PROFESSIONAL PRACTICE

MOCK EXAMINATION
(MANILA)

Name: _______________________________________________________ Score: ______

START HERE

1. A parcel of land was sold by a corporation to the buyer. In this

case, the person who will sign the deed of absolute sale must be
a. The CFO of the corporation
b. The corporate secretary
c. The Vice-President for Realty Procurement
d. The person authorized by a board resolution
e. The person authorized by the company president

2. 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
e. None of the above

3. One who is authorized to performed any and all acts associated with
the continued operation of a particular job or business.
a. General agent
b. Administrator agent
c. Managing agent
d. Sales agent

4. Marital consent is not required in deed of sale, except:

a. When the property relation of the spouses is one of absolute
community
b. When the property relation of the spouses is one of absolute
separation
c. When the property relation between the spouses is one of the
conjugal partnership of gains 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

5. Authority given by the owner of an income property for the broker to

secure tenants.
a. Lease agency
b. Tenancy
c. Leased Fee agency
d. Car Rental Agency

6. 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 Deeds
d. In writing and duly notarized
 e. In writing
7. A term that refers to the reservation of right to buy which is
separate from the purchase price.
a. arras
b. finder’s fee
c. Escrow
d. Option

8. What is the Rule in case area is different from that stated in the
contract and the sale is for a lumpsum?
a. The vendee may accept the area included in the contract and
reject the rest
b. The vendee may accept the whole area, but must pay for the
excess area at the contract rate
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

9. 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

10. Mr. TOLIX sold 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

11. 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. Fiat money
c. arras
d. None of the above

12. 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

13. PRC was previously called the_______________________, which was

created by Republic Act No. 546 on June 17, 1950, under the aegis of
the Civil Service Commission
a. Office of the Board of Examiners
 b. Professional Board of Regulations
c. National Professional Countil
d. Philippine Regulation Commission

14. 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

15. The person who cannot acquire by purchase because of fiduciary

relationship:
a. Guardians
b. Executor and administration
c. Agents
d. All of the above

16. 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
totaling 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
e. No cash surrender value

17.Assuming same values in number 16 but he has paid 18 monthly

amortization totaling to 354,978 monthly amortizations 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

18. The buyer bought a 200 sqm. Subdivision lot at P20,000.00 / sqm. He
paid 20% down payment the balance payable in 180 equal amortizations
at 22% interest per annum. He has paid 168 monthly amortization
totaling P 3,872,000 inclusive of penalty interest of P72,000.00.
Compute for his cash surrender value the Macedo Law. What is the cash
surrender value under the Maceda law, if any?
a. 4,370,000
b. 4,140,000
c. 3,420,0000
d. None of the above

19. How many regions do we have in the Philippines as of today?

a. 18
b. 17
c. 16
d. 15

20. Compostella Valley is now known as

a. Davao Region
b. Island Garden City of Samal
 c. CARAGA
d. Davao de Oro

21. The following are officially the major provinces in Davao

Region
a. Davao de Oro, Davao del Norte, Davao del Sur, Davao Oriental,
and Davao Occidental.
b. Davao de Oro, Cagayan, Davao del Sur, Davao Oriental,
and Island Garden City of Samal.
c. Davao City, Davao del Norte, Davao del Sur, Davao Oriental,
and Davao Occidental.
d. Compostella Valley, Davao del Norte, Davao del Sur, Davao
Oriental, and Island City Garden of Samal.

22. Sara Duterte’s hometown is geographically located in which

province?

a. Davao de Oro
b. Davao del Norte
c. Davao del Sur
d. Compostella Valley
e. Davao Oriental

23. Leni Robredo’s hometown is geographically located in what

province?
a. Bicol
b. Camarines Norte
c. Camarines Sur
d. Albay

24. A business year used for tax, corporate or accounting purposes,

as opposed to a calendar year
a. a year in Mars
b. Business year
c. Taxable year
d. Fiscal year

25. One who stays on the leased premises after his lease has
expired. The landlord normally has the choice of evicting the
holdover tenant or permitting him to remain and continue to pay rent
a. Ancho tenant
b. Hold-over tenant
c. Tacita reconducta
d. Master tenant

26. NCR has 1 municipality known as _____, and how many cities?
a. Pateros, 17
b. Pateros,16
c. Muntinlupa, 17
d. Pateros, 15

27. 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. One year
c. Eighteen months
d. As approved by HLURB
e. Twenty-four months
28. EO 227 Amended Article 36 of the Family Code which provides
that psychological incapacity, whether manifesting during or after
marriage renders the marriage as ___
a. Voidable
b. Valid
c. Void
d. Enforceable

29.Lenders might be sources of information in all of the following areas

EXCEPT
a. Commercial transactions
b. Lease terms
c. Interest rates
d. Industrial transactions

30.RA 11261 No fees or charges shall be collected from first time

jobseekers when obtaining the following, after getting barangay
certification attesting such being first time jobseekers EXCEPT:
a. TIN ID, UMID ID
b. barangay clearance, NBI and police clearance
c. medical certificate from public hospital
d. birth and marriage certificates
e. other documentary requirements issued by the private employer
that may be required by the government from applicants

31. 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 Assessor
d. City/ Municipal Development Planning Officer

32.The machine is depreciated at 5.0% per year on a straight line basis.

