REAL ESTATE BROKERAGE PRACTICE

1. Mr. Greg was handling the sale of a condominium unit and was going to show the unit and its amenities to his client, this step in the
brokerage process is referred to as
a. Procuring Prospects
b. Negotiation
c. Presentation and Demonstration
d. Tripping
2. The following is not considered a function of a real estate broker
a. To sell a house and lot of the owner
b. To assist the buyer in obtaining a housing loan
c. To draft the legal contract to sell
d. To find a developer for joint venture
3. Ms. Diana was setting up her realty marketing company to market the project of a developer and in this case, she must make sure
that her salespersons are
a. Duly accredited with HLURB
b. Duly accredited with PRC
c. Duly accredited with DTI
d. Duly accredited by the developer
4. The law that governs the relationship between the real estate broker and owner in a lease transaction is
a. Law on Brokerage
b. Law on Agency
c. Law on Lease
d. Law on Real Estate Service
5. One of the most important things for a real estate broker to be entitled to a professional fee is
a. He must be the procuring cause
b. He must find a cash buyer
c. He must be registered with HLURB
d. He must post a bond required by the owner
6. If a real estate broker would want to entitled to professional fee even if the owner is the one who was able to find a buyer, he must
get the following authority to sell
a. Open listing
b. Exclusive Right to Sell
c. Exclusive Agency
d. Non-exclusive authority
7. A main difference between the real estate broker versus the real estate dealer is that the broker earns a professional fee, while the
real estate sealer earns
a. Profit
b. A commission
c. Percentage of the selling price
d. Over riding commission
8. In real estate brokerage under a contract of agency, the owner is the principal while the real estate broker is referred to as
a. Principal
b. Agent
c. Sales agent
d. Fiduciary agent
9. The following data is not really necessary in the authority to sell given to real estate broker for the sale of a vacant lot
a. Shape of the lot
b. Area in sqms of lot
c. Lot No.
d. TCT No.
10. Mr. and Mrs. Haus gave an authority to broker A to sell their 2 story house and also gave another authority to broker B. This kind of
authority is referred to as
a. Dual authority to sell
b. Open Listing
c. Exclusive Listing
d. Limited exclusive listing
11. An arrangement where the real estate broker will get the professional fee only beyond the minimum amount that the owner would
want to receive is referred to as
a. Open Listing
b. Net percentage listing
c. Net listing
d. Minimum Net Listing
12. Only the following may be a professional licensed real estate broker
a. Mr. Jose Luna
b. Open realty company
c. SMBC Realty Devpt. Corporation
d. Former natural born Filipino now Canadian citizen
13. The following is not really an essential element of real estate brokerage
 a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy
14. A 2,000 square meter lot of the owner was being sold by the real estate broker to his buyer, when is he entitled to commission
a. Upon perfection of the contract
b. Upon consummation of the contract
c. Upon transfer of title to the buyer
d. Upon downpayment of the buyer
15. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee
a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer
16. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of
authority but was bought already after, the broker will still be entitled to professional fee, and is referred to as
a. Safety Holdover Clause
b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause
17. Broker A and B was able to sell a lot and they agreed on the sharing of their commission, which, absent any agreement, will generally
be
a. Depending on agreement
b. 50-50 equal sharing
c. 60-40 sharing for the buying broker
d. 50-50 after deducting expenses of the listing broker
18. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground includes all the
rights, interests and benefits related to the ownership of real estate
a. Real Estate
b. Real estate rights
c. Real property
d. Real estate ownership
19. To engage in real estate brokerage in the field of leasing warehouses, the person must be
a. Registered with HLURB
b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB
20. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a
a. Real estate dealer
b. Real estate businessman
c. Real estate broker
d. Real estate trader

21. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is
a. To hire real estate salespersons
b. To secure property listings
c. To go tripping with clients
d. To put up an office
22. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is
a. Null and void
b. Valid
c. Voidable
d. Not valid
23. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to
a. Bureau of Internal Revenue
b. HLURB
c. Treasurer’s Office
d. PRC
24. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency
a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
25. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following
a. Registration Number with PRC
 b. Area of specialization
c. HLURB License Number
d. Expiry date of License
26. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following
a. Professional Identification card
b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt
27. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers
a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency
28. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision
a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development
29. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called
a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing
30. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a
a. Prospect d. Sure buyer
b. Client
c. Ready buyer
31. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

32. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

33. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

34. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

35. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

36. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
37. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

38. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

39. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

40. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

41. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

42. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
43. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

44. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

45. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

46. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

47. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

48. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
49. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

50. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

51. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

52. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

53. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

54. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
55. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

56. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

57. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

58. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
 c. P 3,125,000.00
d. P 3,491,620.00

59. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

60. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing
61. A main difference between the real estate broker versus the real estate dealer is that the broker earns a professional fee, while the
real estate sealer earns

a. Profit
b. A commission
c. Percentage of the selling price
d. Over riding commission

62. In real estate brokerage under a contract of agency, the owner is the principal while the real estate broker is referred to as

a. Principal
b. Agent
c. Sales agent
d. Fiduciary agent

63. The following data is not really necessary in the authority to sell given to real estate broker for the sale of a vacant lot

a. Shape of the lot

b. Area in sqms of lot
c. Lot No.
d. TCT No.

64. Mr. and Mrs. Haus gave an authority to broker A to sell their 2 story house and also gave another authority to broker B. This kind of
authority is referred to as

a. Dual authority to sell

b. Open Listing
c. Exclusive Listing
d. Limited exclusive listing

65. An arrangement where the real estate broker will get the professional fee only beyond the minimum amount that the owner would
want to receive is referred to as

a. Open Listing
b. Net percentage listing
c. Net listing
d. Minimum Net Listing

66. Only the following may be a professional licensed real estate broker

a. Mr. Jose Luna

b. Open realty company
c. SMBC Realty Devpt. Corporation
d. Former natural born Filipino now Canadian citizen
67. The following is not really an essential element of real estate brokerage

a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy

68. A 2,000 square meter lot of the owner was being sold by the real estate broker to his buyer, when is he entitled to commission

a. Upon perfection of the contract

b. Upon consummation of the contract
c. Upon transfer of title to the buyer
d. Upon downpayment of the buyer

69. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee

a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer

70. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of
authority but was bought already after, the broker will still be entitled to professional fee, and is referred to as

a. Safety Holdover Clause

b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause

71. Broker A and B was able to sell a lot and they agreed on the sharing of their commission, which, absent any agreement, will generally
be

a. Depending on agreement
b. 50-50 equal sharing
c. 60-40 sharing for the buying broker
d. 50-50 after deducting expenses of the listing broker

72. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground includes all the
rights, interests and benefits related to the ownership of real estate

a. Real Estate
b. Real estate rights
c. Real property
d. Real estate ownership
73. To engage in real estate brokerage in the field of leasing warehouses, the person must be

a. Registered with HLURB

b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB

74. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a

a. Real estate dealer

b. Real estate businessman
c. Real estate broker
d. Real estate trader

75. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is

a. To hire real estate salespersons

b. To secure property listings
c. To go tripping with clients
d. To put up an office

76. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is

a. Null and void

b. Valid
c. Voidable
d. Not valid

77. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to

a. Bureau of Internal Revenue

b. HLURB
c. Treasurer’s Office
d. PRC

78. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency

a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
79. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following

a. Registration Number with PRC

b. Area of specialization
c. HLURB License Number
d. Expiry date of License

80. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following

a. Professional Identification card

b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt

81. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers

a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency

82. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision

a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development

83. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called

a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing

84. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a

a. Prospect
b. Client
c. Ready buyer
d. Sure buyer
85. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

86. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

87. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

88. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

89. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

90. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
91. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

92. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

93. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

94. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

95. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

96. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
97. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

98. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

99. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

100. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

101. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

102. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
103. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

104. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

105. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

106. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

107. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

108. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
109. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

110. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

111. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

112. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
 c. P 3,125,000.00
d. P 3,491,620.00

113. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

114. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing
115. The following is not really an essential element of real estate brokerage

a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy

116. A 2,000 square meter lot of the owner was being sold by the real estate broker to his buyer, when is he entitled to commission

a. Upon perfection of the contract

b. Upon consummation of the contract
c. Upon transfer of title to the buyer
d. Upon downpayment of the buyer

117. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee

a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer

118. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of
authority but was bought already after, the broker will still be entitled to professional fee, and is referred to as

a. Safety Holdover Clause

b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause

119. Broker A and B was able to sell a lot and they agreed on the sharing of their commission, which, absent any agreement, will generally
be

a. Depending on agreement
b. 50-50 equal sharing
c. 60-40 sharing for the buying broker
d. 50-50 after deducting expenses of the listing broker

120. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground includes all the
rights, interests and benefits related to the ownership of real estate

a. Real Estate
b. Real estate rights
c. Real property
d. Real estate ownership
121. To engage in real estate brokerage in the field of leasing warehouses, the person must be

a. Registered with HLURB

b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB

122. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a

a. Real estate dealer

b. Real estate businessman
c. Real estate broker
d. Real estate trader

123. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is

a. To hire real estate salespersons

b. To secure property listings
c. To go tripping with clients
d. To put up an office

124. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is

a. Null and void

b. Valid
c. Voidable
d. Not valid

125. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to

a. Bureau of Internal Revenue

b. HLURB
c. Treasurer’s Office
d. PRC

126. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency

a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
127. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following

a. Registration Number with PRC

b. Area of specialization
c. HLURB License Number
d. Expiry date of License

128. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following

a. Professional Identification card

b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt

129. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers

a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency

130. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision

a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development

131. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called

a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing

132. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a

a. Prospect
b. Client
c. Ready buyer
d. Sure buyer
133. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

134. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

135. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

136. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

137. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

138. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
139. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

140. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

141. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

142. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

143. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

144. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
145. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

146. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

147. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

148. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

149. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

150. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
151. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

152. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

153. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

154. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

155. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

156. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
157. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

158. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

159. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

160. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
 c. P 3,125,000.00
d. P 3,491,620.00

161. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

162. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing
163. A main difference between the real estate broker versus the real estate dealer is that the broker earns a professional fee, while the
real estate sealer earns

a. Profit
b. A commission
c. Percentage of the selling price
d. Over riding commission

164. In real estate brokerage under a contract of agency, the owner is the principal while the real estate broker is referred to as

a. Principal
b. Agent
c. Sales agent
d. Fiduciary agent

165. The following data is not really necessary in the authority to sell given to real estate broker for the sale of a vacant lot

a. Shape of the lot

b. Area in sqms of lot
c. Lot No.
d. TCT No.

166. Mr. and Mrs. Haus gave an authority to broker A to sell their 2 story house and also gave another authority to broker B. This kind of
authority is referred to as

a. Dual authority to sell

b. Open Listing
c. Exclusive Listing
d. Limited exclusive listing

167. An arrangement where the real estate broker will get the professional fee only beyond the minimum amount that the owner would
want to receive is referred to as

a. Open Listing
b. Net percentage listing
c. Net listing
d. Minimum Net Listing

168. Only the following may be a professional licensed real estate broker

a. Mr. Jose Luna

b. Open realty company
c. SMBC Realty Devpt. Corporation
d. Former natural born Filipino now Canadian citizen
169. The following is not really an essential element of real estate brokerage

a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy

170. A 2,000 square meter lot of the owner was being sold by the real estate broker to his buyer, when is he entitled to commission

a. Upon perfection of the contract

b. Upon consummation of the contract
c. Upon transfer of title to the buyer
d. Upon downpayment of the buyer

171. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee

a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer

172. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of
authority but was bought already after, the broker will still be entitled to professional fee, and is referred to as

a. Safety Holdover Clause

b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause

173. Broker A and B was able to sell a lot and they agreed on the sharing of their commission, which, absent any agreement, will generally
be

a. Depending on agreement
b. 50-50 equal sharing
c. 60-40 sharing for the buying broker
d. 50-50 after deducting expenses of the listing broker

174. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground includes all the
rights, interests and benefits related to the ownership of real estate

a. Real Estate
b. Real estate rights
c. Real property
d. Real estate ownership
175. To engage in real estate brokerage in the field of leasing warehouses, the person must be

a. Registered with HLURB

b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB

176. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a

a. Real estate dealer

b. Real estate businessman
c. Real estate broker
d. Real estate trader

177. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is

a. To hire real estate salespersons

b. To secure property listings
c. To go tripping with clients
d. To put up an office

178. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is

a. Null and void

b. Valid
c. Voidable
d. Not valid

179. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to

a. Bureau of Internal Revenue

b. HLURB
c. Treasurer’s Office
d. PRC

180. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency

a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
181. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following

a. Registration Number with PRC

b. Area of specialization
c. HLURB License Number
d. Expiry date of License

182. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following

a. Professional Identification card

b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt

183. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers

a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency

184. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision

a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development

185. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called

a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing

186. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a

a. Prospect
b. Client
c. Ready buyer
d. Sure buyer
187. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

188. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

189. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

190. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

191. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

192. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
193. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

194. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

195. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

196. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

197. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

198. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
199. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

200. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

201. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

202. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

203. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

204. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
205. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

206. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

207. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

208. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

209. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

210. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
211. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

212. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

213. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

214. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
 c. P 3,125,000.00
d. P 3,491,620.00

215. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

216. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing
217. To engage in real estate brokerage in the field of leasing warehouses, the person must be

a. Registered with HLURB

b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB

218. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a

a. Real estate dealer

b. Real estate businessman
c. Real estate broker
d. Real estate trader

219. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is

a. To hire real estate salespersons

b. To secure property listings
c. To go tripping with clients
d. To put up an office

220. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is

a. Null and void

b. Valid
c. Voidable
d. Not valid

221. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to

a. Bureau of Internal Revenue

b. HLURB
c. Treasurer’s Office
d. PRC

222. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency

a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
223. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following

a. Registration Number with PRC

b. Area of specialization
c. HLURB License Number
d. Expiry date of License

224. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following

a. Professional Identification card

b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt

225. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers

a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency

226. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision

a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development

227. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called

a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing

228. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a

a. Prospect
b. Client
c. Ready buyer
d. Sure buyer
229. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

230. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

231. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

232. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

233. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

234. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
235. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

236. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

237. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

238. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

239. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

240. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
241. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

242. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

243. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

244. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

245. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

246. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
247. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

248. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

249. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

250. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

251. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

252. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
253. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

254. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

255. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

256. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
 c. P 3,125,000.00
d. P 3,491,620.00

257. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

258. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing
259. A main difference between the real estate broker versus the real estate dealer is that the broker earns a professional fee, while the
real estate sealer earns

a. Profit
b. A commission
c. Percentage of the selling price
d. Over riding commission

260. In real estate brokerage under a contract of agency, the owner is the principal while the real estate broker is referred to as

a. Principal
b. Agent
c. Sales agent
d. Fiduciary agent

261. The following data is not really necessary in the authority to sell given to real estate broker for the sale of a vacant lot

a. Shape of the lot

b. Area in sqms of lot
c. Lot No.
d. TCT No.

