PART 1

1.Real property includes the following

types of property:

a. Land
b. Buildings
c. Franchises and patents
d. All of the above

PART 1-B
191
 2. The right to possess, use, enjoy the
fruits, dispose, recover, and exclude
others from property is generally called
–

a. Civil rights
b. Bundle of rights
c. Constitutional rights
d. None of the above
PART 1-B
192
3. Under the Civil Code, rental income
from a building is considered a –

a. Civil fruit
b. Industrial fruit
c. Natural fruit of property
d. Commercial revenue

PART 1-B
193
 4. An absolute, unrestricted estate in
perpetuity to property is called –

a. Estate for years

b. Freehold
c. Tenancy
d. None of the above

PART 1-B
194
 5. The following is considered intangible
property –

a. Ownership of the air rights above land

b. Ownership of the building on the land
c. Ownership of a franchise contract
d. Ownership of the fruits of the trees on the
land

PART 1-B
195
6. The finder of hidden treasure in a property
not belonging to him is entitled to –

a. 0% of the treasure if he is not a trespasser

b. All of the treasure
c. 25% of the treasure if he is a trespasser
d. None of the treasure

PART 1-B
196
 7. When a river opens a new bed by its
natural flow in private land, the new bed
shall –

a. Be acquired by the government from the

private land owner;
b. Become a public dominion
c. Be exchanged for other public lands
d. None of the above.

PART 1-B
197
 8. The State’s power to take away private
property for public use upon just
compensation –

a. Taxation
b. Escheat
c. Eminent domain
d. Zoning

PART 1-B
198
 9. The State’s power to own a property left
by a person who died without an heir or a
will is –

a. Escheat
b. Eminent domain
c. State inheritance
d. Confiscation

PART 1-B
199
 10. Voluntary restrictions on property
ownership includes the following,
except –

a. Lease contracts
b. Easements
c. Taxes
d. Usufruct

PART 1-B
200
 11. Quieting of Title means –

a. To ban the Owner from obtaining a copy

of the property’s title
b. To bring to court an action involving a
question of ownership or rights to a
property
c. To cancel the title of the property
d. To apply for a new title to replace that
which was lost
PART 1-B
1
 12. The Philippine’s titling system is based
on the Torren’s system developed by a
person from –

a. Spanish colonial government

b. Australia
c. American government
d. Commonwealth government

PART 1-B
2
13. The title or property ownership granted
by the DENR is known as the –

a. Free patents
b. Confirmation of Title
c. Certificate of Land Ownership
d. Transfer Certificate of Title

PART 1-B
3
14.A form of property ownership document
issued by the Department of Agrarian
Reform –

a. Homestead patent
b. Transfer Certificate of Title
c. Certificate of Land Ownership
d. Warranty Deed

PART 1-B
4
 15. The following modes of acquiring title
are considered involuntary, except –

a. Expropriation
b. Foreclosure
c. Execution by Sheriff to satisfy judgment
d. Inheritance through a will of the decedent

PART 1-B
5
 16. A person who was born before
__________ of Filipino mother, foreign father,
can become a citizen of the Philippines at
the age of majority –

a. January 17, 1973

b. August 3, 1988
c. August 17, 1947
d. June 12, 1946
PART 1-B
6
17. Land that is classified as “public domain”
includes the following land not privately
owned, except –

a. Agricultural land
b. Forest
c. Mineral land
d. Farms owned by Filipino citizens

PART 1-B
7
18. The following lands of the public domain
may acquired by private citizens

a. Forest lands
b. Mineral lands
c. Old national parks
d. Agricultural lands

PART 1-B
8
19. Filipino citizens may acquire up to ______
of land that is alienable public domain –

a. 500 hectares;
b. 1000 hectares;
c. 10 hectares;
d. 12 hectares

PART 1-B
9
 20. A person can apply for ownership of
alienable agricultural land if he has
continuously occupied the same in good
faith and there are no other claimants/
applicants for –

a. 10 years
b. 15 years
c. 20 years
d. 30 years
 
PART 1-B
10
 21. Extraordinary adverse possession or
prescription in bad faith means that a
person can apply for ownership of
alienable agricultural land if he has
continuously occupied the same for --
a. 10 years
b. 15 years
c. 20 years
d. 30 years

PART 1-B
11
 22. Under the Civil Code, the following are
deemed personal property, except –
a. In general, all things which can be
transported from place to place;
b.Obligations   and   actions   which   have   for  
their   object movables or demandable sums;
c. Fertilizer actually used on a piece of land;
d.Shares  of  stock  of  agricultural, 
commercial  and  industrial entities, although
they may have real estate.
PART 1-B
12
23. A property that is fungible means that it is a
good or commodity which –

a. Can be transferred from one place to

another;
b. Can easily deteriorate ;
c. Can be substituted for another good or item.
d. Is liquid or easily sold

PART 1-B
13
24. Patrimonial properties of the State are –

a. Properties considered as public dominion

b. Properties owned by the State or any of its
instrumentalities in a private capacity
c. Properties expropriated by the State from the
private sector to be used for roads
d. Properties belonging to individuals working
in the government
PART 1-B
14
 25. Properties of public dominion are the
following, except –

a. Properties of the State intended for public

use by anybody;
b. Properties of the State reserved for the
development of national wealth like natural
resources
c. Properties of the State to be used for
public service
d. Properties of the State that can be sold to
the private sector
PART 1-B
15
26. The following is not a characteristic of a
property considered as public dominion –
a. The property is outside the commerce of
man, cannot be leased, donated or sold;
b. The property can not be registered under
the LRA
c. The property can be sold by the State
d. The property can not be acquired by
prescription.

