Final Coaching 2014 Mock Exam

I. GENERAL/FUNDAMENTALS OF REAL ESTATE

Choose the BEST Answer

B. P 3,500
C. P 5,250
D. P 10,500

1. Those who had passed the DTI licensure examinations in 2007 and
prior years but failed to obtain their license
upon effectivity of R.A .No. 9646 may still register upon effectivity of
the RESA without examinations provided
they have earned CEP or CPE units as follows:
A. 120 CEP or CPE credit units
B. 12 CEP or CPE credit units
C. 15 CEP or CPE credit units
D. 18 CEP or CPE credit units

12. Corporations or partnerships may acquire land in the Philippines

provided that it is
A. Not more than 1000 has.
B. Not more than 40% foreign capital
C. Not more than 5 hectares
D. Not more than 1 hectare for residential land
13. The following is not exempted from basic real estate tax imposed
by the city :
A. Real property owned by the Republic of the Philippines
B. All lands, buildings and improvements actually, directly and
exclusively used for charitable, religious or educational purposes;
C. Private cemeteries or burial grounds;
D. Machineries and equipment that are actually, directly and
exclusively used by local water district and
government owned or controlled corporations engaged in the supply of
water and/or generation of electric
power

2. Ownership of land in the Philippines is governed by law such as, the

1987 Philippine Constitution. In addition,
it may also be provided by
A. Executive Order of the President
B. Special laws of the Legislature
C. House Bills in Congress
D. Special Exemption Orders
3. The principle that states that all lands of the public domain belong to
the state is referred to as
A. Public domain doctrine
B. Regalian doctrine
C. Patrimonial doctrine
D. State doctrine

14. David, an Australian citizen, may not be allowed to own the

following property in the Philippines
A. Residential condominium unit
B. Commercial Office condominium unit
C. House and lot
D. House built on leased land

4. As a real estate practitioner, we should but not:

A. willingly share the lessons and experiences with fellow brokers
B. solicit a listing currently listed exclusively with another broker
C. pass a listing to a third broker without the knowledge and consent of
the listing broker
D. put sign or notice of a property for sale without authority from the
owner

15. Janet wants to become a dual citizen, while in the Philippines, she
must file a petition for dual citizenship with
this government agency
A. Department of Foreign Affairs
B. Philippine Embassy
C. Bureau of Civil Registry
D. Bureau of Immigration

5. Under the law, private corporations and associations may hold such
alienable lands of the public domain only
by lease, not to exceed a total area of
A. 1,000 has.
B. 500 has.
C. 12 has.
D. 3 has.

16. The Register of Deeds required an affidavit of waiver from a

foreigner who is married to a Filipina to register
the sale, which is considered
A. A valid requirement of the Register of Deeds
B. Void
C. Voidable
D. Required only if the foreigner is a husband

6. The national integrated organization of natural persons duly

registered and licensed as Real Estate Service
Practitioners is called
A. Accredited Practitioners Organization
B. Integrated and Accredited Professional Practitioners
C. Accredited and Integrated Professional Organization
D. Accredited and Integrated National Organization

17. The best evidence of ownership of a condominium unit is

A. Tax declaration of the condo unit
B. Condominium Certificate of title
C. Transfer certificate of title
D. Contract to sell on the unit

7. An idle land consisting of 2.5 hectares valued at P 100 per square

meter was being taxed by the municipal
assessor and classified as agricultural. If the idle land tax imposed is
4% by the ordinance, how much will the
owner pay for idle land tax ?
A. P 40,000
B. P 100,000
C. P 20,000
D. P 50,000

18. The Family Code of the Philippines, under EO 209, became

effective on
A. August 3, 1988
B. August 3, 1996
C. August 8, 1988
D. August 1, 1988
19. For the acquisition of a residential condominium unit by a former
natural born citizen who has become a
foreigner, it is required that
A. Execute a sworn statement under BP 185
B. Must become a dual citizen
C. Not used in buy and sell of property
D. Not exceed 40% of the units

8. The power of the state to regulate the use of ones property for legal
purposes only is referred to as
A. Escheat
B. Eminent domain
C. Police power
D. Power to issue permit

