Instruction: Select the best answer. Write only the letter that corresponds to your answer.

Practice Test REBLEx 2024 January 25, 2024

1. What pertains to the resolution with regard to the Code of Ethics and Responsibilities for Real Estate
Practitioners?
A. Board Resolution No. 19, series of 2019
B. Board Resolution No. 29, series of 2019
C. Board Resolution No. 39, series of 2019
D. Board Resolution No. 49, series of 2019

2. This person will not be considered as engaged in the practice of real estate service.
A. A landowner who sells his own residential lot.
B. A developer selling residential house and lots.
C. Realty marketing company selling condominium units.
D. Attorney-in-fact who sells a lot of his principal for a commission

3. What is the cash or payment in kind given by landowner or developer to tenant farm workers or bona
fide occupants to be affected by the DAR conversion?
A. Farmer’s Indemnity Assistance
B. Ejectment Compensation Fund
C. Tenant Share Remuneration
D. Disturbance Compensation

4. The right or pre-emption or right of first refusal under PD 1517 is exercisable by a legitimate tenant
in urban land if he has occupied the for:
A. 5 years.
B. at least 10 years.
C. 15 years.
D. at least 20 years.

5. The performance bond for a subdivision project may be in the form of a surety bond equivalent to:
A. 10% of Development Cost
B. 15% of Development Cost
C. 20% of Development Cost
D. 30% of Development Cost

6. Which of the following cannot be issued Condominium Certificate of Title?

A. House and lot in a subdivision
B. Two-level Row Houses
C. Industrial Warehouses
D. Townhouses

7. In global mapping, the angular unit of measure of the arc of the equator either east or west of
Greenwich meridian.
A. Latitude
B. Longitude
C. Parallels
D. Meridian
8. A scale of 1:200 in surveying is equivalent to on the ground:
A. 1 cm is equal to 20 meters
B. 1 cm is equal to 200 meters
C. 1 meter is equal to 20 meters
D. 1 meter is equal to 200 meters

9. The form of deed used to return title to real estate to its owner when the debt secured by a deed of
trust is paid in full is the:
A. Quitclaim Deed
B. Tax Deed
C. Warranty Deed
D. Reconveyance Deed

10. A subdivision plan needs only the approval of the Land Registration or Land Management Bureau to
effect segregation of titles when the resulting number of lot is:
A. nine (9) or less
B. ten (10) or less
C. twelve (12) or less
D. twenty (20) or less

11. It is the maximum lot area under the Pag-IBIG Housing loan.
A. 500 square meters
B. 1,000 square meters
C. 1,200 square meters
D. 1,500 square meters

12. The banks of rivers and streams and the shores of the seas and lakes throughout their entire length
and within a zone of _______ in agricultural areas.
A. 3 meters
B. 15 meters
C. 20 meters
D. 40 meters

13. The legal right to remove items such as topsoil or quarry materials from land belonging to another is
known as:
A. Profit
B. Emblements
C. Easement
D. Eminent Domain

14. The fact that housing trends to pass to lower groups is known as:
A. Multiplier effect
B. Filtering down
C. Economies of scale
D. Diminishing return
15. A loan that requires a small percentage cash down payment. Generally, loans that cover more than
80% of the value of the mortgaged property. Such loans generally require loan insurance of
guarantee.
A. With High Interest Mortgage
B. High Mortgage
C. Rationed Mortgage
D. High-Ratio Mortgage

16. What is HELOC?

A. Home Equity Line of Credit
B. Home Equity Credit
C. Home Line of Credit
D. Home Equitable Line Credit

17. It is the delineation or division of a city/municipality into functional zones where only specific land
uses are allowed. It directs and regulates the use of all lands in the community in accordance with an
approved or adopted land use plan for the city/municipality.
A. Land Use Planning
B. Zoning
C. Zoning Ordinance
D. Comprehensive Land Use Plan

18. Transfer tax must be settled ________ from the execution of the deed of sale, barter or donation or
any other mode of transfer of ownership.
A. 30 days
B. 3.5 months
C. 6 months
D. 60 days

19. Lower-valued properties generally benefit from close proximity to many properties of higher value
and higher valued properties tend to suffer when placed in close proximity with lover valued
properties.
A. Principle of Progression & Regression
B. Principle of Surplus Productivity
C. Principle of Increasing & Decreasing Returns
D. Principle of Highest and Best Use

20. The deposit instruments and funds with a third neutral party with instructions to carry out the
provisions of an agreement or contract.
A. Earnest money
B. Option money
C. Escrow account
D. Security payment

21. Personal property that will become real property.

A. Realty
B. Fixtures
C. Trade fixtures
D. Business fixtures
22. Ownership on the property for the duration of the life of the possessor or another.
A. Life state
B. Leasehold
C. Lease fee
D. State in perpetuity

23. Title remains with new owner while the condition is met.
A. Precedent
B. Subsequent
C. Determinable
D. None of the above

