Real Estate Brokers Mock Board Examination

PART-I: General /Fundamentals (1 hr and 20 minutes)

1. PAPRB stands ________________.
a. Philippine Association of Profession Regulation Boards
b. Philippine Association of Professional Regulatory
Bonds
c. Philippine Association of Professional Regulatory
Boards
d. Philippine Association of Professional Regulation
Boards

2. PhilRES is the accredited AIPO of PRC-PRBRES. What stands
for_________?
a. Philippine Institute of Real Estate Service
b. Philippine Institute of Real Estate Service
Professional
c. Philippine Institute of REAL ESTATE BROKER, APPRAISERS
and CONSULTANTS
d. Philippine Institute of Real Estate Securities

3. Who is the Chairman and First President of PAPRB?
a. Eduardo Gomez-Ong
b. Eduardo Gutierez-Ong
c. Eduardo Golez-Ong
d. Eduardo Gaspar-Ong, DBA, DPA, PhD

4. What do you call the additional paid tax on Real estate tax
property that is allocated for Local School Boards?
a. Special Education Fund Tax
b. Capital Gains Tax
c. Documentary Stamp Tax
d. Idle Tax
5. As to distribution of the proceeds of Real Estate Tax
Property. In case of province which shall accrue 35%,
municipal 40%, and barangay is ____?
a. 35%
b. 25%
c. 30%
d. 40%
6. The process of acquiring private property for public use is
called?
a. Condemnation
b. Eminent Domain
c. Escheat
d. Police Power
7. The tax imposed on profit presumed have been realized on
the sale or disposition of lands and/or buildings.
a.Estate Tax
b. Capital Gains Tax
c. Inheritance Tax
d. Realty Tax
8. An item that was once personal property that has become
part of the real estate is referred to as
a. Real property
b. Real estate
c. Fixture
d. Equipment

9. The right of government to regulate land use for the public
good.
a. Escheat
b. Eminent domain
c. Police power
d. Taxation

10. Acquisition of private land by the government for public
use could be undertaken thru the following procedures, except
a. Negotiated sale or purchase c. Exchange or
barter
b. Condemnation d. Foreclosure
11. Land is unique because
a. No two parcels have the same owners .
b. No two parcels have the same features
c. No two parcels have the same soil composition
d. No two parcels can occupy the same space on the face of
the earth

12. The term leasehold estate refers to which of the
following rights or responsibilities?
a. The rights of the owner of a property that has been
leased
b. The rights of the tenant who leased property
c. The rights of the owner of a property that is not
currently leased
d. The responsibility of a trustee who holds the lease
13. A fee simple interest in a property is an example of:
a. Real Property c. Personal
property
b. Real Estate d. Emblement

14. By this contract, the creditor acquires the right to
receive the fruits of an immovable of the debtor, with the
obligation to apply them to the payment of interest, if any,
and then to the principal of the debt
a. Mortgage c. Pledge
b. Hypothecation d. Antichresis

15. Annotation of Section 4, Rule 74 of the Rules of Court on
the title to the property of a deceased person, a surviving
spouse and children, provides that the property shall be
subject to the rights of three of the following four. Who
among the four does not have the right ot the subject
property?
a. Heirs
b. Any persons who might have been unduly deprived of his
participation in the estate of the deceased
c. The parents of the deceased
d. Creditors

16. An act strengthening and amending some provision of the
Comprehensive Agrarian Reform Law
a. RA 6657 c. RA 9225
b. RA 9700 d. RA 6552

17. Public and private agricultural land is excluded from CARP
when it has a slope or gradient of:
a. Nine percentage c. Eighteen Percentage
b. Twelve percentage d. Fifteen percentage
18. A limitation on the use of real estate through a written
legal document that is usually recorded.
a. Mortgage
b. Deed restriction
c. Lien
d. Chattel

19. A charge against a property in which the property is
security for payment of a debt is called a
a. lien.
b. mortgage.
c. escheat.
d. restriction.

