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PAREB-GENERAL SANTOS-SARANGANI REAL ESTATE BOARD, INC.

Comprehensive Real Estate Seminar (CRES) For Real Estate Brokers


November 2015 - January 2016
Module I Mock Exams
I. RESA R.A. 9646 and NATIONAL CODE OF ETHICS
1. Republic Act No. 9646 is known as the :
a. Real Estate Practice Act of the Philippines
b. Real Estate Service Act of the Philippines
c. Professional Regulatory Board of Real Estate Service
d. Real Estate Service Association of the Philippines
2. A holder of a relevant bachelors degree from a state university or college, or other educational
institution duly recognized by the CHED maybe qualified for real estate board examination
provided that he has completed at least:
a. 120 credit units of real estate subjects and training
b. 60 credit units of real estate training
c. 60 credit units of field real estate training
d. 12 units of real estate seminar
3. The revocation or suspension of the Certificate of Registration and Professional Identification
Card or Cancellation of Special or Temporary Permit of a real estate practitioner may be given by
the Board on any of the following instances except:
a. When charged for estafa before a regular court
b. Unprofessional or unethical conduct
c. Procurement of a certificate of registration and/or professional identification card or
special temporary permit by fraud or deceit
d. Malpractice or violation of any of the provisions of R.A.9646, the IRR and the
Code of Ethics and Responsibilities
4. No real estate broker or salesperson shall engage in the selling of subdivision lots or
condominium unit unless;
a. He has registered himself with PRC
b. He has registered himself with the HLURB
c. He has registered himself with (HUDCC) Housing and Urban Development Coordinating
Council
d. a & b
5. It refers to the national integrated organization of a natural person duly registered and licensed
as real estate service practitioner:
a. Integrated and accredited professional association
b. Accredited and integrated professional association
c. Accredited and integrated professional organization
d. Interim accredited professional organization

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6. Is the date of effectivity of the Real estate Service Act (RESA) under R. A. 9646.
a. August 30, 2009
b. July 30, 2009
c. June 30, 2008
d. July 30, 2008
7. Is the amount of professional indemnity insurance / cash or surety bond for all real estate
brokers and real estate appraisers.
a. P20,000.00
b. P40,000.00
c. P10,000.00
d. P5,000.00
8. Ms. Segurista, a licensed real estate broker was found guilty of violating R.A. 9646 for
employing and utilizing the services of Mr. Maagap, real estate salesperson who has not secured
the required accreditation from the Board. How much would be the fine/penalty or
imprisonment of Ms. Segurista?
a. P100,000.00 fine or no less than 1 year imprisonment or both fine and imprisonment
b. P100,000.00 fine or no less than 4 years imprisonment or both
c. P100,000.00 fine or no less than 2 years imprisonment or both fine and imprisonment
upon the discretion of the court
d. P200,000.00 fine or no less than 4 years imprisonment or both fine and imprisonment
upon the discretion of the court.
9. Mr. Maagap also violated the IRR / RESA, his penalty shall be:
a. P200,000.00 fine or no less that 4 years imprisonment or both fine and imprisonment
upon the discretion of the court.
b. P100,000.00 fine or no less than 4 years imprisonment or both fine and imprisonment
c. Imprisonment of 6 years only
d. Doubling the P200,000.00 fine only.
10. The following are the real estate practitioners except:
a. Real estate commissioner
b. Real estate broker
c. Real estate appraiser
d. Real estate consultant
11. A real estate practitioner who must be accredited by the Professional Regulatory Board of
Real Estate Service.
a. Real Estate Salesperson
b. Real Estate Broker
c. Real Estate Appraiser
d. Real Estate Consultant
12. What rating should an applicant obtain to pass the Real Estate Brokers Licensure
Examination?
a. An average of at least 75% in all subjects, with no rating below 50% in any subject.
b. An average of at least 70% in all subjects
c. An average of at least 70% in all subjects, with no rating below 65?\% in any subject
d. None of the above
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13. When can the Board refuse registration to a sucessful examinee? If the successful examinee
has been:
a. Convicted by a court of competent jurisdiction of any criminal offense involving moral
turpitude
b. Found guilty of immoral or dishonorable conduct after investigation of the Board
c. Found to be psychologically unfit
d. Any of the above
14. Under the corporate practice of the real estate service there shall be one licensed real estate
broker for every _________ accredited real estate salesperson.
a. 20
b. 15
c. 10
d. 30
15. Refers to 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 consultant
b. Real estate appraiser
c. Real estate assessor
d. Real estate broker
16. The composition of the Professional Regulatory Board of Real Estate Service, under the
supervision and administrative control of the Professional Regulation Commission (PRC) shall
be:
a. One (1) chairman and three (3) members
b. One (1) chairman and four (4) members
c. One (1) chairman and five (5) members
d. One (1) chairman and two (2) members
17. Is 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 Regulatory Board of Real Estate Service
a. Professional Regulation Commission
b. Accredited and Integrated Professional Organization
c. Phillippine Association of Real Estate Boards
18. Goody Corporation hired the services of Happy Pers, a licensed Real Estate Broker on
commission basis to perform real estate services like finding a property they like to buy for GC.
Subject to the provisions of the Labor Code what is Happy Pers of the corporation.
a. Independent contractor
b. Employee of Goody Corporation
c. Both a & b
d. None of the above
19. A duly registered and licensed natural person who, for a professional fee, compensation or

