PAREBGENERALSANTOSSARANGANIREALESTATEBOARD,INC.

ComprehensiveRealEstateSeminar(CRES)ForRealEstateBrokers
November2015January2016
ModuleIMockExams

I.RESAR.A.9646andNATIONALCODEOFETHICS

1.RepublicActNo.9646isknownasthe:
a.RealEstatePracticeActofthePhilippines
b.
RealEstateServiceActofthePhilippines
c.ProfessionalRegulatoryBoardofRealEstateService
d.RealEstateServiceAssociationofthePhilippines

2. A holder of a relevant bachelors degree from a state university or college, or other

educational institution duly recognized by the CHED maybe qualified for real estate board
examinationprovidedthathehascompletedatleast:
a.
120creditunitsofrealestatesubjectsandtraining
b.60creditunitsofrealestatetraining
c.60creditunitsoffieldrealestatetraining
d.12unitsofrealestateseminar

3. The revocation or suspension of theCertificateofRegistrationandProfessionalIdentification

Card or Cancellation of Special or Temporary Permit of a real estate practitioner may begiven
bytheBoardonanyofthefollowinginstancesexcept:
a.
Whenchargedforestafabeforearegular
court
b.Unprofessionalorunethicalconduct
c.Procurementofacertificateofregistrationand/orprofessionalidentificationcardor

specialtemporarypermitbyfraudordeceit
d.MalpracticeorviolationofanyoftheprovisionsofR.A.9646,theIRRandthe

CodeofEthicsandResponsibilities

4.Norealestatebrokerorsalespersonshallengageinthesellingofsubdivisionlotsor
condominiumunitunless
a.HehasregisteredhimselfwithPRC
b.
HehasregisteredhimselfwiththeHLURB
.c.Hehasregisteredhimselfwith(HUDCC)HousingandUrbanDevelopmentCoordinating
Council
d.
a&b

5. It refers to the national integrated organization of a natural person duly registered and
licensedasrealestateservicepractitioner:
a.Integratedandaccreditedprofessionalassociation
b.Accreditedandintegratedprofessionalassociation
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c.
Accreditedandintegratedprofessionalorganization
d.Interimaccreditedprofessionalorganization

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6.IsthedateofeffectivityoftheRealestateServiceAct(RESA)underR.A.9646.
a.August30,2009
b.
July30,2009
c.June30,2008
d.July30,2008

7. Is the amount of professional indemnity insurance / cash or surety bond for all real estate
brokersandrealestateappraisers.
a.
P20,000.00
b.P40,000.00
c.P10,000.00
d.P5,000.00

8. Ms. Segurista, a licensed real estate broker was found guilty of violating R.A. 9646 for
employing and utilizing the services of Mr. Maagap, real estate salesperson who has not
secured the required accreditation from the Board. How much would be the fine/penalty or
imprisonmentofMs.Segurista?
a.P100,000.00fineornolessthan1yearimprisonmentorbothfineandimprisonment
b.P100,000.00fineornolessthan4yearsimprisonmentorboth
c.
P100,000.00fineornolessthan2yearsimprisonmentorbothfineandimprisonment

uponthediscretionofthecourt
d.P200,000.00fineornolessthan4yearsimprisonmentorbothfineandimprisonment

uponthediscretionofthecourt.

9.Mr.MaagapalsoviolatedtheIRR/RESA,hispenaltyshallbe:
a.
P200,000.00fineornolessthat4yearsimprisonmentorbothfineandimprisonment
uponthediscretionofthecourt.
b.P100,000.00fineornolessthan4yearsimprisonmentorbothfineandimprisonment
c.Imprisonmentof6yearsonly
d.DoublingtheP200,000.00fineonly.

10.Thefollowingaretherealestatepractitionersexcept:
a.
Realestatecommissioner
b.Realestatebroker
c.Realestateappraiser
d.Realestateconsultant
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11. A real estate practitioner who must be accredited by the Professional Regulatory Board of
RealEstateService.
a.
RealEstateSalesperson
b.RealEstateBroker
c.RealEstateAppraiser
d.RealEstateConsultant

12. What rating should an applicant obtain to pass the Real Estate Brokers Licensure
Examination?
a.
Anaverageofatleast75%inallsubjects,withnoratingbelow50%inanysubject.
b.Anaverageofatleast70%inallsubjects
c.Anaverageofatleast70%inallsubjects,withnoratingbelow65?\%inanysubject
d.Noneoftheabove
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13. When can the Board refuse registration to a sucessful examinee? If the successful
examineehasbeen:
a.Convictedbyacourtofcompetentjurisdictionofanycriminaloffenseinvolvingmoral

turpitude
b.FoundguiltyofimmoralordishonorableconductafterinvestigationoftheBoard
c.Foundtobepsychologicallyunfit
d.
Anyoftheabove

14. Under the corporate practice of the real estate service there shall be one licensed real
estatebrokerforevery_________accreditedrealestatesalesperson.
a.20
b.15
c.10
d.30

15. Refers to the real estate service practitioner who shall be entitled to receive or demand a
fee, commission or compensation of any kindfromanypersonforanyservicerenderedorwork
donebyasalespersoninanyrealestatetransaction.
a.Realestateconsultant
b.Realestateappraiser
c.Realestateassessor
d.
Realestatebroker

16. The composition of the Professional Regulatory Board of Real Estate Service, under the
supervision and administrative control of the Professional Regulation Commission (PRC) shall
be:
a.One(1)chairmanandthree(3)members
b.
One(1)chairmanandfour(4)members
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c.One(1)chairmanandfive(5)members
d.One(1)chairmanandtwo(2)members

17. Is authorized under the law to provide comprehensive policy guidelines for the promotion
anddevelopmentoftherealestateindustryinrelationtotheregulationofthepracticeofthereal
estateserviceprofession:
a.
ProfessionalRegulatoryBoardofRealEstateService
a.ProfessionalRegulationCommission
b.AccreditedandIntegratedProfessionalOrganization
c.PhillippineAssociationofRealEstateBoards

18. Goody Corporation hired the services of Happy Pers, a licensed Real Estate Broker on
commission basis to perform real estate services like finding a property theyliketobuyforGC.
SubjecttotheprovisionsoftheLaborCodewhatisHappyPersofthecorporation.
a.
Independentcontractor
b.EmployeeofGoodyCorporation
c.Botha&b
d.Noneoftheabove

19.Adulyregisteredandlicensednaturalpersonwho,foraprofessionalfee,compensationor
other valuable consideration, performs or renders, or offers to perform services in estimating
and arriving at an opinion of or acts as an expert on real estate values, such servicesofwhich
shallbefinallyrenderedbythepreparationofthereportinacceptablewrittenform.
a.Realestatebroker
b.
Realestateappraiser
c.Realestateconsultant
d.Realestatedealer

20. An applicant must have a minimum of how many years of experience as a licensed real
estateappraisertoqualifyforrealestateconsultantexamination?
a.10years
b.5years
c.15years
d.6years

21. The professional identification card shall be renewed every _______ years and upon
satisfyingtherequirementsoftheboardsuchas,butnotlimitedtoattendanceinthe:
a.3CEPprogram
b.
3CPDprogram
c.3CRESprogram
d.3CPEprogram

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22. The revocation or suspension of the Certificate of Registration and Professional

Identification Card or Cancellation of special or Temporary Permit of a real estate practitioner
maybe
givenbytheBoardonanyofthefollowinginstancesexcept:
a.
Whenchargedforestafabeforearegularcourt
b.Unprofessionalorunethicalconduct
c.Procurementofacertificateorregistrationand/orprofessionalidentificationcardor

specialortemporarypermitbyfraudordeceit
d.MalpracticeorviolationofanyoftheprovisionsofR.A.9646,theIRR,andtheCodeof
EthicsandResponsibilities

23.ThesymbolintheofficialsealofPRBRESthatrepresentsrealestate.
a.Structures
b.
Land
c.Houseandlot
d.Rawlands

24. The symbol in the official seal of Professional Regulatory BoardofRealEstateServicethat

represents the vital role of the real estate service practitioners in the social, political, economic
developmentandprogressofthePhilippines
a.Treesandfruits
b.Greenlines
c.Sunsandrays
d.
Risingsun

25.Representsethicalstandardsandprosperity.
a.
Gold
c.Treesandfruits
b.Sunsandrays
d.Greenlines

26.Whichofthefollowingactscanbeconsideredtobeunethicalforarealestatebroker?
a.Thebrokershouldcooperatewithotherbrokersonpropertylisted.
b.Thebrokershouldsharethecommissiononanagreedbasis.
c.Thebrokershouldseeknounfairadvantageoverhisfellowbrokers.
d.
Thebrokercanusetheservicesofthesalespersonoftheotherbrokersprovidedhepays
thesalespersonacommission.

