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THE REAL ESTATE BROKER’S EXAMINATION > 2016 - SET G - Feb. 28, 2016 > Flashcards

2016 - SET G - Feb. 28, 2016 Flashcards

1
Q
  1. The lead policy-making body of the government tasked to coordinate, monitor and evaluate government programs and ensure mainstreaming of climate change in national, local, and sectoral development plans towards a climate-resilient and climate-smart Philippines.

a. The National Disaster Risk Reduction & Management Council (NDRRMC)
b. DOST- Project Noah
c. The Climate Change Commission
d. PAGASA

A

c. The Climate Change Commission

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2
Q
  1. What is the functional share of the surviving spouse that will appear in the new title of a conjugal property subject of the settlement of estate, if the decedent left three (3) legitimate children and one (1) illegitimate child?

a. 4.5/9
b. 5.5/9
c. 1/9
d. 1 /4.5

A

b. 5.5/9

Absolute Community
Spouse
3 Legitimate Children
1 Legitimate children

Hatian sa share ng namatay na lalaki

Example: halaga ng Property ng magaawa = P10m
Conjugal Property = 50% sa Lalaki at 50% sa babae

Dahil isa lang ang namatay (Lalaki), ito lang ang paghahatian ng mga magmamana.

Bilang ng mga magmamana = 5

Hatian: 50% or 5M / 5 = 1M bawat isa

*Note: if dalawa o higit pa yung iligitimate child, maghahati silang mga ilegitimate children sa 1m

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3
Q
  1. This is a massive forest rehabilitation program of the government established by virtue of Executive Order No. 26 issued on Feb. 24, 2011 by President Benigno S. Aquino III. It seeks to grow 1.5 billion trees in 1.5 million hectares nationwide within a period of six years, from 2011 to 2016.

a. National Reforestration Program
b. Total Log-ban Program
c. National Greening Program
d. National Rehabilitation Program

A

c. National Greening Program

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4
Q
  1. A and B got married on February 14, 2009. After 3 years, they separated because A had an illicit relationship with his Secretary. They agreed to live separate lives. However, they did not file any case to annul or nullify the marriage. B who earned well as a licensed broker, bought a condominium unit worth 10,000,000. What will be the treatment of the condominium unit purchased by B?

a. Exclusive property of B
b. Community property
c. Exclusive property of A
d. none of the above

A

b. Community property

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5
Q

TY5. Mr. Seller authorized the broker to sell his property in Taguig City. The broker advertised the said property in the newspaper, websites and in MLS. However, the broker died before the property is sold. What will happen to the authority?

a. the heirs of the broker can inherit the right to sell the property
b. the agency is extinguished
c. the brokers heirs can insist on the seller that the terms and condition of the authority will apply to them
d. cannot be determined

A

b. the agency is extinguished

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6
Q
  1. In Joint venture agreement between the developer and lot owner, the engagement of a real estate consultant is necessary except?

a. Ascertain fair market value of land and evaluate cost estimate of developer
b. Review joint venture agreement
c. Market the finished project
d. Monitor and evaluate developer’s compliance with his undertaking.

A

c. Market the finished project

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7
Q
  1. A process that involves predicting and evaluating the likely impacts of a project (including cumulative impacts) on the environment during construction, commissioning, operation and abandonment

a. Environmental Evaluation Approach
b. Environmental Prediction and Impact Report
c. Environmental Impact Assessment
d. Environmental Assessment Process

A

c. Environmental Impact Assessment

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8
Q
  1. Impairment of desirability and usefulness of real property brought about by physical, economic, fashion or other changes.

a. undervaluation
b. devaluation
c. obsolescence
d. regression

A

c. obsolescence

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9
Q
  1. If the expenses for the payment of the capital gains and documentary stamps tax and 3% broker’s commission will be shouldered by the vendor, how much will be the net amount he will receive if he sells a property worth 7,200,000.00?

a. 7,200,000.00
b. 6,444,000.00
c. 6,984,000.00
d. 6,120,000.00

A

b. 6,444,000.00

CGT, 6% + DST 1.5% + Comm 3% = 10.5%

7,200,000 x 89.5% = 6,444,000

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10
Q
  1. In an exclusive authority to sell which he gives you for a period of ninety days, your client seller wants a 15 Million asking price for his house. Upon appraisal you realize that the price is very reasonable and fair to both seller and eventual buyer. Knowing from experience that buyers always give counter offers, how much should you quote when offering the property?