PART 1-B
PAGE 16
 27. Former natural-born Filipinos can
acquire land for residential purposes, up
to 1,000 sq. meters urban areas or 1
hectare in rural areas, under –

a. R.A. 7042
b. B.P. 185
c. R.A. 10023
d. R.A. 9225

PART 1-B
PAGE 17
 28. Former natural-born Filipinos can also
acquire land for business purposes, up to
5,000 sqm in urban areas or 3 hectares in
rural areas, under –

a. R.A. 7042
b. B.P. 185
c. R.A. 10023
d. R.A. 9225

PART 1-B
PAGE 18
29. Former natural-born Filipinos can regain
their citizenship and be able to own land
without limit, under –

a. R.A. 7042
b. B.P. 185
c. R.A. 10023
d. R.A. 9225

PART 1-B
PAGE 19
30. Private corporations are entitled to own
private lands not in excess of ______
hectares if 60% of the capital is owned by
Filipinos entitled to acquire and own
private land –

a. 1,024 hectares.
b. 12 hectares .
c. 2000 hectares .
d. 50 hectares .
PART 1-B
PAGE 20
 31. Private corporations whose capital is
60% Filipino may lease up to ______
hectares of land:

a. 1,024 hectares.
b. 12 hectares.
c. 2000 hectares .
d. 50 hectares

PART 1-B
PAGE 21
 32. A written instrument used to transfer
title must have the following, except –

a. Grantor and grantee

b. Selling price of the property
c. Words of conveyance
d. Signature of Grantor and Notarization

PART 1-B
PAGE 22
 33. To be valid, a contract to sell or buy
property must have the following, except –

a. Consent of the contracting parties

b. Cause or consideration
c. An object certain
d. Approval of the government

PART 1-B
PAGE 23
 34. Co-ownership by both spouses of all
properties of the spouses acquired during
the marriage only, except for exclusive
properties, constitutes a property
relationship known as –

a. Absolute community
b. Absolute separation
c. Conjugal partnership of gains
d. None of the above
PART 1-B
PAGE 24
 35. Co-ownership by both spouses of
properties acquired before and during the
marriage, except for exclusive properties,
constitutes a property relationship known
as –

a. Absolute community
b. Absolute separation
c. Conjugal partnership of gains
d. None of the above
PART 1-B
PAGE 25
 36. A property acquired by gratuitous title
means –

a. A property purchased by only one of the

spouses
b. A property inherited by any of the
spouses
c. c. A property purchased using the money
of both spouses
d. A property won in a lottery
PART 1-B
PAGE 26
 37. The winnings of one of the spouses
from gambling shall become –

a. The spouse’s own personal exclusive

property
b. Co-owned by both spouses
c. The property of the entire family
d. Assets at the sole disposal of the lucky
spouse

PART 1-B
PAGE 27
 38. Jewelry bought and accumulated by a
wife is considered

a. Her personal property.

b. Co-owned by both spouses
c. Owned by the entire family
d. None of the above.

PART 1-B
PAGE 28
 39. In case of a disagreement as to the
administration of a co-owned property –

a. Both spouses must consult a court of law.

b. The entire family, including the children,
shall decide.
c. The husband’s decision shall prevail
d. The wife has the final decision.

PART 1-B
PAGE 29
 40. The following is not considered a
“muniment” of ownership –

a. Transfer certificate of title

b. Tax declaration.
c. Realty tax payment receipt
d. Affidavit of ownership

PART 1-B
PAGE 30
 41. In accordance with RESA Law, a Code of
Ethics shall be prepared by the ____________
and adopted for observance by all real
estate service practitioners.
a. All existing real estate service association
b. Accredited Integrated Professional
Organization
c. Professional Regulation Commission
d. Professional Regulatory Board for Real
Estate Service

PART 1-B
PAGE 31
42. Prior to the final approval of the new Code
of Ethics under RESA Law, the following has
been considered applicable –

a. No code of ethics
b. The Code of Ethics of each realty
association
c. The Golden Rule
d. National Code of Ethics for Realty Service
by DTI, 1993

PART 1-B
PAGE 32
 43. The “Golden Rule” is a universal guide
which means –

a. Treat others as you like them to treat

b. An eye for an eye
c. Do unto others as they do unto you
d. Treat others as if they are your family
e. To be fair to all

PART 1-B
PAGE 33
 44. The Rules of Conduct and Practice in
the Realty Code of Ethics defines the
practitioner’s relations to the following,
except --
a. Government and the public
b. His organization and the national
association to which it belongs
c. Clients/Customers and fellow
practitioners
d. His family, relatives and close friends
PART 1-B
PAGE 34
45. Which of the following is not needed by
the real estate service practitioner before
practicing –

a. Mayor’s permit with the LGU

b. Professional tax receipt from the LGU
c. BIR Certificate of registration
d. Professional I.D. and license from the
PRC
PART 1-B
PAGE 35
46. The following are the rules of conduct in
relation to the government, except –
a. Secure all needed permits and licenses
before practicing
b. Register and incorporate a corporation
with SEC or a business name with DTI
c. Assist government in zonification and
conservation of real estate
d. Do not abet, tolerate or participate in tax
evasion
PART 1-B
PAGE 36
 47. A real estate practitioner has the
obligation to inform government about
deceptive, unfair and unconscionable acts
of other unscrupulous practitioners as part
of his duty to –
a. Abide by the rules of conduct in relation to
government
b. Protect the interest of the public
c. Protect and promote the interest of his
clients
d. Abide by the rules of conduct ion relation
to fellow practitioners.
PART 1-B
PAGE 37
48. The real estate practitioner’s duty to the
public does not include –

a. Offering free consultancy services to the

public
b. Ensuring the highest and best use of land.
c. Not introducing in a neighborhood a use
of property which will impair its value
d. Presenting a true picture of property he
advertises
PART 1-B
PAGE 38
49. A real estate broker who has an authority
to sell from the seller may be guilty of
unethical conduct if he -

a. Pays a commission to another broker who

referred the buyer
b. Also asks for a commission from the
buyer
c. Pays a fee to a facilitator who helps
process the transfer of the property
d. None of the above are unethical
PART 1-B
PAGE 39
 50. A real estate broker’s application for
accreditation to sell a developer’s project
was approved only to find out that the
project does not yet have a license to sell.
The broker should –
a. Immediately resign his accreditation.
b. Refrain from selling the project until its
LTS has been approved.
c. Report the developer to the HLURB.
d. Do nothing.
PART 1-B
PAGE 40
 51. The relative of a prospective Buyer was the
one who referred the Buyer and is asking you as
a broker to over-price the property offered. Your
response shall be –

a. Refuse it outright at the risk of losing the sale.

