
1273. For planning purposes, the Housing and Urban Development Coordinating Council shall be furnished by each local government unit a copy of
its inventory which shall be updated every
a. 2 years
b. 3 years
c. 5 years
d. 10 years
1274. In acquisition of land, this shall be resorted to only when other modes of acquisition have been exhausted
a. Community mortgage
b. Expropriation
c. Land swapping
d. Negotiated purchased
1275. Should the beneficiary unlawfully sell, transfer, or otherwise dispose of his lot he shall also lose his right to the land, and shall be barred from
the benefits under this Act from date of violation for a period of
a. 5 years
b. 10 years
c. 15 years
d. 25 years
1276. To qualify for socialized housing program, a beneficiary must not be
a. A Filipino citizen
b. Underprivileged and homeless
c. Landless
d. Member of squatting syndicate
1277. For developers of proposed subdivision projects, it shall be required to develop an area for socialized housing equivalent of the total subdivision
area or total subdivision project at least
a. 10%
b. 15%
c. 20%
d. 30%
1278. Socialized housing or resettlement areas shall be provided by NHA or
a. HUDCC
b. Department of Housing
c. Local government unit
d. Private development
1279. This shall be implemented whenever possible in order to ensure minimum movement of occupants of blighted lands and slum areas
a. Temporary shelter
b. New resettlement
c. On-site development
d. ON-SITE RELOCATION
1280. Professional squatters or members of squatting syndicates shall be imposed the penalty of imprisonment of
a. 3 years
b. 5 years
c. 6 years
d. 10 years
1281. Eviction or demolition as a practice shall be discouraged. Eviction or demolition, however, may be allowed under the following situations but not
a. When persons or entities occupy danger areas such as esteros, railroad tracks
b. When there is a court order for eviction and demolition
c. When government infrastructure projects with available funding are about to be implemented
d. When the private owner needs the land
1282. In the execution of eviction or demolition orders involving underprivileged and homeless citizens, the following shall be mandatory, except
a. Execution of eviction or demolition only during regular office hours from Monday to Fridays
b. Execution of eviction or demolition only during good weather, unless the affected families consent otherwise
c. Adequate permanent relocation
d. Presence of local government officials or their representatives during eviction or demolition .
1283. Should relocation provided under RA 7279 not be possible within the said period, financial assistance in the amount equivalent to the prevailing
minimum daily wage multiplied
a. 30 days
b. 60 days
c. 90 days
d. 15 days
1284. In cases of eviction of demolition, relocation shall be undertaken by the local government unit concerned and the NHA with the assistance of
other government agencies from service of notice of final judgment by the court, within
a. 30 days
b. 45 days
c. 60 days
d. 90 days
1285. It is a mortgage financing program of the NHMFC which assists legally organized associations of underprivileged and homeless citizens to
purchase and develop a tract of land under the concept of community ownership
a. Community mortgage program
b. Community housing program
c. Socialized community housing
d. Community housing for underprivileged
1286. Beneficiaries of CMP shall not be evicted of their lands unless they have incurred arrearages in payments of amortizations for
 a. 2 months
b. 3 months
c. 120 days
d. 6 months
1287. To encourage greater participation, participants in the CMP shall be granted with the following privilege of exemption from
a. Percentage tax
b. Capital gains tax
c. Income tax
d. Real estate tax
1288. Under RA 7279, this government agency shall administer the Community Mortgage Program
a. Housing and Land Use Regulatory Board
b. Housing and Urban Development Coordinating Council
c. National Home Mortgage Finance Corporation
d. National Housing Authority
1289. With the constitution principle that the ownership and enjoyment of property’s social function and to raise funds, all local government units are
authorized to impose an additional real estate tax on land of
a. 1% of the assessed value
b. ½ of 1% of the assessed value
c. ¾ of 1% of the assessed value
d. 2% of the assessed value
1290. Any person who violates any provision of RA 7279 shall be imposed the penalty of imprisonment of not more than
a. 3 years
b. 5 years
c. 6 years
d. 12 years
1291. Under Section 18 of RA 7279, the following are covered for the 20% requirements for socialized housing
a. Residential subdivisions
b. Townhouse projects
c. Condominium project
d. Office condominium projects
1292. The following shall be responsible for the implementation of RA 7279 in their respective localities
a. HMDF
b. NHA
c. Local government units
d. Presidential Commission on Urban Poor
1293. Urban Land Reform was declared under the law for the whole Philippines, under
a. PD 1217
b. PD 1517
c. RA 7279
d. PD 957
1294. The government sector mandated to provide local housing needs for their homeless constituents is the
a. HLURB
b. NHA
c. Local government units
d. HUDCC
1295. A local city or municipal legislation which logically arranges, prescribes, defines and apportions a given political subdivision into specific land
uses
a. Land use plan
b. Zoning ordinance
c. Locational clearance
d. Zoning clearance
1296. Decisions of the local zoning boards may be appealed to
a. Regional Trial Court
b. HLURB
c. Court of appeals
d. Local board of assessment appeals
1297. The programs of NHA of upgrading and improving blighted areas pursuant to existing statutes and pertinent executive issuances
a. Areas for priority development
b. Socialized housing program
c. Slum improvement and resettlement program
d. Blighted areas improvement program
1298. To encourage greater private sector participation in socialized housing the following are tax exemption extended under RA 7279
a. Documentary stamp tax
b. Real estate taxes on the project
c. Capital gains tax on raw land used for the project
d. Professional taxes
1299. It is on official public document adopted by local government units as a guide to decision regarding the physical and socio-economic
development of the community
a. Land use plan
b. Town plan
c. Community plan
 d. Local government community plan
1300. The rational and deliberate allocation of land resources to different uses on the comprehensive and integrated plan for the area
a. Area usage plan
b. Town plan
c. Land use plan
d. Zoning plan
1301. The division of the community into function zones based on the recent and potential uses of properties for the purpose of regulating the use and
growth of properties
a. Planning
b. Town planning
c. Area allocation
d. Zoning
1302. It refers to the rational and judicious approach of allocating available land resources to different land using activities such as residential,
commercial, etc.
a. Land planning
b. Land use planning
c. Land development planning
d. land use and development planning
1303. The land use plans of various cities and municipalities shall be enacted through their respective
a. Governor or Mayor
b. Zoning ordinance
c. Executive orders
d. HLURB Resolutions
1304. A graphic presentation of the zone classifications, location, boundaries of the districts/zones duly established in the zoning ordinance
a. Zoning classification map
b. Town plan map
c. Zoning map
d. Land use map
1305. Under the comprehensive land use plan guide, any person, group or institution that has an interest in the development activity, program or
project is referred to as
a. Interest party
b. Participant
c. Constituent
d. Stakeholder
1306. It is a method of studying the effects of population growth and urban development on the ecological system, public facility systems and
environmental protection
a. IMPACT ANALYSIS
b. Carrying capacity analysis
c. Growth effects analysis
d. Population study
1307. The classification of R-1 in a zoning area means
a. High Density Residential Zone
b. Low Density Residential Zone
c. Medium Density Residential Zone
d. General Residential Zone
1308. A parcel of land was located in a C-2 classified area which means
a. Medium density commercial zone
b. Low density commercial zone
c. General commercial zone
d. High density commercial zone
1309. SHZ is used to classify land in a locality and means
a. Selected Housing Zone
b. Socialized Housing Zone
c. Segregated Housing Zone
d. Special Housing Zone
1310. It is defined as a contiguous grouping of 10 or more structures
a. High density area
b. Integrated area
c. Built-up area
d. CONTIGUOUS STRUCTURE AREA
1311. Refers to areas designated principally for trade, services and business purposes as used in the zoning ordinances
a. Commercial Area
b. Central Business District
c. Commercial Business District
d. Commercial Zone
1312. A use of an area in accordance with the zoning classification
a. Compliance use
b. Conforming use
c. Qualified use
d. Approved use
1313. Refers to a documents embodying specific proposal for guiding, regulation growth and development of a city or municipality
 a. Community land use plan
b. Comprehensive community development plan
c. Comprehensive land use plan
d. Comprehensive land usage and development plan
1314. It is primarily concerned with the use of the land and control of density of population through imposition of building heights, open space and
density provisions in a given area
a. Land use plan
b. Land restrictions
c. Zoning
d. Comprehensive land use plan
1315. A device, defined in the CLUP, which grants an owner relief from certain provisions of a zoning ordinance where because of the specific use
would result in a particular hardship upon the owner, as distinguished from mere inconvenience
a. Exemption
b. Certificate of non coverage
c. Exception
d. Exemption clearance
1316. The ration between the gross floor area of a building and the area of the lot on which it stands
a. Floor Area Ratio
b. Maximum Height Ratio
c. Lot Floor Area Ration
d. Height to Floor Ration
1317. It refers to uses or land activities with contrasting characteristics sited adjacent to each other, e.g. residential adjacent to industrial plants
a. Contracting uses
b. Contradicting uses
c. Non- congruent uses
d. Conflicting uses
1318. The Floor Area Ratio is computed through the following
a. Building Height divided by the Floor Area
b. Gross Floor Area of Building divided by area of the lot
c. Gross Floor Area divided by the height of the building
d. Floor Area of Units divided by the area of the lot
1319. As defined in the CLUP, uses or land activities capable of existing together harmoniously, e.g., residential use and parks and playgrounds
a. Congruent use
b. Compatible use
c. Co-classification use
d. Non contrasting use
1320. The Comprehensive Land Use Plan [CLUP] once enacted into a zoning ordinance is for the purpose of
a. Evaluation
b. Monitoring
c. Supervision
d. Enforcement
1321. The open space left between the building the lot lines is referred to as
a. Perimeter space
b. Property line easement
c. Setback
d. Easement
1322. A municipal/ city/government employee responsible for the implementation/ enforcement of the zoning ordinance in a community
a. Land Use Plan Engineer
b. City or Municipal Engineer
c. Zoning Administrator
d. Building Engineer
1323. In a Low Residential Density Zone no building or structure for human occupancy shall be higher than the grade line in the property or sidewalk
by more than
a. 10 meters
b. 12 meters
c. 15 meters
d. 21 meters
1324. A clearance issued to a project that is allowed under the provisions of the zoning ordinance
a. Building permit
b. Zoning clearance
c. Ordinance clearance
d. Location clearance
1325. It is the scientific study of the distribution and abundance of life and the interactions between organisms and their environment
a. Environment study
b. Ecology
c. Ecosystem
d. Environmentalism
1326. “Ecology” is often used more loosely in such terms in common parlance as a synonym for the word
a. Natural environment
b. Ecological balance
c. Green technology
 d. Ecosystem
1327. It is biological environment consisting of all the organisms living in a particular area , as well as all the nonliving, physical components of the
environment
a. Environment
b. Ecosystem
c. Environmental system
d. Bio-eco system
1328. It refers to the no living elements and physical components of the environment
a. Inert elements
b. Biotic
c. Abiotic
d. Non living elements
1329. The process that involves predicting and evaluating the likely impacts of a project
a. Impact study
b. Environmental study
c. Environmental impact assessment
d. Environmental evaluation assessment
1330. A certificate issued to which the proponent conforms with by signing the sworn undertaking of full responsibility over implementation of specified
measures which are necessary to comply with existing environmental regulations.
a. Environmental Compliance Conformity
b. Environmental Compliance Certificate
c. Affidavit of Compliance
d. Affidavit of environmental measure
1331. The certificate issued by the EMB certifying that, based on the submitted project description, the project is not covered by the EIS System and
is not required to secure an environmental compliance certificate or ECC
a. Certificate of ECC Exemption
b. Certificate of Non-Coverage
c. Certificate of Coverage Exemption
d. Certificate of ECC Clearance
1332. It refers to project belonging to project types declared thru Proclamation No. 2146 and Proclamation No. 803 which may pose significant
negative environmental impact at certain thresholds of operation regardless of location
a. Environmentally critical area
b. Environmental critical project
c. Environmental impact project
d. Environmentally negative project
1333. A general area declared thru Proclamation 2146 as environmentally sensitive such that significant environmental impacts are expected if certain
types/ thresholds of proposed projects are located, developed or implemented in it
a. Critical area for Development
b. Environmentally critical location
c. Environmentally critical area
d. Environmentally sensitive area
1334. The certificate issued by the DENR to a vehicle manufacturer certifying that a new vehicle meets the requirements under the law
a. Certificate of compliance
b. Certificate of passing
c. Certificate of conformity
d. Vehicle clearance certificate
1335. The geographic-based instrument for planners and decision makers which present an evaluation of the environment quality and carrying
capacity of an area
a. Eco-evaluation report
b. Eco-profile
c. Eco-based profile
d. Eco-quality profile
1336. The following is not considered as part of the solid waste reduction and avoidance scheme
a. Composting
b. Rep-use
c. Recycling
d. Treatment
1337. A disposal site at which solid waste is deposited in accordance with the minimum prescribed standards of site operation
a. Sanitary landfill
b. Open dump
c. Controlled dump
d. Open landfill
1338. It is the liquid produced when waste undergo decomposition, and when water percolate through solid undergoing decomposition
a. Sludge
b. Leachate
c. Leakage
d. Contaminated liquid
1339. A solid waste transfer station or sorting station, drop-off center, a composting facility, and a recycling facility
a. Junk shop
b. Materials recovery facility
c. Materials waste station
d. Solid waste dumping facility
1340. The waste disposal site designed, constructed, operated and maintained in a manner that exerts engineering control over significant potential
environment impact
a. Controlled dump site
b. Open dump
c. Materials waste facility
d. Sanitary landfill
1341. The solid waste container depending on its use shall be properly marked and for non-biodegradable wastes, the color code is
a. Blue
b. Yellow
c. Black
d. Green
1342. Freshwater means water containing dissolved common salt, sodium chloride containing less than
 a. 100 ppm
b. 200 ppm
c. 300 ppm
d. 500 PPM
1343. It is the subsurface water that occurs beneath a water table in soils and rocks, or in geological formulations
a. Surface water
b. Atmospheric water
c. GROUNDWATER
d. Water table
1344. It is the discharge from known sources which is passed into a body of water or land , or wastewater flowing out of a manufacturing plants,
industrial plant including domestic, commercial and recreational facilities
a. Sewage
b. Septage
c. Effluent
d. Water waste
1345. Refers to any solid, semi-solid or liquid waste or residue generated from a wastewater treatment plant, water supply treatment plant, or water
control pollution facility, or any other such waste having similar characteristics and effects
a. Sludge
b. Sewage
c. Wastewater
d. Septage
1346. This is a remedy available to non-govermental organization whose constitutional right to a balanced and healthful ecology is violated
a. Temporary restraining order
b. Writ of ecology
c. Writ of kalikasan
d. Writ of environment protection
1347. THE HIGHEST MAJOR SOURCE OF WATER POLLUTION IN THE COUNTRY IS DUE to
a. Industrial sources
b. Domestic waste
c. Livestock
d. Non-point sources
1348. It refers an estimate of value as of a particular point in time expressed in peso amount
a. Fair market value
b. Appraisal
c. Assessment
d. Value estimate
1349. The value of replaceable property tends to be indicated by the value of an equally desirable substitute property is called the principle of
a. Desire
b. Substitution
c. Replacement
d. Competition
1350. The principle that value is the worth of all present and future benefits arising from ownership and use of real property
a. Principle of value
b. Principle of highest return
c. Principle of income return
d. Principle of anticipation
1351. When a real property’s value depreciates in view of the decline in the utility of a feature of the property may be referred to as
a. Principles of utility
b. Functional obsolescence
c. Functional depreciation
d. Use depreciation
1352. The gross income multiplier may also be used to determine the value of the property and may be computed by dividing the selling price of a
comparable property by the
a. Annual gross income
b. Net income
c. Monthly income
d. Income after taxes
1353. A property has an annual gross income of P 1,400,000.00. In this market study market study, an investor found that a comparable property with
an annual gross of P1 Million was recently sold for P6 Million. Using GIM, what is the estimated value of the property?
a. P 7,200,000
b. P 8,400,000
c. P 9,600,000
d. P 12,000,000
6M/1M = 8×1.4M = 8.4M
1354. Under the RESA, a private real estate appraiser must pay the following bond to engage in practice
a. P 10,000
b. P 5,000
c. P 25,000
d. P 20,000
1355. It is considered an imaginary lined used by the geodetic engineer in plotting and locating a specific property
a. Straight line
b. Geodetic reference line
c. Tie line
d. Reference line
1356. A map which provides the general location of a real property including the surrounding landmarks and reference points is referred to as
a. Subdivision lot plan
b. Vicinity map
 c. Road map
d. Lot plan
1357. To determine the shape and dimension of the lot being purchased, the buyer must be able to obtain a copy of this plan
a. Subdivision plan
b. Survey plan
c. Vicinity plan
d. Lot plan
1358. It is the counting the number of steps in a required distance to determine the distance
a. Pacing
b. Step counting
c. Estimated foot distance
d. Step measurement
1359. It is the angle less than 90° measured from N or S (meridian) and referred to in plotting a lot as
a. Degrees
b. Bearing
c. Tie line
d. Compass degrees
1360. In plotting the technical description or lot, one degree is considered equivalent to
a. 60 seconds
b. 60 minutes
c. 100 seconds
d. 90 degrees
1361. A map that identifies flood-prone and landslide-prone areas in the country and shows which areas have high chances of soil erosion and which
areas are low-lying and flood-prone areas is referred to as a
a. Geohazard map
b. Hazard map
c. Phivolcs ecomap
d. Soil hazard map
1362. The map showing all the details that make up the surface features of the earth is generally called a
a. Surface map
b. Terrain map
c. Topographic map
d. Elevation map

T. EXAMINATION ON LEGAL ASPECTS OF SALE, LEASE, MORTGAGE AND FORECLOSURE

1363. A parcel of land was sold by a corporation to the buyer. In case of a corporation, it is required that the person who will sign the deed of absolute
sale must be
a. The President of the corporation
b. The corporate secretary
c. The Vice-President for Real Estate
d. The person authorized by a board resolution
e. The person authorized by the president
1364. It is a contract by virtue of which the creditor acquires the right to receive the fruits of an immovable of his debtor, with the obligation to apply
them to the payment of the interest, if owing thereafter to the principal of his credit.
a. Deed of sale
b. Antichresis
c. Deed of Mortgage
d. Contract to Sell
1365. A kind of mortgage which can be paid off even before its maturity.
a. Open Mortgage
b. Closed Mortgage
c. Voluntary Mortgage
d. Judicial Mortgage
1366. Marital consent is not required in deed of sale, except:
a. When the property relations of the spouses is one of absolute community
b. When the property relations of the spouses is one of absolute separation
c. When the property relations between the spouses is one of the conjugal partnership p and the property involved was acquired by onerous
title during the marriage at the expense of the common fund
d. A and b
e. A and c
1367. Essential Requisites of a contract of sale .
a. Cause or consideration
b. Object or subject matter
c. Consent or meeting of the minds of the buyer and seller
d. All of the above
e. None of the above
1368. The contract of lease shall be binding on third parties if the contract of lease is:
a. Duly notarized
b. Recorded in the Civil Registry
c. Recorded in the Registry of Property
d. In writing and duly notarized
e. In writing
1369. A term that refers to the reservation of right to buy which is separate from the purchase price.
a. Option
b. Earnest
c. Partial payment
 d. Escrow
e. Full down payment
1370. What is the Rule in case area is different from that stated in the contract and the sale is for a lump sum:
a. The vendee may accept the area included in the contract and reject
b. The vendee may accept the whole area, but must pay for the excess area at the contract
c. There shall be no increase or decrease of the price although there is a greater or lesser area that stated in the contract .
d. All of the above
e. None of the above
1371. Mr. Y sold a parcel of land to 2 or more buyers, who has a better right to the ownership of the property.
a. The buyer in good faith who first recorded sale in the Civil Registry
b. The buyer in bad faith who first recorded the sale in the registry of property
c. The buyer is good faith who can present the oldest title
d. The buyer in good faith who was first in possession
e. The buyer in good faith who first recorded sale in the registry of property .
1372. Mr. X sold the a parcel of land to Mr. Y without the written consent of his wife, Ms. Z. The property regime of the couple is absolute separation.
What is the effect of the sale:
a. Valid
b. Void
c. Unenforceable
d. Voidable
1373. Money given by the buyer to the seller, as a proof of the perfection of the contract. It is a partial payment of the purchase price and it must be
deducted therefrom:
a. Option money
b. Play money
c. Earnest money
d. None of the above
1374. One that is not mortgage in form but in substance.
a. Pacto de recto sales
b. Dacion en pago
c. Pactum de non-aliendo
d. Pactum commissorium
e. None of the above
1375. IN THE RIGHT OF REDEMPTION, WHEN CAN A MORTGAGOR REDEEM THE PROPERTY:
a. Within the term of 1 year from the date of foreclosure
b. Within the term of 1 year from the date of registration of the auction sale
c. Within the term of 1 year from the date of mortgage
d. None after the registration of the certificate of foreclosure sale with the register of Deeds which in no case shall be more than three (3)
months after foreclosure whichever is earlier.
1376. This is a contract of sale whereby the property being sold is presently mortgaged and the Vendee pays a certain amount to the vendor and
assumes as well the existing obligation which is secured by a mortgage over the property.
a. Deed of Sale with Mortgage
b. Deed of sale with assumption of mortgage
c. Deed of sale with the right to repurchase
d. Deed of mortgage
e. Deed of sale
1377. Mr. Rich sold his property to Mr. Investor without the consent of Mrs. Rich. The property regime of Mr. and Mrs. Rich is absolute community.
The sale to Mr. Investor is:
a. Valid
b. Unenforceable
c. Void
d. Rescissible
e. Voidable
1378. A stipulation which authorizes the mortgage to appropriate the property as his own upon failure of the debtor to fulfil the principal obligations.
This is void and of no legal effect:
a. Pactum de non aliendo
b. Pacto de retro
c. Dacion en pago
d. Pactum commissorium
e. PRE-TERMINATION CLAUSE
1379. The person who cannot acquire by purchase because of fiduciary relationship:
a. Guardians
b. Executor and administration
c. Agents
d. All of the above
e. None of the above
1380. The buyer bought a 200 sqm. Subdivision lot at P10,000.00/ sqm. He paid 20% down payment the balance payable in 120 equal amortizations
totalling P 1,152,000 inclusive of penalty interest of P 52,000.00. Compute for his cash surrender value under the Maceda Law.
a. 853,600
b. 750,000
c. 825,000
d. None of the above (1.5 M)
e. No cash surrender value
200 sq.m 10,0000 sq.m = 1.152M + 400k – 52k
1381. Assuming same values but he has paid 18 monthly amortization totalling to 354,978 monthly amortization inclusive of 54,978. What is the cash
surrender value under the Maceda law, if any.
a. 350,000
b. 377,489
 c. 354,978
d. None of the above
e. No cash surrender value
1382. The buyer bought a 200 sqm. Subdivision lot at P20,000.00 / sqm. He paid 20% down payment the balance payable in 180 equal amortization
at 22% interest per annum. He has paid 168 monthly amortization totalling P 3,872 inclusive of penalty interest of P72,000.00. Compute for his
cash surrender value the Maceda Law. What is the cash surrender value under the Maceda law, if any.
a. 4,370,000
b. 4,140,000
c. 3,872,000
d. 4,204,800
e. None of the above