What is the estimated useful life?
a. 100 years b. 50 years c. 25 years d. 20 years

33. In exclusive-use condominium with the unit owners. Simple Majority

is based on:
a. Unit of ownership
b. Total area of condominium units
c. Floor area of ownership
d. Value of the condominium unit

34. Mixed-use condominium projects, the master deed may be amended by

simple majority based on:

a. Unit of ownership
b. Total area of condominium units
c. Floor area of ownership
d. Value of the condominium unit

35. 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. 100 sq.m.
d. 200 sq.m.
36. According to Lina Law, 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 ___ (years.
a. 15 b. 20 c. 5 d. 10

37. 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. Three (3) years
c. Four (4) years
D. Ten (10) years

38. Vaccine Czar of PH’s COVID-response

a. Teofilo Pilando Jr.
b. Carlito Galvez Jr.
c. Vince Dizon
d. Benjamin Magalong

39. BIR Revenue MC 13-2021 entails

a. Online TIN verification via application on mobile
b. Celebrities and vloggers are now being taxed
c. TRAIN Law Package 2 implementation
d. Deadline of Amnesty

40. He was considered the first to practice the real estate brokerage
in the Philippines in early 1920’s after the world war.
a. Mr. William Petty
b. Sir Collin Hoskins
c. Mr. Collin Hoskins
d. Sir Robert Torrens

41. The first valuation manual was made by

a. Sir William Petty
b. Sir Collin Hoskins
c. Mr. Collin Hoskins
d. Sir Robert Torrens

42. The 2nd longest river in the Philippines

a. Cagayan River
b. Rio Grande de Cagayan River
c. Agusan River
d. Mindanao River

43. National Shelter Month

a. October
b. January
c. March
d. August

44. A special joint tenancy between a lawfully married husband and

wife, which places all title to the property into the marital unit,
with both spouses having an equal, undivided interest in the whole
property.
a. Tenancy at Will
b. Tenancy by the entirety
 c. Tenancy in Severalty
d. Tenancy in common

45. The right of survivorship is that special feature of a joint

tenancy whereby all title, right and interest of a decedent joint
tenant in certain property passes to the surviving joint tenants by
operation of law, free from claims of heirs and creditors of the
decedent
a. True
b. False
c. Maybe
d. Sometimes when we touch

46. SUMMARY POSSESSION is the legal process used by a landlord to

regain possession of the leased premises if the tenant has breached
the lease or is holding over after the termination of tenancy.
a. True
b. False
c. Maybe
d. Sometimes when we touch

47. That law which requires certain contracts to be in writing and

signed by the party to be charged therewith in order to be legally
enforceable.
a. Statue of Liberty and Rights
b. 1987 Constitution
c. Statute of Frauds
d. Revised Penal Code

48. A clause usually found in percentage leases, especially in

shopping center leases, giving the landlord the right to terminate
the lease if the tenant does not maintain a specified minimum amount
of business.
a. Recapture Clause
b. Hold-over clause
c. Seizure clause
d. Turnover clause

49. The fear of being away from one’s mobile device is called
a. Mobiliophobia
b. Phonobia
c. Pornobia
d. Nomophobia

50. Right of way act, as the latest amendment for national

infrastructures
a. RA 11232
b. RA 11223
c. RA 10023
d. RA 10752

51. Republic Act No. 10708

a. ‘The Tax Incentives Management and Transparency Act (TIMTA)’
b. ‘National Internal Revenue Code’
c. "Tax Reform for Acceleration and Inclusion (TRAIN)"
d. all of the above

52. Currently, how many countries make up the ASEAN?

a. 13
b. 12
 c. 11
d. 10

53. Prices of office units in a Metro Manila have been rising

dramatically because of
a. Demand-pull inflation
b. Stagflation
c. Cost-push inflation
d. leverage

54. 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 value of manpower to number of labor hours
d. dividing value of labor hours to value of goods

55. When demand for housing increases,

a. it is buyer's market
b. prices decrease
c. prices increase
d. prices remain in balance

56. In a judicial foreclosure, the owner of a property has 3 months

before approval of court order to
a. right of redemption
b. reglamentary period
c. equity of redemption
d. prescriptive period

