13 Real Estate Instrument Reviewer Flashcards - Quizlet

9/22/23, 2:30 AM Reviewer Flashcards | Quizlet
Reviewer Study
Social Science Economics
Reviewer
10 studiers today 4.7 (3 reviews)
Terms in this set (559)
Question Answer
A building is depreciated at 40 years

2.5% per annum using the age
life method. What is the
estimated useful life of the
building?
A person who determines the Real Estate Appraiser

land value
Real Estate Appraiser A person who determines the land value
Using the 4-3-2-1 rule (depth ₱ 4 000 000

rule) a 5 hectare belonging to
different owners was sold for ₱
10 000 000. What is the share
of lot owners owning the first
quarter abutting the road?
The following are determinants except: A) contribution B) demand C) purchasing

of value in appraisals of realty value D) scarcity E) utility
https://quizlet.com/78070352/reviewer-flash-cards/ 1/94
Reviewer
The principle of value which Principle of Conformity
states that the value of a
property tends to be enhanced
when there is reasonable
homogeneity in use
An appraisal technique in Market Data Approach

which comparative estimates
are made between prices paid
in actual transactions and the
current listings
Income approach for an B) on commercial and investment property rented

appraisal would be most by tenants
widely used: A) on a newly
opened subdivision B) on
commercial and investment
property rented by tenants C)
on property heavily
mortgaged D) on property
heavily insured E) none of the
above
The income approach to value Anticipation

is an application of the
principle of
This principle holds that when Principle of Competition

two or more commodities with
substantially the same utility
are available the one with the
lowest price receives the
greatest demands and widest
distribution
Reviewer
In the computation of Age-Life Method Straight Line of Depreciation
depreciation of real properties
the method that is widely used
by practitioners is the
An appraisal principle which Principle of Progression

holds that the value of
property tends to be enhanced
by association with superior
properties
Several houses valued at Principle of Regression

₱1000000 and ₱2 000 000
were built in an area where an
existing house valued at ₱3
000 000 is located. As a result
the value of the latter
decreased. The real estate
principle of value that applies
to this situation is called the_
Invstr s intnding 2 buy a prprty ₱25 632 000 (Based on Gross Income Multiplier)
wch hs anual incme f
₱3600000. N hs mrket stdy he
fnd out dt a comparble prprty
w/ anual gros incme f
₱2500000 ws rcntly sold 4
₱17800000. Indcted by d
comprble prprty @hw mch
shld d invstr buy d subj prprty?
Reviewer
Thee of the following factors C) Infilltration
create value in real estate.
Which one does not create
value? A) demand B) utility C)
infiltration D) scarcity
Which of the following is never C) Conviction of the previous owner on charges of

considered as a factor in the moral turpitude
valuation of a house and lot?
A) modification in zoning
regulations B) topography of
the lot C) conviction of the
previous owner on charges of
moral turpitude D) functional
obsolescence
The selling price of a real B) Exchange Value

estate is usually based on its:
A) speculative value B)
exchange value C) intrinsic
value D) market value E) none
of the above
The increase in value of real Unearned Increment

estate without any expense of
the owner is
Refers to that use which will Highest and Best Use

yield the maximum return at a
given time
Reviewer
To be considered comparable E) in an Arm's Length Transaction
to the subject property a
comparable property must
have been sold: A) with a
conventional mortgage B) for
all cash C) without any form of
secondary financing D) for
credit E) in an arm's length
transaction
Added value inherent on a lot E) Corner Influence

bounded by two streets: A)
cooperate interest B) plottage
value C) social value D) joint
venture E) corner influence
The difference between the Buyer's Equity

contract price and the
loanable amount is
Refers to the use an object is Utility

put to the services it renders
and wants it satisfies
Which f the ff is nt essential n d C) Assessed Value indicated in the Tax Declaration

determination f Fair Market
Value? A.knowledge n prudent
seller & buyer B.reasonable
exposure of the property n d
open market C.assessed value
indicated n d Tax Declaration
D.Willing buyer and willing
seller
Reviewer
Method of finding land value in Abstraction or Extraction
which all improvement costs
(less depreciation) are
deducted from sales price
The number of years elapsed Actual Age or historical age or Chronological Age
since the original structure was
built
A method of computing Age-life method or straight line method

accrued depreciation in which
the cost of a building is
depreciated at a fixed annual
percentage rate
An estimate of quantity quality Appraisal

or value
The process through which Appraisal

conclusions of property value
are obtained
The report setting forth the Appraisal

process of estimating value
Approaches used in the Cost Approach Income Approach and Market Data
appraisal of property Approach
An appraiser's written opinion Appraiser's Report

to a client of the value south
for the subject property as of
the date of appraisal giving all
details of the appraisal process
Reviewer
A trans. n wch both buyer n at Arm's Length Transaction
seller act willingly n under no
pressure w/ knwledge f d
prsent conditions n future
potential of d prprty n in wch d
prprty hs bn offered on d open
market 4 a reasonable length f
time n there r no unusual
circumstances
Loss of value from forces Economic obsolescence external obsolescence

outside the building or
property such as changes in
optimum land use legislative
enactments that restrict or
impair property rights and
changes in supply-demand
relationships
A building wall or fence that Encroachment

extends beyond the land of the
owner and illegally intrudes on
land of an adjoining owner or a
street or an alley
The age of a building based on Effective Age

the actual wear and tear and
maintenance or lack of it that
the building has received
The period of time during Economic Life

which a structure may
reasonably by expected to
perform the function for which
it was designed or intended
Reviewer
For appraisal purposes loss in Depreciation
value due to any cause
including physical
deterioration functional
obsolescence and external
obsolescence
Kinds of depreciation in deterioration functional obsolescence and

appraisal : economic obsolescence
A statistical study f human Demography

populations especially in
reference 2 size density and
population. Information therein
s f particular importance 2
people involved in market
analyses n highest n best use
analyses in determining
potential land uses f sites
Prvsns n a deed lmtin d ftre Deed Restrictions

uses f d prprty. Ds my tk any
frm: Dy my lmt d dnsty f bldgs.
dctte d typ f strctrs dt cn b
erctd n prvnt bldgs. frm bein
usd 4 spec. prpses or usd @ al.
Ds may impse a myriad f lmittns
n cnditns afctin d prprty rgts
apraisd.
The principle that buildings Principle of Conformity

should be similar in design
construction and age to other
buildings in the neighborhood
to enhance appeal and value
Reviewer
The principle that a successful Principle of Competition
business attracts other such
businesses which may dilute
profits
Properties that are substantially Comparables

equivalent to the subject
property
The principle that no physical Principle of Change

or economic condition ever
remains constant
Defects in a building or Functional Obsolescence

structure that detract from its
value or marketability usually
the result of layout design or
other features that are less
desirable than features
designed for the same
functions in newer property
A lease of land only on which Ground Lease

the lesee usually owns the
building or is required to build
as specified by the lease. Such
leases are usually long-term
net leases the lessee's rights
and obligations continue until
the lease expires or is
terminated by def
Reviewer
Rent paid for the right to use Ground Rent
and occupy land according to
the terms of a ground lease
The legally and physically Highest and Best Use

possible use of land that is
likely to produce the highest
land (or property) value it
considers the balance between
site and improvements as well
as the intensity and length of
uses
An appraisal technique used to Index Method

estimate the reproduction or
replacement cost the appraiser
multiplies the original cost of
construction by a price index
for the geographic area to
allow for price changes
The lessor's interest and rights Lease Fee

in the real estate being leased
The leasee's right to possess Leasehold

and use real estate during the
term of a lease. This is
generally considered a
personal property interest .
Reviewer
An improvement to property Overimprovement
that is more than warranted by
the property's highest and best
use and thus not likely to
contribute its cost to the total
market value of the property
The subsequent increase in the Plottage Value

unit value of a group of
adjacent properties when they
are combined into one
property in a process called
assemblage
A lease commonly used for Percentage Lease

commercial property that
provides for a rental based on
the tenant's gross sales at the
premises
A lease that stipulates a base Percentage Lease

monthly rental plus a
percentage of any gross sales
exceeding a certain amount
The number of years of useful Economic Life

life left to a building from the
date of appraisal
The current construction cost Replacement Cost

of a building having exactly the
same utility as the subject
property
Reviewer
The current construction cost Cost Reproduction New
of an exact duplicate of the
subject building
Ownership interest of a Sandwich Lease

sublease
A method of valuing land to be subdivision development method land

used for subdivision development method
development. It relies on
accurate forecasting of market
demand including both
forecast absorption and
projected gross sales
The rate at which properties Forecast Absorption

will sell
Total income that the project Projected Gross Sales

will produce
The basic appraisal premise Principle of Substitution

that the market value of real
estate is influenced by the cost
of acquiring a suitable or
comparable property
A principle that the value of a Principle of supply and demand

commodity will rise as demand
increases and/or supply
decreases
Reviewer
An improvement that is less Underimprovement
than a property's highest and
best use
The value of goods and Value in Exchange

services in exchange for other
other goods and services or
money in the marketplace an
economic concept of market
value
The average selling price of B) An Appraisal

homes in a district can be best
ascertained by: A) assessed
value B) an appraisal C)
comparative analysis D) none
of the above
Your client asked you to make ₱9

a simple appraisal of his lot in
Baguio. Based on the technical
description and inspection of
the property you found out the
following: Land area: 3200 sqm
Unobstructed view (plus): 15%
Plottage value (plus): 6% Topog
The price of any commodity in B) Market Price

its market at a specified time is
called: A) actual price B)
market price C) Nobel price D)
par value E) none of the above
Reviewer
_ is a kind of listing that can be Open Listing
given to more than 1 brokers.
Open listing is a kind of listing 1

that can be given to more than
_ brokers.
A _ is an agreement between Listing

an owner and a broker to sell a
real estate property.
A real estate broker receives a Commission