20. The Board, in coordination with the AIPO of real estate service
practitioners, shall prepare, update and
maintain a roster of real estate service practitioners which shall contain
the following information, except
A. names of all registered real estate service practitioners
B. field of specialization in real estate service
C. their residence and office addresses
D. license numbers

9. In determining the value of the house and the tax declaration being
presented was issued 3 or more years, the
seller shall submit the following to the BIR
A. An updated tax declaration
B. The latest tax declaration
C. Certification from the Assessor whether the same is still the latest or
not
D. Certification of improvement by the Assessor

21. It is the conveyance of the right to enjoy the fruits of the property
owned by a person.
A. Contract of lease
B. Usufruct
C. Right of way
D. Sale of property

10. It is the right given to an owner of an adjoining land to pass or have

access thru another land is called
A. Right of way easement
B. Right of way passage
C. Right of way for people
D. Right o way encroachment

22. For Cebu City, the basic tax it may charge for real estate taxes
shall be
A. Not exceeding 1% of the assessed value
B. Not exceeding 1% of the fair market value
C. Not exceeding 2% of the fair market value
D. Not exceeding 2% of the assessed value

11. A lessee who rented out an office space will pay his monthly rental
to the owner in the amount of P35,000 per
month and a deposit of P70,000. How much withholding tax must he
deduct from the payment
A. P 1,750
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Final Coaching 2014 Mock Exam

A. Treat others as you want them to be treated
B. Do not do unto others what you want others do to you
C. Do unto others what you do not want others do unto you
D. Treat others as you like them to treat you

23. The following is not considered as good evidence or proof of

ownership of ones land
A. tax declaration,
B. realty tax receipts,
C. deed of sale
D. lot plan

35. The following shall be considered under R.A. No. 9646 as

engaging in real estate service practice
A. A person, natural or juridical, who shall directly perform by
himself/herself the acts mentioned in Section 3
hereof with reference to his/her or its own property, except real estate
developers
B. Any receiver, trustee or assignee in bankruptcy or insolvency
proceedings
C. Any person acting pursuant to the order of any court of justice
D. Any person who is a duly constituted attorney-in-fact for purposes of
sale, mortgage, lease or exchange, or other similar contracts of real
estate, who require compensation or remuneration

24. As best evidence of ownership in fee simple is the transfer

certificate of title as it is imprescriptible and
A. Indefeasible
B. With original copy in the Register of Deeds
C. Issued by the Register of Deeds
D. Signed by the Register of Deeds
25. Under BP 185, urban land shall be land located in
A. Urban areas
B. Commercial areas
C. Residential subdivisions
D. Central business district areas

36. A Professional Identification Card shall likewise be issued to every

registrant for real estate service practice.
upon payment of the required fees but does not indicate the following
A. registration number
B. date of release by PRC
C. expiration date
D. duly signed by the chairperson of the Board

26. No deed of sale in favor of a transferee under Batas Pambansa

Blg. 185 shall be registered by the Register of
Deeds unless accompanied by a sworn statement showing the
following, except:
A. names and addresses of his parents, of his spouse and children, if
any;
B. area, location and mode of acquisition of his landholdings in the
Philippines, if any;
C. his intention to reside permanently in the Philippines;
D. how the transferee became a foreigner

37. A listing currently listed with a real estate broker and obtained and
acquired by another broker must not be
solicited or obtained by said broker unless :
A. The authority of the listing broker is non-exclusive
B. The authority of the listing broker has expired and the owner did not
renew the authority
C. The authority of the listing broker has been revoked and the owner
gives only non-exclusive listing
D. The owner, without solicitation from the new broker, offers to list the
same with the new broker after the authority of the listing broker has
expired or has been revoked

27. The following person cannot be considered to be a Filipino citizen

under the present law
A. Born of Filipino Father
B. A dual citizen under RA 9225
C. Declared a Filipino citizen by the President
D. A naturalized Filipino
28. The PRBRES shall have the power to prescribe guidelines and
criteria for this requirement for real estate
service practitioners in consultation with the accredited and integrated
professional organization of real estate
service practitioners
A. Continuing Professional Education
B. Continuing Education for Professionals
C. Continuing Education Program
D. Continuing Practitioners Education

