Atty. Matinez - S Reblex

NOT
FOR SALE!!! THE MATERIAL APPEARS TO BE SIMILAR TO ATTY. ARIEL MARTINEZ

REBLEX, ATTY. RHANDELL ALVIN B. MATULOY WAS PROVIDED BY THIS MATERIAL AND WAS
ASKED TO VOLUNTARILY EXPLAIN AND ANNOTATE WITHOUT COMPENSATION OF ANY
FORM; FOR FAIR ACADEMIC USE ONLY

GOOD LUCK TO ALL AND PRAY HARD (043) 7063010
LEGAL REQUIREMENTS FOR REAL ESTATE SERVICE PRACTICE
1. Prior to the RESA law, the law that governed the real estate service practice is:
A. DTI Ministry Order No. 39, Series of 1985
B. DTI Code of Commerce
C. DTI Ministry Order No. 85, Series of 1989
D. Real Estate Service Act of the Philippines
Explanation: Real Estate Service Practice was formerly under the supervision and
regulation of the Department of Trade and Industry particularly the Bureau of Trade
Regulation and Consumer Protection (BTRCP). The DTI that time issued Ministry Order
No. 39 in order to regulate the real estate service. Under the present RESA law, real
estate service practice is regulated by the Professional Regulatory Board of Real
Estate Service under the Professional Regulations Commission.
2. Grace decided to be a real estate broker, it is therefore required she must, in the
meantime be a graduate of:
A. A bachelors degree in real estate management
B. A relevant bachelors degree
C. At least 2 years of college which leads to a BS/AB degree
D. A bachelors degree in real estate brokerage
See Section 14 (b) of the IRR of RESA law.
3. The Real Estate Service Act of the Philippines (RA 9646) became effective last:
A. June 15, 2009
B. June 30, 2010
C. July 30, 2009
D. July 30, 2010
Note: The key word in this question is effective but when the question asks about
the date of signing the examinee must answer 29 June 2009.
4. Under the RESA law, a city government official whose purpose is primarily for
taxation purposes is the:
A. Real estate treasurer
B. Real estate appraiser
C. Real estate assessor
D. Private real estate appraiser
Note: The real estate appraiser and assessor take the same appraisal examination
and are categorized as one real estate service practice. The main difference between
the two is that the assessor is employed as a government official for purposes of
taxation. It is opined that the assessor may, when allowed by his superior, practice
private real estate appraisal practice as they are issued one and the same category of

NOT FOR SALE!!! THE MATERIAL APPEARS TO BE SIMILAR TO ATTY. ARIEL MARTINEZ

license and share the same examination. In the same manner, a private real estate
appraiser may apply with the government as a real estate assessor provided he
completes all the requirements of a civil servant. It is humbly submitted that the real
estate assessor is actually a specific practice under the general term real estate
appraiser.
5. In case RR development corporation will engage in the development of land for a

memorial park, the corporation shall be referred to under the RESA and defined as
a:
A. Real estate business corporation
B. Real estate developer
C. Real estate development and memorial company
D. Real estate dealer
Explanation: "Real estate development project" means the development of land for
residential, commercial, industrial, agricultural, institutional or recreational
purposes, or any combination of such including, but not limited to. tourist resorts,
reclamation projects, building or housing projects, whether for individual or
condominium ownership, memorial parks and others of similar nature.
6. Joe, as a real estate appraiser, is a person who conducts valuation/appraisal with

the necessary qualifications and experience to direct the valuation of real property,
and is also referred to as:
A. Property appraiser
B. Value estimator
C. Real estate assessor
D. Valuer
Explanation: Under real estate appraisal practice, the appraiser is ordinarily and
internationally referred to as VALUER. Options A and B are not the appropriate
terminologies. While Option C is a technically an appraiser in public office for
purposes of realty taxation.
7. It refers to the land, improvement and all those attached to the land which are
tangible and physical (APPRAISER EXAM):
A. Real property
B. Real estate
C. Real estate improvements
D. Real property and improvement
Explanation: Please note that real property is the broader concept which consists of
the concepts of (i) real estate as the tangible component and (ii) interests therein
{bundle of rights} as the intangible component.


8. Previously a licensed real estate salesman under MO 39 series of 1985, the
salesman is now referred to under the RESA as:
A. Accredited real estate salesman
B. Accredited real estate salesperson
C. Licensed real estate salesperson
D. Licensed real estate sales agent
Explanation: Always remember that a real estate salesperson under the RESA Law is
strictly speaking not licensed but merely ACCREDITED to real estate broker for
one (1) year.
9. For the assessor, as provided under the RESA, it shall refer to the Chief Assessor
of the municipality or city or province and includes the:
A. Assistant assessor
B. Public government appraiser
C. Public real estate assessor
D. Government chief appraiser
See IRR of RESA Sec 3 (b)
10. An AIPO is a national organization of real estate practitioners. AIPO means:

A. Association of Integrated Professional Organization
B. Accredited institute of professional organization
C. Accredited and Integrated Professional Organization
D. Association of integrated practitioners organization
Note: AIPO should be differentiated from the Interim Accredited Professional
Organization (IAPO), the latter is as the term interim implies shall be the
professional organization accredited by the Commission only to operate and perform
activities or acts prior to and until the recognition or birth of the AIPO.
11. A real estate appraiser who was licensed then under the DTI may still be allowed
to register without examination under the principle of:
A. Licensing
B. Carryover clause
C. Grandfather clause
D. Practice exemption
Explanation: Nowhere in the IRR is this term found, but GRANDFATHER CLAUSE
is the popular name for the clause or provision under Section 20 of the IRR of RESA
law providing for registration without examination of DTI license holders and passers
under the former rules and regulation..
12. The Real Estate Service Board or the Professional Regulatory Board of Real
Estate Service is composed of a chairperson and how many other members


A. 5 members
B. 3 members
C. 6 members
D. 4 members
Explanation: The total composition of the board is five persons, and since the
question already mentioned the chairperson then the answer is four members.
13. For its creation, the nomination of members to the Real Estate Service Board is
initially made by the:
A. Professional Regulation Commission
B. Accredited and Integrated Professional Organizations
C. Accredited Professional Real Estate Organizations
D. Professional Real Estate Organizations
Note: This question is taken from Section 4 of the IRR of the RESA law, the keyword
for the answer is nomination and there are actually five nominees each position to
be submitted by the AIPO. From such five nominees each position, there shall be
three recommendees to be chosen by the PRBRES. From such three recommendees
each position the President shall choose his appointees for the five members of the
PRBRES. In choosing the five members, the President must appoint two members who
are government assessors and appraisers both in active government service.
14. Stephen a real estate broker employed a real estate salesperson to help him sell
condo units. In this case, the real estate salesperson must be a:
A. Licensed real estate salesperson
B. Licensed and registered real estate salesperson
C. Registered real estate salesperson with HLURB
D. Accredited real estate salesperson
15. The first national organization which was recognized and appointed to perform
duties prior to the recognition of the official AIPO was the:
A. Interim Integrated and Accredited Professional Organization
B. Interim Accredited Professional Organization
D. Interim Accredited Professional Organization
See Section 3 (i).
16. In addition to licensing with the PRC, a real estate broker who intends to sell a
residential subdivision project must also register with:
A. The AIPO
B. The HLURB
C. The Department of Trade and Industry


D. The Condominium project
See PD 957
17. The Professional Regulatory Board of Real Estate Service (PRBRES) shall be
under the supervision of this government agency:
A. Professional Regulatory Commission
B. Professional Regulations Commission
C. Professional Commission of Professionals
D. Professional Regulation board
18. A real estate salespersons registration with the HLURB shall automatically be
terminated upon:
A. Termination of his employment by the real estate broker
B. Termination by the real estate association
C. Suspension of the registration of the real estate developer
D. Expiration date of January 1 of the year
Note: According to the PRBRES, a real estate salespersons period of accreditation shall be
for a period of one year from issuance of accreditation ID. In case the contractual
relationship between the broker and salesperson is either ended by termination or
resignation before the one year accreditation period, the end of contract shall be reported by
the employer to the PRBRES within a period not to exceed fiteen (15) days from the date of
effectivity of the resignation or termination.
19. The professional regulatory board of real estate service (PRBRES) has the
supervisory powers over the real estate broker and the brokers license may be
suspended under the following ground:
A. Unethical practice
B. Engaging in practice during suspension
C. Violation of his associations by laws
D. Non-registration with HLURB
20. In case of a vacancy in the board, it shall be filled up for the position vacated,
which shall be for the period of:
A. 3 years
B. The same term of his/her predecessor
C. The unexpired portion of the term of member who vacated
D. Not more than 6 years


21. Adrian was going to sell subdivision lots of a project and become a real estate
salesperson but would need the educational requirement of:
A. At least high school graduate
B. At least 2 years of college
C. At least a bachelors degree
D. At least 124 units of college
Section 31 of IRR of RESA Law
22. Under the DTI Ministry Order No. 39 Series of 1985, a person may become a
licensed real estate salesman and provided the person is:
A. At least graduate of elementary
B. At least high school graduate
C. At least 72 units of college
D. At least 2 years college
23. As provided under Presidential Decree No. 957, a real estate salesperson who sells
condominium units for a project must file a bond in the amount of:
A. 1,500.00 pesos
B. 1,000.00 pesos
C. 20,000 pesos
D. No bond is required
24. The PRBRES shall prescribe the essential requirements as to the curricula and
facilities of schools, colleges or universities in cooperation with the:
A. Department of Education
B. Commission on Higher Education
C. Private Association of Schools in the Philippines
D. Philippine Universities Association
25. If a complaint was filed by a buyer with the PRBRES for violation of the RESA
and the broker was found liable. He/She may appeal to the:
A. Court of Appeals
B. Supreme Court
C. Professional Regulatory Commission
D. Professional Regulations Commission
26. If a real estate broker failed to renew his license before the effectivity of the
RESA, the broker was required to take the following Continuing Professional
Education Units:
A. 12 CPE units
B. 15 CPE units


C. 24 CPE units
D. 120 CPE units
27. Suspension of a member of the Professional Regulatory Board of Real Estate

Service for grounds under the RESA, shall be made by the:
A. Professional Regulation Commission
B. President of the Philippines
C. Ombudsman
D. Majority vote of the members of the real estate service board
See Section 9 of IRR of RESA Law, note that the suspension is implemented by the
President but the recommendation to suspend or remove is given by the Professional
Regulation Commission.
28. Which of the following is not considered as a ground for the removal of the
chairperson of the PRBRES?
A. Unprofessional conduct
B. Conviction of the crime of slight physical injuries
C. Immoral conduct
D. Neglect of duty
29. An applicant who wants to be registered and licensed as a real estate service
practitioner shall undergo an examination to be given by the Board excluding the
following:
A. Real estate broker
B. Real estate assessor
C. Real estate salesperson
D. Real estate consultant
Explanation: The real estate salesperson is the lone practitioner who has no
examination and is merely accredited to a real estate broker.
30. In order to conform to technological and modern developments, the subject for
examination may be re-clustered, modified, added to, or excluded as may be
found necessary by the:
A. Commission on Higher Education
B. Professional Regulatory Board of Real Estate Service
D. Department of Education
31. The bachelors degree adopted in coordination with the CHED for real estate
service and required under the RESA law is called:
A. Bachelor of Science in Real Estate Brokerage


B. Bachelor of Science in Real Estate Service Practice
C. Bachelor of Science in Real Estate Management
D. Bachelor of Science in Real Estate Service
32. Which of the following is not a requirement to qualify to take the real estate
appraisers licensure examination?
A. Must be a citizen of the Philippines
B. Must be a resident of the Philippines
C. Must take continuing professional education units
D. Must have NBI clearance
33. In case of an applicant for the examination for real estate consultants. Proof must
be shown that he/she has years of experience as a licensed real estate appraiser, or
as a bank or institutional appraiser of:
A. 10 years
B. 2 years
C. 5 years
D. 3 years
34. To take the licensure examination for real estate brokers, he/she must have
completed how many units of real estate subjects and training from accredited
service providers as may be determined by the Board:
A. 12 units
B. 240 units
C. 120 units
D. 60 units
35. A candidate may be deemed to have passed the examination, if he/she obtained an
average in all subjects of:
A. 60%
B. 80%
C. 85%
D. 75%
36. Results of the licensure examination shall be released by the Board from the last
day of the examination within
A. 5 days
B. 10 days
C. 20 days
D. 30 days


37. As she just passed the real estate brokers examinations, Angela will be given a
certificate of registration by the Professional Regulations Commission which will
be valid:
A. For 6 years
B. For 3 years
C. Until renewed
D. Until revoked
Note: Only the PRC ID and surety bond are renewed every three years.
38. For an Examinee taking the licensure examinations for real estate broker to pass,
he or she must have no rating in any subject below:
A. 50%
B. 60%
C. 65%
D. 75%
39. Under the RESA in addition to certification of registration a successful examinee

shall also be given by the PRC the following:
A. Professional Identification Card
B. Certificate of attendance
C. Certificate of Oathtaking
D. Professional Rating Certificate
40. As of the present, the PRC chairperson in charge of the Professional Regulation
Commission is:
A. Teresita Manzala
B. Jenifer Manalili
C. Ramon Cuervo
D. Eduardo G. Ong
41. Renewal of the professional identification card shall be upon satisfying the
requirements of the Board such as, but not limited to attendance in the CPE
program and shall be renewed every:
A. 1 year
B. 3 years
C. 5 years
D. Non-renewable


42. The required bond for the private real estate appraiser to practice real estate
service shall be in the amount of:
A. 25,000 pesos
B. 20,000 pesos
C. 10,000 pesos
D. 200,000 pesos
43. A real estate broker is required to post a bond in the amount of 20,000 pesos with
PRC and 5,000 pesos with HLURB under PD 957 and 1,000 for real estate
salesperson also with HLURB. How much total bond should therefore be posted
by a real estate broker?
A. 26,000.00 pesos
B. 20,000.00 pesos
C. 21,000.00 pesos
D. 5,000 pesos
Explanation: There is actually no answer, the correct answer is 25,000.00 (20,000
PRC bond plus 5,000.00 HLURB bond) The best answer is 20,000, as the intention of
the examiner is for the examinee to recognize that the 1,000 HLURB bond is not
included in the total bond to be posted by the real estate broker.
44. Upon application and payment of the required fees, subject to the approval of the
PRC, special / temporary permits may be issued to real estate service practitioners
from foreign countries in case of:
A. Unavailability of local practitioners to enhance the practice
B. Specific foreign development projects
C. Government to Government realty projects
D. Lack of real estate salespersons
See Section 23 of IRR of RESA Law.
45. Renewal of the professional identification card issued to a real estate service
practitioner shall be every:
A. 1 year
B. 3 years
C. Other year
D. Until revoked
See Section 17 of the IRR of RESA Law
46. In case of practice involving condominium projects, the following should not be
required to post a bond with the government.
A. Real estate salesperson
B. Real estate broker


C. Real estate private appraiser
Note: Of the four practitioners, only the real estate appraiser, assessor and broker
are required to post a bond.
47. A foreign real estate service practitioner shall be issued a Special / Temporary
Permit under R.A. no. 9646 and the IRR unless:
A. He/she passes the licensure examinations
B. Pays the bond of 20,000 pesos
C. Register with HLURB
D. There is foreign reciprocity between their countries
See Section 24 of the IRR of RESA Law.
48. A successful examinee must, before engaging in the practice of real estate service,
undertake the following:
A. Register with HLURB
B. Take an oath before the Board
C. Secure an NBI clearance
D. Post a bond in the total amount of 25,000.00 pesos
See 25 of the IRR of RESA Law
49. The following number of acts performed by a real estate service practitioner shall
constitute an act of engaging in the practice of real estate service:
A. More than one transaction
B. Several transactions
C. At least one transaction
D. Two consecutive transactions
50. A roster of registered professional real estate service practitioners will be made
but which will not include the following information:
A. Name of practitioner
B. Field of real estate service practice
C. License number
D. E-mail address of practitioner
51. For a real estate marketing corporation that will sell subdivision projects, it is
required that there should be licensed real estate brokers with the following
maximum number of real estate salesperson each:
A. 20 HLURB licensed real estate salespersons


B. 20 PRC accredited real estate salespersons
C. 20 PRC licensed real estate salesperson
D. 20 PRC accredited and HLURB registered real estate salesperson
52. The minimum fine that may be imposed on a person who engages in real estate
service practice without a license is:
A. 20,000.00 pesos
B. 200,000 pesos
C. 50,000 pesos
D. 100,000 pesos
53. To engage in practice of the profession of a real estate broker whose office is in
Mandaluyong, professional tax must be paid and is payable to:
A. Professional Regulatory Board of Real Estate Service
B. City Treasurer of Mandaluyong
C. Bureau of Internal Revenue
D. Treasurer of the PRC
54. A real estate appraiser was found liable by the PRBRES. He may appeal the
decision of the PRBRES to the PRC Commission:
A. Within 30 days from receipt of decision
B. Within 15 days from receipt of decision
C. Within 15 days from date of decision
D. Within 60 days from date of decision
55. Upon application and compliance with the required CPE units and for reasons
deemed proper and sufficient, the Board may reinstate any revoked certificate of
registration and reissue a suspended professional identification card after a period
of:
A. 1 year
B. Upon approval
C. 2 years
D. 3 years
See Section 21 of the IRR of RESA Law
56. It is not required for the following practitioner to be a member of the AIPO for
real estate service practitioners:
B. Real estate appraiser
C. Real estate salesperson