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other valuable consideration, performs or renders, or offers to perform services in estimating and
arriving at an opinion of or acts as an expert on real estate values, such services of which shall be
finally rendered by the preparation of the report in acceptable written form.
a. Real estate broker
b. Real estate appraiser
c. Real estate consultant
d. Real estate dealer
20. An applicant must have a minimum of how many years of experience as a licensed real estate
appraiser to qualify for real estate consultant examination?
a. 10 years
b. 5 years
c. 15 years
d. 6 years
21. The professional identification card shall be renewed every _______ years and upon
satisfying the requirements of the board such as, but not limited to attendance in the:
a. 3; CEP program
b. 3; CPD program
c. 3; CRES program
d. 3; CPE program
22. The revocation or suspension of the Certificate of Registration and Professional Identification
Card or Cancellation of special or Temporary Permit of a real estate practitioner may be
given by the Board on any of the following instances except:
a. When charged for estafa before a regular court
b. Unprofessional or unethical conduct
c. Procurement of a certificate or registration and/or professional identification card or
special or temporary permit by fraud or deceit
d. Malpractice or violation of any of the provisions of R.A. 9646, the IRR, and the Code of
Ethics and Responsibilities
23. The symbol in the official seal of PRB RES that represents real estate.
a. Structures
b. Land
c. House and lot
d. Raw lands
24. The symbol in the official seal of Professional Regulatory Board of Real Estate Service that
represents the vital role of the real estate service practitioners in the social, political, economic
development and progress of the Philippines
a. Trees and fruits
b. Green lines
c. Suns and rays
d. Rising sun
25. Represents ethical standards and prosperity.
a. Gold
c. Trees and fruits
b. Suns and rays
d. Green lines
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26. Which of the following acts can be considered to be unethical for a real estate broker?
a. The broker should cooperate with other brokers on property listed.
b. The broker should share the commission on an agreed basis.
c. The broker should seek no unfair advantage over his fellow brokers.
d. The broker can use the services of the salesperson of the other brokers provided he pays
the salesperson a commission.
27. Renewal of the Professional Identification Card of a real estate practitioner requires
completion of at least ____________ for three years or every renewal thereof.
a. 45 credit units
b. 60 credit units
c. 12 credit units
d. 30 credit units
28. The Real Estate Broker should indicate the license number of the certificate issued by the
Professional Regulation in relation to the realty service practice. This is under:
a. Relation to the government
b. Relation to the public
c. Relation to the client / customer
d. Relation to the fellow practitioners
29. The Golden rule reads:
a. Do not do unto others what you do not want others do unto you.
b. Treat others as you like them not to treat you.
c. Do not treat others as you do not like them to treat you.
d. Do unto others as you would have them do unto you
30. An accredited real estate salesperson must be under the supervision of the real estate broker
and should indicate
a. Name and licensed number of the broker
b. Email address of the broker
c. The website of the broker
d. HLURB number of the broker
31. Which is not in the declaration of principles in the Code of Ethics?
a. Impartiality
b. Knowledge, competence and expertise
c. Golden rule
d. Professional and respectful relationship with colleagues
32. Ms. Agnes Acosta, a real estate broker never in her real estate career became a party to the
naming of a false consideration in a deed of instrument. She always sees to it that she follow the
rules of conduct and practice, in this case, her
a. Relation to the government
b. Relation to the public
c. Relation to the clients
d. Relation to the fellow practitioners
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33. Practitioner shall be deemed engaged in the practice of real estate service profession within
the meaning and intent of R.A. 9646 and it rules and regulations if he/she:
a. Maintains a regular office for the practice of the profession as a registered real estate
service professional.
b. Indicates the license number issued by the Commission as indicated in the Certificate of
Registration, professional identification card number, PTR number, the day it was
issued and the validity thereof in the documents he/she signs or issues.
c. Live and cooperate in upholding the integrity and honor of the profession at all times by
not doing unethical and unprofessional conduct and practices that will discredit and
injure the real estate profession.
d. All of the above
34. An applicant must have a minimum of how many years of experience as a license real estate
appraiser to qualify for a real estate consultant examination?
a. 10 years
b. 5 years
c. 12 years
d. 13 years
35. Which among the following does not belong to the real estate service profession?
a. Real Estate Appraiser
b. Real Estate Broker
c. Real Estate Developer
d. Real Estate Salesperson
36. Assuming that the Real Estate Broker (REB) is renewing his Professional Identification Card
every three years, the CPD units are requirements to renew the professional ID
a. Every 3 years
b. Every year
c. Every 5 years
d. Every 2 years
37. When engaging the real estate brokerage practice, the real estate broker must obtain and
secure a
a. License from DTI
b. License from PRBRES
c. License from PRC
d. License from HLURB
38. In order that a candidate may be deemed to have successfully passed the examination, he/she
must have obtained _____________ in all subjects, with no rating below 50% in
______________.
a. An average of at least 75%; any subject
b. An average of at least 75%; any one subject
c. An average of at least 75%; all subject
d. An average of at least 75%; almost all subject

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39. An applicant for real estate appraisers licensure examination must have at least how many
years of experience as a licensed real estate broker to qualify for the licensure examination?
a. 5 years
c. 9 years
b. 7 years
d. 0 year
40. In order to be admitted to the licensure examination for real estate service a candidate at the
time of filing his her application shall establish to the satisfaction of the Board that he / she has
completed _____________ of real estate subjects and training from ___________________.
a. 120 credit units; accredited service provider
b. 60 credit units; accredited service provider
c. 45 credit units; accredited service provider
d. 12 credit units; accredited service provider
41. Under R.A.9646, who are the duly licensed and registered real estate service practitioners?
a. Real Estate Broker, Real Estate Appraiser, Real Estate Salesperson, Real Estate
Consultant
b. Real Estate Broker, Real Estate Appraiser, Real Estate Consultant, Real Estate Assessor
c. Real Estate Salesperson, Real Estate Broker, Real Estate Consultant, Real Estate
Appraiser, Real Estate Assessor
d. Real Estate Broker, Real Estate Salesperson, Real Estate Assessor, Real Estate Appraiser
42. In R.A. 9646, real estate refers to ______________________________.
a. Land and anything which are attached to the land with all additions or improvements on, a
bove or below the ground.
b. Land and anything including its tangible and physical entity with all additions or
improvements on, above or below the ground.
c. Land and anything which are attached to the land including its tangible and physical entity
with all additions or improvements on, above or below the ground.
d. Anything which are attached to the land including its tangible and physical entity with all
additions or improvements on, above or below the ground.
43. Under R.A.9646, the penalty imposed on violations committed by unlicensed individual is:
a. P100,000 or 2 years imprisonment
b. P200,000 or 4 years imprisonment
c. P100,000 or 4 years imprisonment
d. P200,000 or 2years imprisonment
44. The Continuing Professional Development Program or activity accreditation must be filed to
the CPD Council at least ______________ days prior to the conduct thereof.
a. Thirty (30)
b. Fifteen (15)
c. Twenty (20)
d. Forty five (45)
45. An official of the local government unit, who performs appraisal and assessment of real
properties including plants, equipments and machineries essentially for taxation purposes.
a. Appraiser or Valuer
b. Assessor or Assistant Assessor
c. Certified Public Valuer
d. Assessors field inspector
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II. FUNDAMENTALS OF PROPERTY OWNERSHIP & OTHER REAL ESTATE LAWS