a. 17 Million
b. 16 Million
c. 15 million
d. 18 Million

A

c. 15 million

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11
Q
  1. The Philippine Environmental Impact Statement System was formally established in 1978 by virtue of

a. Republic Act 1586
b. PD No. 1586
c. EO 90
d. RA 6552

A

b. PD No. 1586

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12
Q
  1. A method of property appraisal by estimating the fair market value of an improvement by estimating present reproduction cost and deducting depreciation is

a. Income Approach
b. Basic Improvement Approach
c. Market Data Approach
d. Cost Approach

A

d. Cost Approach

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13
Q
  1. Mr. Lindsey hired the services of a broker to sell his property. He said he bought it at 8,500,000.00 and wants a 30 % gross profit. If you were the broker, how much would you sell the property?

a. 11,500,000
b. 11,050,000
c. 8,500,000
d. none of the above

A

b. 11,050,000

The formula for calculating the selling price that would give a certain percentage of profit on a purchase price is:

Selling Price = Purchase Price + (Purchase Price x Profit Percentage)

Using the given values, we have:

Selling Price = 8,500,000.00 + (8,500,000.00 x 0.30)
Selling Price = 8,500,000.00 + 2,550,000.00
Selling Price = 11,050,000.00

Therefore, as the broker, you would need to sell the property for 11,050,000.00 to give Mr. Lindsey a 30% gross profit on his purchase price of 8,500,000.00.

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14
Q
  1. Same values in the preceding problem. If you will be paid a 5% commission, how much should be added to the selling price so that the 30% profit will not be affected?

a. P581,578.95
b. 552,500.00
c. 500,000.00
d. none of the above.

A

a. P581,578.95

11,050000 /.95 = sp
sp=11,631,578.95 - 11,050,000
comm = 581,578.95

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15
Q
  1. How much is the gross selling price inclusive of the commission?

a. P11,050,000
b. 11,604,500
c. 11,631,578.95
d. none of the above.

A

c. 11,631,578.95

11,050,000 + 581,578.95 =

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16
Q
  1. This is a provision in a listing contract which entitles the broker to a commission even if the sale were closed after the period of his authority, provided that the buyer was registered by the broker with the seller during the period of authority.

a. Turn-over Clause in listing
b. Hold-over Clause in listing
c. Term Clause in Listing
d. Commission Clause in Listing

A

b. Hold-over Clause in listing

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17
Q
  1. The following are the essential elements of real estate brokerage, except:

a. Functions to be performed by the broker must be specific

b. Employment of the broker as the principal.

c. The broker must be the procuring cause and instrumental in effecting the meeting of the minds of the parties in the transactions during the period of agency.

d. The services rendered by the broker are for a professional fee, commission or any other valuable consideration.

A

b. Employment of the broker as the principal.

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18
Q
  1. This refers to the loss of value brought about by external economic forces such as changes in optimum use of land, squatter shanties, etc.

a. Functional Obsolescence
b. Deterioration
c. Economic Obsolescence
d. Depreciation

A

c. Economic Obsolescence

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19
Q
  1. At 18% interest per annum, how much is the interest of 1,000,000.00 loan for 65 days using 360 as a number of days in a year.

a. 32,500.00
b. 180,000.00
c. 320,000.00
d. none of the above

A

a. 32,500.00
Sol.
1,000,000 x 18% = 180,000
180,000 /360 days = 500
500 x 65 days = 32,500

or

18%/360 days = .00005
.0005 x 1,000,000 x 65 days = 32,500

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20
Q
  1. The seller realized a 40% gross profit over his cost. If the property is sold at 2,800,000.00, the cost is?

a. 2,800,000.00
b. 800,000.00
c. 2,000,000.00
d. none of the above

A

c. 2,000,000.00

Sol.
2,800,000 / 140%

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21
Q
  1. Assuming the same values in No. 20. How much is the gross profit?

a. 2,800,000.00
b. 800,000.00
c. 2,000,000.00
d. none of the above

A

b. 800,000.00

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22
Q
  1. The real estate broker is granted an exclusive right to sell the property during the listing term or period and a commission is paid even if the property is sold by the owner himself.