Explanation: See Section 34 in connection with Section 3 (h) of IRR of RESA Law. It
appears that with this question, the real estate salesperson is not a professional and
thus should not be included as a member of AIPO. A real estate salesperson is merely
accredited to a broker.
There has been some legal debate on who or what should compose an AIPO due to
the inconsistency between Section 3(h) which speaks of natural persons as
members and Section 34 which speaks of real estate service associations as
members. For examination purposes, if the question is in the form of a definition of
AIPO the recommended answer is organization of natural persons.
57. The penalty to be imposed on an unlicensed real estate appraiser is:

A. At least 2 years imprisonment
B. At least 100,000 fine
C. At least 100,000 fine and / or 2 years imprisonment
D. At least 200,000 fine and / or 4 years imprisonment
58. Jennifer, a licensed real estate broker wanted to set up a real estate marketing
group and she may engage the services of:
A. 20 real estate salesperson
B. 20 licensed real estate salesperson
C. 20 accredited real estate salesperson
D. The is no prescribed limit
59. Lorena just passed the real estate brokers examination and rented out an office
space for her practice. It is required that she must display in her place of business
the following:
A. Professional identification card
B. Business name
C. AIPO receipt number
D. Certificate of Registration
60. The real estate service practitioner must abide by the code of ethics for the
practice promulgated by the Board which is referred to as:
A. National Code of Ethics
B. National Code of Ethics for Real Estate Service Practice
C. National Code of Ethics and Responsibilities
D. National Code of Ethics for Realty Service Practice


61. Eduardo used to sell lots in a subdivision but only finished high school. Under the
IRR of the RESA, He could have continued to practice so long as he takes
continuing education program for:
A. 120 hours real estate seminar and training
B. 120 hours on the job training
C. 60 hours on the job training and seminar
D. 60 hours real estate seminar
See Section 31 of IRR of RESA law, note however that this provision is a Grandfather
clause and is at present inoperative.
62. As required under the IRR of the RESA the following practitioner should be full
time in his or her work:
A. Division manager
B. Unit manager
C. Real estate broker
D. Real estate salesperson
See Section 32 (b) of IRR of RESA Law.
63. For violation of the provisions of the RESA and its IRR by a real estate
partnership, the following may be made liable for violation:
A. The president
B. The director of the corporation
C. The chief operating officer
D. The partner
64. If one wanted to be qualified to be a member of the Professional Regulatory

Board. It is required that one should have experience as a licensed real estate
broker for at least:
A. 5 years
B. 1 year
C. 10 years
D. Not required
Section 6 of the IRR of RESA Law.
65. It is the power of the Board not to register and issue a certificate of registration to
any successful examinee if:
A. Charged with the crime of murder
B. Found to be psychologically unfit
C. Convicted of traffic violation
D. Being investigated for immoral conduct


Section 18 of IRR of RESA Law.
66. For the renewal of the professional identification card of a real estate consultant, it
is required that the practitioner must:
A. Be a member in good standing of the AIPO
B. Be a member in good standing of his/her association
C. Post a bond for 20,000 pesos
D. Be under a real estate broker
67. In order for a person aspiring to be the city assessor or to a higher credential level,
under the RESA, the person must be:
A. A licensed real estate appraiser
B. A licensed real estate assessor
C. Experience as a real estate broker for 10 years
D. Been in the government for at least 15-20 years
68. A current assessor who, on the date of the effectivity of R.A. No. 9646 shall be
allowed to register without examination, among others, provided they hold
permanent appointments and are performing actual appraisal and assessment
functions for the last 5 years and have passed the:
A. Civil Service Examination
B. PRC licensure examinations for assessors
C. Real estate appraisers examinations
D. Real property assessing officer (RPAO) examinations
See Section 20 (b) of IRR of RESA Law. Being part of the Grandfather clause the said
provision is also inoperative.
69. A person who wants to engage in real estate service practice shall be required to
post a bond in the amount of 20,000 pesos if he/she will be a :
B. Real estate private appraiser
C. Real estate public appraiser
See Section 26 of IRR of RESA Law. It is opined that there are actually two general
kinds of real estate appraisers: (1) private real estate appraisers (2) public real estate
appraiser which includes but is not limited to, a real estate assessor who is a public
real estate appraiser who renders opinion on value of real property for taxation
purposes.


70. Kimberly wanted to sell condo projects as a real estate salesperson, she must
register with HLURB and post a bond in the amount of:
A. 500.00 pesos
B. 1,000.00 pesos
C. 2,000.00 pesos
D. 5,000.00 pesos
71. The expiry of the registration with HLURB of a real estate broker expires every:
A. December 31 of the year
B. 3 years
C. On the birthdate of the real estate broker
D. On the last day of January
72. In addition to the license number and PTR, the broker must also indicate in the
documents he signs the following:
A. AIPO Receipt Number
B. Address of the broker
C. Email address
D. Date of release of Professional Identification Card
73. The required membership to the AIPO of a real estate practitioner shall be:
A. Upon approval by the AIPO
B. Upon approval by the PRBRES
C. Automatic and Mandatory
D. Upon approval by the PRC
See 34 of IRR of RESA Law
74. If NJ was found guilty of violation of the RESA law without a license and may be
imposed the penalty of:
A. At least 100,000 pesos fine
B. At least 200,000 pesos fine
C. At least 2 years improvement
D. At least 100,000.00 fine and 2 years imprisonment
75. No real estate salesperson, either directly or indirectly can negotiate mediate or
transact any real estate transaction for and in behalf of a real estate broker without
first:
A. Securing accreditation from the PRC
B. Securing accreditation from HLURB
C. Securing a license from PRC


D. Being registered with HLURB
76. In the PRBRES logo, the color blue represents:

A. Service
B. Professionalism
C. Ethical Practice
D. Real Estate Service Industry
77. In case of the bond required of a private real estate appraiser, the bond may be
made in the manner of:
A. Appraisers performance bond
B. Real estate mortgage
C. Surety bond
D. Promissory note
See Section 26 of IRR of RESA Law
78. One of the following is exempted from the coverage of the real estate service
practice in case of selling the property of a private owner:
B. Real estate salesperson
C. Attorney in fact who does not require compensation
D. A person appraising a property of another person
79. The first chairman of the Professional Regulatory Board of Real Estate Service is:
A. Florencio Dino
B. Teresita Manzala
C. Bansan Choa
D. Eduardo Ong
80. The law that governs the Professional Regulations Commission:

A. RA 8981
B. RA 9646
C. RA 8424
D. RA 8646
81. As the AIPO, the accredited and integrated professional organization approved by
the PRC last 2011 is called:
A. Philippine Institute of Real Estate Professionals
B. Philippine Institute of Real Estate Service Practitioners
C. Institute of Philippine Real Estate Service Practitioners
D. Institute of Real Estate Professionals


82. The various regulatory boards under the PRC are grouped into an association
referred to as the:
A. PAPRB
B. PARBR
C. PRBRES
D. PABRES
83. As of December 2012, the total number of real estate service practitioners
approved for registration without examination and those who passed the brokers
exam in 2011 and 2012 is estimated at:
A. More than 20,000
B. More than 16,000
C. More than 10,000
D. More than 25,000
84. The following is not issued a separate license for the practice of their specified
profession:
A. Real Estate Broker
B. Real Estate Assessor
C. Real Estate Appraiser
D. Real Estate Consultant
85. The total number of regulatory boards in the country supervised by PRC is
estimated as:
A. More than 30
B. More than 40
C. More than 50
D. More than 100
86. Prior to the Professional Regulation Commission, the same was referred to as:
A. Professional Regulation Authority
B. Officer of the Board Examiners
C. Professional Board of Examiners
D. Offers of the Professional Board of Examiners
87. The current Chairperson of the Professional Regulation Commission is:

A. Teresita R. Manansala
B. Teresita R. Manzala
C. Tessie R. Mancilla
D. Teresita R. Maanalili


88. There are 4 sectors categorized under the PRC for the various professions which
one is not a sector:
A. Business, Education and Management
B. Vocational technology
C. Engineering
D. Medical and Health
89. The law governing the Professional Regulation Commission is called:

A. Professional Modernization Act of 2000
B. Professional Regulation Act
C. Professional Modernization Law
D. Professional Regulatory Act of 2000
90. The Real Estate Service Practice is classified under the PRC as belonging to this
sector:
A. Business and Service Sector
B. Real Estate Sector
C. Business, Education and Management Sector
D. Technology sector
91. The term of office of the commissioners of the Professional Regulation shall be:
A. 6 years
B. 5 years
C. 3 years
D. 7 years
92. Under the PRC law, a practicing professional is defined to be a person who:
A. Name is entered in the PRC registry book
B. Passed the licensure examinations
C. Paid the fees for professional license
D. Name and License are entered in the PRC registry book
93. The PRBRES may cluster the examination subjects for the Real Estate Brokers
Licensure Examinations which is clustered into:
A. 3 subjects
B. 5 subjects
C. 4 subjects
D. 8 subjects


94. Aside from RA 9646, the law that governs the current practice of real estate
service is:
A. Ministry Order No. 39 series of 1985
B. Subdivision and Condominium Buyers protective decree
C. Local Government Code of 1991
D. HLURB Rules of Procedure
95. The real estate broker, aside from the license is required to pay yearly professional
tax which is due for payment every year on or before:
A. January 15
B. January 31
C. January 20
D. April 15
96. A community tax must be paid by the real estate broker to the treasurer of the
local government which should not be later than:
A. January 31
B. February 28
C. Last day of February
D. Last day of January
97. The first professional summit was held by the PAPRB in cooperation with the
PRC in Manila last:
A. October 2012
B. November 2011
C. October 2010
D. December 2012
98. A judgment or decision of the Professional Regulation Commission become final

and executory within a period of:
A. 15 days from receipt of judgment
B. 10 days from receipt of judgment
C. 15 days from the date of decision
D. 30 days from receipt of decision
99. President Noynoy Aquino has declared the Philippine Professionals

Competitiveness Week every year during the period:
A. 1st week of October
B. 4th week of October
C. 2nd week of October
D. 3rd week of October


CODE OF ETHICS AND RESPONSIBILITIES
1. The power to adopt the Code of Ethics and Responsibilities, under the RESA law
shall be under the:
A. Professional Regulatory Commission
B. Professional Regulation Commission
D. Professional Regulatory Board of Real Estate Service
Note: The keyword is adopt. The powers to prescribe and issue the code of ethics is
vested on the AIPO.
2. The following person is not covered by the Code of Ethics and Responsibilities
for real estate service practice:
A. Real estate salespersons
B. Real estate appraisers
C. Real estate dealers
D. Real estate brokers
3. The code of ethics and responsibilities as provided under the RESA law shall be
prescribed and issued by the:
A. National Association of Real Estate Service Practitioners
B. Accredited and Integrated Professional Organization
C. Professional Regulatory Board of Real Estate Service
D. Professional Regulation Commission
Note: Keywords are prescribe and issue.


4. Before the RESA, the code of ethics under the DTI was referred to as:
A. National code of ethics
B. National code of ethics for Real Estate service
C. National code of ethics and responsibilities
D. National code of ethics for the Realty Service Practice
5. Under the then code of ethics the realty service is considered the following and
not a:
A. Calling
B. Profession
C. Business
D. Occupation
6. As per the definition of real estate service practitioners under the RESA law, the
code of ethics no longer covers the following:
B. Real estate consultants
C. Real estate appraiser
D. Real estate brokerage partnership
Explanation: Under the RESA Law and its IRR Section 3 (g) 1-5, a real estate service
practitioner should be a natural person, meaning the person must be an individual. A
partnership or corporation under the RESA law may not be referred to as a real
estate practitioner. However, an individual real estate practitioner may practice in a
corporation or partnership.
7. Under the code of ethics it does not include the relation of the real estate service
practitioner to the:
A. Government
B. Developer
C. Public
D. Client
8. Attendance in a continuing professional education is provided also in the code of

ethics under the following provision:
A. Adequate knowledge, competence and expertise in real estate
development and management shall be maintained.
B. The spirit of camaraderie, corporation and professional relationship of other
practitioners shall be promoted.
C. Their dealings with each other shall be fair, honest and just.


D. A high level of respect relationship with colleagues in the Realty Service
Practice shall be maintained
9. The statement do unto others what you want others to do unto you is referred to
as the:
A. Golden rule
B. Spirit of Camaraderie
C. Respect for others
D. Good manner and right conduct
10. As to their relation with the government, the practitioner is not required to secure
the following:
A. Permits
B. License
C. Authority to pay surety bond
D. Required registration
11. The real estate broker is not required under the code of ethics and the RESA to
secure the following before engaging in practice:
A. Payment of professional tax
B. Postal ID
C. Professional Identification Card
D. Certificate of Registration with PRC
12. The following act should not be done by the broker and is unethical:
A. Share commission as agreed
B. Split commission with an unlicensed broker
C. Agree to revise commission sharing
D. Accept the arrangement for reduction in commission as agreed
13. The owner requested the broker on how to reduce the capital gains tax to be paid.
It is unethical for the broker to recommend the following:
A. To pay the capital gains on time
B. To undervalue the sale price
C. To pay in managers check to the bank
D. To pay transfer tax to the city treasurer
14. If one participates n the undervaluation of the sale, the broker is deemed to have
violated his relation to the:
A. Public
B. Client


C. Government
D. Organization he belongs
15. As a real estate broker, one is not required to indicate the professional license
number in the following documents:
A. Advertisements
B. Deed of absolute sale
C. Letterhead
D. Calling cards
16. The practitioner must display the following in their place of business as provided
in the code of ethics:
A. AIPO receipt
B. Professional Identification Care
C. Surety bond
D. Certificate of registration
17. The statement that the practitioner should be imbued with a social conscience for
he does not live by himself and his family alone can be said to reflect the
following idea:
A. No man is an island
B. Network with others
C. Better to live inside a subdivision
D. Join a professional organization
18. Acts of treating others irrespective of political beliefs, cultural background sect,
religion or class is to have no:
A. Religion
B. Partisan politics
C. Foreign friends
D. Discrimination
19. An act that can be said to be unethical in dealing with a real property being sold
by the owner:
A. Conceal relevant information
B. Avoid exaggeration
C. Refrain from misrepresentation
D. Ascertain all material facts on the property
20. A real estate broker bought a lot in a residential subdivision and it would be
unethical to construct on the property the following:


A. Residential house
B. Duplex residential apartment
C. Piggery
D. His professional office
21. If the owner wants to undervalue the sale price, the real estate broker is expected
to tell the owner:
A. To get a contact with the BIR
B. To undervalue not lower than zonal value
C. To have 2 deeds of sale
D. The true basis of capital gains tax
22. Funds which come into the hands of the real estate broker from the client should
be, under the code of ethics,
A. Deposited in the brokers account
B. Placed in a separate bank account
C. Returned after using the money
D. Just put in the wallet of the broker
23. An accredited real estate salesperson must be under the supervision of the real
estate broker and should indicate:
A. Email address of the broker
B. Name and license number of the broker
C. The website of the broker
D. Name and field of specialization of the broker
24. As part of the obligation under the code of ethics, the broken must, as much as
possible see to it that the agreements are:
A. In writing
B. Notarized
C. In triplicate copies
D. Not required to be in writing
25. In accepting an appointment or a authority to act for and in behalf of a client or

customer, the broker should pledge himself with utmost fidelity and good faith to
protect and promote the interest of his client which means:
A. Be loyal to the client at all costs
B. Loyalty to the client
C. Be only working to the advantage of the client
D. Be unfair to the buyer in favour of the seller


26. A real estate broker uploaded an advertisement of a property in the internet.
Which one would be considered unethical?
A. Property to appreciate in value within a year.
B. With nice view of the lake.
C. With wifi connecion
D. Located in a gated subdivision
27. Considered unethical for a real estate broker, with regards to his professional fee,
is to obtain the same from both parties unless:
A. The owner did not know he will get a fee from the buyer
B. The buyer was informed ahead of time.
C. The parties were not informed by the broker.
D. The owner and seller knows and both agreed
28. For one to put up a for sale sign on the lot of the owner. The real estate broker
must:
A. Put a descent sign
B. Make sure the sign is very visible
C. Use only a tarpaulin signage
D. Be authorized by the owner
29. If the real estate broker already saw another sign for sale of another broker, under
the code of ethics, the broker must:
A. Remove the sign before putting his sign
B. No longer put his or her sign for sale
C. Put the sign at least 3 meters away
D. Cover the sign of the other broker
30. Mr. Rizal decided to sell his lot for 5,500,000.00 pesos although the broker knew
it can be sold for 7 million pesos and the zonal value is 6,500,000.00. What price
should the broker offer to sell the house?
A. 5.5 million
B. 6 million
C. 6.5 million
D. 7 million
Note: Although selling the property at a higher price will benefit a brokers client, a
broker must sell the property according to the authorized price desired by the seller.
If the broker wants to sell the property at a higher price, the broker must ask the
sellers consent.