27. Renewal of the Professional Identification Card of a real estate practitioner requires
completionofatleast____________forthreeyearsoreveryrenewalthereof.
a.
45creditunits
b.60creditunits
c.12creditunits
d.30creditunits

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28. The Real Estate Broker should indicate the license number of the certificate issued by the
ProfessionalRegulationinrelationtotherealtyservicepractice.Thisisunder:
a.
Relationtothegovernment
b.Relationtothepublic
c.Relationtotheclient/customer
d.Relationtothefellowpractitioners

29.TheGoldenrulereads:
a.Donotdountootherswhatyoudonotwantothersdountoyou.
b.Treatothersasyoulikethemnottotreatyou.
c.Donottreatothersasyoudonotlikethemtotreatyou.
d.
Dountoothersasyouwouldhavethemdountoyou

30.
An accredited real estate salesperson must be under the supervision of the real
estatebrokerandshouldindicate
a.
Nameandlicensednumberofthebroker
b.Emailaddressofthebroker
c.Thewebsiteofthebroker
d.HLURBnumberofthebroker

31.WhichisnotinthedeclarationofprinciplesintheCodeofEthics?
a.
Impartiality
b.Knowledge,competenceandexpertise
c.Goldenrule
d.Professionalandrespectfulrelationshipwithcolleagues

32.
Ms. Agnes Acosta, a real estate broker never in her real estate careerbecamea
party to the naming of a false consideration in a deed of instrument. Shealways seestoitthat
shefollowtherulesofconductandpractice,inthiscase,her
a.Relationtothegovernment
b.
Relationtothepublic
c.Relationtotheclients
d.Relationtothefellowpractitioners

33. Practitioner shall be deemedengagedinthepracticeofrealestateserviceprofessionwithin

themeaningandintentofR.A.9646anditrulesandregulationsifhe/she:
a.Maintainsaregularofficeforthepracticeoftheprofessionasaregisteredrealestate

serviceprofessional.
b.IndicatesthelicensenumberissuedbytheCommissionasindicatedintheCertificateof

Registration,professionalidentificationcardnumber,PTRnumber,thedayitwas

issuedandthevaliditythereofinthedocumentshe/shesignsorissues.

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c.Liveandcooperateinupholdingtheintegrityandhonoroftheprofessionatalltimesby
notdoingunethicalandunprofessionalconductandpracticesthatwilldiscreditand
injuretherealestateprofession.
d.Alloftheabove

34. An applicant must have a minimum of how many years of experience as a license real
estateappraisertoqualifyforarealestateconsultantexamination?
a.10years
b.5years
c.12years
d.13years

35.Whichamongthefollowingdoesnotbelongtotherealestateserviceprofession?
a.RealEstateAppraiser
b.RealEstateBroker
c.
RealEstateDeveloper
d.RealEstateSalesperson

36. Assuming that the RealEstateBroker(REB)isrenewinghisProfessionalIdentificationCard

everythreeyears,theCPDunitsarerequirementstorenewtheprofessionalID
a.
Every3years
b.Everyyear
c.Every5years
d.Every2years

37. When engaging the real estate brokerage practice, the real estate broker must obtain and
securea
a.LicensefromDTI
b.LicensefromPRBRES
c.
LicensefromPRC
d.LicensefromHLURB

38. In order that a candidate may be deemed to have successfully passed the examination,
he/she must have obtained _____________ in all subjects, with no rating below 50% in
______________.
a.
Anaverageofatleast75%anysubject
b.Anaverageofatleast75%anyonesubject
c.Anaverageofatleast75%allsubject
d.Anaverageofatleast75%almostallsubject

39. An applicant for real estate appraisers licensure examination musthaveatleast howmany
yearsofexperienceasalicensedrealestatebrokertoqualifyforthelicensureexamination?
a.
5years
c.9years
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b.7years
d.0year

40.Inordertobeadmitted tothelicensureexaminationforrealestateserviceacandidateatthe
time of filing his her application shall establish to the satisfaction of the Boardthathe/shehas
completed_____________ofrealestatesubjectsandtrainingfrom___________________.
a.
120creditunitsaccreditedserviceprovider
b.60creditunitsaccreditedserviceprovider
c.45creditunitsaccreditedserviceprovider
d.12creditunitsaccreditedserviceprovider

41.UnderR.A.9646,whoarethedulylicensedandregisteredrealestateservicepractitioners?
a.
RealEstateBroker,RealEstateAppraiser,RealEstateSalesperson,RealEstate

Consultant
b. Real Estate Broker, Real Estate Appraiser, Real Estate Consultant, Real Estate
Assessor
c.RealEstateSalesperson,RealEstateBroker,RealEstateConsultant,RealEstate

Appraiser,RealEstateAssessor
d. Real Estate Broker, Real Estate Salesperson, Real Estate Assessor, Real Estate
Appraiser

42.InR.A.9646,realestaterefersto______________________________.
a. Land and anything which are attached to the land withalladditionsorimprovementson,
a
boveorbelowtheground.
b.Landandanythingincludingitstangibleandphysicalentitywithalladditionsor

improvementson,aboveorbelowtheground.
c.
Land and anything which are attached to the land including its tangible and physical
entity
withalladditionsorimprovementson,aboveorbelowtheground.
d.Anythingwhichareattachedtothelandincludingitstangibleandphysicalentitywithall
additionsorimprovementson,aboveorbelowtheground.

43.UnderR.A.9646,thepenaltyimposedonviolationscommittedbyunlicensedindividualis:
a.P100,000or2yearsimprisonment
b.
P200,000or4yearsimprisonment
c.P100,000or4yearsimprisonment
d.P200,000or2yearsimprisonment

44. The Continuing Professional Development Program or activity accreditationmustbefiledto

theCPDCouncilatleast______________dayspriortotheconductthereof.
a.
Thirty(30)
b.Fifteen(15)
c.Twenty(20)
d.Fortyfive(45)

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45. An official of the local government unit, who performs appraisal and assessment of real
propertiesincludingplants,equipmentsandmachineriesessentiallyfortaxationpurposes.
a.AppraiserorValuer
b.
AssessororAssistantAssessor
c.CertifiedPublicValuer
d.Assessorsfieldinspector

II. FUNDAMENTALS OF PROPERTY OWNERSHIP & OTHER REAL ESTATE LAWS

(FAMILYCODE,AGRARIANREFORM,CARP/CARPER)

46. Providesthatthepropertyownersareboundtouseorutilize theirlandsinamannerthatwill

promote welfare and benefits not for themselves but also for the State. Also define as a
principle of ownership which mandates the property owners to use their propertiesinamanner
thatwillpromotepublicinterestforthegeneralwelfare.
a.
Stewardshipprinciple
b.ForeshoreLease
c.CertificateofLandOwnershipAward
d.RegalianDoctrine