_ while a real estate dealer
earns profit from his
investments.
A real estate broker receives a Profit

commission while a real estate
dealer earns _ from his
investments.
Option is a contract between a Seller

_ and a buyer.
Option is a contract between a Buyer

seller and a _ .
Reviewer
The _ is a provision in the listing Hold Over Clause
agreement which entitles a
broker to a commission even
when he closes the sale after
the period of authority
provided that the buyer with
whom he has negotiated was
registered by him with the
seller and during the p
In authority given by a the contract is _ .

developer to a broker to find a
supplier for cement and
aggregates materials wherein
payment shall be in the form of
units or developed
_ is an agreement by which the Exclusive Right to Sell / Exclusive Authority to Sell

listing broker is entitled to his
broker's fee even if the
principal/seller sold the
property himself.
A lot owner and developer Condominium Project

may convert a property into a_
by executing a legal document
called Master Deed and
registering the same with the
Registry of Deeds.
Reviewer
A lot owner and developer Master Deed
may convert a property into a
condominium project by
executing a legal document
called _ and registering the
same with the Registry of
Deeds.
A lot owner and developer Registry of Deeds

may convert a property into a
condominium project by
executing a legal document
called Master Deed and
registering the same with the _ .
Unless the condominium the life a condominium corporation is _ .

corporation is earlier dissolved
The document which provides Declaration of Restrictions

guidelines rules and
regulations regarding the rights
of condominium unit owners in
the use occuptation ownership
and disposition of units is
called _
The required number of votes Simple Majority

of registered owners to
authorize a condominium
corporation to sell or
otherwise dispose of the
common areas in a
condominium project is _ .
Reviewer
Amendment to the Master A) number of condominium units
Deed of a condominium
project must be approved by
the majority of registered unit
owners. Majority is based on:
A) number of condominium
units B) floor area of ownership
C) total area of condominium
units D) any of the abov
A petition may be filed by one One-half or More

or more unit owners of
condominium project when
damage has rendered _ of the
units untenantable and unit
owners holding more than 30%
interest in the common areas
are opposed to repair or
restoration of the project.
A petition may be filed by one More than 30%

or more unit owners of
condominium project when
damage has rendered one-half
or more of the units
untenantable and unit owners
holding _ interest in the
common areas are opposed to
repair or restoration of the
project.
Reviewer
When the interest of B) unit area divided by the total area of all
participation of condominium condominium units
unit owners in the common
area is proportionate the
formula applied is: A) unit area
divided by the total area of the
common area B) unit area
divided by the total area of all
condominium units C) un
In the absence of any provision C) equal to all other unit owners

in the Master Deed of a
condominium project the share
of the unit owners in the
common area is: A)
proportionate to his unit area
B) based on the value of his
unit C) equal to all other unit
owners D) decided by the
In mixed use condominium B) floor area of ownership

projects the Master Deed may
be amended by a simple
majority of the unit owners.
Majority is based on: A)
number of condominium units
B) floor area of ownership C)
total area of condominium
units D) any of the above E) n
Reviewer
Amendment to the Master City/Municipal Engineer
project approved by the
majority of registered owners
need also be approved by the
_ and HLURB.
Amendment to the Master HLURB

project approved by the
majority of registered owners
need also be approved by the
city/municipal engineer and _ .
Traditional ownership is Torrens title TCT or OCT

evidenced by
For a space to be considered a C) be susceptible of independent use and

condominium unit it must: A) be ownership
encompassed by the interior
surface of the wall floor ceiling
B) be managed by a
condominium corporation C)
be susceptible of independent
use and ownership D) be
unencumbered by any r
Per BIR 28-98 the ground floor Commercial

of a condominium project shall
be considered as_ and an
additional rate of 20% shall be
added to an established
residential zonal value.
Reviewer
Per BIR 28-98 the ground floor 20%
of a condominium projecct
shall be considered as
commercial and an additional
rate of_ shall be added to an
established residential zonal
value.
All real properties regardless Commercial

of actual use located in a
street/barangay/zone the use
of which are predominantly
commercial shall be
considered as _ for purposes of
zonal valuation.
A_ is sometimes referred to as Condominium

vertical subdivision
A condominium is sometimes Vertical Subdivision

referred to as_
Which of the following cannot A) subdivision lots

be given Condominium
Certificate of Title? A)
subdivision lots B) industrial
warehouse C) condominium
corporation D) one level
rowhouse E) none of the above
RA 4726 Condominium Act June 18 1966
Condominium Act June 18 1966 RA 4726
Reviewer
Condominium developers are C) Condominium Corporation
mandated to form a: A)
cooperative B) charitable
organization C) condominium
corporation D) one level
rowhouse E) none of the above
Enumerated are the

advantages of
condominium concept
which does not belong:
A) cooperative B) with
CCT as proof of
ownership C) enhances
affordability D)
economy in land space
E) social club B) with
CCT as proof of
ownership it's not an
advant
Condominium title is also CCT Condominium Certificate of Title

called
For the purpose of _ a Ingress and Egress

condominium unit owner has
non-exclusive easement to the
common area.
For the purpose of ingress and Non-Exclusive Easement

egress a condominium unit
owner has _ to the common
area.
Reviewer
For the purpose of ingress and a condominium unit owner has non-exclusive
egress easement to the_ .
_ of the units of a condominium 40%

project may be sold to
foreigners.
40% of the units of a Foreigners

condominium project may be
sold to_ .
The organization of a_ is always Condominium Corporation

mandatory in a condominium
project.
The organization of a Condominium Project

condominium corporation is
always mandatory in a_ .
A_ is a part of a condominium Unit

project intended for any type
of independent use or
ownership.
A unit is a part of a Independent use or ownership

condominium project intended
for any type of_ .
Whenever the_ in a Common Areas

condominium project are held
by a condominium corporation
such corporation shall
constitute the management
body of the project.
Reviewer
Whenever the common areas Management Body
in a condominium project are
held by a condominium
corporation such corporation
shall constitute the_ of the
project.
Statements defining the Declaration of Restrictions

limitation of ownership of a
condominium unit which binds
all unit owners are called the_
and are registered with the
Registry of Deeds.
Statements defining the Registry of Deeds

limitation of ownership of a
condominium unit which binds
all unit owners are called the
Declaration of Restrictions and
are registered with the_ .
A right given for a Option

consideration to purchase or
lease a property upon a
specified time
A notice of adverse claim 30 days

annotated on the title can be
cancelled after the expiration
of _ after its annotation by a
verified petition with the
Registry of Deeds.
Reviewer
A court action to remove Quieting of Title
clouds on the title
The best evidence of Torrens Title

land/property ownership under
the Philippine system of
registration
A condensed history of title Abstract of Title

showing the various links in the
chain of title including liens
encumbrances and other
conditions affecting the title
An annotation on the title Attachment

which serves as a notice that
the property is being held in
reserve for whatever
judgement may be rendered
against the owners
When the owner's duplicate Petition for the Issuance of Owner's Duplicate
certificate of title is lost the Certificate of Title
registered owner shall file a _
to be issued a new owner's
copy
The legal form to be made by Deed of Conveyance

the landowner in order to
transfer the titles of the land
and common areas in favor of
the Condominium Corporation
Reviewer
_ is an annotation on the back Rule 74 of the Rules of Court creditors heirs two (2)
of a title that means that the years
property owned by the
deceased is subject to the
rights of _ or _ or any persons
who have been unduly
deprived of their lawful
participation in the estate with
a period of _ after the
settlemen
Under RA 6732 the _ of lost or Administrative Reconstitution at least 10% not less
destroyed original certificates than 500
of titles in the Registry of
Deeds may be availed when
the number of certificates lost
or destroyed is _ of all titles in
the Registry but _ titles.
The best evidence of fee Torrens Title