U. REB EXAM.

1383. The technical description in the TCT of a real property can readily be plotted on a sheet by using the following date
a. Bearing and lot point (monuments)
b. Distance and lot points (monuments)
c. Bearing and tie line
d. BBLM and tie line
e. DISTANCE AND BEARING FROM LOT POINTS
1384. When the deceased registered owned is survived by a sole heir, the estate of the former maybe transferred to the latter with the execution of a
document known as
a. Deed of transfer
b. Extra-judicial settlement of estate
c. Will
d. Declaration of ownership
e. Affidavit of self-adjunction
1385. An appraisal principle which holds that the value of property tends to be enhanced by association with superior properties, is
a. Principle of infiltration
b. Principle of regression
c. Principle of progression
d. Principle of competition
1386. Jurisdiction for adjudication of buyer’s complaints against subdivision developers is with the
a. Bureau of trade regulation and consumer protection – DTI
b. Housing and urban development and coordinating council
c. National housing authority
d. Housing and land use regulatory board (DHSAC)
e. Regular courts
1387. The study of current supply and demand conditions in a particular area for a specific type of property is
a. Real estate appraising
b. Cash flow analysis
c. Absorption estimate’
d. MARKET ANALYSIS
e. Income projection
1388. A kind of survey where the shape of the earth is taken into account in computing results is known as
a. Plane survey
b. Geodetic survey
c. Topographic survey
d. Cadastral survey
e. Hydrographic survey
1389. The rational approach of allocating available land resources as equitably as possible among competing user group.
a. Land assembly
b. Land use plan
c. On-site development
d. Urban renewal
1390. The following is covered by the requirement of Certificate of registration and license to sell
a. Sale of a subdivision lot resulting from partition of land among co-owner and heirs;
b. Sale or transfer of subdivision lot by the original purchase thereof and any subsequent sale of the same lot;
c. Sale of subdivision lot by a real estate developer
d. Sale of subdivision lot or a condominium unit for the account of a mortgages in the ordinary course of business when necessary to
liquidate a bonafide debt.
1391. REGISTRATION of real estate instrument can be given due course without the presentation of the owner’s duplicate certificate of title when the
document is
a. NOTICE OF ADVERSE CLAIM
b. Notice of lis pendens
c. Writ of attachment
d. Deed of absolute sale
1392. Special power of attorney are necessary in the following cases, except
a. TO PERFORM ACTS OF ADMINISTRATION
b. To lease any real property for more than a year
c. To convey real rights on immovable property
d. To cancel any obligation gratuitously
1393. Which of the following government agencies is in charge of the overall strategies for the country’s National Housing Program
a. National housing authority
b. Housing and land use regulatory board
c. Housing and urban development coordinating council
d. Land registration authority
1394. The ratio that expresses the relation between gross income and sales price of a property is
a. Recapture rate
b. Effective gross income
c. Capitalization
d. Gross income multiplier
e. Return on asset
1395. Unless extended for a justifiable cause, the period for development completion of a subdivision project from issuance of license to sell is:
a. Six months
b. Twelve months
c. Eighteen months
d. As approved by HLURB
e. Twenty-four months
1396. It refers to the acquisition of land at values base d on existing use in advance of actual need to promote planned development and socialized
housing
a. Land use
b. Land assembly
c. Land consolidation
d. Land banking
1397. The following are modes of acquiring lands for purposes of Urban Development and Housing Act, except
a. Community mortgage
b. Joint venture agreement
c. Negotiated purchase
d. Land swapping
e. Foreclosure
1398. THE FOLLOWING ARE DETERMINANTS OF VALUE IN APPRAISAL OF REALTY, EXCEPT:
a. Contribution
b. Demand
c. Purchasing value
d. Scarcity
e. Utility
1399. The government agency is responsible for the preparation of comprehensive land use in a locality.
a. Local government unit
b. HUDCC
c. Register of Deeds
d. HLURB
e. DAR
1400. A building is depreciated at 2.5% per year on a straight line basic. What is the estimated useful life of the building?
a. 30 years
b. 40 years
c. 50 years
d. 60 years
1401. The article of incorporation of homeowners association is registered with:
a. Securities and exchange commission
b. Housing and land use regulatory board (HOA-CDB)
c. Home guaranty corporation
d. Bureau of trade regulation and consumer protection
1402. It refers to the acquisition of land at values based on existing use in advance of actual need to promote planned development and socialized
housing
a. Land use
b. Land assembly
c. Land consolidation
d. Land banking
1403. A subdivision plan of a registered land wherein a street, passageway or open space is delineated on the plan
a. Simple subdivision
b. Complex subdivision plan
c. Subdivision open space plan
d. Open space subdivision plan
1404. Any amendment to the master deed of a condominium project decided by the majority of owners must be approved by the HLURB and
a. City/ Municipal Mayor
b. City/ Municipal Engineer
c. City/ Municipal Council
d. City/ Municipal Assessor
e. City/ Municipal Development Planning Officer
1405. In mixed use condominium projects, the master deed may be amended by simple majority of the unit owners. Majority is based on:
a. Number of condominium units
b. Total area of condominium units
c. Floor area of ownership
d. Value of the condominium unit
1406. Amendment to the master deed of a condominium project approved by majority of the registered owners need also be approved by the city/
municipal engineer and:
a. Local government
b. Housing and Urban Development Coordinating Council
c. Housing and Land Use Regulatory Board
d. Land Registration Authority
1407. The income approach to value is an application of the principle:
a. Highest and best use
b. Substitution
 c. Progression
d. Anticipation
1408. An estimate or opinion of Value is:
a. Accounting
b. Appraisal
c. Valuation
d. Computation
1409. The PAG-IBIG housing loan may be used to finance a purchase of a fully developed lot not exceeding:
a. 2,000 sq.m.
b. 1,000 sq.m.
c. 5000 sq.m.
d. 100 sq.m.
e. 200 sq.m.
1410. Urbanizable areas refer to sites and lands, which considering present characteristics and prevailing condition, display marked and great
potential of becoming urban areas within the period of
a. Two (2) years
b. Five (5) years
c. Fifteen (15) years
d. Three (3) years
e. Ten (10) years
1411. The principle holds that when two or more commodities with substantially the same utility are available, the one with the lowest price receives
the greatest demands and widest distribution.
a. Principle of Contribution
b. Principle of Balance
c. Principle of Highest and Best Use
d. Principle of Substitution
e. Principle of Competition
1412. A general area declared thru Proclamation 2146 as environmentally sensitive such that significant environment impacts are expected if certain
types/ thresholds of proposed projects are located developed or implemented in it.
a. Environmentally Critical Area
b. Environmentally Critical Project
c. Environmentally Sensitive Area
d. Environmentally Safe Area
1413. The article of incorporation of homeowners association is registered with:
a. Securities and Exchange Commission
b. Housing and Land Use Regulatory Board (HOA-CDB)
c. Home Guaranty Corporation
d. Home Guaranty Corporation
e. Bureau of Trade Regulation and Consumer Protection
1414. It refers to the acquisition of land at values based on existing use in advance of actual need to promote planned development and socialized
housing
a. Land use
b. Land assembly
c. Land consolidation
d. Land banking
1415. A subdivision plan of a registered land wherein a street, passageway or open space is delineated on the plan
a. Simple subdivision
b. Complex subdivision plan
c. Subdivision open space plan
d. Open space subdivision plan
1416. Any amendment to the master deed of a condominium project by the majority of owners must be approved by the HLURB and
a. City/ Municipal Mayor
b. City/ Municipal Engineer
c. City/ Municipal Council
d. City/ Municipal Development Planning Officer
1417. In mixed use condominium projects, the master deed may be amended by simple majority of the unit owners. Majority is based on:
a. Number of condominium units
b. Total area of condominium units
c. Floor area of ownership
d. Value of the condominium unit
1418. Amendment to the master deed of a condominium project approved by major of the registered owners need also be approved by the
city/municipal engineer and:
a. Local government
b. Housing and Urban Development Coordinating Council
c. Housing and Land Use Regulatory Board (DHSUD)
d. Land Registration Authority
1419. The income approach to value is an applicant of the principle of:
a. Highest and best use
b. Substitution
c. Progression
d. Anticipation
1420. An estimate or opinion of Value is:
a. Accounting
b. Appraisal
c. Valuation
d. Computation
1421. The PAG-IBIG housing loan may be used to finance a purchase of a fully developed lot not exceeding:
a. 2,000 sq.m.
b. 1,000 sq.m.
c. 5,000 sq.m.
d. 100 sq.m.
e. 200 sq.m
1422. Urbanizable area refer to sites and lands, which considering present characteristics and prevailing condition, display marked and great potential
of becoming urban areas within the period of
a. Two (2) years
b. Five (5) years
c. Fifteen (15) years
d. Three (3) years
e. Ten (10) years
1423. The principle holds that when two or more commodities with substantially the same utility are available, the one with the lowest price receives
the greatest demands and widest distribution
a. Principle of Contribution
b. Principle of Balance principle of Highest and Best Use
c. Principle of Substitution
d. Principle of Competition
1424. A general area declared thru Proclamation 2126 as environmentally sensitive such that significant environmental impact are expected if certain
types/thresholds of proposed projects are located, developed or implemented in it.
a. Environmentally Critical Area
b. Environmentally Critical Project
c. Environmentally Sensitive Area
d. Environmentally Safe Area
1425. If TCT has an annotation that says “subject to Rule 74, Section 4 of the Rules of Court:, it means that the property is an inherited property and
any heir unduly deprived of his lawful participation in the estate has __ years to assert his right over said property.
 a. Two (2) years
b. Five (5) years
c. Four (4) years
d. Ten (10) years
1426. Under RA 7279, _______________________ shall be resorted to only when other modes of acquisition have been exhausted.
a. Negotiated purchase
b. Land Consolidation
c. Expropriation
d. Joint Venture Agreement
1427. A broker’s complaint for non- payment of commission by the developer shall be filed with :
a. HLURD
b. BTRCP
c. HUDCC
d. Courts
1428. The income approach in estimating the value of an investment property is an application of
a. Principle of Substitution
b. Principle of Progression
c. Principle of Contribution
d. Principle of Anticipation
1429. The principle of value which states that the value of a property tends to be enhanced where there is reasonable homogeneity in use
a. Principle of Highest and Best Use
b. Principle of Conformity
c. Principle of Increasing Returns
d. Principle of Progression
1430. When the loan is fully amortized by equal monthly payment, the amount applied to the principal:
a. Decreases while interest payment increase
b. Increases while interest decreases
c. Increase by constant amount
d. None of the above
1431. Total refund to buyer for developer’s failure to complete the development within the reglementary period is equivalent.
a. 50% of total payment inclusive of amortization interest less penalty interest
b. 50% of total payment inclusive of amortization interest and penalty interest
c. 100% of total payment inclusive of amortization less penalty interest
d. 100% of total payment less penalty interest plus legal interest
1432. The Estate Tax Return shall be filed with the BIR within:
a. 60 days from death of decedent
b. 90 days from death of decedent
c. 120 days from death of decedent
d. 180 days from death of decedent
1433. Under the Urban Land Reform Law (PD 1517), an area is considered urban when it has a population density of at least ___________ and
where at least 50% of economically active residents are engaged in non-agricultural activities.
a. 500 residents per square kilometre
b. 1,000 residents per square kilometre
c. 1,500 residents per square kilometre
d. 2,000 residents per square kilometre
1434. An appraisal technique in which comparative estimates are made between prices paid in actual transaction and the current listings:
a. Cost Approach
b. Income Approach
c. Market Approach
d. Economic Approach
1435. A process that involves predicting and evaluating the likely impacts of a project (including cumulative impacts) on the environment during
construction, commissioning, operation and abandonment.
a. Environmental Assessment Process
b. Environmental Evaluation Approach
c. Environmental Prediction and Impact Report
d. Environmental Impact Assessment
1436. The Subdivision and Condominium Buyer Protective Decree, PD 957, governs the following, except:
a. Regulates sale of subdivision lots and condominium units to buyer
b. Defines sale to be covered by registration
c. Defines duties and responsibilities of owner/developer (o/d) of condominium and subdivision projects.
d. Rights of the real estate broker versus the developer
e. Defines rights of condominium/ subdivision units/ lot buyers.
1437. X, owner of a 10-door apartment, rented a unit to Y for a period of one year. Under the law on lease, Y, without consent of X, may perform any
of the following acts, except:
a. Sublease the unit
b. Assign his rights
c. Suspend payment if X falls to make the necessary repairs
d. Demand reimbursement constituting one half the value of the useful improvement introduced in good faith
1438. Several houses valued at P 1,000,000.00 and P 2,000,000.00 were built in area where an existing house valued at P 300,000.00 is located. As
a result, the value of the latter increased. The real estate principle of value that applies to this situation is called the principle of:
a. Substitution
b. Improvement
c. Progression
d. Regression
1439. Presidential Decree No. 1216 defines open spaces in residential subdivision and requires subdivision owners to provide adequate roads, alleys,
sidewalks and reserved open spaces for parks or recreational use equivalent to.
a. 10%
b. 20%
c. 25%
d. 30%
1440. Registration of mortgage covering projects can only be affected when the deed is accompanied by a permit to mortgage issued by:
a. Local Government Unit
b. Housing and Urban Development Coordinating Council
c. Home Insurance Guarantee Corporation
d. House and Land Use Regulatory Board
e. National Housing Authority
1441. The priority of tenant to buy the land located is an urban reform area is known as:
a. Tenant’s possessory right
b. Tenant’s incremental right
c. Tenant’s right of first refusal
d. Tenant’ retention right
1442. A petition may be filed by one or more unit owners of condominium project when damage to the project has rendered one-half or more of the
unit untenantable and unit owners holding more than _________ percent interest in the common areas are opposed to repair or restoration of
the project:
a. 30%
b. 40%
c. 50%
d. 60%
1443. At 18% interest per annum, how much is the interest of P500,000.00 loan fro 65 days using 360 as number of says in a year?
a. P15,000.00
b. P16,027.70
c. P16,250.00
d. P90,000.00
Sol.65/360×18%×500k
1444. A land survey always uses a fixed point of reference , it could be any of the following, except:
a. City Boundary Monument
b. Bureau of Land Location Monument
c. Provincial Boundary Monument
d. TIE LINE
e. Bureau of Lands Boundary Monument
1445. A subdivision plan prepared for a flat terrain condition is:
a. Contour planning
b. Chaplan planning
c. Topographic Planning
d. SQUARE PLANNING
1446. The technical description in the TCT of real property can be readily plotted on a sheet of paper by using the following data:
a. BLLM and the tie line
b. Bearing and lot points
c. Bearing and tie line
d. BEARING AND DISTANCE FROM LOT POINTS
e. Bearing and lot points
1447. As provided by R.A. 7279, a developer of a subdivision is required to develop an equivalent of twenty percent (20%) of the project for:
a. Open space
b. Socialized housing
c. Commercial area
d. Economic housing
1448. In condominium, the share in the common areas may be made under the following modes, except:
 a. Equal sharing
b. Based on the value of the unit
c. Based on the number of units owned
d. Based on the unit area
1449. The following reports are acceptable for a real estate appraiser under the RESA, expect:
a. Letter Report
b. Oral Report
c. Narrative Report
d. Form Report
1450. Arnold and Rosita sold their house which is their principal residence. You as their broker have to advise them that the transaction is exempt
from the capital gains tax if they spend how many percent of the sales proceeds in acquiring or constructing their new principal residence?
a. 50%
b. 75%
c. 100%
d. 60%
1451. Exemptions on payment of six percent (6%) capital gains tax on the sale of an individual seller’s principal residence who will use the proceeds
to purchase a new place of residence may be availed of only once very:
a. 5 years
b. 8 years
c. 10 years
d. 12 years
1452. Your client asked you to make a simple appraisal of his lot in Baguio prior to giving you an exclusive authority to sell the lot. Based on the
technical description and an inspection of the property and surroundings, you have determined the following:
 Land area = 3,200 square meters
 Average price of land in the area = 9,000 per square meter
 Unobstructed view (plus) = 15%
 Topography (minus) = 10%
 Plottage value (plus) = 6%
3200 × 9,000 = 28,800,000 × 111%
What is the fair market value of the property.
a. Fair Market Value = P31,968,000.00
b. Fair Market Value= P 30,240,000.00
c. Fair Market Value = P 28,800,000.00
d. Fair Market Value = P 33,120,000.00
1453. Annotation of Section 3, Rule 74 of the Rules of Court on the title to the property of a deceased person with a surviving spouse and children,
provides that the property shall be subject to the rights of three of the following four. Who among the four does not have a right to the subject
property?
a. Heirs
b. Any person who might have been unduly deprived of his participation in the deceased
c. The parents of the deceased
d. Creditor
1454. Refers to the purchase by a person, natural of juridical, of more than one saleable lot or unit within an HLRB approved subdivision for the
purpose of re-selling the same with or without introducing alteration in the approved plan.
a. Wholesale purchase
b. Wholesale buying
c. Bulk Buying
d. Bulk Purchase
1455. Mr. PASTOR wants Mr. FELIPE to sell the titled property of their family corporation. After inspecting the property Mr. FELIPE request for an
Exclusive Authority to Sell. Who should be the signatory in the authority and all the subsequent documents in case the property is sold.
a. Whoever is authorized in a formal board resolution as per the Corporate Secretary’s Certification
b. The company President
 c. The father who is the patriarch of the family
d. The Treasurer of the corporation
1456. Mr. Cruz was the lessor of 25 units of residential apartments with equal rental payments and made a total annual gross receipts of
P2,700,000.00 for the year 2008. How much is the value added tax for the year?
a. P241,071.42
b. P289,285.71
c. P270,000.00
d. VAT Exempt
e. P324,000.00
Sol. 2.7M×12/112 = 289,285.71
1457. In case of inheritance by the children from their parents, the following taxes and expenses must be paid for the estate in case it involves real
property, except:
a. Estate tax
b. Transfer tax
c. Documentary Stamp tax
d. Registration Fees
e. All of the above
1458. The creditable withholding tax in the sale of acquired foreclosed asset of a bank in the amount of P950,000.00 is:
a. 1.5%
b. 3.0%
c. 5.0%
d. 6.0%
1459. In the sale of a parcel of land by a corporation in the amount of P750,000.00 which is a capital assets, tax to be imposed is:
a. 1.5%
b. 3.0%
c. 5.0%
d. 6.0%
1460. The transfer tax on the sale of real property shall be paid to:
a. Bureau of Internal Revenue
b. City Treasurer
c. City Assessor
d. Register of Deeds
1461. The life of the condominium corporation is:
a. 50 years
b. 25 years renewable for another 25 years
c. 99 years
d. Co-terminous with the project
1462. A certificate to which the Proponent conforms to comply with existing environmental regulations or to operate within nest environmental
practices that are not currently covered by existing laws.
a. Environmental Clearance
b. Environmental Development Permit
c. Environmental Compliance Certificate
d. Environmental Undertaking
1463. A method of property appraisal by estimating the fair market value of an improvement by estimating present reproduction cost and deducting
depreciation is:
a. Basic improvement approach
b. Cost approach
c. Income approach
d. Market date approach
1464. The most important document to be checked by a buyer before buying a subdivision lot in a residential subdivision.
a. Master Deed
b. Subdivision Plan
c. License to sell
d. Reservation Agreement
1465. The present rate of VAT for the sale of real properties owned by a corporation in the amount of P20,000,000 is
a. 5%
b. 10%
c. 12%
d. 6%
1466. Traditional ownership is best evidence by
a. CCT
b. TCT
c. Master Deed
d. Tax Declaration
1467. The special power of attorney executed abroad must be authenticated by any of the following, except:
a. OWWA
b. Consul, Vice Consul
c. Philippine Ambassador
d. Charge d’ Affairs
1468. If a decedent died leaving several heirs, but no will and no debts, the heirs must execute the following document to transfer the title to the heirs.
a. Affidavit of Adjudication by heirs
b. Partition Agreement
c. Transfer of Rights
d. Deed of Extrajudicial Settlement
1469. Which among the following function s is devolved to the LGU under the Local Government Code.
a. Issuance of License to Sell of a Subdivision
 b. Issuance of approval of subdivision plans subject to national laws and standards
c. Revocation of License to Sell by a Developer
d. Adjudication of subdivision related complaints
1470. Mr. GPA executed a special power of attorney in favour of Mr. D to sell his land located in Bulacan but Mr. D did not sign the special power of
attorney. The special power of attorney is
a. Voidable
b. Void
c. Unenforceable
d. Valid
1471. The difference the total contract price and the amount to be financed through a bank loan by the buyer is.
a. Amortization
b. Buyer’s equity
c. Balloon payment
d. Downpayment
1472. An annotation on the TCT that refers to the limitation on the use of the lot, such as building lot easement, further subdivision of the lot,
maximum height.
a. Deed of Restriction
b. Easement Regulations
c. Notice of Lis pendens
d. Mortgage
1473. In order to register a sale with the Register of deeds, the buyer must present the following documents, except:
a. Certificate Authorizing Registration
 b. Proof of payment to the seller
c. Original owner’s duplicate certificate of title
d. Transfer Tax payment and clearance
1474. As defined under Section 2(d) of PD 957, a tract or parcel registered under Act No. 496 which is partitioned primarily for residential purposes
into individual lots with or without improvements thereon and offered to the public for sale, in cash or instalment terms. It shall including all
residential, commercial, industrial and recreational areas as well as open spaces and other community and public areas in the project.
a. Residential subdivision plan
b. Open housing subdivision
c. Subdivision development plan
d. Subdivision project
1475. In the sale of a condominium unit, it is necessary to present this additional document in order to register the sale in favour of the buyer with the
Register of Deeds.
a. Certificate Authorizing Registration
b. Certificate of Management
c. Certificate of Citizenship
d. Certificate of Non delinquency in Condominium Dues
1476. The government agency which is involved in the regulation of environment laws in the Philippine in relation to the development of subdivisions
a. Department of Agriculture
b. Department of Environment and natural Resources
c. Department of Forestry
d. Department of Housing
1477. THE LATEST PRICE CEILING FOR SOCIALIZED housing as per the Housing Urban Development Coordinating Council is:
a. 150,000
b. 200,000
c. 225,000
d. 400,000 (450,000)
1478. A certificate certifying that, based on the submitted project description, the project is not covered by the EIS System and is not required to
secure an environmental compliance certificate or ECC
a. Certificate of Non-Coverage
b. Certificate of Exemption
c. Certificate of Compliance
d. Certificate of Environmental Compliance
1479. Refers to housing programs and projects covering houses and lots or home lots only undertaken by the Government or the private sector for the
underprivileged and homeless citizens pursuant to RA 7279.
a. Socialized Housing
b. Low Cost Housing
c. Homeless Housing Program
d. Low Cost and Homeless housing
1480. It is the rational and deliberate allocation of land resources to different uses based on the comprehensive and integrated plan for the area. It
translates the social-economic, the infrastructure and environmental plan into land allocations.
a. Land use plan
b. Land rationalization plan
c. Land use and comprehensive plan
d. Land use environmental plan
1481. The following are modes of compliance with Sec. 18 or PD 7279, except.
a. Development of a New Settlement
b. Development of Subdivision Facilities
c. Slum Upgrading. To be certified by the National Housing Authority or the Local Government Unit concerned.
d. Participation in the Community Mortgage Program (CMP) either as a financier or a developer.
1482. No real estate dealer broker or salesman shall engage in the business of selling subdivision lots or condominium units under PD 957 unless he
has registered himself with
a. Professional Regulation Commission
b. Housing and Land Use Regulatory Board
c. Department of Trade and Industry
d. City Mayor’s Office
1483. The following are advantage of condominium ownership, which does not belong
a. Easy to maintain
b. Can be sold to foreigners
c. Evidence by TCT
d. Economy in land space
1484. THE VIOLATION OF THE PROVISIONS OF THE SUBDIVISION and Condominium Buyer Protective Decree could subject the developer to
fine of
a. 5,000
b. 10,000
c. 100,000
d. 20,000
1485. In real estate appraisal, what approach is used through the conduct of a survey or investigation into similar properties being sold in the area.
a. Market Data approach
b. Cost approach
c. Survey approach
d. Market Research approach
1486. In case one cannot find or locate his copy of the owners duplicate certificate of title, he must file with the register of deeds the following:
a. Affidavit of Loss
b. Affidavit of Recovery
c. Sworn statement of ownership
 d. Sworn statement of loss of original copy
1487. Some of the common annotation appearing in the title are the following, except:
a. Mortgage
b. Notice of Lis Pendens
c. Contract of Lease
d. Deed of Absolute Sale
1488. In case of transfer tax payable to the municipal treasure, the rate of transfer tax shall be
a. 1.5%
b. ½ of 1%
c. ¾ of 1%
d. 1%
1489. For purpose of complying with the provisions of PD 957 , the owner or developer may divide the development and sale of the subdivision into
phases, each phase to cover not less than
a. Ten (10) hectares
b. Five (5) hectares
c. Twenty (20) hectares
d. Fifteen (15) hectares
1490. Prescribes the developmental pace, directions and strategies for the optimum use of land resources in a community as well as its role in
provincial, regional and national development.
a. Development Plan
b. Comprehensive land use plan
c. Community land use plan
d. Development land use plan
1491. The following cases do not fall under the jurisdiction of the HLURB , except
a. Complaints vs. Buyer
b. Complaints vs. Co-Practitioner
c. Complaints vs. Owner [Commission]
d. Complaints by buyer vs. Developer
1492. The following documents of a sale of real estate are open to the public and a copy thereof may be obtained by a person from the Register of
Deeds except
a. Certified true copy of title
b. Lot and Vicinity map
c. Deed of Absolute Sale
d. Certificate Authorizing Registration on the sale
1493. The principle of supply and demand is one of the basic principles of property valuation and in case there are more properties being sold than
the demand for such property, it is referred to as a
a. Sellers market
b. Buyers market
c. Free market
d. Open market
1494. An estimate of value of a parcel of land which is expressed in peso amount and made as of a particular point in time
a. Value analysis
b. Appraisal
c. Assessment
d. Land value approximation
1495. One may have an appraisal of real properties for the following purpose, except
a. Insurance for a manufacturing plant
b. Expropriation of land
c. Construction of additional improvement on the house
d. Partitioning of estate
1496. Under PD 957, the real estate broker must file a bond in the amount of
a. 1,000
b. 5,000
c. 20,000
d. 25,000
1497. It is referred to as the effect of real estate on the total economy where construction of real estate brings an effect to other sectors of the
economy
a. Economic effect of real estate
b. Multiplier effect of real estate
c. Multiplier effect on the economy
d. Economic multiplier effect
1498. It is required that one present this document in the registration of the deed of extrajudicial settlement for a property with improvements with the
register of deeds
a. Building plan
b. Owners copy of duplicate certificate of title
c. Affidavit of no improvement
d. Certification of Building Assessor
1499. In a legal contract/ instrument between individuals as parties , the instrument must contain the following data concerning the parties, except:
a. Full names and addresses
b. Civil status and citizenship
c. Capacity and personality in the contract
d. Board resolution
1500. Real Estate Brokerage is the act or practice of negotiating involving the following, except:
a. Sale
b. Lease
c. Build and Sell
d. Mortgage
 e. Exchange
1501. A real estate dealer engages in the buying and selling of a real estate for the purpose of receiving:
a. Commission
b. Share of broker’s fee
c. Overriding commission
d. Profit
e. Referral Fee
1502. Which of the following do not require a license or accreditation from the Professional Regulation Commission to engage in real estate practice?
a. Real estate dealer
b. Real estate salesman
c. Real estate broker
d. Real estate appraiser
e. Real estate consultant
1503. A real broker is required to file a bond with PRC in the amount of?
a. P 500.00
b. P 1,000.00
c. P 5,000.00
d. P 10,000.00
e. P 20,000.00
1504. The following is an essential element of real estate brokerage
a. At least 5 years experience in sales
b. Knowledge of real estate appraisal
c. Must find at least two (2) buyers
d. Must be employed by the owner as agent
e. Must not expect any valuable consideration
1505. In order to be entitled to broker’s commission on the sale of the house of his neighbour, the real estate broker must be
a. Registered with HLURB
b. Registered with BIR as VAT registered
c. Not convicted of a crime involving moral turpitude
d. The procuring cause for the sale
e. The one to negotiate the sale of the property
1506. The real estate broker must have a working knowledge of the following, except:
a. Real estate market
b. Real estate economics
c. Laws affecting real estate
d. Basic features of land and building construction
e. Preparation of an appraisal report on the property
1507. The essential attributes of a real estate broker , to engage in brokerage practice are as follows, except:
a. Salesmanship
b. Tact and Diplomacy
c. Honesty and Integrity
d. Been a licensed real estate salesman for (4) years
e. Working knowledge of real estate economics
1508. The right of a real estate broker, in a sale of real property, include the following, except:
a. To receive compensation for services rendered;
b. To accept the best offer he deed best for the owner ;
c. To be informed of facts concerning the property listed with him;
d. To be given ample time to complete the negotiations;
e. To be treated in good faith by the principal.
1509. In real estate brokerage, the principal is liable for the acts of the broker only if
a. Done within the period of authority
b. Within the scope of the authority given to the broker
c. The broker is licensed with HLURB
d. There is a holdover or safety clause
e. There is a written authority given to the broker
1510. In the sale of a property of the owner, the real estate broker shall be entitled to commission if
a. The broker knows the buyer personally
b. The broker is able to find a ready and willing buyer
c. The broker is the only broker involved
d. The broker is the procuring cause of the sale
e. The broker is registered with the BIR
1511. The holdover clause entitles the real estate broker to
a. Extension of his authority for the same period
b. Extension to look for a willing, ready and able buyer
c. Broker’s commission even if the sale is closed after expiration of authority
d. Broker’s commission even if the buyer was registered after the expiration of his authority
e. Brokers commission if sold to his buyer by another broker
1512. The holdover clause in real estate brokerage, is also referred to as
a. Extension of authority clause
b. Automatic extension clause
c. Right to commission clause
d. Safety clause
e. Extension clause
1513. In case a property is leased out by two (2) real estate brokers, the sharing of commission, in the absence of any agreement, shall be
a. As determined by the owner
b. As determined by the tenant
c. Equal sharing
 d. 60% for the broker who represent the lessee
e. 60% for the broker who represents the owner
1514. A real estate broker, in engaging in the practice of real estate brokerage, must avoid certain pitfalls in the practice, otherwise, it will result in the
following, except:
a. Loss of investment in the prospective transaction by way of expenses;
b. Loss of expected income;
c. Loss of license;
d. Waste of time;
e. Loss of prestige in attending in the brokerage business and profession.
1515. The law that governs the relationship between the principal and the real estate broker is
a. Law on real estate brokerage
b. Law on agency
c. Law on real estate practice
d. Law on real estate service practice
e. Law on contracts and obligation
1516. The relationship between the owner who repose confidence in the real estate broker, based on “trust and confidence” is referred to as
a. Trust relationship
b. Trust and confidence relationship
c. Fiduciary relationship
d. Intimate relationship
e. Business relationship
1517. A real broker obtained a listing for the sale of a lot of the owner. The authority of the broker may be extinguished by the following, except:
a. Death of owner
b. Expiration of the authority
c. Withdrawal of the Buyer
d. Withdrawal of the Agent
e. Revocation by the owner
1518. The following is not considered a step in the practice of real estate brokerage
a. Security prospects
b. Closing of Sale
c. Negotiation
d. Turnover of possession of property
e. Presentation and demonstration of property
1519. An authority to sell given to a real estate broker to sell a vacant lot should contain the following information except:
a. Name of principal
b. Terms and Condition of sale
c. Period of authority
d. Description of improvement
e. Holdover clause
1520. The real estate broker obtained a listing from a client verbally . In this case, the listing can be considered as
a. Not valid
b. Void
c. Valid
d. Unenforceable
e. Useless
1521. An open listing to sell real property means that
a. Anybody can sell the property
b. Only two brokers have the exclusive authority
c. Two or more brokers are authorized to offer the property for sale
d. More than five (5) brokers are authorized to negotiate the sale
e. Direct buyers only
1522. An owner wants to lease out her house and lot in Ayala Alabang and she can give the real estate broker any of the following types of authority,
except:
a. Non-exclusive listing
b. Exclusive listing
c. Open listing
d. Exclusive right to sell
e. Exclusive agency
1523. Mr. B owns a house and lot in Makati and wants to sell the house and lot at a price of P10,000.000 net to the owner. How much will the real
estate broker have to sell the property if the capital gains tax and broker’s commission of 3% shall be included in the final selling price.
a. P 10,000,000
b. P 10,600,000
c. P 10,300,000
d. P 10,900,000
e. P 10, 989,011
Solution
10M/100%-6%-3% = 10,989,011 = 10,900,000
1524. Mr. C sold a vacant parcel or residential land for the amount of P 2,500,000 and will shoulder the capital gains tax, documentary stamps tax and
broker’s commission of 5%. What will be the net amount that the owner will receive?
a. P 2,000,000
b. P 2,187,500
c. P 2,350,000
d. P 2,225,000
e. P 2,312,500
Solution
2.5M × 5%+6%1.5%
1525. The real estate broker sold the property of Mr.
House for P4,800,000 but Mr. House wanted a net amount of P4,400,000. If the owner will
shoulder the capital gains tax, how much will be the amount left for the 5% commission of the real estate broker
 a. P 240,000
b. P 225,000
c. P 225,600
d. P 220,000
e. P 112,000
Sol. 4.8×6% = 288K then 400k-288K = 112K
1526. A group of real estate brokers from the City of Manila gathered and met together and exchanged properties for sale and wanted with each
other. This arrangement is referred to as
a. Real estate association
b. Real estate property exchange
c. Multiple listing
d. Listing exchange
e. Listing association
1527. Generally also referred to in real estate brokerage as a buyer who is willing and has the capacity to buy the property
a. Preferred Client
b. Real estate buyer
c. Prospect
d. Suspect
e. Real estate property customer
1528. In the ocular presentation and demonstration of a property being sold by a real estate broker, the broker must point out to the buyer
a. The good of the property
b. The positive attributes and qualities of the property
c. The fact that it is not mortgaged
d. The title and tax declaration are free from all encumbrances
e. The property is updated in real estate tax payments
1529. The most essential feature of earnest money paid by the buyer for the purchase of a condominium unit is
a. It must be paid in cash
b. It must be at least 20% of the purchase price
c. It must be paid in manager’s check
d. It forms a part of the purchase price
e. It is distinct and separate from the purchase price.
1530. It is a contract between the seller and buyer wherein the buyer reserves the right to buy the property within a period of time and at a specified
price
a. Option
b. Contract to sell
c. Deed of conditional sale
d. Memorandum Agreement of Sale
e. Right of first refusal
1531. It is consideration paid for in the contract between the seller and buyer wherein the buyer reserves the right to buy the property within a period
of time at a specified price
a. Earnest money
b. Reservation deposit
c. Downpayment
d. Initial Payment
e. Option Money
1532. The seller and buyer entrusted to a third party of the consideration in the contract of sale with the bank to be released only to the seller upon
fulfilment of certain conditions agreed upon between the buyer and seller is referred to as.
a. Earnest Money
b. Reservation Deposit
c. Escrow
d. Safety Deposit
e. Option Money
1533. For the purpose of escrow of the consideration in a sale of a raw land with the bank, the parties to the escrow agreement must be
a. Seller
b. Buyer
c. Bank
d. Seller and buyer
e. Seller, Buyer and the Bank
1534. For the purpose of escrow of the consideration in a sale of a raw land being sold by a real estate brokers, the purchase price or part thereof san
be deposited with any of the following, except:
a. Third party
b. Commercial Bank
c. Real estate Broker
d. Thrift Bank
e. Seller
1535. A duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, acts as an agent of a
party in a real estate transaction to offer the sale estate
a. Real estate middleman
b. Real estate broker
c. Real estate marketing company
d. Real estate brokerage corporation
1536. Appraisal principle which holds that the value of property tends to be enhanced by association with superior properties, is
a. Principle of infiltration
b. Principle of regression

a.
b.
 c. Principle of progression
d. Principle of competition
1537. The following are function of a real estate broker in real estate transaction, but not:
a. Sale
b. Mortgage
c. Construction
d. Lease
1538. A duly accredited natural person who performs service for, and in behalf of, a real estate broker who is registered and licensed by the
Professional Regulatory Board of Real Estate Service
a. Real estate property consultant
b. Real estate salesperson
c. Real estate sales agent
d. Real estate sales consultant
1539. The study of current supply and demand conditions in a particular area for a specific type of property is.
a. Real estate appraising
b. Cash flow analysis
c. Market data approach
d. Market analysis
1540. Any person, natural or juridical, who is engaged in the trade of selling, buying, or leasing his own real properties or interest therein, using his
own funds and with the purpose of realizing profit as defined under the RESA
a. Real estate broker
b. Real estate developer
c. Real estate dealer
d. Real estate builder
1541. A method of property appraisal by estimating the fair market value of an improvement by estimating present reproduction cost and deducting
depreciation is:
a. Basic improvement approach
b. Cost approach
c. Income approach
d. Market date approach
1542. A real broker performs his functions and receives compensation for the services rendered in the form of
a. Salary
b. Professional fee
c. Profit
d. Gain
1543. A real estate broker is required to obtain a license from the
a. Professional Regulatory Commission
b. Department of Trade and Industry
c. Housing Land Use and Regulatory Board
d. Professional Regulation Commission
1544. Real estate as a profession refers to rendering of service for and on behalf of another, the sell, lease, mortgage, exchange, on real estate
matters, for a professional fee or
a. Valuable consideration
b. Profit
c. Professional salary
d. Valuable compensation
1545. A kind of survey where the shape of the earth is taken into account in computing results is known as
a. Plane survey
b. Geodetic survey
c. Topographic survey
d. Cadastral survey
1546. The essential elements of real estate brokerage are, but not
a. Employment of the broker as an agent
b. There must be a written contract between the owner and broker
c. Functions to be performed by the broker must be specific
d. The services rendered by the broker are for a fee, commission or any other valuable consideration
1547. Refers to housing programs and projects covering houses and lots or home lots only undertaken by the Government or the private sector for the
underprivileged and homeless citizens pursuant to RA 7279.
a. Socialized Housing
b. Low Cost Housing
 Q&A In partnership with Miguelle D . Lansang
c. Homeless Housing Program
d. Low Cost and Homeless housing
1548. An essential attribute of a real estate broker is to have good working knowledge of the following, but not:
a. Real estate economics
b. Laws affecting real estate
c. Real estate consultancy
d. Financing practice in real estate transaction
1549. The ratio that expresses the relation between gross income and sales price of property is
a. Recapture rate
b. Effective gross income
c. Capitalization
d. Gross income multiplier
1550. The essential attribute of tact and diplomacy of a real estate broker refers to skills in
a. NEGOTIATION
b. Site tripping
c. Project presentation
d. Closing the sale
1551. The owner or principal has the right to have full knowledge of
a. All facts and circumstances affecting the transaction
b. All facts about the personal circumstances of the broker
c. All facts about the experience of the real estate broker in selling
d. All facts about the personal circumstances of the buyer
1552. The rational approach of allocating available land resources as equitably as possible among competing user group is
a. Land assembly
b. Land use plan
c. On-site development
d. Urban renewal
1553. The principal has the right to negotiate and close the deal himself without being under any obligation to pay commission to the broker unless it
is an
a. Exclusive listing
b. Exclusive right to sell
c. Open listing
d. Non-exclusive authority
1554. The priority of a tenant to buy the land located is an urban reform area is known as :
a. Tenant’s possessory
b. Tenant’s incremental right
c. Tenant’s right of first refusal
d. Tenant’s retention right
1555. A real estate broker has the following rights, except
a. To receive compensation for services rendered
b. To be informed of facts concerning the property listed with him
c. To be given ample time to complete the negotiations
d. To be paid only in money by the principal
1556. Several houses valued at P1,000,000.00 and P2,000,000.00 were built in area where an existing house valued at P800,000.00 is located. As a
result, the value of the latter increased. The real estate principle of value that applies to this situation is called the principle of:
a. Substitution
b. Improvement
c. Progression
d. Regression
1557. The following are duties and responsibilities of a real estate broker , except
a. To be absolutely loyal to the principal
b. To inform the principal of all facts relevant to the transaction
c. To account for all the money entrusted to him
d. To protect the interests of the buyer
1558. The principal is liable for all the acts of his agents such as the real estate broker which are executed
a. Upon the own volition of the broker
b. Upon instruction of the buyer
c. Outside the scope of the authority
d. Within the scope of his authority
1559. For a broker to be entitled to commission , he must find a buyer who will actually buy the property
a. On the terms and conditions accepted by the owner
b. On cash payment only
c. Within fifteen days
d. On the terms and conditions imposed by the buyer
1560. Where there is no mention of the commission due to the broker and his services were engaged and subsequently a sale is made to buyer
procured by the broker, the rate of commission may be determined by
a. The schedule of commission in Metro Manila
b. The schedule of commission of the PRBRES
c. The established business practice
d. The established commissions of the real estate service organization
1561. In real estate transactions, commission is due upon the
a. Perfection of the contract
b. Signing of the Deed of Sale
c. Taking possession by the buyer
d. Transfer of title to the buyer
1562. Some of the conditions that the real estate broker must show to entitle the broker to commission are, but not
a. That his services were contracted by the person from whom he seeks payment
b. That his effort is the procuring cause of the sale
 Q&A In partnership with Miguelle D . Lansang
c. THAT THE BUYER WILL PAY IN CASH
d. That he was able to find a buyer who is ready, willing and able
1563. Generally, the person who contracted the service of the broker in promoting the sale of his property is bound for payment of commission and is
the
a. Seller
b. Buyer
c. Representative of the buyer
d. Seller and buyer
1564. This is a provision in a listing contract which entities the broker to commission even if the sale were closed after the period of his authority,
provided that the buyer was registered by the broker with the seller during the period of authority
a. Safety clause
b. Safety holdover clause
c. Safety commission clause
d. Safety listing clause
1565. In the absence of any stipulation to the contrary, the commission is payable in full
a. Upon the consummation of the contract
b. Upon perfection of the contract
c. Upon payment of the earnest money
d. Upon reservation
1566. The sharing of commission between two people who are both real estate brokers shall be based upon
a. Equal sharing
b. 60-40 in favour of the broker who brought the buyer
c. Agreement of the brokers
d. The owner of the property
1567. It is always advised that when dealing with co-brokers that the sharing agreement, in order to avoid disagreements and conflict in the sharing of
commissions be
a. Be put in writing
b. Be clarified at the beginning
c. Be duly notarized
d. Be in front of at least two witnesses
1568. It is a contract wherein a person binds himself to render some service or to do something in representation of or on behalf of another, with the
consent or authority of the latter
a. Contract of representation
b. Contract of Agency
c. Contract of Authority
d. Contract of service
1569. The income approach in estimating the value of an investment property is an application of
a. Principle of Substitution
b. Principle of Progression
c. Principle of Contribution
d. Principle of Anticipation
1570. The relation between one who reposes confidence in another who acts as his agent, based on “trust and confidence : as in the relationship of
the broker and the owner is referred to as
a. Trust relationship
b. Fiduciary relationship
c. Confidence relationship
d. Trust and confidence relationship
1571. The technical description in the TCT of real property can be readily plotted on a sheet of paper by using the following data:
a. BLLM and the tie line
b. Bearing and tie line
c. Bearing and distance from lot points
d. Bearing and lot points
1572. The essential elements of agency are the following, but not
a. Mutual consent of parties to established relationship
b. Object is the execution of a juridical act
c. Agent acts for himself
d. Agent acts within scope of authority
1573. The following are modes of extinguishing agency, except
a. Expiration of period
b. Withdrawal of agent
c. DEATH OF THE BUYER
d. Revocation
1574. The contract of agency may be terminated under the following circumstances, except
a. Accomplishment of purpose
b. REVOCATION BY THE BUYER
c. Death of the principal
d. Dissolution of firm which granted or accepted agency
1575. The initial step that a real estate broker undertakes in real estate brokerage is
a. Securing listing
b. Procuring prospect
c. Presentation and demonstration
d. Negotiation
1576. Refers to the authority given by the seller, buyer, lessor, lessee, owner, borrower or leader for the broker to negotiate the sale, purchase, lease,
mortgage or exchange of a real estate property
a. Owner’s authority
b. Listing
c. Authority to sell
d. Authority to buy
 Q&A In partnership with Miguelle D . Lansang
1577. In a listing, the following contents may be found, but not
a. Name, address and signature of the principal
b. Name, address and signature of occupants
c. Description of the property
d. Description of improvement, if any
1578. Mr. O gave an authority to sell to the real estate broker and may indicate the following in the authority, except
a. Period and conditions of the authority
b. Amount of rent and deposit
c. Price and terms
d. Rate of commission
1579. The best form of authority/listing that a real estate broker should get from the owner is a
a. Verbal listing
b. Written listing
c. Written listing and notarized
d. Written listing with a witness
1580. A verbal listing obtained by a real estate broker to lease the house of the owner is
a. Valid
b. Void
c. Without effect
d. No validity
1581. A method of property appraisal by estimating the fair market value of an improvement by estimating present reproduction cost and deducting
depreciation is:
a. Basic improvement approach
b. Cost approach
c. Income approach
d. Market data approach
1582. A listing to sell the land of the owner wherein two or more brokers are authorized to negotiate the sale of the property is referred to as
a. Double listing
b. Multiple listing
c. Non-exclusive listing
d. Public listing
1583. An authority obtained to be an exclusive broker but the broker will not be entitled to commission if the owner himself sells the property is
referred to as
a. Non-exclusive listing
b. Exclusive right to sell
c. Exclusive listing
d. Owner’s exclusive listing
1584. Mr. B got a listing to be the exclusive broker where the broker is entitled to commission even if the owner himself sells the property is referred to
as
a. Non-exclusive listing
b. Exclusive right to sell
c. Exclusive listing
d. Non-multiple listing
1585. As to function, the contract of agency of the real estate broker may involve the following, except
a. Sales agency
b. Leases agency
c. Exchange agency
d. General agency
1586. It is an authority given by a borrower for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers.
a. Mortgage agency
b. Loan agency
c. Creditor agency
d. Bank agency
1587. The buyer gave an authority to a broker to look for a property for sale and negotiate the purchase of said property and is referred to as
a. Purchase agency
b. Sale agency
c. Acquisition agency
d. Negotiation agency
1588. A listing wherein the broker will depend on the over price over the amount desired by the seller is referred to as
a. Net listing
b. Overprice listing
c. Open listing
d. Net overprice listing
1589. One wherein the fee of the exclusive broker is stipulated as a percentage of the total consideration/ selling price agreed is referred to as what
kind of listing
a. Net listing
b. Percentage listing
c. Exclusive listing
d. Listing overprice
1590. An appraisal technique in which comparative estimate are made between prices paid in actual transactions and the current listings:
a. Cost approach
b. Income approach
c. Market approach
d. Economic approach
1591. A real estate broker may obtain his listing for a condominium unit from the following, except
a. Newspaper classified ads and advertisements
b. Internet search (websites)
 Q&A In partnership with Miguelle D . Lansang
c. Physical search / ocular search in a subdivision
d. Co-brokers, real estate salesmen/agent
1592. This is a cooperative arrangement among real estate brokers whereby properties for sale or wanted by a broker is circularized to the others is
referred to ass
a. Cooperative listing
b. Public listing
c. Multiple listing
d. Public multiple listing
1593. Refers to one who has both no willingness and capacity to buy the property
a. Suspect
b. Prospect
c. Prospective buyer
d. Interested buyer
1594. When the loan is fully amortized by equal monthly payments, the amount applied to the principal :
a. Decreases while interest payment increases
b. Increases while interest decreases
c. Increase by constant amount
d. None of the above
1595. A buyer of a house and lot wanted to buy the property and had the capacity to borrow money ,from the bank to pay the balance of the purchase
price. The buyer shall be considered in real estate service practice as a
a. Suspect
b. Prospect
c. Potential purchaser
d. Bank loan buyer
1596. It is the process of showing the property and pointing out its physical attributes, features and qualities and other benefits and advantages as to
satisfy the needs of the buyer
a. Tripping
b. Site inspection
c. Presentation and demonstration
d. Negotiation
1597. The principle of value which states that the value of a property tends to be enhanced where there is reasonable homogeneity is use
a. Principle of highest and best use
b. Principle of conformity
c. Principle of increasing returns
d. Principle of progression
1598. The stage in brokerage wherein the broker reconciles the opposing views of the parties to the transaction- the buyer and the seller – as to price
and terms of the sale is referred to as
a. Mutual agreement
b. Negotiations
c. Bargaining
d. Reconciliation of terms
1599. The following are the items normally covered in the negotiations between the seller and the buyer in the purchase of a house and lot, but not
a. Price and terms
b. Expenses for execution and registration of the sale
c. Payment of condominium dues
d. Real estate taxes and other expenses
1600. The step in the real estate brokerage process where the minds of the parties meet and the buyer’ offer of price, terms and other conditions
finally become acceptable to the seller, or vice versa is referred to as
a. Final agreement
b. Closing
c. Finalization of sale
d. Deed of absolute sale
1601. It is referred to as the amount accompanying an offer to purchase to show the good faith or genuine desire of the buyer to purchase the
property of the private owner
a. Option money
b. Reservation money
c. Earnest money
d. Deposit
1602. In case the buyer pays an earnest money for the purchase of the lot on a deferred term, the earnest money shall
a. Form part of the reservation paid
b. Form part of the purchase price
c. Form part of the instalment payment
d. Form part of the final payment
1603. It is a contract between the seller and the buyer wherein the former, for a consideration binds himself to reserve the property for the latter to
purchase within a stipulated of time and at a specific price.
a. Contract to sell
b. Option contract
c. Contract to buy
d. Intent to buy
1604. This is paid by a lessee to the lessor to reserve the land for the lessee to decide whether to lease the land or not within a period of time at an
agreed rent
a. Deposit rental
b. Option money
c. Reservation money
d. Earnest money
1605. In the contract over the purchase of the property this amount is separate and distinct from the purchase price
a. Option money
b. Earnest money
 Q&A In partnership with Miguelle D . Lansang
c. Reservation deposit
d. Reservation money
1606. One of the reasons a buyer will initially give an option money to buy a parcel of land on cash is
a. Buyer would still like to study and decide whether to actually buy the property or not
b. Buyer does not have money to buy the property
c. Buyer wants to buy the property on instalment
d. Buyer prefers to rent to own the property
1607. It is an agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party known as escrow agent who is
authorized to release payment upon fulfilment or performance of some acts or conditions
a. Third party agreement
b. Deposit arrangement
c. Escrow agreement
d. Conditional payment agreement
1608. Some of the reason in entering into an escrow agreement are as follows, except
a. When the property is occupied by squatters and the seller assumes the responsibility to eject them
b. When the seller requests for time to vacate and to ensure delivery within the agreed period
c. When the buyer would need time before occupying the property
d. When title to the property has certain encumbrances which the seller has undertaken to cancel
1609. In general, when there are certain conditions which will still have to be performed by the seller and the buyer would like to ensure that these
conditions are fulfilled before full payment and the seller, the amount to be paid shall
a. Be put in a bank account of the buyer
b. Be put in escrow
c. Be deposited in time deposit
d. Be held by the real estate broker
1610. Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of the
following, but not
a. Supply
b. Demand
c. Desire
d. Price
1611. In general, this means the effect of one aspect of the economy with the other economic activities.
a. Economic effect
b. General economic effect
c. Multiplier effect
d. Economy aspect effect
1612. The multiplier effect of real estate in the Philippine economy as per the government plan is said to be in the estimated amount of
a. 1:10
b. 1:15
c. 1:20
d. 1:16
1613. A Certificate certifying that, based on the submitted project description, the project is not covered by the EIS System and is not required to
secure an environmental compliance certificate or ECC
a. Certificate of Non-Coverage
b. Certificate of Exemption
c. Certificate of Compliance
d. Certificate of Environment Compliance
1614. The housing or real sector provides and sets of a domino effect on other economic activities which can be referred to
a. Housing effect
b. Domino effect
c. Multiplier effect of real estate
d. Multiplier effect of housing
1615. It is basically a result of the interplay of supply and demand of a certain product, such as real estate housing
a. Multiplier effect
b. Price
c. Demand
d. Supply
1616. In the case where there are more than sellers of lots in a subdivision, then it is considered a
a. Oversupply of buyer
b. Seller’s market
c. Buyer’s market
d. Open market
1617. In the even there are many real properties available or more sellers than there would be a demand from the buyers, it is normally referred to as
a
a. Seller’s market
b. Seller’s market supply
c. Buyer’s market
d. Open market
1618. Rea estate financing involves the acquisition of property through loan financing sources, which may be sourced from the following, except:
a. Borrowed Funds from Relatives/ Friends
b. Discounted cash payment
c. Bank Financing
d. Assumption of Loan/Mortgages
1619. To compute monthly amortization on the instalment payments for the purchase of a lot, the formula to be used is
a. Interest multiplied by the loan amount
b. Amount to be financed multiplied by the amortization factor
c. Contract price multiplied by the amortization factor
d. No. of years payment multiplied by the amortization factor
1620. The following are modes of acquiring lands for purposes of Urban Development and Housing Act, except
 Q&A In partnership with Miguelle D . Lansang
a. Community mortgage
b. Negotiated purchase
c. Land swapping
d. Foreclosure
1621. The amortization factor to be used in the computation of the monthly amortization for the purchase of a house and lot shall be
a. Based on the value of the house
b. Based on the number of years and interest charges
c. Based on the interest charged
d. Based on the loan amount and interest
1622. The following are determinants of value kin appraisal of realty, except:
a. Substitution
b. Demand
c. Scarcity
d. Utility
1623. In order to get the amount to be financed, the computation to be used shall be
a. Total contract price minus the reservation deposit
b. Total contract price minus the downpayment
c. Total contract price multiplied by the interest rate
d. Total contract price divided by the no. of years instalment
1624. It is referred to as a financing source which will be provided by the developer of the subdivision
a. Bank financing
b. Buyer’s financing
c. In-house financing
d. Pag-ibig financing
1625. The principle holds that when two or more commodities with substantially the same utility are available , the one with the lowest price receives
the greatest demands and widest distribution
a. Principle of Contribution
b. Principle of Highest and Best Use
c. Principle of Substitution
d. Principle of Competition
1626. In order to get the amount being financed or loaned by the buyer of the lot, the formula to be used is
a. Principal amount multiplied by the amortization factor
b. Amortization factor multiplied by the total contract price
c. Monthly amortization divided by the amortization factor
d. Total contract price multiplied by the amortization factor
1627. A formula that may be used to get the amortization factor in case of instalment is
a. Monthly amortization divided by the amount financed
b. No. of years payment multiplied by the amount financed
c. The amount financed divided by the no. of months payment
d. Monthly amortization divided by the total contract price
1628. In case where there is a substantial amount payable at the end of every year of instalment, the amount paid at the end of each year may be
referred to as
a. Final payment
b. Balloon payment
c. Yearly payment
d. Year end payment
1629. The income approach to value is an application of the principle of:
a. Highest and best use
b. Substitution
c. Progression
d. Anticipation
1630. The total contract price is P5,000,000 for the sale of the house and lot but the buyer will pay a downpayment of 20%, but already paid a
reservation deposit of P20,000. How much will the buyer still pay for the downpayment
a. P 1,000,000.00
b. P 980,000.00
c. P 4,000,000.00
d. P 4,020,000.00
5M x 20% = 1M – 20K = 980K
1631. A parcel of land was bought on instalment and the buyer was to pay the balance in 3 years without interest. If the land’s total contract price is P
6,000,000 and the buyer paid a reservation deposit of P5,000 and thereafter paid the full downpayment of 25%, how much will the buyer pay
monthly for the 3 years
a. P 166,667
b. P 125,000
c. P 155,528
d. P 166,528
6M – 25%(6M) – 5K = 4,495,000/36
1632. A land survey always uses a fixed point of reference , it could be any of the following, except:
a. City Boundary Monument
b. Bureau of Lands Location Monument
c. Tie Line
d. Bureau of Land Boundary Monument
1633. Spouse who were married after the affectivity of the Family code without any pre-nuptial agreement shall be governed by:
a. Conjugal partnership of gains
b. Partial community of property
c. Partnership
d. Absolute separation of property
e. Absolute community of property
 Q&A In partnership with Miguelle D . Lansang
1634. The constitute negligence or failure to disclose or ascertain to any person with whom person a broker is dealing relative to the property and
within his knowledge at the time of the transaction, what matters must be broker disclose?
a. Previous owner of property or history of title
b. Fair market value of property
c. Location, topography and shape of property
d. Material fact, data or information
e. Whether property is updated in tax payments
1635. Mr. Villanueva inherited a piece of land when he was still single. Then he got married on October 1, 2000 without a marriage settlement. What
is the nature of the property not that he is married?
a. Exclusive property
b. Community property
c. Conjugal property
d. Separate property
e. Common property
1636. In the phrase “Save in cases of hereditary succession” in Sec. 7, Art. XII (national Economy and patrimony), Phil. Charter, what kind of
transferee of private land does it refer to?
a. The national government
b. An heir under Phil. Law on succession and inheritance
c. A humanitarian institution
d. The estate of the deceased
e. A charitable, religious and education institution
1637. The scope of brokerage are as follows, but not:
a. Authority to look for a property
b. Engagement to look for a buyer
c. Procurement of insurance for properties secured by real estate
d. Procurement of loans secured by real estate
e. Procurement of tenants for rental properties
1638. What land of the public domain is alienable and disposable?
a. Forest and timber lands
b. National packs
c. Forfeited/escheated lands
d. Abandoned private lands
e. Agricultural land
1639. A stipulation in an authority to sell that entitles the broker to a commission even beyond the period of his authority if he has registered his buyer
to his principal before the expiry date of his authority.
a. Open, non-exclusive listing
b. Authority to overprice
c. Hold over clause
d. Exclusive agency agreement
e. “First come, first served” rule
1640. To assure faithful and honest discharge of duties of a real estate broker, he is required to secure the following , EXCEPT
a. Bond
b. Insurance
c. Police clearance
d. Barangay clearance
e. NBI clearance
1641. R.A. 9225 (Citizenship Retention and Reacquisition Act) dated August 29, 2003, provides that natural born citizen of the Phils. Who have lost
their citizenship by reason of their naturalization as citizen of a foreign country are deemed to have reacquired Philippine citizenship (who shall
thereafter enjoy full civil and political rights) after compliance with what process?
a. Submission of an affidavit of good faith
b. Taking an oath of allegiance
c. Submitting DOJ with sworn statement of five (5) credible, Filipino guarantors
d. Deposit of PI million with the bid
1642. Any of these acts may be a ground for revocation of license, EXCEPT:
a. MISAPPROPRIATION
b. Misrepresentation
c. Paying and receiving rebate
d. Non-payment of association dues
e. Misleading ads
1643. A buyer on instalment who has paid at least two years of instalments, under Republic Act No. 6552, is entitled to a refund of 50% of total
payment effected during the first five years and an additional ___________________ every year but not to exceed 90% of total payment made.
a. Five (5%) percent
b. Fifty (50%) percent
c. Twenty (20%) percent
d. Thirty (30%) percent
e. Ten (10%) percent
1644. The zonal value of a property can be obtained from:
a. Bureau of Internal Revenue
b. Registry of Deeds
c. Office of the Sheriff
d. Assessors, Office
e. Land Registration Authority
1645. The “bundle of rights theory” also means:
a. Rights of land beneficiary
b. Rights in fee simple
c. Rights of a vendee-a-retro
d. Rights of buyer
e. Rights of vendor
 Q&A In partnership with Miguelle D . Lansang
1646. A real estate mortgage that cover several properties is called:
a. Closed mortgage
b. Conventional mortgage
c. Blanket mortgage
d. Equitable mortgage
e. Open mortgage
1647. Husband and wife can not sell property to each other except when a separation of property is agreed upon in the “ante-nuptial” contract and,
a. When their property relationship is one of absolute community of property
b. When one of the spouses is still a minor
c. When there is a pending annulment of their marriage
d. When one of the spouse is accused of infidelity
e. When there is a judicial separation of property
1648. A contract which is merely an executor contract or a mere promise to sell with no transfer of ownership.
a. Contract of sale
b. Conditional contract of sale
c. Deed of sale with “Parto de Retro”
d. Contract of sell
e. Deed of absolute sale
1649. The inherent rights of the state that restricts property rights are as follows, except
a. Eminent Domain
b. Taxation
c. Escheat
d. Expropriation
e. Police Power
1650. Right to foreclosure of real estate mortgage prescribes in
a. 1 year
b. 5 years
c. 10 years
d. 12 years
e. 3 years
1651. Under RA 891 , the maximum redemption period after extrajudicial foreclosure of mortgage executed by a corporation in favour of a bank is:
a. 9 months
b. 18 months
c. 3 months
d. 6 months
e. 12 months
1652. The contract of lease shall be binding even on third parties if the contract of lease is
a. Recorded with the Civil Registry
b. Duly notarized
c. Recorded in the Registry of Property
d. In writing and duly notarized
e. In writing
1653. On a Pacto de Recto contract of sale which there is no stipulation of the period to which the vendor shall have the right to buy back or redeem
of the property. The period of redemption shall be:
a. Two (2) years
b. Four (4) years
c. Eight (8) years
d. Sic (6) years
e. Ten (10) years
1654. The act of the broker who is instrumental in effecting the meeting of minds between the seller and the buyer as to price and terms and is one of
the requisites for entitlement to commission.
a. Procuring cause
b. Acceptance of earnest money
c. Conformity to listing authority
d. Exclusive right to sell
e. Hold-over clause
1655. A right given for a consideration to purchase or lease a property upon specified time.
a. Bill
b. Earnest Money
c. Plus Factor
d. Option
e. Time Frame
1656. What is a prospect?
a. A person who has the capacity but without the willingness
b. A person who has the interest to buy in the future
c. A person who has the willingness but does not have the capacity
d. A person who is in need and can afford to buy
e. A person who is willing to buy but not immediately available.
1657. The following are the requirements for the entitlement of a commission except
a. Procurement of a ready, willing and able buyer
b. The broker must be a licensed real estate appraiser
c. Authority from the principal
d. Broker closed the sale at terms, price and conditions authorized by the principal
e. Procuring cause for the sale
1658. a kind of possession of property that is actual, continuous adversarial, visible and is required as an element of prescription
a. adverse possession
b. possession physical and public
c. adverse claim
 Q&A In partnership with Miguelle D . Lansang
d. possession without claim of title
e. possession in good faith
1659. In his dry seal, letterhead, advertisement or announcements, the real estate broker must indicate his
a. personal circumstances
b. email address
c. provincial address
d. fax number
e. license number
1660. Which of the following lands of the public may be alienated or disposed of by the government:
a. Forest
b. National Parks
c. Timberland
d. Agricultural
e. Mineral
1661. The following are lands of the public domains, except
a. Forest
b. National Parks
c. Commercial
d. Agricultural
e. Mineral
1662. In case of a sale of land, the Register of Deeds will note int the original and the owner’s duplicate of grantor’s certificate and shall be stamped
as follows:
a. “Transferred”
b. “Sold”
c. “Cancelled”
d. “Supersede by”