24. Landlord interest on the real property.

A. Leasehold
B. Lease fee
C. Lessee
D. Lease rent

25. Only this classification of land can be alienated.

A. Residential
B. Commercial
C. Agricultural
D. Special

26. Right granted to owner of property abutting river and streams.

A. Riparian
B. River right
C. Water right
D. Littoral right

27. Easement that benefits another person than the property.

A. Gross
B. Net
C. Personal
D. Third person

28. Power of the state to take private property upon payment of just compensation.
A. Expropriation
B. Eminent domain
C. Police power
D. Escheat

29. Under RA 8791, the maximum redemption period after extrajudicial foreclosure of a mortgage
executed by a corporation in favor of the bank is:
A. 3 months
B. 6 months
C. 12 months
D. Before the Court approve the sale
30. Under RA 6732, administrative reconstitution of lost or destroyed original copies of certificates may
be availed of when the lost or destroyed certificates in the Registry of Deeds consist of at least:
A. 5% of all titles in the registry
B. 8% of all titles in the registry
C. 10% of all titles in the registry
D. 15% of all titles in the registry

31. To avail of exemption from capital gains in the sale of a family home, the seller is required, among
others, to notify the BIR through a prescribed form of his intention to avail of the exemption. The
notice must be filed within:
A. 10 days from the date of sale
B. 15 days from the date of sale
C. 25 days from the date of sale
D. 30 days from the date of sale

32. A building is depreciated at 2.5% per year on a straight-line method. What is the estimated useful life
of the building?
A. 20 years
B. 30 years
C. 40 years
D. 50 years

33. Capital gains tax on the sale of real estate classified as capital asses is a/an:
A. Creditable tax on sale
B. Final withholding tax
C. Expanded withholding tax
D. Deductible item from income tax

34. If the property is an ordinary asset, what is the applicable tax?

A. Creditable withholding tax
B. Ad valorem tax
C. Capital gains tax
D. Percentage tax

35. The seller realized a 30% gross profit over his cost. If the property is sold at P2,000,000.00, the cost
is:
A. P1,483,642.00
B. P1,538,462.00
C. P1,583,246.00
D. P1,608,264.00

36. Area required to be reserved for roads, alleys and open spaces in a subdivision with an area of one
hectare or more.
A. 20% of the gross area.
B. 25% of the gross area.
C. 30% of the gross area.
D. 35% of the gross area.
37. Under the Law on Expropriation, in case of conflict of just compensation, the concerned agency
expropriating the private property is required to initially pay an amount equivalent to 100% of
________ of the lot.
A. Zonal value
B. Assessed value
C. Appraised value
D. Offered amount

38. Ariel bought a subdivision lot at P1,000,000.00 and paid 30% downpayment. The balance is to be
amortized for 60 months at 21% interest per annum. The amortization factor is 0.02705, determine
the interest equivalent of the first monthly amortization.
A. P10,750.00
B. P12,250.00
C. P14,920.00
D. P15,730.00

39. In case of foreclosure sale where the right of redemption is not exercised by the mortgagor-owner,
who pays the capital gains tax?
A. Creditor-bank
B. Owner-mortgagor
C. Government
D. Buyer of the property

40. Unpaid real property tax is subject to 2% per month interest up to a maximum period of:
A. 12 months
B. 18 months
C. 24 months
D. 36 months

41. The capital gains tax on the sale P2,000,000.00 property with P600,000.00 initial payment.
A. P36,000.00
B. P120,000.00
C. P60,000.00
D. P100,000.00

42. When a done of a parcel of land is a stranger, the donor’s tax under TRAIN Law is:
A. 3%
B. 5%
C. 6%
D. 12%

43. Registration of mortgage covering projects can only be affected when the deed is accompanied by a
permit to mortgage issued by:
A. DHSUD
B. NHA
C. LRA
D. Registry of Deeds
44. The maximum amount of family home equivalent to fair market value considered as allowable
deduction from the estate of a decedent.
A. P3,000,000.00
B. P5,000,000.00
C. P8,000,000.00
D. P10,000,000.00

45. The collateral value of a house and lot package is determined under Pag-IBIG Home Lending
Program by applying the:
A. Assessed value
B. Loan to value ratio
C. Economic value
D. Appraised value

46. The use of borrowed funds to increase purchasing power is ideally to increase the profitability of an
investment.
A. Limited liability
B. Interim financing
C. Leverage
D. Debt coverage

47. A petition may be filed by one or more unit owners of condominium project when damage to the
project has rendered one-half of the units untenantable and unit owners holding more than ____
percent in the common areas are opposed to repair or restoration of the project.
A. 30%
B. 40%
C. 50%
D. 70%

48. A clause used in leases and mortgages that cancel specified right upon the occurrence of a certain
condition, such as cancellation of mortgage upon repayment of mortgage loan.
A. Automatic redemption clause
B. Acceleration clause
C. Hold-over clause
D. Defeasance clause

49. In sale with assumption of mortgage, the basis of the documentary stamp on sale is:
A. contract price.
B. selling price.
C. mortgage price.
D. mortgaged assumed.

50. When a buyer is sold to 2 or more buyers, the property goes to:
A. Buyer who was in first possession.
B. Buyer who pays the highest price.
C. Buyer who first signed the Contract to Sell.
D. Buyer in good faith who first registered the sale with Register of Deeds