47. Isanindependentandgeneralrightofthepersontocontrolapropertyorthingparticularlyin
his possession, disposition and recoverysubjecttonorestrictionsexceptthoseimposedbythe
Stateorprivatepersonorbythelaw.
a.
Ownership
b.Coownership
c.Solutioindebti
d.Soleownership

48. Is defined as any unknown deposit of money, jewelry andotherpreciousobjects, thelawful

ownership thereof is unknown. Itsownershipbelongstotheowneroftheland,buildingorother
propertyonwhichitisfound.
a.SequesteredTreasure
b.
HiddenTreasure
c.Timedeposits
d.Bundleofrights

49. One of the threeset jewelry collection seized from the Marcoses after the family fled to
Hawaii following the Edsa People Power Revolution in 1986 is a neckpiece from the
Rommeliotes collections described as an extremely rare pink diamond believed to be
previouslyownedbyaMogulEmperorandworthatleast:
a.
$5M
b.$10M
c.$20M
d.$235M
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50. The auction house Appraiser who is currently conducting an appraisal of the jewelry and
otherjewelrycollectionsseizedfromthefamilyofthelatedictator,FerdinandMarcosin1986.
a.
DavidWarren
b.Christies
c.Sothebys
d.CentralBankofthePhilippines

51. Is a doctrine whereby the owner or lawfulpossessorofthepropertyhastherighttoexclude

any person from the enjoyment and disposal thereof. And for his purpose may use force as
reasonably necessary to prevent actual or threatened unlawful physical invasion or usurpation
ofhisproperty.
a.AcionReinvindicatoria
c.RegalianDoctrine
b.
Doctrineofselfhelp

d.PersonalRight
Accionreivindicatoriaoracciondereivindicacion
i
s an action whereby one alleges ownership over aparceloflandandseeksrecoveryofitsfull
possession
RegalianDoctrine
under this concept, private title to land mustbetracedtosomegrant,expressorimplied,from
the Spanish Crown or its successors, the American Colonial Government, and thereafter, the
Philippine Republic. In abroad sense,thetermreferstoroyalrights,orthoserightstowhichthe
King has by virtue of his prerogatives. The theory of jure regalia was therefore nothing more
thananaturalfruitofconquest
RA386,Article429:DoctrineofSelfHelp
The owner or lawful possessor of a thing has the right to exclude any person from the
enjoyment and disposal thereof. For thispurpose,hemayusesuchforce asmaybereasonably
necessarytorepelorprevent anactualorthreatenedunlawfulphysicalinvasion orusurpationof
hisproperty.

52. Teria Fatima, found a hidden treasure inside the landofLarrieKing,Teriaisleasingfortwo

(2) years already. How will the treasure bedividedsinceTeriaFatimais onlythelesseeofthe
land?
a.
TeriaFatimaisentitledtoonlyonehalf(1/2)ofthehiddentreasurer.
b.TeriaFatimaisnotentitledtoanyshareofthetreasurebecausesheisnottheownerof

theland.
c.Nobodyisentitledtoanysharebecauseitisthestatestreasu
d.Noneoftheabove

53. Refers to the right of a land owner to everything which is produced by the land or which is
incorporated or attached thereto whether naturally of artificially. It isalsodefineastheincrease
oradditionoflandbythedepositoflandandsoilwashednaturallyfromrivers,lakeorsea.
a.Alluvium
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b.Accession
c.Accessiondiscreta
d.Accessioncontinua

54. Inrealestate,theincreaseoftheactual landon astream, lakeorseabytheactionofwater

whichdepositssoilupontheshoreline.
a.
Accretion
b.Accession
c.Avulsion
d.Replevin

55. Ms. Mahinhin will get married this year and will enter into a prenuptial agreement with
agreement on complete separation of property regime. What will be their property relations
aftermarriage?
a.Conjugalpropertyofgains
b.
Separationofproperty
c.Absolutecommunityofproperty
d.Coownership

56. When soil is deposited through the gradual deposit by the flowing ofariverintheproperty
alongtheriver,thedepositedsoiliscalled.
a.Avulsion
b.
Alluvium
c.Accretion
d.Riverbed
Avulsion the sudden separation of land from one property and its attachment to another,
especiallybyfloodingorachangeinthecourseofariver.
Alluvium a deposit of clay, silt, sand, and gravel left by flowing streams in a river valley or
delta,typicallyproducingfertilesoil.
Accretion the process of growth or increase, typically by the gradual accumulation of
additionallayersormatter
.

57.Anownerissaidtobeanownerinfeesimple,whichmeansthattheowner
a.Hasacertificateoftitle
b.
Hasthebundleofrights
c.Hastherightstoselltheproperty
d.Hasboughttheproperty

58. Juana, a natural born Filipino migrated to the United States and became an American
citizen but now wants to do business in the Philippines and acquire land in Bonifacio Global
City.WhatisthemaximumareathatJuanacanpurchase?
a.1,000squaremeters
b.3,000squaremeters
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c.5,000squaremeters
d.1hectare

59.Thesolepropertyofthehusbandiscalled:
a.Conjugalproperty
b.
Capitalproperty
c.Communityproperty
d.Separateproperty

60. The family code that now governs the property relations between married people after the
Newcivilcodebecameeffective.
a.August8,1993
b.August3,1998
c.
August3,1988
d.August8,1990

61. Mang Pepito occupied a parcel of agricultural land way back in 1952 under adverse and
continuous possession. Hemayacquiretitletothelandifhe wasingoodfaithifhehasbeenin
possessionforatleast:
a.10years
b.20years
c.25years
d.50years

62. Kenneth Ray West, an American, wanted to buy a piece of land in Taguig City and to be
able to do so he will have to form a corporation with a minimum Filipino ownership of the
outstandingcapitalstockofatleast:
a.60%
b.40%
c.50%
d.41%

63. A corporation engaged in the corn business wanted to expand its plantation of corn and
would like to lease more land from the government, but it can be done provided the maximum
areadoesnotexceed:
a.5hectares
b.500hectares
c.1,000hectares
d.5,000hectares

64. It is the mode or means of acquiring land title by adverse possession due to actual,open
continuousanduninterruptedpossessionforacertainperiodoftimeintheconceptofanowner.
a.
Byprescription
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b.Byinheritance
c.Byinvoluntarygrant
d.Bypublicgrant

65. Is that land that abutsoradjoinsapublicroador highwaywhichisblockingthelandbehind

dominant estate. It also refers to a parcel of land through which a right of way is granted in
favorofanadjoiningland.
a.Dominantestate
b.
Servientestate
c.Easement
d.Rightofway
Dominant estate
is the parcel of real property that has an easement over another piece of
property (the servient
estate
). The type of easement involved is almost always an appurtenant
easement
Servient estate

real property which has an easementorotheruseimposed uponitinfavorof
another property (called the "dominant estate"), such as right of way or use for access to an
adjoining property or utility lines. The property giving usage is the servient estate, and the
propertyholdingusageoftheeasementisthedominantestate.

66. Is a real right by virtue of which a person is giventherighttoenjoythepropertyofanother

with the obligation of preserving its form andsubstance,unless thetitleconstitutingitorthelaw
providesotherwise.
a.
Usufruct
b.CausionJuratoria
c.Rightofway
d.Donation
Usufruct
the right of one individual to use and enjoy the property of another, provided its
substanceisneitherimpairednoraltered.
For example, a
usufructuary right would be the right to use water from a stream in order to
generate electrical power. Such a right is distinguishable from a claim oflegalownershipofthe
wateritself.

