Professional Practice 50%

1. 2017-2022 Housing units needed according to DHSUD statistics is

a. 4.5M b. 5.5M
c. 6.5M d. 7.5M

2. The housing gap would increase significantly if we do not formulate strategies to strengthen housing
production by 2040.
a. 6.5M units b. 22M units
c. 10M units d. 32M units

3. Refers to the plan, including its amendments, of the REIT registered with and approved by the
Securities and Exchange Commission.
a. People Plan b. Merger Plan
c. REIT Plan d. SEC Plan

4. Revised Corporation Code of the Philippines.

a. RA 11232 b. RA 11332
c. RA 11323 d. RA 11907

5. How much of the distributable income of a REIT should be given as annual dividends to its
stockholders?
(a) 70% (b) 80% (c) 90% (d) 95%

6. What is the minimum number of shares that all public stockholders of a REIT should hold?
(a) 1 (b) 20 (c) 50 (d) 100

7. What is the minimum number of public stockholders that a REIT should have?
(a) 500 (b) 1,000 (c) 1,500 (d) 2,000

8. What is the ceiling of executive compensation that should be given as annual pay of all directors and
principal officers of a REIT in relation?
(a) 10% of the net income before tax
(b) 15% of the net income before tax
(c) 1% of the gross income
(d) 2% of the gross income

9. What is the ceiling of fees that should be paid to fund and property managers of a REIT?
(a) 1% of the net asset value of assets under their management
(b) 3% of the net asset value of assets under their management
(c) 1% of the gross income
(d) 2% of the gross income

10. What is the limit of investments of income generating real estate outside of the Philippines that a
REIT can undertake in relation to its deposited property?
(a) Not more than 30%
(b) Not more than 40%
(c) Not more than 50%
(d) Not more than 60%

11. A REIT has a governing board composed of 11 directors. How many of these 11 directors should
be independent?
(a) 1
(b) 2
(c) 3
(d) 4

12. What is the minimum paid up capital of a REIT?

(a) P100-million
(b) P200-million
(c) P300-million
(d) P400-million

13. By how much of the deposited property of a REIT should be invested in income generating real
estate?
(a) 65%
(b) 70%
(c) 75%
(d) 80%

14. What is the minimum number of years of good track record from date of acquisition that a real
estate should be considered as an allowable investment of a REIT?
(a) 3 (b) 4 (c) 5 (d) 6

15. Synthetic investment products are derivatives and other securities created exclusively out of one or
more financial instruments to simulate the returns of the underlying assets or indices. By how much of
the investible funds should be allocated by a REIT on these synthetic investment products?
(a) Not more than 1%
(b) Not more than 3%
(c) Not more than 5%
(d) Not more than 7%

16. Every registered and licensed real estate service practitioner shall establish and maintain a
principal place of business and such other branch offices as may be necessary, and shall
conspicuously display therein ______ of his/her certificate of registration and professional identification
card as well as the certificates of registration and professional identification cards of all the real estate
service practitioners employed in such office.
a. the original and/or certified true copies only
b. the original copies only
c. certified true copies only
d. photocopies only

17. It is the power of the board not to register and issue a certificate of registration to any successful
examinee if
a. Found to be psychologically unfit
b. Charged with the crime of murder
c. Convicted of the traffic violation
d. Being investigated of the immoral conduct

18. For renewal of professional identification card of real estate consultant, it is required that the
practitioner must:
a. Post a bond for P20,000
b. Be under a real estate broker
c. Be a member in good standing of the AIPO
d. Be a member in good standing of his/her association

19. Reyes, REA wanted to sell condo projects as a real estate salesperson, she must register with
DHSUD and post a bond in the amount of:
a. P 1,000.00
b. P 2,000.00
c. P 5,000.00
d. P 20,000.00

20. The expiry of the registration with DHSUD of a real estate broker expires every
a. December 31 of the year
b. 3 years
c. On the birthdate of the real estate broker
d. Every 2 years

21. If as real estate salesperson was found guilty of violation of the RESA without a license and
may be: imposed the penalty of:
a. At least P 100,000.00 fine
b. At least P 200,000.00 fine
c. At least 2 years of imprisonment
d. At least P 100,000.00 fine and 2-year imprisonment

22. In the PRBRES logo, the color blue represents the color of
a. Professionalism
b. Real estate service industry
c. Service
d. Ethical practice

23. As the AIPO, the accredited and integrated professional organization approved by the PRC last
2011 is called:
a. REBAP
b. PAREB
c. Philippine institute of real estate service practitioners
d. Philippine institute of real estate professionals

24. The various regulatory boards under the PRC are grouped into an association referred to as the
a. PAPRB
b. PARBR
c. PABRES
d. PRBRES

25. Real Estate Brokers Association of the Philippines, Inc. (REBAP) has around 1,200 active
members spread in 27 chapters in the country. PAREB means
A. Philippine Association of Real Estate Board
B. Professional Association of Real Estate Brokers
C. Philippine Association of Real Estate Brokerage
D. Philippine Association of Real Estate Brokers Association

26. As of December 2012, the total number of real estate service practitioners approved for
registration without examination and those who passed the brokers exams in 2011-2015 is estimated at
a. More than 16,000
b. More than 20,000
c. More than 10,000
d. More than 35,000

27. Prior to the professional regulation commission, the same was referred to as
a. Office of the board examiners
b. Professional regulation authority
c. Professional board of examiners
d. Office of the professional board of examiners

28. The real estate service profession was welcomed by the PRC as an added profession on
a. 2009
b. 2008
c. 2010
d. 2011

29. There are four sectors categorized under the PRC for the various professions, which one is not
a sector
a. Medical and health
b. Business, education and management
c. Engineering
d. Vocational technology

30. The real estate service practice is classified under the PRC as belonging to this sector
a. Real estate sector
b. Business, education and management sector
c. Technology sector
d. Business and services sector

31. The term of office of the commissioners of the professional regulation shall be
a. 2 years
b. 3 years
c. 5 years
d. 7 years