b. Report the relative’s request of over-pricing to
the Buyer.
c. Instead, offer the relative a share of your
commission subject to prior disclosure to the
Buyer.
d. Cancel the transaction.
PART 1-B
PAGE 41
52. A broker who holds a non-exclusive authority
to sell writes letters to several real estate
organizations offering all their members an
extension listing, then informing his client that
he has extended his listing to several real
estate associations. His action can be
interpreted as –
a. A sign of his generosity because he is offering
an extension of his listing to large groups.
b. A sign of his desire to please his Client and
expedite the sale.
c. A strategy to pre-empt many other brokers
from applying for accreditation with the owner.
d. All of the above. PART 1-B
PAGE 42
 53. A real estate broker who just closed the
sale for his Client may agree to do the
following, except –
a. Prepare the deed of sale
b. Process the documents needed to
transfer the title for an extra facilitation fee
c. Rebate part of his commission to the
Buyer’s wife without his knowledge
d. Assist the Buyer to negotiate a mortgage
with a banking institution.
PART 1-B
PAGE 43
54. A broker receives several offers to buy for
one of the properties in his list. He should
–

a. Show the Client only the highest offer.

b. Show the Client the offer made by a
prospective buyer who is his distant relative.
c. Show the Client all the offers.
d. Show other offerors the highest offer so
they can top the price.

PART 1-B
PAGE 44
55. A seller’s broker receives several offers
for a property, none of them equal to or
higher than the Seller’s asking price. He
should –
a. Start negotiating with the Owner to reduce
the price.
b. Show the Owner all the offers for his
decision.
c. Start negotiating with the highest offeror
to increase his price.
d. All of the above actions are alright.

PART 1-B
PAGE 45
 56. A dispute has arisen between a broker’s
Client and one of the prospective buyers
who put in an earnest money but did not
proceed with the sale and is requesting a
refund. Both parties are in court. The
broker shall –

a. Testify in favor of his Client

b. Testify in favor of the Buyer
c. Testify only as to the facts in an unbiased
and honest manner
d. Refuse to participate in the court PART 1-B
proceedings. PAGE 46
 57. A broker finds out that another broker
who has an exclusive listing has not been
successful in selling a property for nearly a
year. He recently met the Owner’s relative
and may –
a. Approach the Owner and offer his services
b. Do not offer his services because it is
listed by another broker exclusively
c. Gain an introduction to the exclusive
broker and offer his services as co-broker
d. Do nothing and look for another listing.

PART 1-
B
58. A salesman who is accredited by a fellow
broker wishes to help you sell your listings
on a referral fee basis. As a professional
broker, you should –
a. Refuse to deal with the salesman of
another broker.
b. Immediately report the said salesman to
his principal.
c. Ask the salesman to seek permission from
his principal.
d. Offer to hire the salesman
PART 1-B
PAGE 48
59. A broker plans to post a sign giving notice
that the property is for sale. He should –
a. Post the sign without need for any
approvals
b. Post the sign but subject to prior approval
of the owner and other brokers who also
have a sign
c. Not post any signage at all
d. Post a shared sign with the other broker
who is also authorized to sell the property

PART 1-B
PAGE 49
 60. In case there is a controversy between
two brokers regarding the sharing of
commission, they shall –

a. Allow the Seller and the Buyer to decide

the sharing percentage.
b. File a case in court to resolve the issue.
c. Refer the problem to an Arbiter.
d. Refer the matter to their respective
lawyer.
PART 1-B
PAGE 50
61. Also known as a -- “valuer”, refers to a
person licensed to conduct valuation:

a. Assessor
b. Appraiser
c. Estimator
d. Value consultant

PART 1-B
PAGE 51
62. What aspects of real estate property are
included in the assessment made by an
assessor?

a. Land
b. Improvements
c. Plant, equipment and machinery
d. All of the above

PART 1-B
PAGE 52
63. The following are considered real estate
service practitioners, except:

a. Real estate consultant

b. Real estate appraiser
c. Real estate lenders
d. Real estate assessor
e. Real estate broker

PART 1-B
PAGE 53
 64. The Professional Regulatory Board of
Real Estate Service is composed of a
chairperson and –

a. 6 members
b. 5 members
c. 4 members
d. 3 members

PART 1-B
PAGE 54
 65. At least _____ members of the PRB-RES
shall represent government assessors
and appraisers:

a. Three
b. Two
c. One
d. None 

PART 1-B
PAGE 55
 66. Which of the following is not a required
qualification of the Chairperson and
Members of the PRB-RES?
a. A citizen and resident of the Philippines;
b. A holder of a bachelor's degree related to
real estate;
c. Licensed practitioner of real estate service
for at least 10 years prior to appointment;
d. An officer or trustee of the accredited
integrated organization for real estate
service;
e. Of good moral character, and must not
have been convicted by final judgment; PART 1-B
PAGE 56
67. The term of office of the chairperson and
the members of the PRB-RES is –

a. 7 years
b. 5 years
c. 3 years
d. Up to the president of the Phil.

PART 1-B
PAGE 57
 68. The following are the current basic
qualifications to be admitted to the
licensure examination for real estate broker,
except for --
a. A citizen of the Philippines;
b. A holder of a relevant bachelor's degree
from a state university or college, or other
educational
c. Institution duly recognized by the CHED:
d. Of good moral character, and must not
have been convicted of any crime involving
moral turpitude:
e. Experience of at least 2 years in any
occupation involving real estate service;
PART 1-B
PAGE 58
 69. All real estate brokers and private real
estate appraisers are required to post a
professional indemnity insurance/cash or
surety bond, renewable every3 years, in an
amount which in no case shall be less than
–

a. P 50,000.
b. P 40,000.
c. P 25,000.
d. P 20,000.
PART 1-B
PAGE 59
70. Which of the following acts requires
licensure in real estate service as a broker –

a. A person selling his own property, except

real estate developers;
b. A receiver, trustee or assignee in bankruptcy
or insolvency proceedings;
c. A person acting pursuant to the order of any
court of justice;
d. A person acting as attorney-in-fact to sell a
property without any compensation or
remuneration;
e. None of the above. PART 1-B
PAGE 60
 71. For real estate salespersons, no
examination shall be given, but they shall
be accredited by the Board provided they
have completed at least _____ years of
college :
a. 4 years
b. 3 years
c. 2 years
d. one year
e. No need
PART 1-B
PAGE 61
72. For partnerships or corporations engaged
in selling real estate, there shall at least be
one (1) licensed real estate broker for every
_____ accredited salespersons.