REB Mock Exam

1663. Real property includes the following types of property:

a. Land
b. Buildings
c. Interest thereon
d. All of the above
1664. The right to possess, use, enjoy the fruits, dispose, recover, and exclude others from property is generally called –
a. Civil rights
b. Bundle of rights
c. Constitutional rights
d. None of the above
1665. Under the Civil Code, rental income from a building is considered a
a. Civil fruit
b. Industrial fruit
c. Natural fruit of property
d. Commercial revenue
1666. AN ABSOLUTE, UNRESTRICTED ESTATE IN PERPETUITY TO PROPERTY IS CALLED –
a. Estate for years
b. Freehold
c. Tenancy
d. None of the above
1667. THE FOLLOWING IS CONSIDERED INTANGIBLE PROPERTY –
a. Ownership of the air rights above land
b. Ownership of the building on the land
c. Ownership of a franchise contract
d. Ownership of the fruits of the trees on the land
1668. When a river opens a new bed by its natural flow in private land, the new bed shall –
a. Be acquired by the government from the private land owner;
b. Become a public dominion
c. Be exchanged for other public lands
d. None of the above.
1669. The finder of hidden treasure in a property not belonging to him is entitled to –
a. 0% of the treasure if he is not a trespasser
b. All of the treasure
c. 25% of the treasure if he is a trespasser
d. None of the treasure
Answer: 50% allowed to the finder. Art. 438 CCP
1670. The State’s power to take away private property for public use upon just compensation
a. Taxation
b. Escheat
c. Eminent domain
d. Zoning
1671. The State’s power to own a property left by a person who died without an heir or a will is –
a. Escheat
b. Eminent domain
c. State inheritance
d. Confiscation
1672. Voluntary restrictions on property ownership includes the following, except –
a. Lease contracts
b. Easements
 Q&A In partnership with Miguelle D . Lansang
c. Taxes
d. Usufruct
1673. Quieting of Title means –
a. To ban the Owner from obtaining a copy of the property’s title
b. To bring to court an action involving a question of ownership or rights to a property
c. To cancel the title of the property
d. To apply for a new title to replace that which was lost
1674. The Philippine’s titling system is based on the Torren’s system developed by a person from –
a. Spanish colonial government
b. Australia
c. American government
d. Commonwealth government
1675. The title or property ownership granted by the DENR is known as the –
a. Free patents
b. Confirmation of Title
c. Certificate of Land Ownership
d. Transfer Certificate of Title
1676. A form of property ownership document issued by the Department of Agrarian Reform –
a. Homestead patent
b. Transfer Certificate of Title
c. Certificate of Land Ownership
d. Warranty Deed
1677. The following modes of acquiring title are considered involuntary, except –
a. Expropriation
b. Foreclosure
c. Execution by Sheriff to satisfy judgment
d. Inheritance through a will of the decedent
1678. A person who was born before __________ of Filipino mother, foreign father, can become a citizen of the Philippines at the age of majority –
a. January 17, 1973
b. August 3, 1988
c. August 17, 1947
d. June 12, 1946
1679. Land that is classified as “public domain” includes the following land not privately owned, except –
a. Agricultural land
b. Forest
c. Mineral land
d. Farms owned by Filipino citizens
1680. The following lands of the public domain may be acquired by private citizens
a. Forest lands
b. Mineral lands
c. Old national parks
d. Agricultural lands
1681. Filipino citizens may acquire up to ______ of land that is alienable public domain –
a. 500 hectares;
b. 1000 hectares;
c. 10 hectares;
d. 12 hectares
1682. A person can apply for ownership of alienable agricultural land if he has continuously occupied the same in good faith and there are no other
claimants/applicants for –
a. 10 years
b. 15 years
c. 20 years
d. 30 years
1683. Extraordinary adverse possession or prescription in bad faith means that a person can apply for ownership of alienable agricultural land if he
has continuously occupied the same for --
a. 10 years
b. 15 years
c. 20 years
d. 30 years
1684. Under the Civil Code, the following are deemed personal property, except –
a. In general, all things which can be transported from place to place;
b. Obligations and actions which have for their object movables or demandable sums;
c. Fertilizer actually used on a piece of land;
d. Shares of stock of agricultural, commercial and industrial entities, although they may have real estate.
1685. A PROPERTY THAT IS FUNGIBLE means that it is a good or commodity which –
a. Can be transferred from one place to another;
b. Can easily deteriorate ;
c. Can be substituted for another good or item.
d. Is liquid or easily sold
1686. PATRIMONIAL PROPERTIES OF THE STATE are –
a. Properties considered as public dominion
b. Properties owned by the State or any of its instrumentalities in a private capacity
c. Properties expropriated by the State from the private sector to be used for roads
d. Properties belonging to individuals working in the government
1687. Properties of public dominion are the following , except –
a. Properties of the State intended for public use by anybody;
b. Properties of the State reserved for the development of national wealth like natural resources
c. Properties of the State to be used for public service
 Q&A In partnership with Miguelle D . Lansang
d. Properties of the State that can be sold to the private sector
1688. The following is not a characteristic of a property considered as public dominion –
a. The property is outside the commerce of man, cannot be leased, donated or sold;
b. The property can not be registered under the LRA
c. The property can be sold by the State
d. The property can not be acquired by prescription.
1689. Former natural-born Filipinos can acquire land for residential purposes, up to 1,000 sq. meters urban areas or 1 hectare in rural areas, under –
a. R.A. 7042
b. B.P. 185
c. R.A. 10023
d. R.A. 9225
1690. Former natural-born Filipinos can also acquire land for business purposes, up to 5,000 sqm in urban areas or 3 hectares in rural areas, under –
a. R.A. 7042
b. B.P. 185
c. R.A. 10023
d. R.A. 9225
1691. Former natural-born Filipinos can regain their citizenship and be able to own land without limit, under –
a. R.A. 7042
b. B.P. 185
c. R.A. 10023
d. R.A. 9225
1692. Private corporations are entitled to own private lands not in excess of ______ hectares if 60% of the capital is owned by Filipinos entitled to
acquire and own private land –
a. 1,024 hectares.
b. 12 hectares .
c. 2000 hectares .
d. 50 hectares .
1693. Private corporations whose capital is 60% Filipino may lease up to ______ hectares of land:
a. 1,024 hectares.
b. 12 hectares.
c. 2000 hectares .
d. 50 hectares
1694. A written instrument used to transfer title must have the following, except –
a. Grantor and grantee
b. Selling price of the property
c. Words of conveyance
d. Signature of Grantor and Notarization
1695. To be valid, a contract to sell or buy property must have the following, except –
a. Consent of the contracting parties
b. Cause or consideration
c. An object certain
d. Approval of the government
1696. Co-ownership by both spouses of all properties of the spouses acquired during the marriage only, except for exclusive properties, constitutes a
property relationship known as –
a. Absolute community
b. Absolute separation
c. Conjugal partnership of gains
d. None of the above
1697. Co-ownership by both spouses of properties acquired before and during the marriage, except for exclusive properties, constitutes a property
relationship known as –
a. Absolute community
b. Absolute separation
c. Conjugal partnership of gains
d. None of the above
1698. A PROPERTY ACQUIRED BY GRATUITOUS TITLE MEANS –
a. A property purchased by only one of the spouses
b. A property inherited by any of the spouses
c. A property purchased using the money of both spouses
d. A property won in a lottery
1699. The winnings of one of the spouses from gambling shall become –
a. The spouse’s own personal exclusive property
b. Co-owned by both spouses
c. The property of the entire family
d. Assets at the sole disposal of the lucky spouse
1700. JEWELRY BOUGHT AND ACCUMULATED BY A WIFE IS CONSIDERED
a. Her personal property.
b. Co-owned by both spouses
c. Owned by the entire family
d. None of the above.
1701. In case of a disagreement as to the administration of a co-owned property –
a. Both spouses must consult a court of law.
b. The entire family, including the children, shall decide.
c. The husband’s decision shall prevail
d. The wife has the final decision.
1702. The following is not considered a “muniment” of ownership –
a. Transfer certificate of title
b. Tax declaration.
c. Realty tax payment receipt
 Q&A In partnership with Miguelle D . Lansang
d. Affidavit of ownership
1703. In accordance with RESA Law, a Code of Ethics shall be prepared by the ____________ and adopted for observance by all real estate service
practitioners.
a. All existing real estate service association
b. Accredited Integrated Professional Organization
c. Professional Regulation Commission
d. Professional Regulatory Board for Real Estate Service
1704. Prior to the final approval of the new Code of Ethics under RESA Law, the following has been considered applicable –
a. No code of ethics
b. The Code of Ethics of each realty association
c. The Golden Rule
d. National Code of Ethics for Realty Service by DTI, 1993
1705. The “Golden Rule” is a universal guide which means –
a. Treat others as you like them to treat you
b. An eye for an eye
c. Do unto others as they do unto you
d. Treat others as if they are your family
e. To be fair to all
1706. The Rules of Conduct and Practice in the Realty Code of Ethics defines the practitioner’s relations to the following, except --
a. Government and the public
b. His organization and the national association to which it belongs
c. Clients/Customers and fellow practitioners
d. His family, relatives and close friends
1707. Which of the following is not needed by the real estate service practitioner before practicing –
a. Mayor’s permit with the LGU
b. Professional tax receipt from the LGU
c. BIR Certificate of registration
d. Professional I.D. and license from the PRC
1708. The following are the rules of conduct in relation to the government, except –
a. Secure all needed permits and licenses before practicing
b. Register and incorporate a corporation with SEC or a business name with DTI
c. Assist government in zonification and conservation of real estate.
d. Do not abet, tolerate or participate in tax evasion
1709. A real estate practitioner has the obligation to inform government about deceptive, unfair and unconscionable acts of other unscrupulous
practitioners as part of his duty to –
a. Abide by the rules of conduct in relation to government
b. Protect the interest of the public
c. Protect and promote the interest of his clients
d. Abide by the rules of conduct ion relation to fellow practitioners.
1710. The real estate practitioner’s duty to the public does not include –
a. Offering free consultancy services to the public
b. Ensuring the highest and best use of land.
c. Not introducing in a neighborhood a use of property which will impair its value.
d. Presenting a true picture of property he advertises
1711. A real estate broker who has an authority to sell from the seller may be guilty of unethical conduct if he -
a. Pays a commission to another broker who referred the buyer
b. Also asks for a commission from the buyer
c. Pays a fee to a facilitator who helps process the transfer of the property
d. None of the above are unethical
1712. A real estate broker’s application for accreditation to sell a developer’s project was approved only to find out that the project does not yet have a
license to sell. The broker should –
a. Immediately resign his accreditation.
b. Refrain from selling the project until its LTS has been approved.
c. Report the developer to the HLURB.
d. Do nothing.
1713. The relative of a prospective Buyer was the one who referred the Buyer and is asking you as a broker to over-price the property offered. Your
response shall be –
a. Refuse it outright at the risk of losing the sale.
b. Report the relative’s request of over-pricing to the Buyer.
c. Instead, offer the relative a share of your commission subject to prior disclosure to the Buyer.
d. Cancel the transaction.
1714. A broker who holds a non-exclusive authority to sell writes letters to several real estate organizations offering all their members an extension
listing, then informing his client that he has extended his listing to several real estate associations. His action can be interpreted as –
a. A sign of his generosity because he is offering an extension of his listing to large groups.
b. A sign of his desire to please his Client and expedite the sale.
c. A strategy to pre-empt many other brokers from applying for accreditation with the owner.
d. All of the above.
1715. A real estate broker who just closed the sale for his Client may agree to do the following, except –
a. Prepare the deed of sale
b. Process the documents needed to transfer the title for an extra facilitation fee
c. Rebate part of his commission to the Buyer’s wife without his knowledge
d. Assist the Buyer to negotiate a mortgage with a banking institution.
1716. A broker receives several offers to buy for one of the properties in his list. He should –
a. Show the Client only the highest offer.
b. Show the Client the offer made by a prospective buyer who is his distant relative.
c. Show the Client all the offers.
d. Show other offerors the highest offer so they can top the price.
1717. A seller’s broker receives several offers for a property, none of them equal to or higher than the Seller’s asking price. He should –
 Q&A In partnership with Miguelle D . Lansang
a. Start negotiating with the Owner to reduce the price.
b. Show the Owner all the offers for his decision.
c. Start negotiating with the highest offeror to increase his price.
d. All of the above actions are alright.
1718. A dispute has arisen between a broker’s Client and one of the prospective buyers who put in an earnest money but did not proceed with the
sale and is requesting a refund. Both parties are in court. The broker shall –
a. Testify in favor of his Client
b. Testify in favor of the Buyer
c. Testify only as to the facts in an unbiased and honest manner
d. Refuse to participate in the court proceedings.
1719. A broker finds out that another broker who has an exclusive listing has not been successful in selling a property for nearly a year. He recently
met the Owner’s relative and may –
a. Approach the Owner and offer his services
b. Do not offer his services because it is listed by another broker exclusively
c. Gain an introduction to the exclusive broker and offer his services as co-broker
d. Do nothing and look for another listing.
1720. A salesman who is accredited by a fellow broker wishes to help you sell your listings on a referral fee basis. As a professional broker, you
should –
a. Refuse to deal with the salesman of another broker.
b. Immediately report the said salesman to his principal.
c. Ask the salesman to seek permission from his principal.
d. Offer to hire the salesman
1721. A broker plans to post a sign giving notice that the property is for sale. He should –
a. Post the sign without need for any approvals
b. Post the sign but subject to prior approval of the owner and other brokers who also have a sign
c. Not post any signage at all
d. Post a shared sign with the other broker who is also authorized to sell the property
1722. In case there is a controversy between two brokers regarding the sharing of commission, they shall –
a. Allow the Seller and the Buyer to decide the sharing percentage.
b. File a case in court to resolve the issue.
c. Refer the problem to an Arbiter.
d. Refer the matter to their respective lawyer.
1723. Also known as a -- “valuer”, refers to a person licensed to conduct valuation:
a. Assessor
b. Appraiser
c. Estimator
d. Value consultant
1724. What aspects of real estate property are included in the assessment made by an assessor?
a. Land
b. Improvements
c. Plant, equipment and machinery
d. All of the above
1725. The following are considered real estate service practitioners, except:
a. Real estate consultant
b. Real estate appraiser
c. Real estate lenders
d. Real estate assessor
e. Real estate broker
1726. The Professional Regulatory Board of Real Estate Service is composed of a chairperson and –
a. 6 members
b. 5 members
c. 4 members
d. 3 members
1727. At least _____ members of the PRB-RES shall represent government assessors and appraisers:
a. Three
b. Two
c. One
d. None
1728. Which of the following is not a required qualification of the Chairperson and Members of the PRB-RES?
a. A citizen and resident of the Philippines;
b. A holder of a bachelor's degree related to real estate;
c. Licensed practitioner of real estate service for at least 10 years prior to appointment;
d. An officer or trustee of the accredited integrated organization for real estate service;
e. Of good moral character, and must not have been convicted by final judgment;
1729. The term of office of the chairperson and the members of the PRB-RES is –
a. 7 years
b. 5 years
c. 3 years
d. Up to the president of the Phil.
1730. The following are the current basic qualifications to be admitted to the licensure examination for real estate broker, except for --
a. A citizen of the Philippines;
b. A holder of a relevant bachelor's degree from a state university or college, or other educational Institution duly recognized by the CHED:
c. Of good moral character, and must not have been convicted of any crime involving moral turpitude:
d. Experience of at least 2 years in any occupation involving real estate service;
1731. All real estate brokers and private real estate appraisers are required to post a professional indemnity insurance/cash or surety bond, renewable
every3 years, in an amount which in no case shall be less than –
a. P 50,000.
b. P 40,000.
 Q&A In partnership with Miguelle D . Lansang
c. P 25,000.
d. P 20,000.
1732. Which of the following acts requires licensure in real estate service as a broker –
a. A person selling his own property, except real estate developers;
b. A receiver, trustee or assignee in bankruptcy or insolvency proceedings;
c. A person acting pursuant to the order of any court of justice;
d. A person acting as attorney-in-fact to sell a property without any compensation or remuneration;
e. None of the above
1733. For real estate salespersons, no examination shall be given, but they shall be accredited by the Board provided they have completed at least
_____ years of college :
a. 4 years
b. 3 years
c. 2 years
d. one year
e. No need
1734. For partnerships or corporations engaged in selling real estate, there shall at least be one (1) licensed real estate broker for every _____
accredited salespersons.
a. 25
b. 20
c. 15
d. 10
e. 5
1735. The following information is not required in signing documents in connection with the practice of real estate service:
a. Certificate of registration number with PRC
b. Privilege Tax Receipt number and expiry date
c. BIR Certificate of registration Number and expiry date
d. Professional Identification Card expiry date
e. APO membership number and expiry date
1736. The PRC released Resolution 2013-774 effective August 10, 2013 which pertains to –
a. Revised fees for renewal of licenses
b. List of newly-passed appraisers
c. Schedule of the 2014 board examinations
d. CPD Guidelines
1737. The PRC Modernization Act –
a. R.A. 8981
b. R.A. 8974
c. R.A. 8532
d. R.A.8435
1738. The requirement for renewal of licenses of real estate practitioners once every 3 years is –
a. 30 CPD units
b. 45 CPD units
c. 60 CPD units
d. 12 CPD units
1739. For every hour of lecture, a resource speaker or lecturer can earn the following number of CPD units.
a. One (1)
b. Three (3)
c. Four (4)
d. Five (5)
Answer: 6 cu per hour (CPD Guidelines 2018)
1740. The following activities are entitled to CPD credit units as part of “self-directed learning” , EXCEPT –
a. Real estate training module on the internet
b. Research paper on real estate industry
c. Read a new book on real estate service
d. Relevant short-term post-graduate course
1741. The CPD Council for Real Estate Service is composed of ____ members.
a. Five (5)
b. Four (4).
c. Three (3)
d. Two (2).
1742. The IRR of R.A. 9646 was enacted in –
a. June 2009.
b. July 2009 .
c. June 2010 .
d. July 2010.
1743. The basic law governing persons, properties, obligations and contracts.
a. 1987 Constitution.
b. E.O. 209 Family Code.
c. R.A. 386, Civil Code
d. R.A. 8424.
1744. The basic law governing relationships between spouses .
a. 1987 Constitution.
b. E.O. 209 Family Code .
c. R.A. 386, Civil Code.
d. R.A. 8424.
1745. The basic law governing national taxation .
a. 1987 Constitution.
b. E.O. 209 Family Code.
c. R.A. 386, Civil Code.
 Q&A In partnership with Miguelle D . Lansang
d. R.A. 8424
1746. The law allowing former natural-born Filipinos to re-acquire citizenship
a. 1987 Constitution.
b. R.A. 9225 .
c. R.A. 7042.
d. R.A. 6809.
1747. The law which reduced the age of majority to 18 years old –
a. 1987 Constitution
b. RA 9225
c. RA 7042
d. RA 6809
1748. The law allowing former Filipinos to acquire land for residential purposes.
a. 1987 Constitution.
b. R.A. 9225.
c. R.A. 7042 amended by RA 8179.
d. B.P. 185 .
1749. The law allowing former Filipinos to acquire land for business purposes .
a. 1987 Constitution.
b. R.A. 9225.
c. R.A. 7042
d. B.P. 185.
1750. The law which allows aliens to lease land for 25 years, renewable another 25 years –
a. RA 6552
b. PD 471
c. RA 7042
d. RA 8179
1751. The law which allows alien investors to lease land for 50 years, renewable another 25 years –
a. RA 7652
b. PD 471
c. RA 7042
d. RA 8179
1752. The law that established the Torrens system in the Philippines .
a. Act 926.
b. Act 496 .
c. Act 2259.
d. C.A. 141.
1753. The law which prescribed the rules for administrative reconstitution of lost titles –
a. PD 1529
b. RA 6732
c. RA 8974
d. PD 892
1754. The Magna Carta for Homeowners and Homeowners Associations –
a. RA 6552
b. RA 9225
c. RA 8974
d. RA 9904
1755. Also known as the Property Registration Decree which updated Act 496.
a. P.D. 1529.
b. R.A. 6732 .
c. R.A. 8974.
d. P.D. 892.
1756. The Land Computerization Project of the LRA will not allow the following –
a. Query on land titles from any RD office nationwide
b. Conversion of paper documents into digital files
c. Speeding up the process of generating and issuing digital copies of titles
d. Guaranteeing that there will be no fake titles
1757. In the Commonwealth era, C.A. 141 became the new Public Land Act and provided for the following, except –
a. Allowed both judicial and administrative proceedings for land titling
b. Re-affirmed land distribution through patents
c. Establish the system for taxation of land.
d. Allowed patents to be brought into the Torrens system
1758. The government agency in charge of administering, surveying and disposing “Alienable and Disposable (A&D) lands –
a. Land Management Bureau.
b. National Housing Authority
c. Land Registration Authority
d. Housing & Land Use Regulatory Board
1759. The Land Management Bureau is under the jurisdiction of the –
a. DENR
b. DAR
c. DPWH
d. DOJ
1760. The field offices of the Land Registration Authority is known as –
a. Civil register
b. Land registration commission
c. Register of Deeds.
d. General Land Registration Office
1761. A homestead is a piece of property awarded to a beneficiary under the following rule –
a. He must build a home within five years of award
 Q&A In partnership with Miguelle D . Lansang
b. He must begin to cultivate the land within 6 months
c. He must finish building a farm on the property within one year
d. He need not reside in the property
1762. R.A. 10023 enacted in 2010, provides for A FREE patent for residential land with the following limitations –
a. Maximum of 1,000 sqm urban land or 1 hectare rural land
b. Maximum 200 sqm highly urban, 500 in other cities, 750 sqm in first-second class municipalities, 1,000 sqm in other municipalities.
c. Maximum of 3 hectares
d. Maximum of 12 hectares
1763. A procedure which allows a person to file an action that will record his claim in a property titled to another person –
a. Property complaint
b. Lis pendens
c. Adverse claim
d. Petition to quiet title
1764. The State’s power to own a property left by a person who died without an heir or a will is –
a. State inheritance
b. Escheat
c. Eminent domain
d. Confiscation
1765. The Torrens system of land registration was established in the Philippines by virtue of –
a. Spanish mortgage law
b. Act 496 (1903)
c. Presidential Decree 27
d. R.A. 6557
1766. Which of the following documents does not fall under the Torrens system –
a. Original certificate of title
b. Transfer certificate of title
c. Reconstituted certificate of title
d. Cooperative certificate of title
e. Condominium certificate of title
1767. A new title to property to be created through an administrative procedure by the concerned government agency will require the issuance of a –
a. Decree of registration
b. Patent
c. Land ownership award
d. Original certificate of title
1768. Under R.A. 6732, administrative resolution of lost or destroyed original copies of titles can be availed of when the certificates lost or destroy are
at least.
a. 10% of all titles in the registry
b. 30% of all titles in the registry
c. 20% of all titles in the registry
d. 40% of all titles in the registry
e. None of the above
1769. A TCT has an annotation that says “subject to sec.4 Rule 74 of the Rules of Court.” It means that the property is subject to claim by any heir
unduly deprived of lawful participation in the settlement of the decedents estate within
a. 2 years
b. 4 years
c. 6 years
d. 10 years
e. None of the above
1770. Recording of a real estate instrument can be given due course even without the presentation of the owner’s duplicate certificate of title when
the document is:
a. Notice of adverse claim
b. Notice of Lis Pendens
c. Writ of attachment
d. All of the above
e. None of the above
1771. Which of the following are not considered money claims or charges against the property --
a. Real estate tax liens
b. Mechanic’s Liens
c. Mortgage lien
d. Judgment Liens
e. Deed of restrictions
1772. When a claim contesting ownership of property is brought to court litigation, the following may be annotated in the back of the certificate of title
–
a. Real estate lien
b. Lis pendens
c. Deed of restrictions
d. All of the above
1773. The Land Registration Authority (LRA) is an agency under the jurisdiction of –
a. Office of the president
b. DENR
c. DOJ
d. DILG
1774. The document issued by the BIR which is required for titling –
a. Tax clearance certificate
b. Certificate authorizing registration
c. Certificate of registration
d. All of the above
1775. THE TERM “PATRIMONIAL PROPERTY” applies to –
 Q&A In partnership with Miguelle D . Lansang
a. Land owned by the government which is not intended for public use
b. Land for public use like roads, canals, rivers, ports and bridges
c. Land owned by the State and classified as agricultural
d. Ancestral lands owned by original settlers
1776. A form of land ownership document issued as the initial part of agrarian reform proceedings –
a. Homestead patent
b. Free patent
c. Certificate of land ownership
d. Original certificate of title
1777. R.A. 6552 or the Realty Installment Buyer Act covers the following.
a. Installment sales of all kinds of real estate properties;
b. Installment sales of residential properties where buyer has paid for 2 years;
c. Installment sales for residential condos only.
d. Installment sales for properties with a mortgage.
1778. Under R.A. 6552, an installment buyer has the following grace period –
a. Minimum of 60 days;
b. One month for every year of installment payments made;
c. Thirty days.
d. Both “A” and “B” are applicable.
1779. Under R.A. 6552, the installment buyer whose contract is cancelled can get a partial refund equal to -
a. 100% of all installment payments minus the developer’ sales expenses;
b. 50% of total payments regardless of how long the buyer has been paying;
c. 50% of total payments plus additional of 5% per year in excess of 5 years, maximum at 90%;
d. 50% of total payments plus additional of 5% per year of installment.
1780. A buyer who has been paying monthly installments of PhP 12,500 for 8 years and 3 months decided to quit. How much is the cash surrender
value?
a. PhP 600,000.
b. PhP 618,750.
c. PhP 804,375.
d. PhP 819,843
Sol. 12500×93months×65%
1781. The following types of taxes apply to real estate transactions, except –
a. Value-added tax
b. Creditable income tax
c. Excise tax.
d. Percentage tax
1782. In computing the amount of value-added tax to be paid in a real estate transaction, the following is not considered –
a. Gross receipts
b. Output tax
c. Input tax
d. Documentary stamp tax
1783. If the selling price of P 2,240,000. already includes the VAT, and the sales occurred after Feb. 1, 2006, then the net price is –
a. P 2,000,000.00.
b. P 1,971,200.00
c. P 2,508,800.00
d. None of the above.
Sol. 2,240,000÷1.12% or 2.240M×12/112 = 240k-2240M
1784. The sale of a house and lot by a developer at a price below this amount is exempted from VAT – (2021)
a. P 1,919,500
b. P 3,199,200.
c. P 1,500,000.
d. P 2,500.000.
1785. As a real estate broker, if your total gross receipts in one year is below this amount, you can apply to be a non-VAT entity –(2021)
a. P 1,500,000.
b. P 1,919,500..
c. P 2,500,000.
d. P 3,199,200.
1786. Lease of residential units below this amount per month is not subject to VAT –
a. P 10,000.
b. P 12,000.
c. P 12,500.
d. P 12,800.
1787. This tax is not imposed by the Bureau of Internal Revenue –
a. Income tax
b. Value-added tax
c. Percentage tax
d. Documentary stamps tax
e. None of the above
1788. The following tax is imposed by the Bureau of Internal Revenue:
a. Transfer tax
b. Capital gains tax
c. Realty tax
d. Privilege tax
1789. FOR TAXATION PURPOSES, “GROSS SELLING PRICE ” IN THE SALE OF PROPERTY BY A VAT REGISTERED ENTITY MEANS –
a. Total amount involved, excluding VAT
b. Total amount involved, excluding commission
c. Total amount involved, including VAT
d. Total amount involved, including commission
 Q&A In partnership with Miguelle D . Lansang
1790. The sale of the following is not exempt from VAT –
a. Sale of agricultural and marine products
b. Revenue of medical and educational services
c. Services that are subject to percentage tax
d. None of the above
1791. VAT returns (form 2550M) containing the amount of net output tax payable must be filed
a. Monthly
b. Quarterly
c. Annually
d. None of the above
1792. In lieu of the VAT, a person whose sales or receipts is exempt from payment of VAT and who is not a VAT-registered person, does not have to
pay the following tax –
a. Creditable withholding tax
b. Percentage tax
c. Output tax
d. Privilege tax
1793. The owner wants a net proceed of P1,750,000.00 exclusive of capital gain tax, documentary stamps and 5% broker’s commission. How much
would be the selling price so that the broker can maintain his 5% commission?
a. P 1,668,750.00
b. P 1,680,000.00
c. P 2,000,000.00.
d. P 2,200,000.00
Sol. 1.750M/100% -6%CGT – 1.5% - 5%COM
1794. The bank’s acquired assets which form part of its real estate inventories at the close of its accounting period shall be classified as:
a. Ordinary assets
b. Capital assets
c. Fixed assets
d. None of the above
1795. The BIR Revenue Regulation No. 17-2003, the seller of family home who failed to utilize the proceeds to acquire a new residence within 18
months from the sale shall be assessed additional deficiency capital gains tax inclusive of penalties and interest of --
a. 10% per annum
b. 20% per annum
c. 15% per annum
d. 25% per annum
1796. The annual registration fee for VAT registered entity i s –
a. 500.00
b. P1,000.00
c. P1,500.00
d. None of the above
1797. The documentary stamp tax on the sale of the property must be paid –
a. Within 30 days from the date of notarization
b. Within five (5) days after the close of the month of the date of sale.
c. Within ten (10) days after the close of the month of the date of sale
d. At the time of payment of the capital gains tax
1798. If the property is an ordinary asset, what is the applicable tax?
a. Capital gains tax
b. Percentage tax
c. Creditable Withholding Tax.
d. Excise tax
e. Estate Tax
1799. Under the Local Government Code, agricultural lands more than one hectare are subject to additional tax of not more than 5% assessed value
when at least:
a. One-half of the area is uncultivated.
b. Forty percent of the area is uncultivated
c. The entire is cultivated
d. Thirty percent of the area is uncultivated
e. None of the above
1800. The chairman of the Local Board of Assessment Appeals in a city is:
a. City auditor
b. City mayor
c. City Engineer
d. City register deeds
e. None of the above
1801. The rate of real estate tax in municipalities within the Metro Manila is not more than:
a. One-half percent of assessed value
b. One percent of assessed value
c. Two percent of assessed value.
d. None of the above
1802. Per BIR 28-98, the ground floor of a condominium project shall be considered as commercial and an additional rate shall be added to an
established residential zonal value.
a. 10%
b. 20% ?
c. 25%
d. 50%
e. None of the above
1803. As annual levy on real estate equivalent to 1% of assessed value which shall be in additional to be basis real estate tax is:
a. Special real estate tax
b. Special education fund tax.
 Q&A In partnership with Miguelle D . Lansang
c. Ad valorem tax
d. Special assessment fund tax
e. Excise tax
1804. The value placed on taxable property by the assessor for ad valorem tax purpose is:
a. Market value.
b. Economic value
c. Assessed value
d. Assessment value
e. Appraised value
1805. The documentary stamp tax for a deed of real estate mortgage is: (2021)
a. P15.00 for every P1,000.00 of the mortgage amount
b. P10.00 for every P1,000.00 of the mortgage amount
c. P10.00 for the first P5,000.00 of the mortgage amount plus P5.00 for every P5,000.00 thereafter
d. P40.00 for the first P5,000.00 of the mortgage plus P20.00 for every P5,000.00 thereafter
1806. Unless validated, tax credit life span is only
a. 1 year
b. 2 years
c. 3 years
d. 4 years
e. 5 years
1807. In payment of real estate tax, an allowed deduction to the gross estate of a decedent is funeral expense which is:
a. 5% OF GROSS ESTATE OR P200,000.00 WHICHEVER IS LOWER
b. 5% of gross estate or P200,000.00 whichever is higher
c. 10% of gross estate or P200,000.00 whichever is lower
d. 10% of gross estate or P200,000.00 whichever is higher
e. None of the above
1808. A tax fixed on documents, instruments and papers evidencing the acceptance, assignment or sale of a right, property or obligation:
a. Residence tax
b. Documentary Stamp
c. Value added tax
d. Community tax
e. None of the above
1809. The zonal value of property can be obtained from:
a. Assessor’s Office
b. Land Registration Authority
c. Bureau of Internal Revenue.
d. All of the above
1810. The rate of creditable withholding tax in the sale of real estate property classified as ordinary asset by an individual, estate, trust or corporation
not habitually engaged in real estate business is:
a. 3%
b. 5%
c. 7%
d. None of the above
Note 6 %
1811. Capital gains tax on the sale of real estate classified as capital asset is:
a. Creditable tax on the sale
b. Deductible item from income tax.
c. Deductible item from value added tax
d. Expanded withholding tax
e. Pre-paid income tax.
1812. The schedule of fair market value in municipalities in Metro Manila is prepared by:
a. MMDA
b. Concerned municipal assessors.
c. Sanggunian Bayan by ordinance
d. Bureau of Internal Revenue
e. None of the above
1813. The following compose the Board of Assessment Appeals in Makati City, except:
a. Registry of deeds.
b. City Assessors
c. City Prosecutor
d. City Engineer
1814. A tax payer has _____ to redeem his real property which was levied and subsequently forfeited and acquired by the local government for tax
delinquency.
a. 1 year.
b. 4 years
c. 60 days
d. 3 years
1815. For purpose of determining whether seller / transferor can be considered as habitually engaged in real estate business, he should offer
satisfactory evidence that he consummated least ____ taxable real estate transaction during the preceding year.
a. Five
b. Six
c. Eight
d. Ten
e. Twelve
1816. Under the new BIR Ruling, acquired asset of banks regardless of amount are subject to the creditable withholding tax of:
a. 1.5%
b. 3.0%
c. 5.0%
 Q&A In partnership with Miguelle D . Lansang
d. 6.0%
1817. The seller realized a 30% gross over his cost. If the property was sold at P1,950,000.00 the cost is –
a. P1,365,000.00
b. P1,500,000.00
c. P 1,560,000.00
d. P 1,350,000.00
1,950,000 / 1.30 = 1, 500,000
1818. Property held as inventory or stock in trade of buy and sell business and in connection with trade, business or source of income is:
a. Capital asset
b. Fixed asset
c. None of the above
d. Ordinary Asset
e. Intangible asset
1819. In case a false or fraudulent estate, donor or capital gains tax BIR form was willfully made how much surcharge based on the deficiency shall
be imposed?
a. 20%
b. 25%
c. 30%
d. 50%
1820. In a sale of property on installment plan where the buyer is not engaged in trade or business, the applicable rate of tax is based on --
a. Gross selling price
b. Fair market value
c. A or b whichever is higher.
d. Assets value
1821. In case of sale of real property paid under deferred payment basis, the payment of the documentary stamp tax shall accrue upon --
a. Notarization of transfer document.
b. Execution of the Deed of Absolute Sale
c. Execution of Contract to Sell
d. Payment of the full amount
1822. The schedule of market value for ad valorem tax in municipalities outside Metro Manila is prepared by:
a. Municipal Assessors
b. Sanggunian Panglalawigan
c. Provincial Assessors.
d. Provincial treasurer
1823. The amount of family home equivalent to fair market consideration as allowable deduction from the estate of a decedent.
a. P500,000.00
b. P1,000,000.00
c. P2,000,000
d. P 750,000.00
1824. The zonal value of a property can be obtained from:
a. Bureau of Internal Revenue.
b. Office of the sheriff
c. Registry of deeds
d. Assessor’s Office
e. Land Registration Authority
1825. The creditable withholding tax rate in the sale of a real estate dealer of a lot priced at P220,000.00 is –
a. 1.5%.
b. 7.5 %
c. 3.0%
d. 2.5%
e. e. 5.0%
1826. The sale and transfer of title from a real estate dealer to a buyer of a house and lot at P2,000,000.00 is subject to the following EXCEPT:
a. Creditable withholding tax
b. Expanded value added tax
c. Transfer and registration fees.
d. Capital gains tax
e. Documentary stamp tax
1827. For the exemption on the payment of capital gains to be valid, within how many months after the sale or disposition of a residential unit is it
allowed ?
a. 9 months
b. 36 months
c. 24 months
d. 12months
e. 18 months ?
1828. The estate tax return shall be filed with the BIR within:
a. 60 days from death of decedent
b. 90 days from death of decedent
c. 120 days from death of decedent
d. 180 days from death of decedent.
1829. Unless extended for justifiable cause, the period of completion of development of a subdivision project, counted from issuance of license to sell ,
is:
a. Six months
b. Eighteen months
c. Twelve months
d. Twenty four months
1830. Registration of a mortgage covering a subdivision project can only be affected when the deed is accompanied by a permit to mortgage issued
by:
a. Local government unit
 Q&A In partnership with Miguelle D . Lansang
b. Home Insurance Guarantee Corporation
c. National Housing Authority
d. Housing and Urban Development Coordinating Council
e. Housing and Land Use Regulatory Board
1831. In the absence of any provision in the master deed of a condominium project, the interest of the unit owners in the common area shall be:
a. Proportionate
b. Based on value
c. Equal
d. Decided by the condominium corporation
1832. Fixed object point established by surveyor to establish land location :
a. Boundary mark
b. Post
c. Monument
d. Cylindrical concrete
1833. Condominium Act:
a. R.A. 4727
b. R.A. 4276
c. R.A. 2774
d. d. R.A. 4726
1834. Document to be checked before buying a subdivision lot:
a. Development permit
b. Map
c. License to sell
d. Bureau of land approval
1835. Sometimes referred to as vertical subdivision:
a. Row houses
b. Mansion
c. Town houses
d. Condominium
1836. Subdivision and Condominium Buyer Protective Decree:
a. P.D. 1216
b. P.D. 957
c. B.P. 220
d. P.D. 1081
1837. Which of the following cannot be issued condominium certificates of titles:
a. One-level row houses
b. Industrial warehouses
c. Two-level row houses
d. Subdivision lots
1838. Title of condominium units belong to:
a. Corporation owning the building
b. Association of the building
c. Owners of condominium unit
d. Lot owner of the condominium building
1839. The required number of votes of registered owners to authorize a condominium corporation to sell, or otherwise dispose of the common areas in
a condominium project is:
a. Two-thirds
b. Unanimous
c. Three-fourths
d. Simple majority
1840. Jurisdiction for adjudication of buyers’ complaints against subdivision developers is with the :
a. Bureau of Trade Regulation and Consumer Protection
b. National Housing Authority
c. Regular Courts
d. Housing and Urban Development Coordinating Council DHSUD
1841. The performance bond for a subdivision project may be in the form of a surety bond equivalent to:
a. 10% of development
b. 20% of development cost ?
c. 30% of development cost
d. 40% of development cost
1842. The term of a condominium corporation is:
a. 50 years
b. 5 years
c. Co-terminus with duration of condominium projects
d. Subject to agreement between the condominium corporation and the unit owners.
1843. The articles of incorporation of homeowners association is registered with:
a. Securities and Exchange Commission
b. Home Guaranty Corporation
c. DHSUD
d. Bureau of Trade Regulation and Consumer Protection
1844. In mixed use condominium project, the master deed may be amended by simple majority of unit owners. Majority is based on.
a. Number of condo units
b. Total area of condo units
c. Floor area of ownership
d. Any of the above
1845. A subdivision plan needs only the approval of the Land Registration or Land Management Bureau to effect segregation of titles when the
resulting number of lot is:
a. Nine (9) or less
 Q&A In partnership with Miguelle D . Lansang
b. Twelve (12) or less
c. Ten (10)or less
d. Fifteen (15) or less ?
1846. The body which formulates the policies and objectives as well as the over-all strategies for the county’s national shelter program is :
a. National Housing Authority
b. Housing and Urban Development Coordinating Council
c. Housing and Land Use Regulatory Board
d. None of the above
1847. A buyer of real estate has already paid in 8 years of installment a total amount of P520,000.00 inclusive of P20,000.00 penalty interest. The
cash surrender value of the property based on Maceda Law is:
a. P200,000.00
b. P325,000.00
c. P250,000.00
d. None of the above
Sol. 520K-20k×65%
1848. Most important document to be checked before buying a subdivision lot.
a. Map
b. License to sell
c. Subdivision plan
d. Bureau of Land’s approval
e. Development permit
1849. A buyer on installment who has paid at least two years of installments, under Republic Act No. 6552, is entitled to a refund or 50% of total
payments effected during the first five years and an additional ____ every year but not to exceed 90% of total payments made.
a. 5%
b. 50%
c. 20%
d. 30%
e. 10%
1850. parcel of land subdivided into smaller parcels without provisions for streets or open spaces is a –
a. Regular subdivision
b. Complex subdivision
c. Consolidation-subdivision
d. Simple subdivision
1851. A parcel of land subdivided into smaller lots properly planned with streets and open spaces is –
a. Regular subdivision
b. Complex subdivision
c. Consolidation-subdivision
d. Simple subdivision
1852. Subdivision planning that is recti-linear, blocks, lots and streets arrayed in a rectangular pattern .
a. Contour planning
b. Modern planning
c. GRIDIRON PLANNING
d. Square planning
1853. Subdivision planning that arranges all elements to closely fit into the terrain of the land.
a. CONTOUR PLANNING
b. Modern planning
c. Gridiron planning
d. Square planning
1854. A street that leads into a bell-shaped end.
a. Dead-end
b. Driveway
c. CUL-DE-SAC
d. Provisional street
1855. A lot with single frontage, all sides bounded by a neighboring lot.
a. Regular lot
b. Interior lot
c. Standard lot
d. Inside lot
1856. A lot with 2 perpendicular sides fronting a street.
a. Key Lot
b. Corner-Through Lot
c. Corner Lot
d. Flag Lot
1857. A lot in which the front and rear sides are fronting a street.
a. Corner lot
b. Flag lot
c. Corner lot
d. Through lot
1858. A lot that does not have a frontage and is accessed only through a driveway .
a. Interior lot
b. Flag lot
c. Through lot
d. Inside lot
1859. Any particular lot that commands a higher value because of its location .
a. Prime lot
b. High-end lot
c. Through lot
d. Key lot
 Q&A In partnership with Miguelle D . Lansang
1860. The curvilinear side of a lot occurring at a street corner .
a. Corner curve
b. Corner cut
c. CHAPLAN
d. Quarter round
1861. A lot with 3 sides fronting streets.
a. Key Lot
b. Corner-Through Lot
c. Corner Lot
d. Flag Lot
1862. The law that prescribes the amount of open spaces for subdivisions –
a. PD 1096
b. PD 1216
c. PD 957
d. PD 1517