32. Under the PRC law, a practicing professional is defined to be person whose
a. Passed the license examinations
b. Name is entered in the PRC registry book
c. Name and license are entered in the PRC registry book
d. Paid the fees for professional license

33. The real estate broker, aside from the license, is required to pay yearly professional tax which is
due for payment every year on or before
a. January 20
b. January 31
c. February 28
d. April 15
34. A community tax must be paid by the real estate broker to the treasurer of the local government
which should not be later than
a. January 31
b. February 28
c. Last day of January
d. Last day of February

35. The first professional summit was held by the PAPRB in cooperation with the PRC in Manila
Hotel last
a. October 2011
b. October 2012
c. December 2011
d. December 2012

36. Judgment or decision of the professional regulation commission becomes final and executory
within a period of
a. 10 days from receipt of judgment
b. 15 days from receipt of judgment
c. 15 days from date of decision
d. 30 days from receipt of decision

37. President Noynoy Aquino has declared the “Philippine Professional Competitiveness Week”
every year during the period
a. 2nd week of October
b. 2nd week of December
c. 3rd week of October
d. 3rd week of December

38. The Professional Regulation Commission is happy to announce the holding of the first ever
Professional Summit with a theme
a. “Convergence of Professionals for Nation Building and Global Competitiveness”
b. “Celebrating a Decade of Service Excellence: Reimagining Professionals Leadership in the
Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) World”
c. “Library as a Place: Continual Learning in the New Information Landscape”
d. “The New Millennium”

39. JMV Corporation developed a subdivision and was selling lots in the amount of P 2,800,000.00
contract price. The sale shall be subject to a creditable withholding tax rate of:
a. 1.5%
b. 6.0%
c. 5.0%
d. 3.0%

40. VG Corporation developed a subdivision and was selling lots in the amount of P 1,800,000.00
contract price. The sale shall be subject to a creditable withholding tax rate of
a. 1.5%
b. 6.0%
c. 5.0%
d. 3.0%

41. VG Corporation developed a subdivision and was selling lots in the amount of P 480,000.00
contract price. The sale shall be subject to a creditable withholding tax rate of
a. 1.5%
b. 6.0%
c. 5.0%
d. 3.0%

42. Where the seller/transferor is not habitually engaged in the real estate business (but the real
estate sold is an ordinary asset) shall pay:
a. Capital Gains tax of 6%
b. Creditable Withholding Tax of 5.0%
c. Creditable Withholding Tax of 3.0%
d. Creditable Withholding Tax of 6.0%

43. In pursuant to BIR revenue regulation, sale of foreclosed properties by banks is subject to
________.
a. Capital Gains tax of 6% instead
b. Creditable Withholding Tax of 5.0%
c. Creditable Withholding Tax of 3.0%
d. Creditable Withholding Tax of 6.0%

44. Creditable withholding taxes deducted and withheld by the withholding agent/buyer on the sale,
transfer or exchange of real property classified as ordinary asset, shall be paid by the withholding
agent/buyer upon filing of the return with the Authorized Agent Bank (AAB) located within the Revenue
District Office (RDO) having jurisdiction over the place where the property being transferred is located
within ____ days following the end of the month in which the transaction occurred.
a. 10
b. 5
c. 15
d. 30

45. The taxation on ownership of real estate property by a person is governed by

a. National Internal Revenue Code of 1997
b. Local Government Code of 1991
c. National Internal Revenue Code
d. Bureau of Internal Revenue Regulations

46. A parcel of land was sold at P 5,000,000.00 but the BIR Zonal Value was P 4,800,000.00 while
the local assessor’s fair market value is P 2,500,000.00 and it was appraised at P 5,500,000.00. What
will be the basis of capital gains tax if sold?
a. Selling Price
b. Zonal Value
c. Assessor’s value
d. Appraised fair market value

47. In a sale of a house and lot, the basis of the tax for the improvements shall be based on
a. BIR Zonal value
b. Fair market value in the tax declaration
c. Assessed value in the tax declaration
d. Selling Price

48. The Capital Gains Tax Return (BIR Form No. 1706) shall be filed and paid within ____ days
following the sale, exchange or disposition of real property, with any Authorized Agent Bank (AAB) or
Revenue Collection Officer (RCO) of the Revenue District Office (RDO) having jurisdiction over the place
where the property being transferred is located.
a. 10
b. 5
c. 15
d. 30

49. The tax paid to BIR on a sale of a condo unit used as residence by the owner is also considered
a. Final tax
b. Withholding tax
c. Prepaid income tax
d. Transfer tax

50. The broker was to pay the taxes on the sale to the BIR but missed the due date on account of
sickness. How much will be the penalty surcharge?
a. 15%
b. 20%
c. 25%
d. 50%

51. A buyer can get the value of the improvements of the house in Quezon City being sold, which
may be found in the
a. Bureau of Internal Revenue
b. City Assessor’s office
c. Land Registration Authority
d. City Engineer’s Office
52. A lot was sold located in Batangas City, the owner who was residing abroad wanted to pay the taxes on
sale already although his local residence was in Manila and the buyer in Taguig. Where is the capital gains tax
on the sale to be paid?
a. Taguig
b. Manila
c. Batangas City
d. BIR Head Office

53. How much will be the surcharge for the late payment of capital gains tax on the sale of a house and lot
in the amount of P 3,000,000.00?
a. P 36,000.00
b. P 45,000.00
c. P 60,000.00
d. P 180,000.00

54. The creditable withholding tax for the sale of a lot by a developer is also referred to as
a. Capital gains tax
b. Final tax
c. Prepaid income tax
d. Advance withholding tax

55. The following does not have a BIR zonal value:

a. Condominium unit
b. Agricultural land
c. Condominium parking space
d. Building improvements

56. In case of socialized housing, the ceiling for the value of the lot to be sold in 2015 as per the BIR is
a. P 450,000.00
b. P 400,000.00
c. P 180,000.00
d. P 160,000.00

57. Mr. Trogon rented a house which he was also using as his office (as his business). What will be the
withholding tax on the rent he has to deduct?
a. 3%
b. 5%
c. 10%
d. 12%