67. Refers to thecompulsorysuccessionalrightsgranted bylawandthesamecannotbetaken

by anybody except when alienated during the lifetime of the Testator with consideration. The
rightsofsuccessionaretransmittedfromthemomentofthedecedentsdeath.
a.Inheritance
b.Succession
c.Legitime
d.Donation
Legitime That portion of a parent's estate of which hecannotdisinherithischildren,withouta
legal cause. The civil code of Louisiana declares that donations inter vivos or mortis causa
cannot exceed twothirds of the property ofthedisposerifheleavesathisdecease alegitimate
child one half if he leaves two children and onethird if he leaves three or a greater number.
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Under the name of children are included descendants of whatever degree theymaybeitmust
be understood that they are only counted for the child they represent. Civil. Code of Lo. art.
1480.

68.Zoningisanexerciseofthe_________________oftheState.
a.Eminentdomain
b.
Policepower
c.Publicgrant
d.Rightofway
Eminent domain the right of a government or its agent to expropriate private property for
publicuse,withpaymentofcompensation.
Police Power
the capacity of the states to regulate behavior and enforce order within their
territoryforthebettermentofthehealth,safety,morals,andgeneralwelfareoftheirinhabitants.

69.AFilipinocitizenmayacquirebypatentagriculturallandinthePhilippinesnotexceeding
____________________:
a.
12hectares
b.5hectares
c.3hectares
d.10hectares

70. It refers to the redistribution of lands, regardless of crops or fruitsproduced,to farmersand

regular farmworkers who are irrespective of tenurial arrangement, to include the totality of
factorsandsupportservicesdesignedtolifttheeconomicstatusofthebeneficiaries.
a.Agriculturallands
b.
AgrarianReform
c.CARPER
d.RA#9700

71. Is the act instituting a Comprehensive Agrarian Reform Program to promote social justice
andindustrialization.
a.R.A.9646
b.
R.A.6657
c.R.A.6567
d.R.A.6756

72.TheretentionlimitsoflandareaunderCARPforlandownershouldnotbemorethan
a.3hectares
b.12hectares
c.24hectares
d.5hectares

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73. The retention limits of land area under CARP for corporation on lease,managementpower
orservicecontractshouldnotbemorethan
a.500hectares
b.
1,000hectares
c.12,000hectares
d.24hectares

74. For foreign individuals on lease, management grower or service contract the land area
retentionlimitsshouldnotbemorethan:
a
.500hectares
b.1,000hectares
c.5hectares
d.24hectares

75. Under the Family code which too effective on August 3, 1988, a husband owning a capital
property and/or a wife owning paraphernal property may retain not more than 5 hectares each
provided:
a.
Theyexecutedajudicialseparationofpropertiespriortothemarriage.
b.Theyboughtthepropertyduringmarriage.
c.Thepropertiesaregiftsfromtheirprincipalsponsors.
d.Noneoftheabove.

76. Are awarded land under CARP transferable? Beneficiaries may not sell, transfer or convey
landsawardedforaperiodoftenyears,except:
a.Throughhereditarysuccession
b.TothegovernmentorLBP
c.Otherqualifiedbeneficiaries
d.
Anyoftheabove

77. Lands awarded to agricultural tenant under the CARP cannot be converted for
nonagriculturalusewithin____________fromthegrantoftheemancipationpatent.
a.10years
b.
5years
c.7years
d.15years

78. Lands in Metro Manila or national Capital Region are covered by the Urban Land Reform
Lawwhentheyarelocated:
a.
Within244areasforprioritydevelopment(APD)sites
b.Within422areasforprioritydevelopment(APD)sites
c.Within24areasforprioritydevelopment(APD)sites
d.Noneoftheabove

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79.TransferofawardedlandfromCARPisprohibitedforaperiodof_______.

a.5years
b.10years
c.1year
d.15years

80. Under the Urban Land Reform Law (PD 1517) an area is considered urban when it has a
population density of at least ___________________ per square kilometer and where at least
________%ofeconomicallyactiveresidentareengageinnonagriculturalactivities.
a.2,000residents50
b.1,000residents65
c.5,000residents50
d.500residents50

81. Act strengthening the CARP and extending the acquisitionanddistributionofallagricultural

lands,etc.
a.R.A.6657
b.
R.A.9700
c.R.A.9070
d.R.A.6576

82.Anyfarmer/tillerwhoownslessthat3hectaresofagriculturalland.
a.Landownerofagriculturalland
b.
Landlessbeneficiary
c.Regularfarmworker
d.Seasonalfarmworker

83.ThequalificationsofthelandownerchildrenunderCARPare:
a.Atleast15yearsold
b.Actuallytillingthelandordirectlymanagingthefarm
c.Havenotacquiredanylandownership
d.
Alloftheabove

84.Isthemaximumperiodthataforeignermayleasearealestate.
a.25years
b.50years
c.30years

d.10years

85. Is the reversion of private property totheStateduetotheintestatedeathoftheownerwho

isnotsurvivedbyanylegalheir.
a.
Escheat
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b.Eminentdomain
c.Inheritance
d.Donation

Escheat
is a common law doctrine which transfers thepropertyofapersonwhodieswithout
heirs to the crown or state. It serves to ensure that property is not left in "limbo" without
recognizedownership.

86. One acquires ownership and other real rights through the lapse of time in themannerand
undertheconditionslaiddownbylaw.
a.Byacceptanceofdonation
b.
Byprescription
c.Bysuccession
d.Byinheritance

87. A condensed history of the title, consisting of a various links in the chain of title, together
withastatementofallliens,chargesorencumbrancesaffectingaparticularproperty.
a.
Abstractoftitle
b.Accelerationclause
c.Titleannotations
d.Technicaldescriptions
Acceleration clause
is a term that fully matures the performance due from a party upon a
breach of the contract. Such clauses are most prevalent in mortgages and similar contracts to
purchaserealestateininstallments.

88. The rights of ownership whereby the owner has the right toenjoy,dispose,excludeothers
andtorecover.
a.Rightofway
b.
Bundleofrights
c.Cancellationrights
d.Righttofruits

89.Thepropertythatbelongsexclusivelytothewife.
a.
Paraphernalproperty
b.Capitalproperty
c.Inheritedproperty
d.Purchasedpropertyusingherexclusivefunds

90.Thepropertythatbelongsexclusivelytothehusband.
a.Paraphernalproperty
b.
Capitalproperty
c.Inheritedproperty
d.Propertypurchasedusinghisownfunds

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91. The grant of agricultural land to tenantfarmers in the implementation of the land reform
programofthegovernment.
a.
Emancipationpatent
b.Landpatent
c.Landtitle
d.Originalcertificateoftitle

Page14
92. Is an act whereby a person is permitted to control certain degree of the disposition of the
decedent estate, which shall take effect after the decedents death under the formalities
prescribedbylaw.
a.
Will
b.Inheritance
c.Succession
d.Donation

93.Therightofthegovernmenttoacquirepropertyfornecessarypublicorquasipublicuse.
a.
Eminentdomain
b.Escheat
c.Policepower
d.Estoppel

94.Absoluteownership.
a.
Feesimple

c.Torrenstitle
b.Originalcertificateoftitle
d.TCT

95.ForestryProfessionalActof2015:
a.
R.A.10690
c.R.A.10023
b.R.A.9653
d.R.A.7905

96. When a person speaks of the principle that all lands of the public domain belong to the
State,itisreferredtoas
a.Realestateownershipdoctrine
b.
Regaliandoctrine
c.Roponggiproperty
d.RealRight

97. Under R.A.9700 CARP Extension of 2009, all of the following are covered by agrarian
reformexceptone.
a.Agriculturallandsinthepublicdomainstillnotalienated/disposed
b.Farmsplantedtocashcropssuchassugar,tobacco,coconutpalm
c.
Socialjusticeandemancipationoffarmerfrombondagetothesoil
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d.Economicsize

98.Meansthatnopersonshallenrichhimselfattheexpenseofanother.
a.
SolutioIndebti
c.Juspossidendi
b.Successioncontinua
d.Jusvindicandi