a. 25
b. 20
c. 15
d. 10
e. 5
PART 1-B
PAGE 62
73. The following information is not required
in signing documents in connection with the
practice of real estate service:

a. Certificate of registration number with PRC

b. Privilege Tax Receipt number and expiry
date
c. BIR Certificate of registration Number and
expiry date
d. Professional Identification Card expiry date
e. APO membership number and expiry date

PART 1-B
PAGE 63
74. The PRC released Resolution 2013-774
effective August 10, 2013 which pertains
to –

a. Revised fees for renewal of licenses

b. List of newly-passed appraisers
c. Schedule of the 2014 board
examinations
d. CPD Guidelines

PART 1-B
PAGE 64
 75. The PRC Modernization Act –

a. R.A. 8981
b. R.A. 8974
c. R.A. 8532
d. R.A.8435

PART 1-B
PAGE 65
76. The requirement for renewal of licenses
of real estate practitioners once every 3
years is –

a. 30 CPD units
b. 45 CPD units
c. 60 CPD units
d. 12 CPD units

PART 1-B
PAGE 66
77. For every hour of lecture, a resource
speaker or lecturer can earn the following
number of CPD units –

a. One (1)
b. Three (3)
c. Four (4)
d. Five (5)

PART 1-B
PAGE 67
78. The following activities are entitled to
CPD credit units as part of “self-directed
learning” , EXCEPT –

a. Real estate training module on the internet

b. Research paper on real estate industry
c. Read a new book on real estate service
d. Relevant short-term post-graduate course

PART 1-B
PAGE 68
79. The CPD Council for Real Estate Service
is composed of ____ members.

a. Five (5)
b .Four (4).
c .Three (3)
d. Two (2).

PART 1-B
PAGE 69
 80. The IRR of R.A. 9646 was enacted in –

a. June 2009.
b. July 2009 .
c. June 2010 .
d. July 2010.

PART 1-B
PAGE 70
 81. The basic law governing persons,
properties, obligations and contracts.

a. 1987 Constitution.
b. E.O. 209 Family Code.
c. R.A. 386, Civil Code
d. R.A. 8424.

PART 1-B
PAGE 71
 82. The basic law governing relationships
between spouses.

a. 1987 Constitution.
b. b. E.O. 209 Family Code .
c. R.A. 386, Civil Code.
d. R.A. 8424.

PART 1-B
PAGE 72
 83. The basic law governing national
taxation.

a. 1987 Constitution.
b. E.O. 209 Family Code.
c. R.A. 386, Civil Code.
d. R.A. 8424

PART 1-B
PAGE 73
84. The law allowing former natural-born
Filipinos to re-acquire citizenship

a. 1987 Constitution.
b. R.A. 9225 .
c. R.A. 7042.
d. R.A. 6809.

PART 1-B
PAGE 74
 85. The law which reduced the age of
majority to 18 years old –

a. 1987 Constitution
b. RA 9225
c. RA 7042
d. RA 6809

PART 1-B
PAGE 75
 86. The law allowing former Filipinos to
acquire land for residential purposes.

a. 1987 Constitution.
b. R.A. 9225.
c. R.A. 7042 amended by RA 8179.
d. B.P. 185 .

PART 1-B
PAGE 76
 87. The law allowing former Filipinos to
acquire land for business purposes.

a. 1987 Constitution.
b. R.A. 9225.
c. R.A. 7042
d. B.P. 185.

PART 1-B
PAGE 77
88. The law which allows aliens to lease
land for 25 years, renewable another 25
years –

a. RA 6552
b. PD 471
c. RA 7042
d. RA 8179

PART 1-B
PAGE 78
89. The law which allows alien investors to
lease land for 50 years, renewable another
25 years –

a. RA 7652
b. PD 471
c. RA 7042
d. RA 8179

PART 1-B
PAGE 79
 90. The law that established the Torrens
system in the Philippines.

a. Act 926.
b. Act 496 .
c. Act 2259.
d. C.A. 141.

PART 1-B
PAGE80
91. The law which prescribed the rules for
administrative reconstitution of lost titles
–

a. PD 1529
b. RA 6732
c. RA 8974
d. PD 892

PART 1-B
PAGE 81
92. The Magna Carta for Homeowners and
Homeowners Associations –

a. RA 6552
b. RA 9225
c. RA 8974
d. RA 9904

PART 1-B
PAGE 82
93. Also known as the Property Registration
Decree which updated Act 496.

a. P.D. 1529.
b. R.A. 6732 .
c. R.A. 8974.
d. P.D. 892.

PART 1-B
PAGE 83
 94. The Land Computerization Project of
the LRA will not allow the following –

a. Query on land titles from any RD office

nationwide
b. Conversion of paper documents into digital
files
c. Speeding up the process of generating and
issuing digital copies of titles
d. Guaranteeing that there will be no fake titles

PART 1-B
PAGE 84
 95. In the Commonwealth era, C.A. 141
became the new Public Land Act and
provided for the following, except –

a. Allowed both judicial and administrative

proceedings for land titling
b. Re-affirmed land distribution through
patents
c. Establish the system for taxation of land.
d. Allowed patents to be brought into the
Torrens system PART 1-B
PAGE 85
 96. The government agency in charge of
administering, surveying and disposing
“Alienable and Disposable (A&D) lands –

a. Land Management Bureau.

b. National Housing Authority
c. Land Registration Authority
d. Housing & Land Use Regulatory Board

PART 1-B
PAGE 86
97. The Land Management Bureau is under
the jurisdiction of the –

a. DENR
b. DAR
c. DPWH
d. DOJ

PART 1-B
PAGE 87
98. The field offices of the Land Registration
Authority is known as –

a. Civil register
b. Land registration commission
c. Register of Deeds.
d. General Land Registration Office

