Mockexampart II
Mockexampart II
Name: _____________________________
Instruction: Choose the letter of the right answer
1. This is a provision in a listing contract which entitles the broker to commission even if the sale was closed after
the period of his authority, provided that he registered , in writing, the name of the buyer during the period of his
authority:
a. Escalation clause c. Safety clause
b. Hold-over clause d. Acceleration clause.
5. It is the process of reconciling the opposing views of the parties to a transaction as to price and other terms of the
contract.
a. Presentation b. Negotiation c. Closing d. Prospecting
6. A condensed history of the title, consisting of the various links in the chain of title, together with a statement of
liens, charges or encumbrances affecting a particular property:
a. Transfer Certificate of Title b. Abstract of title c. Conveyance Contract
d. Cloud on title
7. The buyer is duty bound to examine the property he is purchasing and he assumes conditions which are readily
ascertainable on the face of the title “ let the buyer beware”
a. Pacto de Retro c. Jus Abutendi
b. Caveat Emptor d. Pacto di Vendi
8. A doctrine which states that “ Everything in the country without a registered owner is owned by the State.
a. Res Nullius b. Regalian c. Patrimonial d. Jus Fruendi
9. _______________, originated the system of land registration known today all over the world as the Torrens
System.
a. Sir Richard Robert Torrens c. Sir Robert Richard Torrens
b. Sir Robert Tolkien
10. The ________exists for the sole purpose of implementing and protecting the Torrens system of land titling and
registration.
a. NLTDRA b. LRC c. LRA d. RD
12. This is sometimes called the lot-block-tract method. This is used in areas where land is subdivided into phase,
block and lot and usually recorded in an approved subdivision plan
a. Lot plotting c. Relocation survey method
b. Plat survey method d. Topographic plan
17. A REIT must distribute annually at least ____% of its distributable income as dividends:
a. 60% b. 90% c. 75% d. None of the above
18. Art 422 of the NCC states that, Property of public dominion when no longer intended for public use or for public
service, shall form part of the ____________property of the State
a. Capital propertyb. Paraphernal property c. Patrimonial property
19. The best evidence of fee simple ownership is a Torrens Title because it is indefeasible and:
a. Imprescriptible
b. Binding against the whole world
c. Indefeasible
d. Has priority over tax declaration
e. All of the above
20. Several houses valued at P 5,000,000 and P 3,000,000 were built in an area where an existing house valued at
P1,000,000 is located. As a result, the value of the existing house increased. The real estate principle of value
that applies to this situation is called the principle of :
a. Substitution b. progression c. non-conformity principle d. regression
21. When a property is sold to 2 or more buyers, the property goes to:
a. Buyer in good faith and who first registered with the Register of Deeds
b. Buyer who pays the highest price
c. Buyer who was first in possession
d. None of the above
22. The selling price of a house and lot is P 4,500,000. If the appraised value is P4,200,000 and loan to collateral
ratio is 80%. What is its loan value?
a. P3,500,000 b. P3,360,000 c. P 3,400,000 d. P 3,250,000 e. none of the
above
24. Mr. X wants you to sell a property titled to their family corporation. After inspecting the property, you requested
for an exclusive authority. Who should be the signatory in the authority and all the subsequent documents in case
the property is sold?
a. Mr. X’s father who is the patriarch of the family
b. Mr. X who is the treasurer of the corporation
c. Whoever is authorized in a formal board resolution
d. The company president
25. The following are examples of involuntary alienation of property, except for:
a. Expropriation c. Sale for tax delinquency
b. Foreclosure of mortgage d. Sale to an alien buyer
27. The following are types of descriptions ordinarily used in deeds, contracts, offer to sell and lease:
a. Lot number b. bearings and azimuthc. monuments d. rectangular survey
28. Something annexed to another thing which may be transferred incident to it.
a. Annex b. appurtenance c. attachment d. none of the above
29. A ratio that represents the relationship between a particular year’s cash flow and the present value or the interest
applicable to the cash flow. It is usually assumed as an overall capitalization rate unless stated otherwise
a. Loan to value ratio b. capitalization rate c. Income ratio d. none of the above
30. Is a clause in the deed of a property that limits the type of use or intensity of use of the property; usually passes
with the land regardless of the owner.
