REM123 Assignment 2 - LEGAL REQUIREMENTS FOR REAL ESTATE SERVICE - MCQ

CLARESSA MARQUEZ-LEDESMA
2009301343
REM 123 Assignment 2 - LEGAL REQUIREMENTS FOR REAL ESTATE SERVICE - MCQ
Compose 10 MCQs from the Handout of Legal Requirements for Real Estate Service and submit with
answers & explanation.
1. What is the effectivity date of Republic Act No. 9646 regulating the practice of real estate
service in the Philippines?
a. July 30, 2008
b. June 29, 2009
c. July 30, 2009
d. June 30, 2008
Answer: c. July 30, 2009

Explanation: The effectivity date of Republic Act No. 9646 is July 30, 2009.
2. Which entity is responsible for creating the Professional Regulatory Board of Real Estate
Service (PRB-RES)?
a. AIPO
b. LGU
c. PRC
d. CHED
Answer: c. PRC
Explanation: The Professional Regulatory Board of Real Estate Service (PRB-RES) is created by
the Professional Regulation Commission (PRC).
3. How many members, including the chairperson, make up the Professional Regulatory Board
of Real Estate Service (PRB-RES)?
a. 2
b. 4
c. 5
d. 6
Answer: c. 5
Explanation: As mentioned in Section 4, the Professional Regulatory Board of Real Estate
Service (PRB-RES) consists of a chairperson and 4 members.
4. What does AIPO stand for in the context of real estate service?
a. Accredited and Integrated Professional Organization
b. Agency for International Property Ownership
c. Appraisal and Investment Property Organization
d. Association of Independent Property Owners
Answer: a. Accredited and Integrated Professional Organization

Explanation: AIPO stands for Accredited and Integrated Professional Organization.
5. How often must real estate service practitioners renew their Professional ID Card (PIC)?
a. Biennially
b. Annually
c. Quarterly
d. Every 3 years
Answer: d. Every 3 years

Explanation: Section 17 indicates that the Professional ID Card (PIC) is renewable every 3 years.
6. How often must corporations or partnerships engaged in real estate service register with
SEC and submit a list of licensed practitioners to PRC and SEC?
a. Biennially
b. Annually
c. Quarterly
d. Monthly
Answer: b. Annually
Explanation: According to Section 32, corporations or partnerships must register with SEC and
submit a list of licensed practitioners annually.
7. What is the penalty for violating the Real Estate Service Act, including violations of
implementing rules and regulations as per Section 39, if committed by a licensed
practitioner?
a. Fine of not less than P50,000.00 or imprisonment of not less than 1 year
b. Fine of not less than P100,000.00 or imprisonment of not less than 2 years or both
c. Imprisonment of not less than 2 years
d. Fine of not less than P100,000.00
Answer: b. Fine of not less than P100,000.00 or imprisonment of not less than 2 years or both
Explanation: Section 39 indicates that the penalty for a licensed practice is a fine of not less
than P100,000.00 or imprisonment of not less than 2 years or both.
8. Who conducts the licensure examination for real estate service practitioners?
a. PRB-RES
b. AIPO
c. PRC
d. CHED
Answer: a. PRB-RES
Explanation: The licensure examination is conducted by the Professional Regulatory Board of
Real Estate Service (PRB-RES).
9. Which of the following is one of the functions of the Professional Regulatory Board of Real
Eatate Service (PRB-RES) concerning real estate service practitioners?
a. Conducting advertising campaigns
b. Issuing building permits
c. Making comprehensive policy and guidelines for the promotion and development of real
estate industry
d. Managing financial transactions
Answer: c. Making comprehensive policy and guidelines for the promotion and development
of real estate industry
Explanation: Section 5 mentioned that one of the powers and functions of PRB-RES is to make
comprehensive policy and guidelines for the promotion and development of the real estate
industry.
10. No real estate salesperson, either directly or indirectly can negotiate, mediate or transact
any real estate transaction for and in behalf of a real estate broker without first:
a. Securing accreditation from the PRC

b. Securing accreditation from HLURB
c. Securing a license from PRC
d. Being registered with HLURB
Answer: a. Securing accreditation from the PRC

Explanation: Section 31 states that, No real estate salesperson, either directly or indirectly, can
negotiate, mediate or transact any real estate transaction for and in behalf of a real estate broker
without first securing an authorized accreditation as real estate salesperson for the real estate
broker, as prescribed by the Board.

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CLARESSA MARQUEZ-LEDESMA

Answer: c. July 30, 2009

Answer: a. Accredited and Integrated Professional Organization

Answer: d. Every 3 years

a. Securing accreditation from the PRC

Answer: a. Securing accreditation from the PRC

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