20. A loan or promissory note that is secured by the real
estate.
a. Lease
b. Mortgage
c. Lien
d. Chattel

21. A trespass on anothers land is a from of a / an
a. Easement
b. Encroachment
c. Mortgage
d. Restriction

22. A government restriction imposed on ownership of real
estate that actually means going to the state.
a. Eminent domain
b. Police power
c. Escheat
d. Taxation

23. The real property tax rate in the province does not exceed
____________________________ and in the city or municipality
in Metro Manila _____________________________________ .
a. 2% of the assessed value; 1% of the assessed value
b. 1% of the assessed value; 2% of the assessed value
c. 1% of the market value; 1% of the assessed value
d. 2% of the market value; 2% of the assessed value

24. The annual property tax on a parcel of land is P5,000.
The taxing authority assessed the land at 50% of the market
value. If the tax rate is 2% of the assessed value, what is
the estimated market value of the land?
a. P500,000 c. 1,000,000
b. P 300,000 d. 200,000
25. Sellers of lots are exempted from VAT if the value of the
property is not more than _______ and ________ if there is
house in the said property
a. P1.5 million; P2.5 million
b. P1.9 million; P3.2 million
c. P2 million; P3 million
d. P3 million; P5 million
26. The real estate practitioner should ensure the highest and
best use of the land and the equitable distribution of the
ownership, irrespective of political beliefs, cultural
background, sect, religion, or class. This rule of conduct and
practice is under:
a. Relation to the Government c. Relation to the
Client
b. Relation to the Public d. Relation to Fellow
Practitioners
27. 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)
28. In order that an examinee maybe deemed successfully
passed the examination he must have obtained an average of
at least seventy-five percent (75%) in all subjects, with
no rating below ___________ in any subject.
a. 75% c. 65%
b. 60% d. 50%
29. 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 licensees
birthdate
c. Every three years
d. Issued a new one after three years
30. Every applicant seeking to be registered and licensed as a
real estate service practitioner shall undergo an
examination to be given by the Board as provided for in R.
A. No. 9646, except:
a. Real estate dealer c. Real estate assessor
b. Real estate broker d. Real Estate Salesperson


31. All of the following areas of regulation affect appraisers
except
a. PRC
b. LGU Planning Office
c. DTI
d. Register of Deeds

32. When is the date of signing of the Real Estate Service Act
a. 29 June 2009 c. 29 July 2010
b. 29 July 2009 d. 29 July 2011


33. Section 6 of Article I - Declaration of Principles of the
National Code of Ethics for Real Estate Service Practitioners
clearly states the GoldenRule which says:
a. Do not do unto others what you want others do to you"
b. "Do unto others as you like them to treat you"
c. "Do unto others as you want them to be treated
d. "Do unto others as you would have them do unto you"

34. The real estate practitioner should not offer or agree to
pay, to split or rebate any commission, fee, or valuable
consideration, directly or indirectly, with any person who is
not a duly licensed practitioner. This rule of conduct and
practice is under:
a. Relation to Fellow Practitioners c.Relation to the
Government
b. Relation to the Public d. Relation to the
Client
35. The Professional Board for Real Estate Service is composed
of:
a. A Chairman and three (3) commissioners
b. A Chairman and four (4) commissioners
c. A Chairman and five (5) commissioners
d. A Chairman and six (6) commissioners

36. A stipulation authorizing mortgagee (creditor, lender) to
appropriate the property as his own if the mortgagor fails to
pay the principal obligation at the stipulated time is called:
a. Pacto Commissorium c. Pactum Commissorium
b. Pacto de Non-Alienado d. Tacita Reconducta

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



38. 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 more than P500
b. Promise to answer for the debt or default of another
c. Sale of real property
d. Lease contract of not more than one year
39. X, owner of a 10-door apartment, rented a unit to Y for a
period of one year. Under the law on lease, Y, without
consent of X, may perform any of the following acts, except:
a. Sublease the unit
b. Assign his rights
c. Suspend payment if X fails to make the necessary
repairs
d. Demand payment reimbursement constituting one half the
value of the useful improvement introduced in good
faith.
40. One broker should have
a. at least 20 RES
b. at most 20 RES
c. minimum 20 RES
d. less than 20
41. REIT assets must be fully validated at least ______ by an
independent appraiser/valuer duly accredited by the SEC:

a. Once a year c. Once every three years
b. Once every two years d. Once every five years

42. REIT must meet the following requirements, EXCEPT:
a. Must be listed in the Philippine Stock Exchange
b. Must have minimum capitalization of P500 million
c. Must have at least 1,000 public shareholders
d. Must invest at least 75% of its assets in income-generating
real estate.