V. Practice Questions – RESA 9646 & IRR, CODE OF ETHICS & RESPONSIBILITIES (46)

1863. The current Chairperson of the Professional Regulatory Board of Real Estate Service (PRBRES) is:
a. Hon. Pilar M. Torres-Banaag
b. Hon. Ofelia C. Binag
c. Hon. Rafel M. Fajardo
d. Hon. Jose Arnold M. Tan
1864. From the effectivity date of the Real Estate Service Law, all existing and new positions in the national and local government whether career,
temporary, contractual or permanent and primarily requiring the services of real estate practitioners shall be filled only by registered and
licensed real estate services practitioners within a period of how many years?
a. 1
b. 2
c. 3
d. 5
1865. Article 4 Section 26 specified the Professional Indemnity Insurance/Cash or Surety Bond in the amount of:
a. at least P20,000.00
b. P20,000.00 more or less
c. over P20,000.00
d. not less than P20,000.00
1866. No person shall be allowed to practice real estate service unless he complied satisfactorily with any and all of the following requirements except:
a. passed the licensure examinations given by the Board
b. holder of a valid brokers certificate and ID Card
c. holder of a valid special/temporary permit
d. Filipino-American citizen
1867. A duly registered and licensed real estate service practitioner is mandated by the R.A. 9646 to be an automatic member of the integrated
national organization referred to as the:
a. Accredited Integrated Professional Organization of Real Estate Service
b. Accredited Professional Organization
c. Accredited Integrated Professional Organization
d. Accredited Integrated Professional Organization of Real Estate Service Practitioners
1868. R.A. 9646 is referred to as the:
a. Real Estate Service Act of 2008
b. Real Estate Service Act of 2009
c. Real Estate Service Act of 2010
d. Real Estate Service Act of 2011
1869. Any violation of R.A. 9646, including that of the IRR shall be meted the penalty of a fine of not less than:
a. P200,000.00 or imprisonment of 2 years or both
b. P100,000.00 or imprisonment of 2 years or both
c. P100,000.00 or 2 yrs imprisonment or both upon the discretion of the court.
d. P200,000.00 or 2 yrs imprisonment or both upon the discretion of the court
1870. No partnership or corporation shall engage in the business of real estate service unless it is duly registered with the _______________.
a. PRC `
b. SEC
c. PRB-RES
d. Stock Exchange
1871. In carrying out the provisions of the Real Estate Service Law as well as implementing rules and regulations and the AIPO shall assist the:
a. PRC
b. PRB-RES
c. CHED
d. PhilRES
1872. Every registered licensed real estate service practitioner shall establish and maintain a principal place of business and is required to display the
following except:
a. Original Certificate of Registration
b. PRC Certificate of Accreditation
c. Professional Identification Card
d. Professional Tax Receipt
1873. The Board shall create a CPE Council consisting of the following excluding:
a. a chairperson coming from PRB-RES
b. a member from the AIPO
c. a member from the academe
d. a member from the PRC
 Q&A In partnership with Miguelle D . Lansang
1874. The Chairman of the PRC shall include in the Commission’s Programs the implementation of the Act, the funding of which shall be included in
the:
a. General Appropriations Act
b. General Information Sheet
c. General Program of the Commission
d. General Revenue Act
1875. The Real Estate Service Act is a consolidation of Senate Bill No. 2963 and House Bill No. 3514 and was finally passed by the Senate and the
House of the representatives on:
a. July 28, 2008
b. May 12, 2009
c. June 29, 2009
d. July 21, 2010
1876. The Real Estate Service Act enacted into law on June 29, 2009. It became effective 15 days after its complete and full publication in the:
a. Official Gazette
b. Bulletin Today
c. Philippine Daily Inquirer
d. Philippine Star
1877. In case the violation of R.A. 9646, including that of the IRR is committed by an unlicensed real estate service practitioner, the penalty is:
a. P200,000.00 or imprisonment of 2 years or both upon the discretion of the court
b. P100,000.00 or imprisonment of 2 years or both upon the discretion of the court
c. P100,000.00 or 4 yrs imprisonment or imprisonment upon the discretion of the court.
d. P200,000.00 or 4 yrs imprisonment or both upon the discretion of the court.
1878. The Board shall adopt and promulgate the Code of Ethics and Responsibilities for real estate service practitioners which shall be prescribed and
issued by the:
a. PRC
b. PRB-RES
c. CHED
d. AIPO
1879. The PRB-RES shall register and issue a certificate of registration to any successful examinee who;
a. has been convicted by court of any criminal offense involving moral turpitude
b. was found guilty of immoral/dishonorable conduct after investigation by the Board
c. is of good moral character
d. was founded to be psychologically unfit
1880. Upon the order of the President of the Republic of the Philippines, the Chairperson and the members of the Board may be suspended or
removed from office after due notice and hearing:
a. in a proper professional investigation.
b. in a proper judicial investigation,
c. in a proper administrative investigation
d. in a proper demonstrative investigation,
1881. The Chairperson and the members of the Board may be suspended or removed from office after due notice and hearing in a proper
investigation based on the following grounds, except:
a. Neglect of duty and abuse of power
b. Oppression and incompetence
c. Conduct of the Board Examinations
d. Immoral, dishonorable/unethical conduct
1882. Which of the following subjects is not included in the Scope of Examination for Real Estate Brokers Licensure Examination?
a. a. Real Estate Laws & Taxation
b. Documentation & Registration
c. Basic Principles of Ecology
d. Theories & Principles in Appraisal
1883. Under Article V Section 42, Implementing Rules and Regulations – After the effectivity of the Act, the Board together with the AIPO, the Dept of
Finance and the CHED, shall within a period of 6 months, prepare the IRR including the:
a. Implementing Guidelines
b. Code of Ethics and Responsibilities
c. CPE Council
d. Table of Specifications of Examinations
1884. Which of the following subjects is not included in the Scope of Examination for Real Estate Appraisers ?
a. BASIC PRINCIPLES OF APPRAISAL
b. Real Estate Finance and Economics
c. Methodology of Appraisal Approaches
d. Geographic Information Systems
1885. Under the RESA Law, In order that an appraiser candidate may be deemed to have successfully passed the examination, he/she must have
obtained an average of at least:
a. 75% in all subjects
b. 70% in all subjects
c. 75% in all subjects with no rating of less than 50% in any subject
d. 70% in all subjects with no rating of less than 50% in any subject
1886. One of the following subjects is not included in the Scope of Examination for Real Estate
1887. Consultants?
a. FUNDAMENTALS OF CONSULTING
b. Real Estate Finance and Economics
c. Land Management Systems and Real Property Laws
d. Real Estate Appraisal and Investment Analyses
1888. The IRR was signed and approved by the PRB-RES on July 21, 2010 and was published on July 24, 2010 thus it became effective on:
a. August 6, 2010
b. August 7, 2010
c. August 8, 2010
d. August 9, 2010
 Q&A In partnership with Miguelle D . Lansang
1889. Under Rule 2 Section 11, Annual Report – At the close of each calendar year an Annual Report stating the detailed account of its proceeding
and accomplishments and the recommendations to be adopted to upgrade the conditions affecting real estate service practice shall be
submitted by the Board to the:
a. Office of the President of the Republic of the Philippines
b. Office of the Commissioner of the Professional Regulation Commission
c. Office of the Department of Finance
d. Office of the Department of Budget and Management
1890. In carrying out the provisions of the Real Estate Service Law as well as implementing rules and regulations and the AIPO shall assist the:
a. PRC
b. PRB-RES
c. CHED
d. PhilRES
1891. The Realty Service Practice is a noble profession, calling or occupation and those engaged therein shall abide by and comply with all the:
a. laws
b. decrees
c. orders
d. rules and regulations
1892. All real estate practitioners shall maintain adequate knowledge, competence and expertise In real estate development and management and
the upgrading of the standards of practice shall be effected when the need arises; all these for, and in the interest of the:
a. social and economic progress of the country.
b. Moral upliftment of the profession
c. upgrading of the real estate industry
d. continuing profession education
1893. Sec. 6 of Art 1 – Declaration of Principles of the Code of Ethics for Realty Service Practitioners State the Golden Rules as:
a. “Treat others as you want them to be treated”
b. “ Do not do unto others what you want others do unto you”
c. “ Do unto others what you want others do unto you”
d. “ Treat others as you like them to treat you”
1894. In its relation to the Government, the practitioner should do all or any of the following excluding:
a. secure all necessary permits and licenses before engaging in the practice
b. pay all fees, taxes, dues, levies or charges imposed by the government
c. encourages, tolerates/participates in the evasion or reduction in the payment of taxes
d. should indicate the license number in the billboard, dry seal and all advertisements in relation to the practice.
1895. One of the following is not a violation of the National Code of Ethics.
a. offer or agree to pay to, split or rebate any commission, fee or valuable consideration
b. encourage, abet, tolerate or participate in the evasion or illegal reduction in the payment of all taxes, fees, dues, levies or charges that
may be imposed by the government
c. pay only any and all taxes, fees, dues, levies or charges that the government discovered and those that may be imposed in accordance to
law, ordinance, or rules and regulations
d. should indicate the license number of the certificate issued by the PRC PRB-RES in his letterhead, dry seal, signboard, billboard,
advertisement or other announcement in relation to the Realty Service Practice.
1896. Listed below excluding one are the good relations of the practitioner to his clients and customer, which the practitioners should always observe:
a. should undertake to make an appraisal or render an opinion that is within the field of his experience and competence
b. pledge him with utmost fidelity and good faith to protect and promote the interest of his client sacrificing the legitimate interest of the other
party in the transaction
c. accept any commission, fee or any valuable consideration from any party in any transaction except from his client unless with the full
knowledge and consent of all the parties in the transaction
d. act as witness in a court proceeding and give his testimonies in the most unbiased, honest, truthful and professional manner
1897. When a practitioner accepts a listing from another broker, the agency of the broker who offers the listing should:
a. Not be respected until it has expired
b. Not be passed to a third broker
c. Be published in a daily newspaper
d. Not have the knowledge and consent of the listing broker.
1898. Under the Code of Ethics, which of the following is considered unethical :
a. negotiate a property listed directly with the owner if the broker goes out of town after proper communication
b. cooperate with other brokers on a property listed provided they are members of national real estate organization
c. willingly share sales experiences with other brokers
d. to inform and criticize among fellow brokers not handling the property.
1899. Identify which of the following is not ethical with respect to a realty practitioner’s Relations to his Organization Including the National Association
to which his Organization is affiliated:
a. the obligation to serve honestly, selfishly, diligently and properly.
b. should support his organization morally and financially and to actively support its plans, programs and projects for the benefit of all the
members of the organization or association
c. should exhaust all administrative remedies available under the existing laws, rules and regulations before taking any judicial or quasi-
judicial action.
d. should support other organization morally and financially and to actively support its plans, programs and projects for own personal growth.
1900. The National Code of Ethics governs the rules of conduct of all realty practitioners duly licensed by the:
a. PRC
b. PRB-RES
c. PhilRES
d. CHED
1901. The scopes of brokerage are as follows, but not:
a. authority to look for a property
b. engagement to look for a buyer
c. procurement of loans secured by real estate
d. procurement of tenants for sale purpose
1902. A Real Estate Broker licensed for over ten(10) years is qualified to be appointed as member of the:
a. Broker’s Licensure Examination Committee
 Q&A In partnership with Miguelle D . Lansang
b. Board of Real Estate
c. CPE Council
d. PRC
1903. To assure faithful and honest discharge of duties of a real estate broker renewal of his license , he is required to secure which of the following:
a. Bond/Insurance, NBI Clearance, 60 hours CPE
b. Bond/Insurance, NBI Clearance, 120 hours CPE
c. Bond/Insurance, NBI Clearance, 180 hours CPE
d. Bond/Insurance, NBI Clearance, 240 hours CPE
1904. R.A. 9225 (Citizenship Retention and Reacquisition Act) dated August 29, 2003, provides that natural born citizens of the Phil’s. who have lost
their citizenship by reason of their naturalization as citizens of a foreign country are deemed to have reacquired Philippine citizenship (who
shall thereafter enjoy full civil and political rights) after compliance with what process?
a. Submission of an affidavit of good faith
b. Taking an oath of allegiance
c. Submitting DOJ with sworn statement of five (5) credible, Filipino guarantors
d. Deposit of P1 million with the bid
1905. Any of these acts shall be the grounds for revocation of license, except:
a. Misappropriation
b. Misrepresentation
c. Paying and receiving rebate
d. Non-payment of PTR
1906. A broker has just received from a fellow broker’s client/buyer, written offer to purchase a property of his client/seller, together with a check for
earnest money payment. Which of the following steps is the most proper and ethical for him to take?
a. call another fellow broker whose client is also interested in the property in the hope that they can top the offer.
b. Call the seller immediately to inform him about the offer and submit it at the soonest possible time, both the written offer and the earnest
money.
c. Show the offer to another prospective buyer in the hope of getting better price for the property.
d. Reject the first offer outright based on his opinion that the offered price is too low and tell his fellow broker who submitted the offer to
convince the buyer to make a higher offer
1907. To constitute negligence or failure to disclose or ascertain to any person with whom a broker is dealing relative to the property and within his
knowledge at the time of the transaction, what matters must the broker fail to disclose?
a. previous owner of the property or history of title
b. fair market value of the property.
c. Location, topography, and shape of the property.
d. Material fact, data or information.
1908. The real estate broker must not encourage the following act when with a sale transaction to help the client reduce cost.
a. Employ cost effective measures in the deed of sale
b. pay to the BIR where the property is located.
c. Pay the other taxes at the same time.
d. pay the property taxes on time
1909. After the buyer's offer was accepted by the seller, the broker cashed the buyer's deposit check and put the money in his office safe pending the
close of escrow. The seller demanded the deposit money but the broker refused to give it to him. Assuming only the above facts:
a. The broker needs to look out for the best interest of the seller at all times, even if that means performing acts against the sellers will.
b. This conduct would probably subject the broker by disciplinary action by the PRC.
c. The broker had legal justification to hold only one-half of the deposit; he must give the their half to the seller
d. The broker had legal justification to refuse to give the deposit money to the seller

W. REB Mock Exam

1910. The survey comprising all classes of surveys of isolated parcels of land used for agricultural, residential, commercial resettlement or other
purposes is _______________.
a. Geodetic Control Survey
b. Private Land Survey
c. Isolated Survey
d. Cadastral Survey
1911. The extensive survey made to determine the metes and bounds within the entire municipality or city for land registration and other purposes
is__________.
a. Topographic Survey
b. Relocation Survey
c. Cadastral Survey
d. Public Land Subdivision
1912. The survey conducted over a parcel of land in order to determine the contour, terrain and elevation of the said land is a _________________.
a. Topographic Survey
b. Relocation Survey
c. Cadastral Survey
d. Public Land Subdivision
1913. The survey conducted over a parcel of land in order to identify and re-establish the boundaries of the said land in accordance with the technical
descriptions inscribed in the certificate of title or approved plans is a ________________.
a. Topographic Survey
b. Relocation Survey
c. Cadastral Survey
d. Public Land Subdivision
1914. The lines in topographic map which indicate the elevation of the terrain at various sections of the land are ___________________.
a. Azimuth lines
b. Elevation lines
c. Contour lines
d. Long and Curve Lines
1915. All original surveys covering alienable and disposable lands which have not been subjected to private rights nor devoted to public use pursuant
to the provisions of public land laws shall refer to__________.
 Q&A In partnership with Miguelle D . Lansang
a. Public Land Subdivision
b. Private Land Surveys
c. Public Land Surveys
d. Cadastral Surveys
1916. Which is not a cardinal direction in map reading?
a. North
b. North-East
c. East
d. South
1917. Which is not one of the classifications of Isolated Land Surveys ?
a. Public land Surveys
b. Government Land Surveys
c. Private Land Surveys
d. Conversion Surveys
1918. Which is not one of the Reference Monuments ?
a. Provincial Boundary Monuments
b. Municipal Boundary Monuments
c. Barrio Boundary Monuments
d. Barangay Boundary Monuments

INDICATE THE SURVEY SYMBOL OF THE FOLLOWING:

1919. Resurvey
a. Rs
b. Rsrvy
c. Ry
d. Rsrv
1920. Group Settlement Surveys
a. Gss
b. Grs
c. Gssrv
d. Gssrvy
1921. Segregation Surveys
a. Sgs
b. Ss
c. Ssrv
d. Ssrvy
1922. Public Land Subdivision
a. Pls
b. Plsd
c. Plsbd
d. Plsub
1923. Homestead
a. H
b. Hmtd
c. Hmstd
d. Hd
1924. Free Patent
a. F
b. Fp
c. FPt
d. Frp
1925. Sales Application: Individual
a. Si
b. Sai
c. Sain
d. Sapi
1926. Sales Application: Corporation
a. Sc
b. Sac
c. Saco
d. d.Sapc
1927. Foreshore Lease Application: Individual
a. Fli
b. Flai
c. Flapi
d. Fleapi

SUBDIVISION AND OR CONSOLIDATION OF UNTITLED OR UNDECREED PROPERTY:

1928. Subdivision
a. Cad
b. S
c. Sub
d. Subd
1929. Consolidation
a. Ccn
b. C
 Q&A In partnership with Miguelle D . Lansang
c. Con
d. Cdn
1930. Consolidation and Subdivision
a. Ces
b. Cas
c. Cs
d. Consub

SUBDIVISION AND OR CONSOLIDATION OF TITLED OR DECREED PROPERTY:

1931. Subdivision
a. Psd
b. b.Ps
c. PSub
d. PSubd
1932. Consolidation
a. Pcn
b. Pc
c. PCon
d. PCdn
1933. Consolidation and Subdivision
a. Pcs
b. Pcas
c. Pcsub
d. Pconsub
1934. How much of the distributable income of a REIT should be given as annual dividends to its stockholders ?
a. 70%;
b. 80%;
c. 90%; and
d. 95%
1935. What is the minimum number of shares that all public stockholders of a REIT should hold?
a. 1;
b. 20;
c. 50; and
d. 100
1936. What is the minimum number of public stockholders that a REIT should have ?
a. 500;
b. 1,000;
c. 1,500; and
d. 2,000
1937. What is the ceiling of executive compensation that should be given as annual pay of all directors and principal officers of a REIT in relation ?
a. 10% of the net income before tax;
b. 15% of the net income before tax;
c. 1% of the gross income; and
d. 2% of the gross income ?
1938. What is the ceiling of fees that should be paid to fund and property managers of a REIT?
a. 1% of the net asset value of assets under their management;
b. 3% of the net asset value of assets under their management;
c. 1% of the gross income; and
d. 2% of the gross income
1939. What is the limit of investments of income generating real estate outside of the Philippines that a REIT can undertake in relation to its deposited
property?
a. Not more than 30% ;
b. Not more than 40%;
c. Not more than 50%; and
d. Not more than 60%
1940. A REIT has a governing board composed of 11 directors. How many of these 11 directors should be independent?
a. 1;
b. 2;
c. 3; and
d. 4
1941. What is the minimum paid up capital of a REIT?
a. P100-million;
b. P200-million;
c. P300-million; and
d. P400-million
1942. By how much of the deposited property of a REIT should be invested in income generating real estate?
a. 65%;
b. 70%;
c. 75%; and
d. 80%
1943. What is the minimum number of years of good track record from date of acquisition that a real estate should be considered as an allowable
investment of a REIT?
a. 3;
b. 4;
c. 5; and
d. 6
 Q&A In partnership with Miguelle D . Lansang
1944. SYNTHETIC INVESTMENT products are derivatives and other securities created exclusively out of one or more financial instruments to
simulate the returns of the underlying assets or indices. By how much of the investible funds should be allocated by a REIT on these synthetic
investment products?
a. Not more than 1%;
b. Not more than 3%;
c. Not more than 5%; and
d. Not more than 7%
1945. In real estate brokerage, the owner is the principal while the real estate broker is referred to as
a. Principal
b. Fiduciary Agent
c. Salesman
d. Coordinator
e. Agent
1946. The following information may not necessarily be included in the Authority to Sell
a. Name of the Owner
b. Address of the property
c. Shape of the property
d. Validity of the ATS
e. Area
1947. The following is not a function of a Real Estate Broker
a. To sell the house and lot of the owner
b. To assist the buyer in securing a loan
c. To notarize the Contract to Sell
d. To find a developer for joint venture
e. To assist the buyer during ocular inspect
1948. Real Estate Service Practitioners include :
a. Real Estate Consultant
b. Real Estate Salespersons
c. Real Estate Brokers
d. Ral Estate Appraisers
e. All of the Above
1949. To be entitled to a professional fee, the real estate broker must
a. Find a sales associate
b. Be registered with DTI
c. Be the procuring cause
d. Post the advertisement on facebook
e. Find a cash buyer
1950. The sharing of the professional fee between brokers should be:
a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed with the downlines
e. As agreed with the buyer
1951. The first step in Real Estate Brokerage is:
a. To bless the office
b. To go ocular inspection with clients
c. To organize sales group
d. To check documents of the client
e. To secure property listing
1952. Ms & Mrs Tan gave an authority to REB Santos to sell their Ladislawa lot and gave another authority to REB Cruz and another one to REB
Perez. This kind of authority is referred to as:
a. Exclusive Listing
b. Multiple Authority to Sell
c. Oral Listing
d. Limited Authority
e. Open Listing
1953. In a real estate transaction the broker gets a
a. Profit
b. Honorarium
c. Dividend
d. Stipend
e. Professional Fee
1954. A provision in the listing agreement which stipulates that the broker is entitled to the commission if the subject property, within a certain period
after the lapse of the period of authority, is ultimately old to a prospective buyer that was registered by the broker with the owner within the
period of authority
a. Holdover Clause
b. Memorandum of Understanding
c. Extension of time
d. Contract to Sell
e. Authority to Sell
1955. Mr Pascual told his broker to sell his condo unit and he promised to give 5% professional fee but no authority in writing was given. The authority
is
a. Valid
b. A scam
c. Voidable
d. Not valid
e. Null and Void
1956. Ms. Angela Santos passed the broker's exam and got her license. She must pay her professional tax to:
 Q&A In partnership with Miguelle D . Lansang
a. Bureau of Internal Revenue
b. HLURB
c. Department of Justice
d. PRC
e. City Treasurer's Office
1957. Mr. Cock Roach asked his broker Ms Jinkee to assist him acquire a house, this type of agency is called
a. Exchange Agency
b. Manpower Agency
c. Purchase Agency
d. Lease Agency
e. Sales Agency
1958. A person, natural of juridical who is engaged in the trade of leasing his own real properties with the purpose of generating profit is a
a. Real Estate Trader
b. Real Estate Consultant
c. Real Estate Dealer
d. Real Estate Businessman
e. Real Estate Broker
1959. The following are good qualities of a Real Estate Service practitioner, except :
a. Emphatic
b. Flexible
c. Intelligent
d. Trustworthy
e. Over-confident
1960. Only the following can be a Licensed Real Estate Broker
a. LPG Realty
b. ABC Realty & Devt Corporation
c. Mr. Jose delos Santos
d. Ed Sheeran c Eagles Division
1961. Professional fee is due and demandable
a. Upon payment of res. fee
b. Upon transfer of title to the buyer
c. Upon submission of documents
d. Upon signing of reservation agreement
e. Upon consummation of the contract
1962. It is defined as the land and / or building or other improvements permanently attached to land including the rights and interests thereon.
a. Real Estate
b. Property Inheritance
c. Collateral
d. Real property ownership
e. Landholding
1963. The following is not really a part of the steps in real estate brokerage
a. Presentation/Demonstration
b. Securing Listing
c. Registration
d. Turnover of Possession
e. Negotiation & Consummation
1964. ZBD Realty Corporation is selling its property at San Pedro Street, Davao City. Mr. Bean, the General Manager was tasked to represent the
company in the transaction. He needs the following to protect his authority:
a. Notarized listing authority
b. Board Resolution from the company affirming his authority as representative
c. Articles of Incorporation & By-Laws
d. Signature of the Chairman of the Board
e. His 201 file from HRD
1965. Real Estate as a business refers to the following, except
a. Leasing
b. Financing
c. Buying
d. Baking
e. Selling
1966. A duly accredited natural persons who performs service for and in behalf of a real estate broker
a. Real Estate Consultant
b. Real Estate Salesperson
c. Real Estate Appraiser
d. Real Estate Dealer
e. Real Estate Assessor
1967. A duly registered and licensed natural person who works in a local government unit and performs appraisal and assessment of real properties
including plants, equipment and machineries essentially for taxation purposes
a. Real Estate Consultant
b. Real Estate Salesperson
c. Real Estate Appraiser
d. Real Estate Dealer
e. Real Estate Assessor
1968. A natural or juridical person who for and in expectation of a fee, compensation or other valuable consideration offers or renders professional
advice on the conception, planning and development of realty projects
a. Real Estate Consultant
b. Real Estate Salesperson
c. Real Estate Appraiser
d. Real Estate Dealer
 Q&A In partnership with Miguelle D . Lansang
e. Real Estate Assessor
1969. Any person, natural or juridical, who is an agent of another person and for and in expectation of a fee or other valuable consideration effects the
meeting of the minds of both parties on the sale, purchase, exchange, mortgage, lease or joint venture or other transactions in real estate
a. Real Estate Consultant
b. Real Estate Salesperson
c. Real Estate Appraiser
d. Real Estate Dealer
e. Real Estate Broker
1970. After agreeing on the final price, the buyer gave earnest money to the seller. The earnest money shall be considered
a. Part of the Purchase Price
b. Downpayment
c. Not part of the Purchase Price
d. Option Money
e. Reservation fee
1971. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction
a. Option Contract
b. Contract to Sell
c. Listing Agreement
d. Earnest Money Agreement
e. Escrow Agreement
1972. The authority of the Real Estate Broker and his contract with the owner to negotiate the sale, lease, purchase, exchange or mortgage of the real
estate property at the price, terms and for a fee or any valuable consideration specified in the authority within a stated period
a. Option Contract
b. Contract to Sell
c. Listing Agreement
d. Earnest Money Agreement
e. Escrow Agreement
1973. It refers to the compensation / remuneration and/or payment for the service rendered by the real estate broker
a. Professional Fee
b. Honorarium
c. Talent Fee
d. Dividend
e. Reservation Fee
1974. Which of the following are modes of terminating an agency
a. By accomplishment of the purpose;
b. By expiration of the period for which the agency was constituted;
c. By revocation;
d. By mutual agreement
e. All of the above
1975. Mr Patrick de Jesus is setting up a realty company to market the newest subdivision project in Davao City. Mr De Jesus should make sure that
his salespersons are :
a. Duly accredited with PRC
b. Duly accredited with PDIC
c. Duly accredited with DTI
d. Duly accredited with PNOC
e. Duly accredited with HLURB
1976. It is given to landowners whose properties were covered under the Comprehensive Agrarian Reform Program (CARP) pursuant to R.A. 6657
and means the equivalent for the value of the property at the time of its taking.
a. Disturbance Compensation
b. Just Compensation
c. Retention
d. Right of Redemption
1977. Which of the following statement is incorrect ?
a. The tenant’s right of pre-emption may be exercised within 180 days from notice in writing, which shall be served by the owner on all
lessees affected and the DAR
b. The right to retain a maximum of five (5) hectares of agricultural landholding can be exercised by both natural and juridical persons
c. Presidential Decree No. 27 only covers tenanted rice and corn lands
d. Conversion is needed for properties re-classified prior to June 15, 1988.
Broker’s Note. D. Incorrect. As per RA 6657, conversion of. land to nonagricultural uses can be approved from the date of its effectivity on
June 15, 1988. This means, all lands are already classified before 15 June 1988 no longer need any conversion clearance
1978. Under R.A. No. 3844, the following are causes for terminating leasehold relation, EXCEPT:
a. Voluntary surrender
b. Abandonment
c. Death or permanent incapacity of the agricultural lessee (tenant )
d. Absence of an heir to succeed the agricultural lessee .
(Source: Sec. 8 RA 3844 Code of Agrarian Reform)
1979. Mr. Santos owns the following landholdings:
5 hectares devoted to coconuts with no tenant.
500 sq. m. in Juna Subdivision.
2 hectares granted by DAR to be converted to raising of poultry 5 hectares actually, directly and exclusively used as fishponds. How many
hectares, if any, can be covered under CARP?
a. None
b. 5 hectares
c. C 7 hectares
d. 12 hectares
e. 12.0500 hectares
Note: Retention is 5 hectares. covered areas is 1,000 hectares
1980. What are the two (2) requisites before a Certificate of Land Ownership Award (CLOA) can be sold?
 Q&A In partnership with Miguelle D . Lansang
a. Lapse of 10 years from registration and full payment of amortization .
b. Lapse of 5 years from registration and full payment of amortization
c. Full payment of amortization and certification that the property is not subject of a pending case
d. Certification that the property is not subject of a pending case and lapse of 10 years from registration
1981. A tenant is entitled to the following, EXCEPT :
a. Security of tenure
b. Homelot
c. Retention
d. Right of redemption
Basis: Sec. 22 RA 1199 Agricultural Tenancy Act of of the Philippines, Aug 30, 1954
1982. If a landowner wants to convert his 50,000-square-meter agricultural landholding to residential, where will he file his application for conversion?
a. Land Use Cases Division (LUCD) of the Bureau of Agrarian Legal
b. Assistance (BALA) –formerly Center for Land Use Policy Planning and Implementation (CLUPPI)
c. Special Agrarian Court (SAC)
d. Regional Land Use Cases Committee (RCLUCC) – formerly Regional Center for Land Use Policy Planning and Implementation
(RCLUPPI)
e. Department of Agrarian Reform Adjudication Board (DARAB)
1983. What is the maximum area that can be awarded to a beneficiary of CARP?
a. 5 hectares
b. 2.5 hectares
c. 3 hectares
d. 7 hectares
1984. The application for conversion of Mr. Reyes was granted by DAR, allowing his 3-hectare agricultural land to be used as memorial park.
However, he developed the said landholding into a fishpond. By doing so, Mr. Reyes can be held liable for:
a. Illegal conversion
b. Unauthorized conversion
c. Premature conversion
d. All of the above
1985. Which of the following landholdings are beyond the scope of CARP?
a. Lands retained by landowners pursuant to PD 27
b. Lands devoted to raising of livestock, swine, and poultry
c. Lands with 18% slope or over and not developed as of June 15, 1988
d. All of the above.
1986. The owner wants net proceeds of P1,750,000.00 exclusive of capital gains tax, documentary stamp tax and 5% brokers commission. How much
would be the selling price so that broker can maintain his 5% commission?
a. P2,000,000. 00
b. P1,980,000. 00
c. P1,968,750. 00
d. P1,750,000.00
CGT = 6%, DST = 1.5%, Comm = 5%, Total = 12.5%
Solution: 1,750,000/100%-12.5% = 2M
1987. Mr. Reyes sold his property at P5,000,000.00 inclusive of capital gains tax, documentary stamp tax and broker's commission of 5%. What will
be his net proceeds after deduction of expenses?
a. P3,875,000.00
b. P4,250,000.00
c. P4,375,000.00
d. P4,455,000.00
CGT = 6%, DST = 1.5%, Comm = 5%, Total = 12.5%
Solution: 5,000,000 – 12.5% = 4,375K
1988. The DST for the Donor’s tax shall be paid on:
a. After 20th day of the following month from notarization of deed
b. After 10th day of the following month from notarization of deed
c. After 5th day of the following month from notarization of deed
d. None of the above
Broker’s Note: Donors Tax shall be filed within thirty (30) days after the date of donation is made
1989. A deduction the maximum of which is P1,000,000 but the amount claimed may be less than maximum.
a. Family home
b. Vanishing deduction
c. Standard deduction
d. Medical expenses
1990. Mr. Almeda, unmarried, left a house and lot to his parents, which he shared with them while still alive. He acquired the property for P750,000.
The property qualifies as family home.If at the time of Mr. Almeda’s death, the property has a fair market value of P1,500,000, the amount that
should properly be included as part of the gross estate is:
a. P1.5M
b. P750,000
c. P1M
d. P 0
1991. From the same problem above, the deduction that may be claimed is:
a. P1.5M
b. P750,000
c. P1M
d. P 0
1992. In the sale of principal residence and exemption thereof, the following shall be exempted to the seller :
a. CGT
b. CGT and DST
c. DST
d. VAT
 Q&A In partnership with Miguelle D . Lansang
1993. An owner will rent out a residential apartment this 2021 and will be exempted from VAT provided the monthly rent does not exceed: 2021
update, not exceed
a. P15,000
b. P10,000
c. P12,800
d. P12,000
1994. The amount of exempted CGT in the sale of principal residence shall be:
a. Held by the taxpayer until a new residence is bought
b. Deposited in the account of the seller
c. Put in escrow
d. A tax credit for the seller
1995. The following does not have a BIR zonal value:
a. Condominium unit
b. Agricultural land
c. Condominium parking space
d. Building improvements
1996. The creditable withholding tax rate for a house and lot sold for P1,800,000 by developer who is habitually engaged is:
a. 0%
b. 1.5%
c. 3%
d. 5%
1997. The owner of a house and lot sold the property owned by him and rented out to foreigners in the business of leasing in the amount of
P4,500,000. The rate of tax on the sale shall be:
a. 1.5%
b. 3%
c. 5%
d. 6%
1998. A real estate broker will be earning a total professional fee in the amount of P2,500,000, inclusive of VAT. How much will be the net amount to
be received by the broker after deducting the withholding tax if the broker had reported his income would go beyond P720,000 for the year?
a. P2,250,000
b. P2,008,929
c. P1,897,321
d. P2,125,000
Broker’s Note and Solution: Beyond 720,000 is 15%, and VAT is 12%
Solution: 2,500,000 × 15% = 375k
2.5M-375K × 12/112 = 227.678.5
2.5M-375K-227.678.5 = 1,897,321.4
1999. The DST for deed of real estate mortgage pursuant to the provisions of RA No. 7660 is: (N.B. 2021 update)
a. P15 for every P1,000 of the mortgage amount
b. P10 for every P1,000 of the mortgage amount
c. P40 for the first P5,000 of the mortgage plus P20 for every P5,000 thereafter.
d. P20 for the first P5,000 of the mortgage plus P10 for every P5,000 thereafter
2000. Mr. Juan dela Cruz received a down payment of P2,400,000.00 for his property sold at P3,600,000.00. The balance was secured by REM (real
estate mortgage) with the same property, payable in one (1) year. In order to register the transaction, compute the documentary stamp tax, as
follows: Documentary stamp on mortgage. 2021 update.
a. P2,510
b. P2,410
c. P2,310
d. D. P4, 820
Our Solution:
Given
TCP = 3,600,000
Downpayment = 2,400,000
Loanable amount = 1,200,000 basis for DST mortgage

BIR Basis 2021: P40 for the first P5,000 of the mortgage plus P20 for every P5,000 thereafter

Solution:1st P 5,000 = 40 P5,000 thereafter = ?

