03.

2022 REBLEx Practice Quiz 1

Expenses that should be paid by the condominium corporation, except *

a. Real property tax of the common area

b. Insurance of the common area
c. Real property tax of the unit
d. Maintenance of the common area

The Personal Property Security Act (PPSA) (July 24, 2017) *

RA 11594
RA 11057
RA 8532
RA 10023

The professional tool is (in) pursuing a real estate consulting engagement or an orderly method of
solving a real estate problem or helping a client read (reach a) decision on alternatives available is
referred to as: *

a. The Decision-Making Process

b. The Appraisal Process
c. The Real Estate Consulting Process
d. The Investment Analysis

A study that uses economic principles to analyze the impact that national, regional, community, and
neighborhood trends have on real estate values, is referred to as: *

a. Real estate appraisal

b. Real estate consulting
c. Real estate brokerage
d. Real estate economics

Created Dept. of Agriculture (DA) and Dept. of Environment and NaturalResources (DENR). (1974) *

PD 1096
PD 1517
PD 1529
PD 461

The four types of communities frequently developed with golf courses are the following, except: *

a. first-class communities
b. semi-retirement communities
c. second-class recreational communities and resort communities
d. socialized housing communities
A merger between buyer and supplier is an example of: *

a. Horizontal Merger
b. Forward vertical merger
c. Backwards vertical merger
d. Conglomerate Merger

Feedback
Actually, it depends on whose perspective. If buyer's perspective, it is backward integration because he is
merging to an entity behind the production chain. But from perspective of the seller, it can be a forward
integration because he is merging with an entity below him.

STEPS in the scientific method of real estate decision making consists of the following, except: *

a. Clearly identify and define the problem or purpose of the investigation

b. Collect relevant data and analyze the data collected
c. Formulate and test the tentative decisions, and arrive at a final decision or
conclusion
d. Redefine the problem or purpose of the investigation to suite the final conclusion

A tool or technique in the unification or synthesis of individual studies on market, technical, financial,
socio-economic, and management aspects of the project is referred to as: *

a. Market Analysis
b. Location and site analysis
c. Project evaluation and review technique
d. Project feasibility study

What is the tax payable to the local government unit for sale, transfer or other disposition of real estate
is capital or ordinary asset? *

a. Transfer Tax
b. Capital Gains Tax
c. Withholding Tax
d. Value Added Tax

Investment analysis is a technique in determining if a particular investment opportunity is right to meet

the client’s objectives, which involves at least three basic steps, except: *

a. Define the client’s investment objectives and translate them into criteria
b. Decide on the type of real estate investment
c. Screen the available opportunities to eliminate those that do not fit the criteria
d. Change the client’s objectives to suit the results of the analysis

Which of the following refers to confidentially? *

a. A practitioner must not disclose sensitive factual data obtained from a client.
b. A practitioner must not act in a manner that is misleading or fraudulent.
c. A practitioner must not act for two or more parties in the same matter.
d. A practitioner must perform an assignment with the strictest independence and
objectivity.
As prerequisites for successful IS planning, top management must recognize the following, except: *

a. that IS is an indispensable resource and is tool to control

b. that IS is a complex resource owned by the entire organization
c. that IS is a source for gaining strategic goals
d. that IS is not an integral part of the organization

Sale of property, stocks or other assets in an urgent manner often at a loss *

a. Auction sale
b. Short sale
c. Distress sale
d. Voluntary sale

Philippine Clean Water Act of 2004 *

RA 8749
RA 9275
RA 10023
RA 11231

The following are the powers of the Management Body in the condominium project except: *

a. Annotate the conveyance to the certificate of title covering the land.

b. Enforce all provisions of the Declaration of Restrictions
c. Pay taxes and special assessments imposed on the project
d. Purchase materials, supplies and the like

In a condominium building, each resident unit owner owns the interior space within that unit. The
remainder of the building and site are ______ enjoyed by each resident according to the condominium
by-laws. *

a. Common elements
b. Common areas
c. Common property
d. Community property

A new law enacted give more credibility to notarized documents by imposing a penalty of 6 years jail for
perjury *