31. The code of ethics provides that the real estate broker in a real estate transaction
should:
A. Always make sure the seller is at an advantage
B. Have the seller and buyer conclude a fair deal
C. Be in favour of the seller always
D. Be inclined to just think of the commission
32. In a court case, the real estate appraiser was called to testify and under the code of
ethics he must testify in a manner:
A. To protect the interest of the client
B. To protect his interest
C. To protect both their interests
D. To testify in a truthful manner
33. A licensed real estate appraiser can undertake the appraisal of the factory and
plant under the following:
A. With assistance from one familiar with the appraisal of such
B. Is also a licensed real estate broker with experience
C. The owner is not in a hurry
D. He or she gained experience as an assessor
34. The real estate broker should not solicit a listing which is currently listed
exclusively with another broker unless the listing agreement has expired and:
A. The broker already met the owner
B. The broker knows the contact no. of the owner
C. Solicit the same from the owner
D. The owner offer to list the same to the new broker
35. Real Estate Broker Carl accepted a listing from another Broker Kevin. The agency
of Broker Kevin who offers the listing should be respected until it has expired
and:
A. Broker Carl is able to contact the owner
B. Come to the attention of Broker Carl from a different source
C. Broker Kevin does not answer his text messages
D. Broker Carl solicits the listing from the owner
36. As to negotiations on a property listed exclusively with one broker, it should be

through the listing broker and not the owner except:
A. The listing broker has consented
B. The listing broker is just new
C. With consent of the owner


D. The listing broker is not knowledgeable
37. When a client asks the real estate broker for his opinion on a transaction not being
handled properly by another broker, he should:
A. Criticize the manner of handling by the other broker
B. His opinion should be done with courtesy and professional respect
C. Simply say No comment
D. Point out the errors committed by the other broker
38. 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 experience on the transaction
B. Use the advantage of his experience over the new broker
C. Try to put one over the new broker
D. Keep quit when asked for advice by the new broker
39. So that no controversy or misunderstanding arises between the 2 brokers dealing

on the sale of the lo, the code of ethics requires
A. The two brokers assume the sharing will be 50-50
B. Discuss the sharing only when the professional fee is received
C. Discuss and clear the commission arrangement beforehand
D. The broker who transferred the title to the buyer should get more
40. Broker AJ has a complaint against Broker JM who belonged to the same real
estate service organization. Broker AJ must therefore:
A. Exhaust remedies within their organization
B. File the case in court.
C. Tell other members openly about his complaint
D. File an administrative case with PRC
41. For violation of the code of ethics the following penalty may be imposed by the
brokers professional real estate organization:
A. Suspension of license
B. Removal of license
C. Removal from roster of registered real estate brokers
D. Expulsion from the organization
42. Which of the following acts can be considered to be unethical for a real estate
broker:
A. The broker should cooperate with other broker on property listed.
B. The broker should seek no unfair advantage over his fellow brokers


C. The broker should share the commission on an agreed basis
D. The broker can use the services of the salesman of another broker
provided he pays the salesperson a commission
43. A 2 story house and lot was being rented out by the owner and listed it through
several brokers. A broker who also obtained the listing can place his for rent signs
if authorized by the owner and only if:
A. It is placed not less than 2 meters away from the other sign
B. It does not exceed 2 signs for rent
C. His sign is not more than 2 meters by 2 meters in size
D. There is no sign placed on the property
44. Several offers for the purchase of the property were submitted by the real estate
broker to the owner and then another offer to purchase was received by the real
estate broker. What should the real estate broker do?
A. Wait for the owner to decide first before giving the latest offer
B. The latest offer should be presented to the owner for his decision
C. Tell the purchaser that his offer will have to wait till owner decides
D. The real estate broker should tell the buyer to revise his offer
45. In his brochures, advertisements or announcements, the real estate broker should
present a true picture of the property and is not required to indicate the following:
A. Liens or encrumbrances on the property
B. Rights or interest over the property
C. Name and firm name
D. Field of specialization as a real estate broker
46. The following is considered unethical for the real estate broker to do when selling
a house and lot:
A. To have the house cleaned before bringing the buyer.
B. To open the windows of the house before bringing the buyer
C. To tell the buyer there are many buyers interested although there are
only a few interested buyers
D. To pass through a better road instead of the road with squatters
47. If a broker is a member of an organization, the real estate broker should not
engage in the following:
A. Electioneering during the annual elections
B. Be an officer and serve if elected
C. Pay on time the dues of the organization
D. Support the programs or the organization


48. In case a real estate broker is also a real estate appraiser, he or she may not
appraise the property of his client if:
A. He will not be paid a professional fee
B. He will also sell the property after appraising it
C. The owner wants a predetermined price of the property
D. He is a new real estate appraiser
49. As to the following acts of a real estate broker, which one can considered within
the bounds of the code of ethics?
A. Encouraging the seller to undervalue the sale price
B. Delay the submission of an offer of another buyer
C. Willingly share his experience with new brokers
D. Criticize publicly another broker for his manner of selling
50. As a real estate broker, it is ethical to do the following acts. Which one however is
not ethical:
A. Engage the service of the salesperson of another broker without
informing the broker concerned.
B. Share professional fees as agreed with the other broker
C. Publish a listing of another broker only with his consent
D. Not give rebates or split commission with an unlicensed real estate broker
FUNDAMENTALS OF PROPERTY OWNERSHIP
1. Ownership of real estate in the Philippines is foremost and primarily governed by:
A. Special laws enacted by Congress
B. 1987 Philippine Constitution
C. 1935 Philippine Constitution
D. New Civil Code provisions of Property Ownership
Note: The keywords are foremost and primarily governed which is somewhat
synonymous with fundamental. The 1987 Constitution is the fundamental law of the
land. There are three classes of laws: (1) fundamental law, example is the
constitution; (2) general law, examples are Civil Code, Penal Code, Corporation
Code etc. (3) Special laws, examples are RESA Law, MACEDA law etc.
2. When a person speaks of the principle that all lands of the public domain belong
to the State. It is referred to as:
A. Land ownership doctrine
B. Regalian Doctrine


C. Real Estate Ownership Doctrine
D. State Ownership of land doctrine
3. The maximum amount of foreign ownership of a trading corporation which

intends to buy land shall be:
A. 40%
B. 50%
C. 30%
D. 60%
4. The law that governs the property relations of 2 people who plan to get married in
2013 is referred to as:
A. Family Code of the Philippines
B. The New Civil Code
C. Property Code of the Philippines
D. The Family law of the Philippines
5. The government may dispose or alienate lands of the public domain provided the
classification is:
A. Forest land
B. Residential
C. Agricultural
D. Commercial
6. The _____ share of an illegitimate child in their fathers estate is equivalent to the
share of the legitime of the legitimate child in the share of:
A. Equal share
B. One third share
C. One half share
D. No share
7. It is the power of the state to take private property for the purpose of public use,
provided there is payment of just compensation:
A. Expropriation
B. Police power
C. Escheat
D. Eminent Domain
Note: Please remember that Eminent Domain is the power or right of the State
while Expropriation is the process, both involves the taking of private property for
public use.


8. Ms. Yannie will get married this coming year but does not intend to enter into a
marriage settlement. What will be their property relations after marriage?
A. Relative community of property
B. Conjugal partnership of gains
C. Co-ownership
D. Absolute community of property
Explanation: In determining property relations between spouses, the examinee must
consider the following:
First, the date of marriage: If the date of marriage is before 03 August 1988 and there
is no marriage settlement or pre-nuptial agreement, the property relations shall be
conjugal partnership of gains; If the date of marriage is on or after 03 August 1988
and there is no marriage settlement or pre-nuptial agreement, the property relations
shall be absolute community of property.
9. In case a person owns a piece of land, it can only be used for legal purposes and
the government may exercise its power referred to as:
A. Police power
B. Government restrictions
C. Land use plan
D. Building permit
10. One of the most important rights of someone who owns agricultural land and
which part of the bundle of rights of an owner is:
A. Right to harvest
B. Right to dispose
C. Right to plant
D. Right to sell the harvest
Keywords: part of the bundle of rights, the other choices are not part of the bundle
of rights.
11. Under the 1987 Philippine Constitution the government may transfer land to a
Filipino Citizen by homestead provided the size does not exceed:
A. 1,000 square meters
B. 12 hectares
C. 5 hectares
D. 10 hectares
12. There are 2 main types of limitations on the right of ownership over land, one of
which is legal or by the government while the other is:
A. Private limitation
B. Self imposed limitation


C. Deed of Restrictions
D. Contractual
Explanation: There are two major kinds of limitations: (1) legal or by the government
(2) contractual or imposed by the party/ies. The other options are all types of
contractual limitations as a Deed of Restriction for example is a contract entered into
between the developer and buyers as to the things prohibited in a condominium or
subdivision project.
13. Ms. Heart 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. Separation of Property
C. Co-ownership
D. Absolute community of property
14. 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
Explanation: Keyword is deposited soil, and alluvium or alluvion is the soil which
is the product of accretion. An examinee must master the difference among: (1)
accession the right to the fruits and anything attached to the soil either naturally
or artificially (2) accretion which is the process of gradual and imperceptible
deposit of soil to a land along the river (3) alluvium the soil product of accretion (4)
Avulsion the sudden deposit of a determinable parcel of land and the direct
antonym of accretion.
15. A Filipina got married to a foreigner in August 3, 1998. In such case, the Filipina
may still buy land in the Philippines provided:
A. She has not renounced her citizenship
B. She becomes a dual citizen
C. She buys land under BP 185
D. She buys a maximum of 1,000 square meters of residential lands only
Note: Marriage to a foreign national does not automatically make a Filipina a
foreigner as to disqualify or limit her capacity to buy land. The other choices assumes
that the Filipina has lost her Filipino citizenship.


16. An owner is obliged to utilize the land not only for himself but also for the
general welfare, is referred to as the principle of:
A. Steward Concept of Ownership
B. Beneficial use of ownership
C. Public welfare
D. Bundle of Rights
17. An owner is said to be an owner in fee simple, which means that the owner::
A. Has the bundle of rights
B. Has a certificate of title
C. Hs bought the property
D. Has the right to sell the property
18. The best evidence of ownership of a 1 bedroom condominium unit that a person
has is:
A. Condominium dues payment
B. Tax declaration of the condominium unit
C. Original certificate of title
D. Condominium Certificate of title
19. A proceeding which the government undertakes in the exercise of its power to
take private property for road widening and payment of just compensation.
A. Exercise of State Power
B. Expropriation
C. Eminent Domain
D. Road widening
Note: Expropriation is the power while Eminent Domain is the process or remedy, of
taking private property for public use upon payment of just compensation.
20. A natural born American Citizen from Hawaii may own a house in the Philippines
which may be possible under this condition:
A. He leases the land and builds a house
B. He becomes a dual citizen
C. He marries a Filipina
D. He avails of the special retirees resident visa
Explanation: The prohibition for foreign nationals is on ownership of land but does
not prohibit the foreigner to lease the land and own a house. Option B is not an
answer since the dual citizenship law is only applicable to former natural born
Filipino citizens. Option C is not an answer since marriage does not make a foreigner
a Filipino citizen under Philippine laws. Option D is not the answer because the


Special Retirees Resident Visa is only applicable to retirees and it only capacitates
the foreigner to own 100% interest in condominium projects.
21. The daughter of a Filipino went abroad and then became a foreign citizen. The
daughter may still own land in the Philippines upon the death of the parents by:
A. Acquiring dual citizenship
B. Marriage to a Filipina
C. Hereditary succession
D. Donation from the parents
Keyword: death, in Hereditary Succession, an heir acquires ownership of real
property upon the death of the decedent, it is also one of the modes of acquiring
ownership wherein a foreigner or a former natural-born Filipino citizen may acquire
or own land.
22. For one to have a property relation of complete separation of property the future
spouses must execute this document before marriage:
A. Prenuptial agreement
B. Marriage contract
C. Affidavit of waiver
D. Judicial separation of property
Note: A pre-nuptial agreement is the popular name for the legal term marriage
settlement. A complete separation may be agreed upon before the marriage in a
marriage settlement. After and during the marriage the parties may generally neither
by agreement nor waiver separate their properties. Separation of property of the
spouses during the marriage may be granted only by the courts thru the judicial
separation of property provided the appropriate grounds are present. The properties
of spouses are separated during their lifetime also during legal separation,
annulment, and declaration of nullity of marriage.
23. It is the right of a person to the fruits of a property even if the property is not
owned by the said person.
A. Usufruct
B. Harvest agreement
C. Tenancy arrangement
D. Lease agreement
Keyword: fruits, etymologically Usufruct is the combination of the latin words
usus meaning use and fructus meaning fruits.
24. 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, 1988
C. August 3, 1998
D. August 8, 1992
25. 2 people desire to get married under the Family Code of the Philippines, it is now
required that their ages should be:
A. 16 years old with parents consent
B. 14 for the girl, 16 for the boy
C. 18 years old for both
D. 21 years old for the boy and 18 years old for the girl
26. It is a voluntary limitation on ones right of ownership to land:

A. Deed of Restrictions
B. Building code
C. Land use Plan
D. Zoning
Explanation: The only contractual or voluntary limitation in the choices is the Deed
of Restrictions, all the others are legal limitations.
27. 2 neighbors enter into a sale of a house and lot in cash. This type of transfer is
referred to as:
A. Private grant
B. Involuntary grant
C. Installment grant
D. Adjacent owner grant
Note: A private grant refers to a contractual transfer of ownership between private
persons while public grant is a transaction or official governmental act which
involves the state or government. The terminologies focus on the capacity of the
grantors. Also important are the terms: involuntary grant which means a transaction
which is imposed upon the person due to either a legal provision like forfeiture for
non-payment of taxes or contractual stipulation just in the case of an extrajudicial
foreclosure sale arising out of a real estate mortgage; and voluntary grant wherein
the parties have deliberately entered into a contract without imposition due to legal
or contractual obligations. The terms involuntary and voluntary grant therefore
focuses on deliberate will of the parties and not on the nature of the transaction as
either public or private.
28. A foreigner married a Filipina who then bought a house and lot and the Register
of Deeds required the foreigner to execute an affidavit of waiver of his rights over
the property. The affidavit of waiver is:
A. Valid


B. Voidable
C. Void
D. Required for issuance of title
Note: In the past, it has been an accepted practice that before a Filipina wife married to alien
husband registers a real property under her name, the Register of Deeds, as a matter of pre-
requisite, requires that an affidavit of waiver of rights executed by the foreigner spouse must
also be presented (LRA Consulta No. 2738, June 23, 2000). However, in subsequent Consulta
Nos. 3543 and 3554 dated March 12, 2003, the LRA Administrator has ruled that the
requirement of such affidavit of waiver of rights is a mere surplusage as it serves no useful
purpose, other than being void.
29. A Filipino who become a German citizen may still buy land in the Philippines for
business purposes provided:
A. He is a former natural born Filipino citizen
B. He buys only up to a maximum of 1,000 square meters
C. He executes an affidavit under BP 185
D. He will permanently reside in the Philippines
Explanation: A is the better answer because we must first determine that such
Filipino is natural born. There are generally two kinds of Filipinos: (1) natural born
(2) naturalized {meaning a foreigner who applied for Filipino citizenship}.
30. Mrs. Chui got married last August 2012 but her father donated to her a
condominium unit in Rockwell Makati Before she got married. In such case, the
property will be considered:
A. Conjugal property
B. Exclusive property
C. Separate property
D. Community project.
31. A foreigner may own land in the Philippines through hereditary succession, but is
required that the foreigner that the foreigner must be:
A. A legal heir
B. A resident o the Philippines
C. A dual citizen
D. A citizen and resident
Note: By legal heir, the law contemplates that ownership be transferred by legal or
intestate succession. Thus, a foreigner may not acquire land solely by virtue of
testamentary sucession or by will.
32. When it is the sole property of the wife which she inherited when she was already
married, it is referred to a:


A. Capital property
B. Conjugal property
C. Community property
D. Paraphernal property
33. This principle states that the citizenship of a person shall be based on the location
of birth of a person is called:
A. Jus soli
B. Jus sanguinis
C. Jus locandi
D. Dual citizenship
Note: In Philippines, generally citizenship is acquired jus sanguinis or by blood.
Therefore, one may have dual citizenship by operation of laws as when a baby was
born of Filipino parents but was born at the US where jus soli is in effect. It must be
born in mind that RA 9225 or the dual citizenship law does not apply to dual citizens
by operation of law who need not perform any positive act.
34. To apply as a dual citizen of the Philippines under RA 9225, one must be a former
natural born Filipino and do the following:
A. File a petition with the Bureau of Immigration
B. Renounce his or her foreign citizenship
C. File for permanent residency
D. File an application with Department of Foreign Affairs
Note: Clearly then, to be a dual citizen under RA 9225 there must be a positive act on
the part of former natural born Filipino citizen. In other words, an applicant must do
something in order to have two citizenships.
35. Cerina and Douglas were both 18 years old but decided not to get married yet and
just lived as husband and wife. Their property relations shall be:
A. Co-ownership
D. Sole property of each other
36. Chris Cruz Orimo former natural born Filipino became a Japanese citizen and
now wants to buy a lot in a subdivision in Bacoor Cavite. He may do so under BP
185 and if in a rural area, the area should not exceed:
B. 1,000 square meters
C. 1 hectare
D. 20 hectares