57. Supply and demand interact to affect property prices. Which is

not correct?
a. when demand decreases, price increases
b. when supply increases, price decreases
c. when demand decreases, price decreases
d. when supply decreases, price increases

58. The practice of holding a loan for a specified period before it

may be sold into the secondary market.
a. loan seasoning
b. loan participation
c. loan portfolio
d. loan servicing

59. The transfer tax on the sale of real property located in

Zamboanga City shall be paid to:
a. Bureau of Internal Revenue
b. City Treasurer
c. City Assessor
d. Register of Deeds

60. In relation to the Revised Corporation Code, the life of the

condominium corporation is:
a. 50 years
b. 25 years’ renewable for another 25 years
c. unlimited already
d. Co-terminus with the condominium project

61. 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 with the LRA
b. Extrajudicial settlement of estate with the RD
c. Transfer of Rights with the Assessor’s Office
d. Deed of donation with the RD

62. In the sale of a condominium unit, it is necessary to present

this additional document in order to register the sale in favor 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

63. The latest price ceiling/s for socialized subdivisions as per

latest Housing Urban Development Coordinating Council resolution is:
a. 450K
b. 400K
c. 500-580K
d. 480K-580K

64. HUDCC Resolution 1 Series of 2018 entails

a. Income Level for underprivileged Filipinos
b. Price ceilings for socialized housing
c. Price ceiling for socialized condominium
d. Price ceiling for economic housing

65. International Valuation Standards Council headquarter is located

a. in United States b. in London, UK
c. in The Netherlands d. in Switzerland

66. In case one cannot find or locate his copy of the owner’s
duplicate certificate of title, he must file with the register of
deeds the following:
a. Affidavit of duplication
b. Affidavit of Recovery
c. Sworn statement of ownership
d. Sworn statement of loss of such title

67. In case of transfer tax payable to the municipal treasure, the

rate of transfer tax shall be
a. 1.5% b. ½ of1% c. ¾ of1% d. 0.05

68. 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. Nine (9) hectares

69. 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
70. Under PD 957, the real estate dealer must file a bond with DHSUD
in the amount of

a. 1,000 b. 5,000 c. 20,000 d. 25,000

71. 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. Profit
d. Referral Fee

72. A real estate consultant is required to file a cash bond with PRC
in the amount of?

a. 500 b. 1,000 c. 20,000 d. none

73. In the sale of a property of the owner, the real estate broker
shall be entitled to commission if

a. The broker is able to find a ready and willing buyer

b. The broker is the only broker involved
c. The broker is the procuring cause of the sale
d. The broker is registered with the BIR

74. The carry-over clause entitles the real estate broker to

a. Extension of his authority until the last day of the year

b. Broker’s commission even if the sale is closed after expiration of
authority and the buyer is registered in writing with the seller
c. Broker’s commission even if the buyer was registered after the
expiration of his authority
d. Brokers commission even if the owner himself sold the property

75. The holdover clause in real estate brokerage, is also referred to

as
a. Carry-over clause
b. Safety clause
c. Extender clause
d. All of the above
e. None of the above

76. 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

77. 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
78 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

79. 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

80. 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

81. 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

82. Generally, refers to in real estate brokerage as a buyer who is

willing and has the capacity to buy the property
a. Sure buyer
b. Future prospect
c. Prospect
d. Suspect

83.According to RESA, 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 agent
b. Real estate salesperson
c. Real estate subagent
d. Real estate sales consultant

84. 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. Commission or other valuable consideration only
b. Other valuable consideration only
c. Commission only
d. Valuable compensation only
85. 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

86. 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 a/n
a. Exclusive listing
b. Exclusive right to sell
c. Open listing
d. Non-exclusive authority

87. 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

88. Generally, the person who contracted the service of the broker in
looking for a property is bound for payment of commission and is the
a. Seller
b. Principal
c. Purchaser
d. Seller and buyer

89. 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 agreed mutually and reduced in writing
b. Be clarified at the beginning
c. Be duly notarized
d. Be in front of at least two witnesses

90. 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 Authority
b. Contract of Agency
c. Contract of Authority
d. Contract of brokerage

91. 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

92. The following are modes of extinguishing agency, except

a. Expiration of period
b. Withdrawal of agent
c. Death of the buyer
d. Revocation

93. Mr. Joko gave an authority to negotiate sale 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

94. 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

95. A kind of survey where the shape of the earth is taken into
account in computing results is known as

a. plane survey
b. cadastral survey
c. geodetic survey
d. topographic survey

96. A professional person who determines the shape, contour and

measurement of land:

a. Architect
b. Surveyor
c. Civil engineer
d. Geodetic engineer

97. Tenants of urban land where their residence is constructed shall

have the land when the following requisites are present, except?

a. they are legitimate tenants

b. they have occupied the land for at least ten (10) years
c. the land is within an urban land reform zone
d. the land owner is not yet selling the land