99.Therightofownershiplimitationsthosegivenbythelaw:
a.
Legaleasementofwaters,legaleasementofrightofway
b.Policepower,poweroftaxation,powerofeminentdomain
c.Donorprohibitspartitionforacertainperiodoftime
d.Ownerscannotoccupythepropertyheleases

100.Righttoconsumeandalsototransformorabuse.
a.
Jusabutendi
c.Juspossedendi
b.Jusfruendi

d.Jusutendi

Page15

III.GOVERNMENTASSESSMENTPRINCIPLES,LOCALTAXATION

NATIONALTAXATIONBIRANDOTHERREALESTATELAWS

1. Is the inherent power of the State to impose and collect taxes for the purpose of defraying
governmentnecessaryexpensesforpublicneeds.
a.
Taxation
b.Taxes
c.Zoning
d.Policepower

2. Is a levy on real property determined on the basis of a fixed proportion of the value of the
property.
a.Incometax
b.
Advaloremtax
c.Realpropertytax
d.Valueaddedtax

3. Is the price at which a property may be sold by a Seller who is not compelled to sell and
boughtbyabuyerwhoisnotcompelledtobuy.
a.Sellingprice
b.Netsellingprice
c.
Fairmarketvalue
d.Assessedvalue

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4. _________________ is the value placed or applied on taxable property by the Assessor for
ad valorem tax purposes. Italsoreferstothefairmarketvalueoftherealpropertymultipliedby
theassessmentlevel.
a.Fairmarketvalue
b.Assessmentlevel
c.
Assessedvalue
d.Undervalue

5. The basis of real property taxation is the ________________ andnottheownershipthereof,

regardless of where located, whoever uses it and whether or not the owner is exempted from
taxes.
a.
Actualuse
b.Assessmentlevel
c.Assessedvalue
d.Owner

6. Pursuant to the Local Government Code (RA 7160), the LGUs in the provinces can impose
realpropertytaxesattherate:
a.
NotexceedingonePercent(1%)oftheassessedvalue(AV)oftherealproperty
b.Notexceedingtwo(2)percentoftheassessedvalue(AV)oftherealproperty
c.Notexceeding1&ahalf(1.5%)percentoftheassessedvalueoftherealproperty
d.Notexceedingtwo&ahalf(2.5%)percentoftheassessedvalueoftherealproperty

7. Is an annuallevyonrealestateequivalentto1%ofassessedvaluewhich shallbeinaddition
tothebasicrealestatetax.
a.
SpecialEducationFundTax
c.Realtytax
b.Advaloremtax
d.Documentarystamptax

8. A property owner who is not satisfied or does not agree with the Tax assessment of the
Assessor, may file an appeal or protest with the Local Board of Assessment Appeals within
______daysfromthereceiptthereof.
a.30
b.60
c.120
d.1year

AppealsProcess.
Treasurers level. After payment and ensuringthatthetaxreceiptswereannotatedbythe
treasurer with the words "paid under protest", taxpayer may file a protest to the treasurer in
writing within
30 days frompayment. Treasurershalldecideontheprotestwithin
60daysfrom
receipt.

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LBAA level.
Upon local treasurers denial of protest or failuretoactuponit,taxpayermay
still file a verified petition with the Local Board of Assessment Appeals (LBAA_ within 60 days
from such denial or receiptofthenoticeofassessmentfromthelocalassessor. Thelawdoes
not warrant filing of motion for reconsideration before the local assessor (Callanta v. Office of
theOmbudsman).TheLBAAshalldecidetheappealwithin
120days
fromreceipt.
CBAA level.
If taxpayers still feel dissatisfied andaggrievedwiththedecisionoftheLBAA,
the law provides another remedythe filing of appeal within
30 days from receipt of the
decision to the Central Board of Assessment Appeals (CBAA), which shall decide the case
within
12 months
from date of receipt. Saiddecisionshallbecomefinalandexecutoryafterthe
lapseof15daysfromthedatethecopyofthedecisionisreceivedbythetaxpayer.
CTA level.
In case of CBAAs adverse rulingoraction,taxpayermayelevatethematterto
theCourtofTaxAppeals(CTA).

9. ______________ is a tax imposed on the sale, donation, barter or any other mode of
transferringrealpropertyownershiportitle.
a.
Transferfee
b.Documentarystamptax
c.Capitalgainstax
d.Registrationfee

10.Theassessmentlevelofresidentiallandtobeappliedtothefairmarketvalueis
a.
20%
b.40%
c.60%
d.50%

11. The practice of appraising multiple properties as of a given date by the systematic and
uniformapplicationofappraisalmethodsandtechniques.
a.
Massappraisal
b.Independentappraisal
c.Massappraisalmodel
d.Assetsvaluation

12.Thefollowingpropertyifoneweretosellthesamewouldbeclassifiedasacapitalasset.
a.Officewarehouseofacorporation
b.Lotssoldbyadeveloper
c.
Vacationhouseoftheowner
d.Condominiumunitssoldtothepublic

13. Agricultural lands, more thanone(1)hectareinarea,suitableforcultivation,dairying,inland

fishery and other agricultural uses may be subject to idle land tax if it remains uncultivated or
unimprovedbytheownerorownertotheextentof
a.100%
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b.1/4oftheland
c.
1/2oftheland
d.60%oftheland

14. A parcel of land was assessed as commercial at a rate of 45% with fair market value of
P2,300,000.00,althoughthezonalvalueisP3,000,000.00.Whatwillbetheassessedvalue?
a.P1,150,000.00
b.P1,500,000.00
c.
P1,035,000.00
d.P1,350,000.00
Solution:P2,300,000x45%=P1,035,000

15. The assessment leveloftheimprovementsofapropertyownedbyMs.Limwillbebasedon

theclassificationand
a.Fairmarketvalueoftheimprovementoftheassessor
b.Assessedvalueoftheimprovementoftheassessor
c.Zonalvalueoftheimprovement
d.Declaredvaluebytheownerxtaxrate

16. Mr. Capistrano failed to pay his real estate tax due for twoyearsandhewillbesubjecttoa
penaltyequivalenttoatotalof
a.20%
c.24%
b.25%
d.36%

17. In localtaxation,realpropertyshallbeclassifiedforassessmentpurposesonthebasisofits
_________________ regardless of wherethe propertyislocated,whoeverownsitandwhoever
usesit.
a.Zoningclassification
b.
Actualuse
c.Actualusebythepersoninpossession
d.Landuseplan

18. The basic real property tax to be imposed by the Sangguniang Panlalawigan in a province
shallnotexceed
a.
1%oftheassessedvalue
b.1%ofthefairmarketvalueoftheassessor
c.2%oftheassessedvalue
d.2%ofthefairmarketvalueoftheassessor

19.Aspeciallevyisthespecialeducationfundtaxwhichshallbeatarateof
a.
Notexceeding1%oftheassessedvalue
b
.1%oftheassessedvalue
c.1%ofthefairmarketvalue
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d.Notexceeding1%ofthefairmarketvalue

20.Tocomputethebasicrealtytax,theownerwillusetheformula
a.Fairmarketvaluextaxrate
b.
Assessedvaluextaxrate
c.Assessmentlevelxtaxrate
d.Fairmarketvaluexassessmentlevels

21. Is the act or process of estimating the value ofapropertyasofaspecificdateforaspecific

purpose. It is an estimate of opinion of value, usually market value or value as defined by the
appraiser.
a.
Appraisal
b.Value
c.Thesis
d.Zonalvaluation

22.Theassessmentleveloftimberlandover2,000,000fairmarketvalueis:
a.
70%
c.65%
b.60%
d.55%

23. The real estate tax on the house and lot owned by Mr. & Mrs. Seguristas may be paid
withoutpenaltyin
a.
4quarterlyinstallments
b.Monthlypayments
c.2semiannualpayments
d.3payments

st
24. All assessments or reassessments made after the 1
day of January of anyyearshalltake
effecton
a.Aftertheapprovaloftherevisedassessmentsorreassessments
st
b.1
dayofJanuaryoftheyearitwasreassessed.
st
c.
1
dayofJanuaryofthesucceedingyear
d.30daysafterthereassessmentwasapproved
SEC. 221. Date of Effectivity of Assessment or Reassessment. All assessments or
reassessments made after the first (1st) day of January of anyyearshalltakeeffectonthefirst
(1st) day of January of the succeeding year: Provided, however, That thereassessmentofreal
property due to its partial or total destruction, or to a major change in its actual use, or to any
great and sudden inflation or deflation of real property values, or to the gross illegality of the
assessment when made or to any other abnormal cause, shallbemadewithinninety(90)days
from the date any such cause or causes occurred, and shall take effect at the beginningofthe
quarternextfollowingthereassessment.