RA 6389
RA 3844
RA 11594
RA 6390

Removed restrictions and encumbrances on free patents (2019) *

RA 11231
RA 9275
RA 8974
RA 10023
Agrarian Reform Fund Bill –extended RA 6557 another 10 years until 2009. (1998) *

RA 8532
RA 8974
RA 10023
RA 11573

A Bureau of the Department of Finance who is an authority in local finance, taxation, real property
assessment and other related matters. *

a. Bureau of Custom
b. Bureau of Immigration
c. Bureau of Local Government Finance
d. Bureau of Immigration

investors emphasize the following objectives and may consider a combination of them, except: *

a. liquidity and cash flow, safety of principal

b. maximum current income and future income
c. protection form (from) inflation, tax shelter, capital gains
d. secure political and social standing

“Buyers Beware” comes from: *

a. Caveat Emptor
b. Res Ipsa Loquitor
c. Ignoratia Legis Non Excusat
d. Mens Rea

Special Economic Zone Act – the process for identifying land for economic zones. (1995) *

RA 7916
RA 8974
RA 8749
RA 9700

Alternative course of action or strategies are drawn from the following, except: *

a. client objectives involving identification of needed data and tools of analysis and
decision making that might be applicable,
b. resources to carry implement the engagement and
c. identification of the time and money constraints imposed on the entire process.
d. confidential consultations with the client’s close associates

Up to how many years will HDMF lend to their member, if the last payment is at age 70 *

a. 20 years
b. 25 years
c. 30 years
d. 15 years
Foreign equity in a condominium corporation shall______ *

a. Not exceed 40%

b. Be at least 40%
c. Not exceed 50%
d. Be at least 50%

A real estate dealer sold a residential property for 2,000,000 pesos and an acquisition cost of 1,500,000
or a gain of 500,000 pesos, is subject to: *

a. 6% capital gains tax

b. Specific Tax
c. Expanded Withholding tax, subject to final income tax
d. Fixed Tax

The different fee arrangements are influenced by following, except *

a. the amount of time required

b. research to support pre-determined conclusion desired by the client
c. the complexity and importance of the problem involved
d. expertise of the consultant in general and in relation to the problem involved

Which of the following is the first information the consultant/analyst must know through which he will
perform his tasks or goals in IS development? *

a. System development budget

b. System development manager
c. System development timetable
d. System requirements or functions

The new Public Land Act, expanding distribution of land by homestead,free patent, sale, lease, and
judicial confirmation of titles for land occupied more than 30years. (1936) *

RA 1199
CA 141
PD 461
EO 92

The consultant may base his fee on the following considerations, except: *

a. Intricacy of the problem

b. Urgency of the engagement
c. Professional skills required
d. Pre-determined advice agreed with the client

A higher exchange rate or strong peso leads to cheaper imports and trends of more imports than
exports may lead to: *

a. Trade surplus
b. Balance of trade
c. Balance of trade deficit
d. Balance of payment
Strengthened the implementation of the CARP. (1995) *

Option 1
RA 11573
RA 9397
RA 7905

In the context of information system, the three factors that can trigger the development of a new
information system are the following, except: *

a. opportunity for increase in revenue

b. problems from the present system
c. directive from management or outside authority
d. big accumulated earnings

A member of the condominium Corporation with due notice can inspect the books and record during
regular office hours except: *

a. Member in good standing

b. Authorized representative of the unit owner
c. Competitor
d. Member not in good standing

In terms of ownership, timesharing marketed in recent years is a special form of: *

a. Fractional ownership interest

b. Full ownership interest
c. Strictly 50/50 ownership interest
d. Strictly non-assignable partial investment

Classification of public lands require a positive act of the government which is an exclusive prerogative
of the: *

a. Judicial department
b. Quasi-judicial agencies
c. Executive department
d. Legislative department

Feedback
Based on GR 229983, July 29, 2019.