58. If the tax declaration of a house and lot in a city is more than 3 years old, the seller must get a certification
it is still the latest from
a. Bureau of Internal Revenue
b. City Assessor’s Office
c. BIR Zonal Valuation Department of the City
d. City Treasurer

59. How much will be the documentary stamps tax to be paid in case a foreclosed property is redeemed by
the owner within the period of redemption
a. 1.5%
b. P 15.00
c. P 15.00 for every P1,000 or fraction thereof
d. 1.5% of the selling price or zonal value whichever is higher

60. The right of redemption already lapsed last January 6 and the winning bidder must pay the capital gains
tax within what period
a. 30 days from date of auction sale
b. 30 days from expiration of redemption period
c. 30 days from the month of expiration of redemption period
d. 30 days from notarization of auction sale

61. Before the TRAIN Law, Ms. Rica, a real estate broker, already earned P 800,000.00 in commissions for
the first two months. Thereafter, the withholding tax of Mr. Rica should be
A. 5%
B. 8%
C. 10%
D. 15%

62. A manufacturing corporation owns a parcel of vacant lot in a residential subdivision as the price was very
low and attractive. When sold, the corporation shall be subject to the tax rate on the sale of
a. 1.5%
b. 3.0%
c. 5.0%
d. 6.0%

63. The amount of exempted capital gains tax in the sale of principal residence shall be
a. Held by the taxpayer until new residence is bought
b. Deposited in the amount of the seller
c. Put in escrow
d. A tax credit for the seller

64. Effective January 01, 2012, the ceiling for exemption from VAT of the sale of a residential lot has been
increased to
a. P 3,200,000.00
b. P 2,500,000.00
c. P 1,919,500.00
d. P 3,199,200.00

65. In local taxation, real property shall be classified for assessment purposes on the basis of its
a. Zoning classification
b. Actual use by owner
c. Actual use by the person in possession
d. Land use plan

66. A special levy the special education fund tax which shall be at a rate of
a. Not exceeding 1% of the assessed value
b. 1% of the assessed value
c. 1% of the fair market value
d. Not exceeding 1% of the fair market value

67. The government may impose a tax on lands not fully utilized or the idle land tax not exceeding
a. 2% of the assessed value
b. 3% of the assessed values
c. 5% of the assessed value
d. 5% of the fair market value

68. Mr. Parco failed to pay his real estate tax due on time and he will be subject to a penalty equivalent to
a. 1% per month
b. 2% per month
c. 5% per month
d. 20% per month

69. In order for the local government to impose and implement the tax due for real estate taxes for the city,
it must be through
a. Executive order of the mayor
b. Approved local tax ordinance
c. Memorandum of the city council
d. Resolution of the sangguniang panlungsod

70. Agricultural lands more than one (1) hectare area suitable for cultivation, dairying, inland fishery, and
other agricultural uses may be subject to idle land tax if it and cultivated or an improved by the owner or owners
to the extent of
a. 100%
b. 1/4 of the land
c. 1/2 of the land
d. 60% of the land

71. Agricultural lands planted to permanent or perennial crops with at least ___ trees to a hectare shall not be
considered idle lands. Lands actually used for grazing purposes shall likewise not be considered idle lands.
a. 500
b. 100
c. 1000
d. 50

72. A parcel of land was assessed as mineral which a fair market value of P 5,300,000.00 although the zonal
value is P 4,100,000.00. What will be the maximum assessed value?
a. P 2,050,000.00
b. P 820,000.00
c. P 1,060,000.00
d. P 2,650,000.00

73. The assessment level of the improvements of the property by Ms. Chururut will be based on the
classification and
a. Fair market value of the improvement of the assessor
b. Assessed value of the improvement of the assessor
c. Zonal value of the improvement
d. Declared the value of the by the owner x tax rate

74. The City of Manila may provide a discount for early payment of the annual tax in the discount amount not
exceeding
a. 5%
b. 10%
c. 20%
d. 24%

75. The real estate tax in the house and lot owned by Miss Millie may be paid without penalty interest in
a. 2 semi-annual payment
b. 4 payments
c. 4 equal quarterly payments
d. monthly payments

76. However, new taxes, fees or charges, or changes in the rates thereof, shall accrue on
a. the first (1st) day of the quarter next following the effectivity of the ordinance imposing such new levies
or rates
b. On the 1st day of January
c. Upon notice of assessment
d. Every beginning of the quarter of the year

77. The idle land tax does not apply to the following property
a. Uncultivated agricultural land of 3 hectares
b. Raw land of unimproved 5,000 square meters
c. Land with unfavorable physical factors
d. 2 hectares of land suitable for farming 1/2 of which is unimproved

78. A special levy may be imposed for lands specially benefited by public works projects or improvements
funded by the local government unit: provided, the special levy shall not exceed
a. 5% of the assessed value
b. 60% of the actual cost of the projects
c. 50% of the actual costs of the projects and improvements
d. 2% of the assessed value

79. The Local Board of Assessment Appeals in the city shall be headed by Chairman who shall be
a. City Assessor
b. Registrar of Deeds of the City
c. City Prosecutor
d. City Mayor

80. The Local Board of Assessment Appeals in the city shall have members, who shall serve as such in an
ex officio capacity without additional compensation represented by:
a. City Assessor and City Mayor
b. Registrar of Deeds of the City and City Mayor
c. City Prosecutor and City Engineer
d. City Mayor and City Treasurer

81. Ivana Alawi did not agree to the assessment made by the assessor on his property. Rodger may appeal
the same within what period
a. 30 days from receipt of notice of assessment
b. 60 days from receipt of notice of assessment
c. 90 days from receipt of notice
d. 45 days from receipt of notice

82. In case an unfavorable decision by the Local Board of Assessment Appeals, the same may be appealed
to the CBAA within
a. 30 days from receipt of decision
b. 60 days from receipt of decision
c. 90 days from receipt of decision
d. 120 days from receipt of decision