a. Open Listing
b. Exclusive Agency
c. Net Listing
d. Exclusive Right or Authority to Sell

A

d. Exclusive Right or Authority to Sell

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23
Q
  1. Period over which a property will yield a return on investment over and above the ground rent to land.

a. Life Span
b. Economic Life
c. Lasting Life
d. Redemption Period

A

b. Economic Life

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24
Q
  1. The commission rate for the sale of real estate broker is determined by:

a. standard rate approved and adopted by the brokers in the locality
b. discretion of the seller
c. negotiation and agreement between the seller and the broker
d. fixed schedule of commissions approved by PRC

A

c. negotiation and agreement between the seller and the broker

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25
Q
  1. It is considered to be a “spark plug” which triggers off activities in allied industries, creates income opportunities to the private sector and enhances the market for construction materials, furnitures, appliances, restaurants and other service industries.

a. Multiplier Effect of real estate
b. Sparkling Effect
c. Principle of Progression
d. Highest and Best Use

A

a. Multiplier Effect of real estate

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26
Q
  1. An ECC shall contain specific measures and conditions that project proponent has to undertake to

a. Obtain a certificate of non coverage
b. Prevent natural disasters
c. Mitigate identified environmental impacts
d. Monitor the progress of the project

A

c. Mitigate identified environmental impacts

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27
Q
  1. This is a cooperative agreement among broker who are members of a realty association where properties for sale are circulated to all members and commission is shared between the listing and selling member, with a nominal percentage going to the association as a service fee.

a. Net Listing
b. Multiple Listing
c. Open Listing
d. Exchange Agency

A

b. Multiple Listing

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28
Q
  1. The agreement between an owner and a broker to sell a real estate property is:

a. Sales Agreement
b. Listing Agreement
c. Prenuptial Agreement
d. Purchase Agreement

A

b. Listing Agreement

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29
Q
  1. Zoning is an exercise of what inherent power of the state?

a. eminent domain c. taxation
b. police power
c. taxation
d. none of the above

A

b. police power

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30
Q
  1. Mr. X bought a parcel of land, paying monthly amortization of 216,400.00. The amortization factor for 5 years at 21 % is 0.02705. He paid a downpayment of 20% of the contract price, compute for the principal obligation on which the monthly obligation is based?

a. 1,082,000
b. 8,000,000
c. 7,000,000
d. 800,0000

A

b. 8,000,0000

216,400 / .02705 =

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31
Q
  1. Same values in the preceding problem. How much is the contract price?

a. 10,000,000
b. 8,000,000
c. 1,000,000
d. 6,400,000

A

a. 10,000,000

8,000,000 / 80% =

(20% - 100%)

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32
Q
  1. Same values in the preceding problem. How much is the amount of downpayment?

a. 1,000,000
b. 1,600,000
c. 2,000,000
d. 1,500,000

A

c. 2,000,000

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33
Q
  1. An agent seller, the real estate broker is usually authorized to do all of the following acts, except:

a. Advertise the listed property
b. Place “for sale” sign on the listed property
c. Cooperate with other broker to facilitate a sale
d. Bind the principal under s contract to sell.

A

d. Bind the principal under s contract to sell.

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34
Q
  1. Mr. X bought a 2 hectares raw land at P 20 per square meter. If cost of money is compounded 100% every 5 years, what will be his cost per square meter after 20 years? What will his gross profit per square meter if he sells the land at 500 per square meter 20 years?

a. P220/sq.m. and P160/sq.m.
b. 250/ sq.m. and P20/ sq. m.
c. 300/sq.m. and P160/sq.m.
d. 320/sq.m. and 180/sq.m.

A

d. 320/sq.m. and 180/sq.m.