a. Deed of conveyance b. Deed restrictions c. Holdover clause d. None of the
above
31. It includes all properties that fail to continuously generate enough income to support the funds to develop it.
a. Distressed Property b. Mortgaged Property c. Properties with liens
d. All of the abovee. None of the above
32. The potential rent which a property can command, considering rental or similar or comparable properties in the
neighborhood.
a. Market rent b. Economic rent c. Rental Income d. All of the above
33. An analysis of the impact of proposed land use on its environment including the direct and indirect effects of the
project during all phases of the use and their long term implications.
a. Environmental Study c. Environmental Impact Study
b. Sustainability study d. LEED study
34. A fixed object and point established by surveyors to establish land locations.
a. Concrete post b. Monument c. Bearings d. Boundary mark
35. Is the official list of all taxpayers subject to property tax that includes the amounts of their assessments and the
amounts of taxes due.
a. SEF b. Taxpayers Master list c. Tax roll d. None of the above
37. Private corporations and associations may hold alienable lands of public domain except for
b. By lease for a period not exceeding 25 years, renewable for another 25 years
c. By sale which must not exceed 500 has.
d. By lease which should not exceed a total area of 1000 has.
e. By straight lease of 50 years.
39. Filipino citizens may lease alienable lands of not more than _____, or acquire _____, by purchase, homestead, or
grant.
a. More than 1000 has, or acquire not more than 12 has
b. More than 500 has, or acquire not more than 12 has.
c. More than 500 has, or acquire more than 12 has.
40. This refers to use restrictions in particular areas or the delineation of allowable uses in particular areas:
a. Subdivision b. zoning c. police power d. eminent domain
41. This is a conveyance of the right to enjoy the fruits of the property
a. Escheat b. Usufruct c. Accretion d. Inheritance
42. This refers to the regulations pertaining to specifications such as setbacks and heights.
a. Right of Way of Easement b. Building code c. eminent domain
d. Usufruct.
43. Refers to the totality of the assets owned by a person which includes real and personal property:
a. Real estate b. Estate c. Movable properties d. Immovable properties
44. This refers to acquisition of alienable public land by homestead patent, free patent, sales patent, or other
government award.
a. Private land b. Involuntary grant c. Public grant d. reclamation
45. This is acquisition of land adjoining banks or rivers due to gradual deposit of soil
a. Alluvium b. Accretion c. Avulsion d. reclamation
46. This is acquisition of title by actual, open , continuous and uninterrupted possession for a period of time under
claim of title
a. Involuntary grant c. Private Grant
b. Prescription d. Public Grant
47. The essential elements of the contract are the following except:
a. Consent c. Object of the contract
b. Consideration d. Capacity of the Parties
50. The test for Highest and Best Use Analysis consists of the following:
a. Economically feasible, maximally productive, legally permitted, physically possible
b. Legally permitted, physically productive, economically feasible, interim use is possible
c. None of the above
51. This is the science of making measurements to determine the relative position of points and lines on the surface of
the earth.
a. Lot Plotting d. Relocation survey
b. Surveying e. none of the above
c. Chaplan
52. This is the imaginary line connecting the known geographic position ( say BLLM) to the corner point of the titled
property.
a. Tie point b. Contour lines c. Map d. None of the above
53. This is an economic principle to property value that perceives that the value is created by the expectation of
benefits to be derived in the future.