98. As provided by RA. 109884, a developer of a subdivision is

required to develop an equivalent of twenty (15%) percent of the
project for:

a. Open space
b. Socialized housing
c. parks and playground
d. affordable housing

99. Land valuation guidelines for socialized housing as per RA 7279

a. BLGF
b. Department of Finance
c. NHA
d. Provincial/City Assessor
100. What is the total interest of Php 500,000.00 loan in 5 years at
12% interest per annum if interest is simple?

a. Php 60,000.00
b. Php 120,000.00
c. Php 200,000.00
d. Php 300,000.00

101. The buyer bought an installment lot and paid 30% down payment.
How much is the selling price if monthly amortization factor
is .02705 and the monthly amortization is Php 17,041.50?
a. Php 700,000.00
b. Php 800,000.00
c. Php 900,000.00
d. Php 1,000,000.00

102. Related to No. 101. The buyer bought an installment lot and
paid 30% down payment. If interest is at 21% per annum, how much is
the total interest after paying it in full in 60 months? Monthly
amortization is Ph 17,041.50 while amortization factor is .02705.

a. Php 661,500.00
b. Php 945,000.00
c. Php 189,000.00
d. Php 392,490.00

103. Under the new BIR ruling, acquired assets of banks, when sold,
regardless of amount are subject to:

a. capital gains tax of 6%

b. CWT of 6%
c. CWT of 5%
d. capital gains tax of 5%

104. For purposes of determining whether a seller/transferor can be

considered as habitually engaged in real estate business, he should
offer satisfactory evidence that he consummated at least ___ taxable
real estate transactions during the preceding year.

a. Five
b. Eight
c. Twelve
d. Six

105. Withdrawal limit from bank account of decedent without

certification from the BIR is abolished under Train law but subject
to final tax of:
a. 1%
b. 3.5%
c. 5%
d. 6%

106. Under RA 10963, now the estate tax return shall be filed and
paid with the BIR within:
a. one year
b. six months
c. 90 days
d. 120 days

107. Under TRAIN Law, removal of funeral expenses cap was made and
the amount of standard deduction from the estate of a decedent is
increased to:

a. Php 500,000.00
b. Php 10,000,000.00
c. Php 1,000,000.00
d. Php 5,000,000.00

108. AN ACT INSTITUTIONALIZING THE PHILIPPINE QUALIFICATIONS

FRAMEWORK (PQF)

a. RA 10963
b. RA 10023
c. RA 11213
d. RA 10968
e. None of the above

109. Mr. Massimo sold his property for Php 85,000.00 with a down
payment of Php 500,000.00 and the balance of Php 350,000.00 payable
in one year was secured by a mortgage on the same property without
interest. Compute for the documentary stamps to register the
transaction (DST on sale and mortgage). TRAIN Law applies.

a. Php 12,750.00
b. Php 8,500.00
c. Php 13,460.00
d. None of the above

110. The capital gains tax on the sale of Php 2,100,000.00 property
with Php 525,000.00 initial payment is:

a. Php 131,250.00
b. Php 31,500.00
c. Php 126,000.00
d. None of the above

111. Capital gains tax on the sale of real estate classified as

capital asset is a/an:
a. Creditable tax on the sale
b. Deductible item from income tax
c. Expanded withholding tax
d. Final withholding tax

112. In appraisal of an old building, economic life is the sum of:

a. Actual age plus remaining physical life

b. Actual age plus remaining economic life
c. Effective age plus remaining economic life
d. Effective age plus remaining physical life
113. In the cost approach to value, physical deterioration is
estimated by the formula:

a. Economic life divided by chronological age.

b. Chronological life divided by economic life
c. Economic life divided by effective age
d. Effective age divided by economic life

114. X bought a subdivision lot valued at Php 1,000,000.00 and paid

thirty percent (30%) down payment, the balance is to be amortized for
60 months at twenty-one (21%) interest per annum. The amortization
factor is .02705 based on the above, the first monthly amortization
carried an interest equivalent to

a. 6,685.00
b. 17,500.00
c. 12,250.00
d. 18,935.00
e. 19,850.00

115. The average selling price of homes in a district can best be

ascertained by:
A. assessed value
B. an appraisal
C. comparative analysis
D. none of the above

116. Refers to one who has both no willingness and no capacity to buy
the property
a. Suspect
b. Prospect
c. Future Prospect
d. Sure buyer

117. 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

118. 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

119. 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

120. In the case where there are more than sellers of lots in a
subdivision, then it is considered a

a. Oversupply of buyer
b. Sellers’ market
c. Buyers’ market
d. Open market

121. DHSUD means in local translation

a. Kagawaran ng Pananahanang Pantao at Pagpapaunlad ng Kalunsuran
b. Kagawarang Pantao at Pagpapaunlad ng Kalunsuran
c. Komisyon ng Pangkarapatang Pantao at Pagpapaunlad ng Kalusugan
d. Komisyon ng Pananahanang Pantao at Pangkalarang ng Kalunsuran