(FAMILY CODE, AGRARIAN REFORM, CARP/CARPER)
46. Provides that the property owners are bound to use or utilize their lands in a manner that will
promote welfare and benefits not for themselves but also for the State. Also define as a principle
of ownership which mandates the property owners to use their properties in a manner that will
promote public interest for the general welfare.
a. Stewardship principle
b. Foreshore Lease
c. Certificate of Land Ownership Award
d. Regalian Doctrine
47. Is an independent and general right of the person to control a property or thing particularly in
his possession, disposition and recovery subject to no restrictions; except those imposed by the
State or private person or by the law.
a. Ownership
b. Co-ownership
c. Solutio indebti
d. Sole ownership
48. Is defined as any unknown deposit of money, jewelry and other precious objects, the lawful
ownership thereof is unknown. Its ownership belongs to the owner of the land, building or other
property on which it is found.
a. Sequestered Treasure
b. Hidden Treasure
c. Time deposits
d. Bundle of rights
49. One of the three-set jewelry collection seized from the Marcoses after the family fled to
Hawaii following the Edsa People Power Revolution in 1986 is a neckpiece from the
Rommeliotes collections described as an extremely rare pink diamond believed to be previously
owned by a Mogul Emperor and worth at least:
a. $5M
b. $10M
c. $20M
d. $235M
50. The auction house Appraiser who is currently conducting an appraisal of the jewelry and other
jewelry collections seized from the family of the late dictator, Ferdinand Marcos in 1986.
a. David Warren
b. Christies
c. Sothebys
d. Central Bank of the Philippines
51. Is a doctrine whereby the owner or lawful possessor of the property has the right to exclude
any person from the enjoyment and disposal thereof. And for his purpose may use force as
reasonably necessary to prevent actual or threatened unlawful physical invasion or usurpation of
his property.
a. Acion Reinvindicatoria
c. Regalian Doctrine
b. Doctrine of self-help
d. Personal Right
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52. Teria Fatima, found a hidden treasure inside the land of Larrie King, Teria is leasing for two
(2) years already. How will the treasure be divided since Teria Fatima is only the lessee of the
land?
a. Teria Fatima is entitled to only one-half (1/2) of the hidden treasurer.
b. Teria Fatima is not entitled to any share of the treasure because she is not the owner of
the land.
c. Nobody is entitled to any share because it is the states treasu
d. None of the above

53. Refers to the right of a land owner to everything which is produced by the land or which is
incorporated or attached thereto whether naturally of artificially. It is also define as the increase or
addition of land by the deposit of land and soil washed naturally from rivers, lake or sea.
a. Alluvium
b. Accession
c. Accession discreta
d. Accession continua
54. In real estate, the increase of the actual land on a stream, lake or sea by the action of water
which deposits soil upon the shoreline.
a. Accretion
b. Accession
c. Avulsion
d. Replevin
55. Ms. Mahinhin will get married this year and will enter into a prenuptial agreement with
agreement on complete separation of property regime. What will be their property relations
after marriage?
a. Conjugal property of gains
b. Separation of property
c. Absolute community of property
d. Co-ownership
56. When soil is deposited through the gradual deposit by the flowing of a river in the property
along the river, the deposited soil is called.
a. Avulsion
b. Alluvium
c. Accretion
d. River bed
57. An owner is said to be an owner in fee simple, which means that the owner
a. Has a certificate of title
b. Has the bundle of rights
c. Has the rights to sell the property
d. Has bought the property
58. Juana, a natural born Filipino migrated to the United States and became an American citizen
but now wants to do business in the Philippines and acquire land in Bonifacio Global City.
What is the maximum area that Juana can purchase?
a. 1,000 square meters
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b. 3,000 square meters


c. 5,000 square meters
d. 1 hectare
59. The sole property of the husband is called:
a. Conjugal property
b. Capital property
c. Community property
d. Separate property
60. The family code that now governs the property relations between married people after the
New civil code became effective.
a. August 8, 1993
b. August 3, 1998
c. August 3, 1988
d. August 8, 1990
61. Mang Pepito occupied a parcel of agricultural land way back in 1952 under adverse and
continuous possession. He may acquire title to the land if he was in good faith if he has been in
possession for at least:
a. 10 years
b. 20 years
c. 25 years
d. 50 years
62. Kenneth Ray West, an American, wanted to buy a pice of land in Taguig City and to be able
to do so he will have to form a corporation with a minimum Filipino ownership of the outstanding
capital stock of at least:
a. 60%
b. 40%
c. 50%
d. 41%
63. A corporation engaged in the corn business wanted to expand its plantation of corn and
would like to lease more land from the government, but it can be done provided the maximum
area does not exceed:
a. 5 hectares
b. 500 hectares
c. 1,000 hectares
d. 5,000 hectares
64. It is the mode or means of acquiring land title by adverse possession; due to actual, open
continuous and uninterrupted possession for a certain period of time in the concept of an owner.
a. By prescription
b. By inheritance
c. By involuntary grant
d. By public grant
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65. Is that land that abuts or adjoins a public road or highway which is blocking the land behind
dominant estate. It also refers to a parcel of land through which a right of way is granted in
favor of an adjoining land.
a. Dominant estate
b. Servient estate
c. Easement
d. Right of way
66. Is a real right by virtue of which a person is given the right to enjoy the property of another
with the obligation of preserving its form and substance, unless the title constituting it or the law
provides otherwise.
a. Usufruct
b. Causion Juratoria
c. Right of way
d. Donation
67. Refers to the compulsory successional rights granted by law and the same cannot be taken
by anybody except when alienated during the lifetime of the Testator with consideration. The
rights of succession are transmitted from the moment of the decedents death.
a. Inheritance
b. Succession
c. Legitime
d. Donation
68. Zoning is an exercise of the _________________ of the State.
a. Eminent domain
b. Police power
c. Public grant
d. Right of way
69. A Filipino citizen may acquire by patent agricultural land in the Philippines not exceeding