262. Mr. and Mrs. Haus gave an authority to broker A to sell their 2 story house and also gave another authority to broker B. This kind of
authority is referred to as

a. Dual authority to sell

b. Open Listing
c. Exclusive Listing
d. Limited exclusive listing

263. An arrangement where the real estate broker will get the professional fee only beyond the minimum amount that the owner would
want to receive is referred to as

a. Open Listing
b. Net percentage listing
c. Net listing
d. Minimum Net Listing

264. Only the following may be a professional licensed real estate broker

a. Mr. Jose Luna

b. Open realty company
c. SMBC Realty Devpt. Corporation
d. Former natural born Filipino now Canadian citizen
265. The following is not really an essential element of real estate brokerage

a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy

266. A 2,000 square meter lot of the owner was being sold by the real estate broker to his buyer, when is he entitled to commission

a. Upon perfection of the contract

b. Upon consummation of the contract
c. Upon transfer of title to the buyer
d. Upon downpayment of the buyer

267. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee

a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer

268. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of
authority but was bought already after, the broker will still be entitled to professional fee, and is referred to as

a. Safety Holdover Clause

b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause

269. Broker A and B was able to sell a lot and they agreed on the sharing of their commission, which, absent any agreement, will generally
be

a. Depending on agreement
b. 50-50 equal sharing
c. 60-40 sharing for the buying broker
d. 50-50 after deducting expenses of the listing broker

270. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground includes all the
rights, interests and benefits related to the ownership of real estate

a. Real Estate
b. Real estate rights
c. Real property
d. Real estate ownership
271. To engage in real estate brokerage in the field of leasing warehouses, the person must be

a. Registered with HLURB

b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB

272. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a

a. Real estate dealer

b. Real estate businessman
c. Real estate broker
d. Real estate trader

273. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is

a. To hire real estate salespersons

b. To secure property listings
c. To go tripping with clients
d. To put up an office

274. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is

a. Null and void

b. Valid
c. Voidable
d. Not valid

275. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to

a. Bureau of Internal Revenue

b. HLURB
c. Treasurer’s Office
d. PRC

276. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency

a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
277. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following

a. Registration Number with PRC

b. Area of specialization
c. HLURB License Number
d. Expiry date of License

278. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following

a. Professional Identification card

b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt

279. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers

a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency

280. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision

a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development

281. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called

a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing

282. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a

a. Prospect
b. Client
c. Ready buyer
d. Sure buyer
283. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

284. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

285. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

286. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

287. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

288. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
289. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

290. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

291. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

292. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

293. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

294. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
295. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

296. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

297. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

298. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

299. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

300. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
301. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

302. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

303. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

304. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

305. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

306. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
307. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

308. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

309. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

310. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
 c. P 3,125,000.00
d. P 3,491,620.00

311. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

312. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing
313. The following is not really an essential element of real estate brokerage

a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy

314. A 2,000 square meter lot of the owner was being sold by the real estate broker to his buyer, when is he entitled to commission

a. Upon perfection of the contract

b. Upon consummation of the contract
c. Upon transfer of title to the buyer
d. Upon downpayment of the buyer

315. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee

a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer

316. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of
authority but was bought already after, the broker will still be entitled to professional fee, and is referred to as

a. Safety Holdover Clause

b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause

317. Broker A and B was able to sell a lot and they agreed on the sharing of their commission, which, absent any agreement, will generally
be

a. Depending on agreement
b. 50-50 equal sharing
c. 60-40 sharing for the buying broker
d. 50-50 after deducting expenses of the listing broker

318. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground includes all the
rights, interests and benefits related to the ownership of real estate

a. Real Estate
b. Real estate rights
c. Real property
d. Real estate ownership
319. To engage in real estate brokerage in the field of leasing warehouses, the person must be

a. Registered with HLURB

b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB

320. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a

a. Real estate dealer

b. Real estate businessman
c. Real estate broker
d. Real estate trader

321. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is

a. To hire real estate salespersons

b. To secure property listings
c. To go tripping with clients
d. To put up an office

322. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is

a. Null and void

b. Valid
c. Voidable
d. Not valid

323. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to

a. Bureau of Internal Revenue

b. HLURB
c. Treasurer’s Office
d. PRC

324. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency

a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
325. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following

a. Registration Number with PRC

b. Area of specialization
c. HLURB License Number
d. Expiry date of License

326. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following

a. Professional Identification card

b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt

327. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers

a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency

328. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision

a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development

329. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called

a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing

330. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a

a. Prospect
b. Client
c. Ready buyer
d. Sure buyer
331. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

332. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

333. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

334. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

335. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

336. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
337. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

338. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

339. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

340. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

341. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

342. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
343. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

344. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

345. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

346. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

347. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

348. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
349. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

350. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

351. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

352. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

353. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

354. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
355. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

356. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

357. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

358. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
 c. P 3,125,000.00
d. P 3,491,620.00

359. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

360. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing
361. A main difference between the real estate broker versus the real estate dealer is that the broker earns a professional fee, while the
real estate sealer earns

a. Profit
b. A commission
c. Percentage of the selling price
d. Over riding commission

362. In real estate brokerage under a contract of agency, the owner is the principal while the real estate broker is referred to as

a. Principal
b. Agent
c. Sales agent
d. Fiduciary agent

363. The following data is not really necessary in the authority to sell given to real estate broker for the sale of a vacant lot

a. Shape of the lot

b. Area in sqms of lot
c. Lot No.
d. TCT No.

364. Mr. and Mrs. Haus gave an authority to broker A to sell their 2 story house and also gave another authority to broker B. This kind of
authority is referred to as

a. Dual authority to sell

b. Open Listing
c. Exclusive Listing
d. Limited exclusive listing

365. An arrangement where the real estate broker will get the professional fee only beyond the minimum amount that the owner would
want to receive is referred to as

a. Open Listing
b. Net percentage listing
c. Net listing
d. Minimum Net Listing

366. Only the following may be a professional licensed real estate broker

a. Mr. Jose Luna

b. Open realty company
c. SMBC Realty Devpt. Corporation
d. Former natural born Filipino now Canadian citizen
367. The following is not really an essential element of real estate brokerage

a. Honesty
b. Working Knowledge of Construction
c. Proficient in English
d. Tact and diplomacy

368. A 2,000 square meter lot of the owner was being sold by the real estate broker to his buyer, when is he entitled to commission

a. Upon perfection of the contract

b. Upon consummation of the contract
c. Upon transfer of title to the buyer
d. Upon downpayment of the buyer

369. Two real estate brokers met and the other one had the listing. In case of sale, what will be the sharing of the professional fee

a. Equal sharing
b. As agreed between the brokers
c. As agreed with the owner
d. As agreed between the owner and the buyer

370. To protect the real estate broker, a provision may be included in the authority that if the buyer is registered within the period of
authority but was bought already after, the broker will still be entitled to professional fee, and is referred to as

a. Safety Holdover Clause

b. Holdover Clause
c. Exclusive authority to sell
d. Commission Holdover Clause

371. Broker A and B was able to sell a lot and they agreed on the sharing of their commission, which, absent any agreement, will generally
be

a. Depending on agreement
b. 50-50 equal sharing
c. 60-40 sharing for the buying broker
d. 50-50 after deducting expenses of the listing broker

372. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground includes all the
rights, interests and benefits related to the ownership of real estate

a. Real Estate
b. Real estate rights
c. Real property
d. Real estate ownership
373. To engage in real estate brokerage in the field of leasing warehouses, the person must be

a. Registered with HLURB

b. Licensed under PRC
c. Licensed under PRC and registered with HLURB
d. Licensed under PRC and licensed under HLURB

374. A person, natural or juridical, who is engaged in the trade of leasing his own real properties and with the purpose of realizing profit is
a

a. Real estate dealer

b. Real estate businessman
c. Real estate broker
d. Real estate trader

375. Mr. Roger wanted to start out in real estate brokerage practice. To do so, the first step in the real estate brokerage practice is

a. To hire real estate salespersons

b. To secure property listings
c. To go tripping with clients
d. To put up an office