PART 1-B
PAGE 88
 99. A homestead is a piece of property
awarded to a beneficiary under the
following rule –

a. He must build a home within five years of

award
b. He must begin to cultivate the land within 6
months
c. He must finish building a farm on the
property within one year
d. He need not reside in the property PART 1-B
PAGE 89
 100. R.A. 10023 enacted in 2010, provides
for A FREE patent for residential land with
the following limitations –

a. Maximum of 1,000 sqm urban land or 1

hectare rural land
b. Maximum 200 sqm highly urban, 500 in
other cities, 750 sqm in first-second class
municipalities,
c. 1,000 sqm in other municipalities.
d. Maximum of 3 hectares
e. Maximum of 12 hectares
PART 1-B
PAGE 90
101. A procedure which allows a person to
file an action that will record his claim in a
property titled to another person –

a. Property complaint
b. Lis pendens
c. Adverse claim
d. Petition to quiet title

PART 1-B
PAGE 91
102. The State’s power to own a property
left by a person who died without an heir
or a will is –

a. State inheritance
b. Escheat
c. Eminent domain
d. Confiscation

PART 1-B
PAGE 92
103. The Torrens system of land registration
was established in the Philippines by
virtue of –

a. Spanish mortgage law

b. Act 496 (1903)
c. Presidential Decree 27
d. R.A. 6557

PART 1-B
PAGE 93
104. Which of the following documents
does not fall under the Torrens system –

a. Original certificate of title

c. Transfer certificate of title
b. Reconstituted certificate of title
d. Cooperative certificate of title
e. Condominium certificate of title

PART 1-B
PAGE 94
105. A new title to property to be created
through an administrative procedure by
the concerned government agency will
require the issuance of a –

a. Decree of registration
b. Patent
c. Land ownership award
d. Original certificate of title

PART 1-B
PAGE 95
106. Under R.A. 6732, administrative
resolution of lost or destroyed original
copies of titles can be availed of when the
certificates lost or destroy are at least.

a. 10% of all titles in the registry

b. 30% of all titles in the registry
c. 20% of all titles in the registry
d. 40% of all titles in the registry
e. None of the above
PART 1-B
PAGE 96
 107. A 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
decedents estate within --
a. 2 years
b. 4 years
c. 6 years
d. 10 years
e. None of the above
PART 1-B
PAGE 97
 108. Recording of a real estate instrument
can be given due course even without the
presentation of the owner’s duplicate
certificate of title when the document is:
a. Notice of adverse claim
b. Notice of Lis Pendens
c. Writ of attachment
d. All of the above
e. None of the above

PART 1-B
PAGE 98
 109. Which of the following are not
considered money claims or charges
against the property --
a. Real estate tax liens
b. Mechanic’s Liens
c. Mortgage lien
d. Judgment Liens
e. Deed of restrictions

PART 1-B
PAGE 99
 110. When a claim contesting ownership
of property is brought to court litigation,
the following may be annotated in the
back of the certificate of title –

a. Real estate lien

b. Lis pendens
c. Deed of restrictions
d. All of the above

PART 1-B
PAGE 100
111. The Land Registration Authority (LRA)
is an agency under the jurisdiction of –

a. Office of the president

b. DENR
c. DOJ
d. DILG

PART 1-B
PAGE 101
112. The document issued by the BIR which
is required for titling –

a. Tax clearance certificate

b. Certificate authorizing registration
c. Certificate of registration
d. All of the above

PART 1-B
PAGE 102
113. The term “patrimonial property” applies
to –
a. Land owned by the government which is
not intended for public use
b. Land for public use like roads, canals,
rivers, ports and bridges
c. Land owned by the State and classified
as agricultural
d. Ancestral lands owned by original
settlers
PART 1-B
PAGE 103
114. An form of land ownership document
issued as the initial part of agrarian reform
proceedings –

a. Homestead patent
b. Free patent
c. Certificate of land ownership
d. Original certificate of title

PART 1-B
PAGE 104
115. R.A. 6552 or the Realty Installment Buyer
Act covers the following –

a. Installment sales of all kinds of real estate

properties;
b. Installment sales of residential properties
where buyer has paid for 2 years;
c. Installment sales for residential condos
only.
d. Installment sales for properties with a
mortgage.

PART 1-B
PAGE 105
116. Under R.A. 6552, an installment buyer
has the following grace period –

a. Minimum of 60 days;
b. One month for every year of installment
payments made;
c. Thirty days.
d. Both “A” and “B” are applicable.

PART 1-B
PAGE 106
117. Under R.A. 6552, the installment buyer
whose contract is cancelled can get a partial
refund equal to -

a. 100% of all installment payments minus the

developer’ sales expenses;
b. 50% of total payments regardless of how
long the buyer has been paying;
c. 50% of total payments plus additional of 5%
per year in excess of 5 years, maximum at
90%;
d. 50% of total payments plus additional of 5%
per year of installment.
PART 1-B
PAGE 107
118. A buyer who has been paying monthly
installments of PhP 12,500 for 8 years and
3 months decided to quit. How much is
the cash surrender value?

a. PhP 600,000.
b. PhP 618,750.
c. PhP 804,375.
d. PhP 819,843

PART 1-B
PAGE 108
119. The following types of taxes apply to
real estate transactions, except –

a. Value-added tax
b. Creditable income tax
c. Excise tax.
d. Percentage tax

PART 1-B
PAGE 109
120. In computing the amount of value-
added tax to be paid in a real estate
transaction, the following is not
considered –

a. Gross receipts
b. Output tax
c. Input tax
d. Documentary stamp tax

PART 1-B
PAGE 110
121. If the selling price of P 2,240,000.
already includes the VAT, and the sales
occurred after Feb. 1, 2006, then the net
price is –

a. P 2,000,000.00.
b. P 1,971,200.00
c. P 2,508,800.00
d. None of the above.

PART 1-B
PAGE 111
122. The sale of a house and lot by a
developer at a price below this amount is
exempted from VAT –

a. P 1,919,500
b. P 3,199,200.
c. P 1,500,000.
d. P 2,500.000.

PART 1-B
PAGE 112
123. As a real estate broker, if your total
gross receipts in one year is below this
amount, you can apply to be a non-VAT
entity –

a. P 1,500,000.
b. P 1,919,500..
c. P 2,500,000.
d. P 3,199,200.