____________________:
a. 12 hectares
b. 5 hectares
c. 3 hectares
d. 10 hectares
70. It refers to the redistribution of lands, regardless of crops or fruits produced, to
farmers and regular farmworkers who are irrespective of tenurial arrangement, to include
the totality of factors and support services designed to lift the economic status of the
beneficiaries.
a. Agricultural lands
b. Agrarian Reform
c. CARPER
d. RA # 9700
71. Is the act instituting a Comprehensive Agrarian Reform Program to promote social
justice and industrialization.
a. R.A. 9646
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b. R.A. 6657
c. R.A. 6567
d. R.A. 6756
72. The retention limits of land area under CARP for landowner should not be more than
a. 3 hectares
b. 12 hectares
c. 24 hectares
d. 5 hectares
73. The retention limits of land area under CARP for corporation on lease, management
power or service contract should not be more than
a. 500 hectares
b. 1,000 hectares
c. 12,000 hectares
d. 24 hectares
74. For foreign individuals on lease, management grower or service contract the land area
retention limits should not be more than :
a. 500 hectares
b. 1,000 hectares
c. 5 hectares
d. 24 hectares
75. Under the Family code which too effective on August 3, 1988, a husband owning a
capital property and/or a wife owning paraphernal property may retain not more than 5
hectares each provided :
a. They executed a judicial separation of properties prior to the marriage.
b. They bought the property during marriage.
c. The properties are gifts from their principal sponsors.
d. None of the above.
76. Are awarded land under CARP transferable? Beneficiaries may not sell, transfer or
convey lands awarded for a period of ten years, except:
a. Through hereditary succession
b. To the government or LBP
c. Other qualified beneficiaries
d. Any of the above
77. Lands awarded to agricultural tenant under the CARP cannot be converted for
non-agricultural use within ____________ from the grant of the emancipation patent.
a. 10 years
b. 5 years
c. 7 years
d. 15 years
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78. Lands in Metro Manila or national Capital Region are covered by the Urban Land
Reform Law when they are located :
a. Within 244 areas for priority development (APD) sites
b. Within 422 areas for priority development (APD) sites
c. Within 24 areas for priority development (APD) sites
d. None of the above
79. Transfer of awarded land from CARP is prohibited for a period of _______.
a. 5 years
b. 10 years
c. 1 year
d. 15 years

80. Under the Urban Land Reform Law (PD 1517) an area is considered urban when it
has a population density of at least ___________________ per square kilometer and
where at least ________ % of economically active resident are engage in non-agricultural
activities.
a. 2,000 residents ; 50
b. 1,000 residents; 65
c. 5,000 residents; 50
d. 500 residents; 50
81. Act strengthening the CARP and extending the acquisition and distribution of all
agricultural lands, etc.
a. R.A. 6657
b. R.A. 9700
c. R.A. 9070
d. R.A. 6576
82. Any farmer / tiller who owns less that 3 hectares of agricultural land.
a. Landowner of agricultural land
b. Landless beneficiary
c. Regular farmworker
d. Seasonal farmworker
83. The qualifications of the landowner children under CARP are:
a. At least 15 years old
b. Actually tilling the land or directly managing the farm
c. Have not acquired any land ownership
d. All of the above
84. Is the maximum period that a foreigner may lease a real estate.
a. 25 years
b. 50 years
c. 30 years

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d. 10 years
85. Is the reversion of private property to the State due to the intestate death of the owner who is
not survived by any legal heir.
a. Escheat
b. Eminent domain
c. Inheritance
d. Donation
86. One acquires ownership and other real rights through the lapse of time in the manner and
under the conditions laid down by law.
a. By acceptance of donation
b. By prescription
c. By succession
d. By inheritance
87. A condensed history of the title, consisting of a various links in the chain of title, together
with a statement of all liens, charges or encumbrances affecting a particular property.
a. Abstract of title
b. Acceleration clause
c. Title annotations
d. Technical descriptions
88. The rights of ownership whereby the owner has the right to enjoy, dispose, exclude others
and to recover.
a. Right of way
b. Bundle of rights
c. Cancellation rights
d. Right to fruits
89. The property that belongs exclusively to the wife.
a. Paraphernal property
b. Capital property
c. Inherited property
d. Purchased property using her exclusive funds
90. The property that belongs exclusively to the husband.
a. Paraphernal property
b. Capital property
c. Inherited property
d. Property purchased using his own funds
91. The grant of agricultural land to tenant-farmers in the implementation of the land reform
program of the government.
a. Emancipation patent
b. Land patent
c. Land title
d. Original certificate of title