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35
Q
  1. A real estate listing is

a. A list of all property held by one owner
b. Employment of a broker by the owner to sell or lease a certain real property
c. A written list of improvements on the land
d. A rendition of property for taxation

A

b. Employment of a broker by the owner to sell or lease a certain real property

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36
Q
  1. He is a duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, acts as an agent of a party in a real estate transaction to offer, advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the sale, purchase, exchange, mortgage, lease or joint venture, or other similar transactions on real estate or any interest therein.

a. Real Estate Developer
b. Real Estate Consultant
c. Real Estate Broker
d. Real Estate Appraiser

A

c. Real Estate Broker

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37
Q
  1. The mode of payment wherein principal payments are deferred on the first few years of the terms of the loan is designed to enhance the affordability of the borrower through a mechanism of increasing monthly amortization over the terms of the loan.

a. Loan Original Agreement
b. Graduated Amortization Plan
c. Lending Window
d. Loan Originator

A

b. Graduated Amortization Plan

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38
Q
  1. What does EDCA stands for:

a. Enhanced Development Commitment Agreement
b. Enforcement, Dedication, Cooperation Agreement
c. Enhanced Defense Cooperation Agreement
d. Enforcement Defense Commitment Agreement

A

c. Enhanced Defense Cooperation Agreement

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39
Q
  1. The protection, preservation, management, or restoration of wildlife and of natural resources such as forests, soil, and water.

a. sustainable development
b. ecological footprint
c. conservation
d. Biodiversity

A

c. conservation

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40
Q
  1. This refers to the the development of land for residential, commercial, industrial, agricultural, institutional or recreational purposes, or any combination of such including, but not limited to, tourist resorts, reclamation projects, building or housing projects, whether for individual or condominium ownership, memorial parks and others of similar nature.

a. Real Property
b. Real Estate Development Project
c. Real Estate Developer
d. Real Estate

A

b. Real Estate Development Project

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41
Q
  1. In the absence of any stipulation to the contrary, the commission is payable in full

a. upon payment of the earnest money
b. upon the perfection of the contract
c. upon reservation
d. upon the consummation of the contract

A

d. upon the consummation of the contract

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42
Q
  1. This refers to that use in which all probability will yield the maximum return at a given time.

a. Principle of Progression
b. Principle of Regression
c. Highest and Best Use
d. Substitution

A

c. Highest and Best Use

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43
Q
  1. The position of trust assumed by the broker as an agent for the principal is most accurately described as :

a. Trustor relationship
b. Trustee relationship
c. Fiduciary Relationship
d. Confident Relationship

A

c. Fiduciary Relationship

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44
Q
  1. This is a condition where the price of real estate has a tendency to go down in view of the excess in supply vs. the actual demand of the market.

a. Seller’s Market
b. Buyer’s Market
c. Demanding Market
d. Everybody’s Market

A

b. Buyer’s Market

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45
Q
  1. This is an estimate or opinion of value, usually transmitted in writing, of a certain and adequately described property, as of a specific date, supported by a presentation and analysis of relevant and factual data.

a. Assessment
b. Appraisal
c. Evaluation
d. Accounting

A

b. Appraisal

46
Q
  1. A certificate to which the Proponent conforms to comply with existing environmental regulations or to operate within the best environmental practices that are not currently covered by existing laws

a. Environmental Undertaking
b. Environmental Development Permit
c. Environmental Clearance
d. Environmental Compliance Certificate

A

d. Environmental Compliance Certificate

47
Q
  1. A parcel of land was sold by a corporation to the buyer. In case of a corporation, it is required that the person who will sign the deed of absolute sale must be

a. The President of the corporation
b. The corporate secretary
c. The person authorized by a board resolution
d. The person authorized by the president

A

c. The person authorized by a board resolution

48
Q
  1. The following are considered to be “Real estate service practitioners” except:

a. Real Estate Broker
b. Real Estate Assessor
c. Real Estate Salesperson
d. Real Estate Dealer

A

d. Real Estate Dealer

49
Q
  1. This displacement of present residents by people of lower economic status and different social and cultural backgrounds.

a. Infiltration
b. Conformity
c. Substitution
d. Competition

A

a. Infiltration

50
Q
  1. The principle of value which states that value of property tends to be enhanced when there is a reasonable homogeneity in use.

a. Principle of Progression
b. Principle of Increasing Return
c. Principle of Highest and Best Use
d. Principle of Conformity

A

d. Principle of Conformity

51
Q
  1. When the loan is amortized be equal monthly payments, the amount applied to the principal:

a. Decreases while interest payment increases
b. Increases by constant amount
c. Interest increases while principal decreases
d. Increases while interest decreases