83. Persons who transfer ownership their property to another have to notify the assessor within what period
a. 30 days from date of transfer
b. 60 days from date of transfer
c. 90 days from date of transfer
d. 6 months from date of transfer

84. In case of payment of real estate taxes under protest, the first thing the taxpayer must do is to
a. Pay the real estate tax
b. File a letter of protest
c. File an appeal with the Local Board of Assessment Appeals
d. Request for a reassessment from the assessor

85. The following may condone real estate taxes in whole or in part
a. Provincial Assessor
b. City Mayor
c. City Treasurer
d. President of the Philippines

86. The notice of delinquency shall also be published once a week for ___ weeks, in a newspaper of general
circulation in the province, city, or municipality.
a. two (2) consecutive
b. two (2)
c. three (3) consecutive
d. three (3)

87. In case of all assessments and assessment made after January 1 of any year the same shall take effect
a. Upon publication in a newspaper of general circulation
b. Upon approval
c. On January 1 of the next year
d. 90 days after the reassessment

88. The sworn declaration of real property herein referred to shall be filed with the assessor concerned once
every __ years during the period from January first (1st) to June thirtieth (30th) commencing with the calendar
year 1992.
a. 4 years
b. 2 years
c. 3 years
d. Upon general revision

89. The special education fund tax collected by the municipality shall be allocated to the:
a. General fund of the province
b. Local School Boards
c. National education school fund
d. Education fund of the city

90. The assessment level of your property may also be found in the:
a. Tax declaration of the property
b. Schedule of fair market values of assessor
c. Local Government Code of 1991
d. Official receipt of payment of transfer tax

91. The legal basis of 20% assessment level of Mr. Massimo’s house:
a. Tax declaration of the property
b. Schedule of fair market values of assessor
c. RA 7160
d. RA 8424

92. Tacloban City imposed a new tax rate for the basic real property tax for property owners, which however
may not exceed:
a. 1% of the assessed value
b. 2% of the fair market value
c. 2% of the assessed value
d. 1% of the fair market value

93. The creation of Local Board of Assessment Appeals in every local government unit is provided under
Section 226 of the Local Government Code. Which one is not a member?
a. Registrar of Deeds of the City
b. City Prosecutor
c. City Engineer
d. City Assessor

94. In case of auction sale of real property due to delinquent real estate taxes, the owner may redeem the
real property sold provided there shall be a payment of interest at the rate of
a. 1% per month
b. 2% per month
c. 20% per annum
d. 12% per annum

95. Mange Tomas will declare real property for the first time and shall be assessed for taxes for the period
during which it would have been liable but in no case for more than
a. 2 years
b. 5 years
c. 10 years
d. 20 years
96. 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 the owner to redeem the property within
a. 6 months from the date of sale
b. 1 year from the date of sale
c. 2 years from the date of sale
d. 1 year from the date of annotation of auction sale

97. The real estate taxes for socialized housing shall be imposed on land with an assessed value of more
than
a. P 50,000.00
b. P100,000.00
c. P200,000.00
d. P500,000.00

98. The Quezon City local government imposed starting January 2012 a socialized housing tax in the amount
of ne-half percent (0.5%) tax on properties (land) with an assessed value amounting to more than
a. P 50,000.00
b. P100,000.00
c. P200,000.00
d. P500,000.00

99. The owner failed to pay his basic real estate tax of P10,000 in 2006 and P 5,000 SEF. How much will
be the total interest to be paid for the unpaid basic real property tax for the 5 years’ delinquency?
a. P 12,000.00
b. P 7,200.00
c. P 10,000.00
d. P 10,800.00

100. A change in actual use of property reported to the assessor shall take effect beginning
a. The next month after reassessment
b. The next quarter after reassessment
c. Immediately upon reassessment
d. 90 days after reassessment

101. The assessor is mandated to undertake a general revision of real property assessments every
a. Year
b. 2 years
c. 3 years
d. As necessary

102. Lands acquired by beneficiaries under the CARP shall not be sold, transferred or conveyed except
through hereditary succession, or to the government, or to the LBP, or to other qualified beneficiaries through
the DAR for a period of
a. 5 years
b. 7 years
c. 10 years
d. 25 years

103. When the land ceases to be economically feasible and sound for agricultural purposes, the DAR, may
authorize the reclassification or conversion of the land and its disposition after the lapse of
a. 3 years
b. 5 years
c. 10 years
d. 15 years

104. In case of non-redemption of foreclosed property, the capital gains tax or creditable withholding tax shall
be paid based on
a. Winning bid price
b. Bid price or zonal value, whichever is higher
c. Bid price or zonal value or assessor’s value whichever is higher
d. Zonal value

105. Spouses Taylors and Swifts are both real estate broker. For 2012, Ed earned P 1,850,000.00 and Susie
earned P 2,00,000.00. How much was the VAT paid by the spouses?
a. P 385,000.00
b. P 462,000.00
c. P 240,000.00
d. P 200,000.00

106. Supreme Court ruling on Ownership over abandoned river bed.

a. In relation to the abandoned river bed not attributable to the riparian owner. Section 2, Article XII of the
1987 Constitution which states that “all lands of the public domain, waters, minerals, coal, petroleum, and other
mineral oils, all forces of potential energy, fisheries, forests or timber, wildlife, flora and fauna, and other natural
resources are owned by the State.
b. The ownership over the abandoned river bed will depend if the new course of the river occupied a portion
of the land of the riparian owner. If so, then the riparian owner may own the abandoned river bed in proportion
to the area of his property which was lost because of the natural change in the course of the waters. However,
if the new course of the river did not occupy any portion of the property of riparian owner, then the state owns
the abandoned river bed.
c. An abandoned river bed is not the same as accretion where the riparian owner, can claim ownership.
d. All of the above

107. These huge tracts of land are owned mostly by three predominant Spanish religious orders, the
Dominicans, Augustinians and Recollects, and comprise about one-tenth of all the improved lands in the islands.
a. Homestead
b. Patent
c. Friar Lands
d. Feudal Lands