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92. Is an act whereby a person is permitted to control certain degree of the disposition of the
decedent estate, which shall take effect after the decedents death under the formalities prescribed
by law.
a. Will
b. Inheritance
c. Succession
d. Donation
93. The right of the government to acquire property for necessary public or quasi-public use.
a. Eminent domain
b. Escheat
c. Police power
d. Estoppel
94. Absolute ownership.
a. Fee simple
b. Original certificate of title

c. Torrens title
d. TCT

95. Forestry Professional Act of 2015:


a. R.A. 10690
b. R.A. 9653

c. R.A. 10023
d. R.A. 7905

96. When a person speaks of the principle that all lands of the public domain belong to the State,
it is referred to as
a. Real estate ownership doctrine
b. Regalian doctrine
c. Roponggi property
d. Real Right
97. Under R.A.9700 CARP Extension of 2009, all of the following are covered by agrarian
reform except one.
a. Agricultural lands in the public domain still not alienated / disposed
b. Farms planted to cash crops such as sugar, tobacco, coconut palm
c. Social justice and emancipation of farmer from bondage to the soil
d. Economic size
98. Means that no person shall enrich himself at the expense of another.
a. Solutio Indebti
c. Jus possidendi
b. Succession continua
d. Jus vindicandi
99. The right of ownership limitations those given by the law:
a. Legal easement of waters, legal easement of right of way
b. Police power, power of taxation, power of eminent domain
c. Donor prohibits partition for a certain period of time
d. Owners cannot occupy the property he leases
100. Right to consume and also to transform or abuse.
a. Jus abutendi
c. Jus possedendi
b. Jus fruendi
d. Jus utendi
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III. GOVERNMENT ASSESSMENT PRINCIPLES, LOCAL TAXATION;


NATIONAL TAXATION BIR; AND OTHER REAL ESTATE LAWS
1. Is the inherent power of the State to impose and collect taxes for the purpose of defraying
government necessary expenses for public needs.
a. Taxation
b. Taxes
c. Zoning
d. Police power
2. Is a levy on real property determined on the basis of a fixed proportion of the value of the
property.
a. Income tax
b. Ad valorem tax
c. Real property tax
d. Value added tax
3. Is the price at which a property may be sold by a Seller who is not compelled to sell and bought
by a buyer who is not compelled to buy.
a. Selling price
b. Net selling price
c. Fair market value
d. Assessed value
4. _________________ is the value placed or applied on taxable property by the Assessor for ad
valorem tax purposes. It also refers to the fair market value of the real property multiplied by
the assessment level.
a. Fair market value
b. Assessment level
c. Assessed value
d. Under value
5. The basis of real property taxation is the ________________ and not the ownership thereof,
regardless of where located, whoever uses it and whether or not the owner is exempted from
taxes.
a. Actual use
b.Assessment level
c. Assessed value
d. Owner
6. Pursuant to the Local Gvernment Code (RA 7160), the LGUs in the provinces can impose real
property taxes at the rate:
a. Not exceeding one Percent (1%) of the assessed value (AV) of the real property
b. Not exceeding two (2) percent of the assessed value (AV) of the real property
c. Not exceeding 1 & a half (1.5%) percent of the assessed value of the real property
d. Not exceeding two & a half (2.5%) percent of the assessed value of the real property
7. 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. Special Education Fund Tax
c. Realty tax

b. Ad valorem tax

d. Documentary stamp tax

8. A property owner who is not satisfied or does not agree with the Tax assessment of the Assessor,
may file an appeal or protest with the Local Board of Assessment Appeals within ______ days
from the receipt thereof.
a. 30
b. 60
c. 120
d. 1 year
9. ______________ is a tax imposed on the sale, donation, barter or any other mode of
transferring real property ownership or title.
a. Transfer fee
b. Documentary stamp tax
c. Capital gains tax
d. Registration fee
10. The assessment level of residential land to be applied to the fair market value is
a. 20%
b. 40%
c. 60%
d. 50%
11. The practice of appraising multiple properties as of a given date by the systematic and
uniform application of appraisal methods and techniques.
a. Mass appraisal
b. Independent appraisal
c. Mass appraisal model
d. Assets valuation
12. The following property if one were to sell the same would be classified as a capital asset.
a. Office warehouse of a corporation
b. Lots sold by a developer
c. Vacation house of the owner
d. Condominium units sold to the public
13. Agricultural lands, more than one (1) hectare in area, suitable for cultivation, dairying, inland
fishery and other agricultural uses may be subject to idle land tax if it remains uncultivated or
unimproved by the owner or owner to the extent of
a. 100%
b. 1/4 of the land
c. 1/2 of the land
d. 60% of the land
14. A parcel of land was assessed as commercial at a rate of 45% with fair market value of
P2,300,000.00, although the zonal value is P3,000,000.00. What will be the assessed value?
a. P1,150,000.00
b. P1,500,000.00
c. P1,035,000.00
d. P1,350,000.00
Page 16

15. The assessment level of the improvements of a property owned by Ms. Lim will be based on
the classification and
a. Fair market value of the improvement of the assessor
b. Assessed value of the improvement of the assessor
c. Zonal value of the improvement
d. Declared value by the owner x tax rate
16. Mr. Capistrano failed to pay his real estate tax due for two years and he will be subject to a
penalty equivalent to a total of
a. 20%
c. 24%
b. 25%
d. 36%
17. In local taxation, real property shall be classified for assessment purposes on the basis of its
_________________ regardless of where the property is located, whoever owns it and whoever
uses it.
a. Zoning classification
b. Actual use
c. Actual use by the person in possession
d. Land use plan
18. The basic real property tax to be imposed by the Sangguniang Panlalawigan in a province
shall not exceed
a. 1% of the assessed value
b. 1% of the fair market value of the assessor
c. 2% of the assessed value
d. 2% of the fair market value of the assessor
19. A special levy is the special education fund tax which shall be at a rate of
a. Not exceeding 1% of the assessed value
b. 1% of the assessed value
c. 1% of the fair market value
d. Not exceeding 1% of the fair market value
20. To compute the basic realty tax, the owner will use the formula
a. Fair market value x tax rate
b. Assessed value x tax rate
c. Assessment level x tax rate
d. Fair market value x assessment levels
21. Is the act or process of estimating the value of a property as of a specific date for a specific
purpose. It is an estimate of opinion of value, usually market value or value as defined by the
appraiser.
a. Appraisal
b. Value
c. Thesis
d. Zonal valuation
22. The assessment level of timberland over 2,000,000 fair market value is:
a. 70%
c. 65%
b. 60%
d. 55%
Page 17