37. Maria got married last June 1998 but now separated from her husband. In case she
inherited property when she was still single, she can still sell the property
provided:
A. She gets the consent of her husband.
B. No consent of the husband is required
C. They have been separated for more than 7 years
D. She is legally separated
Note: Letter A is the correct answer because the property remains to be part of
community property as the separation appears to be merely in fact and the problem
did not state any valid ground for legal separation. Separation, when not modified by
the word legal should only be considered separation in fact only, meaning: there is
no court order to legalize the separation. Letter D is not an answer because when
there is legal separation one of the effects is the dissolution of the community
property (meaning the community property is divided into two shares). It does not
necessarily follow that when there is legal separation a wife may sell the property
without the consent of anybody. It is possible that the share of the guilty spouse is
forefeited in favor of their common children who may be of legal age and
consequently should give consent as to the other half of the community property.
38. A natural born Filipino neighbour migrated to the United States and became an
American but now wants to do business in the Philippines and acquire land in
Bonifacio Global City. What is the maximum area that your friend can purchase
under the Foreign Investment Act?
B. 3,000 square meters
C. 500 square meters
D. 5,000 square meters
39. An owner of a house borrowed money from the bank but failed to pay his loan
and the property was sold at a public auction. This is referred to as a method of
acquiring title by:
A. Voluntary grant
B. Private grant
C. Foreclosure grant
D. Involuntary grant
40. The sole property of the husband is also called:

A. Capital property
C. Separate property
D. Community property


41. Acquisition of land under the Foreign Investments Act is allowed for business
purpose but cannot be done for the purpose of:
A. Agriculture
B. Manufacturing
C. Buying and selling
D. Leasing of land
42. The government may own real property such as when a person dies intestate and
with no heirs under the principle of:
A. Inheritance
B. Government grant
C. Eminent Domain
D. Escheat
43. MB corporation engaged in the corn business wanted to expand its plantation and
lease more land from the government, but it can do so provided the maximum area
does not exceed:
A. 500 hectares
B. 5 hectares
C. 1,000 hectares
D. 5,000 hectares
44. A husband and wife cannot sell property to each other, except if their property
relations is separation of property or:
A. They have a marriage settlement
B. They have a judicial separation of property
C. They have no children
D. They execute a joint affidavit of waiver
Note: Before marriage, there could be a separation of property relations between
husband and wife through the execution of a pre-nuptial agreement or marriage
settlement. During the marriage, a spouse may file in court a judicial separation of
property if there is a ground for such separation.
45. Mr. Manny sold their conjugal house and lot to the buyer but did not get the
consent of his wife Andrea, Andrea may question the sale still provided she does
so within a period of how many years from date of sale?
A. 2 years
B. 5 years
C. 10 years
D. 1 year


Note: However in the case of Spouses Fuentes vs. Roca et al it was ruled:
In contrast to Article 173 of the Civil Code, Article 124 of the Family Code does not
provide a period within which the wife who gave no consent may assail her husbands
sale of the real property. It simply provides that without the other spouses written
consent or a court order allowing the sale, the same would be void. Article 124 thus
provides:
Art. 124. x x x In the event that one spouse is incapacitated or otherwise
unable to participate in the administration of the conjugal properties, the
other spouse may assume sole powers of administration. These powers do not
include the powers of disposition or encumbrance which must have the
authority of the court or the written consent of the other spouse. In the
absence of such authority or consent, the disposition or encumbrance shall be
void. x x x
In view of the foregoing, there is no answer among the choices and option B is just
the best answer given the choices. The five (5) year period is actually the time given
for a wife to assail the husbands acts of administration of conjugal property as his
decision prevails in case of disagreement. Acts of administration are merely the day
to day incidents of handling a conjugal property like renting out a commercial space
owned by both spouses. The sale of such commercial space however is governed by a
different rule, one of which is the imprescriptibility (no period of prescription) of
assailing a sale of a spouse made without the consent of the marital partner
considering that it is void.
46. The best evidence of ownership is the Torrens certificate of title, as it is

considered imprescriptible and _____________
A. Indefeasible
B. Registered
C. Can be verified
D. With original copy with the Register of Deeds
47. A foreigner, under the Foreign Investors Lease Act, may lease land in the
Philippines for 50 years and renewable for another:
A. 10 years
B. 20 years
C. 25 years
D. 50 years
Note:
Constitutional Limits on Property of Public Domain
Private corporations or associations may not hold such alienable lands of the public
domain except by lease, for a period not exceeding twenty-five years, renewable for
not more than twenty-five years, and not to exceed one thousand hectares in area.


Citizens of the Philippines may lease not more than five hundred hectares, or acquire
not more than twelve hectares thereof, by purchase, homestead, or grant.
General Law Limits: Civil Code

Art. 1643. In the lease of things, one of the parties binds himself to give to another
the enjoyment or use of a thing for a price certain, and for a period which may be
definite or indefinite. However, no lease for more than ninety-nine years shall be
valid.
Special Law
For foreigners who lease for non-investment purposes:
Foreign individuals, corporations or associations may lease land for a period of 25
years renewable for another 25 years. (P. D. No 471, Fixing a Maximum Period for
the Duration of Leases or Private Lands to Aliens)
For foreigners who lease for investment purposes:
* Foreign companies or individuals investing in the Philippines may receive
government permission to lease land for up to 50 years renewable for another 25
years. (Republic Act No. 7652, otherwise know as the Investors Lease Act)
48. In addition to the process of naturalization, a foreigner may also become a

Filipino Citizen through:
A. Marriage to a Filipino
B. Residency in the Philippines for 10 years
C. Act of the legislature
D. Born before the 1935 Philippine Constitution
Note: This is when Congress passess a special law in order to make a foreigner a
Filipino citizen, like the Philippines plan on passing a law declaring Brooklyn Nets
Player Andray Blatche a Filipino citizen for the FIBA World Basketball
Championship at Spain.
49. Under the law, the following person cannot acquire land of the person under
whom the administration of the property is given:
A. Relative up to first degree of consanguinity
B. Legal guardian
C. Real estate property manager
D. Eldest sibling
Note: An examinee must remember that there are certain persons who are absolutely
disqualified by law to acquire lands or real property of persons who have fiduciary or
relationship of trust and confidence with them. Another example is the purchase by
the broker of the property of his principal


50. A female child was born of parents who could not marry because they were both
minors at the time of birth of the child and is classified as:
A. Illegitimate child
B. Natural child
C. Legitimate child
D. Acknowledge child
Note: Any child born out of wedlock is an illegitimate child.
51. IF NED Corporation wanted to lease lands of the public domain, the lease can
only be for a period of:
A. 25 years renewable for another 25 years
B. 25 years
C. Up to 99 years
D. 50 years
52. Your neighbour who owns the parcel of land behind your property. A wanted to
pass through your property and is referred to as:
A. Right of way easement
B. Passageway
C. Access right
D. Public access
53. The spouses Dela Cruz who lived in the province had a river behind their lot
where trough the gradual deposit of the soil by the river resulted in additional land
and is referred to as a mode of acquiring title by:
A. Accretion
B. Alluvium
C. Prescription
D. Reclamation
54. Frank Gordon, a British wanted to buy a piece of land in Pasig 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. 50%
B. 51%
C. 60%
D. 40%
55. Hermione and Ashton got married last 1976 but did not have a marriage
settlement prior to their marriage. Their property relations will be:
A. Community of property


B. Separation of property
C. Absolute community of property
D. Relative community of property
Note: Relative Community of propety is synonymous to Conjugal Partnership of
Gains.
56. The marital consent of the husband is not required in the sale of the following
property of a couple who got married in 1986 when:
A. It was bought by the couple during marriage
B. It is inherited property of the husband
C. It was bought with exclusive money of the wife
D. It was bought after August 3, 1988
57. Under the Foreign Investors Lease Act, a foreigner may lease land in the
Philippines for 50 years and may be renewed for:
A. 20 years
B. 10 years
C. 25 years
D. 50 years
58. Mang Tonyo 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 and if he has been in possession for at least:
A. 20 years
B. 10 years
C. 25 years
D. 50 years
Note: Prescription is a mode of acquisition of property within the period provided
by law. The answer is called ordinary prescription this is when acquisition was made
in good faith. If the acquisition was made in bad faith (meaning the possessor knows
who the real owner is) it is called extraordinary prescription and a period of 30 years
must lapse.
Remember that prescription works only on lands which are not titled or registered
under the Torrens System.
59. Mr. and Mrs. Mauricio got married without marriage settlement. Still their
property relations may be changed still during marriage by:
A. Agreement between the spouses
B. Waiver of the other spouse


C. Order of the Registry of Deeds
D. Judicial Order
60. It refers to the temporary or limited turnover of the use and possession of ones
property to another at an agreed price:
A. Lease contract
B. Contract to sell
C. Usufruct
D. Assignment of rights
61. The mode of acquiring title such as Mall of Asia and which requires government
approval for the filling of submerged land is referred to as:
A. Reclamation
B. Filling
C. Drive Pilling
D. Reclaimed Development
62. Under BP 185, for land to be classified as an urban area, it means:

A. A municipality with a population density of 1,000 persons per square
kilometre
B. An area where here are malls and shopping centers.
C. An area with mass transport system
D. Poblaciones with a population density of 800 person per square kilometres
63. Mario migrated to America in 1980, Born of Filipino parents, he wants to retire in
the Philippines and wants to buy a house and lot in Batangas City. As much, he
must execute this document:
A. Affidavit under BP 185
B. Affidavit of waive
C. Sworn statement of citizenship
D. Sworn statement of land ownership
64. Natural born citizens of the Philippines, who had become a citizen of a foreign
country shall retain their Philippine citizenship under the Dual Citizenship law,
upon:
A. Becoming a permanent resident
B. Renouncing their foreign citizenship
C. Application with the DFA
D. Taking oath of allegiance to the Philippines


65. For prescription as a mode of acquiring title, it requires that possession must be
adverse, continuous, actual and if in bad faith for a period of:
A. 40 years
B. 30 years
C. 20 years
D. 25 years
66. In the absence of an express declaration in the marriage settlements the separation
of property between spouses once married shall not take place except by:
A. Separation de Facto
B. Duly notarized agreement signed by the spouses
C. Judicial Separation of Property
D. Separation of Property agreement
67. Mariz inherited a piece of land in 1986 but she got married in 1987 without any
prenuptial agreement. The said property is considered as:
A. Conjugal property
B. Community property
C. Capital property
D. Paraphernal property
68. The Philippines applies the principle of citizenship based on the citizenship of the
parents and is also referred to as the principle of:
A. Jus soli
B. Jus sanguinis
C. Jus citizen
D. Jus parentis
69. A vacant land in Davao that was echeated to the government because the deceased
left no will and no heirs will be classified as:
A. Patrimonial property
B. Land of the public domain
C. Public state property
D. National property
Note: A real property escheated by the government is classified as patrimonial
property because in here the government acts as if it is a private person and not
strictly as an act of a government.
70. The following person may own land in the Philippines for purpose of either
residence or business purpose, provided the person is:
A. A dual citizen


B. A foreigner married to a Filipina
C. A natural born citizen
D. A permanent resident of the Philippines
71. Under the Philippine Retirement Authority, a foreigner may reside in the
Philippines and will be given a visa referred to as:
A. Non-immigrant visa
B. Tourist visa
C. Special non-immigrant visa
D. Special Resident Retirees Visa
72. If a parcel of land owned by the city is no longer intended for public use. It is
referred to as:
A. Patrimonial property
B. Private property
C. Idle land
D. Public reserved property
73. The minimum amount of Filipino ownership of a real estate corporation which
intends to buy a condominium unit shall be:
A. 40%
B. 20%
C. 60%
D. 100%
74. Any Filipino citizen may apply for a free patent title under RA 10023 and in case
of first and second class municipalities, the same should not exceed:
A. 200 square meters
B. 650 square meters
D. 1000 square meters
75. A child born out of wedlock from minor parents, but who eventually got married,
will now be classified as:
A. Legitimate
B. Illegitimate
C. Spurious child
D. Acknowledged natural child
Note: The process is called legitimation.


76. A sale of parcel of land, bought by a foreigner who was not allowed to own land,
sold eventually to a Filipino citizen is considered:
A. Void
B. Of no effect
C. Valid
D. Voidable
Note: The Supreme Court had an occasion to state that the rationale behind the
Courts ruling in United Church Board for World Ministries, as reiterated in
subsequent cases, is this since the ban on aliens is intended to preserve the nations
land for future generations of Filipinos, that aim is achieved by making lawful the
acquisition of real estate by aliens who became Filipino citizens by naturalization or
those transfers made by aliens to Filipino citizens. As the property in dispute is
already in the hands of a qualified person, a Filipino citizen, there would be no more
public policy to be protected. The objective of the constitutional provision to keep our
lands in Filipino hands has been achieved.
It could be thus inferred that there are two transactions considered valid by the
ruling:
1. acquisition of real property by a foreigner who at the time of the sale was a
foreigner but who eventually became a Filipino citizen by naturalizaton;
2. transfers made by a foreigner to Filipino citizens.
77. For a Filipino, now 33 years old and who is now a citizen of New Zeland, to be
able to acquired land under BP 185, the person should:
A. Be born of at least 1 Filipino parent
B. Be a dual citizen
C. Not buy more than 5,000 square meters of urban land
D. Be residing in the country within 3 years
78. Property reserved for compulsory heirs of the decedent is referred to as:
A. Legitime
B. Inheritance
C. Free portion
D. Hereditary succession
79. A former natural born Filipino may acquire land in a rural urea not exceeding 3
hectares for business purpose under:
A. Foreign Investors Lease Act
B. Batas Pambansa Blg 185
C. Foreign Investment Act of 1991
D. Real Estate Investment Trust


80. A couple married in August 3, 1998 entered into a marriage settlement but was
declared void by the court. Their property relation shall be:
A. Absolute community of property
C. Separation of property
D. Relative community of property
81. The following is not considered a public grant:

A. Sales patent
B. Free patent issued by the government
C. Sale by city treasurer due to delinquent real estate taxes
D. Homestead grant
82. An illegitimate minor child may use the surname of the father who is married to
another, provided:
A. The father executes an affidavit of acknowledgement
B. The mother agrees
C. The child is not over 7 years of age
D. The father and mother eventually marries
83. Land acquired through public action due to non-payment of delinquent real estate
taxes is a grant referred to as:
A. Public grant
B. Private grant
C. Involuntary grant
D. Foreclosure grant
84. When a person inherits real estate from the deceased who died with a will but
which was declared void, would be an inheritance through:
A. Hereditary succession
B. Intestate succession
C. Testate succession
D. Testamentary succession
Note: A and B are synonymous, another similar term is legal succession; C and D are
synonymous as well. B is the best answer as the Civil Code uses this term more often.
85. A Filipina who married last August 3, 1988 may sell her property to her husband
provided:
A. She bought the same before August 3, 1988
B. She makes a waiver
C. She has a judicial separation of property


D. She bought in through her own money
86. The general classification of property under the Civil Code is that one is classified
as movable property and the other is:
A. Personal property
B. Real property
C. Immovable property
D. Real Estate
87. A foreigner who was given Filipino citizenship through a law under a Republic
Act approved by Congress may now own land under:
A. BP 185
B. 1987 Philippine Constitution
C. Foreign Investment Act of 1991
D. Dual Citizenship law
88. In case 2 people both single, lived in together as husband and wife last 2012 up to
now, their property relations shall be governed by:
A. Co-ownership
B. Absolute community of property
C. Separation of property
D. Pro-rated to their contribution
89. A proceeding which the government undertakes in the exercise of its power to
take private property must be with payment of just compensation and for the
purpose of:
A. Public use
B. Road widening
C. Land banking of the government
D. Socialized housing
90. A woman inherited property before marriage and married in 1989 without a
marriage settlement. Her said properties will be classified as:
A. Paraphernal property
D. Capital property
91. The children inherited property from their father who just died. The rights over
the property shall be deemed transmitted to the heirs:
A. Upon payment of the estate taxes


B. Upon Death of the father
C. Upon transfer of the title in their names
D. Upon settlement of the estate of the father
92. A foreigner may inherit and own real property located in the Philippines, provided
that the foreigner must be:
A. A legal heir
B. A natural born Filipino
C. A dual citizen
D. An heir
93. The following is not considered as an involuntary grant:

A. Sale through execution sale
B. Sale through foreclosure sale
C. Sale of condo unit to a foreigner
D. Sale through auction sale due to unpaid real estate taxes
94. A couple got married in 1986 with a marriage settlement that their property
relations will be under separation of property. The marriage settlement to be valid
must be executed
A. Before marriage
B. Anytime during marriage
C. Before August 3, 1988
D. Before purchase of any property
95. It is not required for purpose of becoming a dual citizen under R.A. 9225:
A. Petition though the consular office abroad
B. Execute an oath of allegiance
C. Make a renunciation of his foreign citizenship
D. Be a former natural born citizen of the Philippines
96. Which one of the following is considered as a voluntary limitation on ones of

ownership to land?
A. Police power
B. Right of way agreement
C. Taxation
D. Zoning regulation
97. Mario wanted to lease alienable land of the government. In this case the
constitution allow that he may lease up to:
A. 12 hectares


B. 300 hectares
C. 500 hectares
D. 1500 hectares
98. The process by which the current of a river segregates from 1 estate on its bank a
known portion of land and transfers it to another estate:
A. Avulsion
B. Accretion
C. Alluvium
D. Annexation
99. The right of the owner of a parcel of land to receive civil fruits means the
following:
A. Right to receive rent
B. Right to harvest the land
C. Right to sell the produce from the harvest
D. Right to receive money in exchange for the harvest
100. It is not an essential requisite for the exercise of eminent domain by the
government:
A. Must be titled land
B. For public use
C. Payment of just compensation
D. Due process of law
REAL ESTATE LAWS AND TAXATION
1. SMCB Corporation developed a subdivision and was selling lots in the amount of
1.8 million contact price. The sale shall be subjected to a creditable withholding
tax rate of:
A. 1.5%
B. 6.0%
C. 3.0%
D. 2.5%
2. The taxation on ownership of real property by a person is governed by:

A. Local Government Code of 1991
B. Tax Code of 1997
C. National Internal Revenue Code
D. Bureau of Internal Revenue Regulations


3. A parcel of land was sold at 5 million but the BIR zonal value was 4.8 million
while the local assessors fair market value is 2.5 million and it was appraised at
5.5 million. What will be the basis of capital gains tax if sold?
A. Zonal Value
B. Selling price
C. Assessors value
D. Appraised fair market value
Explanation: the appraised value is not a basis for capital gains tax, it is only an
opinion of value made by an appraiser.
4. Or the sale of a property classified as capital asset in the amount of 2,300,000.00

the tax that will be imposed will be:
A. Capital gains tax
B. Creditable withholding tax
C. Percentage tax
D. Value added tax
5. In a sale of a house and lot, the basis of the tax for the improvements shall be
based on:
A. Fair market value in the tax declaration
B. BIR Zonal value
C. Assessed value in the tax declaration
D. Value declared as selling price
6. Foreclosed property of OBB Bank if sold. Shall be classified as what kind of

asset:
A. Ordinary asset
B. Capital asset
C. Depreciable asset
D. Investment asset
7. What is the basis of the capital gains tax on the sale of a commercial lot if the
selling price is 10 million pesos, but the BIR Zonal Values showed that it is 8
million pesos and the Assessors Fair market value is 6 million pesos but actual
value is 12 million pesos, if the owner should want a lower tax to be paid
A. 10,000,000.00 pesos
B. 8,000,000.00 pesos
C. 12,000,000.00 pesos
D. 6,000,000.00 pesos
Explanation: Again, actual value is not a basis for capital gains tax.