simple is a _ because it is
indefeasible and
imprescriptible.
The best evidence of fee Indefeasible

simple is a Torrens Title
because it is_ and
imprescriptible.
The best evidence of fee Imprescriptible

simple is a Torrens Title
because it is indefeasible and_ .
Reviewer
An adverse claim lapses after _ 30 days not allowed
from annotation in the
certificate of land title. A
second claim is _.
A claim of a person on a Adverse Claim

property of another
A hold or claim which one Lien

person has upon a property of
another as security for a debt
charge judgement or
mortgages
An annotation in the title that Lis Pendens

serves as notice that the
property is subject to a
pending litigation
A lien created by law which Mechanic's Lien

exists in favor of persons who
have performed or furnished
materials in the erection or
repair of a building
Anything which affects or limits Encumbrance

the fee simple title to property
such as mortgages easements
or restrictions of any kind
Reviewer
Refers to money Lien
encumbrances that make the
property security for the
payment of a debt or
obligations such as mortgages
and taxes
title defect Cloud on Title
cloud on title Title Defect
Any condition revealed by a Cloud on title title defect

title search which affect title to
property usually relatively
unimportant items but which
cannot be removed without a
quit claim deed or court action
Largest estate of ownership in Fee Simple Absolute Ownership

real property in which the
owner holds all rights not
reserved by society
Fee Simple Absolute Ownership
Absolute Ownership Fee Simple
A writ that authorizes and Writ of Execution

directs the proper officer of
the court usually the sheriff to
carry into effect a judgement
or decree of the court
Reviewer
The following liens can be e) Statutory liens It is "already understood" to be
found at the back of a title there as it is "statutory"
except: a) Real estate tax liens
b) Judgement liens c)
Mechanic's liens d) Mortgage
liens e) Statutory liens
Registration of a real estate d) All of the above

instrument can be given due
instru
course without the
presentation of the owner's
duplicate certificate of title
when the document is: a)
Notice of adverse claim b)
Notice of lis pendens c) Writ of
attachment d) All of the a
The following are public c) public plaza converted into a housing project
dominion except: a) navigable
river converted into fishpond
b) canal c) public plaza
converted into a housing
project d) subdivision roads e)
natural resources
Under PD 892 which titles can Spanish titles

no longer be a source of right
or ownership?
Must be paid before Taxes

transacting with the Registry of
Deeds
RA 496 Land Registration Act February 1 1903
Reviewer
PD 1529 Property Registration Decree June 11 1978
The _ heads the office of the Registrar of Deeds

Registry of Deeds
The Registrar of Deeds heads Registry of Deeds

the office of the _
Under PD 1529 each _ and _ is Province City

required to have a Registry of
Deeds.
An _ Certificate of Title is issued Original

by the Regional Trial Court
An Original Certificate of Title Regional Trial Court

is issued by the _
The _ is required when Authority of the Court

disposing assets of minors.
_ is done in the office of the Land Registration

Registry of Deeds of the city or
province where the property is
located.
Land Registration is done in the Registry of Deeds

office of the _ of the city or
province where the property is
located.
Reviewer
The first registration of the land Original Registration
whereby an Original Certificate
of Title is entered in the
Registry of Property and a
duplicate owner's copy is
issued to the owner by the
Registry of Deeds
The registration of the land Judicial Registration

through the courts
Have exclusive jurisdiction over Regional Trial Courts

all applications for original
registration of title to lands
including improvements and
interests therein
RTC Regional Trial Court
Court of First Instance Regional Trial Court
Land registration is governed RA 496 Land Registration Act February 1 1903 PD

by _ titled _with effectivity date 1529 Property Registration Decree June 11 1978
of _. It was replaced by _ titled _
with effectivity date of _ which
amended and codified the
laws related to registration of
property.
A _ Certificate of Title is issued Transfer

by the Registry of Deeds
An Transfer Certificate of Title Registry of Deeds

is issued by the _
Reviewer
The registration of land Voluntary Registration
instituted by the applicant
under the provisions of RA 496
or PD 1529
The registration effected at the Compulsory Registration

instance of the State under
provision of the RA 2259 with
pertinent provisions of RA 496
and PD 1529
A written authorization or Locational Clearance

permit to develop or use or
construct in certain areas or
any parcel of land based on
approved plan use or zoning
ordinance in the absence of a
zoning ordinance the grant of
permit shall be based on
HLURB planning standards and
The acquisition of land in Land Banking

advance of actual need based
on present value for future
planned development is
referred to under Urban Land
Reform Law as _
Reviewer
The act of authorizing the Conversion
change of the current use of a
piece of agricultural land into
non-agricultural use such
permit is proper only upon
issuance of a clearance from
the Department of Agrarian
Reform
Refers to land devoted to Agricultural Land

agriculture as defined in RA
6657 and owned by natural or
juridical persons or by the
government in its private
capacity
Determines if a particular land Department of Agrarian Reform DAR

ceases to be economically
sound for agricultural purpose
Under the PD 1517 known as at least 1 000 persons per square kilometer
Urban Land Reform Law an
area is considered urban when
it has a population density of _
and where 50% of
economically active residents
are engaged in non-
agricultural activites.
Reviewer
Under the PD 1517 known as 50%
it has a population density of at
least 1 000 persons per square
kilometer and where_ of
are engaged in non-
agricultural activites.
Under the PD 1517 known as Non-Agricultural

it has a population density of at
least 1 000 persons per square
kilometer and where 50% of
are engaged in _ activites.
PD 1517 Urban Land Reform Decree June 11 1978
Division of community into Zoning

function zones based on
present and potential use of
properties to regulate use and
growth of properties per
comprehensive plan
Municipal or country regulation Zoning Ordinance

of land use within designated
districts or zones
Reviewer
It is an application of the the Zoning Ordinance
state's police power to regulate
private activity by enacting
laws that benefit the public
health safety and general
welfare. It may affect use of
land lot sizes type of structure
permitted building heights
setbacks and d
Regulation of the character Zoning

and use of property by a
municipality or other
government entity through the
exercise of its police power
A once-lawful property use Non-conforming structure or use

that is permitted to continue
after a zoning ordinance
prohibiting it has been
established for the area a use
that differs sharply from the
prevailing uses in a
neighborhood.
_ provided protection for PD 1517

legitimate tenants and requires
clearance for development
proposals and land
transactions in proclaimed
areas in Urban Land Reform
Zones and Bagong Lipunan
sites
Reviewer
PD 1517 provided protection Urban Land Reform Zones
for legitimate tenants and
requires clearance for
development proposals and
land transactions in proclaimed
areas in_ and Bagong Lipunan
sites
PD 1517 provided protection Areas for priority development

for legitimate tenants and
requires clearance for
development proposals and
land transactions in proclaimed
areas in Urban Land Reform
Zones and_
A center in d primate region of Socialized Housing One-Stop Processing Center

d cntry dt operates in SHOPC
accordance w/RA 7279
odrwise known as d Urban
Development n Housing Act of
1992 n Exec Order no. 184
covering its implementing rules
n regulations 4 dsoperational
function
A public document adopted by Town Plan

the LGU as a guide to the
physical and socio-economic
development of their
community
Reviewer
Projects that have high Environmentally-Critical Project ECP
potential for significant
negative environmental impact
and is listed under PD 2146 and
Proclamation No 803 s. 1996 as
well as other projects which
the president may proclaim as
environmentally critical in
accordance with the of
A detailed guide on the EIS Procedure Manual

procedure to be observed by
the parties concerned in the
Environmental Impact
Statement System. It shall
include among others
guidelines on public
participation and social
acceptability the EIS/IEE
review criteria in accordance
wit
A certificate issued by the EMB Certificate of Non-Coverage

certifying that based on the
submitted project description
the project is not covered by
the EIS System and is not
required to secure an ECC
Document allowing proponent Environmental Compliance Certificate ECC

to undertake a particular
critical project in a critical area
with various conditions
Reviewer
Refers to projects declared Environmentally Critical Project ECP
through Proclamation No 2146
and Proclamation No 803
which may pose significant
negative environmental impact
at certain thresholds of
operation regardless of
location
An area listed under PP 2146 Environmentally Critical Area ECA
A proposal for the future use of Land Use Plan

land based on sound planning
principles and form part of the
official document known as the
Comprehensive Development
Plan or a proposal which forms
part of the comprehensive
development plan
The entire process of Environmental Impact Statement System EIS System

organizations administration
and procedures
institutionalized for purposes
of assessing the significance of
the effects of any project or
undertaking on the quality of
the physical biological and
socio-economic environment
and design
Reviewer
Refers to the fund that Environmental Monitoring Fund EMF
proponents required or opting
to submit an EIS shall commit
to establish when an ECC is
issued by the DENR for its
project or undertaking to be
used to support the activities
of the multipartite monitoring
team
The use of scientific methods Environmental Risk Assessment ERA