122. PAGIBIG means

a.Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno
b.Pagtutulungan sa Kinalaunaan: Ikaw, Bangko, Industrialisasyon at
Gobyerno
c. Pangangarap sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno
d. Pagkamit ng Kinalaunang Industria sa Banjo at Pang-Gobyerno

123. 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

124. 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 down payment 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

125. Article XII of the 1987 Constitution is

a. NATIONAL ECONOMY AND PATRIMONY
b. NATIONAL SECURITY AND PROPERTY REGIMES
c. LOCAL ECONOMY AND PROPERTY RIGHTS
d. NATIONAL PATRIMONY AND ECONOMY

126. 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
127. 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 5% every year but not to exceed ___ % of total payment
made.
a. (75%) percent
b. (50%) percent
c. (100%) percent
d. (90%) percent
e. Ten (10%) percent

128. Property owners with manual certificates of title may choose to

avail of this upgrade to e-Title to avoid the inconvenience of the
process of replacement of Owner’s Duplicate Certificate of Title. The
process does not include:
a. Bring your Owner’s Duplicate Certificate of Title, and other
required documents i.e., verified petition by the registered owner,
tax clearance, certified copy of tax declaration, and valid
identification, to the nearest satellite office of the LRA.
b. The LRA shall match the duplicate copy to the original to validate
authenticity.
c. Once validated, the conversion process of your manual title to e-
Title shall commence after payment of minimal fees.
d. None of the above

129. 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 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

130. A contract which is merely an executory contract or a mere

promise to sell with no transfer of ownership.
a. Contract of sale
b. Deed of sale with assumption of mortgage
c. Deed of sale with “Pacto de Retro”
d. Contract to sell
e. Deed of absolute sale

131. A conclusive authority from the registered owner to the Registry

of Deeds (ROD) to enter a new certificate of title or to make a
memorandum of registration in accordance with the instrument
embodying the voluntary dealing. Generally, no voluntary dealing
shall be registered by the ROD unless this is presented.
a. Owner’s Duplicate Certificate of Title
b. Certificate Authorizing Registration
c. Tax Declaration
d. Official Receipt of Transfer Tax Payment

132. Article 1142 of the Civil Code provides but clarified by a

jurisprudence that the Right to foreclosure of real estate mortgage
prescribes in

a. 1 year from the time the right of action accrued

b. 10 years from the contract of mortgage execution
c. 10 years from the time the right of action accrued
d. 1 year from the contract of mortgage execution
133. Under RA 8791, the maximum redemption period after extrajudicial
foreclosure of mortgage executed by a corporation in favor of a bank
is:

a. 9 months
b. 18 months
c. 3 months
d. 6 months
e. 12 months

134. The contract of lease of more than 1 year 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

135. 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

136. 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. adverse claim
d. issuance of new duplicate certificate of title

137. What is a future 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
but will find a way to afford the property
d. A person who is in need and can afford to buy

138. 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

139. Under the procedures in registration of conveyance provided by

PD 1529, In duplicate of grantor’s certificate and shall be stamped
as follows:

a. “Transferred”
b. “Registered”
c. “Cancelled”
d. “Superseded by”
140. Premise accepted by buyer in its existing condition at the time
the property is bought with all physical defects.
a. As is condition
b. Conditional buying
c. Limited buying
d. contract to sell

141. Expanded the scope of the coverage of real estate practice that
included not only the real estate brokers, but also real estate
appraisers and real estate consultants.
a. Act 2728
b. RA 9646
c. Ministry Order No. 39 Series of 1985
d. Commerce Administrative Code No. 60-1

142. Tenancy that can be cancelled anytime by landlord or tenant.

a. Tenancy at will
b. Tenancy at sufferance
c. Free Tenancy
d. Illegal tenant

143. Refers the system of combining all properties offered into a

common list and made available to
all broker participants.
a. Multiple listing
b. Net listing
c. Gross listing
d. Open listing

144. Refers to the trade of buying, selling, leasing and financing,

developing real properties by real
estate dealer.
a. Real estate as Business
b. Real estate as profession
c. Real estate as job
d. Real estate as occupation

145. In the case where there are more buyers than sellers, then it is
considered a seller’s market as there are fewer real properties
available vis-à-vis a higher demand for it. In this case,
a. the movement of prices will tend to go up because of the higher
demand
b. the movement of prices will tend to go down because of the higher
demand.
c. the movement of supply will tend to go up because of the higher
demand
d. the movement of supply will tend to go down because of the higher
demand