Allowed sale of public land up to 1,000 sqm (1952) *

RA 730
RA 4726
RA 1400
RA 34
Created the Human Settlements Commission. (1976) *

PD 933
PD 892
PD 1096
PD 1517

To provide space for the production, storage, and distribution of economic goods and services is the
basic function of: *

a. Industrial estate
b. Commercial estate
c. Residential estate
d. Resort estate

Philippine Clean Air Act (1999) *

RA 7881
RA 8749
RA 9275
RA 9397

Three of the four enumerated acts of a broker are considered unethical. Which is not? *

a. Encouraging the parties to a sale to indicate a consideration lower than the actual
selling price
b. Keeping special bank account, separate and distinct from his own funds, for all
monies received in trust for other persons such as client’s money and similar items
c. Disclosing his client’s confidential personal information to a fellow broker in order to
facilitate the sale of his client property.
d. Delaying submission of a formal offer that he had received from a prospective buyer
in the hope of getting a higher offer.

Declared full ownership to qualified farmer-beneficiaries covered by PD27. (1987) *

EO 228
EO 229
EO 192
Eo 129-A

Amending RA 7279, government may sell land for socialized housing without bidding. (2007) *

RA 8974
RA 8749
RA 9397
RA 10023
Created the DAR (1971) *

RA 6389
RA 6390
RA 6552
RA 8749

Expropriation Act – for government projects. (2000) *

RA 8974
RA 9700
RA 9275
RA 11573

Comprehensive Agrarian Reform Law of 1988) (June 10, 1988) *

RA 7905
RA 8532
RA 9275
RA 6657

The single most important economic factor in valuing a region is: *

a. Employment level
b. Economic change
c. Population change
d. Political change

The scientific method of decision-making starts with: *

a. the client “problem” that needs definition and solution

b. the client proposed solution to the “problem”
c. the client past solution to the problem which failed
d. the client resources to answer for needed cash to undertake comprehensive study

The following are characteristics of property, except *

a. Individuality
b. Utility
c. Stewardship
d. Susceptibility of appropriation

The first major investment feasibility step for a proposed hotel is: *

a. Location analysis
b. Demand analysis
c. Supply analysis
d. Market entry analysis
Location analysis is supported by a thorough study of the reasonable and probable use that results in
the highest present value of the land after considering all legally physically possible and economically
feasible referred to as: *

a. Highest and best use analysis

b. Project feasibility analysis
c. Market analysis
d. Decision making process

Environmental Impact Statement System. (1978) *

PD 1096
PD 1586
PD 1529
PD 957

A project, with investment cost of P50 million, is projected to produce net cash flows before tax of P12
million yearly. Applicable tax is 25%. Assuming that the yearly net cash inflow is subject to tax, the
projected payback period: *

a. 5.55 years
b. 3.25 years
c. 6.61 years
d. 4.16 years

The reasonably probable and legal use of vacant land or an improved property, which is legally
permissible, physically possible, financially feasible, and maximally productive, is referred to as the: *

a. Highest market value

b. Highest zonal value
c. Highest cost value
d. Highest investment value

Identify the Management Body in a condominium project *

a. Condominium Corporation
b. Home Owner’s Association of the condominium
c. Developer of the condominium project
d. Land owner of the condominium project

Introducing the Torrens system of recording titles. (1903) *

Act 926
Act 496
Act 2874
Act 4054

The minimum paid up capital required under Sec. 8.2 of RA 9856 or REIT in pesos *
1/1
a. 3,000,000
b. 30,000,000
c. 300,000,000
 d. 3,000,000,000

The consultant’s responsibilities to the client includes the following, except: *

a. Know the client’s business in relation to the subject of consultation

b. Implement the engagement and render the report in accordance with generally
accepted standards of consulting practice and ethics.
c. Submit the report and the date provided in the engagement contract without limiting
conditions
d. Assist the client implement the decision or alternative action recommended as may
be required by the engagement
v
the specific value of goods services to (a) particular funder (or class of funders) based on individual
return of capital requirements is referred to as the: *

a. Appraised value
b. Transaction value
c. Market value
d. Investment value

Amended R.A. 7916, provisions for the PEZA (1999) *

RA 9275
RA 9397
RA 11231
RA 8748

Objective recommendations about a client’s plan may include the following except: *

a. Abandon the plant entirely, not legally permissible

b. Consider the plan, but revise marketing strategy
c. Consider the plan, but not this year yet
d. reconsider the plan, it will antagonize a politician