38. The bundle of rights excludes the following as a right of ownership

A. Right to use
B. Right to put up structure beyond restrictions
C. Right to enjoy the fruits on the land
D. Right to possess
39. A sign of a property for sale or lease should not be placed on a
vacant parcel of land by more than one broker
and only if
A. The broker has an exclusive listing
B. The sign should be of the same size as the other signs
C. The broker is authorized by the owner
D. The address of the broker is indicated on the sign

29. Referred to also as age of majority, at what age may a person buy
and sell property on his or her own
A. 18 years old
B. 18 years old with the consent of the parents
C. 18 years old with legal guardian
D. 21 years old

40. The following acts of a broker are considered unethical. Which act
is considered ethical?
for other persons such as clients money and similar items.
A. Encouraging the parties to a sale to undervalue the sale
B. Keeping a special bank account, separate and distinct from his own
funds, for all monies received in trust
C. Disclosing his clients confidential personal information to a fellow
broker in order to close the sale.
D. Delaying submission of a formal offer that he had received from a
prospective buyer in the hope of
securing a higher offer.

30. For a couple planning to get married, the property relations where
each will own his or her own properties now
and in the future, is referred to as
A. Relative Community of Property
B. Separation of Conjugal Property
C. Conjugal Partnership of Gains
D. Absolute Community of Property
31. In case of non-redemption of the property foreclosed extrajudicially
by the bank, when is the deadline to pay
the capital gains tax by the highest bidder
A. Within 30 days from auction sale
B. Within 30 days from registration of certificate of sale
C. Within 30 days from expiration of period of redemption
D. Within 30 days from notarization of the certificate of sale

41. There is a Professional Regulatory Board of Real Estate Service,

to be chosen from three
(3) recommendees chosen by the Commission from a list of nominees
submitted by the accredited and
integrated professional organization of real estate service practitioners
consisting of
A. Three (3) nominees per position
B. Five (5) nominees per position
C. Ten (10) nominees per position
D. Two (2) nominees per position

32. For an applicant for the licensure examination for real estate
consultants, he/she must show proof that he/she
has experience as a licensed real estate broker for at least
A. Five (5) years
B. Ten (10) years
C. Fifteen (15) years
D. Three (3) years

42. A broker has just received from a fellow brokers client a written
offer to purchase a property of his seller,
together with a check for 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 to improve the offer.
B. Call the seller immediately to inform him about the offer and submit
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.

33. Under the Code of Ethics, the following is considered ethical,

A. Negotiate a property listed directly with the owner
B. Cooperate with other brokers on property listed even if not licensed
C. Willingly share with other brokers the lessons from his experience
and study
D. Inform and criticize among fellow brokers another broker who is not
handling the sale properly
34. The Declaration of Principles of the Code of Ethics for Realty
Service Practitioners clearly states the Golden
Rule which says
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Final Coaching 2014 Mock Exam

43. Under DTI then, the Code of Ethics covering practitioners is
referred to as
A. National Code of Ethics for the Realty Service Practice
B. National Code of Ethics for Practitioners
C. Code of Ethics for the Service Practice
D. Code of Ethics and Responsibilities

B. He proceeds to entertain prospective buyers all the while disclosing

to them the crime committed inside the
property.
C. He also advertised the listing giving the exact address for an open
house on one weekend.
D. He invites his friends to attend the open house hoping that real
buyers will feel that there are many others interested in the property.

44. It is not a ground for the Board not to register and issue a
certificate of registration to any successful examinee
after passing the examinations
A. convicted by a court of any criminal offense involving moral
turpitude
B. found guilty by his or her association of violation of the code of
ethics
C. found guilty of immoral or dishonorable conduct after investigation
by the Board
D. has been found to be psychologically unfit.