PART 1-B
PAGE 113
124. Lease of residential units below this
amount per month is not subject to VAT –

a. P 10,000.
b. P 12,000.
c. P 12,500.
d. P 12,800.

PART 1-B
PAGE 114
125. This tax is not imposed by the Bureau
of Internal Revenue –

a. Income tax
b. Value-added tax
c. Percentage tax
d. Documentary stamps tax
e. None of the above

PART 1-B
PAGE 115
126. The following tax is imposed by the
Bureau of Internal Revenue:

a. Transfer tax
b. Capital gains tax
c. Realty tax
d. Privilege tax

PART 1-B
PAGE 116
127. For taxation purposes, “Gross selling
price” in the sale of property by a VAT-
registered entity means –

a. Total amount involved, excluding VAT

b. Total amount involved, excluding
commission
c. Total amount involved, including VAT
d. Total amount involved, including
commission
PART 1-B
PAGE 117
128. The sale of the following is not exempt
from VAT –

a. Sale of agricultural and marine products

b. Revenue of medical and educational
services
c. Services that are subject to percentage ta
d. None of the above

PART 1-B
PAGE 118
129. VAT returns (form 2550M) containing
the amount of net output tax payable must
be filed

a. Monthly
b. Quarterly
c. Annually
d. None of the above

PART 1-B
PAGE 119
 130. In lieu of the VAT, a person whose
sales or receipts is exempt from payment
of VAT and who is not a VAT-registered
person, does not have to pay the following
tax –

a. Creditable withholding tax

b. Percentage tax
c. Output tax
d. Privilege tax
PART 1-B
PAGE 120
 131. The owner wants a net proceed of P1,
750,000.00 exclusive of capital gain tax,
documentary stamps and 5% broker’s
commission. How much would be the
selling price so that the broker can maintain
his 5% commission?

a. P 1,668,750.00
b. P 1,680,000.00
c. P 2,000,000.00.
d. d. P 2,200,000.00

PART 1-B
PAGE 121
132. The bank’s acquired assets which form
part of its real estate inventories at the
close of its accounting period shall be
classified as:

a. Ordinary assets
b. Capital assets
c. Fixed assets
d. None of the above

PART 1-B
PAGE 122
133. The BIR Revenue Regulation No. 17-2003,
the seller of family home who failed to
utilize the proceeds to acquire a new
residence within 18 months from the sale
shall be assessed additional deficiency
capital gains tax inclusive of penalties and
interest of --

a. 10% per annum

b. 20% per annum
c. 15% per annum
d. 25% per annum
PART 1-B
PAGE 123
134. The annual registration fee for VAT-
registered entity is –

a. 500.00
b. P1,000.00
c. P1,500.00
d. None of the above

PART 1-B
PAGE 124
135. The documentary stamp tax on the sale
of the property must be paid –

a. Within 30 days from the date of

notarization
b. Within five (5) days after the close of the
month of the date of sale.
c. Within ten (10) days after the close of the
month of the date of sale
d. At the time of payment of the capital gains
tax

PART 1-B
PAGE 125
136. If the property is an ordinary asset,
what is the applicable tax?

a. Capital gains tax

b. Percentage tax
c. Creditable Withholding Tax.
d. Excise tax
e. Estate Tax

PART 1-B
PAGE 126
 137. Under the Local Government Code,
agricultural lands more than one hectare
are subject to additional tax of not more
than 5% assessed value when at least:

a. One-half of the area is uncultivated.

b. Forty percent of the area is uncultivated
c. The entire is cultivated
d. Thirty percent of the area is uncultivated
e. None of the above
138. The chairman of the Local Board of
Assessment Appeals in a city is:

a. City auditor
b. City mayor
c. City Engineer
d. City register deeds
e. None of the above

PART 1-B
PAGE 128
139. The rate of real estate tax in
municipalities within the Metro Manila is
not more than:

a. One-half percent of assessed value

b. One percent of assessed value
c. Two percent of assessed value.
d. None of the above

PART 1-B
PAGE 129
 140. Per BIR 28-98, the ground floor of a
condominium project shall be considered
as commercial and an additional rate shall
be added to an established residential
zonal value.
a. 10%
b. 20%
c. 25%
d. 50%
e. None of the above
PART 1-B
PAGE 130
141. As annual levy on real estate equivalent
to 1% of assessed value which shall be in
additional to be basis real estate tax is:

a. Special real estate tax

b. Special education fund tax.
c. Ad valorem tax
d. Special assessment fund tax
e. Excise tax
 
PART 1-B
PAGE 131
142. The value placed on taxable property
by the assessor for ad valorem tax
purpose is:

a. Market value.
b. Economic value
c. Assessed value
d. Assessment value
e. Appraised value

PART 1-B
PAGE 132
143. The documentary stamp tax for a deed
of real estate mortgage is:

a. P15.00 for every P1,000.00 of the

mortgage amount
b. P10.00 for every P1,000.00 of the
mortgage amount
c. P10.00 for the first P5,000.00 of the
mortgage amount plus P5.00 for every P5,
000.00 thereafter
d. P20.00 for the first P5,000.00 of the
mortgage plus P10.00 for every P5,000.00
thereafter
PART 1-B
PAGE 133
144. Unless validated, tax credit life span is
only

a. 1 year
b. 2 years
c. 3 years
d. 4 years
e. 5 years

PART 1-B
PAGE 134
145. In payment of real estate tax, an allowed
deduction to the gross estate of a decedent
is funeral expense which is:

a. 5% of gross estate or P200,000.00

whichever is lower
b. 5% of gross estate or P200,000.00
whichever is higher
c. 10% of gross estate or P200,000.00
whichever is lower
d. 10% of gross estate or P200,000.00
whichever is higher
e. None of the above
PART 1-B
PAGE 135
 146. A tax fixed on documents,
instruments and papers evidencing the
acceptance, assignment or sale of a right,
property or obligation:

a. Residence tax
b. Documentary Stamp
c. Value added tax
d. Community tax
e. None of the above
PART 1-B
PAGE 136
147. The zonal value of property can be
obtained from:

a. Assessor’s Office
b. Land Registration Authority
c. Bureau of Internal Revenue.
d. All of the above

PART 1-B
PAGE 137
 148. The rate of creditable withholding tax in
the sale of real estate property classified as
ordinary asset by an individual, estate, trust
or corporation not habitually engaged in
real estate business is:

a. 3%
b. 5%
c. 7%
d. None of the above

PART 1-B
PAGE 138
149. Capital gains tax on the sale of real
estate classified as capital asset is:

a. Creditable tax on the sale

b. Deductible item from income taxc.
c. Deductible item from value added tax
d. Expanded withholding tax
e. Pre-paid income tax.