108. A replacement CAR shall be valid for _________ from the date of issuance of the said CAR.
a. 2 years
b. 3 years
c. 1 year
d. 6 months

109. The CAR, upon issuance, as construed by BIR, shall be presented to the Registry of Deeds for a
maximum period of not more than _____ otherwise the said CAR shall be deemed permanently expired and no
effect.
a. 2 years
b. 3 years
c. 1 year
d. 6 months

110. Under R.A. 6732, administrative reconstitution of lost or destroyed original

copies of titles can be availed of when the certificates lost or destroyed are at
least:
a. 10% of all titles in the registry
b. 20% of all titles in the registry
c. 30% of all titles in the registry
d. None of the above

111. Husband and wife can sell property to each other in the following circumstances, except when:
a. A separation of property was agreed upon in the prenuptial agreement
b. There has been a judicial separation of property
c. There has been a legal separation
d. Spouses have been separated for more than 10 years.
112. As elaborated under Supreme Court’s G.R. No. 165133. The sale of a piece of land which was made
through an agent whose authority is verbal is:
a. Voidable
b. Unenforceable
c. Valid
d. Void

113. Lease of real property or of an interest therein for a longer period than one year not reduced in writing.
a. Voidable
b. Valid but Unenforceable
c. Rescindable
d. Void

114. In the contract of Antichresis, “the amount of the principal and of the interest shall be specified in writing;
otherwise, the contract of Antichresis shall be ____”
a. Voidable
b. Valid but Unenforceable
c. Rescindable
d. Void

115. Art. 1868, Civil Code. The agency may be express or implied. It is generally not required to be in writing;
the contract may be oral unless the law requires a specific form.
A. True
B. False
C. Sometimes True
D. Sometimes False

116. In case of refusal of the lessor to accept payment of the rental agreed upon, the lessee may either deposit
by way of consignation, the amount in:
A. Court
B. City/ Municipal treasurer
C. Bank in the name of and with notice of the lessor
D. Any of the above

117. The following are types of property descriptions ordinarily used in deeds, contracts, offer to sell, except:
A. Rectangular survey
B. Lot number
C. Monuments
D. Metes and bounds

118. TCT has an annotation that says” subject to sec.4, Rule 74 of the Rules of Court. It means that the
property is subject to claim by any heir unduly deprived of lawful participation in the settlement of the decedent’s
estate within”
A. 2 years
B. 4 years
C. 3 years
D. 1 year

119. Conjugal partnership can be dissolved by:

A. Legal separation
B. Annulment of marriage
C. Judicial separation of property
D. Any of the above

120. In a sale retro where it is stipulated that the vendor has the right to repurchase the property “when he
has the means”, he has ___________to redeem it.
A. 3 years
B. 4 years
C. 10 years
D. 20 years

121. What is the period of repurchase should there be no period agreed upon by the parties?
A. 3 years
B. 4 years
C. 10 years
D. 20 years

122. The provision of housing that is so substandard that, for all intents and purposes, a landlord has
evicted the tenant. For example, the landlord may refuse to provide light, heat, water or other essential services,
destroy part of the premises or refuse to clean up an environmental health hazard, such as lead paint dust.
Because the premises are unlivable, the tenant has the right to move out and stop paying rent without incurring
legal liability for breaking the lease.
A. Judicial Ejectment
B. Constructive Criticism
C. Legal Eviction
D. Constructive Eviction

123. The maximum period that a foreigner may lease private land in the Philippines is:
a. Fifty years
b. Sixty years
c. Seventy-five years
d. Ninety years

124. Grounds for Judicial Ejectment shall be allowed on the following grounds:
A. Assignment of lease or subleasing of residential units in whole or in part, including the acceptance of
boarders or bed spaces, without the written consent of the owner/lessor;
B. Arrears in payment of rent for a total of three (3) months
C. Legitimate need of the owner/lessor to repossess his or her property for his or her own use of for the use
of an immediate member of his or her family as a residential unit OR Need of the lessor to make necessary
repairs of the leased premises which is the subject of an existing order of condemnation by appropriate
authorities concerned in order to make the said premises safe and habitable.
D. A, B and C are correct including the Expiration of the period of the lease contract.

125. If applicable rent is within the bounds of Rent Control Act, the lessor cannot demand more than ____
month/s advance rent. Neither can he/she demand more than _____ month/s deposit which shall be kept in a
bank under the lessor's account name during the entire duration of the lease agreement.
A. 2, 2
B. 1, 2
C. 3, 5
D. Depending on the agreement of parties

126. The following liens can be found at the back of the title except:
a. Real estate tax liens
b. Mechanic’s liens
c. Mortgage lien
d. Judgment liens
e. None of the above

127. A subdivision scheme where the resulting blocks are more or less rectangular in shape.
A. Gridiron Subdivision
B. Chaplan
C. Square Planning
D. Curvilinear layout

128. A subdivision plan prepared for a flat terrain condition.

A. Gridiron Subdivision
B. Chaplan
C. Square Planning
D. Curvilinear layout
129. A subdivision plan prepared for a rolling terrain condition.
A. Gridiron Subdivision
B. Chaplan
C. Square Planning
D. Curvilinear layout

130. CARPER on August 7 2009

A. Comprehensive Agrarian Reform Program Extension with Reforms
B. Comprehensive Agricultural Reform Program Extension with Reforms
C. Comprehensive Agrarian Reform Program Extension and Reforms
D. Comprehensive Agro-industrial Reform Program Extension Reforms

131. Based on Sec 15 of RA 8763 socialized housing price ceilings are set by ___ and ____.
A. HUDCC, NEDA
B. Department of Finance, NEDA
C. NEDA, BLGF
D. CHED and NEDA

132. Home Guaranty Corporation Act of 2000

A. RA 8893
B. RA 8763
C. RA 3844
D. RA 7744

133. Laid the foundation of today’s concept of economic rent.

A. Big Bag Theory Theories of the Mercantilists
B. Theories of Austrian School
C. Swiss Theory of Economics
D. Theories of the Physiocrats