and information to define the
probability and magnitude of
potentially adverse effects
which can result from exposure
to hazardous materials or
situations
A multi-sector team covered Multipartite Monitoring Team MMT

for the primary purpose of
monitoring compliance by the
proponent with the ECC the
EMP and applicable laws rules
and regulations
The proponent's technical staff Preparer

or a competent professional
group commissioned by the
proponent to prepare the
EIS/IEE and other related
documents
Any natural or juridical person Proponent

intending to implement a
project or undertaking
Reviewer
A layer in the stratosphere Ozone Layer
level of 10km to 50km high that
protects the Earth from deadly
rays of the sun
A city or municipality through Sanggunian

an ordinance passed by the_
after conducting public
hearings may reclassify lands.
A city or municipality through Conducting Public Hearings

an ordinance passed by the
Sanggunian after_ may
reclassify lands.
A city or municipality through Reclassify

an ordinance passed by the
Sanggunian after conducting
public hearings may_ lands.
Government agencies DENR HLURB LGU

mandated to regulate
environment
A general area declared Environmentally Critical Area ECA

through Proclamation 2146 as
environmentally sensitive such
that significant environmental
impacts are expected if certain
types / thresholds of proposed
project are located developed
or implemented in it
Reviewer
Which is not an B) Football field
environmentally critical
project? A) Heavy & Resource
extractive industries B)
Football field C) Infrastructure
projects D) Golf course
It is the translation of a land Zoning Ordinance ZO

use plan into legally-
enforceable documents
complete with penal provision
and adopted by the
Sangguniang
Bayan/Panglunsod
A proposal which forms part of Land Use Plan

comprehensive development
plan
A translation of the land use Zoning Ordinance

plan with penal provision
Principle of ownership which Stewardship Principle

mandates property owners to
use their property in a manner
that will promote not only their
interest but also the general
welfare
Hidden treasures belong to the Finder in good faith 50:50

_ and to the owner of the land
building or other property in
which it is found on a _ sharing
ratio.
Reviewer
The State is exercising its _ Power of Eminent domain just compensation
when it expropriates land for
public use upon payment of _.
Filling of submerged land by Reclamation

deliberate act of a government
Money paid by the State when Just compensation

a public agency takes private
property and converts it for
public use
Increase or addition of land by Accretion

the deposit of sand and soil
washed up naturally from a
river lake or sea
An owner whose land abuts a Riparian Owner

river
_ of the State is that which it Patrimonial Property

own in its private capacity
Patrimonial property of the Private Capacity

State is that which it own in its _
Rights in fee simple Bundle of Rights
Alienable and disposable land Agricultural land

in the public domain
Reviewer
A kind of possession that is Adverse Possession
actual continuously adversarial
visible and required as an
element of prescription
An encumbrance imposed Easement Servitude

upon an immovable for the
benefit of another immovable
belonging to another
A former natural born Filipino 5 000 sqm

can acquire not more than _ in
the urban area for business
purposes under RA 8179.
A former natural born Filipino Urban Area

can acquire not more than 5
000 sqm in the _ for business
purposes under RA 8179.
A formal natural born Filipino RA 8179

can acquire not more than 5
000 sqm in the urban area for
business purposes under _ .
_ is proof of ownership while Torrens Title

possession is the exercise of
the attribute of ownership.
Torrens Title is _ while Proof of Ownership

possession is the exercise of
the attribute of ownership.
Reviewer
Torrens Title is proof of Possession
ownership while _ is the
exercise of the attribute of
ownership.
Torrens Title is proof of Exercise of the Attribute of Ownership

ownership while possession is
the _ .
A foreigner who is married to a Registered in the name of the Filipino spouse with
Filipino spouse must execute the Registry of Deeds
an affidavit of waiver so that
the title to the property bought
by the Filipina may be _.
"Right of way" is a kind of Easement and Servitude
Generally only Filipino citizens D) purchase of residential house and lot

and corporation with at least
60% capital of which is owned
by Filipinos are entitled to
acquire and own land in the
Philippines. However aliens can
still acquire real estate in the
Philippines in the following
cases excep
Lands escheated by the Patrimonial Property

government is considered as
bundle of rights theory Rights in Fee Simple
Reviewer
A former natural born Filipino 3 hectares for rural land 5000 sqm for urban land
may in addition to acquiring
residential land under BP 185
still acquire land for business
or other purposes under RA
8179 provided the area does
not exceed
The breaking of law or failure Breach

of duty either by omission or
commission
The rights of ownership Right of Accession

whereby the owner has the
right to enjoy dispose exclude
others and to recover
Latin "Let the buyer beware" Caveat Emptor
The buyer is duty-bound to Caveat Emptor let the buyer beware

examine the property he is
purchasing and he assumes
conditions which are readily
ascertainable on the face of
the title.
Delay or negligence in Latches

asserting one's legal right
The right of government to Right of Eminent Domain

acquire property for necessary
public or quasi-public use
Reviewer
Reversion of property to the Escheat
state owing to lack of any heirs
capable of inheriting or due to
other causes provided by law
The taking of property for Expropriation

public use with fair
compensation to the owner
The right of the state to enact Police Power

laws and enforce them for the
order safety health morals and
general welfare of the public
A deed of release or
renunciation of a legal
right Quitclaim
Something that is part of Appurtenance

something else that is
transferred with the property
when sold alienated such as a
barn dwelling garage or
orchard
The _ follows the principal. Accessory
The accessory follows the _ . Principal
The exercise of police power Zoning

by the municipality or city in
regulating and controlling the
character and use of property
Reviewer
The automatic conveyance of Escheat
real property to the State upon
the owner's death due to the
absence of will heirs or failure
to pay taxes
The accretion in which lands Alluvion

adjoining the banks of rivers
creeks torrents or lakes
gradually received from the
effects of the current of the
water
Removal of land from one Avulsion

owner to another when a
stream suddenly changes its
channel
Addition to the land through Accretion

natural causes usually by
change in water flow
Only Filipino citizens or At least 60%

corporations with _ of capital
owned by a Filipino citizen can
acquire land in the Philippines.
How much agricultural lands of Not more than 12 hectares

the public domain can a
Filipino citizen acquire under
free patent?
In Philippine Law the Immovable Property

equivalent of real estate is
Reviewer
_ is the law that allows former BP 185
natural born Filipinos to
acquire residential lands in the
Philippines under certain
conditions.
BP 185 is the law that allows Residential

former natural born Filipinos to
acquire _ lands in the
Philippines under certain
conditions.
_ allows former natural born RA 8179

Filipinos to acquire lands for
business purpose under certain
conditions.
RA 8179 allows former natural Business Purpose

born Filipinos to acquire lands
for _ under certain conditions.
Under BP 185 the maximum Rural Land

area of residential land that can
be acquired by former natural
born Filipinos1000 sqm urban
land 10000 sqm
Under RA 8179 the maximum 5000 sqm for urban land 3 ha for rural land
area of land for business
purpose that can be owned by
former natural born Filipinos
Reviewer
The acquisition of land by Inheritance
virtue of heriditary succession
as an heir
The right to acquire the interest Right of Survivorship

of a deceased joint owner
The priority of a tenant to buy Tenant's right of first refusal

the land located in an urban
land reform area
Refers to the different Public Grant

administrative methods of
acquiring public lands such as
homestead or free patent
Execution by the owner of the Private Grant

appropriate document
transferring ownership to
another
The process by which land is Involuntary Grant

taken against the consent of
the owner as in expropriation
proceeding execution of
judgements tax sales and
foreclosure of mortgage
A stipulation in a contract Pactum Commissorium

which authorizes the
mortgagee to appropriate the
property as his own upon
failure of the debtor to fulfill his
obligation
Reviewer
A process wherein a property Foreclosure
used as a collateral for a loan is
sold to pay the loan in case of
default on the part of the
borrower
A stipulation which prohibits Pactum de non Aliendo

the mortgagor from alienating
the property within the period
of the mortgage
An instrument wherein Mortgage

property is pledged as a debt
security creating a lien on the
property
A kind of mortgage that can be Open Mortgage

paid even before maturity
In case of doubt a contract Pacto De Retro Sale

purporting to be _ shall be
construed as equitable
mortgage
In case of doubt a contract Equitable Mortgage

purporting to be pacto de
retro sale shall be construed as
_
_ is where the lessee transfers Assignment

his interest to another person
Reviewer
There is _ when the lessee Sublease
leases a portion of the
property leased
In PD 471 the maximum period 25 years 25 years

of lease of real estate that may
be agreed upon the lessor and
a foreign lessee who is not a
foreign investor is _ renewable
for another _.
In RA 7652 the maximum 50 years 25 years