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25. Elements of the assessment process that provides foundation of equity and uniformity in
realtytaxation.
a.
Assessmentlevel
b.
Classificationofrealproperty
c.Assessedvalue
d.Actualuseofproperty

26. Roger did not agreewiththeassessmentmadebytheassessor onhis property.Rogermay

appealthesamewithinwhatperiod?
a.30daysfromreceiptofnoticeofassessment
b.
60daysfromreceiptofnoticeofassessment
c.90daysfromreceiptofnoticeofassessment
d.120daysfromreceiptofnoticeofassessment

27. The localgovernmentshallcauseanoticeofdelinquencyandthereafterthepropertysoldat

publicauctionincaseof
a
.Unpaiddelinquentrealestatetaxes
b.Underdeclarationofvalue
c.Paymentunderprotest
d.Delinquentrealestatetaxesforatleast5years

28. Effective 2012, a real estate broker shall be subject to VAT if the total income for the year
exceeds
a.
1,919,500.00
b.3,199,200.00
c.2,500,000.00
d.1,500,000.00

29. In case of unpaid or delinquent taxes pursuant to the local government code, the local
government shall thereafter sell the property at public auction but with the right of theownerto
redeemthepropertywithin
a.6monthsfromdateofsale
b.
1yearfromdateofsale
c.2yearsfromdateofsale
d.1yearfromdateofannotationofauctionsale

30. In payment of estate tax, an allowed deduction to the gross estate of a decedent isfuneral
expensewhichis
a.
5%ofgrossestateorP200,000.00whicheverislower
b.5%ofgrossestateorP200,000.00whicheverishigher
c.10%ofgrossestateorP200,000.00whicheverislower
d.10%ofgrossestateorP200,000.00whicheverishigher

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31. A lot was sold located in Calapan City, Or. Mindoro, the owner who was residing abroad
wanted to pay the taxes on sale already although his local residence was in Manila and the
buyerinQuezonCity.Whereisthecapitalgainstaxonthesaletobepaid?
a.QuezonCity
b.
CalapanCity,Or.Mindoro
c.Manila
d.BIRHeadOffice

32. Mr. Edwin sold his lot on November 5. He had the sale notarized on Nov. 7. Up to when
shouldMr.Edwinpaythedocumentarystampstax?
a.
December5
b.December4
c.December10
d.December7

33. Agricultural lands, more thanone(1)hectareinarea,suitableforcultivation,dairying,inland

fishery and other agricultural uses may be subject to idle land tax if it remains uncultivated or
unimprovedbytheownerorownertotheextentof
a.100%
b.1/4oftheland
c.
1/2oftheland
d.60%oftheland

34. Persons who transfer ownership of their property to another have to notify the assessor
within
a.
60daysfromdateoftransfer
b.30daysfromdateoftransfer
c.90daysfromdateoftransfer
d.6monthsfromdateoftransfer

35.Inasaleofcondominiumunitthefollowinginformationweregathered:
ValueperDeedofSale..........................................P3,000,000.00
Zonalvalueofthecondominiumunit....................P22,500.00/sq.m.
Marketvalueofcondominiumunit........................
P1,500,000.00
Assessorvalueoflandwherethecondominium
Unitwasbuilt.........................................................
P2,500/sq.m.
Zonalvalueoflandwherecondominiumproject
Wasbuilt.................................................................
P5,000/sqm.
Floorareaofthecondominiumunitsold................
150sq.m.
Computeforthecapitalgainstaxontheabovetransaction.

a
.P202,500.00
c.P202,005.00
b.P253,125.00
d.P503,125.00
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Solution:
1. DetermingTaxBase
SellingPriceP3,000,000
ZonalValueP3,375,000(150sqmxP22,500)
MarketValueP1,500,000
2)ComputecapitalGainstax
P3,375,000x6%=P202,500

36.Computeforthedocumentarystamptaxontheabovetransaction(#35item).
a.P202,500.00
c.
P50,625.00
b.P51,625.00
d.P53,125.00
P3,375,000x1.5%=P50,625

37. An 800 sq.m. lot with a house was sold for P3,500,000.00 Per tax declaration, the fair
market value of the house is P1.5M and the lot is P1.6M. The zonal value of the lot is
P3,500.00persquaremeter.Thesaleissubjecttocapitalgaintax.Computethetaxbase.
a.P3,500,000.00
b.
P4,300,000.00
c.P3,100,000.00
d.P1,600,000.00
Solution:TaxBase
SellingPriceP3,500,000
FMVP1,500,000+P1,600,000=P3,100,000
Zonal=P3,500x800sqm+house=P2,800,000+P1,500,000=P4,300,000

38.Howmuchisthecapitalgaintax?
b.
P258,000.00
c.P250,000.00
c.P64,500.00
d.P322,200.00
Solution:CapitalGainsTax=P4,300,000x6%=P258,000

39.Howmuchisthedocumentarystamptax?
a.
P64,500.00
c.P65,400.00
b.P66,500.00
d.P56,400.00
Solution:DocumentaryStampTax=P4,300,000x1.5%=P64,500

40. A 70hectare agricultural land devoted to fishpond and with no zonal value was sold by a
broker at P120.00 per square meter asshowninthedeedofsale. Assessorsfairmarketvalue
for the lot per latest tax declaration is only P50.00 per square meter. Computethecapitalgain
tax?
a.
P5,250,000.00

c.P6,562,500.00
b.P2,550,000.00

d.P1,312,000.00
Solution:TaxBase700,000sqmxP120=P84,000,000
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CapitalGainsTaxP84,000,000x6%=P5,050,000

41. A deed of sale with mortgage was executed at the total price ofP2Millionofwhichthesum
of P600,000.00 was paid and the balance of P1,400,000.00 was secure by a mortgage on the
samepropertybythebuyer.ComputetheDocumentarystamptaxonsale.
a.
P9,000.00
c.P36,000.00
b.P45,000.00
d.P9,500.00
Solution:P600,000x1.5%=P9,000

42. The rate of creditable withholding tax inthesaleofrealpropertyclassifiedasordinaryasset

byanindividual,estate,trustorcorporationnothabituallyengagedinrealestatebusinessis:
a.Threepercent
c.Sevenpercent
b.Fivepercent
d.Noneoftheabove

43. The creditable withholding tax on the sale ofahouseandlotpackagebyadeveloperatthe

priceofTwoMillionPesosis:
a.1.5%
c.6%
b.3%
d.5%

44.Basedonnetgifts,themaximumrateofdonorstaxis:
a.Tenpercent
b.Fifteenpercent
c.Twentypercent
d.
Thirtypercent

45. After payment of capital gains and documentary stamp tax a ___________________ is
requiredfromtheBureauofInternalRevenuepriortotransferoftitle.
a.
CertificateAuthorizingRegistration
b.OfficialReceiptofCGTPayment
c.EndorsementtoROD
d.ComputationofTransferTax

