1. Crash Review - Legal Requirements For Real Estate Service Act (R.A. 9646) Flashcards by Jane & Leo Censon

Real Estate Service Act of the Philippines.

a. RA 9646
b. RA 9464
c. RA 9626

RA 9646

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Declaration of policy in RA 9646.

a. Section 1
b. Section 2
c. Section 3

b. Section 2

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The recognizes the vital role of real estate service practitioners in the social, political, and economic development and progress of the country.

a. State
b. Government
c. Real Estate Practitioner

a. State

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Also known as a valuer, the person who conducts valuation/appraisal.

a. Appraiser
b. Assessor
c. Seller

a. Appraiser

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An official of LGU who perform assessment and appraisal

a. Assessor
b. Treasurer
c. Appraiser

a. Assessor

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Development of land for residential, commercial, industrial, agricultural, and other purposes

a. Real Estate Development project
b. Improvement
c. Classification

a. Real Estate Development project

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A person engages in the business of developing real estate projects.

a. Real Estate Developer
b. Developer
c. Contractor

a. Real Estate Developer

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A licensed natural person offers professional advice related to real estate.

a. Consultant
b. Adviser
c. Broker

a. Consultant

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Acts as an agent of a party in the real estate transaction to effect a meeting of mind on the sale of real estate.

a. Broker
b. Seller
c. Buyer

a. Broker

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Topics covered in the real estate broker examination.

a. Condominium
b. Consulting tools
c. Valuation procedure

a. Condominium

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Acted on behalf of the real estate broker

a. Salesperson
b. Seller
c. Consultant

a. Salesperson

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National integrated organization of natural persons duly registered and licensed as Real Estate Practitioners

a. AIPO
b. IAPO
c. APO

AIPO

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An accredited organization that perform activities prior to the birth of AIPO

a. Interim Accredited Professional Organization
b. Accredited Professional Organization
c. Temporary Accredited Professional Organization

a. Interim Accredited Professional Organization (IAPO)

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Creation and Composition of PRBRES

a. Section 4
b. Section 5
c. Section 6

a. Section 4

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PRBRES are under the administrative control of the

a. PRC
b. President
c. HLURB

PRC

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The number of nominees per position submitted by AIPO for PRBRES.

a. 5 per position
b. 3 per position
c. 6 per position

a. 5 per position

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The number of members in the PRBES.

a. 4
b. 5.
c. 3

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Qualification of chairperson and member of the board.

a. Section 6
b. Section 4
c. Section 5

a. Section 6

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Examination paper, results and minutes shall be kept by.

a. PRC
b. Board
c. AIPO

a. PRC

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Subject covered in the real estate appraisal.

a. Methodology of appraisal
b. Fundamental of real estate consulting c. Fundamental of property ownership

a. Methodology of appraisal

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Qualification for PRBRES membership except one.

a. 5 years as appraiser
b. Member of good standing in AIPO
c. 10 years experience as a licensed practitioner

a. 5 years as appraiser

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The Chairman of PRBRES will serve for

a. 3 years
b. 2 years
c. 6 years

a. 3 years

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The Chairman and Member of the board can be reappointed but in no case will serve more than

a. 6 years
b. 5 years
c. 9 years

a. 6 years

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Prior to the assumption of office, the member of the board shall

a. Take proper oath
b. Appointed
c. Elected

a. Take proper oath

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Removal of chairperson on these grounds except. a. Being moral b. Incompetence c. Neglect of dut

a. Being moral

Number years as licensed real estate service practitioner as qualification for member and chairman of PRBRES. a. 10 b. 3 c. 5

a. 10

All records of PRBRES shall be kept by. a. PRC b. Secretary c. Chairman

a. PRC

Power and function of the Board a. Section 5 b. Section 6 c. Section 7

a. Section 5

Submission of report by PRBRES. a. Annually b. Quarterly c. Monthly

a. Annually

Scope of examination of real estate brokers except. a. Land management b. Planning, development and zoning c. Code of Ethics

a. Land management

Scope of examination of real estate broker examination a. Legal aspect of sales b. Feasibility studies c. Case studies

a. Legal aspect of sales

Qualification to take REBLEX. a. Holder of bachelor's degree b. 60 credit units of training c. High school graduate