43. REIT is entitled to the following tax benefits EXCEPT:
a. Exempt from minimum corporate income tax of 2% of gross
income
b. 50% of applicable DST rates on sale/transfer of real
property to REIT
c. VAT-exempt on any disposal of real property or rental
d. VAT-exampt on sale/exchange/transfer of securities

44. The REIT that derives its income principaly from income-
generating properties is called:
a. Hybrid REIT c. Equity REIT
b. Mortgage REIT d. Finance REIT

45. Is a document granting authority to any registered owner /
developer to sell lots or units within an approved subdivision
or condominium project and providing the duties and
obligations of said owner/developer.
a. HLURB License To Sell c. Development Permit
b. Subdivision Plan d. Environmental Clearance

53. Urban Development and Housing Act (UDHA) of 1992.
a. R.A. 7279 c. R.A. 9279
b. R.A. 7927 D. R.A. 7972

46. As provided by RA # 7279 a developer of a subdivision
Project is required to develop at least 20% of the project for
:
a. Parks & open space c. socialized housing
b. Low cost housing d. economic housing

47. R.A. 7160 prescribes that for real property taxation, the
market value should be based on:
a. Prevailing price in the area
b. Value established by the Assessor
c. Value determined by a licensed appraiser
d. Value approved by the Sanggunian concerned

48. It is an annual levy on real estate equivalent to 1% of
assessed value which shall be in addition to the basic real
estate tax.
a. Socialized Housing Tax c. Ad valorem tax
b. Idle Land tax d. Special Education Fund tax

49. The idle land tax for idle land located in the province
shall be at the rate:
7
a. Not exceeding 2% of the assessed value
b. Not exceeding 4% of the assessed value
c. Not exceeding 6% of the assessed value
d. Not exceeding 5% of the assessed value

50. The annual property tax on a parcel of land you are
appraising 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, what is the estimated market value of the
land?
a. P250,000 c. P750,000
b. P350,000 d. 550,000

51. In 2011, Quezon City became the first city in the
Philippines to implement a socialized housing tax under R.A.
7279. How much maximum additional tax on the assessed value of
all lands in urban areas in excess of P50,000 are
LGUs allowed to impose for socialized housing purposes?
a. 0.25% c. 0.75%
b. 0.50% d. 1.00%

52. For a seller to be considered as habitually engaged in
real estate business, he must have consummated at least ____
taxable real estate transactions during the preceding year:
a. Five c. Eight
b. Six d. Ten
53. The exemption on the payment of the capital gains tax on
the sale of a principal residence by the individual seller who
will utilize the proceeds to purchase a new residence maybe
availed only :
a. Thrice every 20 years c. Once every 10 years
b. Twice every 10 years d. Once every 5 years

54. In taxation, the basis for the computation of the capital
gains tax on the sale of a house and lot, shall be the
following whichever is higher, except:
a. Appraised value c. Selling price of the sale
b. Zonal value d. Assessors value


55. The maximum assessment level of a condominium residential
building is:
a. 40% c. 60%
b. 50% d. 80%
56. Under RA 7160, the share of a barangay in a province in the
proceeds of real estate taxes is:
a. 20% c. 30%
b. 25% d. 35%

57. Under RA 7160, the share of a municipality in Metro Manila
in the proceeds of real estate taxes
is:
a. 30% c. 40%
b. 35% d. 45%

58. Which of the following is not exempted from real estate
taxes:
a. Electric cooperative
b. Multi-purpose cooperative registered under RA 6938
c. public cemetery
d. private non-sectarian school

59. Under the Assessment Calendar, the submission of the
Schedule of Fair Market Values to the Sanggunian concerned &
conduct of public hearings should be done not later than
October 30
of the:
a. first year c. third year
b. second year d. fourth year