23. The real estate tax on the house and lot owned by Mr. & Mrs. Seguristas may be paid without
penalty in
a. 4 quarterly installments
b. Monthly payments
c. 2 semi-annual payments
d. 3 payments
24. All assessments or reassessments made after the 1st day of January of any year shall take
effect on ;
a. After the approval of the revised assessments or reassessments
b. 1st day of January of the year it was reassessed.
c. 1st day of January of the succeeding year
d. 30 days after the reassessment was approved
25. Elements of the assessment process that provides foundation of equity and uniformity in
realty taxation.
a. Assessment level
b. Classification of real property
c. Assessed value
d. Actual use of property
26. Roger did not agree with the assessment made by the assessor on his property. Roger may
appeal the same within what period?
a. 30 days from receipt of notice of assessment
b. 60 days from receipt of notice of assessment
c. 90 days from receipt of notice of assessment
d. 120 days from receipt of notice of assessment
27. The local government shall cause a notice of delinquency and thereafter the property sold at
public auction in case of
a. Unpaid delinquent real estate taxes
b. Under declaration of value
c. Payment under protest
d. Delinquent real estate taxes for at least 5 years
28. Effective 2012, a real estate broker shall be subject to VAT if the total income for the year
exceeds
a. 1,919,500.00
b. 3,199,200.00
c. 2,500,000.00
d. 1,500,000.00
29. In case of unpaid or delinquent taxes pursuant to the local government code, the local
government shall thereafter sell the property at public auction but with the right of the owner to
redeem the property within
a. 6 months from date of sale
b. 1 year from date of sale
c. 2 years from date of sale
d. 1 year from date of annotation of auction sale
Page 18

30. In payment of 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
31. A lot was sold located in Calapan City, Or. Mindoro, the owner who was residing abroad
wanted to pay the taxes on sale already although his local residence was in Manila and the buyer
in Quezon City. Where is the capital gains tax on the sale to be paid?
a. Quezon City
b. Calapan City, Or. Mindoro
c. Manila
d. BIR Head Office
32. Mr. Edwin sold his lot on November 5. He had the sale notarized on Nov. 7. Up to when
should Mr. Edwin pay the documentary stamps tax?
a. December 5
b. December 4
c. December 10
d. December 7
33. Agricultural lands, more than one (1) hectare in area, suitable for cultivation, dairying, inland
fishery and other agricultural uses may be subject to idle land tax if it remains uncultivated or
unimproved by the owner or owner to the extent of
a. 100%
b. 1/4 of the land
c. 1/2 of the land
d. 60% of the land
34. Persons who transfer ownership of their property to another have to notify the assessor within
a. 60 days from date of transfer
b. 30 days from date of transfer
c. 90 days from date of transfer
d. 6 months from date of transfer
35. In a sale of condominium unit the following information were gathered:
Value per Deed of Sale .......................................... P3,000,000.00
Zonal value of the condominium unit.................... P22,500.00 / sq.m.
Market value of condominium unit........................ P1,500,000.00
Assessor value of land where the condominium
Unit was built......................................................... P2,500/sq.m.
Zonal value of land where condominium project
Was built................................................................. P5,000/sqm.
Floor area of the condominium unit sold................ 150 sq.m.
Compute for the capital gains tax on the above transaction.
a. P202,500.00
b. P253,125.00

c. P202,005.00
d. P503,125.00

Page 19

36. Compute for the documentary stamp tax on the above transaction (#35 item).
a. P 202,500.00
c. P50,625.00
b. P 51,625.00
d. P53,125.00
37. An 800 sq.m. lot with a house was sold for P3,500,000.00 Per tax declaration, the fair
market value of the house is P1.5M and the lot is P1.6M. The zonal value of the lot is
P3,500.00 per square meter. The sale is subject to capital gain tax. Compute the tax
base.
a. P3,500,000.00
b. P4,300,000.00
c. P3,100,000.00
d. P1,600,000.00
38. How much is the capital gain tax?
a. P258,000.00
c. P250,000.00
b. P64,500.00
d. P322,200.00
39. How much is the documentary stamp tax ?
a. P64,500.00
c. P65,400.00
b. P66,500.00
d. P56,400.00
40. A 70-hectare agricultural land devoted to fishpond and with no zonal value was sold
by a broker at P120.00 per square meter as shown in the deed of sale. Asessors fair
market value for the lot per latest tax declaration is only P50.00 per square meter.
Compute the capital gain tax?
a. P5,250,000.00
c. P6,562,500.00
b. P2,550,000.00
d. P1,312,000.00
41. A deed of sale with mortgage was executed at the total price of P2Million of which
the sum of P600,000.00 was paid and the balance of P1,400,000.00 was secure by a
mortgage on the same property by the buyer. Compute the Documentary stamp tax on
sale.
a. P9,000.00
c. P36,000.00
b. P45,000.00
d. P9,500.00
42. The rate of creditable withholding tax in the sale of real property classified as
ordinary asset by an individual, estate, trust or corporation not habitually engaged in real
estate business is:
a. Three percent
c. Seven percent
b. Five percent
d. None of the above
43. The creditable withholding tax on the sale of a house and lot package by a developer
at the price of Two Million Pesos is:
a. 1.5%
c. 6%
b. 3%
d. 5%
Page 20