A

d. Increases while interest decreases

52
Q
  1. The seller realized a 30% gross profit over his cost. If the property is sold at 3,900,000.00, the cost is:

a. 5,075,000
b. 2,730,000
c. 3,000,000
d. 1,170,000

A

c. 3,000,000

53
Q
  1. At 18% interest per annum, how much is the interest of 1,500,000.00 loan for 65 days using 360 as the number of days in a year?

a. 270,000
b. 48,082.19
c. 48,750
d. 4,875

A

c. 48,750

54
Q
  1. A real estate broker obtained a net listing of 10,500,000. He sold the property at a price that is inclusive of his five percent (5%) commission, Capital Gains Tax and documentary stamps. The Deed of Sale provides that the buyer will pay for the transfer tax and registration fees. At how much did he sold the property?

a. 11,025,000
b. 12,000,000
c. 9,187.500
d. 11,812,500

A

b. 12,000,000

55
Q
  1. A hectare of land contains _ square meters.

a. 100,000
b. 1,000
c. 1,000,000
d. 10,000

A

d. 10,000

56
Q
  1. In studying a tract of land to estimate its value, what is the first necessary determination?

a. capitalization of estimate and income
b. comparison with sale of other properties
c. highest and best use
d. reproduction cost less depreciation

A

b. comparison with sale of other properties

57
Q
  1. This is a cooperative arrangement among real estate brokers whereby properties for sale or wanted by a broker is circularized to the others is referred to as

a. public listing
b. multiple listing
c. public multiple listing
d. cooperative listing

A

b. multiple listing

58
Q
  1. The step in the real estate brokerage process where the minds of the parties meet and the buyer offer of price, terms and other conditions finally become acceptable to the seller, or vice versa is referred to as

a. Final agreement
b. Finalization of sale
c. Deed of Absolute Sale
d. Closing

A

d. Closing

59
Q
  1. A Certificate certifying that, based on the submitted project description, the project is not covered by the EIS System and is not required to secure an environmental compliance certificate or ECC

a. Certificate of Exemption
b. Certificate of Compliance
c. Certificate of Non-Coverage
d. Certificate of Environmental Compliance

A

c. Certificate of Non-Coverage

Key not covered

60
Q
  1. Document to be checked before buying a subdivision lot.

a. Development Permit
b. License to Sell
c. DENR’s approval
d. Map

A

b. License to Sell

61
Q
  1. Zoning regulates the following, except:
    a. Use
    b. off-street parking
    c. building bulk
    d. population social status
A

d. population social status

62
Q
  1. It divides the community into districts and imposes different land use controls on each district, specifying the allowed uses of land and buildings, the intensity or density of such uses and the bulk of building on the land.

a. Subdivision
b. Zoning
c. Survey
d. Relocation

A

b. Zoning

63
Q
  1. This refers to the development that meets the needs of the present without compromising the ability of the future generations to meet their own needs

a. Real Estate Development
b. Sustainable Development
c. Urban Development Plan
d. none of the above

A

b. Sustainable Development

64
Q
  1. Who enacts zoning regulations?

a. Congress
b. President
c. Mayor
d. Local Legislative Councils

A

d. Local Legislative Councils

65
Q
  1. This refers to an enacted local legislation which embodies the regulations showing how each zone will be used ; what land use activities area allowed without any conditions; type of development that could take place after certain conditions are complies with and what activities are not allowed.

a. Zoning Ordinance
b. Land Use Plan Ordinance
c. Zoning
d. land classification ordinance

A

a. Zoning Ordinance

66
Q
  1. What do you call the component of an ecosystem which is composed of living organisms?

a. abiotic
b. biotic
c. social
d. chemical

A

b. biotic

67
Q
  1. Mr. X have been occupying the land for 30 years now. However, it is only this year in which the said land was declared in the Assessor’s office. For how many years will the Assessor assess the property for back taxes?

a. 30 years from the time he occupied the land
b. 20 years back taxes.
c. 10 years back taxes
d. Only the current tax will be imposed since it is only now that the property was discovered.