period of lease of real estate
that may be agreed upon the
lessor and a foreign lessee
who is a foreign investor and
the leased property is used
solely for investment purposes
is _ renewable for another _.
If the lease period is_ then it More than 1 year

must be made in writing.
If the lease period is more than In writing

1 year then it must be made _ .
RA 7652 Investor Lease Act
Investor Lease Act RA 7652
A contract between an owner Lease Contract

and a tenant on a thing with
conditions of use
Reviewer
Amount paid by the lessee of a Rent
house a flat or business
building
Under the Rent Control Law 2 months

the lessor may ask for a deposit
rental not exceeding
The clause in a mortgage that Defeasance Clause

gives the mortgagor the right
to redeem his property upon
the payment of his obligations
to cover the principal
obligation
If at the end of the period of Tacita Reconduccion

lease the lessee continues to
enjoy the thing leased with the
acquiescence of the lessor it is
understood that there is a new
lease
Tacita Reconduccion Implied new lease
Implied new lease Tacita Reconduccion
A provision in a financing Acceleration CSSlause

agreement which renders the
remaining principal balance of
the loan immediately due and
payable upon default in any
stipulated installment
Reviewer
A mortgage that covers two or Blanket Mortgage
more properties
Under RA 8791 the maximum 3 months

redemption period after
extrajudicial foreclosure of a
mortgage executed by a
corporation in favor of a bank
In a sale a retro where it is 4 years

stipulated that the vendor has
the right to repurchase the
property when he has the
means he has _ to redeem it.
A lease of property in which Percentage Lease

the rent is computed as a
certain percentage of the
amount of sales made within
the property
A contract of sale with the Pacto De Retro Buy Back Agreement Repurchase
stipulation that the vendor shall Agreement
have the right to buy back the
property within the agreed
period
A mortgage containing a Open End Mortgage

clause which permits the
mortgagor to borrow
additional money after the loan
has been reduced without re-
writing the mortgage
Reviewer
Failure to fulfill a duty or Default
promise to discharge an
obligation an omission or
failure to perform any act
Loss of money or anything of Forfeiture

value due to failure to perform
such as under an agreement to
purchase
An action to foreclose a real 10 years

estate mortgage prescribes in _
To hypothecate a property Contract of Antichresis

with transfer of possession
Payment of the debt or Payment in kind Dacion en Pago

obligation with a property
In case of the sale of a house 4 years 10 years 30 days

and lot with the right to
repurchase the period of
redemption shall be _ from the
date of contract in the absence
of any agreement. Should there
be an agreement the period
cannot exceed _. However the
vendor may still exerci
Reviewer
Property foreclosed judicially bank 1 year registration
can no longer be redeemed by
the owner after the auction
sale has been confirmed by
the court except when the
mortgagee is a _ where
redemption may still be made
within _ from the _ of the
auction sale.
A contract wherein the Antichresis

mortgagee receives the fruit of
the property with the
obligation to apply them in
payment of the interest and
principal
When a property is subject to D) the owner or immediate family member will use
Rent Control Law the lessor the premises for business
can eject the lessee when
there is need of the owner or
his immediate family member
to use the premises for
residence on the following
conditions except: A) lease has
expired B) three (3) month
A judgment for the mortgagor Deficiency judgement

to pay the balance of an
obligation if the proceeds of
the foreclosure sale is not
sufficient to cover the principal
obligation
Reviewer
In an extra-judicial foreclosure 5 years
of mortgage of real estate
acquired through homestead
the redemption period is _
Maximum period for the right 1 year

of redemption in an
extrajudicial foreclosure of
mortgage
Maximum period for equity of 90 days

redemption in a judicial
foreclosure of mortgage
X owner of a 10-door B) assign his rights

apartment rented a unit to Y for
a period of one year. Under
the law on lease Y without the
consent of X may perform any
of the following acts except: A)
sublease the unit B) assign his
rights C) suspend payment if X
fails to ma
Extrajudicial foreclosure is Rule 68 of the Rules of Court

undertaken in accordance with
the provisions of _
The conveyance of real estate Dacion en Pago

in payment of an obligation
Reviewer
A mortgage in which the Close End Mortgage
collateral is not allowed to be
used as security for another
loan
Where the final installment Balloon Payment

payment on a note is greater
than the preceding installment
payments and the payer pays
the note in full
Payment in lump sum although Accelerated Payment

not yet due
A contract of lease shall be Recorded in the Registry of Property

binding even on third parties if
the contract of lease is _
A house and lot with swimming Depends on agreement of the parties

pool was rented by an
expatriate in Dasmariñas Vilage
Makati City for the monthly
rental of ₱150000 per month.
Up to how many months
advance rental may the owner
impose of the tenant?
Reviewer
In case of refusal by the lessor D) any of the above
to accept payment of the
rental agreed upon the lesee
may either deposit by way of
consignation the amount in: A)
court B) city/municipal
treasurer C) bank in the name
of and with notice to the lessor
D) any of the
RA 9653 Rent Control Act July 29 2009
According to RA 9653 the 7%

maximum annual increase in
rent for residential units cannot
exceed _.
According to the _ contracts Statute of Frauds

must be in writing to be
enforceable
According to the Statute of In writing

Frauds contracts must be _ to
be enforceable
According to the Statute of Enforceable

Frauds contracts must be in
writing to be_
Delay or negligence in Latches

asserting one's legal right
Reviewer
A deed used to convey real NB: In a warranty deed the grantor agrees to
property which warranties of defend the premises against the lawful claims of
title and quiet possessions third persons.
warranty deed
An action instituted by the Action for Rescission

vendee against the vendor to
void a sale on account of some
vice or defect in the thing sold
which renders it unfit for the
use intended or which will
diminish its fitness for such use
to such an extent that had the
vendee awar
A contract granting a person Option Contract

the privilege to buy or not to
buy certain objects at anytime
within the agreed period at a
fixed price
A clause that begins with "to Habendum Clause

have and to hold" which
defines or limits the quantity of
the estate granted in the
premise of the deed
When a property is sold to two Buyer in good faith who first registers with the
or more buyers the property Register of Deeds
goes to the _
Reviewer
When a property is sold to two Buyer in good faith who is in possession
or more buyers and have not
registered the sale with the RD
the property goes to
An agreement where the Escrow

consideration of a contract or a
portion thereof is entrusted to
a third party known who is
authorized to release payment
after fulfillment of some
condition
The voluntary transfer of real Private Grant

estate
A contract which is merely an Contract To Sell

executory contract or a mere
promise to sell with no transfer
of ownership
A _ is to Deed of Absolute Sale; Contract of Sale

A Contract to Sell is to Deed of
Conditional Sale
A Contract of Sale is to _ A Deed of Absolute Sale

Contract to Sell is to Deed of
Conditional Sale
A Contract of Sale is to Deed Contract to Sell

of Absolute Sale; A _ is to Deed
of Conditional Sale
Reviewer
A Contract of Sale is to Deed Deed of Conditional Sale
of Absolute Sale; A Contract to
Sell is to _
The portion of a deed of Habendum Clause

conveyance transferring
specific interest in the property
A document which transfers Deed of Absolute Sale

conveys and assigns a real
estate property from the
owner to the buyer
_ is where the sale Contract to Sell

contemplates a contigency i.e.
subject to certain conditions
usually the payment of the
purchase price
_ is not subject to any condition Deed of Sale

and the title passes to the
buyer upon delivery of the
thing sold.
Things having a potential Contract of Sale

existence may be the object of
a_
Essential requirements of a 1. consent or meeting of minds of buyer and seller 2.