134. Relationship of market price and value. It is said that normal value under conditions of
balanced supply and demand.
A. Big Bag Theory Theories of the Mercantilists
B. Theories of Austrian School
C. Swiss Theory of Economics
D. Theories of the Physiocrats

135. A legal remedy under Philippine law which provides for the protection of one's right to a
"balanced and healthful ecology in accord with the rhythm and harmony of nature" as provided
in Section 16 Article II of the Philippine Constitution.
A. Agenda 21
B. National Economy and Patrimony
C. Writ of Kalikasan
D. Ecological Balance Act

136. A broker sold a subdivision lot priced at ₱5,500, 000 inclusive of E-VAT. How much is the
5% commission of the broker net of creditable withholding tax?
A. 220,982.14
B. 247,500.00
C. 245,535.71
D. 233,258.93

137. Under RA 10963, the current amount of family home equivalent to fair market value
considered as allowable deduction from the estate of a decedent.
A. 3,000,000
B. 3,199,200
C. 1,000,000
D. 10,000,000
 138. The first survey undertaken on a piece of land to determine its technical descriptions area
and relative location with other lands.
A. Reference Survey
B. Relocation Survey
C. Plane Survey
D. Original Survey

139. A tract of agricultural land measuring 2 hectares, 1 acre, 86 ares and 700 centares has a
total area of ____ square meters. 4046.86
A. 129,300 square meters
B. 30,300 square meters
C. 29,704.68 square meters
D. 23,346.86 square meters

140. Lot A to B has a distance of 7 miles, Lot B to C has a distance of 9.5 kms. Lot C to D has
a distance of 0.85 km. Compute total distance from Land A to D.
A. 17.35 kilometers
B. 11.83 kilometers
C. 21.61 kilometers
D. 21.11 kilometers

141. 1 acre is equivalent to how many hectares?

A. 0.404686
B. 2.47
C. 0.99957
D. 0.163563

142. A kind of survey in which photographs are used to determine the configuration of land
man-made and natural features.
A. Photogrammetry Survey
B. Aerial Survey
C. Remote Survey
D. Satellite Survey

143. Fit and Proper Rule means to maintain the quality of management of the REIT and afford better protection
to REIT investors, _____, or the concerned regulatory agency, shall prescribe or pass upon and review the
qualifications of individuals elected or appointed as directors or officers of the REIT, REIT fund managers,
REIT property managers, distributors and other REIT participants and disqualify those found unfit. The
appropriate regulatory agency may disqualify, suspend or remove any director or officer who commits or omits
an act which renders him unfit for the position.
a. Securities and Exchange Commission
b. PRBRES
c. GSIS
d. Professional Regulation Commission

144. Revised IRR of REIT law was done on:

a. May 13, 2011
b. Jan 13, 2020
c. Jan 20, 2020
d. Aug 11, 2010

145. Refers to that part of the educational system intended to meet basic learning needs and provides the
foundation on which subsequent learning can be based. It encompasses kindergarten, elementary and
secondary education as well as alternative learning systems for out-of-school youth and those with special
needs
a. Basic Education
b. Higher Education
c. Trifocalized Education
d. Technical Vocational Education and Training

146. Refers to the shared administration of the education system by the three (3) agencies responsible for
each education level: The Department of Education (DepED) for basic education; the Technical Education and
Skills Development Authority (TESDA) for technical-vocational education and training; and the Commission on
Higher Education (CHED) for higher education.
a. Basic Education
b. Higher Education
c. Trifocalized Education and Training
d. Technical Vocational Education and Training

147. Refers to a formal certification that a person has successfully achieved specific learning outcomes
relevant to the identified academic, industry or community requirements. A qualification confers official
recognition of value in the labor market and in further education and training
a. Qualification
b. Technical Vocational Education and Training
c. Certification of Completion
d. Trifocalized Education and Training

148. A REIT's structure is similar to that of a _____ in those investors combine their capital to buy a share of
commercial real estate and then earn income from their shares—but with some key differences.
a. Insurance
b. Mutual Fund
c. Debt only
d. Equity only

149. Philippine Qualifications Framework-National Coordinating Council (PQF-NCC) chairman must be coming
from:
a. Secretary of DOLE/Chairperson of CHED/General Director of TESDA
b. 1 representative from industry sector/ 1 representative from economic sector
c. Secretary of DepEd
d. Chairperson of PRC

150. Distributable income excludes proceeds from the sale of the REIT’s assets that are re-invested in the
REIT within ____ year from the date of the sale.
a. One b. Two
c. Three d. Five

151. It covers the Scope and Coverage of the Code of Ethics as provided by PRBRES Resolution No. 39
Series of 2019.
a. Article I
b. Article II
c. Article III
d. Article IV

152. When was Resolution No. 39 Series of 2019 signed by PRBRES?

a. May 5, 2019
b. May 6, 2019
c. May 7, 2019
d. May 8, 2019

153. Under Article V Section 42, Implementing Rules and Regulations – After the effectivity of the Act, the
Board together with the AIPO, the Department of Finance and the CHED, shall within a period of 6 months,
prepare the IRR including the:
a. Code of Ethics and Responsibilities
b. CPE Council
c. Implementing Guidelines
d. Instructions for Gran Father Clause Applicants

154. A broker has just received from a fellow broker's client/buyer, a written offer to purchase property of his
client/seller together with a check of earnest money payment. Which of the following steps is the most proper
and ethical for him to take?
A. Call another fellow broker whose client is also interested in the property in the hope that they can top the
offer
B. Call the seller immediately to inform him about the offer and submit at the soonest possible time, both
the written offer and the earnest money payment
C. Show the offer to another prospective buyer in the hope of getting a better price for the seller
D. Reject the first offer outright based on his opinion that the offered price is too low and tell fellow who
submitted the offer to convince the buyer to make a higher offer.
155. A broker has secured a written offer to purchase at the price and terms expected by his client seller.
Before the offer is signed and accepted, the seller died. Several steps have to be taken by the broker to save
the sale and protect the interest of all panics concerned. Which of the following is inappropriate and
unnecessary?
A. File notice of lis pendens on the subject property to protects his rights as broker
B. Secure a new written authority to sell from the heirs or their legal guardians or attorney-in-fact if the heirs
are all minors
C. Inform the prospective buyer that the registered owner has died
D. Explain to the buyer the salient point of Section 4. rule 74 while be annotated in the new title if ever the
sale pushes through.