1,200,000 – 5,000 = 1,195,000 / 5,000 = 239 x20 = 4,780

Total DST in real estate mortgage payable 2021=?

40 + 4,780 = 4,820.
2001. Mr. Cruz was the lessor of 25 units of residential apartments with equal rental payments and made a total annual gross receipts of
P2,700,000.00 for the year 2021. How much is the value added tax for the year? (N.B. Updated 2021)
a. P245,454.55
b. P289,285.71
c. P378,000.00
d. None of the above
Our Solution :
2,700,000 / 25 / units = 108,000 per unit per year / 12 month = 9,000 per unit per month

BIR Basis: RR 13-2018

Lease of residential units with a monthly rental per unit exceeding P 15,000 but the annual aggregate of such rentals during the year does not
exceed P 3M shall be VAT exempt.

Monthly rental per unit = 9,000 exempt from VAT

Annual aggreagate = 2,700,000 = exempt from VAT
 Q&A In partnership with Miguelle D . Lansang
2002. Jake and Rosie sold their house which is their principal residence. You as their broker have to advice them the transaction is exempt from the
capital gains tax if they spend how many percent of the sales proceeds in acquiring or constructing their new principal residence?
a. 100%
b. 75%
c. 50%
d. 60%
Broker’s Note: BIR Basis: RR 14-00
2003. Your friend Gary has just closed the sale of his 930 sq. m. commercial lot in Shaw Boulevard. The Selling price agreed upon is P25,000 sq. m.
You have to advise your friend – who has agreed to pay the capital gains tax and documentary stamps tax – to request for two manager's
checks for payment of these taxes. What amounts would he indicate for the capital gains tax and the documentary stamps tax? The current BIR
zonal valuation of the lot is P30,000 per sq. m.
a. Capital Gains Tax = P1,674,000.00 Documentary Stamps Tax = P418,500.00
b. Capital Gains Tax = P1,395,000.00 Documentary Stamps Tax = P348,750.00
c. Capital Gains Tax = P1,674,000.00 Documentary Stamps Tax = P418,500.00
d. Capital Gains Tax = P1,395,000.00 Documentary Stamps Tax = P418,500.00
Broker’s Note: which is higher: selling price or zonal value. In this case, zonal value of 30,000 is the basis for tax computation, CGT 6%. DST
1.5%
2004. In case of false or fraudulent estate, donor or capital gains tax BIR form was willfully mad e, how much surcharge based on the taxes or
deficiency shall be imposed?
a. 20%
b. 30%
c. 25%
d. 50%
2005. The study of animals and plants in relation to their habitat is called ________.
a. autoecology
b. ecology
c. biology
d. synecology
2006. Sea anemones contain venom that is used to sting and paralyze their prey. The clownfish contains an enzyme in their scales that makes them
immune to venom. This allows them to freely live in the sea anemone without being harmed. This is an example of what type of relationship?
a. Predator-prey
b. Commensalism
c. Mutualism
d. Parasitism
2007. These are organisms that can’t make their own food and must feed on other organisms.
a. Autotrophs
b. Decomposers
c. Heterotrophs
d. Pathogens
2008. Where a population lives.
a. Biomes
b. Habitat
c. Species
d. Niche
2009. The source of all energy is ____________.
a. The Son
b. the sun
c. the supreme being
d. matter
2010. Philippine typhoon that caused the greatest damage in terms of cost is ___________.
a. Yolanda
b. Ondoy
c. Glenda
d. Pablo
2011. Philippine typhoon that caused the greatest damage in terms of cost known by its international name as Haiyan is ___________.
a. Yolanda
b. Ondoy
c. Glenda
d. Pablo
2012. Autoecology deals with the study of the individual organisms, its life history, behavior, characteristics, and its adaptation to the environment is
also called ___________.
a. Community ecology
b. population ecology
c. ecology
d. synecology
2013. Defined as a group of organisms which can interbreed and produce a successful offspring is :
a. Organelles
b. species
c. population
d. community
2014. A relationship between two organisms where one is usually harmed and the other gets benefits from the relationship is called, ___________.
a. predator
b. parasitism
c. mutualism
d. one-way relationship
2015. Type of heterotroph that can eat plants and other animals are called, ___________.
a. predators
b. omnivores
 Q&A In partnership with Miguelle D . Lansang
c. parasites
d. autotrophs
2016. Transfer of food from the plants (producers) through a series of organisms with repeated eating and being eaten is commonly called a
___________.
a. food web
b. food chain
c. food transfer
d. food process
2017. The 1978 law that establishes an environmental impact statement system including other environmental management related measures, is
___________.
a. RA 1586
b. PD 1586
c. RA 21
d. PD 21
2018. It is the national agenda for sustainable development . It outlines the integrating strategies for the country’s overall sustainable development and
identifies the intervention areas, is ___________.
a. RA 21
b. PD 21
c. RA 1586
d. PD 1586
2019. It refers to a region of Earth's stratosphere that absorbs most of the Sun's ultraviolet (UV) radiation.
a. Ozone layer
b. Biosphere
c. Atmosphere
d. Ecosphere
2020. The population of the Philippines by the end of December 2020 is estimated at :
a. Over 110 million
b. 100 million
c. 95 million
d. None of the above
2021. The Philippines is composed of how many regions?
a. 18 regions
b. 17 regions
c. 13 regions plus ARMM, NCR and CAR
d. 3 major regions (Luzon, Visayas and Mindanao)
2022. Negros province (composed of Negros Occidental and Negros Oriental ) belongs to:
a. Region 6 – Western Visayas
b. Region 7 – Central Visayas
c. Region 8 – Eastern Visayas
d. None of the above
2023. The top three highest Philippine mountain ranges in order from highest, 2 nd highest, 3rd highest are:
a. Mt. Apo, Mt. Dulang-Dulang and Mt. Pulag
b. Mt. Apo, Mt. Mayon and Mt. Pulag
c. Mt. Apo, Mt. Pulag and Mt. Mayon
d. Mt. Apo, Mt. Pulag and Mt. Taal
2024. The top three major Philippine lakes in order from largest, 2 nd largest, 3rd largest are:
a. Laguna Lake, Lanao Lake, and Taal Lake
b. Laguna Lake, Lanao Lake, and Lake Mainit
c. Laguna Lake, Lanao Lake, and Lake Lumao
d. Lanao Lake, Laguna Lake, and Taal Lake
2025. The study and practice of making maps is called
a. Cartography
b. Geo-mapping
c. GIS
d. Mapeology
2026. The Philippine national institution dedicated to provide information on the activities of volcanoes, earthquakes, and tsunamis is :
a. PHIVOLCS
b. PAGASA
c. PHILVOLCS
d. NDRRMC
2027. Which of the following is not a criteria for Highest and Best Use?
a. Maximum size of improvement
b. Legal permissibility
c. Physical possibility
d. Financial feasibility
2028. Market data adjustments are made :
a. To the comparables to make them like the subject appraised
b. To the comparables to make them like the market
c. To the subject to make it like the market
d. To the comparables to make it like the comparables
2029. The appraisal process defining the value estimated is included in the :
a. Definition of problem
b. Preliminary analysis and data collection and selection
c. Final Estimate of Value
d. None of the above
2030. The date of the value opinion in an Appraisal Report is :
a. The date the appraiser was on the site (i.e. inspection date )
b. The date the appraiser received the order or assignment (i.e. contract signing)
 Q&A In partnership with Miguelle D . Lansang
c. The date the report was first submitted to the client (i.e. first draft)
d. The date the final report was submitted (i.e. final accepted report by the client)
2031. Land value can be estimated using the following techniques except?
a. The cost approach
b. The Market and Data Approach
c. The income approach
d. None of the above
2032. Value is a word of many meanings, but the general meaning is?
a. Worth of something to someone for some purpose
b. Any price something is sold for
c. The future worth of something
d. The present worth of future benefits of something for someone
2033. The Cost Approach results in the most accurate appraisal of :
a. A new building
b. Vacant lot
c. An old building
d. A condominium unit
2034. The term Highest and Best Use refers to :
a. The use that results to the greatest net return
b. The greatest value of improvement
c. The use most beneficial to the community
d. The most feasible option
2035. The fact that individual properties, neighborhood and others are constantly changing is called the principle of?
a. change
b. increasing and diminishing returns
c. supply and demand
d. competition
2036. Jovi Tupaz has his “dream house” constructed for P6,000,000 in an area where most newly constructed houses are not as well equipped as his
and typically sell for only P2,000,000. The value of Jovi Tupaz’s house is likely to be affected by the principle of?
a. Regression
b. Progression
c. competition
d. supply and demand
2037. The elements of value include which of the following ?
a. Scarcity (Demand,Utility,Scarcity,Transferability)
b. Balance
c. Competition
d. Supply and Demand
2038. The term non-homogeneity refers to
a. Uniqueness
b. Same as the others
c. Indestructibility
d. Immobility
2039. The principle that requires both the land and the improvements to be valued for the same purpose , even if they are being valued separately.
a. Principle of Conformity
b. Principle of Change
c. Principle of Highest and Best Use
d. Principle of Consistent Use
2040. In the Appraisal Process, what is the step that comes after “Data Collection and Analyses”?
a. Valuation using the three approaches
b. Preliminary Survey and Appraisal Plan
c. Reconciliation of Value
d. None of the above
Brokers Note: Next step is HABU
2041. What is the recommended minimum buffer zone against ground rupture from both sides of the fault trace ?
a. 10 feet
b. 10 meters
c. 5 meters
d. 15 meters
2042. Minimum lot dimensions for a mausoleum are :
a. 6 meters x 5 meters
b. 5 meters x 5 meters
c. 4 meters x 5 meters
d. No implied minimum
Basis: HLURB Rules and regulations for memorial parks / cemeteries
2043. FAR in zoning means
a. Field Appraisal Report
b. Not near
c. Floor Area Ratio
d. Forecasted Area Ratio
2044. An Act providing for a local government code of 1991 is :
a. RA 6559
b. RA 8160
c. RA 7160
d. PD 7160
2045. An Act that provides the mechanism for land use inventory, acquisition, disposition and provision of socialized housing for the underprivileged
and homeless.
a. RA 6559
 Q&A In partnership with Miguelle D . Lansang
b. RA 7160
c. RA 7279
d. None of the above
2046. Type of land use wherein the inherent features or characteristics of land have not been considerably altered or modified.
a. Conformity
b. Highest and Best Use
c. Reversible
d. None of the above
2047. DHSUD stands for
a. Department of Housing and Shelter Use Development
b. Department of Human Settlement and Urban Development
c. Department of Home Settlement and Urban Development
d. None of the above
2048. Provides that it is the policy of the state to implement and integrated program of land use developmental control that aims to foster growth and
renewal of urban and rural communities in an integrative manner that promotes optimum land use, adequate shelter, and environmental
protection – all these towards the development of man as a social being.
a. PD 957
b. EO 72
c. EO 648
d. None of the above
2049. The National Building Code is also known as :
a. PD 957
b. RA 7279
c. PD 1096
d. None of the above
Answer: RA 6541
2050. Can a Nursery / Elementary School be placed in an R-1 Zone?
a. Depends on the National Building Code
b. No
c. Yes
d. Both a and b
2051. An office manager was paid P1,000 per month plus 1/4 of one percent of all office sales. In January, she received P2,780. This amount was
based on monthly sales of?
a. P556,000
b. P912,000
c. P1,112,000
d. P712,000
Solution
Payment of manager = 1,000
Remaining is = 1,780 incentive for sales
¼ x 1% = 0.0025
1,780 / 0.0025 = 712,000
2052. Minimum lot dimensions for a mausoleum is 4 meters x 5 meters. What is the minimum area ?
a. 24 square meters
b. 30 square meters
c. 20 meters
d. 20 square meters
Solution: 4m x 5m = 20 sqm
2053. If the FAR in a CBD is 12 and the lot dimensions are 20 meters x 30 meters, what is the maximum allowable floor area assuming each square
meter will be counted?
a. 8,200 square meters
b. 6,200 square meters
c. 5,200 square meters
d. 7,200 square meters
Solution: FAR x Lot area
12 x (20 x 30)) = 12 x 600 sqm = 7,200 sqm.
2054. The circular rotunda in front of your house is being sold for an astonishingly low price of only P100 per square meter. The diameter of the
rotunda is 10 meters. It’s a good hedge against inflation in the future. Your 60-year old mother will give you the money to buy the rotunda if you
can solve for the approximate selling price in 70seconds. The property is worth?
a. P10,854
b. I will ask Mom to buy me a car instead.
c. P17,485
d. P7,854
Solution:
Given: Diameter of a circle (Rotonda) = 10 meters
Price per sqm = P 100
Selling price of Rotondo =
Area of a Circle = π(d/2)^2
A= 3.1416 (10 / 2)^2 = 3.1416 (25) = 78.54 sq.m.
Selling Price = Lot area x price per sq.m = 78.54 x 100 = P 7, 854
2055. A 30 hectare rectangular parcel has 600 meters on the street side. What is the depth of the parcel?
a. 500 square meters
b. 50 meters
c. 5000 meters
d. 500 meters
Solution: Area = L x W
30 hectares x 10,000 sqm/1 hectare = 300,000 sqm
300,000 = 600 x w
 Q&A In partnership with Miguelle D . Lansang
W = 300,000 m^2/ 600 m = 500 m
2056. A 30 hectare rectangular parcel measures 495.67 meters on the street side and is selling for only P20 per square meter. What is the total
selling price?
a. P60,000
b. P600,000
c. P6,000,000
d. Information is incomplete
Solution 30 hecctares x 10,000 sqm / ha = 300,000 sqm x P 20 / sqm = P 6,000,000
2057. In question no. above, the registered owner is giving a 3.5% commission directly to you as the licensed real estate broker. If you were able to
sell the entire parcel on December 25, 2015 and the Deed of Sale was notarized on December 27, 2015, how much is your commission?
a. P 101,000
b. P 120,000
c. P 121,000
d. P 210,000
Solution 6,000,000 x 0.035 = 210,000
2058. In question nos. above, the registered is obliged to pay the standard capital gains tax to the BIR district in Davao City. How much is the Capital
Gains Tax payment?
a. P 360,080
b. P 860,000
c. P 330,000
d. P 360,000
Solution: 6,000,000 x 6%= 360,000
2059. In question nos. above, when is the deadline for submission of BIR Form 1706 (Final Capital Gains Tax Return) payment?
a. January 27, 2016
b. January 25, 2016
c. January 25, 2015
d. January 26, 2016
Broker’s Note. Within 30 days from Notary of Deed of Sale
2060. In question nos. above, where is the property located?
a. Davao
b. There was no mention
c. Cannot be determined
d. Davao City
2061. In question no., if the construction cost is pegged at P72,000 per square meter, how much is the estimated building cost?
a. Cannot be determined
b. P 374,400,000
c. P 446,400,000
d. P 518,400,000
Solution: 7,200 sqm x 72,000 / sqm = 518,000,000
2062. The Current Chairperson of the PRC is (2021 update)
a. Pilar M. Torres-Banaag
b. Rafael M. Fajardo
c. Jose Arnold M. Tan
d. Ofelia C. Binag
2063. It refers to a privilege given to a foreign professional who is allowed to practice his/her profession in the Philippines for a limited period of time.
a. Alien Temporary Permit
b. Special Temporary Permit
c. Temporary Permit
d. Special Travel Permit
2064. The period within which to file an appeal before PRC decisions become final and executory.
a. 15 days from receipt of judgment
b. 15 days from the date of decision
c. 30 days from receipt of judgment
d. 30 days from the date of decision
2065. The Real Estate Service Act of the Philippines is mandated under:
a. R.A. 9646
b. R.A. 9656
c. R.A. 9664
d. R.A. 9636
2066. Any violation committed by an unlicensed real estate practitioner under R.A. 9646, including that of the IRR shall be meted the penalty of a time
of not less than:
a. P100,000.00 plus imprisonment of 2 years of both
b. At least P200,000.00 plus imprisonment of 4 years or both
c. P 100,00.00 plus 2 years imprisonment or imprisonment upon the discretion of the court
d. P 200,00.00 plus 2 years imprisonment or imprisonment upon the discretion of the court
2067. The amount of professional indemnity insurance/cash or surety bond for all real estate brokers and private real estate appraisers.
a. P 15,000.00
b. P 25,000.00
c. P 20,000.00
d. P 40,000.00
e. P 30,000.00
2068. The following persons are exempted from the acts constituting the practice of real estate service except
a. Any receiver, trustee or assignee in bankruptcy or insolvency proceedings;
b. Any person acting pursuant to the order of any court of justice
c. Any person who is a duly constituted attorney-in-fact for purposes of sale, mortgage, lease or exchange, or other similar contracts of real
estate, without requiring any form of compensation or remuneration;
d. Public Officers in the performance of their official duties and functions
e. Government assessors and appraisers.
 Q&A In partnership with Miguelle D . Lansang
2069. The government agency authorized under the law to provide comprehensive policy guidelines for the promotion and development of the real
estate industry in relation to the regulation of the practice of the real estate service profession;
a. Professional Regulation Commission
b. Accredited and Integrated Professional Organization
c. Professional Regulatory Board of Real Estate Service
d. Philippine Association of Real Estate Brokers
e. Interim Accredited Professional Organization
2070. The real estate service practitioner who shall be entitled to receive or demand a fee , commission or compensation of any kind from any person
for any service rendered or work done by a salesperson in any real estate transaction.
a. real estate dealer
b. real estate consultant
c. real estate appraiser
d. real estate broker
e. real estate assessor
2071. The membership requirement to the AIPO of a real estate practitioner shall be (2021 Supreme Court Opinion)
a. Upon approval by the AIPO
b. Upon approval by the PRBRES
c. Upon approval by the PRC
d. Automatic and mandatory
e. Voluntary
2072. The following are the elements of a valid contract except.
a. Consent of the contracting parties
b. Specific object
c. Subject matter of the contract
d. Cause or consideration of the obligations which is established
e. Promise
2073. The following are contracts or acts which must appear in a public instrument except
a. Sale of real property or of an interest thereof
b. Promise to marry
c. The power to administer property
d. Transmission of rights
e. Renunciation of hereditary rights
2074. It is a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or render some service in
return.
a. subject
b. consideration
c. contract
d. agency
e. consent
2075. It is the right of ownership whereby the owner has the right to enjoy, dispose, exclude others and recover .
a. The bundle of rights
b. The bundle of ownership
c. The power of taxation
d. The right of eminent domain
e. The law of ownership
2076. An agreement to cover a down payment for the purchase of real as evidence of good faith of the part of the purchase.
a. contract to sell
b. deed of assignment
c. binder
d. option contract
e. reservation contract
2077. A stipulation which authorizes the mortgagee to appropriate the property as his own upon failure of the debtor to fulfill the principal obligation .
a. pactum de non aliendo
b. dacion en pago
c. pacto de retro sale
d. pactum commissorium
e. agreement of sale
2078. An addition to land from natural causes as, for example, from gradual action of the ocean or the river waters.
a. Accretion
b. Avulsion
c. Alluvion
d. Accession
e. Adhesion
2079. The right of the government to acquire property for necessary public or quasipublic use.
a. eminent domain
b. police power
c. escheat
d. taxation
e. easement
2080. Right of the original owner to reclaim property sold through judicial foreclosure proceedings by payment of debt, interests, and cost.
a. redemption
b. equity of redemption
c. equity
d. right of redemption
e. foreclosure
2081. The rights of of a homeowner is governed by the law of
a. Magna Carta for Subdivision Owners
b. Magna Carta for Homeowners and Homeowner’s Association
 Q&A In partnership with Miguelle D . Lansang
c. Magna Carta for Subdivision
d. Magna Carta for Homeowners
e. Magna Carta for Homeowner’s Association
2082. It is the government agency which is tasked in the registration of homeowners’ association
a. Housing Guaranty Corporation
b. Housing and Land Use Regulatory Board
c. Housing and Urban Development Coordinating Council
d. Securities and Exchange Commission
e. National Housing Authority
2083. The following are the rights of an association member except
a. To avail of and enjoy all basic community services and the use of common areas and facilities;
b. To inspect association books and records during office hours
c. To participate, vote and be eligible for any elective or appointive office of the association
d. To demand and promptly receive deposits required by the association as soon as the condition for the deposit has been complied with or
the period has expired.
e. To compel the association to participate in civic and charitable activities
2084. The maximum amount covered in highly urbanized citie s under the Rent Control Law is
a. P 5,000.00
b. P 15,000.00
c. P 10,000.00
d. P 20,000.00
e. P 25,000.00
2085. The maximum rate per annum after the moratorium of one year from the effectivity of the Rent Control Law?
a. 10%
b. 7 %
c. 8%
d. 9%
e. 11%
2086. Under RA 10023 the requirement of any Filipino citizen who is an actual occupant of a residential land may apply for a Free Patent Title in
highly urbanized cities in which the land should not exceed
a. 100 sq.m.
b. 200 sq.m.
c. 300 sq.m.
d. 400 sq.m.
e. 500 sq.m.
2087. Under RA 10023 the period of eligibility for titling is
a. 5 years
b. 10 years
c. 15 years
d. 20 years
e. 30 years
2088. The law which protects buyers of real estate on installment payments against onerous and oppressive conditions.
a. Buyer Protection Act
b. Installment Buyer Protection Law
c. Realty Installment Buyer Protection Act
d. Realty Protection Act
e. Realty installment Protection Law
2089. The following are the types of sale which are not covered by Maceda Law except
a. sale of commercial buildings
b. residential condominium apartments
c. sale of industrial lots
d. sale with mortgage
e. sale of industrial farm lots
2090. The REIT grants incentives in order to achieve the following objectives except:
a. To make large-scale, income-producing real estate investments
b. To be accessible to ordinary investors
c. To develop the capital market;
d. To help finance and develop infrastructure projects; and
e. To protect the interest of the government
2091. The following personnel’s comprise the Anti-Money Laundering Council except:
a. The Commissioner of the Securities and Exchange Commission
b. The Commissioner of the Bureau of Internal Revenue
c. The Governor of the Banko Sentral ng Pilipinas
d. The Commissioner of the Insurance Commission
2092. The development of land for the following purposes: residential, commercial, industrial, agricultural, institutional or recreational purposes, or
any combination of such including, but not limited to, tourist resorts, reclamation projects, building or housing projects, whether for individual or
condominium ownership, memorial parks and others of similar nature.
a. Real Estate Development
b. Real Estate Development Project
c. Real Estate Project
d. Realty Development Project
2093. It refers to all the rights, interests and benefits related to the ownership of real estate .
a. Real Estate
b. Real Property
c. Real Property Development
d. Real Estate Project
2094. It measures the value of all goods and services produced within the country regardless of the nationality of the persons supplying such goods
and services.
 Q&A In partnership with Miguelle D . Lansang
a. Gross Domestic Product
b. Gross National Product
c. Gross National Income
d. Gross Domestic Income
2095. It measures the value of all goods and services produced by a country in a given year, regardless of whether such goods and services are
produced within or outside the country.
a. Gross Domestic Product
b. Gross National Product
c. Gross National Income
d. Gross Domestic Income
2096. The final transaction between a buyer and seller of real property.
a. Tripping
b. Servicing
c. Closing
d. Following up
2097. In real estate, the term is used to identify the efforts used to find or cultivate potential buyers and sellers of real property.
a. Suspect
b. Prospect
c. Client
d. Buyer or Seller
2098. The following are the criteria to find the right prospects except
a. money
b. authority
c. desire to buy
d. consent
2099. A good prospect is someone who can open doors for you to other prospects .
a. center of influence
b. center of attraction
c. influential person
d. network of influence
2100. Under RESA, Real estate service practitioners shall be required to indicate on the documents he/she signs, uses or issues in connection with
the practice of his/her profession except
a. The certificate of registration,
b. Professional identification card,
c. Community Tax Certificate(CTC) number
d. Association of Professional Organization (APO) receipt number, and the date of issuance and the duration of validity
2101. It is a calculation that measures the total income generated by an economy .
a. Gross Domestic Product
b. Gross National Product
c. Gross National Income
d. Gross Domestic Income
2102. This document will determine to what extent the unit owners are liable with regards to the tax obligation on the condominium project’s land and
common areas and the individual units.
a. Title
b. Realty Tax
c. Tax Declaration
d. Master Deed
2103. Land which has not had improvements such as buildings and other structures added to it. Such land is often left in a subdivision by a developer
or stipulated by a local authority for recreational use or for personal use by the owner
a. Open Space
b. Common Usage Area
c. Easement
2104. A legal claim against a property that must be paid off when the property is sold .
a. Leasehold
b. Liens
c. Liabilities
2105. An impediment to the use or transfer of the property in the form of an interest or right in the property .
a. Encumbrance
b. Liens
c. Liabilities
2106. A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachments,
and other physical features.
a. Zoning
b. Survey
c. Title
2107. This is the evidence or proof of one’s ownership of the condominium unit (compared to the transfer certificate of title for land ownership)
a. Condominiun Certificate Title
b. Transfer Certificate Title
c. Tax Declaration
2108. How much is the required OPEN SPACE in residential subdivisions ?
a. 25 %
b. 15%
c. 30 %
2109. Is the act of securing a certified true copy of the title and tax declaration to support a buyer’s decision in buying a property and investing a huge
amount of money.
a. Tax Mapping
b. Title Verification
c. Zoning
 Q&A In partnership with Miguelle D . Lansang
2110. It is a process in a real estate transaction, wherein the buyer should know all information, details and status of a property before consummation
of a sale.
a. Due Diligence
b. Zoning
c. Title Verification
2111. Local authority guidelines for the permitted use of land .
a. Surveying
b. Zoning
c. Tax Mapping
2112. A written contract between an owner and a real estate , authorizing the agent to perform services for the principal involving the owner’s property.
The property so listed.
a. Contract to Sell
b. Listing
c. Acknowledgement Receipt
2113. A person qualified by education, training, and experience to estimate the value of real property and personal property.
a. Appraiser
b. Sales Agent
c. Broker
2114. A proportion (usually a percentage) of the sale price of a property paid to a real estate agent for negotiating a real estate transaction.
a. Income
b. Commission
c. Withholding Tax
2115. A legal document evidencing a person’s right to or ownership of a property.
a. Deed
b. Contact
c. Title
2116. What is the tax imposed on all forms of real property (land, building, improvements, and machinery)?
a. Capital Gains Tax
b. Real Property Tax
c. Documentary Stamp Tax
2117. This service help clients to retrieve their titles or documents of ownership, including their history and current status
a. Title Research
b. Transfer of Title
c. Title Verification
2118. It is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on
certain transfers, which are made by law as equivalent to testamentary disposition.
a. Capital Gains Tax
b. Estate Tax
c. Documentary Stamp Tax
2119. A certification issued by the BIR attesting that the transfer or conveyance of land, buildings, improvement or shares of stock arising from sale,
barter or exchange had been reported to the BIR and that taxes due thereon have been fully paid.
a. Tax Declaration
b. Tax Clearance
c. Certificate Authorizing Registration ( Car )
2120. It is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the
value added to a product, material or service.
a. VALUE ADDED TAX ( VAT )
b. Capital Gains Tax
c. Documentary Stamp Tax
2121. The most common way by which estates are settled by the heirs .
a. Transfer of Title
b. Extra Judicial Settlement
c. Conversion
2122. What is the applicable tax rate of Capital Gains Tax under the National Internal Revenue Code of 1997 for Real Properties ?
a. 12%
b. 10%
c. 6%
2123. A process to officially put in writing and of record any information or evidence, desires and agreed terms and conditions of contracting party or
parties, and other texts , messages, annotations, photographs, etc.
a. Documentation
b. Transfer of Title
c. Surveying
2124. It is a tax imposed on tax on the sale, donation, barter, or any other mode of transferring ownership or title of real property at the maximum rate
of 50% of 1% (75% of 1% in the case of cities and municipalities within Metro Manila) of the total consideration involved in the acquisition of the
property or of the fair market value in case the monetary consideration involved in the transfer is not substantial, whichever is higher.
a. Documentary Stamp Tax
b. Transfer Tax
c. Capital Gains Tax
2125. It is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation,
right or property incident thereto.
a. Documentary Stamp Tax
b. Transfer tax
c. Capital Gains Tax
2126. It is a legal document that clearly indicates the location of all improvements relative to a property's boundaries. It generally contains an
illustration of the physical features of the property and a written report detailing the surveyor's opinions and concerns.
a. Digital Mapping
b. Survey Report
c. Deed of sale
 Q&A In partnership with Miguelle D . Lansang
2127. The SM Group will continue to build ________________ around its shopping malls. This would include apartments , offices and hotels to
maximize the value of its property holdings .
a. Subdivision
b. Township
c. Micro Cities
2128. It is a national government agency tasked as the planning, regulatory and quasi-judicial body for land use development and real estate and
housing regulation. These roles are done via a triad of strategies namely, policy development, planning and regulation.
a. Department of Human Settlement and Urban Development (DHSUD )
b. Pag-IBIG Home Mutual development Fund
c. Department of Trade & Industry
2129. Who is the Chief Executive Officer of Pag-IBIG Home Mutual Development Fund ?(2017 to present)
a. Atty. Antonio M Bernardo
b. Atty. Darlene Marie B. Berberabe
c. Hon. Acmad Rizaldy P. Moti
2130. RESA LAW is an act regulating the practice of real estate service in the Philippines, creating for the purpose a Professional Regulatory Board of
Real Estate Service appropriating funds therefor and for other purposes.What is the Republic Act number of this law ?
a. Presidential Decree 442
b. Republic Act 9262
c. Republic Act 9646
2131. Who is the Secretary of DHSUD ?
a. Menardo A. Sabili
b. Atty. Marilyn M. Pintor
c. Eduardo D. Del Rosario
2132. It is the Queen City of the south which is forecasted as the next best haven for property investment in Visayas according to Philippine Star ?
a. Iloilo
b. Cebu
c. Davao
2133. It is one of the two major fault segments of the Valley Fault System which runs through the cities of Marikina, Pasig and Muntinlupa and moves
in a dominantly dextral strike-slip motion.
a. East valley Fault
b. WEST VALLEY FAULT
c. Ring of Fire
2134. Who is the Chairman of HUDCC?
a. Atty. Antonio M Bernardo
b. EDUARDO D. DEL ROSARIO
c. Hon. Chito M. Cruz
2135. What is the Condominium Act of the Philippines ?
a. Presidential Decree 442
b. Republic Act 4726
c. Republic Act 9646
2136. It is an interest in real property consisting of separate interest in a unit in a residential, industrial or commercial building and an undivided
interest in common, directly or indirectly, in the land on which it is located and in other common areas of the building.
a. Subdivision
b. Townhouse
c. Condominium

X. SET 1 - CURRENT EVENTS – ANSWER KEY (SEE IN THE LAST PAGE)

2137. The current DHSUD Secretary is (2021)

a. EDUARDO D. DEL ROSARIO
b. Meynardo. A. Sabili
c. Melissa A. Aradanas
d. Atty. Angelito F. Aguila
2138. According to DHSUD Secretary, as per statistics, the housing need from 2017 – 2022 is
a. 4.5 Million units
b. 6.5 MILLION UNITS
c. 5.5 Million units
d. 7.5 Million units
2139. Again, according to DHSUD Secretary, if nothing is done or if no strategies to strengthen housing production, the housing gap by 2040 is
a. 22 MILLION UNITS
b. 12 million units
c. 32 million units
d. 42 million units
2140. The current capacity that the housing sector can build annually between 2016 and 2019 is
a. 405,000 – 605,000 units
b. 304,000 – 405,000 units
c. 102,000 – 105,000 units
d. 203,000 – 205,000 UNITS
2141. In 2018, how much the losses of the economy in NCR due to road congestion
a. P2.50 billion per day
b. P3.50 BILLION PER DAY
c. P4.5 billion per day
d. P5.5 billion per day
2142. According to Philippine Institute for Development Studies as of December 2020, what are the projects in the flagship list of “Build, Build, Build”
program have been completed
a. Angat Water Transmission Improvement Project
b. Luzon Bypass Infrastructure Project
 Q&A In partnership with Miguelle D . Lansang
c. C6 Extension
d. A AND B
2143. As of December 2020, what sector in the “Build, Build, Build” program has the largest spending of 74.4% of the total spending
a. Water projet
b. Social infrastructure project
c. Healthcare project
d. TRANSPORT PROJECT
2144. The 2021 General Appropriation Act authorizes a national budget of P4.50 trillion in 2021 , how much of this for public infrastructure
a. AT LEAST P1.10 TRILLION
b. At least P1.20 trillion
c. At least P1.30 trillion
d. At least P1.40 trillion
2145. Infra spending increased from 3.9% of GDP in 2016 to ______ in 2019.
a. 5.1%
b. 5.2%
c. 5.3%
d. 5.4%
2146. As of August 2021. Approximately 1.70 million people had been confirmed as infected with the COVID-19 virus. Of those, how many have
recovered.
a. 1.33 million
b. 1.44 million
c. 1.55 MILLION
d. 1.66 million
2147. According to the Philippine Economic Update released by World Bank , the forecast of Philippine economy this 2021 is
a. 6.0%
b. 5.9%
c. 4.7%
d. 3.5%
2148. Who is the World Bank Country Director for Brunei, Malaysia, Philippines and Thailand
a. NDIAME DIOP
b. Kevin Chua
c. Kim Eng
d. Lee Ju Ye
2149. As of August 2021, how many people received the first two doses of the COVID-19 vaccine in the Philippines
a. 10 million
b. 11 million
c. 12 million
d. 13 million
2150. Investors prefer REITs because of, EXCEPT
a. Diversification
b. Higher risk
c. Lower risk
d. Higher risk
2151. How do REITs make money
a. Fee income
b. Trading income
c. Equity income
d. Rent income
2152. How many percent that REITs are required to pay out to their investors
a. At least 50% of their taxable income
b. At least 80% of their taxable income
c. AT LEAST 90% OF THEIR TAXABLE INCOME
d. At least 99% of their taxable income
2153. Top reasons why invest on REITs, EXCEPT
a. HIGHER RISK
b. Lower risk
c. Zero contract and obligation
d. Higher earning potential
2154. Some of REITs in the Philippines registered in the PSE, EXCEPT
a. DoubleDragon REIT
b. Filinvest REIT
c. GOLDENLAND REIT
d. Ayala Land REIT (AREIT), Inc.
2155. Philippine first REIT firm
a. DoubleDragon REIT
b. Filinvest REIT
c. GoldenLand REIT
d. Ayala Land REIT (AREIT), Inc.
2156. Effective date of IRR of REIT
a. May 13, 2009
b. May 13, 2010
c. May 13, 2011
d. May 13, 2012
2157. Rules for REIT, EXCEPT
 Q&A In partnership with Miguelle D . Lansang
a. Listed in PSE
b. Minimum paid-up capital of P300 Million
c. 70% of investment in real estate assets
d. 89% of the net income is distributed as dividend
2158. REITs are like
a. Insurance
b. Equities
c. Bonds
d. Mutual Funds
2159. Disadvantages of REITs, EXCEPT
a. Real estate is cyclical and goes with the income
b. Subject to tax hikes on properties imposed locally and nationally
c. Slower growth compared to other equities
d. REAL ESTATE BEATS THE EFFECT OF INFLATION
2160. Ways to invest in REITs, EXCEPT
a. through stock trading
b. through UITF
c. THROUGH INSURANCE PREMIUM
d. through REIT-eligible brokers
2161. Total ROI of AREIT, Inc for the year 2020
a. 8.7%
b. 2.7%
c. 12.35%
d. 11.87%
2162. What developer that has the highest 2020 net income of P18 Billion
a. Ayala Land Inc.
b. Megaworld Corporation
c. Filinvest Development
d. SM PRIME HOLDINGS, INC
2163. The following are Tokyo Olympic medalists 2021, EXCEPT
a. CARLO PAALAM
b. HIDILYN DIAZ
c. EUMIR MARCIAL
d. Mansuelo Velasco Jr.
2164. City with highest population
a. Davao City
b. Caloocan City
c. Manila City
d. QUEZON CITY
2165. Hall of Famer Awardee for 2020 Rankings for Cities and Municipalities Competitive Index
a. Manila City
b. Antipolo City
c. Cebu City
d. QUEZON CITY
2166. 1st Place for 2020 Most Competitive Province
a. PROVINCE OF RIZAL
b. Province of Davao del Norte
c. Province of Camiguin
d. Province of Zamboanga Peninsula
2167. 1st Place for 2020 Most Competitive Highly Urbanized Cities
a. Davao City
b. MANILA CITY
c. Pasay City
d. Makati City
2168. 1st Place for 2020 Most Competitive Component Cities
a. Tagum City
b. Legazpi City
c. ANTIPOLO CITY
d. Pagadian City
2169. 1st Place for 2020 Most Competitive 1st to 2nd Class Municipalities
a. CAINTA, RIZAL
b. Taytay, Rizal
c. Baliuag, Bulacan
d. Sta. Maria, Bulacan
2170. After 5 years of “Build, Build, Build” Program of the government, the following are the accomplishment or completed projects, EXCEPT
a. 29,264 KM OF ROADS, 222 EVACUATION CENTERS, AND 89 TIKAS PROJECTS,
b. 150,143 CLASSROOMS AND 653 COVID-19 FACILITIES
c. 214 AIRPORT PROJECTS, 451 COMMERCIAL AND SOCIAL / TOURISM SEAPORT PROJECTS
d. 2 phases for PNR Clark, 50 railways
2171. 2021 vacancy rate according to Donn Fredrick Andaya, Colliers Director for Office Services
a. 12.7%
b. 11.5%
c. 15.6%
d. 10.8%
2172. As of the end of the first half of 2021 , the total vacant office space in Metro Manila is
 Q&A In partnership with Miguelle D . Lansang
a. 1.6 MILLION SQM
b. 85,000 sqm
c. 224,000 sqm
d. 12.67 million sqm
2173. Who is the current Chief Executive Officer of Pag-ibig Fund (2021)
a. Tina Rose Marie L. Caluda
b. ACMAD RIZALDY P. MOTI
c. Ramon M. Lopez
d. Silvestre H. Bello III
2174. According to World’s Best Awards Survey for 2021, what are the Top 3 Islands in the World
a. MILOS, GREECE; FOLEGANDRAS, GREECE; AND ST. VINCENT AND GRENADINES
b. Madeira, Portugal; Andaman Islands, India; and Sicily, Italy
c. Koh Samui, Thailand; Bali, Indonesia; Island of Hawaii
d. Galapagos Islands, Ecuador; Kauai, Hawaii; and Santorini, Greece
2175. According to World’s Best Island Award survey, the Top 3 best islands in Asia are the following , EXCEPT
a. ANDAMAN ISLANDS, INDIA
b. KOH SAMUI, THAILAND
c. BALI, INDONESIA
d. Palawan, Philippines
2176. Who is the Executive Commissioner of Human Settlements Adjudication Commission (HSAC)
a. Atty. Edgardo L. Samon
b. Atty. Sergio E. Yap II
c. ATTY. MELZAR P. GALICIA
d. D. Atty. Fidel J. Exconde Jr.
2177. What is the function of HSAC
a. ADJUDICATORY FUNCTION
b. regulatory function
c. central housing authority function
d. main policy making function
2178. Who is the Chief Regional Adjudicator (Director III) of HSAC RAB – NCR
a. Atty. Donn C. Tamayo
b. Atty. Ligaya G. Liclican – Haban
c. Atty. Michael P. Bajao
d. ATTY. EDGARDO L. SAMSON