60. What is the senate bill number of RESA before it became
Republic Act?

a. SN 2963 b. SN 3514 c. SN 3654 d. SN 2962
61. Who is the chairman of PRC?

a. Teresita R. Manzalala
b. Teresita R. Mananzala
c. Teresita Q. Manzala
d. Teresita Manzala
62. Professional week is held in what week in October?

a. 2
nd

b. 3
rd

c. 4
th

d. 1
st



63. Before the RESA, the code of ethics under DTI was referred
to as:
a. National Code of Ethics
b. National Code of Ethics for Real Estate Service
c. National Code of Ethics for the Realty Service
Practice
d. National Code of Ethics and Responsibilities

64. The province or city may give a discount on the annual tax
due at the not exceeding:
a. 10%
b. 5%
c. 20%
d. 15%
65. In his dry seal, letterhead, advertisement or
announcements, the real estate broker must indicate his:
a. license number
b. contact number
c. office address
d. personal circumtances
66. The BIR examiner, in case of the sale of a person of a
house and lot considered as ordinary asset, must first
determine the following before the examiner will be able to
know the rate of tax to be imposed;
a. whether the person is habitually engaged in real
estate business or not
b. whether the property is conjugal or community
property
c. the selling price, zonal value or assessors value
whichever is higher
d. whether the house and lot is new or old

67. Among the listed land classifications, which is devoted
principally for activities as capital investment?
a. agricultural b. commercial
c. Residential d. Industrial
68. Being in real estate service practice, it is provided in
the code of ethics that real estate broker should see to it
that all agreements, terms and conditions and obligations in
real estate sales transaction is:
a. in proper legal form
b. be registered with register of deeds
c. in writing and duly signed by all parties
d. signed by the real estate broker
69. Referred to as the Citizenship Retention and Re-
Acquisition Act of 2003 allowing dual citizens.
a. RA 6552
b. RA 9252
c. RA 9225
d. RA 9255
70. The property relations of married couples are provided
under the Family Code which became effective on:
a. August 1, 1988
b. August 3, 1988
c. August 8, 1988
d. August 1, 1987


71. Filipino citizens can acquire by patent agriculturallands
of the public domain not exceeding:
a. Ten hectares
b. Twelve hectares
c. Five Hectares
d. three Hectares
72. Legitime is _____________.
a. compulsory heirs
b. mother and father of the deceased including
wife/husband and siblings
c. Illegitimate Children
d. all heirs
73. Under the LGC, the appraisal of the FMV of the real
property shall be based on:
a. current FMV
b. declaration of lot owner
c. BIR Zonal Value
d. Actual Use

74. The maximum withholding tax on the commission of a
real estate broker that may be deducted is:

a. 6%
b. 15%
c. 10%
d. 32%
75. Angelica, a Filipina married a French citizen last 2008
May and would like to buy a parcel of land in Muntinlupa City.
She may acquire with an area not to exceed
a. 1 hectare c. No limit
b. 5,000sqms d. 3 hectares
76. A real assessment of Real property may be made due to the
following grounds, except:

a. Any great and sudden inflation or deflation of real
property values
b. Gross illegality of the assessment
c. Change of Owner of the property
d. A partial or total destruction of Real property

77. The wife may question the sale of the house and lot if it
is required that her consent be obtained within a period of
how many years form the date of the contract
a. 10 years
b. 5 years
c. 2 years
d. 1 year

78. Unpaid real property tax is subject to 2% per month
interest, up to a maximum period of
a. 12 months
b. 24 months
c. 36 months
d. until paid

79. An instalment sale is where the initial payment is:
a. 30% of the selling price
b. 35% of the selling price
c. 25% of the selling price
d. 45% of the selling price

80. In certain real estate, the purchase price of a 1.5
hectare land is P25,000 per hectare as indicated in the Deed
of Sale; the unit value per Assessors office is P320 per
sqm. The zonal value is P550sqm. What is the CGT to be paid
to the BIR?
a. 495,000
b. 288,000
c. 825,000
d. 335,000
81. Under the Foreign Investments Act of 1991, a former
natural born Filipino who has become an Australian citizen may
not acquire land for the following purpose.
a. Lease out the land c.Buy and Sell business
b. Agriculture purposes d. Put up a plant
Note: R.A. 8179
82. Refers to the actual residence of the decedent and his family at
the time of death.
a. conjugal Home
b. family home
c. family house
d. family residence