376. Mr. Chow told the broker to sell his condo unit and he will give 5% professional fee but no authority in writing was given. The
authority is

a. Null and void

b. Valid
c. Voidable
d. Not valid

377. Julia just passed the broker’s examinations and got her license. She must also pay professional
tax to

a. Bureau of Internal Revenue

b. HLURB
c. Treasurer’s Office
d. PRC

378. In case the broker will assist the buyer to acquire the house and he will look for a house, it will be considered what type of agency

a. Purchase agency
b. Sales agency
c. Lease agency
d. Exchange agency
379. In their calling card, advertisements, it is required that the real estate broker who deals in sales of rawland indicates the following

a. Registration Number with PRC

b. Area of specialization
c. HLURB License Number
d. Expiry date of License

380. Grace became a broker last year and rented an office space for her realty office and will be required to display in her office the
following

a. Professional Identification card

b. PRC Certificate of Registration
c. Picture of oath taking under PRC
d. Privilege Tax receipt

381. An authority given by a buyer for the broker to secure financing, or an authority given by a financing firm for the broker to procure
borrowers

a. Loan agency
b. Financing agency
c. Mortgage agency
d. Borrower’s agency

382. This is the authority given by a party for the broker to look for a partner, whether the landowner or the developer to develop a
residential subdivision

a. Development agency
b. Sales agency
c. Joint venture agency
d. Joint project development

383. When brokers come into a cooperative arrangement where properties for sale or wanted by a broker are circularized and shared
with others is called

a. Listing sharing
b. Multiple listing
c. Cooperative listing
d. Organized listing

384. Winnie found a buyer who might be willing to buy and pay cash for the lot in the subdivision.
The buyer would generally be classified as a

a. Prospect
b. Client
c. Ready buyer
d. Sure buyer
385. Mr. Rod got a listing from the corporation to sell their rawland in Batangas. Mr. Rod must get the following to protect his authority

a. Notarized listing authority

b. Board resolution of corporation authorizing the signatory
c. SEC articles of incorporation of the corporation
d. Signature of the president of the corporation

386. Which of the following is not really a part of the steps in real estate brokerage

a. Negotiations
b. Closing
c. Presentation and Demonstration
d. Turnover of Possession of Property

387. The buyer and seller already agreed on the final price and the buyer gave earnest money to the seller. The earnest money shall be
considered

a. Separate from the purchase price

b. Forming part of the purchase price
c. A reservation amount
d. Option money

388. It is that step in real estate brokerage when, thru the mediation of the broker, the minds of the parties meet and the buyer’s offer of
price, terms and other conditions become acceptable to the seller

a. Negotiations
b. Closing
c. Agreement
d. Perfection of contract

389. An industrial land was sold by two brokers at P12,000,000.00 with 3& professional fee. The brokers agreed that the listing broker
shall get 45% of the commission. What will be the share of the listing broker?

a. P 160,000.00
b. P 180,000.00
c. P 198,000.00
d. P 162,000.00

390. An agreement wherein the consideration of a contract, or a portion thereof, is entrusted to a third party in a sale transaction

a. Earnest money agreement

b. Contract to sell
c. Option contract
d. Escrow agreement
391. The person, whether natural or judicial to whom the part or whole of the money is entrusted to another person other than the
parties

a. Escrow agent
b. Real estate broker
c. Depository bank
d. Third party

392. The authority obtained by a real estate broker to find a lessee for the property of an owner is referred to in real estate as

a. Listing
b. Lease authority
c. Power of attorney
d. Lessor’s agreement to lease

393. Rod entered into an option to buy the land in front of their building in the amount of P100,000.00. In such case. The option money
paid shall

a. Form part of the purchase price

b. Be returned in case Rod does not push through
c. Separate and distinct from the purchase price
d. Shall be deducted from the total price

394. In case the seller requests for time to vacate the property, the balance or portion of purchase price may be put in escrow or another
option

a. Retention money until seller vacates

b. Cancellation of the sale
c. Eject the seller for failure to vacate
d. Reduce the balance of the purchase price

395. In a sale of rawland the following is not part of the negotiations between the seller and the buyer

a. Price and terms

b. Expenses for execution and registration of the sale
c. Payment of the association dues
d. Real estate taxes and other expenses