Y. SET 3 LAND MANAGEMENT SYSTEM AND SOME RELATED LAWS – (ANSWER KEY AT THE LAST PAGE)

2179. Which of the following are lands of the public domain according to the Public Land Act
a. Alienable and disposable
b. Timber
c. Mineral lands
d. All of the above
2180. DHSUD is created through the consolidation of the following , EXCEPT
a. HUDCC
b. NHA
c. HLURB
d. None of the above
2181. Refers to the program of the NHA of upgrading and improving blighted squatters’ area within the cities and municipalities of Metro Manila
pursuant to existing statutes
a. ZONAL IMPROVEMENT PROGRAM
b. Urban Renewal and Resettlement
c. Balanced Housing Development
d. Community Mortgage Program
2182. The Following are DHSUD Bureaus, EXCEPT
a. ELU-UNDB
b. HREDRB
c. HACDB
d. HSACB
2183. The IRR of RA 11201 was approved
a. May 19, 2019
b. June 19, 2019
c. JULY 19, 2019
d. August 19, 2019
2184. The following are the effects of CREATE Act, EXCEPT
a. Lowering of Percentage Tax Rate from 3% to 1%
b. Deduction of 10% for Building and 20% for Machinery and Equipment
c. Lowering of Corporate Tax Rate form 30% to 25% or 20% for the qualified
d. DEDUCTION OF 2% VAT UNTIL 2023
2185. Refers to an official document, a service standard or a pledge that communicates in simple terms information on the services provided by the
government to its citizens. It describes the step-by-step procedure for availing a particular service and the guaranteed performance level that
they may expect for that service.
a. CSC Handbook
b. Service Manual
c. CITIZEN’S CHARTER
d. Public Logbook
2186. The penalty or criminal liability for fixers
 Q&A In partnership with Miguelle D . Lansang
a. IMPRISONMENT OF NOT EXCEEDING SIX YEARS
b. FINE OF P20,000 TO P200,000
c. BOTH FINE AND IMPRISONMENT
d. All of the above
2187. For PD 957 development, the land allocation for one hectare or more of the gross area is
a. maximum 70% saleable area and minimum 30% nonsaleable area
b. minimum 70% saleable area and maximum 30% nonsaleable area
c. maximum 70% saleable area and maximum 30% nonsaleable area
d. minimum 70% saleable area and minimum 30% nonsaleable area
2188. For PD 957 development, for the density of 51-65 dwelling unit per hectare, the allocation in percent of gross are for parks / playground is
a. 9%
b. 8%
c. 7%
d. 6%
2189. For PD 957 development, the following are the number of saleable lots in order the developer must provide ALL facilities in the project,
EXCEPT
a. 1,000 - 1499
b. 2;000 - 2499
c. 2,500 - 2999
d. none of the above
2190. Refers to a street or a road that services pedestrian / vehicular traffic from minor roads leading to major roads
a. Alley
b. Service Road
c. Collector Road
d. Main Road
2191. What is the width of the ROW for and ALLEY for both Open and Medium Cost
a. 1 m
b. 2 m
c. 3 m
d. 4m
2192. Subdivision projects abutting main public road must provide a setback of
a. 5 m deep by 3 m length in both sides
b. 3m deep by 5m length in right side
c. 5 m deep by 3 m length in left side
d. 3 m deep by 5 m length in both sides
2193. Minimum lot area for single attached for medium cost
a. 50 sqm
b. 100 sqm
c. 60 sqm
d. 80 sqm
2194. Minimum lot area for single detached of Open Market
a. 120 sqm
b. 100 sqm
c. 96 sqm
d. 60 sqm
2195. Minimum lot frontage for single detached interior lot of PD 957 subdivision
a. 6 m
b. 5 m
c. 4 m
d. 3 m
2196. The average daily demand for water requirement
a. 100 liters per capita per day
b. 150 liters per capita per day
c. 200 liters per capita per day
d. 250 liters per capita per day
2197. In RA 10884, the owners and/or developers of proposed subdivision and condominium project shall be required to develop an area for
socialized housing equivalent to the following, EXCEPT
a. at least 15% of the total subdivision area or total subdivision project cost
b. at least 5% of condominium area or project cost
c. at least 20% of the total subdivision or condominium areas or cost
d. None of the above.
2198. The following are types of nuisance, EXCEPT
a. EXCESSIVE NOISE
b. ILLEGAL SHANTIES IN PUBLIC AND PRIVATE PROPERTIES
c. ACCUMULATION OF REFUSE
d. Breeding places and harborage of cows
2199. The following are examples of “refuse”, EXCEPT
a. GARBAGE
b. SEWAGE AND INDUSTRIAL WASTES
c. OTHER WASTES
d. LIME CINDER ASHES
2200. The following waters belong to the State , EXCEPT
a. Rivers and their natural beds
b. Seawater
c. Subterranean or ground waters in private land
d. water from a registered deep well
2201. It means discharge from known sources which is passed into a body of water or land or wastewater flowing out of a manufacturing plant,
industrial plant including domestic, commercial and recreational facilities
 Q&A In partnership with Miguelle D . Lansang
a. Effluent
b. Affluent
c. Contamination
d. Dumping
2202. It means any solid, semi-solid or liquid waste or residue generated from a wastewater treatment plant, etc., or any other such waste having
similar characteristics and effects
a. Septage
b. Sewage
c. Toxic
d. Sludge
2203. Refers to the process by which the absorption of infrared radiation by the atmosphere warms the earth .
a. Global warming
b. Climate risk
c. Climate change
d. Greenhouse effect
2204. It refers to duly registered associations of persons with a common bond of interest who have voluntarily joined together to achieve a lawful
common social and economic end, making equitable contributions to the capital required and accepting a fair share of the risk and benefits of
the undertaking in accordance with universally accepted principles
a. Homeowners association
b. Neighborhood association
c. Corporation
d. Cooperative
2205. Refers to the document, formulated by the local government in consultation with its stakeholders, that defines or provide guidelines on the
allocation, utilization, development and management of all lands, within a given territory or jurisdiction, including municipal waters according to
the inherent qualities of the land itself and supportive economic, demographic, socio-cultural and environmental objectives
a. CMP
b. CLUP
c. ECC
d. EIA
2206. Refers to non-agricultural lands in urban and urbanizable areas on which no improvements have been made by the owner, as certified by the
city, municipal or provincial assessor
a. Land banking
b. Off-city relation area
c. Prototype project
d. Idle lands
2207. Refers to housing that is equipped with an adequate capacity to resist, absorb and accommodate the effects of climate change and hazards
and to return to normal condition in a timely and effective manner without significant changes to its basic functions and structures
a. Pyramid housing
b. Off-city housing
c. RESILIENT HOUSING
d. Green Housing
2208. Refers to subdivisions, condominiums, townhouses, memorial parks, columbaria and other similar projects which by law are subject to the
regulatory jurisdiction of the DHSUD
a. Rental housing projects
b. REAL ESTATE PROJECTS
c. Socialized housing projects
d. Rural development projects
2209. How much is the socialized housing tax as per RA 7279, as amended
a. Additional of 0.25% tax on the assessed value of all lands in urban areas in excess of P50,000
b. Additional of 0.75% tax on the assessed value of all lands in urban areas in excess of P50,000
c. Additional of 1% tax on the assessed value of all lands in urban areas in excess of P50,000
d. ADDITIONAL OF 0.5% TAX ON THE ASSESSED VALUE OF ALL LANDS IN URBAN AREAS IN EXCESS OF P50,000 .
2210. Refers to the division of a community into districts in order to maximize, regulate and direct their use and development according to the CLUP
a. Zoning ordinance
b. ZONING
c. Land use plan
d. Urban development planning
2211. Act as the primary national government entity responsible for the management of housing, human settlement and urban development
a. HUDCC
b. NHA
c. DHSUD
d. HLURB
2212. The following are the general powers and functions of the DHSUD, EXCEPT
a. Serve as a voting member of the NEDA Board
b. Recommend new legislation and amendments to existing laws as may be necessary xxx in housing and urban development
c. Enter into contracts, joint venture agreements, etc., subject to existing laws
d. FORMULATE AND ENFORCE GENERAL AND SPECIFIC POLICIES FOR HOUSING DEVELOPMENT AND RESETTLEMENTS
2213. It function as a production and financing arm in housing and shall exercise all other functions based on its exiting charter and its other mandates
as provided under existing laws.
a. DHSUD
b. NHA
c. HDMF
d. NHMFC
2214. It is the lead government agencies tasked to develop and implement social housing program for low-income groups in the formal and informal
sectors, esp. the underprivilege and homeless
a. CMP
b. SHFC
c. HDMF
 Q&A In partnership with Miguelle D . Lansang
d. DHSUD
2215. It shall provide a mutual provident savings system for private and government employees and other earning groups, supported by matching
mandatory contributions of their respective employees, with housing as the primary investment
a. SSS and GSIS
b. NHA and NHMFC
c. HDMF or Pag-ibig
d. SHFC and CMP
2216. How many Assistant Secretaries the DHSUD Secretary
a. 1
b. 2
c. 3
d. 4
2217. The following are the authority and responsibility of DHSUD Secretary, EXCEPT
a. Ratify the CLUPs of independent component cities, highly urbanized cities, Metro Manila LGUs, and of provinces
b. Approve all socialized compliance and compliance projects of main subdivision and condominium projects of main subdivision and
condominium projects under Sec. 18 of RA 7279 as amended by RA 10884 and its IRRs
c. Promulgate rules, regulations and other issuances xxx or interpreting the provision of the acts of this Rules
d. ADMINISTER A SUSTAINABLE FUND WITH INTEGRITY, SOUND FINANCIAL PRINCIPLES .
2218. The following are the powers and functions of Environmental, Land Use and Urban Planning Bureau (ELU-UPB), EXCEPT
a. Formulation and updating of CLUPs and Zos, or PCLUPs of PPFP
b. Formulate housing finance and production policies that will promote the establishment of self-sustaining housing
c. FORMULATE HOUSING FINANCE AND PRODUCTION POLICIES THAT WILL PROMOTE THE ESTABLISHMENT OF SELF-
SUSTAINING HOUSING
d. Formulate national urban development policies, strategies and standards
2219. The following are the powers and functions of Housing and Real Estate Development Regulation Bureau (HREDRB), EXCEPT
a. FORMULATE PLANNING GUIDELINES, STANDARDS AND DEVELOPMENT CONTROL ON URBAN DEVELOPMENT
b. Formulate housing finance and production policies
c. Formulate national housing policies, strategies, and standards such as resettlement housing programs, and land banking and other mode
of land acquisition for the homeless and underprivilege
d. Formulate and prescribe policies and regulation for the continuation and expansion of rental regulation of certain residential units, in
accordance with RA 953
2220. The following are the powers and functions of Homeowners Associations and Community Development Bureau (HOA-CDB), EXCEPT
a. Regulate and supervise the activities and operations of HOAs, neighborhood associations, federations, etc., and other similar associations
in subdivision projects or government housing projects.
b. COORDINATE WITH OTHER AGENCIES WHEN NECESSARY FOR THE EFFECTIVE PERFORMANCE OF THE DHSUD’S REAL
ESTATE DEVELOPMENT FUNCTIONS.
c. Formulate or amend standard governing documents of HOAs and neighborhood associations.
d. Develop plans and programs promoting community organizations as government partners for community development
2221. The term “Commission” in RA 11201 refers to
a. Professional Fee
b. Commission on Appointment
c. Professional Regulation Commission
d. HUMAN SETTLEMENT ADJUDICATION COMMISSION
2222. The following are attached corporations to DHSUD for purposes of policy and program coordination, monitoring and evaluation, EXCEPT
a. NHA and NHMFC
b. HDMF
c. SSS and GSIS
d. SHFC
2223. HLURB is reconstituted under RA 11201 and now known as
a. HUMAN SETTLEMENTS ADJUDICATION COMMISSION (HSAC)
b. Environmental, Land Use Planning and Development Bureau
c. Housing and Real Estate Development Regulation Bureau
d. National Human Settlement Board
2224. The following are the functions of Human Settlements Adjudication Commission (HSAC), EXCEPT
a. Assume and continue to perform the adjudication function of HLURB
b. Shall be attached to the DHSUD for policy, planning and program coordination only
c. Cases involving HOAs
d. CONDUCT CONTINUING AND COMPREHENSIVE DATA-DRIVEN AND EVIDENCE-BASED STUDIES AND RESEARCH NECESSARY
FOR HOUSING AND URBAN DEVELOPMENT
2225. Minimum size for memorial lot
a. 1.0m x 2.44 m
b. 1.0m x 2.33 m
c. 1.0m x 2.22 m
d. 1.0 m x 2.11 m
2226. Minimum depth excavation of memorial lot
a. at least 1.8 meter deep
b. at least 1.7 meter deep
c. at least 1.6 meter deep
d. at least 1.5 meter deep
2227. Maximum height of memorial structure above the ground
a. 30 cm
b. 40 cm
c. 50 cm
d. 60 cm
2228. Minimum burial plot size for tomb
a. 1.4 m x 3 m inside dimension
b. 1.5 m x 3 m inside dimension
c. 1.6 m x 3 m inside dimension
 Q&A In partnership with Miguelle D . Lansang
d. 1.7 m x 3 m inside dimension
2229. Minimum plot size for Mausoleums
a. 10 m x 11 m
b. 8 m x 9 m
c. 6 m x 7 m
d. 4 m x 5 m

Z. SET 2 LAND MANAGEMENT SYSTEM AND SOME RELATED LAWS – (ANSWER KEY AT THE LAST PAGE)

2230. An Act that promote and encourage the development of economic and socialized housing projects, primarily by the private sector.
a. BP 220
b. PD 957
c. RA 7279
d. RA 10884 – Balance Housing Development
2231. In relation to Q1, it was approved on
a. July 12, 1976
b. March 24, 1992
c. July 17, 2016
d. March 25, 1982
2232. An Act to Provide for a Comprehensive and Continuing Urban Development and Housing Program, Establish for its Implementation, and for
other Purposes.
a. RA 10884 - An Act Strengthening the Balanced Housing Development Program, Amending for the Purpose Republic Act No. 7279.
b. BP 220
c. RA 7279
d. PD 957
2233. In relation to Q3, the law was approved on
a. July 12, 1976
b. March 24, 1992
c. July 17, 2016
d. March 25, 1982
2234. It is known as The Subdivisions and Condominium Buyers Protective Decree
a. RA 6552
b. BP 220
c. RA 9394 - An Act Converting The Municipality Of Borongan In The Province Of Eastern Samar Into A Component City To Be Known As
The City Of Borongan
d. PD 957
2235. In relation to Q5, it was approved on
a. August 26, 1972
b. March 25, 1982
c. July 12, 1976
d. April 13, 1982
2236. This Act is known as Consumer Act of the Philippines
a. PD 957
b. RA 7394
c. RA 386 - An Act To Ordain And Institute The Civil Code Of The Philippines
d. 1987 Constitution -
2237. Known as The Public Land Act
a. PD 27
b. RA 11573 – An Act Improving The Confirmation Process For Imperfect Land Titles (Ca.141 & Pd 1529.
c. CA 141
d. PD 1529 – Amending And Codifying The Laws Relative To Registration Of Property And For Other Purposes
2238. Known as The Anti-Terrorism Act of 2020
a. RA 9372 – Human Security Act.
b. RA 11479 – An Act To Prevent, Prohibit And Penalize Terrorism, Thereby Repealing Republic Act No. 9372, Otherwise Known As The
"Human Security Act Of 2007"
c. RA 11529 – An Act Separating The Lubon National High School – Mabalite Extension In Barangay Mabalite, Municipality Of Tadian,
Mountain Province From The Lubon National High School, Converting It Into An Independent National High School To Be Known As
Mabalite National High School, And Appropriating Funds Therefor.
d. RA 9194 - Amendment to the Anti-Money Laundering Act of 2001
2239. Known as the Human Security Act of 2007
a. RA 11479 -
b. RA 11529 -
c. RA 9194 -
d. RA 9372
2240. Known as The Fire Code of the Philippines of 2008
a. PD 1067 – Water Code
b. PD 856 – Code of Sanitation
c. RA 9514
d. RA 8749 – Philippine Air Act
2241. Known as Tourism Act of 2009
a. RA 1478 – An Act to Create a Board of Travel & Tourist Industry, Defining Its Powers, Duties & Responsibilities, & for other purposes.
b. RA 10066 – An Act Providing for the Protection and Conservation of the National Cultural Heritage, Strengthening the National
Commission for Culture & the arts (NCCA) and its affiliated cultural agencies, and for other purposes.
c. RA 10816 - An Act Providing For The Development And Promotion Of Farm Tourism In The Philippines
d. RA 9593
2242. Known as The Magna Carta for Homeowners and Homeowners Association
 Q&A In partnership with Miguelle D . Lansang
a. RA 3776 – An Act Granting Dionisio Parulan a Franchise to Install, Operate and Maintain a Telephone System in the City of Gingoog
b. RA 9904
c. RA 11232 – Act Providing for the Revised Corporation Code of the Philippines
d. BP 68 - The Corporation Code of the Philippines
2243. Known as the Department of Human Settlement and Urban Development Act
a. RA 11201
b. EO 71 – Devolving The Powers Of The Housing And Land Use Regulatory Board To Approve Subdivision Plans To Cities And
Municipalities Pursuant To R.A. No. 7160, Otherwise Known As The Local Government Code Of 1991
c. EO 72 – Providing For The Preparation And Implementation Of The Comprehensive Land Use Plans Of Local Government Units Pursuant
To The Local Government Code Of 1991 And Other Pertinent Laws
d. PD 957
2244. Known as An Act Authorizing the Issuance of Free Patents to Residential Lands
a. RA 10023
b. PD 1529 -
c. PD 27 -
d. RA 11573 -
2245. Known as Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act
a. RA 8424 – National Internal Revenue Code
b. RA 11534
c. RA 11213 – An Act Enhancing Revenue Administration and Collection by Granting an Amnesty on All Unpaid Internal Revenue Taxes
Imposed by the National Government for Taxable Year 2017 and Prior Years with Respect to Estate Tax, Other Internal Revenue Taxes,
and Tax on Delinquencies
d. RA 10963 – Tax Reform for Acceleration and Inclusion (TRAIN)"
2246. Known as the National Internal Revenue Code of 1997
a. RA 10963
b. RA 8424
c. RA 11534 – known as the “Corporate Recovery and Tax Incentives for Enterprises” (CREATE)
d. RA 11213
2247. Known as An Act to Improve Efficiency in the Delivery of Government Service to the Public by Reducing Bureaucratic Red Tape, Preventing
Graft and Corruption, and Providing Penalties Thereof or Anti-Red Tape Act of 2007
a. RA 11032 – An Act Promoting Ease Of Doing Business And Efficient Delivery Of Government Services, Amending For The Purpose
Republic Act No. 9485, Otherwise Known As The Anti-Red Tape Act Of 2007, And For Other Purposes
b. RA 2260 – An Act To Amend And Revise The Law Relative To Philippine Civil Service
c. RA 8291 – An Act Amending Presidential Decree No. 1146, As Amended, Expanding And Increasing The Coverage And Benefits Of The
Government Service Insurance System, Instituting Reforms Therein And For Other Purposes
d. RA 9485
2248. Known as The IRR of the Anti-Red Tape Act of 2007 was approved on
a. June 24, 2008
b. July 24, 2008
c. August 24, 2008
d. September 24, 2008
2249. Known as Bayanihan to Heal as One Act
a. RA 11494 – Bayanihan to Recover as One Act
b. RA 8371
c. RA 11469
d. RA 6969
2250. IRR of Bayanihan to Heal as One Act was approved on
a. April 1, 2020
b. May 1, 2020
c. June 1, 2020
d. July 1, 2020
2251. Known as Bayanihan to Recover as One Act
a. RA 8371 – Indigenous People Right Act.
b. RA 11494
c. RA 6969 – An Act To Control Toxic Substances And Hazardous And Nuclear Wastes, Providing Penalties For Violations Thereof, And For
Other Purposes
d. RA 11469
2252. Known as Ecological Solid Waste Mangement Act of 2000
a. RA 9003
b. PD 856
c. PD 1067
d. PD 1151 – Ph. Environmental Policy
2253. Known as Philippine Clean Air Act of 1999
a. PD 1067 – Water Code
b. RA 8749
c. PD 856 – Code of Sanitations
d. PD 1151
2254. Known as Philippine Fisheries Code of 1998
a. RA 5173
b. RA 9522
c. RA 8550
d. RA 3046
2255. Known as Indigenous People’s Right Act of 1997
a. RA 11054
b. RA 6734
c. RA 9054
 Q&A In partnership with Miguelle D . Lansang
d. RA 8371
2256. Known as Philippine Mining Act
a. RA 9275
b. RA 8749
c. PD 1586
d. RA 7942
2257. Known as Strategic Environmental Plan for Palawan Act.
a. RA 6969
b. RA 9003
c. RA 7611
d. RA 9512
2258. Known as National Integrated Protected Areas System Act of 1992
a. RA 9147
b. RA 7586
c. PD 1586
d. RA 9003
2259. Known as People’s Small-Scale Mining Act of 1991
a. RA 7076
b. RA 7942
c. PD 1586
d. RA 6969
2260. Known as Toxic Substances and Hazardous and Nuclear Wastes Control Act of 1990
a. RA 8749
b. PD 1586
c. RA 6969
d. RA 9003
2261. Known as An Act to Prohibit the Cutting, Destroying or Injuring of Planted or Growing Trees, etc., along Public Roads in Plazas, Parks, School
Premises or in any other Public Ground.
a. RA 9512
b. RA 9003
c. PD 1586
d. RA 3571
2262. Establishing an Environmental Impact Statement System, Including Other Environmental Management Related Measures and for other
Purposes
a. PD 1586
b. RA 6969
c. RA 9003
d. RA 9512
2263. Philippine Environmental Policy
a. RA 8749
b. RA 9275
c. PD 1151
d. PD 1586
2264. Known as Water Code of the Philippines
a. PD 856
b. PD 1067
c. RA8749
d. RA 9514
2265. Known as Code on Sanitation of the Philippines
a. PD 856
b. PD 1151
c. PD 1586
d. RA 8749
2266. Known as Revised Forestry Code of the Philippines
a. PD 1151
b. PD 1152
c. PD 1153
d. PD 705
2267. Rules of Procedure for Environmental Cases
a. PD 1219
b. RA 10068
c. RA 10816
d. Administrative Matter No. 09-6-8-SC
2268. Known as The Philippine Archipelago Baseline Law
a. RA5173
b. RA 9522
c. PD 979
d. PD 474 s. 1974
2269. Known as Renewable Act of 2008
a. RA 7920
b. RA 9513
c. RRA 9154
d. PD 1096
2270. Known as Agriculture and Fisheries Modernization Act of 1997
a. RA 10601
b. RA 8435
 Q&A In partnership with Miguelle D . Lansang
c. RA 10068
d. RA 10848
2271. Known as Comprehensive Agrarian Reform Law of 1998
a. RA 3844
b. RA 6657
c. RA 7881
d. RA 7905
2272. Known as The Public Land Act
a. CA 141
b. PD 27
c. PD 1529
d. 11573
2273. Known as An Act Authorizing the Issuance of Free Patents to Residential Lands
a. RA 10023
b. CA 141
c. PD 27
d. PD 1529
2274. Known as Climate Change Act of 2009
a. RA 8749
b. RA 9514
c. PD 1151
d. RA 9729
2275. Known as National Environmental Awareness and Education Act of 2008
a. RA 9729
b. PD 1151
c. RA 9512
d. RA 8749
2276. Known as Philippine Clean Water Act of 2004
a. RA 8749
b. RA 9275
c. PD 856
d. PD 1067
2277. Known as Wildlife Resources Conservation and Protection Act.
a. RA 7586
b. PD 705
c. RA 9147
d. RA 8455
2278. An Act Extending the period until December 2020 for the Filing of Applications for Administrative legalization (Free Patent ) and Judicial
Confirmation of Imperfect and Incomplete Titles to Alienable and Disposable Lands of the Public Domain, Amending CA 141, as amended
a. RA 9176
b. RA 10027
c. PD 1529
d. RA 11569
2279. Known as Biofuels Act of 2006
a. RA 9593
b. RA 9513
c. Act 2719
d. RA 9367
2280. Known as Rent Control Act of 2009
a. RA 9341
b. RA 8368
c. RA 9653
d. RA 8437
2281. Known as GOCC Governance Act of 2011
a. RA 10149
b. RA 8291
c. RA 11199
d. RA 1161
2282. Known as Salary Standardization Law
a. RA 6727
b. RA 6758
c. PD 442
d. RA 602
2283. Known as Code of Sanitation of the Philippines
a. RA 9275
b. PD 1067
c. RA 8749
d. PD 856
2284. Known as The Urban Land Reform
a. CA 141
b. PD 1517
c. PD 1529
d. RA 10023
2285. Known as Property Registration Decree
a. RA 386
b. RA 9646
 Q&A In partnership with Miguelle D . Lansang
c. PD 1529
d. PD 957
2286. Known as PRC Modernization Act of 2000
a. PD 223
b. RA 8981
c. Proc. 1276
d. RA 9646
2287. Known as Urban Development and Housing Act of 1992
a. RA 7279
b. RA 9507
c. RA 9397
d. RA 10884
2288. 59 Known as Balance Housing Development Program Amendments
a. RA 10884
b. RA 7279
c. RA 9507
d. RA 9397
2289. Known as Real Estate Act of the Philippines
a. RA 9646
b. RA 4696
c. RA 9664
d. RA 4669
2290. Known as An Act Authorizing the issuance of Free Patents to Residential Lands
a. PD 1529
b. PD 27
c. CA 141
d. RA 10023
2291. Known as The Condominium Act
a. RA 7899
b. BP 220
c. RA 4726
d. PD 957
2292. Known as Realty Installment Buyer Protection Act
a. RA 6552
b. PD 957
c. RA 7394
d. RA 7835
2293. Known as Comprehensive and Integrated Shelter financing Act of 1994
a. RA 8368
b. RA 7835
c. RA 8501
d. RA 8556
2294. Known as An Act Amending Section 4 and Section 16 of RA 4726
a. BP 220
b. PD 957
c. RA 7899
d. RA 6552
2295. Known as An Act Instituting a New System of Mineral Resources Exploration, Development, Utilization, and Conservation
a. EO 79
b. RA 7942
c. PD 463
d. DAO 2010-21
2296. Known as Anti-Squatting Law Repeal Act of 1997
a. EO 129
b. RA 7279
c. RA 8368
d. PD 772
2297. Known as An Act Further Extending the Rent Control Period for Certain Residential Units Amending thereby BP 877
a. RA 9341
b. RA 9653
c. PD 957
d. RA 8437
2298. Known as Housing Loan Condonation Act of 1998
a. RA 9507
b. RA 9397
c. RA 9341
d. RA 8501
 Q&A In partnership with Miguelle D . Lansang

2299. Known as Citizenship Retention and Reacquisition Act of 2003

a. RA 9225
b. BP 185
c. RA 9139
d. CA 473
2300. Known as Rent Control Act of 2005
a. RA 9653
b. RA 9341
c. RA 8437
d. RA 8368
2301. Known as An Act Amending Section 12 of RA 7279
a. RA 9357
b. RA 10884
c. RA 9507
d. BP 220
2302. Known as Socialized and Low-Cost Housing Loan Restructuring Act of 2008
a. RA 9507
b. PD 772
c. RA 7279
d. RA 9904
2303. Known as Rent Control Act of 2009
a. RA 9341
b. RA 8437
c. RRA 9653
d. RA 8368
2304. Known as Real Estate Investment Trust (REIT) Act of 2009
a. RA 5186
b. RA 9856
c. RA 7042
d. RA 7652
2305. Known as Magna Carta for Homeowners and Homeowners Association
a. RA 9904
b. RA 6713
c. RA 6770
d. RA 8044
2306. Known as Balance Housing Development Program Amendments
a. RA 7279
b. PD 772
c. RA 9507
d. RA 10884
2307. Known as Department of Human Settlement and Urban Development Act
a. EO 71
b. RA 11201
c. EO 72
d. RA 9397
2308. Known as Real Estate Mortgage Law
a. RA 9341
b. Act 3135
c. BP 33
d. RA 4882
2309. Known as Act that Amends Act 3135
a. RA 4882
b. Act 1508
c. RA 4118
d. BP 33
2310. Known as An Act to Strengthen the Implementation of Comprehensive Agrarian Reform Program, and for Other Purposes
a. RA 7905
b. RA 6657
c. Act 4054
d. RA 1199
2311. Known as Anti-Money Laundering Act of 2001
a. RA 9194
b. RA 9160
c. RA 1152
d. PD 818
2312. Known as An Act Amending RA 9160
a. RA 11521
D.
 b. RA 9160
c. RA 9194
d. PD 818
2313. Known as Tourism Act of 2009
a. RA 9593
b. RA 10816
c. RA 1478
d. RA 710
2314. Known as An Act Strengthening CARP, Extending the Acquisition and Distribution of All Agricultural lands
a. RA 7905
b. RA 1400
c. RA 9700
d. RA 821
2315. Known as The National Payment Systems Act
a. RA 11211
b. RA 7875
c. RA 6975
d. RA 11127
2316. Known as Malasakit Centers Act
a. RA 11223
b. RA 7883
c. RA 11463
d. RA 7875
2317. Known as TRAIN Law
a. RA 10963
b. RA 4566
c. PD 1746
d. RA 11467
2318. Known as Bayanihan to Heal as One Act
a. RA 11494
b. RA 11519
c. RA 6826
d. RA 11469
2319. Known as National Cooperative Month
a. RA 9520
b. RA 11502
c. RA 6938
d. RA 11232
2320. Known as Organic Agriculture Act of 2010
a. RA 7881
b. RA 8435
c. RA 10068
d. RA 8532
2321. Known as An Act Amending RA 10068
a. EO 151
b. RA 8532
c. RA 7905
d. RA 11511
2322. Known as An Act Authorizing the President to Expedite the Processing and Issuance of National and Local Permits, Licensing and Certifications
in Times of National Emergency
a. RA 11032
b. RA 11517
c. RA 9485
d. RA 7160
2323. Known as An Act Extending the Availability of Appropriations under RA 11494
a. RA 11469
b. RA 11517
c. RA 11519
d. RA 6826
2324. Known as An Act Further Strengthening the Anti- Money Laundering Law, Amending for the Purpose of RA 9160, as amended
a. RA 9194
b. RA 11463
c. RA 11521
d. RA 11494
2325. Known as Financial Institutions Strategic Transfer (FIST) Act
a. RA 11569
b. RA 8556
c. RA 11523
d. RA 5980
2326. Known as Coconut Farmers and Industry Trust Fund Act
a. RA 11524
b. RA 10068
c. RA 8435
d. RA 8532
2327. Known as Corporate Recovery and Tax Incentives for Enterprises Act or CREATE
a. RA 10963
b. RA 4566
c. RA 11534
d. PD 1746
2328. Known as Labor Education Act
a. PD 442
b. RA 11551
c. RA 6715
d. RA 10911
2329. Known as An Act Extending and Enhancing the Implementation of the Lifeline Rate, Amending the Purpose Section 73 of RA 10150
a. RA 9136
b. RA 7832
c. RA 11552
d. RA 9513
2330. Known as An Act Extending the Estate tax Amnesty and for other purposes, Amending Section 6 of RA 11213
a. RA 11569
b. RA 10963
c. RA 4566
d. RA 11534
2331. Known as JCEC Enhancement Act
a. RA 11571
b. RA 9136
c. RA 7832
d. RA 11552 –
2332. Known as Philippine Energy Research and Policy Institute Act
a. RA 9136
b. Ra 11572
c. RA 11552
d. Ra 11571
2333. Known as An Act Improving the Confirmation Process for Imperfect Land Titles, Amending for the Purpose CA 141 and PD 1529, as amended
a. Act 496
b. EO 649
c. RA 11573
d. RA 1151 – Ph. Environmental Policy
2334. Known as Consumer Act of the Philippines
a. RA 8762
b. RA 7394
c. RA 7042
d. RA 7916
2335. Known as Water Code of the Philippines
 a. RA 9275
b. PD 1153
c. PD 1067
d. PD 198

AA. MOCK EXAM FUNDAMENTALS

2336. The length of the tract of land along a street is called

a. Depth
b. Width
c. Frontage
d. Abutment
2337. An office building was recently sold for P60,000,000. Given the following information :
Gross potential income : P12,000,000
Vacancy Factor : 10%
Expenses : 45% of effective gross income
Annual mortgage payment : P4,500,000
Equity : P12,500,000
What is the equity dividend rate or cash – on-cash rate of return?
a. 7.48%
b. 12.00%
c. 11.52%
d. 7.50%
SOLUTION:
GPI P 12,000,000
Less: Vacancy 10% (1,200,000)
EGI P 10,800,000
Less: Exp. 45% (4,860,000)
NOI P 5,940,000
Less: Debt Service (4,500,000)
BTCF(before tax cashflow) 1,440,000

DIVIDEND RATE OR COC = BTCF/EQUITY

DIVIDEND RATE OR COC = P 1,440,000/P 12,500,000
ANS. = 11.52% (c)
2338. For the office building above and the same information, what is the over-all rate of return of the property?
a. 8.58%
b. 12.00%
c. 7.50%
d. 9.90%
SOLUTION:
RO = NOI/SP
RO = 5,940,000/ 60,000,000
ANS = 9.9% (d)
2339. If the land value in a subdivision has increased by 12% during the past year and the average price of land sold last year was P1.560,000, what
is then average price of land sold today?
a. P1,372,000
b. P1,716,000
c. P1,572,000
d. P1,747,200
SOLUTION:
AVERAGE SELLING PRICE = 1,560,000 X 1.12
ANS = P 1,747,200 (d)
2340. A commercial property producing an annual gross income of P768,500 was sold two months ago for P5,620,000. What is the property’s gross
income multiplier?
a. 7.50
b. 7.40
c. 7.31
d. 8.50
SOLUTION:
GIM = SALES PRICE / GROSS INCOME
GIM = 5,620,000 / 768,500
ANS = 7.31 (c)
2341. What is the value of a property with a building value of P2,400,000, a land capitalization rate of 8.0%, building overall rate 14% and a net
operation income P545,000?
a. P4,012,000
b. P6,812,500
c. P4,921,000
d. P5,012,000
SOLUTION:
GIVEN:
Building Value P 2,400,000
Land Cap Rate 8.0%
Building Rate 14%
NOI P545,000

Income Due to Building = BV x BR

Income Due to Building = P2,400,000 x 14%
 Income Due to Building = 336,000

Income Due to Land = NOI – Income Due to Building

Income Due to Land = P545,000 – 336,000
Income Due to Land = P209,000

Land Value = Income Due to Land / Land Rate

Land Value = P209,000 / 8%
Land Value = P 2,612,500

Total Value = Building Value + Land Value

Total Value = P2,400,000 + 2,612,500
Total Value = P 5,012,500 (d)
2342. To adjust the sale price of a comparable sale with a 10% better location, you should
a. Add 10% to the sale price of the comparable
b. Multiply the sale price of comparable by 10%
c. Subtract 10% from the price of the subject of appraisal
d. Subtract 10% from the sale price of the comparable.
2343. Subject of appraisal is a 4-bedroom house. Based on the following paired data gathered, what would be the estimated value of the subject of
appraisal?
Market data:
3-bedroom house was recently sold for P 6,455,000
2-bedroom house was recently sold for P 6,250,000
a. P6,455,000
b. P6,600,000
c. P6,660,000
d. P6,665,000
SOLUTION:
Value of 2BR: P6,250,000
Value of 3BR: P6,455,000
Value of 4BR = P6,455,000 + (6,455,000 – 6,250,000)
Ans. Value of 4BR = P6,660,000 (c)
2344. A residential house was constructed in 2001 for P12,568,000. The cost index published at that time was 178.20. The current cost index from the
same cost reporting service is 360.70. What is the current indicated reproduction cost of the residential house?
a. P25,439,000
b. P25,349,000
c. P25,136,000
d. P25,316,000
SOLUTION:
GIVEN:
House Built 2001 P12,568,000
Cost Index 2001 178.20
Current Index 360.70
? Current Reproduction Cost of the Property/House
RCN NEW = 12,568,000 x (360.70/178.20)
Ans. RCN NEW = P25,439,268.24 (a)
2345. What is the indicated value of a 6-year-old building with a floor area of 360 square meters, if the current cost construction of similar building is
P15,000 per square meter of the floor area, and the estimated depreciation of the building is 2% per year?
a. P4,572,000
b. P4,752,000
c. P5,400,000
d. P5,752,000
SOLUTION:
RCN = 360 X P15,000
RCN = P 5,400,000
Less: Depreciation (2% x 6 x RCN) = P (648,000)
Ans. Value = P 4,752,000 (b)
2346. A building has a rental income of P60,600 per month. Using an annual gross rent multiplier of 15, the value of the building would be estimated
at –
a. P909,000
b. P10,800,000
c. P727,000
d. P10,908,000
SOLUTION:
Annual Rental Income (P60,600 x 12 mos.) = P727,200
Gross Rent Multiplier = 15

P727,200 x 15
Ans. P10,908,000 (d)
2347. The value of the property consisting of land and building with an annual net operating income P330,000 and with an over-all capitalization rate
of 12.50% is –
a. P2,640,000
b. P2,750,000
c. P2,400,000
d. P2,570,000
SOLUTION:
GIVEN: Property Value
 NOI = P330,000
OCR = 12.60%

Value = 330,000 / 12.50%

Ans. Value = P2,640,000 (a)
2348. Which of the following estimates would result in capitalization rate of 8% -
a. Property value of P2,500,000, potential gross income of P200,000
b. Property value of P2,500,000, effective gross income of P200,000
c. Property value of P2,500,000, net operating income of P200,000
d. Property value of P4,000,000, net operating income of P320,800
2349. The property subject of appraisal is 15% superior than the subject of comparable sale. The comparable was sold for P2,212,000, what is the
indicated value of the subject?
a. P1,880,200
b. P1,932,500
c. P2,602,400
d. P2,543,800
SOLUTION:
Ans. P2,212,000 x 1.15% = P2,543,800
2350. An office building has depreciated by 50% since it was built 25 years ago. If it would cost P39,200,000 to build today, and if similar sites are for
P25,000,000. What is the estimated market value of the property today?
a. P64,200,000
b. P48,520,000
c. 44,600,000
d. 54,600,000
SOLUTION:
RCN = 39,200,000
Less: Depreciation = (19,600,000)
Building Value = 19,600,000
Land Value = 25,000,000
Ans. Property Market Value = 44,600,000 (c)
2351. Assume the following:
Annual net operating income of the property : P 1,100,000
Land value : P 4,500,000
Interest rate : 8%
Recapture rate : 4%
What is the property value by the building residual technique?
a. P10,666,667
b. P11,666,667
c. P9,666,667
d. P12,666,667
SOLUTION:
Income Due to Land = BV x BR
Income Due to Land = 4,500,000 x 8%
Income Due to Land = 360,000

Income Due to Bulding = NOI – Income Due to Land

Income Due to Bulding = 1,100,000 – 360,000
Income Due to Bulding = P740,000

Building Value = Income Due to Building / Land Rate

Building Value = P7,400,000/.12
Building Value = P 6,166,666.67

Total Value = Building Value + Land Value

Total Value = P 4,500,000 + 6,166,666.67
Total Value = P 4,355,260 (a)
2352. Mr. B owns a parcel of land leased to Mr. C at an annual rent rate of P 1,000,000. The interest lease has a remaining life of 6 years. What is the
present value of the rentals if the interest rate is 10% per year? Present worth factor for annuity is 4.35526 and lump sum is 0.56447.
a. P 4,355,260
b. P 3,386,820
c. P 1,771,573
d. P 1,771,561
SOLUTION:
Present Value = 1,000,000 x Annuity Factor 4.35526
Ans. Present Valur = P4,355,260 (a)
2353. A building was constructed 10 years ago and is well-maintained that based on the observation of the appraiser its condition is similar to other 6-
year-old buildings. The effective age of the building is
a. 10 years
b. 4 years
c. 6 years
d. 16 years
2354. A building was constructed 10 years ago and is well-maintained that based on the observation of the appraiser its condition is similar to other 6-
year-old buildings. The actual age of the building is
a. 10 years
b. 4 years
c. 6 years
d. 16 years
2355. The reproduction cost of a commercial building is estimated to be P80,000,000. The building should have an economic life of 50 years, and it is
now five years old. However, based on the observation of the appraiser its effective age is similar to the other 10-year-old building due to poor
maintenance. What is its value of the building (exclusive of land value)?
a. P 72,000,000
b. P 64,000,000
c. P 80,000,000
d. P 75,000,000
SOLUTION:
RCN =P80,000,000
Less: Accrued Depreciation =(16,000,000) computed as follows [ 10% / 50% x RCN)
Ans. Building Value = P 64,000,000 (b)
2356. A 10-year-old building is currently valued at P 7,200,000. What was its original value if it has appreciated by 60% since it was built?
a. P 4,320,000
b. P2,880,000
c. P 4,500,000
d. P 5,142,900
SOLUTION:
Original Value = P7,200,000 / (1/60%)
Ans. Original Value = P4,311,377.25 (a)
2357. The appropriate adjustment for time is determined to be 8% per year. The time adjustment for a comparable property that was sold a year ago
for P 10,000 per square meter is
a. Less P 800 per square meter
b. Plus P 1,000 per square meter
c. Plus P 800 per square meter
d. Less P 1,000 per square meter
SOLUTION:
P10,000 X 8% = P800/sqm
Ans. Plus P800/sqm
2358. A lessee is renting a commercial space with a base rent of P 7,000 per month plus 5% of the gross sales exceeding P 100,000 per month. The
lessee’s gross sale last year was P 1,600,000. How much rent was paid last year?
a. P 184,000
b. P 104,000
c. P 84,000
d. P 114,000
SOLUTION:
Annual Rent = P7,000 x 12
Annual Rent = P84,000