8. The tax paid to BIR on a sale of a condo unit used as residence by the owner is
also considered a:
A. Withholding tax
B. Final tax
C. Transfer tax
D. Prepaid income tax
9. The broker was to pay the taxes on the sale to the BIR but missed the due date due
to sickness. How much will be the penalty surcharge?
A. 10%
B. 25%
C. 20%
D. 30%
10. In an auction sale of a foreclosed lot, Mr. Forrester won and the property was not
redeemed. The documentary stamp tax must be paid within:
A. 4 days after auction sale
B. 5 days after the month of auction sale
C. 5 days after month of expiration of redemption period
D. 5 days after registration of auction sale
11. 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. Condominium units sold to the public
D. Vacation house of the owner
Explanation: In simple terms, ordinary assets are those assets used in the ordinary
business of a taxpayer while capital assets are those which are not like the residence
of a taxpayer.
12. A buyer can get the value of the improvements of the house in Quezon City being
sold, which may be found in the:
A. City Assessors Office
B. Bureau of Internal Revenue
C. City Engineers Office
D. Land Registration Authority
13. A lot was sold located in Batangas City, 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 Taguig. Where is the capital gains tax on the sale to be paid?


A. Taguig
B. Batangas City
C. Manila
D. BIR Head office
14. 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 3,000,000.00 pesos.
A. 35,000.00 pesos
B. 90,000.00 pesos
C. 45,000.00 pesos
D. 75,000.00 pesos
15. After full payment of the capital gains tax, the BIR shall issue to the owner the
following document:
A. Certificate and receipt
B. Certificate of payment and tax clearance
C. Certificate authorizing registration
D. Certificate authorizing payment
16. A developer sold a condo unit on Jan 5. Had the sale notarized on Jan 7. Up to
when should the developer pay the documentary stamps tax?
A. March 5
B. February 4
C. February 5
D. February 10
17. The creditable withholding tax for the sale of a lot by a developer is also referred
to as:
A. Final tax
B. Capital gains tax
C. Prepaid income tax
D. Advance withholding tax
18. The following does not have a BIR zonal value:

A. Agricultural land
B. Condominium unit
C. Condominium parking space
D. Building improvements
19. One of the ways to show that one is habitually engaged in the real estate business
for BIR purposes:


A. Registration with PRC
B. Registration with HLURB
C. At least 5 transactions above 100,000 pesos each
D. At least 5 sales transactions the preceeding year
20. In case of socialized housing, the ceiling for the value of the lot as per the BIR is:
A. 225,000.00 pesos
B. 4000,000.00 pesos
C. 160,000.00 pesos
D. 100,000.00 pesos
21. The following sale in 2012 shall be subject to value added tax:
A. Sale of condominium units at 4 million pesos by developer
B. Sale by owner of the house at 5 million pesos
C. Sale of residential house by developer at 2.3 million pesos
D. Sale of residential lot of developer at 1.5 million pesos
Explanation: Again, the determining factor is whether or not the sale of real estate is
part of the business. VAT is a form of business tax.
22. To be exempted on the sale of principal residence, one must inform the BIR of his
intention to avail of exemption within how many days?
A. 60 days from date of notarization of sale
B. 30 days from date of notarization of sale
C. Within 18 months from date of notarization of sale
D. With the first 5 days of the month after the notarization of sale
23. Mr. Gregorio rented a house which he was also using as his office. What will be
the withholding tax on the rent he has to deduct?
A. 5%
B. 3%
C. 10%
D. 8%
24. If the tax declaration of a house and lot in a city is more than 3 years old, the
seller must get a certification it is still the latest from:
A. City Assessors office
B. Bureau of Internal Revenue
C. City Treasurer
D. BIR Zonal Valuation Department of the City


25. How much will be the doc stamps tax to be paid in case a foreclosed property is
redeemed by the owner within the period of redemption
A. 15.00 pesos
B. 1.5%
C. 15 pesos for every 1,000 pesos or fraction thereof
D. 1.5% of the selling price or zonal value whichever is higher
26. The right of redemption already lapsed last January 6 and the winning bidder must
pay the capital gains tax within what period:
A. 30 days from expiration of redemption period
B. 30 days from date of auction sale
C. 30 days from the month of expiration of redemption period
D. 30 days from notarization of auction sale
27. Ms. Angeline a real estate broker, already earned 800,000 in commission for the
first 2 months. Thereafter the withholding tax of Ms. Angeline should be:
A. 15%
B. 12%
C. 10%
D. 5%
28. A manufacturing corporation bought a parcel of vacant lot in a residential

subdivision as the price was very low and attractive. When sold, the corporation
shall be subject to the tax rate on the sale of:
A. 6.0%
B. 5.0%
C. 3.0%
D. 1.5%
Explanation: The manufacturing corporation is not engaged in real estate business.
Thus, the land acquired is a capital asset.
29. To avail of exemption of capital gains tax on sale of principal residence one
important requirement is:
A. Must own only 1 residence
B. Title must be registered under name of a natural person
C. Must have owned the resident for at least 10 years
D. Must buy another property within 18 months
30. The following sale of property is not exempted from value added tax:
A. Sale of socialized housing units
B. Sale of a rented commercial lot worth 3.4 million pesos


C. Sale of house and lot in the amount of 2.5 million pesos
D. Sale of principal residence
31. The amount of exempted capital gains tax in the sale of principal residence shall
be:
A. Held by the taxpayer until a new residence is bought
B. Put in escrow
C. A tax credit for the seller
D. Deposit in the account of the seller
32. A bank foreclosed a condominium unit and after it was consolidated in the name
of the bank sold the property worth 6,500,000.00 pesos. What will be the tax
initially to be paid by the bank on the sale?
A. Creditable withholding tax
C. Income tax
D. Value added tax
33. Mr. Arnulfo sold his principal residence and he may only avail of this exemption
from capital gains tax only once every:
A. 5 years
B. 12 years
C. 10 years
D. 16 calendar months
34. Effective January 1, 2012, the ceiling for exemption from VAT of the sale of a
residential lot has been increased to:
A. 1,500,000.00 pesos
B. 2,500,000.00 pesos
C. 1,919,500.00 pesos
D. 1,900,000.00 pesos
35. A real estate broker will earn 1,800,000 pesos for 2012 in professional fees. The
broker shall be subject to:
A. 3% percentage tax
B. 10% VAT
C. 12% VAT
D. 5% withholding tax
36. An owner will rent out a residential apartment this 2012 and will be exempted
from VAT provided the monthly rent does not exceed:


A. 5,000.00 pesos
B. 10,000.00 pesos
C. 12,800.00 pesos
D. 12,000.00 pesos
37. Spouse Gene and Lyn are both real estate brokers. For 2012 Gene will earn
1,850,000.00 and Lyn will earn 200,000.00 How much will be the VAT paid by
the spouses:
A. 385,000.00 pesos
B. 462,000.00 pesos
C. 240,000.00 pesos
D. 200,000.00 pesos
38. Goliath Realty Inc. sold two adjacent residential lots to Mr. Armando in a
subdivision this March 2012, Lot 1 at 1,800,000.00 and Lot 2 at 2,200,000.00.
What will be the VAT paid by Mr. Armando?
A. 264,000.00 pesos
B. 400,000.00 pesos
C. 480,000.00 pesos
D. Exempted
39. Nino sold his residence to buy a bigger house. He must buy his new residence
within a period of:
A. 30 days from date of notarization of sale
B. 18 months
C. 18 calendar months
D. 12 months
40. In the sale of principal residence and exemption thereof, the following shall be
exempted to the seller:
A. Capital gains tax and documentary stamp tax
C. Value added tax
D. Documentary stamps tax
41. A person who failed to fully utilize the proceeds of the sale of his principal
residence shall be assessed additional deficiency capital gains tax, interest and
penalty of:
A. 50%
B. 25%
C. 20%


D. 10%
42. A developer who will sell a residential condominium unit in 2012 will not be
subjected to VAT if the sale price does not exceed:
A. 2,500,000.00 pesos
B. 1,919,500.00 pesos
C. 3,000,000.00 pesos
D. 3,199,200.00 pesos
43. The law governing taxation of real property for real estate taxes is:
A. Local Government Code of 1991.
B. Local Government Tax Code of 1991
C. Local tax code
D. Local property tax code
44. In local taxation, real property shall be classified for assessment purposes on the
basis of its:
A. Zoning classification.
B. Actual use by the owner
C. Land use plan
D. Actual use by the person in possession
45. An assessor is valuing the property of the land owner must base his value of the
property:
A. On the zonal value
B. On the current and fair market value
C. On the current declared value
D. On the value of the private appraiser
46. The basic real property tax to be imposed by the sangguniang panlalawagin in a
province shall not exceed:
A. 1% of the fair market value of the assessor
B. 1% of the assessed value
C. 2% of the assessed value
D. 2% of the fair market value of the assessor
47. A special levy is the special education fund tax which shall be at a rate of:
A. 1% of the assessed value
B. Not exceeding 1% of the assessed value
C. 1% of the fair market value
D. Not exceeding 1% of the fair market value


48. It refers to the purpose for which the property is principally or predominantly
utilized by the person in possession thereof:
A. Actual use
B. Assessed usage
C. Current use
D. Use classification
49. The government may impose a tax on lands not fully utilized or the idle land tax
not exceeding:
D. 5% of the fair market value
50. To compute for the basic real property tax, the owner will use the formula:
A. Fair market value X tax rate
B. Assessment level X tax rate
C. Assessed value X tax rate
D. Fair market value X assessment level
51. Mr. Nicolas failed to pay his real estate tax due on time and he will be subject to a
penalty equivalent to:
A. 1% per month
B. 2% per month
C. 5% per month
D. 20% per annum
52. In order for the local government to impose and implement the tax due for real
estate taxes for the city, it must be through:
A. Executive order of the Mayor
B. Memorandum of the city council
C. Approved local tax ordinance
D. Resolution of the sangguniang bayan
53. The sangguniang panlalawigan may determine the assessment level for
agricultural land provided it does not exceed:
A. 10%
B. 20%
C. 15%
D. 40%


54. Agricultural lands, more than 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 owners to the extent of:
A. of the land
B. of the land
C. 100%
D. 60% of the land
55. A parcel of land was assessed as commercial at a rate of 45% with a fair market
value of 2.3 million although the zonal value is 3 million. What will be the
assessed value?
A. 1,150,000.00 pesos
B. 1,035,000.00 pesos
C. 1,500,000.00 pesos
D. 1,350,000.00 pesos
56. The assessment level of the improvements of a property owned by Ms. Badette
will be based on the classification and:
A. Assessed value of the improvement of the assessor
B. Fair market value of the improvement of the assessor
C. Zonal value of the improvement
D. Declared value by the owner X tax rate
57. Mr. Mike failed to pay his real estate tax due for 2 years and he will be subject to
a penalty equivalent to a total of:
A. 20%
B. 24%
C. 36%
D. 25%
58. The City of Baguio may provide a discount for early payment of the annual tax in
the discount amount not exceeding:
A. 5%
B. 10%
C. 24%
D. 20%
59. The real estate tax on the house and lot owned by Ms. Eca may be paid without
penalty interest in:
A. 4 payments


B. 2 semi-annual payments
C. Monthly payments
D. 4 equal quarterly payments
60. For real estate taxes, the Local Government Code provides the same accures:
A. On 1st day of January
B. Every end of the quarter for the year
C. Upon notice of assessment
D. Every beginning of the quarter for the year
61. The Idle land tax does not apply to the following property:
A. Uncultivated agricultural land of 3 hectares
B. Land with unfavourable physical factors
C. Rawland of unimproved 5,000 square meters
D. 2 hectares of land suitable for farming of which is unimproved
62. A special levy may be imposed for lands, specially benefited by public works
projects or improvements funded by the local government unit: provided the
special levy shall not exceed:
C. 60% of the actual cost of such projects
D. 50% of the actual costs of projects and improvements
63. The Local Board of Assessment Appeals in the city shall be headed by a
Chairman who shall be:
A. City Assessor
B. Provincial Assessor
C. Register of Deeds of the City
D. City Mayor
64. For late payment of special education fund tax, the lot owner shall be liable to pay
a maximum total interest of:
A. 3 years
B. 5 years
C. Until paid
D. All years unpaid
65. Rolly did not agree with the assessment made by the assessor on his property.
Rolly 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. 45 days from receipt of notice
D. 90 days from receipt of notice
66. In case of an unfavourable decision by the Local Board of Assessment Appeals,

the same may be appealed to the CBAA within:
A. 30 days from receipt of decision
B. 90 days from receipt of decision
C. 60 days from receipt of decision
D. 120 days from receipt of decision
67. Persons who transfer ownership of their property to another have to notify the
assessor within what period:
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
68. In case of payment of real estate taxes under protest, the first thing the taxpayer
must do is to:
A. File a letter of protest
B. Pay the real estate tax
C. File an appeal with the Local Board of Assessment Appeals
D. Request for a reassessment from the assessor
69. The following may condone real estate taxes in whole or in part:
A. City Mayor
B. City Treasurer
C. Provincial Assessor
D. President of the Philippines
70. The local government shall cause a notice of delinquency and thereafter the
property sold at a public auction in case of:
A. Payment under protest
B. Unpaid delinquent real estate taxes
C. Underdeclaration of value
D. Delinquent real estate taxes for at least 5 years
71. In computing the assessed value of the property one will use the following
formula:
A. Fair market value X assessment level


B. Assessed value X assessment level
C. Assessed value X tax rate
D. Fair market value X tax rate
72. In case of all assessments and reassessments made after January 1 of any year the
same shall take effect:
A. Upon approval
B. Upon publication in a newspaper of general circulation
C. On January 1 of the next year
D. 90 days after the reassessment
73. Under the Local Government Code, the owner must file a sworn declaration of
value of the property once every:
A. 2 years
B. 3 years
C. Year
D. Upon general revision
74. What will be the interest monthly in case the owner fails to pay the basic real
estate taxes due in the amount of 5,000 pesos:
A. 1,250.00 pesos
B. 100.00 pesos
C. 125.00 pesos
D. 8.33 pesos
75. No action for the collection of the real estate tax, whether administrative or
juridical shall be instituted after the expiration of:
A. 5 years
B. 10 years
C. 20 years
D. 10 years
76. The special education fund tax collected by the municipality shall be allocated to
the:
A. Local School Boards
B. General fund of the province
C. National education school funds
D. Education fund of the city
77. The assessment level of your property may also be found in the:
A. Schedule of fair market values of assessor


B. Tax declaration of the property
C. Local government code of 1991
D. Official receipt of payment of transfer tax
78. Cebu City imposed a new tax rate for the basic real property tax for property
owners, which however may not exceed:
A. 2% of the fair market value
B. 1% of the fair market value
D. 2% of the assessed value
79. The Local Board of Assessment Appeals is composed of members provided under
the Local Government Code. Which one is not a member?
A. City prosecutor
B. City engineer
C. City assessor
D. Register of Deeds of the City
80. In case of auction sale of real property due to delinquent real estate taxes, the
owner may redeem the real property, sold provided there shall be a payment of
interest in the rate of:
A. 2% per month
B. 1% per month
C. !5% per annum
D. 12% per annum
81. Mang Jose will declare his real property for the first time and it shall be assessed
for taxes for the period during which it would have been liable but in no case for
more than:
A. 5 years
B. 2 years
C. 10 years
D. 20 years
82. 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. 1 year from date of sale
B. 2 year from date of sale
C. 6 months from date of sale
D. 1 year from date of annotation of auction sale