396. Oscar wanted to sell condo units in a project near his place. In case he decides to do so, the selling of the same is generally referred
to as

a. Condo Selling
b. Project Selling
c. General Real Estate Brokerage Practice
d. Pre Selling
397. The following is not contained in an authority to sell a house and lot located in a subdivision

a. Type of improvements
b. Taxes to be paid
c. Broker’s professional fee
d. Sharing of broker with other brokers

398. The owner gave a listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property to his
buyer. This authority is referred to as

a. Non exclusive listing

b. Exclusive agency listing
c. Exclusive right to sell
d. Open listing

399. The relation of trust which governs that of the owner and the listing broker is referred to as

a. Loyalty
b. Ethical relationship
c. Fiduciary relationship
d. Trustor-trustee relationship

400. Two brokers sold a property at P8,000,000.00 at 5% professional fee. If broker A got P
160,000.00, how much is the share of broker B?

a. P 200,000.00
b. P 160,000.00
c. P 240,000.00
d. P400,000.00

401. The real estate broker may advertise the property for sale provided

a. Only in the newspaper classified ads

b. The consent of the owner is given
c. It is an open listing
d. It is an exclusive listing

402. The buyer backed out of the sale after paying the earnest money to the seller. In general, the earnest money in this case will be

a. Refunded to the buyer

b. Forfeited
c. Equally shared between the buyer and seller
d. Partially returned to the buyer as seller wishes
403. The following is not a mode of extinguishing agency between the owner and the broker

a. Irrevocable authority
b. Death of the seller
c. Accomplishment of the purpose
d. Withdrawal of the broker

404. The broker hired a real estate salesperson to sell the house. His liability for the real estate salesperson shall be limited to

a. Tripping with the client

b. Negotiations with the client
c. Acts within the scope of authority given by the broker
d. Preparation of sale documents

405. The following is not considered a duty of the real estate broker

a. To be loyal to the seller who gave the authority

b. To account all money entrusted to the broker
c. To inform all facts relevant to the transaction
d. To warrant that the title is transferred to the buyer

406. It is not expected that the real estate broker have a working knowledge of the following

a. Basic Real estate economics

b. Real estate assessment
c. Real estate market
d. Financing practices in real estate

407. A major differences between the real estate broker and the real estate dealer is

a. Only the broker can be a natural person

b. Only the broker hires a real estate salesperson
c. Only the broker involves selling of real property
d. Only the broker earns professional fees

408. The following is a ground for non payment of professional fee to the real estate broker

a. Broker guilty of breach of trust

b. Buyer procured by a cooperating broker of the broker
c. Buyer buys on terms agreed by owner
d. Buyer able to reduce price at price agreed by owner
409. The real estate broker in deciding to sell subdivision projects, must undertake the following before engaging in practice

a. Obtain license from PRC and license from HLURB

b. Obtain license from PRBRES
c. Obtain license from PRC and register with HLURB
d. Have his or her salespersons licensed under PRC

410. A buyer was found by the real estate broker who was willing to buy the lot but could not afford the price. The buyer may be referred
to in the meantime in real estate as a

a. Prospect
b. Suspect
c. Potential buyer
d. Buyer in good faith

411. The property owner wanted a net amount of P4,500,000.00 and seller will pay for the capital gains tax and the 5% broker’s
commission. What price should the property be sold?

a. P 4,995,000.00
b. P 5,056,180.00
c. P 5,142,857.00
d. P 5,062,500.00

412. An owner bought a lot but would like to sell it with a profit of 25% of his cost of P2,500,000.00 with capital gains, 3% commission
and doc stamps tax for his account. How much should the broker sell it?

a. P 3,470,031.00
b. P 2,762,500.00
c. P 3,125,000.00
d. P 3,491,620.00

413. What is the net commission before tax of a broker who sold a house for P 7,500,000.00 if 5% is given to Mr. B as referral fee

a. P 356,250.00
b. P 375,000.00
c. P 320,625.00
d. P 187,500.00

414. An authority granted to two or more brokers to lease a property

a. Non-exclusive listing
b. Multiple listing
c. Authority to lease
d. Exclusive open listing