46.Astandarddeductionof_________________ inadditionto deductionforfamilyhomewitha

fair market value not exceeding P1Million is allowed as additional deduction from gross estate
forestatetaxpurposesbeginningJanuary1996.
a.P500,000.00
b.
P1,000,000.00
c.P50,000.00
d.P350,000.00
1.Expenses,Losses,Indebtedness,andTaxes(ELIT)
a.FuneralexpensesLowestamong:
o
Actualfuneralexpenses
o
5%ofthegrossestateand
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P200,000.00.
b.Judicialexpensesofthetestamentaryandintestateproceedings
c.Claimsagainsttheestate
o
Atthetimetheindebtednesswasincurred,theinstrumentwasdulynotarizedand
o
If the loan was contracted within three (3) years before the death of the decedent, the
administrator or executor shall submit a statement showing the disposition of the proceeds of
theloan
d.Claimsofthedeceasedagainstinsolventpersons
e.Unpaidmortgages,etc.
1.PropertyPreviouslyTaxed(Vanishingdeduction)
2.TransfersforPublicUse
o
The amount of all bequests, legacies, devises or transfers to or for the use of the
Government of the Republic of the Philippines, or any political subdivision thereof, for
exclusivelypublicpurposes.
1.FamilyHome
o
FairMarketValueoftheFamilyHomeorP1million,whicheverislower.
o
As a condition for the exemption or deduction, said family home must have been the
decedentsfamilyhomeascertifiedbythebarangaycaptainofthelocality.
1.StandardDeductionP1million(nosubstantiationneeded)
1.MedicalExpenses
o
Medical expenses incurred by the decedent within one (1) year prior to his deathwhich
shallbedulysubstantiatedwithreceipts
o
Maximum:P500,000.00
1.
Amount received by heirs under RA 4917 (retirement benefits of employees of private
firms)
2.ShareintheConjugalProperty

47. Under the Revenue Memorandum Circular No. 198, a corporation is nowsubjecttocapital
gainstaxifitsoldrealestateclassifiedas_____________________.
a.Commercial
b.Industrial
c.Ordinary
d.C
apitalAsset

48. Every real estate dealer liable to pay EVATshallfileaquarterlyreturn ofhisgrosssales or

receiptswithin___________followingthecloseofeachtaxablequarter.
a.
25days
c.30days
b.15days
d.60days

49.Therateofwithholdingtaxforsocializedhousingis________________percent.
a.
Zero
c.Three
b.Five
d.Tw
o

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51. __________ is a tax imposed on gains presumed to have been realized by the seller from
the sale, exchange or other disposition of capital assets located in the Philippines, including
pactoderetrosalesandotherformsofconditionalsale.
a.
Capitalgainstax

c.Documentarystamptax
b.Incometax
d.Percentagetax

52.Paymentofcapitalgainstaxforcapitalassetsduedateis:
a
.30daysafterdateofdocument
th
b.5
dayofthefollowingmonth
c.Eitheraorb
d.Noneoftheabove

53.UndertheSocializedHousing(RMC No.362011)programhowmuchshouldbethepriceof
thelotinthecaseofsaleoflotsonly?
a.
40%ofP400k
b.50%ofP150k
c.40%ofP160k
d.60%ofP400k

54.Socializedhousinglimitis
a.P150,000.00
b.
P400,000.00
c.P450,000.00accordingtoHUDCCMC1Feb192014
d.P410,000.00

55. Donation to a stranger is subject to _______ tax based on Zonal Value or market value
whicheverishigher.
a.15%
c.20%
b.12%
d.30%

56. A tax on the right of the deceased person to transmit his estate to his lawful heirs and
beneficiaries.Itisnotataxonproperty.
a.
Estatetax
c.Incometax
b.Creditablewithholdingtax
d.Donorstax

57. With the promulgation of RA 8424 which is the Comprehensive Tax Reform Program of
1997 starting January 1, 1998, where the donee isarelative,thetaxisbasedon thegraduated
ratesof______to_____________ofnetgifts.
a.0%to15%

c.0%to30%
b.1%to10%
d.0%to0%

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58. Hope donated portion of her property to her niece worth P2,000,000.00 on January 30,
2002.Computethedonorstax.
a.
P124,000.00
c.P120,000.00
b.P104,000.00
d.
P110,000.00

Note: Donors tax is within the bracket of over 1,000,000 but notover3,000,000.00plus8%of
theexcessover1,000,000.00

59.Whatpropertiesareordinaryassets?

a.Propertiesconstitutinginventoriesforsale

b.propertiesusedinconnectionwithtrade.

c.Propertiesusedinconnectionwithbusinessorsourceofincome

d
.alloftheabove

60. Refers to the actual residence of the decedent and his family at the time of death. It
includesboththehouseandlotusedasthedwellingplace.

a
.Familyhome
c.Permanentresidence

b.Homefortheaged
d.Temporaryresidence

61.TheestatetaxreturnshallbefiledwiththeBIRwithin______daysfromdeathofdecedent.

a.90days
c.180days

b.60days
d.1year

62.Realestateservicepractitionersprofessionalfeesaresubjectto12%VATeffectivelast

a.
February1,2006
c.February1,2008

b.February1,2007
d.February1,2009

63. As provided for by R.A. 8424onTaxReformActof1997,thecapitalgainstaxis6%andan

exemption from it can be availed when the sellers proceeds from his principal residence sold
willbeusedtobuyaneworconstructaonewithin_________________.

a.One(1)year
c.18months

b.16months
d.1yearand8months

64. What document shall be executed in availing an exemption onthepaymentofcapitalgains

taxonthesaleofaprincipalresidence?

a.CapitalgainstaxBIRform

b.Promissorynote

c.Affidavitofnoimprovement

d
.Escrowagreement

65. The annual property tax on a parcel of land you are valuing is P7,500.00. The taxing
authority assesses land at 50 percent of market value. If the tax rate is 2% of the assessed
value,whatistheestimatedmarketvalueoftheland?

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a.P250,000.00
c.P750,000.00

b.P350,000.00
d.P550,000.00
Solution:AssessedValue:P7,500/2%=P375,000

MarketValue:P375,000/50%=P750,000

66. Under Republic Act 7160, how much is the share ofeach barangayfromthetotalproceeds
ofrealpropertytax(RPT).
a.25%forbarangaysinprovinces,and15%forbarangaysincitiesandinMetroManila
b.20%forbarangaysinprovinces,and10%forbarangaysincitiesandinMetroManila
c.30%forbarangaysinprovinces,and20%forbarangaysincitiesandinMetro
Manila
d.35%forbarangaysinprovinces,and25%forbarangaysincitiesandinMetroManila

67.TheretentionlimitunderCARPforthelandownerchildren:

a.Landareaofnotmorethanthree(3)hectaresperchild

b.Landareaofnotmorethan5hectares

c.Landareaofnotmorethan12hectares

d.landareaofnotmorethanone(1)hectare

68. A 500 sq.m. lot was bought by the owner at P2,200,000.00 and then was sold at a selling
price of P2,500,000.00. A check with the BIR, however, showed that the zonal value was
P6,000 per square meter and the fair market value of the city assessor valued the lot at
P2,300,000.00 while a real estateappraiserappraisedthelotatP2,800,000.00 whatwillbethe
basisofthecapitalgainstax?

a.P2,300,000.00
c.P2,800,000.00

b.P2,500,000.00
d.P3,000,000.00

Solution:

DetermineTaxBase

SellingPriceP2,500,000

ZonalValueP3,000,000(P6,000x500sqm)

AssessorsValueP2,300,000

69. Under the new BIR ruling, acquired assetsofbanksregardlessofamountare subjecttothe

creditablewithholdingtaxof:

a.3.0%
c.5.0%

b.6.0%
d.7.5%

70. In case of foreclosure sale where the rightofredemption isnotexercisedbythemortgagor,

whopaysthecapitalgainstax?