A

c. 10 years back taxes

68
Q
  1. This refers to the document containing studies on the environment effects of a project including the discussions on direct and indirect consequences of human welfare and ecological and environment integrity.

a. Environmental Impact Statement
b. Environment Compliance Certificate
c. Initial Environment Examination
d. None of the above

A

a. Environmental Impact Statement

Key is discussion (Statement)

69
Q
  1. An estimate and opinion of value

a. Conclusion
b. Appraisal
c. Computation
d. Analysis

A

b. Appraisal

70
Q
  1. A 240 sq. m. rectangular lot with a 12 meter frontage was enclosed with a fence made of concrete hollow blocks at 1.7 meters high above the ground with 0.30 meter below the ground. The fence costs 250.00 per sq. m. How much was total fencing cost if a 4 meter wide steel gate was installed costing 7,500?

a. 30,000
b. 37,500
c. 7,500
d. none of the above

A

b. 37,500

71
Q
  1. This is a condition where there are fewer real properties available vis-a vis a higher demand for it. In this case, the movement of prices will tend to go up because of higher demand.

a. Buyer’s Market
b. Principle of Progression
c. Principle of Regression
d. Seller’s market

A

d. Seller’s market

72
Q
  1. The formula for monthly amortization is :

a. Principal to be Financed x Time x Rate
b. Principal to be financed divided by amortization factor
c. Contract price x amortization factor
d. Principal to be financed x amortization factor

A

d. Principal to be financed x amortization factor

73
Q
  1. It is referred to as a financing source which will be provided by the developer of the subdivision

a. Bank financing
b. Pag-ibig Financing
c. In-house Financing
d.Buyer’s Financing

A

c. In-house Financing

74
Q
  1. This refers to a document embodying specific proposals for guiding, regulating growth and or development, The main components of this documents are the sectoral studies, the demography, socio-economic, infrastructure and utilities, local administration and land use.

a. Zoning Ordinance
b. Comprehensive Land Use Plan
c. Council’s Plan
d. Zoning

A

b. Comprehensive Land Use Plan

75
Q
  1. It refers to the acquisition of land at values based on existing use in advance of actual need to promote planned development and socialized housing

a. land assembly
b. land consolidation
c. land banking
d. land use

A

c. land banking

76
Q
  1. The area or natural environment in which an organism or population normally lives.

a. Niche
b. Habitat
c. Ecosystem
d. Population

A

b. Habitat

77
Q
  1. A major regional or global biotic community, such as a grassland or desert, characterized chiefly by the dominant forms of plant life and the prevailing climate.

a. Niche
b. biome
c. environment
d. habitat

A

b. biome

78
Q
  1. Under RA 7279, this shall be resorted to only when other modes of the acquisition have been exhausted

a. negotiated purchase
b. land consolidation
c. expropriation
d. joint venture agreement

A

c. expropriation

79
Q
  1. Mr. X, a resident of Quezon City, sold his property located in Makati City to Mr. Y. The Deed of Sale on the said transaction was notarized in Taguig City. Where should the Seller pay the capital gains tax?

a. Quezon City
b. Makati City
c. Taguig City
d. wherever he likes.

A

b. Makati City

80
Q
  1. This refers to areas that are ecologically, socially, or geologically sensitive as declared by Proclamation 2146 of 1981.

a. Environmentally Complex Areas
b. Environmentally Compelling Areas
c. Environmentally Critical Areas
d. none of the above

A

c. Environmentally Critical Areas

81
Q
  1. This is basically a result of the interplay of supply and demand of a certain product, such as real estate housing.

a. Inflation
b. Price
c. Intention
d. Motivation

A

b. Price

82
Q
  1. This is primarily based on the principle of substitution which implies that no prudent purchaser will pay more than what it will cost him to aquire an equally desirable substitute property.

a. The cost approach
b. The income approach
c. The market data approach
d. none of the above

A

c. The market data approach

83
Q
  1. One wherein the fee of the broker is stipulated as a percentage of the total consideration/selling price agreed.

a. net listing
b. interest listing
c. percentage listing
d. open listing

A

c. percentage listing

84
Q
  1. The following are the essential attributes of a real estate broker, except:

a. honesty and integrity
b. salesmanship
c. familiarity with the competing brokers
d. tact and diplomacy

A

c. familiarity with the competing brokers

85
Q
  1. The process of reconciling the opposing views of the parties to the transaction – the buyer and the seller – as to price and terms of the sale.

a. presentation and demonstration
b. pre-closing activities
c. negotiation
d. actual closing