Gross Sales = P1,600,000

Less: Threshold = (1,200,000) [100,000 x 12]
= P 400,000
Overage Rent =P 20,000 [400,000 x 5%]
Total Rent = 84,000 + 20,000
Ans. Total Rent = 104,000 (b)
2359. A 30 –year mortgage covering 75% of property value can be obtained from a bank for 8.5%. The mortgage constant is 0.092. equity for this
type of property requires 12% return.
a. 9.00%
b. 9.90%
c. 10.00%
d. 10.50%
SOLUTION:
RO = (.75 X .092) + (.25 X .12)
RO = 0.069 + 0.03
Ans. RO = .099 or 9.90% (b)
2360. What would be recapture rate of a building having a remaining economic life of 12 years –
a. 112%
b. 88%
c. 8.33%
d. 8.00%
2361. In a property residual capitalization approach, what is the value of an improved property with a net income of P180,000 a year, an interest rate
of 8% and a recapture rate of 2%?
a. P 1,800,000
b. P 2,250,000
c. P 3,000,000
d. P 1,500,000
SOLUTION:
NOI = P180,000/yr
IR = 8%
RR = 2%

Value = 180,000 / (8% + 2%)

Ans. Value = 1,800,000 (a)
2362. A house and lot is priced at P 7,500,000. The lot alone is valued at P 2.531,250. What is the percentage of the total asking price is attributed to
the house?
3
a. 33 %
4
 1
b. 33%
4
1
c. 66 %
4
3
d. 66 %
4
SOLUTION:
HL P7,500,000
Less: Land (2,531,250)
House Value P4,968,750

Ans. P4,968,750 / 7,500,000

1
Ans. = 66.25% or 66 % (c)
4
2363. Avacant lot is rented for a car display P 24,000 per month. The interest rate applicable to this type of property is 8%. Compute the value of the
property by income approach.
a. P 2,400,000
b. P 2,600,000
c. P 2,800,000
d. P 3,600,000
SOLUTION:
Annual Rent P24,000 x 12 = P288,000
IR = 8%

Value = I/R
Value = 288,000 / 8%
Ans. Value = P3,600,000 (d)
2364. If a particular buyer requires a recapture of the building portion of the price in 30 years, what is the indicated recapture rate of the building?
a. 3%
1
b. 3%
2
1
c. 3 %
3
1
d. 3 %
4
SOLUTION:
RR = 1/30
Ans. RR = 3.33% (C)
2365. Mr. A is leasing a 60-square-meter commercial space for P 3,000 per square meter per year. Research indicates that similar space has a going
market rate of P 3,200 per square meter per year. What is the rental gain realized by Mr. A per year?
a. P 1,200
b. P 12,000
c. P 2, 400
d. P 24,000
SOLUTION:
Market Rent P3,200
Contract Rent P3,000
Gain P3,200 – P3,000
Gain P200 x 60 sqm
Ans. Gain = P12,000 (b)
2366. A house and lot is prices at P 8,800,000. The lot is valued at P 1,650,000. What percentage of the total asking price is attributable to the value
of the lot?
a. 18.5%
b. 19.0%
3
c. 18%
4
1
d. 18 %
4
SOLUTION:
HL Value P8,800,000
Land Value 1,650,000

Value of Land Percentage P1,650,000/8,800,000

3
Ans. Value of Land Percentage = 18.75% or 18 % (c)
4
2367. Aproperty with an annual net income of P 336,000 was sold for P 4,200,000. The remaining life of the building is 40 years. Land value is P
1,200,000. What is the overall rate for the property?
a. 6.00%
b. 7.00%
c. 8.00%
d. 9.00%
SOLUTION:
SP = P4,200,000
Income = 336,000
 ORR HL = 336,000 / 4,200,000
Ans. = .08 or 8% (c)
2368. A comparable land was sold a year ago for P 30,000 per square meter. Its location is considered 15% inferior and its shape and topography is
10% superior to the subject site. The time adjustment is 3% per year. Determine the adjusted sale price of the comparable site.
a. P 29,400 per square meter
b. P 32,400 per square meter
c. P 30,600 per square meter
d. P 38,400 per square meter
SOLUTION:
Comparable Land P30,000
Location +15%
Shape -10%
Time Adjustment 3%/yr

= P30,000 + 15% - 10% + 3%

=P30,000 + 4,500 – 3,000 + 900
Ans. = 32, 400 (b)

OR
100% +15% - 10% + 3% = 1.08%
= P30,000 x 1.08%
Ans. = P32,400 (b
2369. A property with an annual net operation income of P 336,000 was sold for P 4,200,000. The remaining life of a building is 40 years. Land value
is P 1,200,000. What is the value of the building?
a. P 3,000,000
b. P 2,000,000
c. P 2,500,000
d. P 3,500,000
SOLUTION:
Given:
HL Value P4,200,000
Land Value (1,200,000)
Ans.Building Value P3,000,000 (a
2370. A property was sold for P 60,000,000. Using the rule-of-thumb of building-to-land ratio of 4:2, what is the value of the building?
a. P20,000,000
b. P30,000,000
c. P40,000,000
d. P50,000,000
SOLUTION:
= SP P60,000,000
Ratio = 4+2 = 6
= P60,000,000/6
= P10,000,000 x building ratio of 4
Ans. = P40,000,000 (c)

OR

= P60,000,000 x 4/6
Ans. = P 40,000,000
2371. A 10-year old residential apartment has a reproduction cost of P 6,250,000, broken down into P 2,500,000 representing the structural
component, and P 3,750,000 for the other component. Yearly allowance for ordinary structural deterioration is 2%, while the depreciation rate
for the curable component is 5% per year. Economic obsolescence result in a rental loss of P 60,000 per year. What is the estimated value of
the building?
a. P 5,150,000
b. P 3,875,000
c. P 3,275,000
d. P 3,775,000
SOLUTION:
RCN P6,250,000
Structural Component P2,500,000
Other Component P3,750,000
Deterioration -2%/yr
Depreciation Rate 5/yr
Economic Obsolescence rental loss P60,000/yr

Building Value = ?

RCN Structural = 2,500,000 – [2% x 10 x RCN]

RCN Structural = 2,500,000 – 500,000
RCN Structural = 2,000,000

RCN O. Component = 3,750,000 – [5% x 10 x RCN]

RCN O. Component = 3,750,000 – 1,875,000
RCN O. Component = 1,875,000

Total RCN = 2,000,000 + 1,875,000

Ans. Total RCN = 3,875,000 (b)
2372. A comparable property sold six months ago for P 1,250,000. Market investigation indicates the following:
Location adjustment : +5%
Time adjustment : +6%
Age adjustment : -7%
Given the above information, what is the indicated value based on the comparable property?
a. P 1,232,250
b. P 1,300,000
c. P 1,325,000
d. P 1,293,000
SOLUTION:
=SP P1,250,000 + (SP X (5% + 6% - 7%))
=P1,250,000 + P50,000
Ans. = P1,300,000 (b)
2373. What is the reversion value of a property with an estimated market value of P 12,540,000 2 years from now at an interest rate of 10% per year?
a. P 15,048,000
b. P 15,173,000
c. P 10,363,635
d. P 10, 157,400
SOLUTION:
Reversion Value = FV / (1+i)^r
Reversion Value = 12,540,000 / (1+ .1) ^2
Reversion Value = 12,540,000 / 1.21
Ans.Reversion= P10,363,636.36 (c)
2374. A comparable property is identical to the subject property being appraised. The comparable was sold six months ago for P 1,000,000. As the
appraiser, you must make an adjustment for the time difference between the subject property and the comparable. You have found a paired
sale of two houses, one of which was sold one year ago for P 800,000, and the other sold yesterday for P 880,000. What is the proper
estimated adjusted sales price for your comparable?
a. P 880,000
b. P 1,000,000
c. P 1,050,000
d. P 1,100,000
SOLUTION:
P1,000,000 – sold 6 mos.
P800,000 – sold 1 yr. ago
P880,000 – sold yesterday

=P880,000 / 800,000
= 1.10% or 10% in value in 1 year
= 1.05 x P1,000,000 time adjustment
Ans. = P1,050,000 adjusted sales price (c)
2375. If a property has a net income ratio of 0.75 and a gross income multiplier of 9, what is the indicated over-all capitalization rate?
a. 6.75%
b. 8.33%
c. 2.78%
d. 12.00%
SOLUTION:
GIM = 9
NIR = .75
Net Income Ratio = Net Income / Gross Income
Gross Rent Multiplier = Sales Price / Gross Income
= .75/9
Ans. = 8.33% (b)
2376. Corporation T is to lease a parcel of land for 1 year at P 2,000,000. Research indicates that similar land have a market rent of P 2,200,000 per
year. What is the estimated value of the leasehold interest if the rental payment is to be paid as a lump sum amount today and the interest rate
is 10%?
a. P 200,000
b. P 220,000
c. P 180,000
d. P 181,818
SOLUTION:
Contract Rent/yr P2,000,000
Market Rent/yr P2,200,000
Value?
Present Value = V ? (1+i)^r
P200,000 / 1.1
Ans. P181,818 (d)
2377. A commercial structure is a rectangle with sides of 80 meters and 145 meters and the current local cost to build a similar structure is P 18,500
per square meter. What is the estimated construction cost of the structure?
a. P 214,600,000
b. P 208,800,000
c. P 218,600,000
d. P 215,600,000
SOLUTION:
= 80 X 145 X P18,500
Ans. = P214,600,000 (a)

Building value : P 50,000,000

Net Operating income : P 8,350,000
 Building capitalization rate : 14%
Land capitalization rate : 9%
2378. What is the residual income to the land?
a. P 1,350,000
b. P 4,500,000
c. P 3,850,000
d. P 70,000,000
SOLUTION:
Income Land = ?
Total Income – Income of Building
= P8,350,000 – (50,000,000 X14%)
= P8,350,000 – 7,000,000
Ans. P1,350,000
2379. What is the value of the land?
a. P 4,500,000
b. P 15,000,000
c. P 9,642,850
d. P 42,777,750
SOLUTION:
= Land Income / Land Cap Rate
= P1,350,000 / .09
Ans = P15,000,000 (b)
2380. What is the total value of the property?
a. P 54,500,000
b. P 65,000,000
c. P 59,642,850
d. P 92,777,750

SUBJECT DATA 1 DATA 2 DATA 3 DATA 4 DATA 5

PRICE ??? P 1,450,000 P P 1,350,000 P P 1,530,000
1,360,000 1,410,000
TYPE OF DATA SALE SALE SALE SALE OFFER
LOCATION GOOD GOOD GOOD POOR GOOD GOOD
TYPE OF CONCRETE CONCRETE TIMBER CONCRETE TIMBER CONCRETE
CONSTRUCTION
NO. OF 3 3 3 3 4 3
BEDROOMS

2381. What is the adjustment for type of data – sale vs. offer?
a. P 120,000
b. P 80,000
c. P 170,000
d. P 180,000
2382. What is the adjustment for location?
a. P 100,000
b. P 10,000
c. P 60,000
d. P 110,000
2383. What is the adjustment for type of construction?
a. P 180,000
b. P 120,000
c. P 60,000
d. P 90,000
2384. What is the adjustment for no. of bedrooms?
a. P 50,000
b. P 60,000
c. P 120,000
d. P 40,000
2385. What is the estimated value of the property assuming the data have equal importance?
a. P 1,451,000
b. P 1,451,000
c. P 1,452,000
d. P 1,450,00

BB. Appraiser’s/Broker’s Exam

Mock Exam Set G-1

2386. Passed the exam on 2007, unable to secure license from DTI, CPE required
a. 12hrs
b. 15 hours
c. 18hrs
d. 24 hours
e. 120 hours
2387. Minimum acceptable number of training hours by a service provider for brokers exam
a. 18hrs
b. 15 hours
c. 24hrs
d. 60hrs
 e. 120 hours
2388. Minimum acceptable number of training hours by a service provider for salesman with 3 year experience from the effectivity of the law without
DTI salesman license
a. 18hrs
b. 15 hours
c. 24hrs
d. 60hrs
e. 120 hours
2389. For practicing real estate without the required license is penalized in an amount of no less than
a. P100K
b. P150K
c. P200K
d. P50K
e. P20K
2390. However a license practitioner who violated RESA law is penalized in an amount of no less than
a. P100K
b. P150K
c. P200K
d. P50K
e. P20K
2391. For practicing the real estate without the required license maybe penalized by imprisonment of no less than
a. 6months
b. one year
c. 2 years
d. 4 years
e. 3 years
2392. License practitioner who violated RESA law may be penalized by imprisonment of no less than
a. 6months
b. one year
c. 2 years
d. 4 years
e. 3 years
2393. Refers to law on acquisition by natural born Filipino citizen on residential property
a. RA6732
b. RA6552
c. RA9653
d. RA9700
e. BP185
2394. Refers to law on acquisition by natural born Filipino citizen on commercial property
a. RA6732
b. RA8179
c. RA9653
d. Ra9700
e. e.BP185
2395. Urban development and housing act
a. RA6732
b. RA6552
c. RA9653
d. RA9700
e. RA7279
2396. Property Registration Decree
a. PD957
b. PD1529
c. PD1517
d. PD1216
e. PD471
2397. Dual citizenship law
a. RA6732
b. RA6552
c. RA9653
d. RA9700
e. RA9225
2398. Law that allows foreign investors lease private for a maximum of 50yrs renewable once for 25yrs
a. RA6732
b. RA6552
c. RA9653
d. RA9700
e. RA7652
2399. Law defining ‘’ open space ‘’ residential subdivision
a. PD957
b. RA6552
c. RA9653
d. RA9700
e. PD1216
2400. Rent control of 2009
a. RA6732
b. RA9646
c. RA9653
 d. RA9700
e. RA8974
2401. Expropriation law of 2000
a. RA6732
b. RA6552
c. RA9653
d. RA9700
e. RA8974
2402. Comprehensive agrarian reform law of 1988
a. RA6732
b. PD1517
c. RA9653
d. RA9700
e. RA6657
2403. Family code of 1988
a. PD957
b. EO90
c. RA9653
d. RA9700
e. E.O. 209
2404. National shelter program, designated HLURB as the sole regulatory body of housing and land devt .
a. PA957
b. EO90
c. RA9653
d. RA9700
e. E.O. 209
2405. Home guaranty Act/magna carta for Homeowners association
a. RA6732
b. RA6552
c. RA9653
d. RA8763
e. BP185
2406. Law where HLURB assumed the functions of NHA on real estate management
a. RA6732
b. RA8179
c. RA9653
d. RA9700
e. EO648
2407. Maceda law of 1972
a. RA6732
b. RA6552
c. RA9653
d. Ra9700
e. RA7279
2408. Subdivision and condominium buyers protective decree
a. PD957
b. PD1529
c. PD1517
d. PD1216
e. PD471
2409. Dual citizenship law
a. RA6732
b. RA6552
c. RA9653
d. RA9700
e. RA9225
2410. Law which regulate the development and sale of subdivision and condominium
a. PD957
b. PD1529
c. PD1517
d. PD27
e. PD471
2411. Tenants Emancipation decree for rice and corn lands
a. PD 957
b. PD 1529
c. PD 1517
d. PD 27
e. PD 471
2412. Law which prohibits the eviction of occupants from lands identified and proclaimed as APDs or ULRZs and exempting such land from payments
of realty tax ( July 23, 1986 )
a. PD 957
b. PD 1529
c. PD 1517
d. PD 2016
e. PD 471
2413. An act authorizing Ministry of human settlements ( now HLURB ) to establish and promulgate different levels of standards for economic and
socialized housing
a. PD 957
 b. PD 1529
c. PD 1517
d. BP 185
e. BP 220
2414. Condominium law
a. PD 957
b. RA 6552
c. RA4726
d. RA9700
e. RA9225
2415. An act following reconstitution of the title administratively destroyed by fire, flood, etc (June8, 1989)
a. PD 957
b. RA 6552
c. RA 4726
d. RA 9700
e. RA 6732
2416. Law which discontinue the Spanish mortgage law system of registration (Feb. 16, 1976)
a. PD 957
b. PD 1096
c. PD 1529
d. PD 772
e. PD 892
2417. Anti -squatting law (August 20, 1975)
a. PD 957
b. PD 1096
c. PD 1529
d. PD 772
e. RA 7279
2418. An act providing legitimization of children born parents below marrying age
a. RA 6732
b. RA 9858
c. RA 9653
d. Ra 9700
e. RA 9225
2419. An act which provides that age of majority commences at 18 years as incorporated under Art. 234 of the family code
a. RA 6732
b. Ra 9858
c. RA 9653
d. RA 6809
e. RA 9225
2420. Law which creates DENR, reorganization and renaming debt of environment, Energy and natural Resources as DENR (June 10, 1987)
a. PD 957
b. EO 90
c. RA 9653
d. EO 192
e. E.O. 209
2421. Local Government Code of 1991
a. RA8424
b. RA 7279
c. RA 9653
d. RA 9700
e. RA 7160
2422. Retorm Act of 1997
a. RA 8424
b. RA 7279
c. RA 9653
d. RA 6552
e. RA 4726
2423. Brokerage Law
a. RA 8424
b. RA 2728
c. RA 9653
d. RA 6552
e. RA 4726
2424. Under the urban Reform Law (P.d. 1517 ), an area is considered urban when it has a population density of at least _____ and when at least 50%
of economically active residents are engaged in non agricultural activities.
a. 500 residents per square kilometer
b. 1,000 residents per square kilometers
c. 1,500 residents per square kilometers
d. 2,000 residents per square kilometer
2425. RA 7279, ________ that be resorted to only when other modes of acquisition have been exhausted.
a. Negotiated purchase
b. Land consolidation
c. expropriation
d. Joint Venture Agreement
2426. Property escheated to the government is considered as
a. Public dominion
b. Patrimonial property
 c. Regalian Property
d. Land of Public property
2427. Under urban land reform Act (PD. 1517), the acquision of lots of varying ownership through, among others, propriation or negotiated purchase
for the purpose of planning is
a. Land banking
b. Land exchange
c. Land use plan
d. Land assembly
2428. Conversion permit of agricultural land of not more than 5 hectares shall be approved by the:
a. Municipal Agrarian Reform Offices
b. Provincial Agrarian Reform Offices
c. Regional Agrarian Reform Offices
d. Use. For Legal Affairs, DAR
e. Secretary, DAR
2429. The acquisition of the land in advance of actual need based on present value for future planned development is referred to in the urban land
reform law as:
a. Land assembly
b. Land banking
c. Urban renewal
d. New settlement development
2430. Urbanizable areas refers to sites and lands which, considering present characteristics and prevailing condition, display marked and great
potential of becoming urban areas within the period of
a. two (2) years
b. three (3) years
c. five (5) years
d. ten (10) years
e. None of the above
2431. The following are modes of acquiring lands for the purposes of the urban development and housing Act of 1992 except.
a. Joint Venture agreement
b. Negotiated purchase
c. Community mortgage
d. Accretion
e. Expropriation
2432. Land valuation Guidelines for socialized housing is set by the
a. HUDCC
b. NHA
c. Department of Finance
d. Regular courts
e. Provincial/City assessors
2433. This government agency is responsible for the preparation of comprehensive land use in a locality.
a. Local government unit
b. HUDCC
c. Registration of Deeds
d. HLURB
e. DAR
2434. The following are priorities of lands that may be acquired for socialized housing purpose under RA 7279, except:
a. Land owned by the government
b. privately owned land
c. registered but idle land
d. Alienable lands of public domain
e. BLISS not yet acquired
2435. Which of the following government agencies is in charge of the over all strategies for the country’s National Housing program?
a. national Housing Authority
b. housing and land use regulatory board
c. Housing and urban development coordinating council
d. None of the above
2436. Registration of sale of a five hectare agricultural land must be accompanied by
a. DAR Conversion Permit
b. HLURB License to sell
c. DAR Clearance
d. LGU Development permit
e. all of the above
2437. The following are public dominion, except
a. Navigate river converted into fishpon
b. Canal
c. Public plaza converted into housing
d. subdivision roads
e. natural resources
2438. Ownership of a place of land can be acquired through any of the following modes, except
a. Tradition
b. prescription
c. occupation
d. Accretion
e. succession
2439. Excluded from the coverage of CARP.
1. 9 %
2. 12 %
3. 15 %
 4. 18 % or more slope
2440. Refers to land located in the finges of built up communities which has the provincial characteristics but is plavored with metropolitan utilities,
facilities and amenities.
a. Urban land
b. Urbanized land
c. Urban land
d. City satellite
e. rural land
2441. Has ruled that all agricultural lands that are already classified as commercial, industrial or residential before June 15, 1988 no longer need any
conversion clearance even if it is still devoted to agriculture activity
a. Republic Act 6657
b. Republic Act 7279
c. Ministry Order No. 39 series of 1985
d. DOJ Opinion No. 44, SERIES OF 1990
e. None of the above
2442. A principle of ownership which mandates property owners to tise their property in a manner that will promote not only their interest but also the
general welfare.
a. Principle of social justice
b. Stewardship principle
c. Principle of conformity
d. Principle of progression
e. None of the above
2443. Filipino citizens can acquire by patent agricultural lands of the public domain not exceeding:
a. Five hectares
b. Seven hectares
c. ten hectares
d. twelve hectares
e. None of the above
2444. A former natural born Filipino citizen can acquire urban land for business purpose ni exceeding:
a. 1,000 sq. m.
b. 10,000 sq. m.
c. 5,000 sq. m.
d. 3 hectares
e. none of the above
2445. A former natural born Filipino citizen may in addition to acquiring residential land under B>P> 185 may still Acquire land for business or other
purpose under R>A> 8179 provided the area does not exceept
a. One hectare of urban land or 2 hectare of rural land
b. 5,000 square meters of urban land or 3 hectare of rural band
c. 5,000 square meters of urban land or 5 hectare of rural land
d. 1,000 square meters of urban land or 3 hectare of rural land
e. None of the above
2446. Spouses who are married after the effectivity of the family code without any pre-nuptial agreement all be governed by:
a. Conjugal partnership of gains
b. absolute separation of property
c. Absolute community of property
d. any of the above
e. none of the above
2447. Under RA 6732, administrative reconstitution of lost or destroyed original copies of certificates may be availed of when the lost or destroyed
certificates in the registry of deeds consist of at least:
a. 10% of all titles in the registry
b. 20% of all titles in the registry
c. 30 % of all titles in the registry
d. 40 % of all titles in the registry
e. none of the above
2448. When a license broker accept a listing from practitioner, he follows three condition clearly stated in the code of ethics. Which one of the
following is not a conditions to be followed:
a. The agency of the broker who offers the listing should be respected until it has expired and the listing comes
it his attention from a different source.
b. The agency of the listing broker should be respected perpetually in all dealings with his client/principal
c. The agency of the broker who offers the listing should be respected until the owner, without solicitation, offers to list with him
d. The listing should not be passed to a third broker without the knowledge and consent of the listing broker
2449. Which one of the following acts of a broker can be considered within the bounds of the codes of ethics?
a. Encouraging the parties to a sale to indicate a consideration lower than the actual selling price
b. Serving as a witness in court proceeding involving a property owned by his client
c. Disclosing his clients confidential personal formation to a fellow broker in order to facilities the sale of his clients property.
d. Delaying submission of a format offer that he had received from a prospective buyers in this hope of securing a higher offer.
2450. A broker has secured a written offer to purchase a commercial property at the price of 60 million together with a check for thirty percent down
payment. HE is certain that the seller will accept the offer. Before he can present the offer to the seller he receives unverified information that a
planned government in fracture project will eat up significant portion of the property. Several steps have to be taken by the broker to save the
sale and protect the interest of all parties concerned. Which of the following is inappropriate at the moment?
a. Secure detailed information from the proper government agencies as to the actual scope of the project
b. Inform the prospective buyers about the forth coming government project and the possible effects it will have on the property.
a. Present the offer to the seller for signing and acceptance to ensure the consummation of the sale
b. Inform the seller about the forthcoming government project and the possible effects it will have on the property
2451. The golden rule shall be observed in all deadlines and relations of the real estate practitioner except:
a. with clients and fellow practitioners
b. the general public
c. the organization to which they belong
 d. none of the above
2452. A real estate broker who accept a listing from a client follows several ethics guidelines in his relationship with the client. Which one of the
following is not always applicable?
a. he should pledge himself with utmost fidelity and good faith to protect and promote the interest of his client.
b. He should undertakes to prepare an accurate appraisal report on the property subject of the listing, as part of his service to his client.
c. He should endeavor to be well informed of current legislation, policies and program of the government including proposed legislation.
Which may effect the interest of this client.
d. He should endeavor to make his client and customer conclude a fairs contract advantageous to both.
2453. The real estate practitioners in his advertisements or brochures of properties for sale, should present, but not
a. a true picture of the property and its improvements
b. it’s right and interest therein, including its lies and encumbrances
c. Indicates name, firm, address and license number
d. Conceal relevant information and other related facts
2454. With regards to the relation with a client or customer, the practitioner, in accepting an appointment or authority to act for and in behalf of the
client/ customer, can perform such, except:
a. Acquire an interest or buy for himself or members of his family within the 4 th civil degree.
b. Endeavor to make buyer or seller conclude a fair contract, advantageous to both parties.
c. Assist his client acquire possession and ownership of the property bought in accordance with the terms and conditions agreed upon.
d. Should not accept any commission or fee from any party in any transaction except from his client unless with the full knowledge and
consent of all the parties concern in the transaction
2455. In the case of a property that is sold to two or more buyers who are all presumed to have acted in good faith, who is the buyer who has a better
right to the property.
a. The buyer staying in the property
b. The buyer who is registered as owner in the barangay records
c. The buyer who first registered or recorded the sale with the register of deeds
d. The very first buyer as proven from a comparison of the dates indicated on the different deeds of absolute sale
2456. A broker has just received from a fellow brokers client/ buyers, a written offers to purchase a property of his client/seller, together with a check
for earnest money payments. Which of the following steps is the must proper and ethical for him to take?
a. call another fellow broker whose client is also interested in the property in the hope that they can top the offer
b. Call the seller immediately to inform him about the offer and submit at the soonest possible time, both the written offer and the earnest money
payment.
c. Show the offer to another prospective buyer in the hope of getting a better price for the seller
d. Reject the first offer outright based on his opinion that the offered price is too low and tell his fellow broker who submitted the offer to
convince the buyer to make a higher offer.
2457. The real estate practitioner, in relation to the government, is expected to perform as such except:
a. Secure all the necessary licenses, permits and authority
b. Pay any and all taxes, fees, dues, levies or charges
c. Encourage, abet, tolerate, or participates in the aversion or illegal reduction in the payment of all taxes, fees. Dues, levies or charges
d. Should not offer or agree to pay, split or rebate any commission or fee.
2458. Your friend Atong wants you to sell a property litled to their family corporation. After inspecting the property, you request for an exclusive
authority. Who should be the signatory in the authority and all the subsequent documents in case the property is sold?
a. atong father who is the patriarch of the family
b. your friend atong who is the treasurer of the comparison
c. Whoever is authorized in a formal based resolution
d. The company president
2459. Which of the following statements is not a valid criterion for ethical behavior?
a. Ethics is the name we give to our concern for good behavior. We feel an obligation to consider no only our own personal well -being but
also a. that of others and of human society as a whole
b. Ethics is right for right’s sake
c. A code of ethics is subservient to laws and regulations. Therefore, any act that is not against any law is not a violation of ethical practice.
d. Ethics is having a high moral sense.
The capacity to perceive what is right measure primarily by the application of the golden rule.
2460. Rate of basic realty tax in the province should not exceed ______ of assessed value.
a. 1 %
b. 2 %
c. 3%
d. 4 %
e. 5 %
2461. Rate of basic realty tax in metro manila should not exceed ______ of assessed value.
a. 1 %
b. 2 %
c. 3%
d. 4 %
e. 5 %
2462. Rate of SEF tax in the province should not exceed ______ of assessed value.
a. 1 %
b. 2 %
c. 3%
d. 4 %
e. 5 %
2463. Rate of idle land tax in metro manila should not exceed ______ of assessed value.
a. 1 %
b. 2 %
c. 3%
d. 4 %
e. 5 %
2464. Rate of transfer tax in the province should not exceed ______ of tax base
a. 1 %
 b. 2 %
c. 3%
d. 4 %
e. 5 %
2465. Rate of transfer tax in metro manila should not exceed ______ of tax base
a. 1 %
b. 2 %
c. 3%
d. 4 %
e. 5 %
2466. Rate of interest rate per month for non payment of realty tax
a. 1 %
b. 2 %
c. 3%
d. 4 %
e. 5 %
2467. Total interest rate for unpaid realty tax of 5 years
a. 1 %
b. 2 %
c. 3%
d. 4 %
e. 72%
2468. Tax protest should be filed within upon payment of tax.
a. 30 days
b. 60 days
c. 1 year
d. 2 years
e. 90 days
2469. Tax protest should be decided in
a. 30 days
b. 60 days
c. 1 year
d. 2 years
e. 90 days
2470. Tax refund may be made in
a. 30 days
b. 60 days
c. 1 year
d. 2 years
e. 90 days
2471. Right of redemption on delinquent property is ____ counting from registration of cert of sale
a. 30 days
b. 60 days
c. 1 year
d. 2 years
e. 90 days
2472. Maximum prompt payment discount on realty tax if one year tax is paid in advance
a. 25 %
b. 20%
c. 15%
d. 10%
e. 5%
2473. Maximum assessment if property is undeclared for 15 years
a. 2years
b. 3years
c. 10 years
d. 1year
e. 5 years
2474. Rate of interest per month to be given to winning bidder when the owner redeems the property
a. 1 %
b. 4 %
c. 3%
d. 2 %
e. 5 %

CC. Appraiser’s/Broker’s Exam: Reviewer (Financing)

Mock Exam Set G-3

2475. Personal property

that is often included with real estate is called:
a. Fee estate
b. Chattel
c. Serfs
d. Pawn
2476. A fiduciary is
a. A person who is a lawyer
b. A person who lends money
c. A person who a relationship of financial trust
d. A person who invest in real estate
2477. The highest form of property ownership
a. Life estate
b. Fee simple estate
c. Fiduciary estate
d. Mortgaged estate
2478. The first central bank in the world was:
a. Bank of united states
b. The federal Reserve System
c. The national Bank System
d. The Bank of England
2479. A central bank
a. Has the power of issue
b. Regulates the economy of the nation
c. Is a depository for a nation’s treasury
d. All of the above
2480. Usury is defined as:
a. A legal tender
b. An excessive interest rate
c. A mortgage lien
d. None of the above
2481. Predatory loan practice include:
a. Usury
b. Deception
c. Fraud
d. All of the above
2482. When the demand for housing increases:
a. It is buyer’s market
b. Prices decrease
c. Price increase
d. Prices remain in balance
2483. Value is created and maintained by:
a. Buyers
b. Political regulation
c. The secondary market
d. Balance
2484. The study and description of the population of an area is called:
a. Disintermediation
b. Demographics
c. Demand analysis
d. Population analysis
2485. Pass-through securities pay interest
a. Annually
b. Quarterly
c. Semi-annually
d. Monthly
2486. Disintermediation is:
a. A loss of savings deposits to higher paying investments
b. A gain of savings deposits by local lenders
c. Mortgage securities sales top investors by the secondary market
d. The sale of mortgages of the secondary market by primary lenders
2487. The primary market
a. Is local
b. Makes mortgage loans
c. Accepts savings deposit
d. All of the above
2488. Which of the following is a false statement regarding political regulation of the housing market
a. Regulations serve to protect consumers from deceptive practices.
b. Regulations help keep housing prices low
c. Regulations may increase housing price
d. Regulations protect health and safety
2489. The collection of principal and interest payments by one lender on behalf of another is called:
a. Loan seasoning
b. Loan participation
c. Loan portfolio
d. LOAN SERVICING
2490. A mortgage broker
a. ACTS AS A LOAN COORDINATOR
b. Loans his/her own money
c. Service loans
d. All of the above
2491. The practice of holding a loan for a specified period before it may sold into the secondary market :
a. LOAN SEASONING
b. Loan participation
c. Loan portfolio
d. Loan servicing
2492. Requiring a percentage of developer’s profit, as well as principle and interest, is known:
a. Loan seasoning
b. LOAN PARTICIPATION
 c. Loan portfolio
d. Loan servicing
2493. Money market funds are:
a. privately insured
b. Insured by PDIC
c. NOT INSURED
d. None of the above
2494. Loans that are sold to secondary mortgage market are called:
a. Seasoned loans
b. Participation loans
c. PORTFOLIO LOANS
d. Serviced loans
2495. An investment is said to be liquid when :
a. It is guaranteed by the government
b. IT CAN BE READILY SOLD
c. It is worthless
d. It is difficult to sell
2496. Mortgage-related securities are:
a. Easily bought and sold
b. Have real estate mortgages their collateral
c. Issued by participants in the secondary market
d. ALL OF THE ABOVE
2497. When a borrower prematurely stops making loan payments, the loan is said to be:
a. Paid of
b. In suspense
c. In arrears
d. IN DEFAULT
2498. The process of tracking mortgages in pool and comparing their rates to current market rates is called:
a. An investment lating
b. Market analysis
c. Pool analysis
d. MARKING TO MARKET
2499. A tranch is/an
a. Rating
b. PORTION OF MULTI-CLASS SECURITY
c. Investment pool
d. None of the above
2500. Redline is
a. REFUSAL TO LOAN IN CERTAIN NEIGHBORHOODS
b. Marking boundaries of certain neighborhoods
c. Not lending to bad credit consumers
d. Not lending on insufficient collateral
2501. A good faith estimate is
a. Provided at the end of the loan process
b. PROVIDED AT THE BEGINNING OF THE LOAN PROCESS
c. An estimate of the annual percentage rate only
d. An estimate of the time it will take to compete the loan
2502. It is illegal to discriminate by intent
a. By intent
b. By practice
c. By effect
d. All of the above
2503. In a promissory note the barrower is called:
a. Payee
b. Trustee
c. MAKER
d. Beneficiary
2504. A deed of conveyance is provided by the
a. Trustee
b. Beneficiary
c. TRUSTOR
d. Payee
2505. A deficiency judgment
a. Is part of the deed of reconveyance
b. Is exercised by the vendee
c. MAY ONLY BE GRANTED BY A COURT OF LAW
2506. Right of the barrower to redeem property after extra-judicial foreclosure is called :
a. RIGHT OF REDEMPTION
b. Equity of redemption
c. Dacion en pago
d. None of the above
2507. Redemption in judicial foreclosure:
a. Right of redemption
b. EQUITY OF REDEMPTION
c. Dacion en p[ago
d. None of the above
2508. A mortgage that is junior to another is called :
a. Priority lien
 b. Non-priority lien
c. Statutory lien
d. SUBORDINATE
2509. A foreclosure that does not have to be taken to court is called:
a. Extra-judicial
b. Judicial
c. Dacion en pago
d. Reconveyance deed
2510. A declaration of default is prepared by:
a. Judge
b. LENDER
c. Trustee
d. Borrower
2511. A notice of sale
a. Requires a 30-day notice
b. Is sent by the sheriff
c. Must be approved by a judge
d. IS PUBLISHED IN A NEWSPAPER
2512. An escrow agent
a. Fills out the loan application
b. Acts on the instruction of the parties to the loan
c. Determines the value of the property
d. Depository of titles
2513. An appraiser
a. Provides an opinion of the value of the loan
b. Provides an opinion of the value of the borrower’s financial capability
c. Provides an opinion of the value of the property
d. None of the above
2514. A loan origination fee:
a. Is the commission paid to loan brokers
b. Paid to the lender for the privilege of processing the loan
c. A FEE TO COVER ADMINISTRATIVE COSTS
d. Payable to the developer
2515. In a loan with negative amortization, the balance owed :
a. Decrease over time
b. INCREASE OVER TIME
c. Remains the same
d. Will never get paid
2516. The greater risk of default is caused generally by:
a. Large down payments
b. SMALL OR NO DOWN PAYMENT
c. Overpriced housing
d. High interest rates
2517. A loan balance that grows rather than decreases due to unpaid interest being added back into the loan is said to have:
a. A split term
b. NEGATIVE AMORTIZATION
c. A margin
d. Positive amortization
2518. Alternative financing plans are popular:
a. DURING TIMES OF LOW INTEREST RATES
b. During times of high interest rates
c. With older borrowers
d. With younger borrowers
2519. The process of qualifying both a borrower’s ability to pay a property’s worth is called:
a. Networth assessment
b. STABILIZATION OF INCOME
c. Loan underwriting
d. Credit investigation
2520. Determining economic obsolescence is part of the:
a. Market approach
b. Income approach
c. COST APPROACH
d. All of the above
2521. If a structural item can be readily repaired or replaced , it is said to be:
a. CURABLE
b. Functionally obsolescent
c. Incurable
d. Physically obsolescent
2522. Appraisers are required to use:
a. Listings
b. Closed sales
c. PENDING SALES
d. All of the above
2523. Which of the following is a major appraisal consideration ?
a. Owner-occupied
b. Contour of the land
c. CONFORMS TO NEIGHBORHOOD
d. Design and appeal
2524. A stated interest rate 6% is an example of:
a. Simple interest
b. An effective rate
c. Compound interest
d. A NOMINAL RATE
2525. If a borrower is actually paying more than the stated rate due to a quarterly conversion , the rate is an example of:
a. Simple interest
b. A nominal rate
c. AN EFFECTIVE RATE
d. Proration
2526. Interest paid on accrued interest as well as principal is known as:
a. Compound
b. PRORATED
c. Simple
d. All of the above
2527. Dividing pre-paid property expenses fairly between buyer and seller is known as:
a. Discounting
b. Terms of sale
c. PRORATION
d. Compounding

DD. CODES OF ETHICS

2528. When a license broker accepts a listing from a fellow practitioner, he follows three conditions clearly stated in the code of ethics. Which one of
the following is not a condition to be followed?
a. The agency of the broker who offers the listing should be represented until it has expired and the listing comes to his attention from a
different source.
b. The agency of the listing broker should be respected perpetually in all dealings with his client principal.
c. The agency of the broker who offer the listing should be respected until the owner, without solicitations, offers to list with him
d. The listing should not be passed to a third broker without the knowledge and consent of the listing broker.
2529. Which one of the following acts of a broker can be considered within the bounds of the codes of ethics?
a. Encouraging the parties to a sale to indicate a consideration lower than the actual selling price
b. Serving as a witness in court proceedings involving a property owned by his client
c. Disclosing his client confidential personal formation to a few broker in order to facilitate the sale of his client’s property
d. Delaying submission of a formal offer that the he had received from a prospective buyer in the hope of securing a higher offer.
2530. A broker has secured a written offer to purchase a commercial property a price of 60 million together with a check for thirty percent down
payment. he is certain that the seller will accept the offer. Before he can present the offer to the seller he receives unverified information that a
planned government infrastructure project will to the seller eat up a significant portion of the property. Several steps have to be taken by the
broker to save the sale and protect the interest of all parties concerned. Which of the following is inappropriate at the moment?
a. Secure detailed information from the proper government agencies as to the actual scope of the project
b. Information the prospective buyer about the forthcoming government project and the possible effects it will have on the property
c. Present the offer to the seller for signing and acceptance to ensure the consummation of the sale
d. Inform the seller about the forthcoming government n[project and the possible effects it will have on the property
2531. The Golden Rule shall be observed in all dealing and relations of the real practitioners, except:
a. With clients and fellow practitioners
b. The organization to which they belong
c. The general public
d. None of the above
2532. A real estate broker who accepts a listing from a client follows several ethical guidelines in his relationship with the client. Which one of the
following is not always applicable?
a. He should pledge himself with utmost fidelity and good faith to protect and promote the interest of his client.
b. He should undertake to prepare an accurate appraisal report on the property subject of the listing, as part of his service this client
c. He should endeavor to be well informed of current legislation, policies and programs of the government including proposed legislation,
which may effect the interest of his client
d. He should endeavor to make his client and customer conclude a fair contract advantageous to both.
2533. The real estate practitioners in his advertisements or brochures of properties for sale, should present, but not :
a. A true picture of the property and its improvements
b. It’s right and interest therein, including its liens and encumbrances.
c. Indicate name, firm address and license number.
d. Conceal relevant information and other related facts
2534. With regards to the relation with a client or customer, the practitioner, in accepting an appointment or authority to act for and in behalf of the
client/customer, can perform such, except:
a. Acquire an interest or buy for himself or members of his family within the 4 th civil degree
b. Endeavor to make buyer or seller conclude a fair contract, advantageous to both parties
c. Assist his client acquire possession and ownership of the property bought in accordance with the terms and conditions agreed upon
d. Should not accept any commission of fee from any party in any transaction except from his client unless with the full knowledge and
consent of all the parties concern in the transaction
2535. In the case of a property that is sold to two or more buyers who are all presumed to have acted in good faith, who is they buyer who has a
better right to the property?
a. The buyer staying in the property
b. The buyer who is registered as owner in the Barangay record
c. The buyer who first registered or recorded the sale with registered of deeds
d. The very first as proven from a comparison of the dates indicated on the different Deeds of Absolute Sale
2536. A broker has just received from a fellow broker’s client/buyer, a written offer to purchase a property of his client seller,, together with a check for
earnest money payment. Which of the following steps is the most proper and ethical for him to take?
a. Call another fellow broker whose client is also interested in the property in the hope that they can top the offer
b. Call the seller immediately to inform him about the offer and submit at the soonest possible time, both the written offer and the earnest
money payment.
c. Show the offer to another prospective buyer in the hope of getting a better price for the seller
 d. Reject the first offer outright based on his opinion that the offered price is too low and tell his fellow broker who submitted the offer to
convince the buyer to make a higher offer.
2537. The real estate practitioner, in relationship to the government, is expected to perform as such except:
a. Secure all the necessary licenses, permits and authority.
b. Pay any and all taxes, fees, dues, levels or charges
c. Encourage, abet, tolerate, or participation in the aversion or illegal reduction in the payment of all taxes, fees, dues, levies or charges.
d. Should not offer or agree to pay, split or rebate any commission of fee.
2538. Your Friend Atong wants you to sell a property titled to their family corporation. After inspecting the property, you request for an exclusive
authority. Who should be the signatory in the authority and all the subsequent documents in case the property is sold?
a. Atong’s father who is the patriarch of the family
b. Your friend Atong who is the treasurer of the corporation
c. Whoever is authorized in a formal board resolution
d. The company president
2539. Which of the following statements is not a valid criterion for ethical behavior?
a. Ethics is the name we give to our concern for good behavior. We feel an obligation to consider not only our own personal well-being but
also that of other and of human society as a whole.
b. Ethics is right for right’s sake
c. A Code of Ethics is subservient to laws and regulations. Therefore, any act that is not against any law is not a violation of ethical practice.
d. Ethics is having a high moral sense. The capacity to perceive what is right measured primarily by the application of the golden rule