a.Ownermortgagor

b.Buyeroftheproperty

c.
Creditorbank

d.Redeemer
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71.Incaseofsocializedhousing,theceilingforthevalueofthelotaspertheBIRis

a.P400,000.00

b.P225,000.00

c.P160,000.00

d.P100,000.00

72.Inasaleofahouseandlot,thebasisofthetaxfortheimprovementsshallbebasedon:

a.BIRzonalvalue

b.Fairmarketvalueinthetaxdeclaration

c.Assessedvalueinthetaxdeclaration

d.Valuedeclaredasselling

73. When anownerrentedouthis realpropertyexceedingP12,800.00 permonthbuthisannual

rentalincomedidnotexceedP1,919,500.00whattaxisheobligatedtopaythegovernment.

a.WithholdingTaxof5%
c.Percentagetax

b.IncomeTax
d.TransferTax

III.OTHERREALESTATERELATEDLAWS:

74.Quarterlypaymentsofrealpropertytaxcanbepaidonthefollowingduedates:

a.March30,June30,September30andDecember31

b.
March31,June30,September30andDecember31

c.March31,June30,September30andDecember31

d.March30,June30,September30andDecember30

75.RealpropertytaxesdiscountifpaidonorbeforeJanuary31ofthecurrentyearis

a.20%
c.25%

b.15%
d.10%

76. What is the law that allow former natural born Filipino citizens to own land for residential
purposes?

a.BP185
c.PD27

b.RA8179
d.RA7160

77. The agency under the Department of Environment and Natural Resources (DENR),
responsible for administering, surveying and disposing alienable and disposable (A&D) lands
andothergovernmentlandsnotplacedunderthejurisdictionofothergovernmentagencies.

a.DENRRecordsDivision
c.LandsManagementBureau(LMB)

b.DARd.HLURB

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78. Under BIR Revenue Regulation 172003, the seller offamilyhomewhofailedtoutilizedthe

proceeds to acquire a new residence within 18 months from the sale be assessed additional
deficiencycapitalgainstaxinclusiveofpenaltiesand:
a.10%perannum
c.20%perannumRR172003

b.15%perannum
d.25%perannum

79.Anactempoweringtheagricultureandfisheriessectorstodevelopandsustainthemselves.

a.R.A.8435
c.R.A.9646

b.R.A.8325
d.R.A.6657

80.Urbanlandreform

a.R.A.1517
c.R.A.1751

b.R.A.5171
d.R.A.1175

81.Anactofdeterminingthevalueoftheproperty.

a.Assessmentlevel

c.Assessment

b.Fairmarketvaluing
d.Accounting

82.Assessmentlevelsforlandswithexistingbuildingofmixeduseswillbebasedonthe

a.Predominantactualuseofthebuilding

b.landasclassifiedinthezoning

c.bothaandb

d.noneoftheabove

83. Real property classified as agricultural or timberland assessment level is ___________ of

thefairmarketvalue.

a.20%
timberland
c.50%

b.40%agricultural
d.10%

84.AssessmentlevelonbuildingandotherresidentialstructuresoverP10,000,000is:

a.60%
c.0%

b.20%
d.30%

85. Assessment level of assessment for a special class of real property like hospital is only
___________.

a.15%
c.10%

b.20%
d.30%

86. A real estate broker sold a real estate property in the amount of P150,000,000 receiving a
commission of P7,500,000.00 which is equivalent to 5% of the selling price. Compute the VAT
ofthebroker.

a.P800,000.00
c.P450,000.00

b.P900,000.00

d.P350,000.00
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Solution:VAT=P7,500,000x12%=P900,000

87. Under Sec. 219 of RA 7160, this code requires the LGU concerned to conduct general
revision of property assessment every __________ thereafter from 1994 when the general
revisionwasfirstconductedafterthisCodewasenactedintolaw.

a.5years
c.3years

b.4years
d.2years

88. Maria Jose owns a residential parcel of land in Quezon City with a taxable value of
P1,800,000.00. She opted to pay her realty taxes on a quarterly basis. How much will be the
quarterlytaxdueofMaria.

a.P13,500.00

c.P9,000.00

b.P4,500.00d.noneoftheabove
Solution:RealPropertyTax=P1,800,000x3%=P54,000/4=P13,500

89. Gracia owned a residential house used for business and assessed as commercial . What
willbetheassessedvalueofthelandifthefairmarketvalueisP5,000.000.00?

a.
P2,250,000.00
c.P1,150,000.00
b.P2,000,000.00
d
.P1,000,000.00
Solution:
IfresidentialP5Mx20%=P1M
IfcommercialP5MxP50%P2.5M

90. A parcel of land was assessed as commercial at a rate of 50% with a fair market value of
P2,300,000.00althoughthezonalvalueisP3,000,000.00.Whatwillbetheassessedvalue?

a.P1,035,000.00
c.P1,000,000.00

b.P750,000.00
d.P1,150,000.00

Solution:P2,300,000x50%=P1,150,000

91.Thefollowingactshouldnotbedonebythebrokerandisunethical.

a.
Splitcommissionwithanunlicensedbroker

b.Sharecommissionasagreed

c.Agreetorevisecommissionsharing

d.Acceptthearrangementforreductionincommissionasagreed.

92. Under ___________ , _______________ of RESA, the Chairperson or any member of the
board may be suspended or removed by the President of the Philippines, upon the
recommendation of the Commission and afterduenoticeandhearinginaproperadministrative
investigationtobeconductedbytheCommission.

a.Section13,RuleIII

b.
Section9,RuleII

c.Section39,Rule5

d.Section7,RuleII
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93. If one participated in the undervaluation of the sale, the broker is deemed to have violated
hisrelationtothe

a.client

b.public

c.
government

d.organizationhebelong

94. A newly passed broker was dealing with a broker already 10 years in the profession. The
moreexperiencedrealestatebrokershould

a.
sharehisexperiencesonthetransaction

b.trytoputoneoverthenewbroker

c.usetheadvantageofhisexperienceoverthenewbroker

d.keepquietwhenaskedforadvicebythenewbroker

95. Broker Y hasacomplaintagainstBrokerPwhobelongtothe samerealestateorganization.

BrokerYmusttherefore

a.Filethecaseincourt

b.
Exhaustremedieswithintheirorganization

c.FileandadministrativecasewithPRC

d.Tellothermembersopenlyabouthiscomplaint

96. Spouses Ed and Susie are both real estate brokers. For 2012, Ed will earn P1,850,000.00
andSusiewillearnP2,000,000.00,howmuchwillbetheVATpaidbythespouses.

a.P385,000.00
c.
P462,000.00

b.
P240,000.00
d.P200,000.00
Solution:P1,850,000+P2,000,000x12%=P462,000

P1,850,000x3%+P2,000,000x12%=P295,500

P55,500+P240,000=P295,500

97. The share of an illegitimate child in their fathers estate is equivalent to the share of the
legitimacyofthelegitimatechildintheshareof

a.Equalshare
c.Onethirdshare

b.Onehalfshare
d.Noshare

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98. The maximum amount of foreign ownership of a trading corporation which intends to buy
landshallbe

a.30%
b.40%
c.50%
d.60%

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99. Land occupied possessed and utilized by individuals, families, andclanswhoaremembers

ofIndigenousPeoples:

a.Indigenouslands
c.NativeLands

b.Ancestrallands
d.Noneoftheabove

100. If a person died leaving a will,whatisthespecialcourtproceedingsthatmust beinstituted

todeterminethevalidityofthetestamentarydispositionofthedeceased?

a.Probateproceedings

b.Petitionforpartitionofproperty

c.Reconstructionoflandtitle

d.Petitiontoquiettitle

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