PART-I: General /Fundamentals (1 hr and 20 minutes)
1. 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 Boards
2. 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
3. Who is the Chairman and First President of PAPRB? a. Eduardo Gomez-Ong b. Eduardo Gutierez-Ong c. Eduardo Golez-Ong d. Eduardo Gaspar-Ong, DBA, DPA, PhD
4. 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 5. 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% 6. The process of acquiring private property for public use is called? a. Condemnation b. Eminent Domain c. Escheat d. Police Power 7. 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 8. 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
9. The right of government to regulate land use for the public good. a. Escheat b. Eminent domain c. Police power d. Taxation
10. Acquisition of private land by the government for public use could be undertaken thru the following procedures, except a. Negotiated sale or purchase c. Exchange or barter b. Condemnation d. Foreclosure 11. 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
12. 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 13. A fee simple interest in a property is an example of: a. Real Property c. Personal property b. Real Estate d. Emblement
14. 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 c. Pledge b. Hypothecation d. Antichresis
15. 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
16. An act strengthening and amending some provision of the Comprehensive Agrarian Reform Law a. RA 6657 c. RA 9225 b. RA 9700 d. RA 6552
17. Public and private agricultural land is excluded from CARP when it has a slope or gradient of: a. Nine percentage c. Eighteen Percentage b. Twelve percentage d. Fifteen percentage 18. 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
19. 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.
20. A loan or promissory note that is secured by the real estate. a. Lease b. Mortgage c. Lien d. Chattel
21. A trespass on anothers land is a from of a / an a. Easement b. Encroachment c. Mortgage d. Restriction
22. 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
23. 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
24. 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 c. 1,000,000 b. P 300,000 d. 200,000 25. 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. P1.9 million; P3.2 million c. P2 million; P3 million d. P3 million; P5 million 26. 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 c. Relation to the Client b. Relation to the Public d. Relation to Fellow Practitioners 27. How many members of the Professional Regulatory Board shall represent the government assessors and appraisers who are in active government service? a. Three (3) c. Five (5) b. Two(2) d. One (1) 28. 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% c. 65% b. 60% d. 50% 29. 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 licensees birthdate c. Every three years d. Issued a new one after three years 30. 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 c. Real estate assessor b. Real estate broker d. Real Estate Salesperson
31. All of the following areas of regulation affect appraisers except a. PRC b. LGU Planning Office c. DTI d. Register of Deeds
32. When is the date of signing of the Real Estate Service Act a. 29 June 2009 c. 29 July 2010 b. 29 July 2009 d. 29 July 2011
33. Section 6 of Article I - Declaration of Principles of the National Code of Ethics for Real Estate Service Practitioners clearly states the GoldenRule 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"
34. 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 c.Relation to the Government b. Relation to the Public d. Relation to the Client 35. 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
36. 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 c. Pactum Commissorium b. Pacto de Non-Alienado d. Tacita Reconducta
37. The owner of a house and lot agreed to lease his house to the lessee who paid the deposit and the initial months rent; however, the agreement was not written in the contract of lease. The lease is a. Inexistent c. Valid b. Unenforceable d. Void
38. 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 39. 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. 40. One broker should have a. at least 20 RES b. at most 20 RES c. minimum 20 RES d. less than 20 41. REIT assets must be fully validated at least ______ by an independent appraiser/valuer duly accredited by the SEC:
a. Once a year c. Once every three years b. Once every two years d. Once every five years
42. 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.
43. 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-exampt on sale/exchange/transfer of securities
44. The REIT that derives its income principaly from income- generating properties is called: a. Hybrid REIT c. Equity REIT b. Mortgage REIT d. Finance REIT
45. 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 c. Development Permit b. Subdivision Plan d. Environmental Clearance
53. Urban Development and Housing Act (UDHA) of 1992. a. R.A. 7279 c. R.A. 9279 b. R.A. 7927 D. R.A. 7972
46. 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 c. socialized housing b. Low cost housing d. economic housing
47. 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
48. 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 c. Ad valorem tax b. Idle Land tax d. Special Education Fund tax
49. The idle land tax for idle land located in the province shall be at the rate: 7 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
50. 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 c. P750,000 b. P350,000 d. 550,000
51. 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% c. 0.75% b. 0.50% d. 1.00%
52. 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 c. Eight b. Six d. Ten 53. 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 c. Once every 10 years b. Twice every 10 years d. Once every 5 years
54. 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 c. Selling price of the sale b. Zonal value d. Assessors value
55. The maximum assessment level of a condominium residential building is: a. 40% c. 60% b. 50% d. 80% 56. Under RA 7160, the share of a barangay in a province in the proceeds of real estate taxes is: a. 20% c. 30% b. 25% d. 35%
57. Under RA 7160, the share of a municipality in Metro Manila in the proceeds of real estate taxes is: a. 30% c. 40% b. 35% d. 45%
58. 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
59. 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 c. third year b. second year d. fourth year
60. 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 61. Who is the chairman of PRC?