Rice share tenancy 70-30 (1946) *

RA 34
RA 730
RA 1400
RA 4726

Identify the document that would put a project within the scope and coverage of the Condominium Law
*
a. Master deed
b. Master lease
c. Trust lease
d. Deed of restrictions
Any question or doubt arising from historical or prospective reality investment desire dealing with
difficult decision on available alternative courses of action, project, or situation, which calls or the
consultant’s decision-making service is referred to as the: *

a. Client’s problem
b. Client’s objective
c. Client’s distressed situation
d. Client’s disturbing situation

The one element in a real estate development that cannot be duplicated exactly by competition: *

a. Location
b. Improvement
c. Land use plan
d. Amenities

(CARPER) -- Extending R.A. 6557 another 5 years until June 2014. (2009) *

RA 9700
RA 11231
RA 11573
RA 10023

Declared agrarian land reform as a major program of thegovernment. It provided for a special fund
known as the Agrarian Reform Fund (ARF), withan initial amount of Php 50 billion to cover the estimated
cost of the program for the first 5 years. (1987) *

Proclamation No. 131

EO 129-A
RA 7881
EO 363

Set up court of agrarian relations (1954) *

RA 1400
RA 1199
RA 4726
RA 6390

Provided mechanism for the implementation of the comprehensive agrarian reform program. (1987) *

EO 192
EO 129-A
EO 229
EO 228

58) Compute the number of years of experience before a licensed real estate broker can qualify to take
the licensure examination for real estate consultants. *
a. At least 10 years
b. At most 10 years
c. At least 5 years
d. At most 5 years
The Cadastral Act provided a procedure for adjudication of public lands and mandated government
surveys. (1913) *

Act 926
Act 4054
Act 496
Act 4113

The Condominium Act - a landmark law that introduced thecondominium concept of ownership. (1966)
*
RA 1400
RA 4054
RA 2874
RA 4726

Streamlined and expanded the power and operations of the DAR. (1987) *

EO 228
EO 229
EO 192
EO 129-A

The four HBU criteria of legally permissible, physically possible, financially feasible, and maximally
productive are considered or applied: *

a. Often in sequential order

b. In alternate order
c. In any order
d. In the reverse order

Feasibility analysis or study can be undertaken by a consultant in different approaches and degree of
sophistication depending on the following, except: *

a. the type of property involved, and nature of the investment involving the property,
b. time required to complete the study and recommendation,
c. the style of the consultant as influenced by his experience and expertise
d. the client- consultant personal relationship

Rice share tenancy act. (1933) *

Act 4113
Act 2874
Act 496
Act 4054

The “CREATE” law *

RA 11534
RA 11057
RA 10884
RA 1199
Regulated tenancy over sugar cane lands. (1934) *

Act 2874
Act 4113
RA 11534
RA 11057

Abolished share tenancy, institutionalized lease holding, created theLand Bank and Court of Agrarian
Relations. (1963) *

RA 4726
RA 3844
RA 6389
RA 6552

A thorough and systematic analysis of all the factors that affect the possibility of success of proposed
project or undertaking, to serve as the basis for deciding whether the project is to be abandoned, revised
or pursued, is referred to as: *

a. Market analysis
b. Investment analysis
c. Financial analysis
d. Project feasibility study

Amended certain provisions of RA 6657 and exempted fishponds and prawns from the coverage of
CARP. (1995) *

RA 7881
RA 10023
RA 8974
RA 8532

By buying real estate in cash to avoid the cost of mortgage payments or invest in high return but risky
investment such as in resort properties dependent on recreation and tourist industries, which of the
following investor objectives can be achieved: *

a. Safety of principal
b. maximum future income
c. maximum current income
d. tax shelter