Contract of Sale object or subject matter 3. cause or consideration
Reviewer
In a legal contract/instrument D) Board resolution
between individuals as parties
the instrument must contain the
following except: A) Full names
and addresses B) Civil status
and citizenship C) Capacity
and personality in the contract
D) Board resolution
A contract wherein ownership Contract to Sell

is reserved in the vendor and is
not passed until full payment
of the price
In a Contract to Sell by a C) Financial statement of the corporation standard

corporation the instrument form contract take-it-or-leave-it contract Contract
must include the following of Adhesion
except: A) the firm has legal
right to own land in the
Philippines in case ownership is
to be transferred B) Contract is
duly authorized by proper
Board Resolutions of th
A contract drafted by one Contract of Adhesion Adhesion Contract

party and signed by the
weaker party
No _ may be admitted to take Foreigner

the board exam nor be given
certificate to operate in the
Philippines unless there is
foreign reciprocity.
Reviewer
No foreigner may be admitted Foreign Reciprocity
to take the board exam nor be
given certificate to operate in
the Philippines unless there is_ .
In order that a candidate may 75% 50%

be deemed to have passed the
examination s/he must have
obtained _ in all subjects with
no rating below _.
Attendance in Real Estate Provider

Seminar and Review with
certification provided by an
accredited _ by PRC is
prerequisite in taking the Real
Estate Broker's Exam.
The professional identification 3 years

card from PRC shall be
renewed every _.
A _ is a duly accredited natural Real Estate Salesperson

person by PRC who performs
real estate service in behalf of
a registered and licensed real
estate broker.
A real estate salesperson is a Real Estate Service

duly accredited natural person
by PRC who performs _ in
behalf of a registered and
licensed real estate broker.
Reviewer
A real estate salesperson is a Registered and licensed real estate broker
duly accredited natural person
by PRC who performs real
estate service in behalf of a _ .
_ is the accredited and AIPO

integrated professional
organization by PRC.
Cash surety bond of real estate 3 years

is renewable every_ .
Cash surety bond of real estate ₱ 20000

is_
Under §32 on corporate Accredited Real Estate Service Practitioners

practice of the real estate
service developers shall
regularly submit to the
commission and to the SEC a
list of_ .
Per §30 of IRR RESA all Registered and Licensed Real Estate Service
positions in government Practitioners
requiring the services of
registered and licensed real
estate service practioners shall
be filled only by_ within 3 years
from effectivity.
Reviewer
Per §30 of IRR RESA all 3 years
positions in government
requiring the services of
registered and licensed real
estate service practioners shall
be filled only by registered and
licensed real estate service
practitioners within_ from
effectivity.
Per §31 of IRR RESA the Board 2 years

shall accredit real estate
salespersons with at least_ in
college with at least 2 units in
CEP training. No examination
shall be given.
Per §31 of IRR RESA the Board at least 12 units

salespersons with at least 2
years in college with_ in CEP
training. No examination shall
be given.
Per §31 of IRR RESA the Board No

salespersons with at least 12
years in college with at least 2
units in CEP training._
examination shall be given.
Reviewer
Per §32 of IRR RESA Board 3 years
may accredit real estate sales
person until July 30 2011 if they
are registered with DTI and in
the active practice for at least_
as may be certified by a
licensed broker or real estate
developer prior to effectivity
of RA 9646
Per §32 of IRR RESA Board 120

the active practice for at least
3 years as may be certified by
a licensed broker or real estate
of R
Per §32 of IRR RESA Board Supervising Licensed Broker

the active practice for at least
3 years as may be certified by
a licensed broker or real estate
of R
Reviewer
No real estate salesperson Authorized Accreditation
either directly or indirectly can
negotiate mediate or transact
any real estate transaction for
and in behalf of a real estate
broker without first securing
an_ as real estate salesperson
for the real estate broker as
prescribe
No real estate salesperson Real Estate Broker

either directly or indirectly can
negotiate mediate or transact
any real estate transaction for
and in behalf of a real estate
broker without first securing an
authorized accreditation as
real estate salesperson for the_
as pre
A real estate broker shall be Accreditation

guilty of violating RA 9646 or
the IRR for utilizing the services
of a real estate salesperson
who has not secured the
required_ from the Board.
Reviewer
No violation of this provision Actual Knowledge
per §31 shall be caused for
revocation of broker's license
unless there was_ of such
violation or the broker retains
the benefits profits or
proceeds of a transaction
wrongfully negotiated by the
salesperson.
No partner or corporation shall Duly registered and Licensed

engage in the business of real
estate service unless it is duly
registered with the SEC and
persons authorized to act for
the partnership or corporation
are all_ real estate brokers
appraisers or consultants as
the case ma
Under § 32 the partnership or Real Estate Service Practitioners

corporation shall regularly
submit a list of_ to the
Commission and SEC as part of
its annual reportorial
requirements.
Under § 32 the partnership or Annual Reportorial

corporation shall regularly
submit a list of real estate
service practitioners to the
Commission and SEC as part of
its_ requirements.
Reviewer
There shall be at least 1 20
licensed real estate broker for
every_ accredited salespersons
per § 32.
Divisions or departments of Full-Time

partnership and corporations
engaged in marketing or
selling any real estate
development project in the
regular course of business
must be headed by_ registered
and licensed real estate broker
in accordance with § 32.
Branch offices shall be manned Duly Licensed

by_ real estate brokers
appraisers consultants as the
case may be.
In case of termination or 15 days

resignation from office of a real
estate practitioner the same
shall be reported by employer
to the Board within a period of_
from date of effectivity.
Reviewer
Subject to the provisions of the Independent
Labor Code a corporation or
partnership may hire the
services of registered and
licensed real estate brokers
appraisers consultants on
commission basis to perform
real estate service and the
latter shall be deemed_ contra
The_ of the official seal of the Rising Sun

PRBRES signifies the vital role
of the real estate service
practitioners in the social
political economical
development and progress of
the Philippines.
The_ of the official seal of the Gold

PRBRES signifies ethical
standards and prosperity.
_ is an Act regulating the RA 9646 or RESA Law July 29 2009

practice of Real Estate Service
in the Philippines or within the
Philippine jurisdiction.
RA 9646 RESA Law Real Estate Service Act July 29 2009
_ refers to the Professional The Board

Regulatory Board of Real
Estate Service
Reviewer
The Board refers to the_
Professional Regulatory Board of Real Estate
Service
Real Estate Service Real estate consultants appraisers brokers and

Practitioners shall refer to_ . salespersons
_ refers to a person who Appraiser

conducts valuation and
possesses the necessary
qualifications license ability
and experience.
_ refers to an official in the Assessor

local government unit who
performs appraisal and
assessment of real properties
including plants equipment
and essentially for taxation
purpose.
_ shall refer to real estate Real Estate Service Practitioners

consultants appraisers brokers
and salespersons.
_ refers to duly registered and Real estate broker

licensed natural person who
for a professional fee acts as an
agent for a real estate
transaction.
Reviewer
Real estate broker refers to Professional Fee
duly registered and licensed
natural person who for a_ acts
as an agent for a real estate
transaction.
Real estate broker refers to Agent

duly registered and licensed
natural person who for a
professional fee acts as an_ for
a real estate transaction.
_ is the natural and integrated AIPO

professional organization of
natural persons duly registered
and licensed as real estate
service practitioners. To be
recognized by the Board as the
only accredited organization of
real estate practitioners. It is
mandatory
The Board shall adopt and Commission

promulgate the Code of Ethics
and Responsibilities for real
estate practitioners which shall
be prescribed by the_ .
The Real Estate Practitioner 2 years

who fails to comply with the
necessary CPE requirements
within_ after effectivity of RA
9646 on or before July 30 2011
shall be required to take the
Board Exam.
Reviewer
The Real Estate Practitioner 2011 shall be required to take the Board Exam.
within 2 years after effectivity
of_ on or before July 30
The Real Estate Practitioner Board Exam

within 12 years after effectivity
of RA 9646 on or before July
30 2011 shall be required to
take the_ .
The duration of the 3 years

Professional Indemnity
Insurance of Real Estate Broker
is_ .
Per § 39 any violation of RA ₱ 10000

9646 including violations of the
IRR by a licensed accredited
person shall be meted the
penalty of fine of not less than_
and/or 4 years imprisonment.
Per § 39 any violation of RA 4 years

9646 including violations of the
IRR by a licensed accredited
person shall be meted the
penalty of fine of not less than
₱ 10000 and/or_ imprisonment.
Reviewer
The Board shall be assisted by Prosecutors
the Commission in carrying out
the provisions of RA 9646 &
IRR. The lawyers of the
Commission shall act as_
against illegal practitioners and
other violators.
RA 9646 or RESA Law has_ 45

sections.
IRR of RA 9646 refers to A) Implementing Requirements and Rules of RA

several words except: A) 9646
Implementing Requirements
and Rules of RA 9646 B)
Implementing Rules and
Regulations of RA 9646 C)
regulations D) IRR - Real Estate
Service Act of the Philippines
The Board shall create a_ CPE Council

composed of a chairperson
coming from the Board a
member from AIPO and a
member from the academe.
Not included in the following D) Engaging in the practice of profession during the
instances leading to revocation period of one's suspension
or suspension of Certificate of
Registration and the
Professional Identification Card
A) Procurement of certificate
of registration and/or
professional identification card
or special/temporary
Reviewer
Covergae of those who shall D) Passed the 2011 exam but failed to secure license
be registered by the Board prior to June 1 2011
without examination except: A)
Active practioners with 15 CEP
units during the effectivity of
the RA 9646 as of July 30 2009
with 24 CEP units earned from
2007 to July 30 2011 B) Passed
2006 DTI exa
Not included in the D) Building blue green violet

composition of the official seal
of the Professional Regulatory
Board of Real Estate Service
(PRBRES): A) Land structures
trees & Fruits green lines rising
sun B) Red white blue yellow
gold C) Blue green sun & rays
map of the Ph
Not true interpretation: A) Land D) Land - prime rice land red - alertness vigilance
- real estate structures -
improvement on land trees &
fruits - agricultural produce
green lines - real estate B) Red
white blue yellow - color of
the Philippine flag blue -
service green - environment &
ecology C) S
Zoning is an exercise of the _ Police

power of the State.
The Subdivision and Codominium Buyers' Protective

PD 957
Decree
Reviewer
The Subdivision and PD 957
Codominium Buyers' Protective
Decree
Document to be checked License to Sell

before buying a subdivision lot
Highest selling price for a ₱ 1250 000.00

house and lot package under
Economic Housing
Highest selling price for a ₱ 450000.00

house and lot package under
Socialized Housing
Time frame to develop one (1) 1 year

phase of a subdivision from
issuance of the License to Sell
§31 of PD 957 requires that the Witness license number expiry date
broker or salesman who
negotiated the sale of a
subdivision lo or condominium
unit shall act as a _ to the sales
document with an indication of
his _ and _.
The law providing for the EO # 90

comprehensive and integrated
shelter and Urban
Development Financing
Program
Reviewer
The body which formulates the HUDCC Housing and Urban Development
policies and objectives as well Coordinating Council
as the overall strategies for the
country's National Shelter
Program
Housing and Urban Development Coordinating