a. Principle of Change c. Principle of Contribution
b. Principle of Anticipation d. Principle of Opportunity Cost
54. After a Deed of Absolute Sale was made, signed and notarized when should the Documentary Stamp Tax be paid?
a. Within 24 hours from date of sale
b. Within 30 days from date of notarization
c. Within 10 days after the close of the month of notarization
d. Within 5 days after the close of the month of notarization
55. Spouses who were married after the effectivity of the Family Code without any pre nuptial agreement shall be
governed by:
a. Conjugal partnership of gains c. Absolute community of property
b. Absolute separation of property d. None of the above
56. Under the rule of conflict of interest, the following persons are disqualified to become Lessee, except:
a. Lawyers with respect to property of their clients under litigation which they take part.
b. Executors and administrators of property
c. Husband and wife when there is separation of property in marriage settlement and when there is judicial
separation of property
d. Guardian with respect to property of ward under guardianship
57. The listing and selling broker in a real estate transaction split the commission/professional fee equally. If the
commission rate is 6% and the selling broker received P 36,000. What is the selling price of the property?
P 3,600,000 b. P 800,000 c. P 600,000 d. P 1,200,000
58. The real estate broker is usually authorized to do all of the following acts, except:
a. Advertise the listing b. cooperate with other brokers c. Bind the principal in the contract d. Place
for sale sign in the property
59. The owner wants a net proceeds of P1,750,000 exclusive of capital gains tax, documentary stamp tax and 5%
brokers commission. How much would the selling price be if the broker wants to maintain a 5% commission?
a. P 1,968,750 b. P2,000,000 c. P 1,980,000 d. P2,200,000
61. In a sale, a retro where it is stipulated that the vendor has the right to repurchase the property “ when he has the
means,” he has ______ to redeem it.
a. Three (3) years b. twenty (20) years c. four(4) years d. ten(10) years
63. Three of the following factors create value in real estate. Which one does not create value?
a. Demand b. Utility c. Infiltration d. Scarcity
64. Three of the following are examples of involuntary alienation of property. Which one is not?
a. Expropriationb. Foreclosure of mortgage c. Sale to an alien buyer
d. Sale for tax delinquency
66. The increase in value of real estate without any effort or expenses of the owner is:
a. Accretion c. Unearned Increment
b. Accession d. Acceleration
67. It refers to the land and all those items which are attached to the land:
a. Real property c. Real estate
b. Real estate development d. Real Estate Const.
68. The professional fee for a real estate broker is payable upon:
a. Transfer of title to the buyer c. Upon notarization of the sale
b. Consummation of the sale d. Upon taking possession of the property
69. To be entitled to the professional fee or broker’s commission in the sale of a house and lot of the owner, the real
estate broker must be:
a. Present in the negotiations between the seller and buyer
b. Arrange the transfer of the title in the name of the buyer
c. The procuring cause of the sale
d. Sold not more than thirty days after expiration of authority
71. The authority to sell may be extinguished under the following instances , except:
a. Dissolution of the corporation which gave the authority
b. Death of the buyer c. Revocation d. Accomplishment of the purpose
72. It is the amount of money paid in a contract for the right to purchase a property and is separate and distinct from
the purchase price:
a. Reservation deposit c. Right of first refusal
b. Option money d. Downpayment
73. A verbal listing obtained by a real estate broker for the sale of a house and lot located in Makati City is
considered:
a. Not valid b. Void c. Voidable d. Valid
74. Two brokers sold a piece of land with an area of 1,000 sqms. at P5,000/sqm. And agreed that the listing broker
shall get 40% of the commission of 3%. How much will the listing broker receive?