146. Which of the following is/are TRUE?

Statement 1: Maximum of three qualified PAG-IBIG members may be
tacked into a single loan.
Statement 2: Eligibility for borrower’s age must not be more than 65
years old upon filing, not more than 70 years old upon loan maturity.
Statement 3: Pag-ibig loan charges and deductions processing fee
usually total to Php 3,000.00
a. All Statements Are False
b. Only Statements 1 and 3 are True
c. All Statements Are True
d. Only Statement 3 is True
147. All real estate service associations shall be integrated into
one (1) national organization, which shall be recognized by the
Board, subject to the approval of the Commission, as the only
accredited and integrated professional organization of real estate
service practitioners pursuant to
a. PRC Res. No. 2004-178, Series of 2004
b. PRC Res. No. 2004-179, Series of 2004
c. PRC Res. No. 2004-180, Series of 2005
d. PRC Res. No. 2004-181, Series of 2005

148. An environment-friendly mangrove aquaculture system that

promotes the harmonious co-existence between fishery species and
mangrove trees in a semi-enclosed system.
a. Aquasilviculture
b. Horticulture
c. Mariculture
d. Mangrove Aquaculture

149. Refers to a title formally recognizing the rights

of ICCs/IPs over their ancestral lands.
a. Certificate of Ancestral Lands Title
b. Certificate of Ancestral Domain Title
c. Native Title
d. Ancestral Title of Indigenous Peoples

150. Those with facilities and operational procedures

sufficiently adequate that the livestock and fowls slaughtered
therein is suitable for sale in any market within the country.
a. Class "AAA" Slaughterhouse/Abattoir
b. Class "AA" Slaughterhouse/Abattoir
c. Class "A" Slaughterhouse/Abattoir
d. All of the above

151. Those with facilities and procedures of minimum

adequacy that the livestock and the fowls slaughtered therein are
suitable for distribution and sale only within the city or
municipality where the slaughterhouse is located.
a. Class "AAA" Slaughterhouse/Abattoir
b. Class "AA" Slaughterhouse/Abattoir
c. Class "A" Slaughterhouse/Abattoir
d. All of the above

152. As specified in CLUP, this refers to the finish ground level of

a proposed development which shall be determined according to the
provisions of the latest edition of the National Building Code.
a. Ground Floor
b. Finished Baseline
c. BHL
d. Established Grade

153. A high density commercial area within a city/municipality

intended for regional shopping centers such as large malls and other
commercial and business activities which are regional in scope or
where market activities generate traffic and require utilities and
services that extend beyond local boundaries and requires
metropolitan level development planning and implementation. High rise
hotels, sports stadium or sports complexes area also allowed in this
zone.
a. Commercial-3 Zone(C4-Z)
b. Commercial-2 Zone(C2-Z)
c. Commercial-1 Zone(C1-Z)
d. (C3-Z) or also called as CBD

154. Different uses capable of existing harmoniously within a zone,

e.g. Residential and parks and playground uses subject to the
conditions stipulated in the Zoning Ordinance.
a. Conforming Uses
b. Compatible Uses
c. Conflicting Uses
d. Inflicting Uses

155. A unitary development plan/site plan that permits flexibility in

planning/urban design, building/structure siting, complementary of
building types and land uses, usable open spaces for general public
uses services and business activities and the preservation of
significant land features (NBC.
a. Master Development Plan/ Comprehensive Development Master Plan
b. Comprehensive Land Use Plan
c. Town Plan
d. Planned Unit Development

156. A land development scheme wherein the project site is

comprehensively planned as an entity via unitary site plan which
permits flexibility in planning/design, building siting,
complementarity of building types and land uses, usable open spaces
and the preservation of significant natural land features.
a. Master Development Plan/ Comprehensive Development Master Plan
b. Comprehensive Land Use Plan
c. Town Plan
d. Planned Unit Development

157. Empowering the HLURB to review and approve or disapprove land

use plans of cities and municipalities.
a. RA 7160
b. EO 72
c. RA 7279
d. EO 90

158. Active Fault Overlay Zone (FLT-OZ) is an area in a municipality

defined by _____ wide strips on both sides of and running along
identified earthquake faults. It is to minimize the possible harmful
effects of fault movements to properties.
a. five (5)-meters
b. five (5)-square meters
c. fifteen (15)-meters
d. fifteen (15)-square meters

159. The proof of ownership of lands awarded to an agrarian reform

beneficiary under R.A. No. 6657, as amended, which contains the
restrictions and conditions for such ownership and must be registered
in the Register of Deeds.
a. Emancipation Patent (EP)
b. Certificate of Land Ownership Award (CLOA)
c. Vested Right
d. Right of Security of Tenure (SoT)