83. The Quezon City local government imposed starting January 2012 a socialized
housing tax in the amount of:
A. 1% of assessed value
B. to 1% of assessed value
C. 2% of assessed value
D. Not exceeding 1% of assessed value
84. The real estate taxes for socialized housing of Quezon City shall be imposed on
land with an assessed value of more than:
A. 100,000.00 pesos
B. 50,000 pesos
C. 200,000 pesos
D. 500,000 pesos
85. Drew, owned a residential house used for business and assessed as commercial.
What will the assessed value of the land if the lands fair market value is 4.5
million?
A. 90,000.00 pesos
B. 2,250,000.00 pesos
C. 675,000.00 pesos
D. 1,800,000.00 pesos
86. How much will be the quarterly tax payment for a residential parcel of land
valued at 1,800,000.00 if the tax rate is 2%?
A. 1,800.00 pesos
B. 7,200.00 pesos
C. 3,600.00 pesos
D. 4,500.00 pesos
87. If land is in a residential area but the building is used for commercial purposes,
the assessment level classification shall be based on:
A. Commercial
B. Residential
C. Predominant use
D. Mixed residential and commercial
88. The owner failed to pay his basic real estate tax of 10,000 pesos in 2006 and 5000
pesos SEF. How much will be the total interest to be paid for the unpaid basic real
property for the 5 years delinquency?
A. 12,000.00 pesos


B. 7,200 pesos
C. 10,800 pesos
D. 18,000 pesos
89. A change in actual use of the property reported to the assessor shall take effect
beginning:
A. The next quarter after reassessment
B. The next month after reassessment
C. 90 days after reassessment
D. Immediately upon reassessment
90. The assessor is mandated to undertake a general revision of real estate property
assessment every:
A. Year
B. 3 years
C. 2 years
D. As necessary
91. The law referred to as Comprehensive Agrarian Reform Program Extension with
Reforms (CARPER) is:
A. RA 9646
B. RA 6657
C. RA 9700
D. RA 7160
92. The CARPER primarily extends the land distribution program of CARP by:
A. 3 years
B. 5 years
C. 10 years
D. 8 years
93. Beneficiaries under the Comprehensive Agrarian Reform Program and CARPER
shall be awarded an area not exceeding:
A. 3 hectares
B. 5 hectares
C. 2 hectares
D. 7 hectares
94. Lands acquired by beneficiaries under the CARP shall not be sold transferred or
conveyed except through hereditary succession or to the government or to the
LBP or to other qualified beneficiaries through the DAR for a period of:


A. 5 years
B. 10 years
C. 3 years
D. 25 years
95. When the land ceases to be economically feasible and sound for agricultural
purposes, the DAR, may authorize the reclassification of conversion of the land
and its disposition after the lapse of:
A. 5 years
B. 3 years
C. 10 years
D. 15 years
96. In case of non-redemption of foreclosed property, the capital gains tax or

creditable withholding tax shall be paid based on:
A. Bid price or zonal value, whichever is higher
B. Winning bid price
C. Bid price or zonal value or assessors value whichever is higher
D. Zonal value
97. Effective 2012, a real estate broker shall be subject to VAT if the total income for
the year exceeds:
A. 1,500,000
B. 1,919,500
C. 3,199,200
D. 2,500,000
98. The donation of a house and lot to the daughter is not subject to the following tax
and charges:
A. Donors tax
B. Transfer tax
C. Registration tax
D. Documentary stamp tax
99. Under the local government code, the city may impose a socialized housing of
0.5% of the assessed value of lands over:
A. 100,000 pesos
B. 50,000 pesos
C. 150,000 pesos
D. 200,000 pesos


100. In case of sale of at least 2 contiguous lots in 2013, the same shall be subject to
VAT if it exceeds 1,919,500 pesos and sold to one buyer within a period of:
A. Within one quarter
B. With 18 calendar months
C. 1 month period
D. Within 12 months
SUBDIVISION DEVELOPMENT
1. The law governing the protection of buyers who are buying subdivision lots/house
and lots and condominium units is referred to as:
A. HLURB rules and regulations
B. Buyers protection decree
C. Subdivision and Condominium Buyers Protective Decree
D. Subdivision and Condominium Buyers Protection Decree
2. It is the National government agency tasked to provide responsive housing

programs primarily to homeless low-income families with access to social
services and economic opportunities is the:
A. Social Housing Finance Corporation
B. National Housing Authority


C. Housing and Land Use Regulatory Board
D. Home National Home Mortgage Finance Corporation
3. Homeowners Association must register presently with this government agency:

A. Housing and Land Use Regulatory Board
B. Securities and Exchange Commission
C. Home Guaranty Corporation
D. Philippine Homeowners Association Agency
4. The following is not an attached agency of the Housing and Urban Development
Coordinating Council:
A. Pag-ibig fund
B. National Housing Authority
C. Housing and Land Use Regulatory Board
D. Subdivision and Housing Development Association
5. Under the present setup, the highest policy making body for housing is:
A. National Housing Authority
B. Housing and Land Use Regulatory Board
C. Housing and Urban Development Coordinating Council
D. Department of Housing
6. Under PD 957, a corporation which intends to develop a subdivision must first

obtain the following from HLURB?
A. Certificate of Registration
B. Certificate of Development
C. License to sell
D. Development permit
7. Manuel bought a lot on instalment for 10 years but after 6 years failed to pay his
monthly amortization. His rights shall be governed by:
A. Maceda Law
B. Subdivision and Condominium Buyers Protective Decree
C. Contract to sell
D. Realty Financing act
8. It is defined under PD 957 as a parcel of land primarily partitioned for residential

purposes into individual lots, with or without improvements:


A. Residential subdivision
B. Simple subdivision
C. Complex Subdivision plan
D. Subdivision project
9. A subdivision plan of a registered land wherein a street passageway or open space

is delineated on the plan is a:
A. Complex subdivision plan
B. Subdivision open spaces plan
C. Simple subdivision plan
D. Approved subdivision plan
10. It refers to housing programs and projects covering houses and lots or homelots
only undertaken by the Government or the private sector for the underprivileged
and homeless citizens which shall include sites and services:
A. Socialized housing
B. Economic housing
C. Homeless housing project
D. Low cost housing
11. Developer WC may publish the advertisement of their project even without a
license to sell provided that:
A. It has started development of the project
B. It is duly registered with HLURB
C. It is for announcement purposes only
D. It is only for pre-selling
12. PD 1216 requires subdivision owners to provide adequate roads, alleys, sidewalks
and reserved open spaces for parks or recreational use of the total area of
subdivision project equivalent to at least:
A. 25%
B. 35%
C. 30%
D. 20%
13. The following are required to register with HLURB to sell subdivision lots or
condominium projects:


B. Real estate brokers and real estate salespersons
C. Licensed Real salespersons
D. Licensed real estate and accredited real estate salespersons
14. It shall mean any person directly engaged as principal in the business of selling or
exchanging real estate whether on full time or part time basis:
A. Real Estate Dealer
B. Real Estate Broker
C. Real Estate Developer
D. Real Estate Businessman
15. Everest Realty obtained a written authorization to develop in a certain area based
on an approved land use plan or ordinance referred to as:
A. Development permit
B. Locational clearance
C. Authority to develop
D. Certificate of Registration
16. If one wants to venture into socialized housing, the ceiling amount for socialized
housing consisting of house and lots shall be:
A. 300,000 pesos
B. 225,000 pesos
C. 400,000 pesos
D. 500,000 pesos
17. Section 18 of Republic Act 7270 requires subdivision developers to provide for
socialized housing based on project area or cost in the amount of:
A. 20%
B. 15%
C. 30%
D. 10%
18. What should not be included in the advertisements of the developer of a high end
subdivision project?
A. Future development not covered by license to sell
B. Project area and location
C. Subdivision proposed amenities and facilities
D. Project completion date


19. Amor wanted to sell condominium units in a condo project near her house, she
must therefore:
A. Get a license from HLURB
B. Register directly with HLURB
C. Work under a real estate broker and register with HLURB
D. Be accredited by a real estate developer
20. The following is exempted from getting a registration certificate and license to
sell from HLURB:
A. Sale of memorial lots
B. Sale of a subdivision lot by the original purchaser thereof
C. Sale of purely residential condominium units
D. Sale of farmlots by a developer
21. A complaint may be filled with HLURB in the following instance:

A. Complaint for non-payment of brokers commission
B. Complaint by buyer against non-completion of project
C. Complaint of developer for the right of way
D. Complaint of broker versus his salesperson
22. The performance bond required under PD 957 from a developer shall be made
payable to:
A. HUDCC
B. Homeowners association
C. Republic of the Philippines
D. Local Government
23. A license to sell issued to a developer may be suspended Motu Propio by the
HLURB or by:
A. Verified complaint by buyer
B. Complaint by a real estate broker
C. Written complaint by buyer
D. Written complaint by at least majority of the buyers
24. A certificate of registration of the developer may be revoked by HLURB except in

the following instances:
A. Developer is of bad business repute
B. Misrepresentation in brochures or advertisements
C. Violation of provisions of PD 957
D. Developer has another pending case with HLURB


25. BJC properties wanted to borrow from the bank for development and may do so
only with the approval of:
A. Housing and Land Use Regulatory Board
B. All the lot buyers
C. Home Guaranty Corporation
D. All the lot owners who are fully paid
26. When it shall appear that a person about to engage in any act or practice which
constitute or will constitute a violation of provision of PD 957, it may upon due
notice and hearing, issue a:
A. Revocation order
B. Cease and desist order
C. Temporary restraining order
D. Cancellation of performance bond order
27. In case, a developer mortgaged the project without approval from HLURB and a
buyer complained, the mortgage shall be:
A. Void as to the whole mortgage
B. Void as to the lot of the complaining buyer
C. Valid but subject to administrative fine from HLURB
D. Voidable as the instance of the HLURB
28. A buyer who failed to pay the installments due for reasons other than the failure of
the owner or developer to develop the project shall be governed by:
A. HLURB rules and regulations
B. PD 957
C. Realty Installment Buyers Protection Act
D. Installment Financing act
29. Under PD 957 the owner or developer shall deliver the title of the lot or unit to the
buyer upon:
A. Turnover of the lot or unit
B. Full payment of the lot or unit
C. Payment of the Registration fees for issuance of the title
D. Occupancy of the lot or unit
30. Mary Ann brought a house and lot in a subdivision and Real estate tax and
assessment on the house and lot shall be paid by the developer:
A. For as long as title has not passed to the buyer
B. Until the buyer occupies the house


C. Until buyer has paid at least 50% if on instalment
D. Until there is proper turnover of the house
31. The developer of a subdivision project shall for purposes of promoting the their
mutual interest of the buyers, initiate the organization of:
A. Condominium Corporation
B. Homeowners Association
C. Management Committee
D. Property management committee
32. When the developer intends to donate the roads and open space to the local
government, it will have to provide the following to the LGU?
A. Certificate of completion
B. Consent of the buyers of the lots
C. Certificate of Occupancy
D. Development permit
33. A developer may divide the development and sale of the subdivision into phases,
each phase to cover not less than:
A. 5 hectares
B. 10 hectares
C. 15 hectares
D. 20 hectares
34. In case of violation by the developer, HLURB may impose administratve fines for
violation of PD 957 not exceeding:
A. 5,000.00 pesos
B. 10,000 pesos
C. 50,000 pesos
D. 25,000 pesos
35. Any person who shall violate any of the provision of PD 957 shall upon
conviction, may be punished by:
A. Imprisonment of not more than 5 years
B. A fine of not more than 50,000 pesos
C. Fine of not more than 20,000 pesos
D. Fine of not more than 10,000 pesos
36. In case of conviction, a person may be imposed a penalty of imprisonment of:

A. Not more than 5 years
B. Not more than 10 years


C. Not more than 25 years
37. The Subdivision and Condominium Buyers Protective decree became effective
last:
A. 1976
B. 1975
C. 1981
D. 1986
38. Under the IRR of PD 957, the maximum length of a block in a subdivision should
be:
A. 400 meters
B. 300 meters
C. 500 meters
D. 1000 meters
39. The approval of the following function has already been devolved to the local
government unit from the HLURB:
A. Approval of condominium plan
B. Approval of subdivision plan
C. Approval of memorial parks
D. Approval of residential condominium project
40. Under the IRR of PD 957, the minimum lot area for single detatched open market
housing shall be:
C. 50 square meters
41. For a rowhouse under PD 957, the minimum lot frontage is:
A. 3 meters
B. 4 meters
C. 5 meters
D. 3.5 meters
42. The IRR of PD 957 provides that the number of rowhouses per cluster shall not
exceed
A. 10 Units per block / cluster
B. 15 Units per block / cluster


C. 20 Units per block / cluster
D. 40 Units per block / cluster
43. The water connection for subdivision as provided under the PD 957 is:
A. 150 liters per capita per day
B. 200 liters per capita per day
C. 100 liters per capita per day
D. 128 liters per capita per day
44. It is referred to as a parcel of land bounded on the sides by streets or pathways or

natural or man-made features and intended for buildings:
A. Block
B. Alleys
C. Open spaces
D. Playground
45. It means the entire parcel of real property divided or to be divided in

condominium, including all structures thereon:
A. Condominium
B. Condominium master plan
C. Condominium project
D. Condominium lot plan
46. In subdivisions, it is generally defined as a structure designed or used as

residence:
A. Dwelling
B. House
C. Living quarters
D. Rowhouse
47. It is defined to be a dwelling surrounded by yards under the IRR of PD 957:

A. Single detached
B. Open spaces
C. Single attached
D. Rowhouse
48. A dwelling unit which contains 2 separate living units each of which is separted
from another by a firewall and provided with independent access is referred to as:
A. Rowhouse
B. Duplex
C. Single attached units


D. Compound
49. A wall which subdivides a building so as to resist the spread of fire, by starting at
the foundation and extending continuously through all storeys to, or above the
roof is referred to as:
A. Firewall
B. Building partition
C. Boundary wall
D. Party wall
50. It is a lot situated at the intersection of two or more streets is:

A. Though lot
B. Corner lot
C. Crossing lot
D. Intersection lot
51. It means any lot which is not rectangle nor square shared as defined in the IRR of
PD 957?
A. Non-conforming lot
B. Irregular lot
C. Corner lot
D. Non-regular lot
52. Under RA 7279, it refers to the most reasonable price of land and shelter based on
the needs and financial capability of Program Beneficiaries and Appropriate
Financing Schemes.
A. Affordable cost
B. Reasonable cost
C. Minimum housing cost
D. Poverty threshold cost
53. Under the IRR of BP 220, the minimum lot size for a socialized single detached
unit is:
A. 64 square meters
B. 32 square meters
D. 88 square meters
54. For a rowhouse under the IRR of BP 220, the minimum lot frontage of a
rowhouse is:
A. 4 meters


B. 3 meters
C. 3.5 meters
D. 4.5 meters
55. A public way with a width of 2.0 meters intended to break a block and to serve
both pedestrian and emergency vehicles:
A. Alley
B. Pedestrian lane
C. Pathway
D. Walkway
56. The power of HLURB to hear and decide cases of complains by a buyer versus
the developer refers to this functions:
A. Regulatory
B. Administrative
C. Quasi judicial
D. Judicial
57. It is defined as single family detached dwelling unit containing three or more
separate living units grouped closely together to form relatively compact
structures:
A. Rowhouses
B. Compound
C. Cluster housing
D. Single attached units
58. A habitable dwelling unit which meets the minimum requirements for a housing
core with the additional components such as exterior walls, plumbing, floor and
electrical wiring for the unit:
A. Shell house
B. Core house
C. Socialized housing
D. Bare house
59. Under the IRR of BP 200 it is a habitable dwelling unit which meets the minimum
requirements for a shell house which includes as part thereof: windows, doors and
partition walls for separating functional areas:
A. Basic house
B. Livable house
C. Complete house
D. Minimum basic house


60. It is a public way intended to be used as pedestrian access to property referred to

as a pathwalk and shall have a minimum width of:
A. 3.5 meters
B. 3 meters
C. 4 meters
D. 2 meters
61. In case a buyer would like to refund his payments for non-completion of the
project within completion date, the refund shall be the total amount paid
including:
A. Amortization interests but including delinquency interest, with interest thereon
at the legal rate
B. Amortization interests but including delinquency interests
C. Amortization interests with interest thereon at the legal rate
D. Amortization interests but excluding delinquency interests with interest
thereon at the legal rate
62. The buyer may desist from making his monthly payment or amortization to the
developer for non-completion of the project on its completion date provided the
buyer:
A. Notifies the HLURB
B. Issues postdated cheques
C. Give notice to the developer
D. Has paid at least 2 years of the total monthly instalments
63. The law that governs the rights of a homeowner is referred to as:
A. Magna Carta for Subdivision
B. Magna Carta for Homeowners
C. Magna Carta for Homeowners and Homeowners association
D. Magna Carta for Subdivision Homeowners
64. Under the magna carta governing homeowners, Simple majority of association
members refers to:
A. 50% plus 1
B. 2/3 majority
C. 51%
D. 55%
65. The homeowners of JJJ Subdivision wanted to put up a homeowners association

this year. They must register the same with:


A. Securities and Exchange Commission
B. Housing Guaranty Corporation
C. Housing and Urban Development Coordinating Council
D. Housing and Land Use Regulatory Board
66. The following is not a duty of a member of homeowners association:

A. To attend meetings of the association
B. Pay membership fees, dues and special assessments
C. To support projects and activities of the association
D. Propose measures to raise funds and the utilization of such funds
67. A director of the homeowners association may simply be removed for causes
provided in the bylaws by:
A. Complaint filed with HLURB
B. Petition signed by simple majority of homeowners in good standing
C. At least half of the members of the association
D. 2/3 vote of all members in good standing
68. The board of the association may be dissolved through a process of:
A. Signed petition of at least 2/3 of the association members
B. Meeting of at least a simple majority of members
C. Petition to the HLURB
D. Signed petition of at least a simple majority of association members
69. Association members may vote in person or by proxy in all meetings of members
provided a proxy shall not be valid for more than:
A. 2 years
B. 1 year
C. 3 years
D. 4 years
70. A person who intentionally or by gross negligence, violates any provision of the
Magna Carta governing homeowners shall be punished with:
A. Fine of not less than 20,000 pesos but not more than 50,000 pesos
B. Fine of not more than 100,000 pesos not less than 5,000 pesos
C. Fine of not less than 5,000 pesos but not more than 50,000 pesos
D. Fine of not less than 10,000 pesos and not more than 100,000 pesos
CONDOMINIUIM CONCEPTS AND OTHER REAL ESTATE HOLDINGS


1. The governing law for the protection of buyers who are buying residential
condominium units on installment basis is referred to as:
A. Subdivision and Condominium Buyers Protective Decree
B. The Condominium Act
C. Realty Installment Buyers Protection Act
D. HLURB Rule and Regulations
2. Absent any provision in the Master Deed, the share of unit owners in the common
areas shall be:
A. Based on floor area of their unit
B. Based on value of their unit
C. Based on the number of bedrooms per unit
D. Equal share
3. In general, it is not considered part of the Master Deed of a Condominium project:

A. Number of buildings and stories per building
B. Land on where the project is located
C. Provision for management body of the project
D. Extent of share in the common areas
4. The condominium corporation has a term of existence under the law for a period
up to:
A. 50 years
B. As provided in the Articles of Incorporation
C. Until dissolved by the HLURB
D. Coterminous with the life of the project
5. Ownership of foreigners in a townhouse project located in the city is limited to:

A. 51% of the units
B. 40% of the units
C. No limits
D. 60% of the units
6. As proof of ownership of a condominium unit, the owner would have the best
proof as:
A. Original Condominium Certificate
B. Condominium Certificate of Title
C. Transfer Certificate of Title
D. Condominium corporation certification


7. It is regarded as an interest in real property consisting of a separate interest in a
unit in a building and an undivided interest in common in the land on which it is
located and in other common areas:
A. Common areas
B. Condominium
C. Condominium unit
D. Condominium project
8. The following is not used as a measure of the interest in the common area by a
condo unit owner:
A. Based on floor area of their unit
B. Based on value of their unit
C. Based on the number of bedrooms per unit
D. Equal share
9. The following is not part of the Master Deed of a condominium project:

A. Amenities and facilities per condo building
B. Condominium house rules and regulations
C. Extent of share in the common areas
D. Number of buildings and stories per buildings
10. The condominium corporation formation is required in case:

A. At least 60% Filipino ownership
B. As provided in the Articles of Incorporation
C. At least 1 foreigner owns a unit
D. Of purely residential condominium units
11. Ownership of Filipinos in a residential condominium project, if based on number

of units, is limited to a minimum of:
A. 51% of the units
B. 40% of the units
C. No limit
D. 60% of the units
12. As owner of condominium unit the owner would be liable to pay real estate taxes:
A. On the taxes on his unit
B. On the condominium project
C. On taxes assessed by the condominium corporation
D. On the taxes of the total common area


13. The condominium corporation may also be dissolved in a general or special
meeting duly called for the purpose by affirmative vote of:
A. Simple majority of the condominium members
B. All the members of the condominium corporation
C. 2/3 vote of the members
D. Majority of the members of the condominium common areas
14. It is referred to as the space encompassed by the interior surface of the floor,
ceiling, walls and exterior doors and windows, which is susceptible of
independent use and ownership.
A. Common areas
B. Condominium unit
C. Condominium limited common area
D. Condominium interior
15. If one wanted to find out what his interest or share is in the common areas, it may
be found in the following document:
A. Condominium rules and regulations
B. Master deed
C. Deed of restriction
D. Tax declaration of the condominium unit
16. A condominium corporation is important as it will be the management body of

the condominium project and more importantly will also;
A. Hold title to the land of the condominium project
B. Collect the dues from the unit owners
C. Pay for the insurance of the separate units
D. Pay for the realty taxes of the unit owner
17. A unit owner does not have the following right as a condominium unit owner:
A. To pay for share in insurance of the condo project
B. To lease the unit
C. To mortgage his own unit
D. To sell the condominium unit
18. The Atlas condo residences, a mixed use condo project, wanted to amend the
master deed. In such case the majority vote shall be based on:
A. Per unit ownership
B. Per unit floor area
C. Per unit value
D. Per unit no. of occupants


19. Mr. Rodriguez owned a unit in the ASB Twin Tower. He can sell the unit to
anybody unless there is:
A. Provision for right of first refusal
B. Delinquency in condominium dues
C. A mortgage on the condominium unit
D. An amount of unpaid real estate taxes
20. If a unit owner has unpaid assessments, the notice of assessment will be
considered a lien on the condominium unit if:
A. A notice of assessment is registered with the register of deeds
B. A notice of assessment is given to the unit owner
C. The delinquency is more than 1 year
D. Registered with the city treasurers office
21. It refers to the weight bearing walls, columns and beams, stairways, halls,
elevators etc. including the electrical, water and plumbing system and amenities in
a condominium project?
A. Condominium building
B. Common areas
C. Condominium structure
D. Vertical building
22. A buyer failed to pay his instalment payments after paying 4 years for a 1
bedroom residential condominium unit on a 10 year installment payment. What
will be his percentage under the Maceda law?
A. 0%
B. 25%
C. 50%
D. 40%
23. Armelene sold his 3 bedroom condo unit to a buyer. To register the sale she must
get from the condominium corporation this document:
A. Clearance for condominium dues
B. Certificate of ownership
C. Certificate of transfer
D. Certificate of management
24. In buying a condominium unit, it is highly recommended that the buyer get this
most important document to have full knowledge of the project?
A. Master Deed


B. Deed of restrictions
C. Articles of Incorporation of condominium corporation
D. House rules and regulations
25. A part of the condominium project which are not subject to the exclusive use of
any one or group of owners:
A. General common area
B. Common areas
C. Limited common areas
D. Divided common area
26. Once a buyer is now the owner of a condominium unit, the law more appropriate
covering his ownership and rights as a unit owner is:
B. The Condominium Act
C. The Realty Installment Buyers Protective Act
D. Property Registration Decree
27. These are areas allocated to the exclusive use of a condominium unit owner like a
parking space:
A. Limited common area
B. Common area
C. Assigned parking space
D. Exclusive common area
28. A condominium corporation must be organized for the condominium project if:
A. Units will be sold to foreigners
B. No property manager will be hired
C. The developer deems it necessary
D. The unit owners agree by simple majority
29. In case of any amendment, the approved amendment of the condominium in

Baguio City shall be submitted for approval to the Housing and Land Use
Regulatory Board and the:
A. Municipal engineer
B. City engineer
C. HLURB
D. Majority of the unit owners


30. A partition by sale may be made provided that damage or destruction to the
project has rendered or more of the units therein untenantable and that
condominium owners with common interest are opposed to repair is more than:
A. 50% interest
B. 30% interest
C. 70 interest
D. 100 interest
31. The condominium corporation may be dissolved if the project has been in
existence in excess of 50 years, that it is obsolete and that members of the
corporation are opposed to the repair or restoration or remodelling or modernizing
of the project to the extent of more than:
A. 50% of the members
B. 30% of the members
C. 2/3 of all members
D. 51% of the members
32. A residential condominium corporation shall not during its existence sell or
otherwise dispose of the common areas owned or held by it in the condominium
project unless authorized by the affirmative vote of a:
A. 2/3 of the registered owners
B. Simple majority of the registered owners
C. 51% of the registered owners
D. All of the registered owners
33. An obligation to the condominium corporation of a unit owner:

A. Sell the unit
B. Repaint the unit
C. Comply with use restriction
D. Pay the realty taxes on his unit
34. Mark brought a 2 bedroom condo unit but after 4 years, the project has not been
completed beyond completion date. He may ask for a refund of the total amount
paid including:
A. Amortization interests but including delinquency interest, with interest thereon
at the legal rate
B. Amortization interests but including delinquency interests
C. Amortization interests with interest thereon at the legal rate
D. Amortization interests but excluding delinquency interests with interest
thereon at the legal rate


35. The condominium corporation may integrate the project with another upon the
affirmative vote of a simple majority of the registered owners, subject only to the
final approval of:
A. HLURB
B. City engineer
C. Municipal engineer
D. Local government unit
36. The HLURB may issue a temporary license to sell to a condominium developer
which will be valid for:
A. 6 months
B. 3 months
C. 12 months
D. 24 months
37. For a farmlot subdivision, the minimum lot area for a farmlot is:
38. Mr. Guerrero bought a farmlot in Laguna where he intends to retire. He may only
build on a lot up to a maximum of what percentage of the total lot:
A. 25%
B. 20%
C. 30%
D. 35%
39. Under the REIT law, a Constitutive Document means:

A. Approved plan of the REIT
B. Articles of incorporation of the REIT
C. Shares of the stock of the REIT
D. Ownership documents of the REIT
40. It refers to the person responsible for the allocation of the deposited property to
the allowable investment outlets and selection of income generating real estate
for the REIT
A. Fund manager
B. REIT board of directors


C. Property manager
D. Investment manager
41. It is a stock corporation established under the Corporation Code of the

Philippines and those promulgated by the Commission principally for the purpose
of owning income generating real estate assets:
A. Real Estate Investment Trust
B. Real Estate trust
C. Real Estate trust investment
D. Real Estate investment corporation
42. Under the REIT, it refers to a professional administrator of real properties who is
engaged by the REIT to provide property management services, lease
management services, marketing services, project management services including
rent collection:
A. Fund manager
B. REIT administrator
C. Property administrator
D. Property manager
43. A REIT must distribute annually to its shareholders its distributable income to the
extent of at least:
A. 75%
B. 50%
C. 90%
D. 80%
44. A REIT which owns land can only have foreign ownership up to:
A. 40%
B. 50%
C. 45%
D. 35%
45. Under the REIT law, a REIT must be a public company and to be considered as
such, a REIT must have at least how many public shareholders:
A. 100
B. 1000


C. 500
D. 2000
46. In order for the investor group of Mr. Chua to form a REIT, it must have a
minimum paid up capital of:
A. 1,000,000,000.00 pesos
B. 100,000,000.00 pesos
C. 300,000,000.00 pesos
D. 500,000,000.00 pesos
47. Income payments to a REIT, for example rentals, shall be subject to a lower
creditable withholding tax of:
A. 2%
B. 1%
C. 3%
D. 5%
48. The final manager of the REIT must have a minimum paid-ip capital stock or
assigned capital of:
A. 50 million pesos
B. 5 million pesos
C. 10 million pesos
D. 100 million pesos
49. Cash or property dividends paid by a REIT shall be subject to a final tax of:
A. 10%
B. 5%
C. 15%
D. 20%
50. Johnny wanted to invest in the REIT and he may make an investment in the REIT
by way of:
A. Initial investment of 50,000 pesos
B. Subscription to shares of stock
C. Purchase of condo unit being rented by REIT
D. Direct infusion of capital to the REIT
51. A developer wants to build townhouses but would like to build a condominium
project instead. Such development would be called:
A. Condominium project


B. Townhouse project
C. Townhouse subdivision
D. Townhouse condominium
52. The rights of a buyer of a condominium unit, when he fails to pay the monthly
installments under the contract to sell shall be governed by:
A. RA 6552
B. PD 957
C. Financing Act
D. HLURB Rules of procedure
53. The Master Deed of a mixed use condominium would not include the following
provision:
A. Extent of common area interest
B. Land on which it is built
C. Number of buildings to be built
D. Provision for maintenance and insurance
54. In case of a buyer on financing of a residential condominium unit who now owns
the unit, the primary law that the buyer must refer to as owner should be:
B. Condominium Act
C. National Building code
D. Maceda Law
55. Gino buys a two 1 bedroom condominium units adjacent to each other within a 12
month period this year shall be subject to VAT if the total exceeds:
A. 2,500,000 pesos
B. 1,500,000 pesos
C. 3,199,200 pesos
D. 1,919,500 pesos
56. It is issued by the HLURB in order that the developer of a condominium project
may start selling units, pending other requirements and to assess the market
viability of the project:
A. License to sell
B. Certificate of registration
C. Temporary license to sell
D. Interim license to sell


57. For a farmlot subdivision, the rules provide that a farmlot should have a minimum
size of:
58. A structure either freestanding or part of another building containing niches for
the inurnment of cremated human remains:
A. Niche
B. Memorial park
C. Mausoleum
D. Columbarium
59. Mr. Caspi wanted to stop payment of his monthly amortizations for a studio condo
unit since the project has not been completed but it is required that he must:
A. Inform HLURB
B. Update his monthly payment
C. Have paid at least 24 monthly instalments
D. Give due notice to the developer
60. A condo unit owner does not have the following right:
A. To paint the exterior walls of the unit
B. To lease out his unit
C. Exclusive easement of the air in the unit
D. Use of the common areas
61. When it is provided that the unit to be sold must first be offered to the existing
unit owners, it is referred to as:
A. Right of first refusal
B. Option
C. Right of offer
D. Right to refuse
62. The ashes resulting from the cremation of a dead body:

A. Cremains
B. Remains
C. Urn
D. Ash remains


63. The maximum buildable area on a farmlot as per HLURB rules and regulation
shall not exceed:
A. 20%
B. 25%
C. 30%
D. 35%
64. It means the placing of cremated remains in an urn in a columbarium:

A. Inurnment
B. Internment
C. Exhumation
D. Burial
65. Per HLURB Administrative Order No. 2 Series of 1992, the minimu plot size for
an industrial estate is:
66. An allocated lot in an industrial subdivision is also referred to as:

A. Factory plot
B. Industrial lot
C. Manufacturing lot
D. Subdivision lot
67. As defined in the rules of HLURB, it means an interment space for the bones of
deceased:
A. Ossuary
B. Coffin
C. Columbarium
D. Urn
68. An amount collected by the developer of a columbarium project for the

maintenance and upkeep of the project separate from the contract price:
A. Perpetual care fund
B. Value added tax
C. Maintenance fund
D. Columbarium association dues
69. The minimum burial plot size for ground interment as per HLURB rule is:


A. 1 m X 1.5 m
B. 1mX1m
C. 1 m X 2.44 m
D. 1 m X 3.0 m
70. The minimum plot size for a mausoleum under the rules for memorial parks is:
A. 3m X 3m
B. 4m X 5m
C. 3m X 4m
D. 5m X 5m
LEGAL ASPECTS OF SALE, LEASE AND MORTGAGE
1. 2 people entered into a contract and to be valid, it is essential that:

A. There is a meeting of minds
B. It is in writing
C. It must have 2 witnesses and in writing
D. It is in writing and duly notarized
2. A contract defined, as where one of the parties obligates himself to transfer the
ownership of and to deliver a determinate thing and the other to pay therefore a
price certain in money or its equivalent:
A. Contract to sell
B. Contract of sale
C. Contract of lease
D. Contract of conditional sale
3. An important element in a contract of sale is that the seller will do this in favour
of the buyer:
A. Pay the price
B. Execute a deed of sale
C. Transfer the ownership
D. Turnover the property physically
4. Keno purchased a house and lot but the agreement contained terms and conditions
to be undertaken by the seller on the house for her to buy the house and is referred
to as a:
A. Conditional sale
B. Absolute sale
C. Preliminary sale
D. Option contract


5. In a contract of sale of a 2 story house and lot, the 3 essential elements are cause,
object being sold and:
A. Consent
B. Consideration for the property
C. Execution of the contract
D. Age of the buyer
6. Mr. and Mrs. Legaspi cannot sell property to each other as a general rule except
when there is:
A. Written agreement between the spouses
B. Prenuptial agreement
C. Property relations of absolute community
D. Judicial separation of property
7. The following person cannot acquire by purchase the property because of

fiduciary relationship:
A. Purchase by the husband under separation of property
B. Purchase by the aunt of the property of the minor
C. An agent under whose administration the property is entrusted
D. An assessor who will buy his neighbours property
8. Under the law, when a person is bound to:

A. Deliver the lot plan
B. Transfer the ownership
C. Issue an official receipt for the payment
D. Have the lot surveyed
9. A lot was bought by Florence and only indicated in the sale price the amount of
2,000,000.00 consisting 2,000 square meters but which turned out to be only
1,900. What is a right of Florence?
A. Right to cancel the contract
B. Right to refund of excess
C. No right to rescind the contract
D. No right to reduction in price
Explanation: It appears that the intention of the examiner is that the sale is paid in
lump sum where any deficiency in area delivered is immaterial.
10. Charles purchased a house and lot and in such contract of sale, he has the
obligation to:
A. Pay for notarial fees