53. The following applicant is not required to undergo an examination

to be given by the Board as provided for in
R.A. No. 9646
A. Real Estate Salesperson
B. Real estate broker
C. Real estate assessor
D. Real estate appraiser
54. Three of the following are tricks employed by unethical real estate
brokers when bringing clients to view their
listings. Which one is ethical?
A. Using a roundabout route to avoid eyesores near the neighborhood.
B. Employing a cleaning company to freshen the smell of the house
interiors
C. Forecasting changes from residential to commercial zoning to hint
at high rates of value appreciation
D. Showing another inferior property to position his listing as the better
alternative

45. When a licensed broker accepts a listing from a fellow practitioner,

the following should not be followed
A. The agency of the broker who offers the listing should be respected
until it has expired and the listing
comes to his attention from a different source.
B. The agency of the listing broker should be respected perpetually in
all dealings with his client/principal.
C. The agency of the broker who offers the listing should be respected
until the owner, without solicitations, offers to list with him
D. The listing should not be passed to a third broker without the
knowledge and consent of the listing broker.

55. After a sale is consummated, the broker should not do the

following:
A. accept commission from both the seller and buyer without the
knowledge of either of the parties
B. assist the buyer to acquire possession and ownership of the real
property bought as agreed
C. see to it that both the buyer and seller concluded a fair contract
advantageous to both
D. in case called upon to act as a witness, should give testimonies in
the most unbiased, honest, truthful and professional manner.

46. For the results of the licensure examination, it shall be released by

the Board from the last day of
the examination within
A. Five (5) days
B. Ten (10) days
C. Fifteen (15) days
D. One (1) month

56. What will be the donors tax rate to be paid by a relative if he

donates a parcel of land to his fourth cousin in the
net amount of P 12,000,000
A. 20%
B. 30%
C. 15%
D. 10%

47. Which one of the following acts of a broker can be considered

within the bounds of the code of ethics?
A. Encouraging the parties to a sale to indicate a consideration which
is lower than the actual price.
B. Serving as a witness in court proceedings involving a property
owned by his client.
C. Criticizing the acts of another broker who does not know how to
handle the transaction.
D. Delaying submission of a formal offer that he had received from a
prospective buyer.

57. There are times when a broker has to share his listings with other
brokers. In case of sale, the listing broker
should not do the following:
A. share the commission as agreed upon
B. negotiate directly with the client without the consent of the other
broker
C. not seek unfair advantage over his fellow broker
D. not criticize publicly the other broker

48. In case the heirs will just file and pay now the estate tax return of
their deceased father who died 10 years ago
or sometime 2003, the value of the property of the estate shall be
based on
A. Value of the BIR or zonal value upon filing
B. Value at time of death of the Assessor
C. Value at the time of filing in 2014 of the BIR or assessor whichever
is higher, at the time of filing
D. Value of based on the BIR or Assessors value whichever is higher,
at the time of death

58. When advertising a property listing, the broker should not:

A. advertise without the consent of the owner
B. state the real estate brokers license number in the ads
C. state the true picture of the property
D. advertise within the period of authority

49. In an ad in a newspaper which one of the following newspaper line

ads is blatantly unethical?
A. HOUSE ON A VERY QUIET NEIGHBORHOOD
B. WITH 24 HOURS SECURITY GUARDS!
C. THE VALUE OF THIS PROPERTY WILL INCREASE IN ONE
YEAR!
D. COOL WEATHER!

59. To the ethical broker, the principle of full disclosure dictates that
vital information that can affect the property or
the transaction should be disclosed and explained to his client. Which
one of the following is contrary to an
ethical disclosure?
A. Changes or planned changes in zoning affecting the property
B. Your opinion of future land values in the vicinity of the property
C. Details of the contract
D. Sale of similar properties in the vicinity

50. The Board shall also prescribe the essential requirements as to the
curricula and facilities of schools &
colleges seeking permission to open academic courses or already
offering such courses in real estate service,
in cooperation with the
A. Commission on Higher Education
B. Department of Education and Culture
C. National Association of Real Estate Service Practitioners
D. Philippine Association of Schools and Colleges