156. A foreigner who is married to a Filipina must execute an affidavit of waiver (VOID) so that the title to the
property bought by the Filipina may be:
A. Sold
B. Mortgage
C. Registered in the name of the Filipina with the Registry of Deeds
D. Leased

157. A positive act of the government is necessary to enable such reclassification, and the exclusive
prerogative to classify public lands under existing laws is vested in this department.
A. Courts
B. Executive
C. Local Government Unit
D. All of the above

158. The kinds of properties of public dominion are as follows, EXCEPT:

A. Property intended for public use.
B. Property intended for the development of national wealth.
C. Property which is not for public use but intended for public service.
D. None of the above

159. The Supreme Court ruled, In the case of Alanis v. Court of Appeals, GR No. 216425, promulgated last
November 2020 penned by Associate Justice Marvin Leonen, the term “principally” does not mean
“exclusively” to the father in relation to what?

a. Legitimate children are allowed to use the surname of their mother as their last name

b. Legitimate children have ½ share of illegitimate children

c. Legitimated children may now marry the legitimate children

d. Acknowledged Children may now use the surname of their father so long that the latter did acknowledge
the former through an affidavit.

160. This came to be the “last lung of Manila covering 2.2 hectares in the Ermita district that the city
purchased from LBP in 1992 for around P65 Million pesos. Meanwhile, a group of environmental advocates
urged the Manila City government to stop the current redevelopment of this riverside park.
a. Arroceros Forest Park
b. Manila Park and Gardens
c. Luneta Park
d. Paco Park

161. Public and private agricultural land is excluded from CARP when it has a slope or gradient of:
a. Nine percentage
b. Eighteen Percentage
c. Twelve percentage
d. Fifteen percentage

162. PhilRES is the accredited AIPO of PRC-PRBRES. PHILRES stands for?

a. Philippine Institute of Real Estate Service
b. Philippine Institute of Real Estate Service Professionals
c. Philippine Institute of REAL ESTATE BROKER, APPRAISERS and CONSULTANTS
d. Philippine Institute of Real Estate Securities
163. Who is the Chairman and First President of PAPRB?
a. Eduardo Gomez-Ong
b. Eduardo Gutierrez-Ong
c. Dr. Eduardo Guttierez-Ong
d. Eduardo Gaspar-Ong, DBA, DPA, PhD

164. As to distribution of the proceeds of Real Estate Tax

Property. In case of province which shall accrue ___, municipal ___ and barangay is 25%?
a. 35%, 40% respectively
b. 25%, 50% respectively
c. 40%, 35% respectively
d. 40%, 35% respectively

165. Based on the LGC, as to distribution of the proceeds of Real Estate Tax
Property. In case of Pateros,
a. 35% General Fund of MMDA, 40% General Fund of Municipality where property is located, 25% to Component
Barangays of the municipality where property is located.
b. 70% General Fund of MMDA, 30% General Fund of Municipality where property is located.
c. 35% General Fund of MMDA, 35% General Fund of Municipality where property is located, 30% to Component
Barangays of the municipality where property is located.
d. 40% General Fund of MMDA, 40% General Fund of Municipality where property is located, 20% to Component
Barangays of the municipality where property is located.

166. The proceeds the additional one percent (1%) tax on real property accruing to the Special Education Fund
(SEF) shall be automatically released to the ____________
a. local civil registrar
b. local school boards
c. general fund of cities and municipalities
d. Department of Education

167. How many members of the Professional Regulatory Board

shall represent the government assessors and appraisers who
are in active government service?
a. Three (3) c. Five (5)
b. Two (2) d. One (1)

168. Certificate of Registration shall be issued to the licensed real estate service practitioner and shall be
assigned to each of them. The professional Identification Card shall be valid:
a. Every three years and valid until December 31 of every third year
b. Every three years and valid until the licensee’s birthdate
c. Every three years
d. Issued a new one after three years

169. The owner of a house and lot agreed to lease his house to
the lessee who paid the deposit and the initial month’s rent;
however, the agreement was not written in the contract of
lease. The lease is
a. Inexistent c. Valid
b. Unenforceable d. Void

170. Under the Statute of Frauds (Article 1403 of the Civil Code), the following documents must be in writing to
be enforceable, except:
a. Sale of goods worth P500 or more
b. Promise to answer for the debt or default of another
c. Sale of real property
d. Lease contract of six months
171. A subdivision project which is master-planned to provide all the elements of a small community, including
commercial areas, residential areas, community facilities, leisure amenities.
A. First-class subdivision
B. Planned unit development
C. Mixed community
D. Urban subdivision

172. After development, the road, alleys, sidewalks and playgrounds in a subdivision.
A. Shall be maintained in perpetuity by the developer
B. Shall be donated either to the LGU or homeowner’s association at developer’s option
C. Shall be donated only to the LGU
D. Shall be donated to the LGU or to the Homeowner’s Association subject to consent of the LGU

173. Under BP 220, on 80-000-square meter gross area of socialized housing project and a density of 140
dwelling units per hectare, how many square meters should be allocated to community facilities?
a. 1,200
b. 800
c. 1,600
d. 2,000

174. “TRAIN” Law stands for

A. Tax reform for acceleration and inclusion
B. Tax reform on acceleration and inclusion
C. Tax reform activities and incentives
D. Tax rules for accelerating incentives

175. A practicing real estate broker whose gross sales is below the VAT threshold and is not a mixed
income earner may avail of _____ on gross sales in excess of P 250,000.
a. Percentage Tax of 3%
b. Capital Gains Tax of 10%
c. CWT of 8%
d. CWT of 5%