Real estate markets have the following certain unique characteristics that may cause market
distortions, except: *

a. Real estate is durable and fixed in location

b. Legal restrictions prevent orderly market adjustments
c. Real estate markets are highly localized
d. Supply and demand are fast to adjust to new market conditions
In consulting analysis, a real estate situation in which something has gone wrong without explanation is
referred to as a: *

a. Distress
b. Crisis
c. Problem
d. Disaster

Determine the best approach to determine the value of single-family dwellings *

a. Cost approach
b. Market approach
c. Income approach
d. Residual approach

Subdivision and Condominium Buyers Protective Decree – another landmark law which continues to be
the basis for technical compliance, registration, and licensing of real estate developers with the DHSUD.
(1976) *

PD 1096
PD 1529
PD 957
PD 1586

Market analysis for industrial properties is complicated by the following factors, except: *

a. the market area for these properties is more widely scattered

b. demand is more limited
c. supply is highly differentiated according to the operation of the enterprise
d. high-priced industrial machinery is generally custom built

The Management body of a condominium project may be anyone of the following, except____ *

a. The local authority where the condominium building is located.

b. The condominium corporation
c. The association of condominium owners
d. The Board of Governors elected by the owners

Urban Land Reform Act. P.D. 1517 gave people occupying urban lands at least 10 years the rights of
pre-emption and redemption with respect to properties they occupy. (1978) *

PD 1517
PD 892
PD 957
PD 1586
The process of defining the nature and diversity of buyers’ needs and wants in a market and further
classified in significant terms so that the organization can focus its business competencies on the
requirements of one or more specific groups of effective demand is referred to as: *

a. Market analysis
b. Demand analysis
c. Market segmentation
d. Location analysis

Established a fund to support DAR (1971) *

RA 7905
RA 8435
RA 6390
RA 8748

Discontinuing validity of Spanish titles (1976) *

PD 57
PD 892
PD 933
PD 1529

Property Registration Decree, enacted in June 11, 1978, is thesubsisting law governing registration of
titles. PD 1529 is an extensive decree consisting of 51 pages of detailed guidelines for the registration
of property. (1978) *

PD 957
PD 1529
PD 1096
PD 1586

Limits the type of lands that may be converted by setting conditions under which specific categories of
agricultural land are either absolutely non-negotiable for conversion or highly restricted for conversion.
(1997) *

PD 1529
RA 9397
EO 363
RA 1199

Standards for Socialized and Economic Housing. (1982) *

EO 192
BP 220
RA 7881
PD 1529
The following are typical fee arrangements that may be observed in the consulting practice, except: *

a. The straight or fixed fee

b. The contingent fee
c. The modified fixed fee
d. The performance fee

Re-organized the DENR. 91987) *

EO 192
EO 229
EO 228
EO 129-A

The consultant will usually give his location recommendations based on his analysis of the following
factors, except: *

a. Physical characteristics
b. Utility and zoning features
c. Economic factors
d. Political factors

The reasons for a location analysis are the following except: *

a. to find a site within a location upon which to place an economic enterprise

b. to make investment
c. to dispose of parcel of owned property at the highest price possible
d. to find location upon which to start an overlapping claim

An unlicensed person sold a property and try to collect commission from the sale of real property, which
agency has jurisdiction on the case? *

a. Securities and Exchange commission

b. Department of Human Settlement and Urban development
c. Philippine Regulatory Board of Real Estate Service
d. Regional Trial Court

Declared the entire country under land reform (1972) *

PD 2
PD 27
PD 933
PD 957

Initial efforts for land reform (1955) *

RA 1400
RA 3844
RA 4726
RA 6389
Real Installment Buyer Act “Maceda Law” (1972) *

RA 11231
RA 6552
RA 9397
RA 8748

Decreed the award to rice and corn tenants a farm of 5 hectares if notirrigated and 3 hectares if
irrigated. In all cases, the landowner was given the right to retain 7 hectares. (1972) *