60. The ethical broker always strives to protect his clients interests.
Which of the following is not ethical and is not
in the best interest of your client/seller?
A. Maintain utmost confidentiality on matters not directly related to the
property
B. Strive to be familiar with laws and ordinances on real estate
C. Discuss the negotiating position of your client with the buyers
broker to hasten the sale
D. Tell your client/seller that his price is too high and give opinion on
the fair market value of the property

51. It is not a subject in the examinations for real estate brokers

A. Condominium concept and other types of real estate holdings;
B. Real estate finance and economics;
C. Basic principles of ecology;
D. Land management and real property laws

61. The following common property relations may be agreed upon in

the marriage settlement, except
A. Relative Community of Property
B. Separation of Conjugal Property
C. Conjugal Partnership of Gains
D. Absolute Community of Property

52. The real estate broker takes the following steps as a licensed real
estate broker. Which action can be
considered unethical?
A. He accepted an exclusive listing for an abandoned house and lot
even with his knowledge that somebody
died violently in the property.
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Final Coaching 2014 Mock Exam

62. The National Code of Ethics and Responsibilities under the RESA
does not cover the following real estate
practitioner
A. Real Estate Developers
B. Real Estate Assessors
C. Real Estate Salespersons
D. Real Estate Appraisers

B. Abuse of power,
C. Complaint for murder
D. Unprofessional, unethical conduct
72. The certificate of registration to be issued to the real estate service
practitioner shall be valid until
A. Remains in full force and effect until revoked or suspended in
accordance with R.A . No. 9646.
B. Remains in full force and effect until every 3 years
C. Expires every December 31 of each year
D. Remains in full force and effect until revoked by HLURB

63. In case of violation of the Code of Ethics of a broker who is a

member of a real estate service organization, the
sanction that may not be imposed
A. Suspension from association
B. Expulsion from association
C. Removal of license by the association
D. Fine imposed by the association

73. The Board may, after giving proper notice and hearing to the party
concerned, revoke the certificate of
registration and the professional identification card of a real estate
service practitioner, but not on the following
ground
A. Procurement of a drivers license by fraud or deceit;
B. Allowing an unqualified person to practice the profession by using
one's certificate of registration
C. Unprofessional or unethical conduct;
D. Malpractice or violation of any of the provisions of R.A. No. 9646

64. Dan and Jean executed a marriage settlement specifying that the
regime of separation of property shall govern
their property relations during marriage. They are married in proper
ceremonies on December 1, 1988. Under
the Family Code, which of the following systems shall govern their
property relations during their marriage?
A. Absolute community of property
B. Separation of property
C. Conjugal partnership of gains
D. Exclusive property

74. As a real estate appraiser, he should not undertake the following,

except
A. render an opinion without careful and thorough analysis
B. render an appraisal report in letter form
C. render the appraisal with a predetermined price
D. render an interpretation without considering all factors affecting the
value of the property

65. In his advertisements, brochures or announcements regarding a

property for sale, he should present the
following, except
A. a true picture of the property, its improvements, or rights and
interests therein
B. material facts concerning the property
C. whatever liens or encumbrances it may have, if any, and
D. the minimum price the owner would be willing to accept

75. No foreign real estate service practitioner shall be admitted to the

licensure examination, be given a certificate
of registration or a professional identification card, be issued a
Special/Temporary Permit, or be entitled to any
of the privileges under R.A. No. 9646 and the IRR unless
A. He becomes a dual citizen
B. He is a former natural born Filipino
C. There is foreign reciprocity with his country
D. There is a foreign treaty with his country

66. As a real estate appraiser, the appraiser may not undertake to

make an appraisal or render an opinion in the
following case
A. If within his field of his experience and competence
B. if he will also be the broker who will sell the property being
appraised
C. he obtains the assistance of another practitioner familiar with such
type of property or
D. the facts are fully disclosed by the client.

76. All real estate brokers and private real estate appraisers shall be
required to post an amount to be
determined by the Board, which in no case shall be less than Twenty
thousand pesos (P20,000.00), renewable
every
A. One (1) year
B. Two (2) years
C. Three (3) years
D. Until revoked.