176. The current maximum fair market value of the decedent’s family home that is exempt from estate tax is
P10M and there is also the removal of what additional requirement?
a. sine qua non condition for exemption or deduction
b. that the family home must be sold within 18 calendar months
c. that BIR commissioner must be notified
d. that the decedent’s must have been standing for the last 10 years prior to his death

177. It assumed that deterioration and wear occur at a constant average annual rate
a. Straight line depreciation
b. Average depreciation
c. Constant depreciation
d. Constant accelerated depreciation

178. A program of the Social Housing Finance Corporation to provide funds for socialized housing
A. Community mortgage program
B. Public-private partnership housing program
C. Housing cooperative financing program
D. Building Adequate Livable Affordable and Inclusive (BALAI) Filipino Communities

179. SHFC missions to empower and uplift the living conditions of underprivileged communities by Building
Adequate Livable Affordable and Inclusive (BALAI) Filipino Communities through provision of FAIR shelter
solutions-which means:
a. Flexible, Affordable, Innovative, and Responsive
b. Fair, Affordable, Innovative, and Responsive
c. Flexible, Affordable, Innovative, and Resilient
d. Fair, Affordable, Innovative, and Resilient

180. Provides for the creation of the Anti-Red Tape Authority or ARTA, the government agency mandated to
administer and implement the said law and its Implementing Rules and Regulations, and to monitor and ensure
compliance with the national policy on anti-red tape and ease of doing business in the country.
A. RA 11032
B. RA 11534
C. RA 10968
D. RA 11537

181. Unused tax credit certificates (TCC) for more than _______ shall be converted to cash as per BIR RR
14-2020.

a. 1 year
b. 2 years
c. 3 years
d. 5 years

182. A Tax Credit Certificate issued in accordance with the pertinent provisions of the Tax Code of 1997, as
amended, which shall remain uncashed or unclaimed within _____ from the date of issue, mailing or delivery,
whichever comes later, shall be forfeited in favor of the Government and the amount thereof shall revert to the
general fund.
a. 1 year
b. 2 years
c. 3 years
d. 5 years

184. Which of the following private professional associations is not primarily comprised of real estate
consultants?
A. PARCS
B. IPREC
C. PHILREC
D. PAREB

185. The roster of real estate service practitioners must be kept by the PRB-RES and
a. submitted to the CHED every year.
b. submitted to the DHSUD every year.
c. submitted to the DOLE every year.
d. made available to the public upon request.

186. Amortization is the

A. Recurring amounts needed in the future equivalent to a present sum.
B. Simplified procedure for calculating a future value of a present investment
C. Building up a nest egg for the future
D. Paying off a loan in one lump-sum

187. If “R” is the annual interest rate and “n” is the number of years, the Future Value of the “Principal”
compounded monthly is:
A. Future Value = Principal x R x n
B. Future Value = Principal x (1+R) ^n
C. Future Value = Principal x (1+R/12) ^12n
D. None of the above is correct

188. An economic theory which advocates government intervention, or demand-side management of the
economy, to achieve full employment and stable prices.
A. Mercantile economics
B. Keynesian economics
C. Laizze Faire
D. Socialism

189. Which of the following is not considered an Environmentally Critical Areas (ECA) as listed in Presidential
Proclamation 2146 dated December 1981, as follows:
a) All areas reserved for construction of public healthcare facilities.
b) All areas declared by law as national parks, watershed reserves, wildlife preserves and sanctuaries;
c) Areas of unique historic, archaeological, or scientific interests;
d) Areas which are traditionally occupied by cultural communities or tribes

190. Which of the following portions is not included in Gross Floor Area (GFA) of a building for purposes of
computing the FAR?
A. Areas occupied by terraces and balconies that are roofed
B. Areas occupied by stairs and elevators
C. Covered areas used for parking and driveways
D. Mezzanine levels

191. In case of sale of agricultural lands not exceeding five (5) hectares, aside from clearance from DAR, buyer
must also submit what document?
A. Undertaking to surrender land in excess of retention limits
B. Affidavit of compliance with CARL
C. Affidavit of total or aggregate landholding
D. Affidavit of waiver

192. Registration of sale of a five (5) hectare agricultural land must be accompanied by
a. DAR Conversion Permit
b. DAR Clearance
c. HLURB License to Sell
d. LGU Development Permit

193. The following are public dominion, except

a. Navigable River
b. public plaza converted into housing
c. Canal
d. Subdivision roads

194. Has ruled that all agricultural lands that are already classified as commercial, industrial or residential before
June 15, 1988 no longer need any conversion clearance even if it is still devoted to agricultural activity.
a. RA 9700
b. RA 7279
c. DOJ Opinion No. 44, Series of 1988
d. DOJ Opinion No. 44, Series of 1990

195. Under the agrarian land reform law, a private land owner who has one child at least ___ years old and
actually tilling the land can retain three hectares.
a. 15
b. 16
c. 17
d. 18

196. If the given bearing is S 30 degrees E, then the line involved will be found within the
a. First quadrant
b. Second quadrant
c. Third quadrant
d. Fourth quadrant
Azimuth is angle only (Automatic Clock-wise) 360 degrees
Bearing is with cardinal direction (N and S) <90 degrees

197. A subdivision plan for a flat terrain will most likely utilize this type of planning layout
a. Chaplan planning
b. Contour planning
c. Gridiron planning
d. square planning

198. Right of pre-emption or redemption (right of first refusal) is given to legitimate tenants in urban land to buy
the property they are renting if the owner is selling the land as long as they are renting the place for at least
______ years.
a. 5 years
b. 8 years
c. 10 years
d. 30years
199. Refers to individual groups who occupy land without the express consent of the landowner after March 28,
1992. Their structures shall be dismantled and appropriate charges shall be filed against them by the proper
authorities if they refuse to vacate the premises.
a. Professional Squatter
b. Squatting Syndicates
c. New Squatters
d. Informal Settlers

200. If the land is tenanted after 1972, emancipation patent maybe sold only after ____ years from date of
recognition of tenant.

a. 5years
b. 8 years
c. 10years
d. 30years