a. P 75,000 b. P 140,000 c. P 90,000 d. P 60,000
75. In an escrow agreement, the party to whom the money or part of the money is entrusted to is referred to as the :
a. Escrow party b. Escrow trustee c. Escrow agent d. Escrow principal
76. One who has both the willingness and capacity to buy the property is referred to as a:
a. Prospect b. Suspect c. Sure buyer d. Prospective seller
77. A type of listing that gives the real estate broker the greatest protection
a. Exclusive agency listing c. Open Listing
b. Net Listing d. Exclusive Right to sell listing
78. The principle of real property values that maximum value is realized when a reasonable degree of homogeneity is
present in sociological as well as economic
a. Principle of Highest and Best Use c. Principle of Conformity
b. Principle of Progression d. Principle of Balance
79. A principle of ownership that mandates property owners to use their property in a manner that will promote not
only their interest but also the general welfare
c. Principle of social justice b. Principle of progression
c. Principle of conformity d. Stewardship Principle
80. Filipino citizens can acquire by patent agricultural lands of the public domain not exceeding
a. Five hectares b. 12 has c. 10 has. d. 8 has e. none of the above
83. This is a legal right where all the bundle of rights is enjoyed wholly:
a. Leasehold interest b. fee simple estate c. Leased fee d. Encroachment
88. Deadline of registration without examination per IRR of Real Estate Service Act Of The Phils.
a. June 30, 2011 c. July 30, 2011
b. Dec 31, 2010 d. Dec. 30, 2011 e. July 1, 2011
93. Passed the exam on 2007, unable to secure license from DTI, CPE required
a. 12 hrs c. 15 hours
b. 18hrs d. 24 hours e. 120 hours
94. Passed the exam on 2000, unable to secure license from DTI, CPE required in general
a. 12 hrs c. 15 hours
b. 18hrs d . 24 hours e. 120 hours
95. Minimum acceptable number of training hours by a service provider for brokers exam, in general
a. 18 hrs c. 15 hours
b. 24hrs d . 60 hours e. 120 hours
96. Minimum acceptable number of training hours by a service provider for salesman with 3-year experience upon the
effectivity of the law but without DTI salesman's license, in general
a. 18 hrs c. 15 hours
b. 24hrs d. 60 hours e. 120 hours
97. For practicing real estate without the required license is penalized in an amount of no less than
a. P100K c. P150K
b. P200K d. P50K e. P20K
98. However, a licensed practitioner who violated RESA Law is penalized in an amount of no less than
a. P100K c. P150K
b. P200K d. P50K e. P20K
99. For practicing real estate without the required license maybe penalized by imprisonment of no less than
a. 6months c. one year
b. 2 years d. 4 years e. 3 years
100. Licensed practitioner who violated RESA Law maybe penalized by imprisonment of no less than
a. 6months c. one year
b. 2 years d. 4 years e. 3 years
103. Maximum years of service for the members of the Board including reappointment
a. 4 years c. 6 y ea r s
b. 8 years d. 9 years e. 10 years
104. Organization of the first Board (PRBRES) should be within _____ from the effectivity of RESA Law.
a. 3 months c. 6 months
b. 2 months d. 1 month e. 1 year
105. Results of the examination shall be released within ______ from the last day of the examination.
a. 5 d ay s c. 10 days
b. 15 days d. 20 days e. 1 month
107. Within ______years from the effectivity of RA 9646, all existing and new positions in the national or local
government, shall be filled only by registered and licensed real estate service practitioners.
a. 1 year c. 2 years
b. 3 years d. 4 years e. 5 years
108. A licensed real estate broker can only hold ______ salespersons.
a. 10 c. 20
b. 30 d. 50 e. no limit as long as licensed
109. Term used in describing agents of developers who are getting allowances plus commissions.
a. sales agents c. accredited agents
b. in house agents d. independent contractors
111. A licensed practitioner who committed any section of RA 9646 shall be meted the penalty of a fine of not less than
P____________
a. P20K c. P30K
b. P50K d. P100K e. P200K
112. or imprisonment of not less than _______ years, or both upon the discretion of the court.
a. 6 months c. one year
b. 2 years d. 3 years e. 4 years
113. An unlicensed practitioner who committed any section of RA 9646 shall be meted the penalty of a fine of not less
than P____________
a. P50K c. P100K
b. P300K d. P200K e. P400K
114. or imprisonment of not less than _______ years, or both upon the discretion of the court.