a. Teresita R. Manzalala b. Teresita R. Mananzala c. Teresita Q. Manzala d. Teresita Manzala 62. Professional week is held in what week in October?
a. 2 nd
b. 3 rd
c. 4 th
d. 1 st
63. Before the RESA, the code of ethics under DTI was referred to as: a. National Code of Ethics b. National Code of Ethics for Real Estate Service c. National Code of Ethics for the Realty Service Practice d. National Code of Ethics and Responsibilities
64. 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% 65. 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 circumtances 66. 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 assessors value whichever is higher d. whether the house and lot is new or old
67. Among the listed land classifications, which is devoted principally for activities as capital investment? a. agricultural b. commercial c. Residential d. Industrial 68. 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 69. 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 70. 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
71. Filipino citizens can acquire by patent agriculturallands of the public domain not exceeding: a. Ten hectares b. Twelve hectares c. Five Hectares d. three Hectares 72. Legitime is _____________. a. compulsory heirs b. mother and father of the deceased including wife/husband and siblings c. Illegitimate Children d. all heirs 73. 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
74. 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% 75. Angelica, a Filipina married a French citizen last 2008 May and would like to buy a parcel of land in Muntinlupa City. She may acquire with an area not to exceed a. 1 hectare c. No limit b. 5,000sqms d. 3 hectares 76. 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
77. 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
78. 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
79. 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
80. 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 Assessors 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 81. 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 c.Buy and Sell business b. Agriculture purposes d. Put up a plant Note: R.A. 8179 82. 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
83. Who is the new president of PhilRES ,the accredited AIPO of PRC- PRBRES? a. Rodolfo Valencia b. Ariel Martinez c. Pilar Banaag d. Rodolfo Vasquez 84. In what month where most dollars are deposited in the Philippines? a. December b. March c. June d. April
85. 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
86. MACEDA Law is what RA#? a. RA 6552 b. RA 6655 c. RA 7655 d. RA 6635
87. 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
88. Capital property constitutes the property of ___________. a. husband b. wife c. husband and wife d. parents
89. What is the executive order number of Family Code of the Philippines? a. EO 209 b. EO 210 c. EO 208 d. EO 202
90. An Act Authorizing the issuance of free patents to residential lands: a. RA 10023 b. RA 10025 c. RA 10250 d. RA 9900
91. Anti-Red tape act of 2007 is a. RA 9194 b. RA 9225 c. RA 9485 d. RA 9700
92. 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.
93. 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 94. 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
95. The color of service of Real Estate Service profession is
a. Blue b. Red c. Yellow d. Green 96. Represent agricultural produce in the logo of PRBRES?
a. Land and trees b. Land and fruits c. Trees only d. Trees and the fruits
97. When Real Estate Service practitioners resigned from the company how many days where the company should informed the PRC-PRBRES? a. 15 working days b. 15 days c. 30 days d. 20 working days
98. 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
99. One of the powers of the PRBRES are, except: a. Conduct licensure examinations b. Assess and fix rate of reasonable regulatory fees c. adopt a national code of ethics and responsibilities issued by different real estate organizations d. administer oaths and affirmations
100. 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. Quarterly accomplishments
---END--- WARNING: FAILURE TO SUBMIT YOUR TEST QUESTIONS COMPLETE SET WILL CAUSE THE CANCELLATION OF YOUR TEST RESULTS FOR THE SUBJECT.
Prepared by:
ROLANDO A. DARAQUIT, JR., REA, REB, MBA Real Estate Broker PRC License # 0014558 Real Estate Appraiser PRC License # 0004579 Member, Davao Board Education Committee Member-PAREB-Davao Board of Realtors Foundation, Inc. c/o Pag-IBIG Fund Davao Branch email add: propertydavao@rocketmail.com mobile number:09215747966/09076227087