PART 1-B
PAGE 139
 150. The schedule of fair market value in
municipalities in Metro Manila is prepared
by:

a. MMDA
b. Concerned municipal assessors.
c. Sanggunian Bayan by ordinance
d. Bureau of Internal Revenue
e. None of the above
PART 1-B
PAGE 140
 151. The following compose the Board of
Assessment Appeals in Makati City,
except:

a. Registry of deeds.
b. City Assessors
c. City Prosecutor
d. City Engineer

PART 1-B
PAGE 141
152. A tax payer has _____ to redeem his real
property which was levied and
subsequently forfeited and acquired by
the local government for tax delinquency.

a. 1 year.
b. 4 years
c. 60 days
d. 3 years
PART 1-B
PAGE 142
153. For purpose of determining whether
seller / transferor can be considered as
habitually engaged in real estate business,
he should offer satisfactory evidence that
he consummated least ____ taxable real
estate transaction during the preceding year.
a. Five
b. Six
c. Eight
d. Ten
e. Twelve
PART 1-B
PAGE 143
 154. Under the new BIR Ruling, acquired
asset of banks regardless of amount are
subject to the creditable withholding tax of:

a. 1.5%
b. 3.0%
c. 5.0%
d. 6.0%

PART 1-B
PAGE 144
 155. The seller realized a 30% gross over
his cost. If the property was sold at P1,950,
000.00 the cost is –

a. P1,365,000.00
b. P1,500,000.00
c. P 1,560,000.00
d. P 1,350,000.00

PART 1-B
PAGE 145
156. Property held as inventory or stock in
trade of buy and sell business and in
connection with trade, business or source
of income is:

a. Capital asset
b. Fixed asset
c. None of the above
d. Ordinary Asset
e. Intangible asset
PART 1-B
PAGE 146
 157. In case a false or fraudulent estate,
donor or capital gains tax BIR form was
willfully made how much surcharge based
on the deficiency shall be imposed?

a. 20%
b. 25%
c. 30%
d. 50%

PART 1-B
PAGE 147
158. In a sale of property on installment
plan where the buyer is not engaged in
trade or business, the applicable rate of
tax is based on --
a. Gross selling price
b. Fair market value
c. A or b whichever is higher.
d. Assets value

PART 1-B
PAGE 148
 159. In case of sale of real property paid
under deferred payment basis, the
payment of the documentary stamp tax
shall accrue upon --

a. Notarization of transfer document.

b. Execution of the Deed of Absolute Sale
c. Execution of Contract to Sell
d. Payment of the full amount
PART 1-B
PAGE 149
 160. The schedule of market value for ad
valorem tax in municipalities outside
Metro Manila is prepared by:

a. Municipal Assessors
b. Sanggunian Panglalawigan
c. Provincial Assessors.
d. Provincial treasurer

PART 1-B
PAGE 150
 161. The amount of family home
equivalent to fair market consideration as
allowable deduction from the estate of a
decedent.

a. P500,000.00
b. P1,000,000.00
c. P2,000,000
d. P 750,000.00
PART 1-B
PAGE 151
162. The zonal value of a property can be
obtained from:

a. Bureau of Internal Revenue.

b. Office of the sheriff
c. Registry of deeds
d. Assessor’s Office
e. Land Registration Authority

PART 1-B
PAGE 152
 163. The creditable withholding tax rate in
the sale of a real estate dealer of a lot
priced at P220,000.00 is –

a. 1.5%.
b. 7.5 %
c . 3.0%
d. 2.5%
e. 5.0%
PART 1-B
PAGE 153
 164. The sale and transfer of title from a
real estate dealer to a buyer of a house
and lot at P2,000,000.00 is subject to the
following EXCEPT:

a. Creditable withholding tax

b. Expanded value added tax
c. Transfer and registration fees.
d. Capital gains tax
e. Documentary stamp tax PART 1-B
PAGE 154
 165. For the exemption on the payment of
capital gains to be valid, within how many
months after the sale or disposition of a
residential unit is it allowed ?

a. 9 months
b. 36 months
c. 24 months
d. 12months
e. 18 months
PART 1-B
PAGE 155
166. The estate tax return shall be filed with
the BIR within:

a. 60 days from death of decedent

b. 90 days from death of decedent
c. 120 days from death of decedent
d. 180 days from death of decedent.

PART 1-B
PAGE 156
 167. Unless extended for justifiable cause,
the period of completion of development
of a subdivision project, counted from
issuance of license to sell, is:

a. Six months
b. Eighteen months
c. Twelve months
d. Twenty four months

PART 1-B
PAGE 157
 168. Registration of a mortgage covering a
subdivision project can only be affected
when the deed is accompanied by a
permit to mortgage issued by:
a. Local government unit
b. Home Insurance Guarantee Corporation
c. National Housing Authority
d. Housing and Urban Development
Coordinating Council
e. Housing and Land Use Regulatory Board
PART 1-B
PAGE 158
 169. In the absence of any provision in the
master deed of a condominium project,
the interest of the unit owners in the
common area shall be:

a. Proportionate
b. Based on value
c. Equal
d. Decided by the condominium corporation
PART 1-B
PAGE 159
170. Fixed object point established by
surveyor to establish land location:

a. Boundary mark
b. Post
c. Monument
d. Cylindrical concrete

PART 1-B
PAGE 160
171. Condominium Act:

a. R.A. 4727
b. R.A. 4276
c. R.A. 2774
d. R.A. 4726

PART 1-B
PAGE 161
172. Document to be checked before buying
a subdivision lot:

a. Development permit
b. Map
c. License to sell
d. Bureau of land approval

PART 1-B
PAGE 162
173. Sometimes referred to as vertical
subdivision:

a. Row houses
b. Mansion
c. Town houses
d. Condominium

PART 1-B
PAGE 163
174. Subdivision and Condominium Buyer
Protective Decree:

a. P.D. 1216
b. P.D. 957
c. B.P. 220
d. P.D. 1081 

PART 1-B
PAGE 164
175. Which of the following cannot be
issued condominium certificates of titles:

a. One-level row houses

b. Industrial warehouses
c. Two-level row houses
d. Subdivision lots

PART 1-B
PAGE 165
176. Title of condominium units belong to:
a. Corporation owning the building
b. Association of the building
c. Owners of condominium unit
d. Lot owner of the condominium building