67. The State recognizes the vital role of real estate service
practitioners in the social, political, economic
development and progress of the country in the following, but not
A. promoting the real estate market
B. enhanced income from income taxes of practitioners
C. stimulating economic activity
D. enhancing government income from real property-based
transactions

77. A capital asset is property held by the taxpayer, whether or not

connected with his trade/business, such as
A. Stock in trade of the taxpayer
B. Other property of a kind which would properly be included in the
inventory of the taxpayer if on hand at the
close of the taxable year
C. Property held primarily for sale to customers in the ordinary course
of his trade or business
D. Property used as residence by the taxpayer

68. The policies, resolutions and rules and regulations issued or

promulgated by the Board shall be subject to the
review and approval by the
A. Professional Regulatory Commission
B. Professional Regulatory Board of Real Estate Service
C. Professional Regulation Commission
D. Office of the President

78. The owner of a house and lot sold the property owned by him and
rented out to foreigners in the business of
leasing in the amount of P4,500,000. The rate of tax on the sale shall
be
A. 1.5%
B. 3.0%
C. 5.0%
D. 6.0%

69. What will the total real estate taxes to be paid by a lot owner for the
year if his land consisting of 450 sqms.
And with a fair market value of the assessor at P6,000 per square
meter is classified as commercial the tax
rate is the maximum imposable by the city
A. P 54,000
B. P 27,000
C. P 10,800
D. P 40,500

79. A real estate broker sold a parcel of land in the amount of

P5,800,000, inclusive of the brokers commission of
5%. If the capital gains tax and documentary stamps tax will be for the
buyers account, how much will be the
net amount received by the owner
A. P 5,162,000
B. P 5,510,000
C. P 5,075,000
D. P 5,423,000

70. The Chairperson and the Members of the Board shall, at the time
of their appointment, must possess the
following qualification of having been an active licensed practitioner of
real estate service, at the time of his
appointment, for at least
A. Five (5) years
B. Ten (10) years
C. Twelve (12) years
D. Fifteen (15) years

80. Under the Code of Ethics, the Realty Service Practice is not
considered the following
A. a profession
B. business
C. calling
D. occupation,

71. The chairperson or any member of the Board may be suspended

or removed by the President of the
Philippines, upon the recommendation of the Commission and after
due notice and hearing in a proper
administrative investigation to be conducted by the Commission but
not on the following ground:
A. Neglect of duty,

81. A BIR large taxpayer with its head office located in Manila sold its
parcel of land located in Batangas City to a
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Final Coaching 2014 Mock Exam

buyer from Lipa City but who was doing business in LucenA. Where
should the tax on the sale be paid ?
A. Manila
B. Batangas City
C. Lipa City
D. Lucena

91. The maximum interest penalty that may be imposed for unpaid real
estate taxes in 2004 shall be
A. 12 months
B. 10 years
C. 36 months
D. Until paid

82. How much should the documentary stamp tax be paid on the sale
of a parcel of land whose selling price is
P 4,500,000 but the zonal value was P5,000,000 and the fair market
value in the tax declaration was
P 3,200,000
A. P 75,000
B. P 67,500
C. P 60,000
D. P 48,000

92. A province or city, or a municipality within the Metropolitan Manila

Area, may levy and annual tax on idle lands
at the rate not exceeding five percent (5%) of the assessed value on
the following
A. Residential vacant lot of 1,200 sqms.
B. One hectare of land planted with 60 mahogany trees
C. Lot being disputed among two owners
D. 2 hectares of agricultural land of which are cultivated
93. As exceptions to the general rule, alien acquisition of real estate in
the Philippines is not allowed in the
following case :
A. Acquisition before the 1935 Constitution;
B. Acquisition by hereditary succession ;
C. Purchase by aliens of not more than 40% of the units in a
condominium project;
D. Purchase by a former Filipino citizen

83. The following is not a power of the Professional Regulatory Board

A. Conduct licensure examinations for the practice of the real estate
service profession
B. Prescribe the appropriate, syllabi of the subjects for examination
with their tables of specifications;
C. Issue, suspend, revoke or reinstate, after due notice and hearing,
certificates of registration or professional identification cards for the
practice of real estate service;
D. Remove or expel a real estate service practitioner from his
association