160. A property right which has become fixed and established, and is
no longer open to doubt or controversy; an immediately fixed right of
present or future enjoyment as distinguished from an expectant or
contingent right.
a. Emancipation Patent (EP)
b. Certificate of Land Ownership Award (CLOA)
c. Vested Right
d. Right of Security of Tenure (SoT)

161. The proof of ownership of lands awarded to an agrarian reform

beneficiary under P.D. No. 27 (Operation Land Transfer) or Executive
Order No. 228 which contains the restrictions and conditions for such
ownership and must be registered in the Register of Deeds
a. Emancipation Patent (EP)
b. Certificate of Land Ownership Award (CLOA)
c. Vested Right
d. Right of Security of Tenure (SoT)

162. Mr. Deviro has furnished the REB a copy of the TCT for a
proposed real estate development. What is not applicable for due
diligence with respect to the veracity of the TCT?
A. Immediately obtain a certified true copy of the TCT from RD
B. Review the title history by examining the data pertaining to the
previous title
C. Check the tax declaration
D. Check if the TCT utilizes the correct form

163. Suppose a property is titled to a deceased person, which

recommendation below is not absolutely necessary?
a. Recommend that the heirs settle the estate taxes.
b. That the heirs should adjudicate ownership among themselves.
c. That after adjudication, they should wait for two years before
starting construction on the said property.
d. Recommend that the heirs must designate only one person to be
their special power of attorney with respect to the property.

164. A group of complementary land uses; a congruous grouping of

inhabitants, buildings, or business enterprises.
a. market area
b. district
c. neighborhood
d. village

165. Growth (inclining – demand, Stability (stable), Decline (loses

desirability), Revitalization (restoration of deteriorated
properties) are commonly known as
a. Multiplier Effect of Real Estate
b. Stages of Business Life Cycle
c. Realty Economic Processes
d. Macroeconomic Theory

166. The holder of title in OWNERSHIP IN SEVERALTY.

a. Husband and Wife
b. Joint tenants
c. tenants in common
d. Sole owner

167. There are several titleholders of the property. Upon the

deceased of one of the owners, that owner's share passes to his or
her heirs. There is no right of survivorship with tenancy in common.
There can be unequal ownership shares as well.
a. Ownership in Severalty
b. Tenancy in Common
c. Joint Tenancy
d. Joint Venture
168. The developer invests P 100M in a project and successfully made
a net income before tax of P 50M after 3 years. If his income tax
bracket is 25% what is his EBIT (earnings before interest and tax) in
terms of the absolute ROI?
a. 50%
b. 37.5%
c. 40%
d. 12.50%

169. One of the amendments under Department Order 59 Series of 2019,

How many parking slots should be provided in a residential condo with
240 units that are all below 50 sqm in size?
a. 50
b. 30
c. 40
d. 80

170. As per DPWH DO 59-2019, residential condominium- Units with a

gross floor area above 50.00 sq. meters up to 100.00 sq. meters will
provide one (1) pooled parking slot for every __ units.
a. 4
b. 5
c. 6
d. 8

171. If a residential condo has 250 dwelling units, what is the

minimum size of the park or playground?
A. 1,500 sqm
B. 650 sqm
C. 770 sqm
D. 740 sqm

172. The then HLURB requires publication by the developer of a notice

of filing of the project registration statement
A. In at least two newspapers for 30 days
B. In one newspaper daily for two weeks
C. In two newspapers daily for one week
D. In two newspapers, once a week, for two weeks

173. Design Standards and Guidelines for Residential Condominium

Projects The minimum size of parks/playgrounds for condominium
projects under PD 957.
A. 100 sq. meters
B. At least one floor with amenities
C. 50 sq. meters for every 10 units
D. 50 sq. meters plus 3 sq. meters per unit in excess of ten

174. Following the guidelines set on IRR of PD 957, Preservation of

Site Assets:
a. Suitable trees with a caliper diameter of 200 millimeters or more,
as well as shrubs and desirable ground cover shall be preserved in
accordance with the implementing rules and regulations of DENR
b. Where good quality top soil exists in the site, it shall be banked
and shall be preserved for finishing grades of yards, playgrounds,
parks and garden area.
c. Only B is true
d. Both A and B are true

175. In PD 957, areas parks and playgrounds are required for

residential condominium projects. Which is/are TRUE?
1 point
A. Not required if condominium is located not more than or 800 meters
from a publicly accessible park/playground/or other recreational
facilities.
B. Not required if the project has less than 10 condo units.
C. Not required if the total salable area is less than 1,000 sqm.
D. All of the above is true

176. The minimum size of parks/playgrounds for subdivision projects

with 1 hectare or more under PD 957.
A. 100 sq. meters
B. At least one floor with amenities
C. 50 sq. meters for every 10 units
D. 50 sq. meters plus 3 sq. meters per unit in excess of ten