44. Based on net gifts, the maximum rate of donors tax is:
a. Ten percent
b. Fifteen percent
c. Twenty percent
d. Thirty percent
45. After payment of capital gains and documentary stamp tax a ___________________
is required from the Bureau of Internal Revenue prior to transfer of title.
a. Certificate Authorizing Registration
b. Official Receipt of CGT Payment
c. Endorsement to ROD
d. Computation of Transfer Tax
46. A standard deduction of _________________ in addition to deduction for family
home with a fair market value not exceeding P1Million is allowed as additional deduction
from gross estate for estate tax purposes beginning January 1996.
a. P500,000.00
b. P1,000,000.00
c. P50,000.00
d. P350,000.00
47. Under the Revenue Memorandum Circular No. 1-98, a corporation is now subject to
capital gains tax if it sold real estate classified as _____________________.
a. Commercial
b. Industrial
c. Ordinary
d. Capital Asset
48. Every real estate dealer liable to pay E-VAT shall file a quarterly return of his gross
sales or receipts within ___________ following the close of each taxable quarter.
a. 25 days
c. 30 days
b. 15 days
d. 60 days
49. The rate of withholding tax for socialized housing is ________________ ercent.
a. Zero
c. Three
b. Five
d. Tw
51. __________ is a tax imposed on gains presumed to have been realized by the seller
from the sale, exchange or other disposition of capital assets located in the Philippines,
including pacto de retro sales and other forms of conditional sale.
a. Capital gains tax
c. Documentary stamp tax
b. Income tax
d. Percentage tax
52. Payment of capital gains tax for capital assets due date is:
a. 30 days after date of document

Page 21

b. 5th day of the following month


c. Either a or b
d. None of the above
53. Under the Socialized Housing (RMC No. 36-2011) program how much should be the
price of the lot in the case of sale of lots only?
a. 40% of P400k
b. 50% of P150k
c. 40% of P160k
d. 60% of P400k
54. Socialized housing limit is
a. P150,000.00
b. P400,000.00
c. P450,000.00
d. P410,000.00
55. Donation to a stranger is subject to _______ tax based on Zonal Value or market
value whichever is higher.
a. 15%
c. 20%
b. 12%
d. 30%
56. A tax on the right of the deceased person to transmit his estate to his lawful heirs and
beneficiaries. It is not a tax on property.
a. Estate tax
c. Income tax
b. Creditable withholding tax
d. Donors tax
57. With the promulgation of RA 8424 which is the Comprehensive Tax Reform Program
of 1997 starting January 1, 1998, where the donee is a relative, the tax is based on the
graduated rates of ______ to _____________ of net gifts.
a. 0% to 15%
c. 0% to 30%
b. 1% to 10%
d. 0% to 0%
58. Hope donated portion of her property to her niece worth P2,000,000.00 on January 30,
2002. Compute the donors tax.
a. P124,000.00
c. P120,000.00
b. P104,000.00
d. P110,000.00
Note: Donors tax is within the bracket of over 1,000,000 but not over 3,000,000.00
plus 8% of the excess over 1,000,000.00
59. What properties are ordinary assets?
a. Properties constituting inventories for sale
b. properties used in connection with trade.
c. Properties used in connection with business or source of income
d. all of the above

Page 22

60. Refers to the actual residence of the decedent and his family at the time of death.
includes both the house and lot used as the dwelling place.
a. Family home
c. Permanent residence
b. Home for the aged
d. Temporary residence

It

61. The estate tax return shall be filed with the BIR within ______ days from death of
decedent.
a. 90 days
c. 180 days
b. 60 days
d. 1 year
62. Real estate service practitioners professional fees are subject to 12% VAT effective
last
a. February 1, 2006
c. February 1, 2008
b. February 1, 2007
d. February 1, 2009
63. As provided for by R.A. 8424 on Tax Reform Act of 1997, the capital gains tax is 6%
and an exemption from it can be availed when the sellers proceeds from his principal
residence sold will be used to buy anew or construct a one within _________________.
a. One (1) year
c. 18 months
b. 16 months
d. 1 year and 8 months
64. What document shall be executed in availing an exemption on the payment of capital
gains tax on the sale of a principal residence?
a. Capital gains tax BIR form
b. Promissory note
c. Affidavit of no improvement
d. Escrow agreement
65. The annual property tax on a parcel of land you are valuing 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. P250,000.00
c. P750,000.00
b. P350,000.00
d. P550,000.00
66. Under Republic Act 7160, how much is the share of each barangay from the total
proceeds of real property tax (RPT).
a. 25% for barangays in provinces, and 15% for barangays in cities and in Metro
Manila
b. 20% for barangays in provinces, and 10% for barangays in cities and in Metro
Manila
c. 30% for barangays in provinces, and 20% for barangays in cities and in Metro
Manila
d. 35% for barangays in provinces, and 25% for barangays in cities and in Metro
Manila
Page 23

67. The retention limit under CARP for the land owner children:
a. Land area of not more than three (3) hectares per child
b. Land area of not more than 5 hectares
c. Land area of not more than 12 hectares
d. land area of not more than one (1) hectare
68. A 500 sq.m. lot was bought by the owner at P2,200,000.00 and then was sold at a
selling price of P2,500,000.00. A check with the BIR, however, showed that the zonal
value was P6,000 per square meter and the fair market value of the city assessor valued
the lot at P2,300,000.00 while a real estate appraiser appraised the lot at P2,800,000.00
what will be the basis of the capital gains tax?
a. P2,300,000.00
b. P2,500,000.00
c. P2,800,000.00
d. P3,000,000.00
69. Under the new BIR ruling, acquired assets of banks regardless of amount are subject
to the creditable withholding tax of:
a. 3.0%
c. 5.0%
b. 6.0%
d. 7.5%
70. In case of foreclosure sale where the right of redemption is not exercised by the
mortgagor, who pays the capital gains tax?
a. Owner-mortgagor
b. Buyer of the property
c. Creditor-bank
d. Redeemer
71. In case of socialized housing, the ceiling for the value of the lot as per the BIR is
a. P400,000.00
b. P225,000.00
c. P160,000.00
d. P100,000.00
72. In a sale of a house and lot, the basis of the tax for the improvements shall be based
on:
a. BIR zonal value
b. Fair market value in the tax declaration
c. Assessed value in the tax declaration
d. Value declared as selling
73. An owner will rent out a residential apartment this year and will be exempted from
VAT provided the monthly rent does not exceed
a. P5,000.00
c. The value A
b. P10,000.00
d. P12,000.00
Page 24

III.