B. Transfer the title to his name
C. Accept delivery of the house
D. Transfer the ownership
11. The most important difference between a contract to sell and a contract of sale is
that in a contract of sale:
A. Transfer of ownership
B. Notarization of the contract of sale
C. Payment of the price in full
D. Execution of the contract
Note: In a contract to sell, there is no transfer of ownership there is only an
agreement to sell the property and transfer of ownership will only happen upon full
payment of purchase price and excution of a deed of absolute sale.
12. Jeremiah entered into a pacto de retro sale but was actually a mortgage as he just
needed to borrow money and he continued to live in the house. In such case, it
may be considered as:
A. Equitable mortgage
B. Contract of sale
C. Conditional sale
D. Voluntary mortgage
13. The following sale on financing of property is covered by the Maceda law:
A. Industrial lots
B. Residential lot
C. Commercial lot
D. Sales to tenants under RA 384
14. In case Jessie fails to pay her monthly instalments after paying 20 months
installments, her right under the Maceda Law shall be:
A. 60 days grace period
B. Grace period of 1 month to update payments
C. Refund of 50% of payments made
D. Grace period of 30 days to pay
15. A bungalow was bought by Sergio last week but the same house was sold to
Kathlyn after, who did not know that is was already sold. Who has a better fight to
the property?
A. The first one to register with the registry of deeds
B. The first one to occupy the house
C. The first one to have the deed of sale notarized


D. The first one to transfer the tax declaration in his name
16. Under the Realty Installment Buyers Act, the buyer of the lot will be entitled to
how many percent additional per year after 5 years of payment:
A. 10%
B. 5%
C. 20%
D. 15%
17. The formula to be used in computing the cash surrender value of a buyer under the
Maceda law is:
A. Total payments made X percentage refund
B. Monthly amortization X no. of years paid
C. Total payments made expenses of sale
D. Monthly amortization paid X no. of years paid
18. The following is not allowed to be deducted from the refund of the buyer under
RA 6552 or Maceda Law:
A. Brokers commission already paid
B. Reservation deposit
C. Downpayment
D. Amortization paid
19. In case a buyer fails to pay after making 96 monthly instalment on a 10 year term
purchase of a lot, the percentage refund shall be:
A. 50% + 5% of the instalment for the years beyond 5 years
B. 50%
C. 65%
D. 100%
20. Vincent entered into a pacto de retro sale over his lot but no mention was made of
when he can buy back the property. In this case the period to buy back shall be
considered as:
A. 2 years
B. 1 year
C. 4 years
21. A contract where one of the parties binds himself to give to another the enjoyment
or use of a thing for a price and for a certain period is referred to as:
A. Occupancy agreement


B. Lease agreement
C. Contract to sell
D. Rent to own agreement
22. If an owner of a residential house will enter into a lease contract with the lessee to
renew the lease, it is the owners obligation to:
A. Make it suitable for the purpose.
B. Pay for the expenses of the contract
C. Make a contract in writing
D. Repair broken fixtures due to the tenant
23. The lessee who rented the house in Ayala Alabang for 90,000 per month paid in
advance for 1 year cannot do the following without the written consent of the
owner?
A. Pay in postdated monthly checks
B. Sublease part of the house
C. Hire a gardener to take care of the garden
D. Assign the contract of lease
24. The lessee shall also be required to make this payment to answer for unpaid
utilities or damages to the premises:
A. Surety bond
B. Advance rental
C. Performance bond
D. Deposit
25. The written contact of lease for 1 year already expired but the owner continued to
receive rental during the first 5 days of the month and is considered as:
A. Month to month lease
B. Renewed one year lease
C. Continuing lease
D. Implied renewal for one year
Explanation: The lessor, by accepting payment for a lease that is supposedly expired
in effect agreed to a contract of lease with a duration of one month. The situation
above should be distinguished from the case of implied new lease where the lessor did
not demand the lessee to vacate the premises after 15 days from the termination of the
lease contract. However, in both cases, the period of implied new lease and the
situation above depends on the manner of payment of rent, that is: if rent is paid
monthly then the duration is for a month, if paid weekly for a week, if daily for a day,
and if paid yearly for a year.


26. Under the Rent Control Act of 2009, the following shall not be covered by rent
control:
A. An apartment in Pateros rented out for 16,000.00 per month
B. Residential house in Manila rented out at 9,000 per month
C. A residential condo unit in Ayala Makati rented out at 9,500 per month
D. A residential townhouse in Quezon City rented at 10,000 per month
27. Richard rented a residential apartment in Avenido Manila for 8,000 per month and
the owner may only collect from Richard, the following:
A. 1 month advance and 1 month deposit
B. 1 month advance and 3 months deposit
C. 2 months advance and 2 months deposit
D. 1 month advance and 2 months deposit
28. The rental of Razel of a 1 bedroom condominium unit for 15,000 pesos per month
shall be paid on or before:
A. First 10 days of the contract month
B. First 5 days of the contract month
C. The end of the contract month
D. As provided in the contract of lease
29. The owner may judicially eject the lessee of her 3 bedroom condo unit in Makati
for the following ground:
A. Nonpayment on time of Meralco Bill
B. Nonpayment of rental for 2 months
C. Nonpayment of rental for 1 month
D. Nonpayment of rental for 3 months
30. The following is not a ground to eject the lessee of a house being rented out at
15,000 per month under 1 year contract of lease:
A. Violation on number of occupants
B. Expiration of the lease contract
C. Need of lessor for use of his immediate family
D. Non payment of rental
31. In the case the owner refuses to receive the rental payment of the lessee under rent
control, the lessee may deposit by way of consignation to:
A. House of the lessor
B. City / municipal treasurer
C. Nearest relative of kin
D. Neighbor of the lessor


32. Under the Rent Control Act of 2009, a ground for judicial ejectment is arrears in
rental of the lessee for a total of:
A. 2 months
B. 3 months
C. 4 months
D. 5 months
33. Edwin rented a residential apartment in Navotas for 8,500.00 pesos per month. He
may not do the following unless with the written consent of the owner:
A. Sublease the premises
B. Make immediate minor repairs on the premises
C. Pay the rental in advance
D. Make improvements already approved by the owner
34. The following is not a ground for judicial ejectment of the tenant leasing a studio
condo in Quezon City for 9,500.00 per month:
A. Need of Lessor for use of immediate family
B. Arrears in payment of rentals for a total of 3 months
C. Expiration of the period of the lease
D. Non-payment of wireless landline
35. If the unit of the owner is covered by the Rent Control Act of 2009. The owner
may increase the rent for the same tenant not to exceed:
A. 9%
B. 8%
C. 7%
D. 5%
36. Karen rented out an apartment from the owner but no written agreement was
executed by the owner on the lease. The lease contract is:
A. Void
B. Valid
C. Voidable
D. Non-existent
37. The purchaser of a house and lot which is being rented may eject the lessee in the
following instance:
A. If indicated in the deed of sale
B. Expiration of the contract of lease
C. If the buyer knows the property is being leased


D. If registered with the Register of Deeds
38. To be a valid contract of lease between the owner and the lessee , there must be:
A. A written contract of lease signed by both parties
B. A written contract of lease duly notarized
C. A written contract of lease
D. A meeting of minds between the owner and lessee
39. Under the rent control, the lessor may eject the lessee to make necessary repairs of
the leased premises which is the subject of an existing order of condemnation by
appropriate authorities in order to make said premises safe and habitable provided
the lessee shall have the first preference to lease and the new rental shall be:
A. Not to exceed 10%
B. Not to exceed 7%
C. Not to exceed 15% of previous rental
D. Reasonably commensurate to the expenses incurred for the repair
40. In case of ejectment, the owner may file a case in the municipal or metropolitan
trial which is legally called:
A. Unlawful detainer
B. Forcible entry
C. Breach of contract
D. Recovery of possession
41. Unlike the contract of sale which is a principal contract, a mortgage contract is
considered what kind of contract:
A. Secondary contract
B. Accessory contract
C. Primary contract
D. Addendum contract
42. The following cannot be subject of a real estate mortgage with the leading
institution:
A. Construction heavy equipment
B. Right of redemption
C. Residential studio unit
D. A parcel of vacant land
43. A developer decided to go on a rent to own scheme for his condo units. The
monthly rentals increase will subject to the following:
A. No limit in increase


B. Not to exceed 5% per year
C. Not to exceed 10% per year
D. Not to exceed 8% per year
44. In case of rent of an office space by a business corporation from the individual
owner, the same shall be subject to withholding tax rate of:
A. 3%
B. 5%
C. 10%
D. 12%
45. Under the rent control, the lessor may eject the tenant for the legitimate need of
the owner lessor to repossess his or her own use for the use of any immediate
member of his or her family as a residential unit provided notice is served on the
tenant at least in advance
A. 6 month notice
B. 3 month notice
C. 1 month notice
D. 2 month notice
46. A provision in a mortgage contract which allows the creditor to immediately

appropriate the property mortgaged upon non-payment of the amortization is
referred to as:
A. Pactum stipulation
B. Pactum commissorium
C. Pactum non alendo
D. Pactum appropriation
47. JM bank foreclosed a lot of NQ corporation and it can redeem the same within
how many months from foreclosure sale:
A. 6 months
B. 3 months
C. 1 year
D. 1 years
48. The mortgage of the owner after borrowing from a lending investor will have to
be registered with:
A. Bangko Sentral
B. Registrar of Deeds
C. Courts sheriffs office
D. Department of Finance


49. A contract whereby real property is given as collateral to secure the performance
or fulfilment of a principal obligation:
A. Chattel mortgage
B. Promisory note
C. Collateral mortgage
D. Real estate mortgage
50. In case of extrajudicial foreclosure of a real estate mortgage, the property

mortgaged shall be sold through:
A. Private auction sale
B. Negotiated sale
C. Banks foreclosed assets
D. Public auction sale
51. For the bank to be able to sell the property under extrajudicial foreclosure there is
a provision in the mortgage called:
A. Special power of attorney
B. Authority to sell
C. Right to bank foreclosure
D. Automatic foreclosure
52. The creditor prohibited the mortgagor from selling the mortgaged property during
the life of the loan which is void and is called:
A. Pactum selium
B. Pactum commissorium
C. Pactum non aliendo
D. Pactum non-sale
53. It is a mortgage which although in the form of a contract of sale is actually a

mortgage:
A. Simulated mortgage
B. Actual mortgage
C. Equitable mortgage
D. Equity mortgage
54. A loan had to be secured by several properties of the owner since one property
was not sufficient. It is referred to as:
A. Consolidated mortgage
B. Blanket mortgage
C. Basket mortgage


D. Multiple mortgage
55. A ground for the foreclosure of a real estate mortgage based on payment is:
A. Non payment of 2 monthly payments
B. Non issuance of postdated checks
C. Non payment of real estate taxes
D. Non payment of principal obligation
56. In mortgage, it is one required by express provision of law:

A. Express mortgage
B. Law mortgage
C. Legal mortgage
D. Judicial mortgage
57. It is regarded as a transaction through which the mortgagor or one claiming in his
right by means of a payment or the performance of a condition, re-acquires or
buys back the value of one title which may have passed under the mortgage:
A. Cancellation of mortgage
B. Recovery of property
C. Release of mortgage
D. Redemption
58. In order that the mortgagee can foreclose the property due to non-payment of
monthly payments, a provision is inserted so the principal obligation will become
due and demandable called:
A. Foreclosure clause
B. Acceleration clause
C. Non payment clause
D. Extrajudicial foreclosure clause
59. The mortgagor may redeem his property which has been foreclosed extrajudically
within a period of:
A. 3 months
B. 1 year from date of foreclosure sale
C. 1 year from registration of foreclosure sale
D. 1 year from date of foreclosure
60. BYT Corporation borrowed from a bank but thereafter the property was
foreclosed. It may redeem the property within a period of:
A. Until, but not after registration of sale
B. 1 year from registration of sale


C. 1 year from date of foreclosure of sale
D. 3 months from date of registration of sale
61. A contract when the creditor acquires the right to receive the fruits of the property
with obligation to apply them to payment of interest and principal:
A. Antichresis
B. Dacion en pago
C. Mortgage
D. Usufruct
62. When personal property is recorded in the Registry of Property as a security for
the performance of an obligation, it is called:
A. Pledge
B. Real estate mortgage
C. Chattel mortgage
D. Registration
63. A contract of lease between the lessor and lessee must be duly notarized for the
purpose of:
A. Validity
B. Registration
C. Binding effect on both parties
D. Requirement by law
64. A contract granting a person the privilege to buy or not to buy certain real
property at anytime within the agreed period at a fixed price:
A. Contract to sell
B. Option
C. Letter of Intent
D. Reservation agreement
65. The law that provides the redemption period of foreclosed property of a
corporation from a bank for a maximum period of 3 months:
A. General banking act
B. Mortgage law
C. Extrajudicial foreclosure law
D. BSP circular


66. The rent control law, RA 9653 covers residential apartments and if located in
municipalities, it is covered if the rentals at the time of the effectivity of the law is
from:
A. 1.00 peso to 10,000 pesos per month
B. 1.00 peso to 12,800 pesos per month
C. 1.00 peso to 6,000 per month
D. 1.00 peso to 5,000 per month
67. In case the area on a purchase of a lot turns out different from that stated in the
contract, the buyer may rescind the sale provided the lack in area is at least:
A. 25%
B. 20%
C. 10%
D. 30%
68. A sale of real property which is valid but which may be annulled on grounds such
as vitiation of consent is classified as:
A. Voidable
B. Valid
C. Simulated
D. Unenforceable
69. A 5 year lease over a house and lot was entered into by the parties and to be valid
the same must be:
A. Registered with Registry of Deeds
B. Duly notarized
C. With a meeting of minds
D. Paid the documentary stamp tax
70. The Maceda Law is applicable in the following case involving a residential
property:
A. Sale through bank financing
B. Sale through pag-ibig loan
C. Sale through financing of payment from the seller
D. Sale through borrowed money lending company



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NOT

FOR SALE!!! THE MATERIAL APPEARS TO BE SIMILAR TO ATTY. ARIEL MARTINEZ

5. In case RR development corporation will engage in the development of land for a

6. Joe, as a real estate appraiser, is a person who conducts valuation/appraisal with

10. An AIPO is a national organization of real estate practitioners. AIPO means:

27. Suspension of a member of the Professional Regulatory Board of Real Estate

39. Under the RESA in addition to certification of registration a successful examinee

57. The penalty to be imposed on an unlicensed real estate appraiser is:

64. If one wanted to be qualified to be a member of the Professional Regulatory

76. In the PRBRES logo, the color blue represents:

80. The law that governs the Professional Regulations Commission:

87. The current Chairperson of the Professional Regulation Commission is:

89. The law governing the Professional Regulation Commission is called:

98. A judgment or decision of the Professional Regulation Commission become final

99. President Noynoy Aquino has declared the Philippine Professionals

CODE OF ETHICS AND RESPONSIBILITIES

8. Attendance in a continuing professional education is provided also in the code of

25. In accepting an appointment or a authority to act for and in behalf of a client or

36. As to negotiations on a property listed exclusively with one broker, it should be

39. So that no controversy or misunderstanding arises between the 2 brokers dealing

FUNDAMENTALS OF PROPERTY OWNERSHIP

3. The maximum amount of foreign ownership of a trading corporation which

26. It is a voluntary limitation on ones right of ownership to land:

40. The sole property of the husband is also called:

46. The best evidence of ownership is the Torrens certificate of title, as it is

General Law Limits: Civil Code

48. In addition to the process of naturalization, a foreigner may also become a

62. Under BP 185, for land to be classified as an urban area, it means:

81. The following is not considered a public grant:

93. The following is not considered as an involuntary grant:

96. Which one of the following is considered as a voluntary limitation on ones of

REAL ESTATE LAWS AND TAXATION

2. The taxation on ownership of real property by a person is governed by:

4. Or the sale of a property classified as capital asset in the amount of 2,300,000.00

6. Foreclosed property of OBB Bank if sold. Shall be classified as what kind of

18. The following does not have a BIR zonal value:

28. A manufacturing corporation bought a parcel of vacant lot in a residential

66. In case of an unfavourable decision by the Local Board of Assessment Appeals,

96. In case of non-redemption of foreclosed property, the capital gains tax or

2. It is the National government agency tasked to provide responsive housing

3. Homeowners Association must register presently with this government agency:

6. Under PD 957, a corporation which intends to develop a subdivision must first

8. It is defined under PD 957 as a parcel of land primarily partitioned for residential

9. A subdivision plan of a registered land wherein a street passageway or open space

21. A complaint may be filled with HLURB in the following instance:

24. A certificate of registration of the developer may be revoked by HLURB except in

36. In case of conviction, a person may be imposed a penalty of imprisonment of:

44. It is referred to as a parcel of land bounded on the sides by streets or pathways or

45. It means the entire parcel of real property divided or to be divided in

46. In subdivisions, it is generally defined as a structure designed or used as

47. It is defined to be a dwelling surrounded by yards under the IRR of PD 957:

50. It is a lot situated at the intersection of two or more streets is:

60. It is a public way intended to be used as pedestrian access to property referred to

65. The homeowners of JJJ Subdivision wanted to put up a homeowners association

66. The following is not a duty of a member of homeowners association:

CONDOMINIUIM CONCEPTS AND OTHER REAL ESTATE HOLDINGS

3. In general, it is not considered part of the Master Deed of a Condominium project:

5. Ownership of foreigners in a townhouse project located in the city is limited to:

9. The following is not part of the Master Deed of a condominium project:

10. The condominium corporation formation is required in case:

11. Ownership of Filipinos in a residential condominium project, if based on number

16. A condominium corporation is important as it will be the management body of