HUDCC
Council
A subdivision plan or a Complex Subdivision

registered land wherein a
street passageway or open
spaces is delineated on the
plan
In PD 957 a juridical person Sole Proprietorship

refers to a business firm. These
are corporation partnership
cooperative association
Under PD 957 _ is also included Sole Proprietorship

in the enumeration of juridical
persions.
The entire parcel of real Project

property divided or to be
divided into condominiums
including all structure thereon
One of a series of individual Rowhouse Townhouse

homes having architectural
unity and a common wall
between each unit
Reviewer
rowhouse Townhouse
townhouse Rowhouse
Refers to the limitation on the Deed Restrictions

use of the lot such as allowable
use building lot ratio
prohibition against subdivision
or more than one single
detached house etc.
Refers to the indentation along Chaplan

corner lot to provide better
visibility to pedestrian traffic
The Articles of Incorporation HLURB Housing and Land Use Regulatory Board
of the Homeowner's
Association is registered with
the _
The Articles of Incorporation SEC Securities and Exchange Commission

of the Condominum
Corporation is registered with
the _
Individual titles to the less than ten (10)

subdivision lots may be issued
by the Register of Deeds upon
approval of the Land
Management Bureau or Land
Registration Authority without
prior approval of the local
government and HLURB when
the resulting number of lots is
Reviewer
A subdivision project with a 1 hectare
gross area of less than _ is not
required to have open space
for a park
Subdivision projects approved Economic Subdivision Socialized Subdivision

under the BP 220 are classified
into two types
Current fair market value of the Project cost

raw land and its land
development cost
A document granting authority License to Sell

to any registered
owner/developer to sell lots or
units within an approved
subdivision or condominum
project and providing for the
duties and obligations of said
owner or developer
In a joint venture the stipulated Sharing of sales proceeds sharing of salable units or
percentage of sharing a combination of the above
between the landowner and
the developer is implemented
by:
Realty Installment Buyer Act RA 6552
RA 6552 Realty Installment Buyer Act
Maceda Law RA 6552 Realty Installment Buyer Act
Reviewer
RA 6552 Realty Installment Maceda Law
Buyer Act
Development of a memorial PD 957

park is covered by what law?
Agencies involved in the NHMFC HLURB HGC NHA HDMF

National Shelter Program
NHMFC National Home Mortgage Finance Corporation
HLURB Housing and Land Use Regulatory Board
HGC Home Guaranty Corporation
NHA National Housing Authority
HDMF Home Development Mutual Fund
Land development intended Farmlot Subdivision

primarily for intensive
agricultural activities and
secondarily for housing
Minimum lot area for farm lots 1000 m²
Minimum frontage of farm lots 20 m
Maximum buildable area for 25%

farm lots
Reviewer
Lots for industrial activities and Industrial lots
production
Purchase by a person of more Bulk buying

than one salable lot within an
approved subdivision for the
purpose of reselling them with
or without alteration
Under BP 220 maximum 2m

headroom clearance if ceilings
are not provided
Under BP 220 mezzanine floors 1.8 m 50%

shall have a clearing height of _
above and below it. It should
not cover _ of the floor area
below it.
Under BP 220 minimum clear 0.8 m

widths for main door

widths for service or bedroom
door

widths for bathroom door
Industrial estate Industrial subdivision
Industrial subdivision Industrial estate
Reviewer
Under BP 220 openings for 10% of floor area
windows should be at least _
Under BP 220 openings for at least 20% of floor area

bathroom windows should be _
Under BP 220 stairs should 0.6 m

have a minimum width of

have a maximum riser of

have a minimum tread of
Under BP 220 maximum height 3.6 m

between stair landings
Use limited to the provision of Ancillary use

resting places for cremated
human remains of the
religious/members of
congregation such as but not
limited to priests ministers
pastors and the like and their
spouses if applicable
Ashes resulting from the Cinerary remains cremains

cremation of a dead body
Reviewer
A structure either freestanding Columbarium
or part of another building
containing niches for the
inurnment of human remains
A process that reduces human Cremation

remains to bone fragments of
sand-like substance and ashes
through combustion and
dehydration
Disportion of human remains Internment

by burial in the earth
entombment in a mausoleum
or inurnment in a columbarium
Placing of cremated remains in Inurnment

an urn
Compartment used as Niche

internment space
A niche in a columbarium Cinerarium vault

project
Internment space for the Ossuary

bones
A subdivision scheme where Gridiron Subdivision

the resulting blocks are more
or less rectangular in shape
Reviewer
A subdivision plan prepared Square planning
for a flat terrain condition
Subdivision developers are 30%

required to develop a portion
of the gross area of the project
inclusive of road alleys and
other service areas for park
and recreation Equivalent to _
of the gross area of the land
A certificate issued by the Certificate of Registration

HLURB that is proper only
upon compliance with §4 of
PD 957 and other similar
provisions of the various rules.
It vests legal status in a project
such that its name may be
changed onlly upon proper
application and publication a
Pagtutulungan sa Kinabukasan: Ikaw Bangko

Pag-IBIG
Industriya at Gobyerno
Pagtutulungan sa Kinabukasan: Pag-IBIG

Ikaw Bangko Industriya at
Gobyerno
Pag-IBIG Fund HDMF Home Development Mutual Fund
Housing and Urban HUDCC

Development Coordinating
Council
Reviewer
A subdivision plan prepared Curvilinear layout
for a rolling terrain condition
_ is a survey map indicating the Topographic map

elevation and contour of the
property.
Topographic map is a survey Elevation

map indicating the_ and
contour of the property.
Topographic map is a survey Contour

map indicating the elevation
and_ of the property.
A scale of 1:200 in surveying is_ 1 cm

is equal to 2 m.
A scale of 1:200 in surveying is 1 200cm 2 m

cm is equal to_ .
A kind of survey where the Geodetic Survey

shape of the earth is taken into
account in computing the
results
Refers to the imaginary line Tie Line

connecting from a reference
point to point "1" of any given
lot plan
Reviewer
The following are types of B. Bearing and azimuth these are just angles and do
property descriptions not describe anything else
ordinarily used in deeds
contracts offer to sell and
lease except: A. Lot number B.
Bearing and azimuth C.
Monuments D. Rectangular
survey E. Metes and bounds
A standard term used to a fixed Cylindrical Concrete Monument

object or as reference point
established and set by a
geodetic engineer to indentify
the land boundaries
Survey symbols that represent Psd

the subdivision survey by
private geodetic engineer
Which of the following reasons B. As a basis for establishing points and locating the
is not a valid justification to land boundaries
conduct a topographic survey?
A. As a basis for determining
the cost of land development
B. As a basis for establishing
points and locating the land
boundaries C. As a basis for
designin
Reviewer
A land survey always uses a E) All of the above
reference point which could
be: A) Bureau of Lands
Location Monument B)
Municipal Location Monument
C) Provincial Boundary
Monument D) City Boundary
Monument E) All of the above
A map that shows the location Location Map

of the property indicating
known landmarks such as
church bridge school
commercial establishment and
name of roadways leading to
the property
A kind of survey in which Photogrammetry Survey

photographs are used to
determine the configuration of
land man-made and natural
features
In an approved lot plan you C) N 92 deg. 37' 40" E directions must be in the
will never find a direction range (0 90) excluding both 0 and 90
described as: A) N 78 deg. 27"
E B) S 1 deg. 78" E C) N 92 deg.
37' 40" E D) Due North
In some old Spanish titles the 100 m²

unit of measure of 1 are is
equivalent to
Reviewer
To plot a given property the Bearing
basic data needed are the_ and
distance of the lines indicated
in the lot descriptions.
To plot a given property the Distance

basic data needed are the
bearing and_ of the lines
indicated in the lot
descriptions.
A tract of agricultural land 29 300 m² 2.93 hectares

measuring 2 hectares 86 ares
and 700 centares has a total
area of _.
A professional person who Geodetic Engineer

determines the shape contour
and measurement of land
_ refers to a subdivision plan Gridiron layout

where the resulting blocks are
rectangular in shape.
Gridiron layout refers to a Rectangular

subdivision plan where the
resulting blocks are_ in shape.
The first survey undertaken on Original Survey

a piece of land to determine its
technical descriptions area and
relative location with other
lands
Reviewer
The technical description in the Bearing distances from lot points
TCT of real property can be
readily plotted on a sheet of
paper by using what kind of
data?
Lines in a topographic map Contour lines

which indicate the elevation of
the terrain at various sections
Methods of identifying the Relocation Survey

boundaries of a parcel of land
by placing stakes or pins in the
ground or by pointing marks
on stone wall or rocks
BLLM Bureau of Lands Location Monument
Using the 4-3-2-1 rule (depth ₱ 2 000 000.00