94. The assessor put a fair market value of P5,500 per square meter
on a 1,000 sqm. land located in a outside a
residential subdivision and used in the business of parking space. How
much is the assessed value of the land
if the assessment level of residential land is 20% and commercial land
is 50%
A. P 5,500,000
B. P 1,100,000
C. P 2,750,000
D. P 1,650,000

84. An owner who leases out his house regularly in his business of
leasing earns a monthly rental of P50,000 on
one residential house and another P 150,000 per month on his rentals
from his office building. How much will
be his total output VAT for the year ?
A. P 216,000
B. P 288,000
C. P 72,000
D. P 240,000

95. How much will be the quarterly payments for special fund tax will
have to be made by the owner if he owns a
house and lot valued by the City Assessor at P2,000,000 where the
basic tax rate is 2%
A. P 8,000
B. P 2,000
C. P 4,000
D. P 1,000

85. The Board shall adopt and promulgate the Code of Ethics and
Responsibilities for real estate service
practitioners which shall be referred to as
A. National Code of Ethics for the Realty Practice
B. National Code of Ethics for Practitioners
C. National Code of Ethics for the Service Practice
D. National Code of Ethics and Responsibilities

96. No real estate salesperson, either directly or indirectly, can

negotiate, mediate or transact any real estate
transaction for and in behalf of a real estate broker without first
already P 4,000,000 while the fair market value in the tax declaration at
the time of sale was P 2,300,000. If
the transfer tax is of 1%, how much transfer tax shall be paid by the
buyer
A. Taking the examinations as a real estate salesperson
B. Securing an authorized accreditation as real estate salesperson for
the real estate broker
C. Posting the required bond of P 1,000 with HLURB
D. Obtaining a professional identification card

86. The foreclosed asset of a bank was sold in the amount of P

1,900,00 to the buyer. What will be the tax rate on
the sale of the said asset
A. 1.5%
B. 3.0%
C. 6.0%
D. 5.0%
87. The real estate broker who intends to practice in the City of Makati
must also pay the professional tax to
A. PRC
B. PRBRES
C. Bureau of Internal Revenue
D. City of Makati

97. During the fall of real estate prices, the owner sold a parcel of land
at P3,600,000 but the zonal value then was
A. P 20,000
B. P 18,000
C. P 11,500
D. P 40,000

88. A real estate broker will be earning a total professional fee in the
amount of P2,500,000, inclusive of VAT. How
much will be the net amount to be received by the broker after
deducting the withholding tax if the broker had
reported his income would go beyond P720,000 for the year
A. P 2,250,000
B. P 2,008,929
C. P 1,897,321
D. P 2,125,000

98. In case the appeal to the Local Board of Assessment Appeals is

not in your favor, where may you bring it up
on appeal
A. Regional trial court
B. Central Board of Assessors Appeal
C. Central Board of Assessment Appeals
D. Department of Interior and Local Government

89. The Real Estate Service Act of the Philippines governs the
following practitioners, except
A. Real Estate consultant
B. Real estate assistant assessor
C. Real estate salesperson
D. Real estate dealer

99. There are four professional sectors under the PRC, to which does
real estate service belong to
A. Medical and Health
B. Business, Education and Management
C. Engineering
D. Technology

90. An owner sold his house and lot consisting of 300 sqms. for
P5,200,000, but based on the BIR Zonal Values,
the lot zonal value was P 8,000 per square meter and verification with
the assessor showed that the fair market
value of the lot was P 1,800,000 and the house at P 2,200,000. What
will be the basis for the payment of
capital gains tax ?
A. P 5,200,000
B. P 4,600,000
C. P 4,000,000
D. P 2,400,000

100. What is the monthly penalty interest on the basic real estate taxes
in case one fails to pay the tax due last year
on a lot of 500 sqms classified as commercial and valued by the
assessor at P 2,500 per square meter with a
basic tax rate of 2%
A. P 250.00 per month
B. P 12,500.00 per month
C. P 3,000,00 per year
D. P 240.00 per month
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