PD 957
PD 27
PD 461
PD 933

Which of the following the market-driven business practice places at the center of attention in the
organization: *

a. the producer of product or service

b. the stockholder or owner
c. the customer
d. the lender

These refer to the weight load bearing walls, columns and beams, stairways, halls, elevators etc.,
including electrical, water and plumbing systems in a condominium project. *

a. Common area
b. Amenities
c. Utilities
d. Features

For a residential house and lot or condominium units up to how many co-borrowers will HDMF allow *

a. 2
b. 4
c. 3
d. None

The following are the debt watchers which determine the investment grade and credit rating of
countries, except ________. *
a. Pulse Asia
b. Moody’s
c. Standard and Poor’s
d. Fitch

A husband sold a conjugal property without consent of his wife, what is the status of the Deed of
Absolute Sale? *
a. Void
b. Valid and subsisting
c. Voidable
d. Unenforceable
Clients can benefit from the consultant’s following abilities, except to: *

a. Analyze property values and facilitate transactions

b. Evaluate property management performance
c. Conduct research and forecast investment outcomes
d. Guarantee a successful solution to a real estate problems or objectives

Amending C.A. 141 and P.D. 1529 – reduced to 20 years tenure required for free agricultural patent
(2021 *
RA 10149
RA 9003
RA 11573
RA 9275

National Building Code of the Philippines (1977) *

PD 461
PD 517
PD 1529
PD 1096

The second Public Land Act: increased homestead sizes to 24 hectares;sale of public domain by
bidding to individuals (144 ha.) and corporations (1024 ha.), andleases up to 1,024 ha. (1919) *

Act 4054
Act 2874
Act 4113
Act 926

REIT or Real Estate Investment Act is *

a. Republic Act 9658

b. Republic Act 9653
c. Republic Act 9856
d. Republic Act 9858

Which of the following refers to conflict of interest? *

a. A practitioner must not act for two or more parties in the same matter.
b. A practitioner must not act in a misleading or fraudulent manner.
c. A practitioner must not accept an assignment that includes the reporting of
predetermined opinions.
d. A practitioner must not claim professional qualifications that he or she does not
possess.

Agriculture and Fisheries Modernization Act. – to modernize agriculture and fisheries. (1997)0/1 *

RA 8748
RA 8974
RA 8435
RA 9700
An interest in real property consisting of separate interest in a unit in a residential, industrial or
commercial building and an undivided interest in common, directly or indirectly, in the land on which it is
located and in other common areas of the building *

a. Leasehold
b. Subdivision
c. Condominium
d. Single house and lot

Free Patent Act – titling of small parcels of public lands occupied at least 10 years. (2010) *

RA 8532
RA 11231
RA 10023
RA 8974

Identify the printed descriptive statement about a business or investment that is for sale, to invite the
interest or prospective investors. *

a. Prospectus
b. Open listing
c. Syllabus
d. Public offering

What is the basis of the valuation of real property for purpose of capital gains tax? *

a. Based on actual selling price

b. Based on market value in the tax declaration
c. Based on selling price, zonal value or schedule of values of the provincial or city
assessor, whichever is higher
d. Based on zonal value

The nature of the district, the labor supply, transportation facilities, the economics of bringing in raw
material and distributing finished products, the political climate, the availability of the utilities and
energy, and the effect of the environmental controls, are influences on land and building values in: *

a. an industrial district
b. a commercial district
c. a residential district
d. a resort area

In order to sort out the appropriate measures and risks involved in the investment analysis the following
tool inn consulting may be used to determine the likelihood that a proposed development twill fulfill the
(technical, market and financial) objectives of a particular client-investor. *

a. Market analysis
b. Highest and best use analysis
c. Economic analysis
d. Feasibility analysis or study
To the client’s decision-making process is, the most critical step is: *

a. to establish the client’s budget for the consulting engagement

b. to identify the stream of cash in the project
c. to determinate value of the property
d. to identify precisely the client’s goals or objectives