83. Who is the new president of PhilRES ,the accredited AIPO of PRC-
PRBRES?
a. Rodolfo Valencia
b. Ariel Martinez
c. Pilar Banaag
d. Rodolfo Vasquez
84. In what month where most dollars are deposited in the
Philippines?
a. December
b. March
c. June
d. April

85. Under Rule 4, Sec 27, the following acts constitute the practice
of real estate service except:
a. Real Estate Brokerage
b. Real Estate Appraisal
c. Real Estate Management
d. Real Estate Consultancy

86. MACEDA Law is what RA#?
a. RA 6552
b. RA 6655
c. RA 7655
d. RA 6635

87. Maceda Law is also known as __________?
a. Realty Installment Buyer Protective Law
b. Realty Installment Buyer Protection Law
c. Realty Installment Buyers Protective Decree
d. Realty Installment Seller and Buyer Proctection Law

88. Capital property constitutes the property of ___________.
a. husband
b. wife
c. husband and wife
d. parents

89. What is the executive order number of Family Code of the
Philippines?
a. EO 209
b. EO 210
c. EO 208
d. EO 202

90. An Act Authorizing the issuance of free patents to residential
lands:
a. RA 10023
b. RA 10025
c. RA 10250
d. RA 9900

91. Anti-Red tape act of 2007 is
a. RA 9194
b. RA 9225
c. RA 9485
d. RA 9700

92. 20,000 is the minimum amount surety bond for real estate broker
and real estate appraiser who are in private practice, how about
government appraiser?
a. employee in government service shall not require to get a bond
instead a certificate of employment notarized
b. an employee of the government also have surety bond in the amount
of 20,000
c. no surety bond required but required to get a bond for SEC/BSP
d. only existing appraisers or assessors are not required to get a
bond.

93. Alyssa sold her residence to buy a bigger house. She must buy
her new residence within a period of

a. 18 months
b. 30 days from the date of notarization of sale
c. 18 calendar days
d. 12 months
94. The real estate tax on the house and lot owned by you may be
paid without penalty interest in
a. semi annually
b. 4 equal quarterly
c. 4 payments any date
d. monthly payments

95. The color of service of Real Estate Service profession is

a. Blue
b. Red
c. Yellow
d. Green
96. Represent agricultural produce in the logo of PRBRES?

a. Land and trees
b. Land and fruits
c. Trees only
d. Trees and the fruits


97. When Real Estate Service practitioners resigned from the company
how many days where the company should informed the PRC-PRBRES?
a. 15 working days
b. 15 days
c. 30 days
d. 20 working days

98. Includes bundle of rights, interest and benefits related to the
ownership of real estate.
a. Real Estate
b. Real Estate property
c. Fee simple
d. Freehold Estate

99. One of the powers of the PRBRES are, except:
a. Conduct licensure examinations
b. Assess and fix rate of reasonable regulatory fees
c. adopt a national code of ethics and responsibilities issued by
different real estate organizations
d. administer oaths and affirmations

100. In the submission of report of PRBRES to PRC, what is the term?
a. Semi-Annually
b. Annually
c. Submit only if required by the PRC
d. Quarterly accomplishments

---END---
WARNING: FAILURE TO SUBMIT YOUR TEST QUESTIONS COMPLETE SET WILL
CAUSE THE CANCELLATION OF YOUR TEST RESULTS FOR THE SUBJECT.


Prepared by:

ROLANDO A. DARAQUIT, JR., REA, REB, MBA
Real Estate Broker PRC License # 0014558
Real Estate Appraiser PRC License # 0004579
Member, Davao Board Education Committee
Member-PAREB-Davao Board of Realtors Foundation, Inc.
c/o Pag-IBIG Fund Davao Branch
email add: propertydavao@rocketmail.com
mobile number:09215747966/09076227087