a. 6 months b. one year
c. 2 years d. 3 years e. 4 years
115. The minimum educational requirement that an applicant for a license as a broker
a. college graduate with 4-year course
b. seventy two (72) units in college
c. eighty two (82) units in college
d. one hundred forty four (144) units in college
116. In general, the minimum educational requirement for a salesperson to be accredited by PRC is:
a. high school graduate
b. seventy two (72) units in college
c. completed at least 2 years of college education
d. one hundred forty four (144) units in college
117. Per IRR of RA9646, the original deadline for salespersons to be accredited by PRC through the Board is:
a. December 31, 2009 c. December 31, 2010
b. December 31, 2011 d. July 30, 2011
118. After the effectivity of RA9646, the IRR shall be prepared within ________.
a. 6 months c. 1 year
b. 90days d. 2 years
119. Per IRR of 9646, all documents, records of all practitioners who already passed the examination under DTI-BTRCP
shall be transferred/ turned-over to PRC within:
a. 6 months c. 1 year
b. 90days d. 2 years
120. Real estate practitioners are required to indicate the following when they sign documents related to the practice of
their professions except:
a. Certificate of Reg. number c. Professional ID number
b. HLURB Registration number d. AIPO membership number
e. PTR number
121. Under IRR of RA 9646, the lawyers of the ______ shall act as prosecutors against illegal practitioners and violators
of RA9646.
a. PRBRES c. PRC
b. HLURB d. RTC
122. The Code of Ethics of real estate practitioners, under IRR of RA9646, shall be prescribed and issued by:
a. A I P O c . P RC
b. PRBRES d. HLURB
123. A real estate practitioner duly registered with the Board shall __________ become a member of AIPO.
a. conditionally c. automatically
b. initially d. temporarily
124. Under IRR of RA9646, PAREB, REBAP and all other real estate service associations, shall be____ into one national
organization as the only AIPO of real estate service practitioners.
a. merged c. consolidated
b. combined d. integrated
125. Under IRR of RA9646, every registered real estate service practitioner must establish and maintain a principal place
of business and as such must display their proof of registration except:
a. Certificate of registration
b. Professional ID card
c. CR and Prof. ID card of all service practitioners employed in such office
d. Professional tax receipt
126. ABC Realty Corporation, a real estate brokerage company, is acting through the license of Mr. Juan dela Cruz, a
registered real broker. Mr. Reyes, a salesperson of the company, consumated a sales transaction which entitles him to
receive 3% commission. The 3% commission of Mr. Reyes to be issued by the developer must be payable and in the name
of _________under IRR of RA9646 to:
a. Mr. Reyes net of withholding tax
b. Mr. Juan dela Cruz - the licensed broker
c. ABC Realty Corporation
d. Any authorized person of the company
127. Consequences of RA9646 to an assessor of local government unit with permanent appointment failed to register as
an appraiser to PRC through the Board except:
a. shall continue to perform their functions without need for re- appointment
b. no diminution of status, rank and salary grade
c. may only be replaced if vacancy occurs
d. may still be promoted to a higher position
128. Generally, selling real estate habitually requires license. The following are exceptions and may sell real estate legally
except:
a. any person acting through court order
b. sheriff in foreclosure sales
c. receiver or trustee in bankruptcy proceedings
d. mortgagee in judicial foreclosure
e. owners of real estate selling his personal residence
f. attorney in fact of the seller
g. salespersons of subdivisions and condominiums
129. All qualified applicants for registration without examination are required to take an oath before the following except:
a. chairman of PRBRES
b. any of the 5 members of PRBRES
c. Commissioner of PRC
d. any officer of the Commission
e. none of the above
130. All these qualified applicants for registration without examination are required to take an oath except:
a. DTI passer for brokers exam f. none of the above
b. DTI passer for appraisers exam
c. DTI passer for consultants exam
d. High school graduate with previous salesman's license at DTI
e. Inexperienced applicant for salesperson who completed 2nd year of college
131. Following are the requirements for a revoked license of a real estate practitioner to be reinstated except:
a. Upon discretion of the Board may be exempted in taking another examination
b. Upon discretion of the Commission
c. Maybe done only after expiration of 2-year period from date of revocation
d. Board's petition through a resolution subject to the approval of the Commission
132. General qualifications of the chairman and members of PRBRES are the following except:
a. resident and citizen of the Phils.
