JUMAWID
1. Which of the following definitions is appropriate for the term REAL ESTATE?
A.
Land and anything permanently attached to the land
B.
Property that is not encumbered by leases
C.
Building and other improvements
D.
Building and Fixture
2. POLICE POWER includes all of the following except.
A.
Zoning
B.
Deed restrictions
C.
Building codes
D.
Subdivision regulation
3. Which of the following best defines real estate.
A.
Land and the air above it
B.
Land and buildings permanently affixed to it
C.
Land and all things permanently affixed to it
D.
Land and the mineral rights in the land
4. The bundle of legal rights is included in.
A.
Land
B.
Real estate
C.
Real property
D.
Trade fixtures
5. All of the following would be considered real estate except.
A.
Fences
B.
Buildings
C.
Growing trees
D.
Farm equipment
6. Which of the following is not an economic characteristic of real estate?
A.
B.
C.
D.
Indestructibility
TVA)9i-e-A i t improvements
Area reference
Scarcity
Severance
Accession
Conversion
Inference
Scarcity
Immobility
Uniqueness
Indestructibility
18. Which of the following represents the economic characteristics of real estate?
A.
A Scarcity, Improvements, permanence of investment and area preference preference
B.
Land is immobile, indestructible, land is unique
C.
Land is scars and limited, land is unique and immobile
D.
Scarcity, availability of land, uniqueness of land
19. Any person directly engaged as principal in the business of buying or selling is ?
A.
Real estate broker
B.
Real estate dealer
C.
Dealer
D.
Real estate developer
20. Refers to any natural or juridical person engage in the business of developingreal estate development projects for
his/her or own account and offering them for sale orlease is called?
A.
Real estate dealer
B.
Real estate dealer
C.
Real estate project developer
D.
Real estate developer
21. Under RA 9646, what constitute the real estate service practitioners?
A.
Real estate salesman, broker, appraiser and consultant
B.
Real estate salesman, real estate developer, dealer
C.
Real estate developer, real estate dealer, salesman
D.
Real estate developer, realtor, real estate consultant
22.
The two major characteristics of real estate that affects its value?
A.
Economic and physical characteristics
B.
Political and environmental
C.
Natural or physical
D.
Economic and environmental
23.
27. An economic characteristics of real estate which says the building or improvementon one parcel of land has an effect
on the value and utilization of neighboring tract andcan be a direct bearing on the whole community or neighborhood is?
A.
Land is unique
B.
Improvements
C.
Permanence of investment
D.
Scarcity
28. The most important economic characteristics of real estate is referred to as ?
A.
Area preference or "situs"
B.
Improvements
C.
Permanence of investment
D.
Land is unique
29. No two parcels of land are ever exactly the same is referred to as?
A.
Land is unique
B.
Land is permanent
C.
Land is immobile
D.
Land is scars
30. Which of the word is defined as the earth's surface extending downward to thecenter of the earth and upward to
infinity?
A.
Land
B.
Real estate
C.
Real property
D.
Realty
31. Which of the word is defined as land at, above and below the earth's surface,including all things permanently attached
to it, whether natural or artificial is ?
A.
Realty
B.
Real estate
C.
Land
D.
Real property
32.
The word being referred to as the interest, benefits and rights inherent to theownership of real estate is?
A.
Land
B.
Real estate
C.
Real property
D.
Land and improvements
33. Which of the following are the two concepts of real estate that a registered licenseeor broker should know and
understand ?
A.
Legal concept of real estate and bundle of rights
B.
Legal aspect of ownership and inherent rights of ownership
C.
Bundle of rights theory and economic characteristics
D.
Fee simple and bundle of rights theory
34. The Bundle of rights is defined as ?
A.
The rights inherent to property ownership such as the right to enjoy, right to possess, right to dispose, right
to recover right to the fruits and the right to exclude others the right to exclude others right to possess,
right to dispose, right to recover right to the fruits and the right to exclude others
B.
The bundle of sticks representing rights of ownership
C.
The rights, benefits, and interest representing ownership
D.
The benefits, amenities, facilities, utilities we enjoy as owners
35. Under the bundle of rights concept, which right includes the right to sell, donate,will, pledge or mortgage ?
A.
B.
C.
D.