a. Holder of bachelor's degree

A consultant should have at least _ years of experience a. 10 years b. 5 years c. 3 years

a. 10 years

Average to pass the board examination a. 75% b. 50% c. 80%

a. 75%

Average of 75% and no grade below _ to pass the REBLEX a. 50% b. 60% c. 65%

a. 50%

The result of the exam shall be released within. a. 10 days b. 5 days c. 30 days

a. 10 days

Certificate of registration shall bear the signature of . a. Chairman and Member b. Chairman only c. Member only

a. Chairman and Member

Term of office of PRBRES a. Section 7 b. Section 8 c. Section 9

a. Section 7

Aside from the certificate of registration issuance. a. Issuance of PRC ID b. Rating Card c. Attendance Sheet

a. Issuance of PRC ID

PRC ID shall be renewed. a. Every 3 years b. Every 5 years c. Every 6 years

a. Every 3 years

The PRC ID bears the following except a. Date of registration b. Registration number c. Date of expiry

a. Date of registration

The board can refuse to register any successful candidate. a. If psychologically unfit b. If physically unfit c. If socially unfit

a. If psychologically unfit

Revocation or suspension from the practice of profession except. a. Passing the board exam b. Violation of RA 9646 c. Unethical practice

a. Passing the board exam

Registration without examination a. Active broker who passed the DTI exam as of July 2009 b. Inactive broker who passed the DTI exam. c. Active broker but did not pass the DTI exam

a. Active broker who passed the DTI exam as of July 2009

CPD units to earn to renew license. a. 15 units b. 24 units c. 60 units

a. 15 units

Assessor that can register without examination a. If holding both of the below b. Hold the permanent position for 5 years c. Passer of the RPAO exam

a. If holding both of the below

Registration without Examination in RA 9646. a. Section 20 b. Section 19 c. Section 21

a. Section 20

The board can reinstate the revoked certificate of registration after. a. 2 years b. 5 years c. It depends

a. 2 years

A board may issue a temporary permit to a practitioner if there is an unavailability local real estate practitioner for the purpose of. a. Enhancing the practice b. Enhancing the practitioner c. Enhancing the profession

c. Enhancing the profession

All are required to take an _ before any board prior to entering into Real Estate Service Practice a. Oath b. Pass the board c. Register

a. Oath

Surety bonds are required for Real Estate brokers and appraisers. a. 20,000 b. 30,000 c. 10,000

a. 20,000

The surety bond shall be renewable every. a. 3 years b. 1 year c. 5 years

a. 3 years

On those Appraisers working in the Government, in lieu of surety bond. a. Certificate of employment b. Cash c. Certificate of Proficiency

a. Certificate of employment

Exemption from the acts constituting Real Estate Service, except. a. Selling b. Trustee c. Attorney in fact

a. Selling

Person Exempted from act constituting the practice of real estate service. a. Public Officers b. Buyer c. Seller

a. Public Officers

An Exception to the exemption of act constituting real estate service practice. a. Real Estate Developers b. Consultant c. Appraiser

a. Real Estate Developers

All positions in the government requiring a registered real estate practitioner shall be filled up only by a licensed practitioner within. a. 3 years b. 5 years c. 6 years

a. 3 years

Real estate salesman to be accredited shall be at least. a. 2 years in college b. 72 units credit c. 12 units

b. 72 units credit

Real estate salesmen shall have undergone seminars at least. a. 12 credit b. 120 hours c. 60 hours

a. 12 credit

Number of real estate brokers for every 40 salesmen. a. 2 broker b. 1 broker c. 3 broker

a. 2 broker

Resignation of real estate practitioner shall be reported by the employer to the board within. a. 15 days b. 10 days c. 20 days

a. 15 days

When will the IRR of RESA will take effect. a. 15 days after publication b. 30 days after publication c. 10 days after publication

a. 15 days after publication

All of the following shall be displayed in the Place of Business, except. a. Passport b. Certificate of Registration c. Professional ID

a. Passport

Number of AIPO to be recognized by the Board subject to the approval of the PRC. a. 1 b. 2 c. 3

a. 1

Adopt and promulgate the code of ethics and responsibilities of real estate practitioners. a. Board b. AIPO Note: AIPO - recommending / adoption - Board c. PRC