5 000 000.00. What is the share
of lot owners owning the first
Fixed objects and points Tie Point

established by the surveyors to
establish land locations
Survey of wide extent within a Cadastral Survey

municipality or a province for
the purpose of locating
property lines in connection
with existing ownership
Reviewer
A reference point with known Tie Point
geographic position
established by the Bureau of
Lands
BLBM Bureau of Lands Barrio Monument
Pls Public Land Subdivision
A map showing the Lot Plan

configuration of a parcel of
land and also the basic
information of a survey plan
A plan showing how a property Subdivision Scheme

will be subdivided indicating
the layout and sizes of the
subdivision lots roads
playgrounds open spaces and
other amenities
The accurate measurement of Surveying

land to determine its
boundaries its area and its
contours or elevation
A_ survey are done by the Public

government
A public survey are done by Government

the_
PBM Provincial Boundary Monument
Reviewer
The amount of family home ₱ 1 000 000
equivalent to fair market value
considered as allowable
deduction from the estate of a
decedent
In payment of estate tax an 5%

allowed deduction to the gross
estate of a decedent is funeral
expense which is_ of gross
estate or ₱200000 whichever is
lower.
In payment of estate tax an ₱200 000

allowed deduction to the gross
estate of a decedent is funeral
expense which is 5% of gross
estate or_ whichever is lower.
(6) months from decedent's death. However, the

The Estate Tax Return shall be
Commissioner may, in meritorious cases, grant
filed with the BIR within_
extension not exceeding thirty (30) days.
Real estate brokers with an ₱720 000 or more

aggregate income of_ within a
12-month period are required
to register as VAT taxpayers.
Real estate brokers with an 12-month

aggregate income of ₱720 000
or more within a_ period are
required to register as VAT
taxpayers.
Reviewer
Real estate brokers with an VAT
aggregate income of ₱720 000
or more within a 12-month
period are required to register
as_ taxpayers.
Documentary Stamp Tax for ₱15 for every ₱1000 or fraction thereof
sale of real estate
Documentary stamp tax for ₱20 for first ₱5000 ₱10 for every ₱5 000 thereafter
mortgages
Documentary tax for lease ₱3 for first ₱2 000 ₱1 for every ₱1 000 thereafter
A real estate property with an A) ₱3600000 / 1.12 × 5% = ₱160 714.28 B) ₱3600000 /

LTS and classified as ordinary 1.12 × 6% = ₱192 857.14 C) ₱3600000 / 1.12 = ₱3 214
asset was sold for ₱3.6 million. 285. 3 215 × ₱15 = ₱48 225 D) ₱3 600 000 / 1.12 × 0.5
Compute the following: A) % = ₱16 071.43
creditable withholding tax B)
commissionable amount if the
commission rate is 6% C)
documentary stamp tax D)
transfer tax if p
During the entire year of 2013 exclusive: ₱180 000 × 0.12 × 12 = ₱ 259 200 inclusive:
monthly rent income of a ₱180 000 × (1-1/1.12) × 12 = ₱231 428.57
commercial building is ₱180
000 per month. How much is
the output tax if the rent is
exclusive of VAT? What if it is
inclusive?
Reviewer
A broker sold a subdivision lot ₱5 500 000 / 1.12 × 5% × (1-10%) = ₱220 982.14
priced at ₱5 500 000 inclusive
of E-VAT. How much is the 5%
commission of the broker net
of creditable withholding tax?
BIR Revenue Regulations No. BIR Form No. 1700

2-2014 prescribes new Income
Tax Forms. What is the ITR form
for individuals earning purely
compensation income?
BIR Revenue Regulations No. estates and trusts?

for self-employed individuals
BIR Revenue Regulations No. BIR Form No. 1702RT

for corporations partnerships
and other non-individual
taxpayers subject to regular
income tax?
BIR Revenue Regulations No. BIR Form No. 1702EX

taxpayers exempted under the
Tax Code as amended?
Reviewer
BIR Revenue Regulations No. BIR Form No. 1702MX
taxpayers with mixed income?
A legal remedy under Writ of Kalikasan

Philippine law which provides
for the protection of one's right
to a "balanced and healthful
ecology in accord with the
rhythm and harmony of nature"
as provided in § 16 Article II of
the Philippine Constitution
It is compared with the writ of Writ of Kalikasan

amparo but protects one's right
for a healthy environment
rather than constitutional rights
Using the 4-3-2-1 rule (depth ₱3 000 000

of lot owners owning the
second quarter abutting the
road?

of lot owners owning the third
Reviewer
of lot owners owning the last
Lays out basic requirements for Qualified Mortgage Rule QM

lender underwriting. The
originator of the loan must
verify all sources of income
and assets and verify that the
borrower has the ability to
repay the mortgage.
Based on § 15 of RA 8763 HUDCC NEDA

socialized housing price
ceilings are set by_ and_
Comprehensive Agrarian Reform Program Extension

RA 9700
with Reforms CARPER August 7 2009
RA 9700 Comprehensive Agrarian Reform Program

CARPER
Extension with Reforms August 7 2009
Comprehensive Agrarian Reform Program CARP

RA 6657
June 10 1988
RA 6657 Comprehensive Agrarian Reform Program

CARP
June 10 1988

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9/22/23, 2:30 AM Reviewer Flashcards | Quizlet

Social Science Economics

Terms in this set (559)

A building is depreciated at 40 years

A person who determines the Real Estate Appraiser

Real Estate Appraiser A person who determines the land value

Using the 4-3-2-1 rule (depth ₱ 4 000 000

The following are determinants except: A) contribution B) demand C) purchasing

An appraisal technique in Market Data Approach

Income approach for an B) on commercial and investment property rented

The income approach to value Anticipation

This principle holds that when Principle of Competition

An appraisal principle which Principle of Progression

Several houses valued at Principle of Regression

Which of the following is never C) Conviction of the previous owner on charges of

The selling price of a real B) Exchange Value

The increase in value of real Unearned Increment

Refers to that use which will Highest and Best Use

Added value inherent on a lot E) Corner Influence

The difference between the Buyer's Equity

Refers to the use an object is Utility

Which f the ff is nt essential n d C) Assessed Value indicated in the Tax Declaration

A method of computing Age-life method or straight line method

An estimate of quantity quality Appraisal

The process through which Appraisal

The report setting forth the Appraisal

An appraiser's written opinion Appraiser's Report

Loss of value from forces Economic obsolescence external obsolescence

A building wall or fence that Encroachment

The age of a building based on Effective Age

The period of time during Economic Life

Kinds of depreciation in deterioration functional obsolescence and

A statistical study f human Demography

Prvsns n a deed lmtin d ftre Deed Restrictions

The principle that buildings Principle of Conformity

Properties that are substantially Comparables

The principle that no physical Principle of Change

Defects in a building or Functional Obsolescence

A lease of land only on which Ground Lease

The legally and physically Highest and Best Use

An appraisal technique used to Index Method

The lessor's interest and rights Lease Fee

The leasee's right to possess Leasehold

The subsequent increase in the Plottage Value

A lease commonly used for Percentage Lease

A lease that stipulates a base Percentage Lease

The number of years of useful Economic Life

The current construction cost Replacement Cost

Ownership interest of a Sandwich Lease

A method of valuing land to be subdivision development method land

The rate at which properties Forecast Absorption

Total income that the project Projected Gross Sales

The basic appraisal premise Principle of Substitution

A principle that the value of a Principle of supply and demand

The value of goods and Value in Exchange

The average selling price of B) An Appraisal

Your client asked you to make ₱9