EE. LOCAL TAXATION

2540. Rate of basic realty tax in the province should not exceed___ of assessed value.
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%
2541. Rate of basic realty tax in Metro Manila should not exceed___ assessed value
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%
2542. Rate of SEF tax in the province should not exceed___ of assessed value
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%
2543. Rate of ide land tax in Metro Manila should not exceed
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%
2544. Rate of transfer tax in the METRO MANILA should not exceed 75/50% of tax base
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%
2545. Rate of tax in Metro Manila should not exceed___% of tax base.
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%
2546. Rate of interest per month for non payment of realty tax
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%
2547. Total interest rate for unpaid realty tax of 5 years
a. 1%
b. 2%
c. 3%
d. 4%
e. 72%
2548. Tax protest should be filed within upon payment of Tax
a. 30 days
b. 60days
c. 1 year
d. 2 years
e. 90 days
2549. Tax protest should be decided in after filing
a. 30 days
 b. 60 days
c. 1 year
d. 2 year
e. 90 days
2550. Tax refund may be made in
a. 30 days
b. 60 days
c. 1 year
d. 2 years
e. 90 days
2551. Right of redemption on delinquent property is ___ counting from registration of cert. of sale
a. 30 days
b. 60 days
c. 1 year
d. 2 years
e. 90 days
2552. Maximum prompt payment discount on realty tax if one year tax is paid in advance
a. 25%
b. 20%
c. 15%
d. 10%
e. 5%
2553. Maximum assessment if property is undeclared for 15 years
a. 2years
b. 1year
c. 3years
d. 5year
e. 10years
2554. Rate of interest per month to be given to winning bidder when the owner redeems the property
a. 1%
b. 2%
c. 3%
d. 4%
e. 5%

FF. BASIC PRINCIPLES OF ECOLOGY

2555. The following are types of environmentally critical infrastructure projects except
a. MAJOR ROADS AND BRIDGES
b. MAJOR POWER PLANTS
c. MAJOR DAMS
d. MAJOR WOOD PROCESSING PROJECTS
2556. These are the three types of environmentally critical projects.
a. HEAVY INDUSTRIES, RESOURCE EXTRACTIVE INDUSTRIES, INFRASTRUCTURE PROJECTS
b. Heavy Equipment, Heavy Industries, Resource Extractive Industries
c. Industrial Projects, Infrastructure Projects, Agricultural Projects
d. Reserve Parks, National Parks, Theme Parks
2557. EIA (environmental impact assessment) a process which consist of identifying and predicting impact of proposed projects and programs on the
biophysical environment and on man’s health and well being and interpreting and communicating information about such impacts in a manner
which can be utilized by.
a. Planners and architects
b. PLANNERS AND DECISION MAKERS
c. Architects and engineers
d. Engineers and decision makers
2558. The importance of EIA as a tool that measures allocation and utilization in terms of cost associated with
a. environmental preservation
b. environmental degradation
c. ENVIRONMENTAL CONSERVATION
d. environmental awareness
2559. The following are environmentally critical projects except
a. SMELTING PLANTS
b. EXTRACTION OF MANGROVE PRODUCTS
c. GRAZING
d. TREE PLANTING
2560. It is an Act enacted in order to curb illegal logging and other forms of forest destruction .
a. Cut Saw Act of 2002
b. Blade Saw Act of 2002
c. Log Saw Act of 2002
d. CHAIN SAW ACT OF 2002
2561. Indigenous people are important to our keeping the natural environment. An Act was granted to them in 1997 specifically to address their
powerlessness. In all grants and privileges given to them, responsibilities were also enumerated which follows except
a. BUILD HOUSES
b. MAINTAIN ECOLOGICAL BALANCE
c. RESTORE DENUDED FOREST
d. OBSERVE LAWS
2562. A subdivision development is a local community that is also referred as
a. Municipality
b. Neighborhood
 c. PLANNED COMMUNITY
d. None of the above
2563. It is a geographically local community, often within a larger city or suburb
a. Municipality
b. NEIGHBORHOOD
c. Planned community
d. None of the above
2564. In ecology it is an assemblage of populations of different species interacting with one another
a. ecosystem
b. COMMUNITY
c. building
d. inhabitant
2565. The term ecology originates from a Greek word, which means “house”. In real estate ecology there are three relevant ecological aspects of
green property, which are
a. population, community, ecosystem
b. INHABITANT, BUILDING, COMMUNITY
c. inhabitant, building, ecosystem
d. population, community, organism
2566. The Indigenous Peoples Right Act was enacted on Oct. 29, 1997 to address marginalization and powerlessness of the Indigenous Cultural
Communities, which is also R.A.
a. RA 8371
b. RA 8372
c. RA 8731
d. RA 8732
2567. THE INDIGENOUS PEOPLE are among the poorest sector of Philippine Society and also among the most powerless. Of every six Filipino is a
member of indigenous cultural community which are member of estimated
a. 110 tribes
b. 10 tribes
c. 100 tribes
d. 1000 tribes
2568. For the purpose of good design concept in any project development, the ecological thinking must be adopted through promotion and education
of people involved in the real estate industry. Thus, environmental considerations are taking part in every aspect of design in building concept.
This concept in structure is called
a. Sustainable Development
b. Sustainable Building
c. Green Development
d. GREEN BUILDING
2569. Green building programs are emerging to encourage builders and developers to incorporate sustainable building practices, system, and
materials into their building projects. In the Philippines, there are already few building on going construction that complied to these standards
and had certification from this US Council known as certified
a. LEED
b. LEAD
c. LLDD
d. LEDD
2570. In which area of our region, the number of indigenous people is dominated? Their numbers representation signify that there we can find most
untouched natural environment.
a. Luzon
b. Visayas
c. MINDANAO
d. NCR
2571. Ecology covers the study of
a. POPULATION, COMMUNITY AND ECOSYSTEM
b. ecosystem, organism, inhabitants
c. ecosystem, population, inhabitants
d. inhabitants, population, community
2572. The three structural NON LIVING COMPONENTS of an ecosystem are
a. INORGANIC SUBSTANCES, ORGANIC COMPOUNDS, CLIMATE REGIMES
b. producers, consumers, decomposers
c. producers, decomposers, climate regimes
d. inorganic substances, organic compounds, decomposers
2573. Ecological succession is a fundamental concept in ecology , which refers to orderly changes in the composition of structure in
a. planned community
b. ECOLOGICAL COMMUNITY
c. orderly community
d. sustainable community
2574. Functional components of an ecosystem are
a. FOOD CHAIN, ENERGY FLOW, DIVERSITY
b. energy flow, diversity, community
c. energy flow, community, food chain
d. food chain, energy flow, community
2575. A part of science that involve the inter-disciplinary study of the inter-active processes which takes place between the organisms and the
environment and/or the inter-connections or mutual relations between living things including humans and their environment is called:
a. ECOLOGY
b. ecologist
c. economy
d. economist
2576. Indigenous people like the Aeta of Zambales and Tarlac, Dumagat and Remontado of Aurora are found in:
a. CAR
 b. Region I
c. Region 2
d. REGION 3
2577. The Aetas of Negros Occidental, Iloilo, Antique and Capiz; the Magahats of Negros Occidental and the Corolanos are inhabitants of :
a. Region 5
b. REGION 6
c. Region 7
d. Region 8
2578. You can found the Badjaos and Subanons in Zamboanga del Sur and Sibugay of:
a. Region 7
b. Region 8
c. REGION 9
d. Region 10
2579. There is no conclusive estimate on the total population of indigenous people in the country because of the following, except:
a. INDIGENOUS PEOPLE ARE APLENTY AND SCATTERED ALL OVER THE COUNTRY
b. Absence of explicit report from the NSO.
c. Delineation of ancestral domain has not been adopted as census tract.
d. Absences of regular tracking of time series data on each ethnic group.
2580. The natural process of change in response to the physical changes of an aging planet is called:
a. EVOLUTION
b. Ecological Succession
c. Control or Cybernetics
d. Biogeochemical Cycles
2581. The orderly process of community development that involves changes in species structure and community processes with time is known as:
a. Evolution
b. ECOLOGICAL SUCCESSION
c. Control or Cybernetics
d. Biogeochemical Cycles
2582. The capability of an ecosystem for self-maintenance and regulation is referred to as:
a. Evolution
b. Ecological Succession
c. CONTROL OR CYBERNETICS
d. Biogeochemical Cycles
2583. The natural cycles or organic-inorganic cycles facilitating the self regulating processes of an ecosystem are :
a. Evolutions
b. Ecological Successions
c. Control or Cybernetics
d. BIOGEOCHEMICAL CYCLES
2584. The net increase in number or biomass per unit area and time is referred to as :
a. PRODUCTIVITY
b. Stability
c. Sustainability
d. Equitability
2585. The constant productivity despite small variability in climate and other environmental factors is known as:
a. Productivity
b. STABILITY
c. Sustainability
d. Equitability
2586. The constant productivity despite major disturbances such as typhoon, drought, floods, etc ., is:
a. Productivity
b. Stability
c. SUSTAINABILITY
d. Equitability
2587. Refers to the even or just distribution of ecosystem products and services among human beneficiaries:
a. Productivity
b. Stability
c. Sustainability
d. EQUITABILITY
2588. The living components of an ecosystem are the following, except:
a. PRODUCERS
b. CONSUMERS
c. DECOMPOSERS
d. CONSTRUCTORS
2589. The non-living components of an ecosystem are the following, except:
a. ORGANIC-INORGANIC CYCLES
b. INORGANIC SUBSTANCE
c. ORGANIC COMPOUNDS
d. CLIMATE REGIMES
2590. Refers to those develop areas with community facilities , utilities, services and amenities concentrated in a contiguous population or
neighborhood.
a. URBAN SUBDIVISION
b. Rural Subdivision
c. Sub-urban Subdivisions
d. Urbanized Land
2591. Those subdivisions of provincial lands where the major portion are utilized in agricultural purpose and only small portions are devoted for
residential uses is called:
a. Urban Subdivision
b. RURAL SUBDIVISION
 c. Sub-urban Subdivisions
d. Urbanized Land
2592. Develop communities within the perimeter of existing cities or municipalities of developed urban environs is known as:
a. Urban Subdivision
b. Rural Subdivision
c. SUB-URBAN SUBDIVISIONS
d. Urbanized Land
2593. The land located in the fringes of built up communities which has the provincial characteristics but is favoured with metropolis utilities, facilities
and amenities is referred to as:
a. Urban Subdivision
b. Rural Subdivision
c. Sub-urban Subdivisions
d. URBANIZED LAND
2594. The three (3) elements of Green Development are listed below. Which one is not included ?
a. CULTURAL RESOURCES ENHANCEMENT
b. ENVIRONMENTAL RESPONSIVENESS
c. RESOURCE EFFICIENCY
d. COMMUNITY AND CULTURAL SENSITIVITY
2595. There are three (3) patterns of adaptation by our indigenous people . Which one is not?
a. NEGRITOS INHABITED FORESTED CORES
b. MALAY’S SEDENTARY RICE FARMING ALONG COAST
c. TINGUE’S AT MOUNTAIN PLATEAUS AND HEADWATERS
d. IGOROTS IN THE MOUNTAINOUS RICE TERRACES.
2596. The documents or studies on the environmental impacts of a project including discussions on direct and indirect consequences is known as:
a. Environmental Impact Statement
b. Environmental Management plan
c. Environmentally Critical Area
d. Environmentally Critical Project
2597. A section of the EIS that details the prevention, mitigation, compensation, contingency and monitoring measures to enhance positive impacts
and minimize negative impacts of a proposed project is called:
a. Environmental Impact Statement
b. ENVIRONMENTAL MANAGEMENT PLAN
c. Environmentally Critical Area
d. Environmentally Critical Project
2598. A project that has a high potential for significant negative environment impact is referred to as :
a. Environmental Impact Statement
b. Environmental Management plan
c. Environmentally Critical Area
d. ENVIRONMENTALLY CRITICAL PROJECT
2599. An area that is environmentally sensitive:
a. Environmental Impact Statement
b. Environmental Management plan
c. ENVIRONMENTALLY CRITICAL AREA
d. Environmentally Critical Project
2600. When is an ECC required for a project?
a. WHEN THE PROJECT IS LOCATED IN AN ENVIRONMENTALLY CRITICAL AREA
b. WHEN THE PROJECT IS AN ENVIRONMENTALLY CRITICAL PROJECT
c. BOTH A & B
d. none of the above
2601. The document issued by the DENR Secretary that a project will not cause significant negative impact is called:
a. ENVIRONMENTAL COMPLIANCE CERTIFICATE
b. Environmental Critical Statement
c. Environmental Impact System
d. Environmental Statement of Facts
2602. The social and cultural patterns that result from relationship between people and resources is known as :
a. Social Studies
b. SOCIAL THEORY
c. Social System
d. Social Concept
2603. Refers to Environmentally Responsive Development :
a. Green Technology
b. Green Revolution
c. GREEN DEVELOPMENT
d. Green Resource Efficiency
2604. The inhabitants like the Maranaos in Lanao del Sur; Tausug in Sulu; Yakan; Samal and Iranons in Tawi-tawi; and Kalibugan of Basilan are most
commonly found in:
a. Region XI
b. Region XII
c. Region XIII
d. ARMM

GG. REAL ESTATE BROKERAGE AND PRACTICE

2605. The Real Estate Service Act of the Philippines is mandated under:
a. R.A. 9646
b. R.A. 9656
c. R.A. 9664
d. R.A. 9636
2606. The Professional Board of Real Estate Service (PRB-RES) was created and composed of a chairperson and four (4) members. The present
Chairman of PRB-RES is:
a. HON OFELIA BINAG
b. Mr. Bansan C. Choa
c. Mr. Rafael M. Fajardo
d. Mr. Florencio C. Dino II
e. Mr. Ramon C.F. Cuervo III
2607. Any person either natural or juridical, who acts as an agent of another person for a fee or commission or other valuable consideration . He/She
performs any of the following acts: A. promotes B. lists C. advertises D. mediates E. offers F. negotiates G. effects the meeting of the minds for
the sale, purchase, exchange, mortgage, lease or joint venture or other transactions in real estate and any interest therein.
a. Real Estate Broker
b. Real Estate Salesman
c. Real Estate Appraiser
d. Real Estate Assessor
2608. Refers to any person directly engaged as a principal in the business of buying, selling or exchanging real estate property whether on a full time
or part time basis. A Real Estate Dealer is either natural or juridical person who performs any acts comprised in real estate brokerage with
reference to his own property. Is the owner/developer of a land. Subdivision, condominium, resort, country club, memorial parks, owner/lessor
of an apartment, commercial building or other income generating properties, sells, mortgages, and exchanges real properties.
a. Real Estate Assessor
b. Real Estate Dealer
c. Real Estate Consultant
d. Real Estate Appraiser
2609. A duly registered and licensed natural person who for a professional fee, compensation or other valuable consideration performs or renders
services in estimating and arriving at an opinion of or acts as an expert in real estate values, such services of which shall be finally rendered by
the preparation of the report in acceptable written form is known as:
a. Real Estate Broker
b. Real Estate Consultant
c. Real Estate Appraiser
d. Real Estate Assessor
2610. The acts whereby a natural or juridical person in behalf of another person and for a fee, compensation or commission or other valuable
consideration performs any or all of the following acts: a. Lists; b. offers; c. advertises; d. solicits; e. promotes; f. mediates; negotiates; h. effects
the meeting of the minds for the sale, purchase, exchange, mortgage, lease or joint venture or other transactions in real estate and any interest
therein. The procurement of a loan or other financing to be secured by real estate property. These acts are referred to as:
a. Real Estate Brokerage
b. Real Estate Appraisal
c. Real Estate Consultancy
d. Real Estate Assessment
2611. The act of the Broker which is instrumental in effecting the meeting of the minds between the seller and the buyer of the real property as to price
and terms and one of the requisites for a broker to be entitled to a commission is referred to as:
a. Escalation Clause
b. Grandfather’s Clause
c. Judicial Cause
d. Procuring Cause
2612. A natural person licensed under a Real Estate Broker who performs functions for and in behalf of the Real estate Broker with an expectation of
fee.
a. Real Estate Appraiser
b. Real Estate Consultant
c. Real Estate Salesman
d. Real Estate Assessor
2613. A duly registered and licensed natural person who for a professional fee, compensation or other valuable consideration, offers or renders and
judgment on: the acquisition or enhancement, preservation, utilization or disposition or lands or improvements thereon; and the conception,
planning, management and development or real estate properties.
a. Real Estate Appraiser
b. Real Estate Assessor
c. Real Estate Salesman
d. Real Estate Consultant
2614. A duly registered licensed natural person who works in the government unit and performs appraisal and assessment of real properties, including
plants, equipments and machineries essentially for taxation purposes.
a. Real Estate Assessor
b. Real Estate Appraiser
c. Real Estate Salesman
d. Real Estate Consultant
2615. It is s the national integrated organization of natural persons duly registered and licensed as Real Estate Service Practitioners.
a. Accredited Professional Organization (APO)
b. Accredited & Integrated Professional Organization (AIPO )
c. Accredited Service Organization (ASO)
d. none of the above
2616. Name at least ten (10) subjects covering the Scope of Examinations For Real Estate Brokers :
1. FUNDAMENTALS OF PROPERTY OWNERSHIP
2. CODE OF ETHICS AND RESPONSIBILITIES
3. LEGAL REQUIREMENTS FOR REAL ESTATE SERVICE PRACTICE
4. REAL ESTATE BROKERAGE PRACTICE
5. SUBDIVISION DEVELOPMENT
6. CONDOMINIUM CONCEPTS AND OTHER TYPES OF REAL ESTATE HOLDINGS
7. REAL ESTATE FINANCE AND ECONOMICS
8. BASIC PRINCIPLES OF ECOLOGY
9. URBAN AND RURAL LAND USE
10. PLANNING, DEVELOPMENT AND ZONING
 11. LEGAL ASPECTS OF SALE LEASE AND MORTGAGE
12. DOCUMENTATION AND REGISTRATION
13. REAL PROPERTY LAWS AND TAXATION
14. ANY OTHER RELATED SUBJECTS AS MAY BE DETERMINED BY THE BOARD .
2617. What are the acts constituting real estate service practices?
1. PERFORMS FUNCTIONS FOR AND IN BEHALF OF THE REAL ESTATE BROKER.
2. ACT AS AGENT OF ANOTHER PERSON
3. OFFERS, ADVERTISES. LISTS, PROMOTES, MEDIATES, NEGOTIATES, AND EFFECTS THE MEETING OF THE MINDS FOR THE
SALE, PURCHASE, EXCHANGE, MORTGAGE, LEASE, JOINT VENTURE AND OTHER TRANSACTIONS RELATIVE TO REAL
ESTATE AND ITS INTERESTS
4. ACTS OF ESTIMATING AND RENDERING OPINION PERTAINING TO REAL ESTATE VALUES
5. OFFERING AND RENDERING PROFESSIONAL ADVICE OR JUDGMENT ON ACQUISITION, PRESERVATION, UTILIZATION OR
DISPOSITION OF LAND AND ITS IMPROVEMENT INCLUDING ITS EXISTING OR FUTURE RIGHTS.
6. OFFERING AND RENDERING PROFESSIONAL ADVICE ON THE CONCEPTION, PLANNING AND DEVELOPMENT OF REALTY
PROJECTS LIKE: SUBDIVISION LOTS, CONDOMINIUM UNITS, MARKET STALLS, HOUSING DEVELOPMENTS, TOWNHOUSES,
MEMORIAL PARKS AND THE LIKE SELLING AND DEVELOPING OF REAL PROPERTIES FOR SALE.
2618. Who are the persons exempted from securing a Real Estate Broker’s License although they sell real properties?
1. TRUSTEES SELLING UNDER A DEED OF TRUST
2. PROPERTY OWNERS WHO SELLS PROPERTY THEMSELVES BUT NOT FOR BUSINESS PURPOSES
3. PUBLIC OFFICIALS PERFORMING OFFICIAL FUNCTIONS AND DUTIES
4. RECEIVER OR ASSIGNEE ON BANKRUPTCY OR INSOLVENCY PROCEEDINGS
5. PERSONS APPOINTED AS ATTORNEY-IN-FACT
6. PERSONS WHO EXECUTES COURT ORDER
7. AUTHORIZED EMPLOYEES AND OFFICIALS OF BANKS, INSURANCE
8. COMPANIES, SAVINGS AND LOANS ASSOCIATIONS AND OTHER FINANCIAL INSTITUTIONS WHO DO NOT RECEIVE
ADDITIONAL COMPENSATION RELATIVE TO THE DISPOSITION AND SALE OF FORECLOSED OR ACQUIRED ASSETS.
2619. What are the qualifications of the Examination Committee Members?
1. AT LEAST 21 YEARS OLD
2. FILIPINO CITIZEN
3. HONEST TRUTHFUL AND OF GOOD MORAL CHARACTER
4. HAS NOT BEEN CONVICTED OF ANY OFFENSE INVOLVING MORAL TURPITUDE
5. MUST BE A LICENSED REAL ESTATE BROKER
6. MUST HAVE AT LEAST TEN(10) YEARS EXEMPLARY EXPERIENCE AS A LICENSED REAL ESTATE BROKER
2620. What are the general steps in Real Estate Brokerage?
1. SECURING LISTINGS
2. SECURING PROSPECTS
3. PRESENTATION & DEMONSTRATION
4. NEGOTIATION
5. CLOSING/CONSUMMATION
6. REGISTRATION

II. CODE OF ETHICS AND RESPONSIBILITIES. PRINCIPLES AND PRACTICE OF REAL ESTATE
2621. It governs the rules of conduct of the Realty practitioners. All persons, natural or juridical who are duly licensed by the DTI as Real Estate
Salesman, Broker, Appraiser or Consultant and other practitioners are covered by the Code of Ethics.
a. NATIONAL CODE OF ETHICS
b. Real Estate Code of Conduct
c. Ethical Standards in Real Estate
d. none of the above
2622. The scope of brokerage are as follows, but not :
a. AUTHORITY TO LOOK FOR A PROPERTY
b. ENGAGEMENT TO LOOK FOR A BUYER
c. PROCUREMENT OF INSURANCE FOR PROPERTIES SECURED BY REAL ESTATE
d. PROCUREMENT OF LOANS SECURED BY REAL ESTATE
e. PROCUREMENT OF TENANTS FOR RENTAL PROPERTIES
2623. A licensed Real Estate Broker is qualified to be appointed as member of the Broker’s Licensure Examination Committee provided he/she has
been a licensed Real Estate Broker:
a. Twenty years
b. Five years
c. Fifteen years
d. Three years
e. TEN YEARS
2624. What is the minimum CPE units required in order to renew you Real Estate Broker License:
a. 18 units
b. 14 units
c. 20 units
d. 12 units
e. 15 units
45 units old & 15 units after Dec 2022
2625. Under the Code of Ethics, the following is considered ethical:
a. Negotiate a property listed directly with the owner if the listing broker goes out of town for a few days and cannot be contacted
b. Should cooperate with other brokers on property listed provided they are members of any national real estate broker’s association
c. Use the services of the salesman of another broker provided the salesman is paid the agreed upon commission.
d. Willingly share with other brokers the lessons from his experience and study.
e. Inform and criticize among fellow brokers another broker who is not handling the sale properly
2626. Section 6 of Article 1. – Declaration of Principles of the Code of Ethics for Realty Service Practitioners clearly states the Golden Rule which
says :
a. “Treat others as you want them to be treated”
 b. “Do not do unto others what you want others do to you”
c. “Do unto others what you do not want others do unto you “
d. “Treat others the same as what others think they should be treated”
e. TREAT OTHERS AS YOU LIKE THEM TO TREAT YOU”
2627. A broker’s complaints for non-payments of commission by the developer shall be filed with:
a. REGULAR COURT
b. HUDCC
c. BTRCP
d. HLURB
2628. Who are the persons exempted from securing a Real Estate Broker’s License although they sell real properties ?
a. TRUSTEES SELLING UNDER A DEED OF TRUST
b. PUBLIC OFFICIALS PERFORMING OFFICIAL FUNCTIONS AND DUTIES
c. PERSONS APPOINTED AS ATTORNEY-IN-FACT
d. PERSONS WHO EXECUTES COURT ORDER
e. ALL OF THE ABOVE
2629. Under the RESA Law, In order that a candidate may be deemed to have successfully passed the examination, he/she must have obtained at
average of at least;
a. 75% in all subjects
b. 70% in all subjects
c. 75% in all subjects with no rating of less than 50% in any subject
d. 70% in all subjects with no rating of less than 50% in any subject
2630. Under Rule 4, Sec. 27, the following acts constitute the practice of real estate service except:
a. REAL ESTATE BROKERAGE
b. REAL ESTATE APPRAISAL
c. REAL ESTATE CONSULTANCY
d. REAL ESTATE MANAGEMENT
2631. The Code of Ethics for Real Estate Service Practitioners was promulgated and adopted by the PRB-RES. It was prescribed and issued by :
a. CHED
b. AIPO
c. Dep-Ed
d. PRC
2632. Any violation of R.A. 9646, including that of the IRR shall be meted the penalty of a fine of not less than:
a. P10,000.00 plus imprisonment of 2 years or both
b. P100,000.00 plus imprisonment of 2 years or both
c. P100,000.00 plus 2 yrs imprisonment or imprisonment upon the discretion of the court .
d. P200,000.00 plus 2 yrs imprisonment or imprisonment upon the discretion of the court.
2633. In case the violation of R.A. 9646, including that of the IRR is committed by an unlicensed real estate service practitioner, the penalty is :
a. P10,000.00 plus imprisonment of 2 years or both
b. P100,000.00 plus imprisonment of 2 years or both
c. P100,000.00 plus 2 yrs imprisonment or imprisonment upon the discretion of the court.
d. P200,000.00 plus 2 yrs imprisonment or imprisonment upon the discretion of the court .
2634. R.A. 9646 was enacted into law on:
a. JUNE 29, 2009
b. May 12, 2009
c. July 21, 2010
d. July 28, 2008
2635. How many CPE credit hours are required before the issuance or renewal of a broker’s license?
a. 20 credit hours – for those who failed to secure a license within 2 years from the date Of passing the examination
b. 16 credit hours – for those who shall renew its license every 3 years.
c. both A & B
d. none of the above

JJ. THEORIES AND PRINCIPLES IN APPRAISAL AND BROKERAGE

2636. This principle proves that if two similar houses are for sale, the lower priced house generally will be purchased first.
a. Consistent Use
b. Highest and Best Use
c. Conformity
d. Substitution
2637. The value of a property is the present worth of all present and future benefits arising from ownership and use of real estate.
a. Competition
b. Anticipation
c. Surplus Productivity
d. Consistent Use
2638. Real estate passes through a cycle of (in proper order )
a. Stability, Renewal, Decline, Revitalization
b. Revitalization, Stability, Growth, Decline
c. Decline, Stability, Revitalization, Growth
d. GROWTH, STABILITY, DECLINE, RENEWAL
2639. This principle is attracted by profit, favors the consumer, and may ruin profit if there is too much it.
a. Supply and Demand
b. Competition
c. Increasing Diminishing Returns
d. Progression/Regression
2640. An example of a direct violation of the principle of conformity is:
a. MISPLACED IMPROVEMENTS
b. Social and economic homogeneity
c. High crime rates in the neighborhood
 d. Poor purchasing power
2641. There is____ contribution if cost is less or equal than gain in value, while there is____ contribution if cost is greater than the gain in value of a
property.
a. Negative, positive
b. Positive, positive
c. Negative, negative
d. POSITIVE, NEGATIVE
2642. The target or basis of appraisal among all principle is:
a. Conformity
b. Highest and Best Use
c. Law of Supply and Demand
d. Consistent Use
2643. When several parcel of land are consolidated into one larger lot, the value of the single lot is larger than the sum of the individual lots.
a. Increasing and Diminishing Returns
b. Contribution
c. Plottage
d. Progression
2644. Synergistic value is also called
a. Caprice value
b. MARRIAGE VALUE
c. Investment value
d. Fair Market value
2645. Progression and Regression follows the law of:
a. Increasing and Diminishing Returns
b. Supply and Demand
c. ATTRACTION
d. Common law
2646. That point where over-improvement causes a decrease in income, and eventually a decrease in value of the property, is proved by:
a. LAW OF INCREASING AND DIMINISHING RETURNS
b. Law of Attraction
c. Law of Supply and Demand
d. Non-conformity
2647. Which of the following is not true?
a. When supply is high, and demand is low, value is low
b. When supply is low, and demand is high, value is high
c. WHEN SUPPLY IS LOW, AND DEMAND IS HIGH, VALUE IS LOW
d. All of the above
2648. Land has the last claim to the income of a property .
a. Balance
b. Change
c. Law of Supply and Demand
d. Surplus Productivity
2649. The four agents of production are:
a. Land, manpower, capital debt
b. Real Estate, purchasing power, cost of money, transaction price
c. Land, labor, capital, management
d. Producer, consumer, distributor, receiver
2650. Influences outside a property may have a positive or negative effect on its value.
a. Externalities
b. Socio-economic factors
c. Political influences
d. curable obsolescence
2651. Land cannot be valued on the basis of one use while the improvements are valued on the basis of another
a. Highest and best legal use
b. Increasing and Diminishing Returns
c. Conformity
d. CONSISTENT USE
2652. The value of materials recovered from depreciated property
a. Salvage value
b. Caprice value
c. SCARP VALUE
d. Unrepresented value
2653. Value in use is to the ____, while value in exchange is to the _____.
a. Appraiser, owner
b. Buyer, owner
c. OWNER, APPRAISER
d. Owner, buyer
2654. It is the result of net income divided to its rate .
a. Loan value
b. Capitalized value
c. Cash value
d. INVESTMENT VALUE
2655. Market value of the assessor is based on
a. Actual use
b. Zoning
c. CLASSIFICATION
d. Selling price
KK. STANDARDS AND ETHICS

2656. The process of analyzing sets of property and market data to determine the specific parameters of a model
a. Interpretation
b. CALIBRATION
c. Valuation
d. Expropriation
2657. The following are professional conduct of a property valuer except:
a. Integrity
b. Objectivity
c. THRIFTINESS
d. confidentiality
2658. A valuer may accept assignments with predetermined opinion conclusions, provided there is consent from the requesting party .
a. True
b. Partially true
c. False
d. NONE OF THE ABOVE
2659. Under the USPAP, a valuer must retain file and working papers at least
a. 3 years
b. 5 YEARS
c. 4 years
d. 6 years
2660. Under Philippine Valuation Standards, the minimum record keeping is
a. 3 years
b. 5 years
c. 4 years
d. 6 YEARS
2661. Loss in value is brought by all except:
a. ECONOMIC OBSOLESCENCE
b. FUNCTIONAL OBSOLESCENCE
c. CHANGE IN GOVERNANCE
d. PHYSICAL WEAR AND TEAR
2662. The National Code of Ethics of DTI contains rules of conduct and practice to the following except :
a. In relation to government
b. In relation to fellow practitioners
c. IN RELATION TO THE CHURCH
d. In relation to client
2663. A compliance review where a valuer gives and impartial judgment on work of another valuer
a. TECHNICAL REVIEW
b. Field review
c. Desk review
d. Valuation Appraisal review
2664. For purpose of correcting a fellow practitioner’s work a valuer may criticize publicity the former’s work, even if it might put him/her in bad light
a. True
b. Partially true
c. FALSE
d. Depending on the organization they are part of
2665. A valuer must always disclose a lack of skill or competence in an assigned project, and can get assistance from a more equipped fellow.
a. TRUE
b. Partially false
c. False
d. Depending on the workflow

LL. HUMAN AND PHYSICAL GEOGRAPHY

2666. The study of the earth and its features

a. Meteorology
b. GEOGRAPHY
c. Geology
d. Ecology
2667. ______is to relative location____ is to absolute location
a. Toponym, Site
b. Mathematical Situation, Situation
c. SITUATION, MATHEMATICAL SITUATION
d. Site, Toponym
2668. A township measures
a. 6X6 MILES
b. 8x8 miles
c. 7x7 miles
d. 9x9 miles
2669. The following are not physical indicators of the quality of life, except:
a. HOUSING
b. DEMOCRATIC PROCESS
c. LAND USE PLANNING
d. RECREATIONAL RESOURCES
2670. CRUDE DEATH RATE IS
a. Annual number of deaths per 10,000 square meters of spatial location
b. Annual number of deaths per 10,000 population
 c. Annual number of deaths per 1,000 live births
d. ANNUAL NUMBER OF DEATHS PER 1,000 POPULATION
2671. There is natural increase in fertility if
a. Crude birth rate is higher than crude death rate
b. Crude birth rate is lower than crude annual birth rate
c. Crude birth rate is higher than annual birth rate
d. Crude birth rate is higher than estimated NSO birth rate
2672. The movement from less concentration to more concentration is
a. Uprise
b. URBANIZATION
c. Growth
d. Revitalization
2673. Labor productivity is computed by:
a. Dividing value of capital to number of manpower
b. DIVIDING VALUE OF GOODS TO NUMBER OF LABOR HOURS
c. Dividing number of manpower to number of labor hours
d. Dividing number of labor hours to value of goods
2674. ______ is a term referring to permanent human settlement.
a. Demography
b. ECUMENE
c. Migration
d. Census
2675. The ratio of the length of an object to its length on the earth’s surface is called
a. Spatial distribution
b. Density
c. Concentration
d. SCALE

MM. REAL ESTATE FINANCING

2676. A sale in form but mortgage in substance

a. PACTO DE RETRO
b. Pacto de Non Aliendo
c. Pactum Commissorium
d. Dacion en Pago
2677. The period for right of redemption for corporations is
a. 1 year if habitually engaged
b. 1 month
c. 3 MONTHS
d. 1 year
2678. In a judicial foreclosure, the owner o a property has 3 months before approval of court order to redeem his/her land .
a. Right of redemption
b. REGLAMENTARY PERIOD
c. Equity of redemption
d. Prescriptive period
2679. It is the study of the production, distribution and consumption of goods and services
a. Geography
b. Accounting
c. Statistics
d. ECONOMICS
2680. Where buyers and sellers meet to exchange trade goods and services with value at negotiated prices
a. Economy
b. MARKET
c. Industry
d. Negotiation
2681. There are more sellers and few buyers
a. Seller’s market
b. Oligopsony
c. BUYER’S MARKET
d. Oligopoly
2682. The main participants in a real estate market are:
a. CONSUMERS, PRODUCERS AND DISTRIBUTOR’S
b. Owners, renters facilitators
c. Distributors, renovators developers
d. Users, facilitators, managers
2683. The following are agents of production except
a. LAND
b. PURCHASE POWER
c. LABOR
d. ENTREPRENEURSHIP
2684. That value concept that states that human labor is the sole creator of value
a. Social theory of Mill
b. Cost theory of Adam Smith
c. LABOR THEORY OF MARX
d. Scarcity theory of Malthus
2685. That value concept that states that land value increases indefinitely
a. SOCIAL THEORY OF MILL
b. Cost theory of Adam Smith
 c. Labor theory of Marx
d. Scarcity theory of Malthus

NN. LAND MANAGEMENT SYSTEM AND REAL PROPERTY LAWS

2686. All public lands cannot be alienated except:

a. Timber
b. Agricultural
c. Forest
d. Mineral
2687. Filipinos can purchase and lease how many hectares of public land?
a. 15 hectares purchase, 5 hectares lease
b. 12 hectares purchase, 500 hectares lease
c. Cannot purchase, but can lease 1000 hectares
d. 12 hectares purchase, 5000 hectares lease
2688. In order of priority, the least method of land acquisition the government resorts to is:
a. Land swapping
b. Expropriation
c. Negotiated purchase
d. Joint venture agreement
2689. An act authorizing HLURB to establish and promulgate standards and requirements for economic and socialized housing
a. PD 957
b. BP 220
c. EO 209
d. PD 27
2690. The minimum lot size for a single detached lot is:
a. .54 sqm
b. 72 sqm.
c. 36 sqm.
d. 32 sqm.
2691. A developer must deliver/turn over at least phase for every___ hectares every year.
a. 20 hectares
b. 10 hectares
c. 15 hectares
d. 5 hectares
2692. Subdivision and Condominium Buyer’s Decree
a. PD 592
b. PD 100
c. PD 27
d. PD 957
2693. In absolute community regime, the following are exclusive properties except
a. Those acquired by gratuitous title
b. Those fruits of labor, gains, in industry or profession
c. Those for personal or exclusive use of either spouse
d. Those acquired before marriage by either spouse who has legitimate descendants
2694. When one spouse gains chance (winning in betting), co-ownership of fruits applies; however, if that spouse loses,
a. The other spouse also takes part in the loss
b. Only the spouse who gambled is answerable/affected in the loss
c. There is no provision in the law for such
d. The law does not recognize because it is an illegal act
2695. Surcharge rate in general for national taxes is
a. 30%
b. 20%
c. 25%
d. 15%
2696. The maximum standard deduction for net estate comparison is
a. 1 million or total gross receipts of expenses, whichever is lower
b. 1 million
c. 2 million
d. 1 million or total taxes paid in the past 10 years, whichever is lower
2697. The number of CPE units required for a board passer last 2007 but failed to obtain license is
a. 15 units
b. 24 units
c. 18 units
d. 120 units
2698. Penal provision for an unlicensed practitioner is
a. P200,000 or 4 years imprisonment
b. P200,000 or 4 years imprisonment or both
c. P100,000 or 2 years imprisonment
d. P100,000 or 2 years imprisonment or both
2699. RA 7279 is also known as
a. Comprehensive Agrarian Reform Act
b. Agricultural Tenancy Act
c. Urban Development and Housing Act
d. Urban Land Reform Act
2700. The developer’s subdivision Retention , all developers required to allot
a. 30% open space, 70% saleable area
b. 20% of total subdivision area or 20% total subdivision cost
 c. At least 20 of gross floor area in a condominium project
d. None of the above
2701. The physical possession by a person land devoted to agriculture belong to, or legally possessed by the another, for the purpose of product
through the labor of the former
a. Free patent
b. Agricultural tenancy
c. Irrigable cultivation
d. CLOA
2702. The juridical tie between landholder and tenant is called
a. Judiciary tenancy
b. Artificial conjugation
c. Tenancy relationship
d. Conjugal gains
GOD BLESS…

TERESITA B. BONGALES,CE,MPA,REA
REM INSTRUCTOR