36. Which of the rights includes the three (3)kinds of fruits, such as natural fruits,industrial fruits and civil fruits ?
A.
B.
C.
D.
37. The rights f ownership are limited by four (4) powers of government namely?
A.
Police power, eminent domain, taxation and escheat
B.
Taxation, just compensation, condemnation, escheat
C.
Eminent domain, expropriation, taxation and confiscation
D.
Expropriation, taxation, escheat and police power
38. The word referred to as the absolute right of ownership without limitations as to any particular class of heirs or
restrictions but subject to the limitations of the four (4) powers of government is ?
A.
Rights in Fee simple
B.
Policed power
C.
Eminent domain
D.
Absolute right
39. Zoning rules and regulations or ordinances, traffic regulations, fire codes, and othersafety laws are examples of what
right of government on real estate ownership?
A.
Taxation
B.
Policed power
C.
Eminent domain
D.
Escheat
40. The right reserved by government to take private property for public use beneficial tothe public upon payment of just
compensation?
A.
Power of eminent domain
B.
Escheat
C.
Police power
D.
Taxation
41. The word referred to as the absolute right of ownership without limitations as to anyparticular class of heirs or
restrictions but subject to the limitations of the four (4) powersof government is ?
A.
Rights in Fee simple
B.
Policed power
C.
Eminent domain
D.
Absolute right
42. Which right of government is imposed on real estate ownership for the purpose ofraising funds for its operations and
services that otherwise protect and benefit thecitizenry ?
A.
Rights in Fee simple
B.
Policed power
C.
Eminent domain
D.
Taxation
43. The four ordinary classification of real estate according to use and normally referred to in the ordinary course of buying
and selling are?
A.
B.
C.
D.
44. Which of the following are the four (4) property types based on the International Valuation Council (1VSC)?
A.
Real property, personal property, business and financial interest
B.
Residential, commercial, industrial, agricultural
C.
Agricultural, timberland, mineral, residential
D.
Public domain, private ownership, present property, immovable
45. Which of the following are the constitutional classification of real property provided for in ART.XII Section 3 of the
constitution?
A.
B.
C.
D.
46. Which of the following are the two classification of real property according to existence provided for in Civil Code of the
Philippines?
A.
Movable or personal and immovable or real property
B.
Public domain and private ownership
C.
Real property and personal property
D.
Present property and future property
47. Which of the following are the constitutional classification of real property provided for in ART.XII Section 3 of the
constitution?
A.
Residential, commercial, industrial, agricultural
B.
Agricultural, timberland, mineral, residential
C.
Real property, personal property, business and financial interest
D.
Agricultural, forest/or timber, mineral and national parks
48. RDL is renting a single-family home under a one year lease. Two months into thelease he installs a window type aircondition placed in the opening provided for on oneside of the building. Which of the following is true?
A.
RDL cannot take out the or bring the unit with him after the lease
B.
RDL can take the unit because by its nature it is a personal thing
C.
Air condition units are permanent improvements of a building
D.
Because of the nature of the property, the air condition is considered a trade fixture
49. All of the following would be consideration for an item being real property except?
A.
The cost of an item when it was bought or purchased
B.
The method of its attachment to other real property
C.
The intended use of the item by its owner
D.
The manner in which the item is actually used with other real property
50. Which of the following makes use of a rate of investment return?
A.
The Sales comparison Approach or Direct Market Comparison
B.
Cost approach
C.
Income capitalization approach
D.
Gross income multiplier method
60. Certain figures must be determined by an appraiser before value can be computedby the income capitalization
approach. Which of the following is not required for thisprocess?
A.
Annual net operating income
B.
Capitalization rate
C.
Accrued depreciation
D.
Annual gross income
61. The income capitalization approach would be given the most weight in the valuationof what type of property?
A.
Single family dwelling
B.
Industrial property
C.
Strip shopping center
D.
School
62. The market value of a parcel of real estate is:
A.
An estimate of its future benefit
B.
The amount of money paid for the property
C.
An estimate of the most probable price it should bring
D.
Its value without improvement
63. Capitalization is the process by which annual net operating income is used to
A.
Determine cost
B.
Estimate value
C.
Establish depreciation
D.