b. college graduate (4-year course)
c. accused of criminal offense involving moral turpitude
d. a member of the AIPO
e. an active and licensed real estate practitioner for at least 10 years
133. The type of listing that gives the real estate broker the greatest protection
a. Exclusive Right to Sell c. Multiple Listing
b. Net Listing d. Open Listing
134. An authority given by the developer to a broker to look for a supplier of backfilling materials who shall be paid with
developed lot is:
a. Procurement agency c. Exchange agency
b. General brokerage d. Sales agency
135. An agreement where the consideration of a contract is deposited with a third party who is authorized to release said
consideration to the seller after the latter has compiled with certain condition is:
a. Option c. Contract to sell
b . Escrow d. Hold-over-clause
136. The real estate broker is usually authorized to do all of the following acts, except:
a. advertise the listing
b. Place for sale sign on the property
c. cooperate with other brokers
d. Bind the principal in a contract
137. In subdivision selling, the sale is considered a paid-up sale when the buyer has paid the:
a. fifty percent of the purchase price c. stipulated earnest money
b. reservation deposit d. required down payment
138. It is a contract granting a person the privilege to buy or not to buy certain objects at anytime with the agreed period at
a fixed price.
a. Solicitacion c. Aleatory Contract
b. Option Contract d. Pacto de Retro Sale
139. Refers to law on acquisition by a natural born Filipino citizen on residential property
a. RA6732 b. RA6552 c. RA9653 d. RA9700 e. BP185
140. Refers to law on acquisition by a natural born Filipino citizen on property for business
a. RA6732 b. RA8179 c. RA9653 d. RA9700 e. BP185
146. Law that allows foreign investors to lease private for a maximum of 50yrs renewable once for 25 yrs
a. RA6732 b. RA6552 c. RA9653 d. RA9700 e. RA7652
149. National Shelter Program, designated HLURB as the sole regulatory body of housing and land devt.
a. PD957 b. EO 90 c. RA9653 d. RA9700 e. E.O. 209
150. Home Guaranty Act/Magna Carta for Homeowners & Homeowners Association
a. RA6732 b. RA6552 c. RA9653 d. RA8763 e. BP185
151. Law where HLURB assumed the functions of NHA on real estate management
a. RA6732 b. RA8179 c. RA9653 d. RA9700 e. EO648
155. Law which regulate the development and sale of subdivision and condominium
a. PD 957 b. PD 1529 c. PD1517 d. PD27 e. PD471
157. Law which prohibits the eviction of occupants from lands identified and proclaimed as APDs or ULRZs and
exempting such land from payment of realty tax ( July 23, 1986)
a. PD 957 b. PD 1529 c. PD1517 d. PD2016 e. PD471
158. An act authorizing Ministry of Human Settlements ( now HLURB) to establish and promulgate different levels of
standards for economic and socialized housing.
a. PD 957 b. PD 1529 c. PD1517 d. BP185 e. BP220
160. An act allowing reconstitution of title administratively destroyed by fire, flood, etc (June8, 1989)
a. PD 957 b. RA6552 c. RA4726 d. RA9700 e. RA6732
161. Law which discontinue the Spanish Mortgage Law system of registration (Feb. 16, 1976)
a. PD 957 b. PD1096 c. PD1529 d. PD772 e. PD892
166. An act providing legitimization of children born to parents below marrying age
a. RA6732 b. RA9858 c. RA9653 d. RA9700 e. RA9225
163. An act which provides that age of majority commences at 18 years as incorporated under Art.234 of the Family Code
a. RA6732 b. RA9858 c. RA9653 d. RA6809 e. RA9225
164. Law which creates DENR, reorganization and renaming Dept of Environment, Energy and Natural Resources as
DENR (June 10, 1987)
a. PD957 b. EO90 c. RA9653 d. EO192 e. E.O. 209