PART 1-B
PAGE 166
177. The required number of votes of
registered owners to authorize a
condominium corporation to sell, or
otherwise dispose of the common areas
in a condominium project is:

a. Two-thirds
b. Unanimous
c. Three-fourths
d. Simple majority
PART 1-B
PAGE 167
178. Jurisdiction for adjudication of buyers’
complaints against subdivision
developers is with the:
a. Bureau of Trade Regulation and
Consumer Protection
b. National Housing Authority
c. Regular Courts
d. Housing and Urban Development
Coordinating Council
e. Housing and Land Use Regulatory Board
PART 1-B
PAGE 168
179. The performance bond for a
subdivision project may be in the form of
a surety bond equivalent to:

a. 10% of development
b. 40% of development cost
c. 10% of development cost
d. 30% of development cost

PART 1-B
PAGE 169
180. The term of a condominium
corporation is:

a. 50 years
b. 5 years
c. Co-terminus with duration of
condominium projects
d. Subject to agreement between the
condominium corporation and the unit
owners.
PART 1-B
PAGE 170
181. The articles of incorporation of
homeowners association is registered
with:

a. Securities and Exchange Commission

b. Home Guaranty Corporation
c. Housing and Land Use Regulatory Board
d. Bureau of Trade Regulation and
Consumer Protection

PART 1-B
PAGE 171
182. In mixed use condominium project, the
master deed may be amended by simple
majority of unit owners. Majority is based
on.

a. Number of condo units

b. Total area of condo units
c. Floor area of ownership
d. Any of the above

PART 1-B
PAGE 172
183. A subdivision plan needs only the
approval of the Land Registration or Land
Management Bureau to effect segregation
of titles when the resulting number of lot
is:

a. Nine (9) or less

b. Twelve (12) or less
c. Ten (10)or less
d. Fifteen (15) or less
PART 1-B
PAGE 173
184. The body which formulates the policies
and objectives as well as the over-all
strategies for the county’s national shelter
program is:

a. National Housing Authority

b. Housing and Urban Development
Coordinating Council
c. Housing and Land Use Regulatory Board
d. None of the above
PART 1-B
PAGE 174
185. A buyer of real estate has already paid
in 8 years of installment a total amount of
P520,000.00 inclusive of P20,000.00
penalty interest. The cash surrender value
of the property based on Maceda Law is:

a. P200,000.00
b. P325,000.00
c. P250,000.00
d. None of the above
PART 1-B
PAGE 175
186. Most important document to be
checked before buying a subdivision lot.

a. Map
b. License to sell
c. Subdivision plan
d. Bureau of Land’s approval
e. Development permit

PART 1-B
PAGE 176
187. A buyer on installment who has paid at
least two years of installments, under
Republic Act No. 6552, is entitled to a refund
or 50% of total payments effected during the
first five years and an additional ____ every
year but not to exceed 90% of total payments
made.

a. 5%
b. 50%
c. 20%
d. 30%
e. 10%
PART 1-B
PAGE 177
188. A parcel of land subdivided into smaller
parcels without provisions for streets or
open spaces is a –

a. Regular subdivision
b. Complex subdivision
c. Consolidation-subdivision
d. Simple subdivision

PART 1-B
PAGE 178
189. A parcel of land subdivided into smaller
lots properly planned with streets and
open spaces is –

a. Regular subdivision
b. Complex subdivision
c. Consolidation-subdivision
d. Simple subdivision

PART 1-B
PAGE 179
180. Subdivision planning that is recti-linear,
blocks, lots and streets arrayed in a
rectangular pattern.

a. Contour planning
b. Modern planning
c. Gridiron planning
d. Square planning

PART 1-B
PAGE 180
191. Subdivision planning that arranges all
elements to closely fit into the terrain of
the land.

a. Contour planning
b. Modern planning
c. Gridiron planning
d. Square planning

PART 1-B
PAGE 181
192. A street that leads into a bell-shaped
end.

a. Dead-end
b. Driveway
c. Cul-de-sac
d. d. Provisional street

PART 1-B
PAGE 182
 193. A lot with single frontage, all sides
bounded by a neighboring lot.

a. Regular lot
b. Interior lot
c. Standard lot
d. Inside lot

PART 1-B
PAGE 183
194. A lot with 2 perpendicular sides
fronting a street.

a. Key Lot
b. Corner-Through Lot
c. Corner Lot
d. Flag Lot

PART 1-B
PAGE 184
195. A lot in which the front and rear sides
are fronting a street.

a. Corner lot
b. Flag lot
c. Corner lot
d. Through lot

PART 1-B
PAGE 185
196. A lot that does not have a frontage and
is accessed only through a driveway.

a. Interior lot
b. Flag lot
c. Through lot
d. Inside lot

PART 1-B
PAGE 186
197. Any particular lot that commands a
higher value because of its location.

a. Prime lot
b. High-end lot
c. Through lot
d. Key lot

PART 1-B
PAGE 187
198. The curvilinear side of a lot occurring
at a street corner.

a. Corner curve
b. Corner cut
c. Chaplan
d. Quarter round

PART 1-B
PAGE 188
199. A lot with 3 sides fronting streets.

a. Key Lot
b. Corner-Through Lot
c. Corner Lot
d. Flag Lot

PART 1-B
PAGE 189
200. The law that prescribes the amount of
open spaces for subdivisions –

a. PD 1096
b. PD 1216
c. PD 957
d. PD 1517

PART 1-B
190