OTHER REAL ESTATE RELATED LAWS:

74. Quarterly payments of real property tax can be paid on the following due dates:
a. March 30, June 30, September 30 and December 31
b. March 31, June 30, September 30 and December 31
c. March 31, June 30, September 30 and December 31
d. March 30, June 30, September 30 and December 30
75. Real property taxes discount if paid on or before January 31 of the current year is
a. 20%
c. 25%
b. 15%
d. 10%
76. What is the law that allow former natural born Filipino citizens to own land for
residential purposes?
a. BP 185
c. PD 27
b. RA 8179
d. RA 7160
77. The agency under the Department of Environment and Natural Resources (DENR),
responsible for administering, surveying and disposing alienable and disposable (A&D)
lands and other government lands not placed under the jurisdiction of other government
agencies.
a. DENR Records Division
c. Lands Management Bureau (LMB)
b. DAR
d. HLURB
78. Under BIR Revenue Regulation 17-2003, the seller of family home who failed to
utilized the proceeds to acquire a new residence within 18 months from the sale be
assessed additional deficiency capital gains tax inclusive of penalties and:
a. 10% per annum
c. 20% per annum
b. 15% per annum
d. 25% per annum
79. An act empowering the agriculture and fisheries sectors to develop and sustain
themselves.
a. R.A. 8435
c. R.A. 9646
b. R.A. 8325
d. R.A. 6657
80. Urban land reform
a. R.A. 1517
b. R.A. 5171

c. R.A. 1751
d. R.A.1175

81. An act of determining the value of the property.


a. Assessment level
c. Assessment
b. Fair market valuing
d. Accounting
82. Assessment levels for lands with existing building of mixed uses will be based on the
a. Predominant actual use of the building
b. land as classified in the zoning
Page 26

c. both a and b
d. none of the above
83. Real property classified as agricultural or timberland assessment level is
___________ of the fair market value.
a. 20%
c. 50%
b. 40%
d. 10%
84. Assessment level on building and other residential structures over P10,000,000 is :
a. 60%
c. 0%
b. 20%
d. 30%
85. Assessment level of assessment for a special class of real property like hospital is only
___________.
a. 15%
c. 10%
b. 20%
d. 30%
86. A real estate broker sold a real estate property in the amount of P150,000,000
receiving a commission of P7,500,000.00 which is equivalent to 5% of the selling price.
Compute the VAT of the broker.
a. P800,000.00
b. P450,000.00
c. P900,000.00
d. P350,000.00
87. How much will be the surcharge for the late payment of capital gains tax on the sale
of a house and lot in the amount of P3,000,000.00
a. P35,000.00
b. P45,000.00
c. P90,000.00
d. P75,000.00
88. Maria Jose owns a residential parcel of land in Quezon City valued at P1,800,000.00.
She opted to pay her realty taxes on a quarterly basis. How much will be the quarterly
tax payment of Maria.
a. P4,050.00
c. P16,200.00
b. PP8,100.00
d. P5,400.00
89. Gracia owned a residential house used for business and assessed as commercial .
What will be the assessed value of the land if the fair market value is P5,000.000.00?
a. P2,250,000.00
c. P1,150,000.00
b. P2,000,000.00
d. P1,000,000.00
90. A parcel of land was assessed as commercial at a rate of 45% with a fair market value
of P2,300,000.00 although the zonal value is P3,000,000.00. What will be the assessed
value?
a. P1,035,000.00
c. P1,000,000.00
b. P750,000.00
d. P1,100,000.00
Page 27

91. 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 the arrangement for reduction in commission as agreed.
92. Under ___________ , _______________ of RESA, 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.
a. Section 13, Rule III
b. Section 9, Rule II
c. Section 39, Rule 5
d. Section 7, Rule II
93. If one participated in the undervaluation of the sale, the broker is deemed to have
violated his relation to the
a. client
b. public
c. government
d. organization he belong
94. A newly passed broker was dealing with a broker already 10 years in the profession.
The more experienced real estate broker should
a. share his experiences on the transaction
b. try to put one over the new broker
c. use the advantage of his experience over the new broker
d. keep quiet when asked for advice by the new broker
95. Broker Y has a complaint against Broker P who belong to the same real estate
organization. Broker Y must therefore
a. File the case in court
b. Exhaust remedies within their organization
c. File and administrative case with PRC
d. Tell other members openly about his complaint
96. Spouses Ed and Susie are both real estate brokers. For 2012, Ed will earn
P1,850,000.00 and Susie will earn P2,000,000.00, how much will be the VAT paid by the
spouses.
a. P385,000.00
c. P462,000.00
b. P240,000.00
d. P200,000.00
97. The share of an illegitimate child in their fathers estate is equivalent to the share of
the legitimacy of the legitimate child in the share of
a. Equal share
c. One-third share
b. One-half share
d. No share
Page 28

98. The maximum amount of foreign ownership of a trading corporation which intends to
buy land shall be
a. 30%
b. 40%
c. 50%
d. 60%
99. Land occupied possessed and utilized by individuals, families, and clans who are
members of Indigenous Peoples:
a. Indigenous lands
c. Native Lands
b. Ancestral lands
d. None of the above
100. If a person died leaving a will, what is the special court proceedings that must be
instituted to determine the validity of the testamentary disposition of the deceased?
a. Probate proceedings
b. Petition for partition of property
c. Reconstruction of land title
d. Petition to quiet title

Page 29