Determine potential tax value
64. From the reproduction or replacement cost of a building the appraiser deductsdepreciation, which represents:
A.
The remaining economic life of the building
B.
Remodeling cost to increase rental
C.
Loss of value due to any cause
D.
Cost to modernize the building
65. In the Sales Comparison Approach or Direct Market Comparison Approach to valuethe probable sales price of a building
may be estimated by:
A.
B.
C.
D.
66. Which of the following factor e important in comparing properties underthe Sales Comparison Approach or rDiect
Market Comparison Approach to value?
A.
B.
C.
D.
68. The appraised value of a residence with four bedrooms and one bedroom wouldprobably be reduced because of:
A.
External obsolescence
B.
Functional obsolescence
C.
Physical deterioration-curable
D.
Physical deterioration-incurable
69. A factor representing the percentage increase in construction cost over time is used in the:
A.
Square foot method
B.
Quantity survey method
C.
Unit-in-place method
D.
Index method
70. Demand has no effect on value unless there is also:
A.
A need
B.
Purchasing power
C.
A scarcity
D.
An adequate supply
71. Depth tables would most likely be used in appraising what kind of property?
A.
Residential
B.
Industrial
C.
Commercial
D.
Agricultural
72. Which of the following is a physical factor affecting value?
A.
Community standards
B.
Price levels
C.
Lot size
D.
Population growth
73. The fact that individual properties, neighborhood and others are constantlychanging is called the principle of?
A.
Change
B.
Competition
C.
Conformation
D.
Coagulation
74. When a commodity is scarce and the demand is high, its value increases. This iscalled the principle of?
A.
Anticipation
B.
Conformity
C.
Competition
D.
Supply and Demand
75. The term plottage is closely associated with:
A.
Residential value
B.
Conformity
C.
Capitalization
D.
Assemblage
76. The appraisal report may be in a:
A.
Letter form, short form, or oral form
B.
Letter form, short form, or narrative form
C.
Letter form, perfect form, or oral form
D.
Letter form, long form, or narrative form
Cost approach
Evaluation approach
Gross divider approach
Reconciliation approach
78. The narrative form of appraisal report will include all of the following except:
A.
B.
C.
D.
79. Which of the following is the least important in determining the market value of a home?
A.
B.
C.
D.
80. Reconciliation, one of the last steps in the appraisal/valuation process, is:
A.
B.
C.
D.
83. The Cost Approach results in the most accurate appraisal of:
A.
B.
C.
D.
An old building
A single family residence
A new building
Vacant lot
To settle divorces
To settle lawsuit
To make residential mortgages
To solve problems that involve real estate valuation
87. An Appraiser/Valuer.
A.
B.
C.
D.
88. You are a licensed APPRAISER who has been asked to help sell a small family farm. The client specifically needs help
with a marketing plan, deciding what improvements should be made to the property, and how to handle an offer when
one comes in. If you accept this assignment, you are:
A.
B.
C.
D.
Acting as an appraiser
Acting as a consultant, not an appraiser
Violating the code of ethics for appraiser
Not competent to perform the assignment
89. Value is a word of many meanings, but the general meaning is?
A.
B.
C.
D.
90. To qualify for the appraiser's licensure examination, the examinees should possess the following except
A.
Bachelors degree holder
B.
Five years experience in appraisal work/as licensed broker
C.
Five years experience as real estate consultant
D.
Educated, competent, has experience and possesses A & B
91. The right of the government to acquire property of a decedent who died without awill and without heirs is referred to
as what?
A.
B.
C.
D.
Eminent domain
Escheat
Police power
Taxation
93. Land value can be estimated using the following techniques except?
A.
B.
C.
D.
95. The valuation process defining the value estimated is included in the:
A.
B.
C.
D.
Definition of problem
Highest and best use
Land value opinion
Preliminary analysis and data collection and selection
96. The valuation technique in which land and building are valued separately is:
A.
B.
C.
D.
97. Which of the following is...rer,rti Qfor Highest and Best Use
A.
B.
C.
D.
Legal permissibility
Maximum size of improvement
Physical possibility
Financial feasibility
99. What law governs the realty service practice in the Philippines?
A.
Republic Act No. 8975
B.
Republic Act No. 4996
C.
Republic Act No. 9646
D.
Republic Act No. 9966