177. At present, the association dues of unit owners in the

condominium corporation
A. Shall be subject to income tax
B. Shall be subject to EVAT or percentage tax only
C. Shall be exempt from EVAT
D. Shall be subject to all internal revenue taxes

178. Mr. Charat bought an equipment to be used in maintaining his

real property and 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

179. Marites bought a 200sqm lot at 3K per sqm. She paid 25% DP and
the balance is payable in 120 mos. At 20% interest per year. She
already paid 84 MA w/ a total of 737,612.00 inclusive of penalty
interest of 32,000.00. How much is the refund under Maceda Law?
a. 513,367.20
b. 531,637.20
c. 513,763.20
d. None of the above

180. You are to sell my property originally bought at 8.2M. I want a

40% gross profit. How much should you sell my property if you want a
5% commission?
a. 14,180,000
b. 12,504,000
c. 11,480,000
d. 12,054,000

181. The money paid by the state when a public agency takes private
property and converts it for public use.
a. Fair compensation
b. Just compensation
c. Disturbance compensation
d, Cash surrender value

182. Modes of acquiring RIGHT OF WAY of Government under

expropriation act, except
a. Donation
b. Purchase
c. Expropriation
d. Agreement between Servient & Dominant estate
183. Modes of acquiring EASEMENT
a. Negotiated sale
b. Expropriation
c. Agreement between Servient & Dominant estate
d. Donation

184. A notice of adverse claim annotated on a title is valid only for

a. 30 days
b. 60 days
c. 90 days
d. 6 months

185. Encumbrance imposed upon an immovable for the benefit of another

immovable belongings
a. right of way
b. nuisance per se
c. easement
d. none of the above

186. No developer shall levy upon any lot or unit buyer a fee for an
alleged community benefit. Fees to finance services for common
comfort, security and sanitation may be collected only by _______
a. a properly organized homeowners’ association
b. property manager
c. zone leader
d. barangay official

187. The Act allowing the long term lease of private lands by
foreigner investors
a. RA 8974
b. RA 7652
c. RA 6732
d. RA 6657
e. RA 3844

188. Under absolute community of property, which property is excluded

from the community property.
a. property exclusively owned by husband before marriage
b. property bought during the marriage
c. property inherited to only one spouse during marriage
d. property inherited before the marriage

189. A contract that transfers possession but not ownership of

property
a special warranty deed
b Easement
c Option
d Lease

190. Defined as the inscription, recording, or annotation of an act

and contracts resulting to the ownership of and rights over land
a. Land registration
b. Land documentation
c. Land Legislation
d. Land Titling

191. These are the requisites of a marriage settlement to be valid,

except
a. made before the celebration of marriage
b. in writing duly signed by the parties
c. registered in the local civil registry and the registry of deeds
d. governed by Philippine laws regardless of the place of the
celebration of marriage and their residence

192. Adam Smith believes in

a. Laissez-Faire policy
b. government guidance to influence the economy
c. command economy
d. socialist state

193. In 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. Salesperson
c. Developers employee
d. Owner or principal
e. Only A and B

194. 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

195. The most accurate basis for Residential and Commercial

Condominium Projects’ minimum building parking slot requirement shall
be:
a. 1:4
b. National Building Code of the Philippines and recent amendments
c. 1:6
d. 1 parking slot per 1 condominium unit

196. How many hectares/sqm required before a subdivision can be said

the specific land area is phase based on PD 957?
a. 10,000 sqm c. 100,000 sqm
b. 50,000 sqm d. 1 hectare

197. Vynz Realty developer has 12 hectares to develop, the land

allocation for saleable portion is:
a. 100,000 sqm
b. 84,000 sqm
c. 36,000 sqm
d. 50,000 sqm

198. If it’s a Transfer Certificate of Title (TCT), it should

indicate
a. “Judicial Form No. 108-D”
b. “Judicial Form No. 109-D”
c. Serial Number Labe in Red color
d. “Cancelled by virtue of conveyance”

199. If it’s an Original Certificate of Title (OCT), it should

indicate ______________ at the topmost.
a. “Judicial Form No. 108-D”
b. “Judicial Form No. 109-D”
c. Serial Number Labe in Red color
d. “Cancelled by virtue of conveyance”
200. According to the latest NBC, Building Height Limit is “the
maximum height to be allowed for buildings and shall be generally
measured from the established grade line to the topmost portion of
the proposed building/structure. The said limit may be subject to
clearance requirements of the Civil Aviation Authority of the
Philippines (CAAP) or the concerned military/security authorities.
Height limit is expressed as the number of allowable storey’s/floor
above:

a. established grade only

b. highest grade only
c. established grade and/ or meters above highest grade
d. none of the above

*** END OF PROFESSIONAL PRACTICE PART OF MOCK EXAM ***