a. Board

The CPE (Continuing Professional Education) council shall be composed of the following, except. a. PRC b. Board c. AIPO

a. PRC

The CPE council will compose one of the following. a. Academe b. Judiciary c. PRC

a. Academe

Prescribed and issued the code of ethics and responsibilities of real estate practitioners. a. AIPO b. PRC c. Board

a. AIPO

Other information is to be indicated on the document to be signed by the real estate practitioner, except. a. Voters ID Number b. PTR Number c. AIPO Number

a. Voters ID Number

When was the IRR of the RESA Act Implemented? a. July 24, 2010 b. July 15, 2009 c. July 15, 2010

c. July 15, 2010 Signed into law June 29, 2009 Published on July 15, 2009 Effectivity - July 30, 2009 IRR Signed on July 21, 2010 Published Date July 24, 2010 Effectivity on August 08, 2010

Exemption from the acts constituting real estate service a. Section 28 b. Section 27 c. Section 29

a. Section 28

Screen, issue, and monitor permit to organizations of real estate professionals in the conduct of seminars. a. Power of the board b. Power of PRC c. Power of AIPO

a. Power of the board

Evaluate periodically the status of real estate service education and profession. a. Board b. PRC c. AIPO

a. Board

RA 9646 was signed on. a. June 29, 2009 b. July 15, 2009 c. July 30, 2010

a. June 29, 2009

RA 9646 was published on. a. July 15, 2009 b. July 30, 2010 c. June 29, 2009

a. July 15, 2009

IRR of RESA Act was approved on. a. July 21, 2010 b. July 24, 2010 c. July 15, 2010

a. July 21, 2010

All of the following shall prepare the IRR except. a. PRBRES & Chairman b. AIPO & DOF c. CHED & PRC

c. CHED & PRC

Prepare, update, and Maintain a roster of RES practitioners. a. Board b. AIPO c. PRC

a. Board

Months after the effectivity of RESA the IRR shall be prepared. a. 6 months b. 3 months c. 12 months

a. 6 months

Removal of the board in the following cases, except. a. Professional b. Incompetence c. Abuse of duty

a. Professional

Ground for suspension. a. Allowing unqualified persons to use professional ID. b. Ethical Conduct c. Professional Conduct

a. Allowing unqualified persons to use professional ID.

Act shall the IRR shall be prepared. a. 6 months b. 3 months c. 12 months

a. 6 months

Violation of RESA Act shall be penalized by. a. Penalty of not less than 100,000 or imprisonment of not less than 2 years or both. b. Penalty of not less than 200,000 or imprisonment of not less than 4 years or both. c. Depending on the judgment

a. Penalty of not less than 100,000 or imprisonment of not less than 2 years or both.

Penal provision of RA 9646 a. Section 39 b. Section 38 c. Section 40

a. Section 39

Penalty in violation of the RESA Act will double if violations were committed by an unlicensed RES practitioner. a. Penalty of not less than 200,000 or imprisonment of not less than 4 years or both b. Penalty of not less than 100,000 or imprisonment of not less than 2 years or both c. Depending on the judgment

a. Penalty of not less than 200,000 or imprisonment of not less than 4 years or both

Prosecutors against an illegal practitioner of RESA. a. Lawyer of PRC b. Lawyer of the board c. Lawyer of AIPO

a. Lawyer of PRC

Shall create the CPE Council. a. Board b. PRC c. AIPO

a. Board

Penalty in violation of the RESA Act will double if a violation were committed by. a. Unlicensed Real Estate Service Practitioner b. Real Estate Service Practitioner c. Licensed Real Estate Service Practitioner

a. Unlicensed Real Estate Service Practitioner

Prohibitive acts by an unlicensed RES practitioner, except. a. Not practice real estate service b. Appointed as an assessor in LGU c. Use title conveying as RES practitioner

a. Not practice real estate service

Topics covered in the real estate consulting examination. a. Investment analysis b. Appraisal Mathematics c. Ecology

a. Investment analysis

No foreign real estate service practitioner shall be admitted unless their country allows Filipino practitioners to practice in their country a. Foreign reciprocity b. Foreign agreement c. Foreign Equality

a. Foreign reciprocity