A

c. negotiation

86
Q
  1. This is an authority given by a borrower for the broker to secure financing, or an authority given by a financing firm for the broker to procure borrowers.

a. Sales Agency
b. Exchange Agency
c. Purchase Agency
d. Mortgage/Loan Agency

A

d. Mortgage/Loan Agency

87
Q
  1. The following are types of appraisal, except:

a. Oral Report
b. Letter Report
c. Narrative Report
d. Form Report
e. All of the above

A

a. Oral Report

88
Q
  1. An authority given by a party for the broker to look for a joint venture artner, whether a landowner or the developer.

a. Purchase Agency
b. Sales Agency
c. Exchange Agency
d. Joint Venture Agency

A

d. Joint Venture Agency

89
Q
  1. A listing wherein the exclusive broker will not be entitled to commission if the owner himself sells the property.

a. Exclusive Right To Sell
b. Exclusive Agency
c. Sales Agenc
d. Open Listing

A

b. Exclusive Agency

90
Q
  1. Mr. X inherited a piece of land when he was still single. Then he got married to Ms. Y on August 10, 1988 without a marriage settlement. What is the nature of the property now that he is married?

a. conjugal property
b. exclusive property
c. community property
d. separate property

A

c. community property

91
Q
  1. Which of the following describes a buyer’s market?

a. there are many sellers in a particular area as against very few buyers
b. there are many properties for sale in particular area but many just want to rent
c. there are few properties for sale in a particular area and very many buyers
d. there are few properties for sale in a particular area and also very few buyers.

A

a. there are many sellers in a particular area as against very few buyers

92
Q
  1. For the hold-over clause to entitle the broker to a commission even if the sale was made after the lapse of his authority, the broker must.

a. Register his prospect during his authority
b. Submit written acknowledgment
c. Register and negotiate with the prospect during his authority
d. Bring the buyer to the seller

A

a. Register his prospect during his authority

93
Q
  1. It is a factor that triggers varied effects in real estate such as business activities, new income opportunities, environment and an enhanced market for construction materials.

a. Highest and Best use Theory
b. Multiplier Effect of Real Estate
c. Forces that create value
d. Competition and conformity

A

b. Multiplier Effect of Real Estate

94
Q
  1. The use of borrowed funds to increase purchasing power ideally to increase the profitability of an investment is:

a. Debt Coverage
b. Interim Financing
c. Limited Liability
d. Leverage

A

d. Leverage

95
Q
  1. A building is depreciated at 2.5% per year on a straight line basis. What is the estimated useful life ( better known as economic life) of the building?

a. 50 years
b. 40 years
c. 20 years
d. 10 years

A

b. 40 years

Computation: 12mos / .025 = 480 /12mos = 40 years

96
Q
  1. The economic life of a building is estimated to be 20 years. What would be the depreciation rate?

a. 4%
b. 5%
c. 0.5%
d. 0.4%

A

b. 5%

97
Q
  1. This refers to a duly registered and licensed natural person who works in a local government unit and performs appraisal and assessment of real properties, including plants, equipment, and machinery, essentially for taxation purposes.

a. Real Estate Consultant
b. City Accountant
c. Real Estate Appraiser
d. Real Estate Assessor

A

d. Real Estate Assessor

98
Q
  1. Mr. Sam pays monthly amortization of 27,050 for a parcel of land. The amortization factor for 5 years at 21% interest is 0.02705. If Mr. Sam paid a downpayment of 20% of the contract price, compute the principal obligation on which the monthly amortization is based.

a. 2,000,000
b. 1,000,000
c. 1,250,000
d. 1,623,000

A

b. 1,000,000

99
Q
  1. Assuming the same values in No. 98. What is the Contract Price

a. 2,000,000
b. 1,000,000
c. 1, 250,000
d. 1,623,000

A

c. 1, 250,000

100
Q
  1. An ecological community together with its environment, functions as a unit.

a. biome
b. ecosystem
c. environment
d. none of the above

A

b. ecosystem

101
Q
  1. The listing and selling brokers in real estate transactions split the commission equally. If the commission rate is 6% and the selling broker received P144,000, what is the selling price of the property?

a. 2,400,000
b. 1,200,000
c. 288,000
d. 4,800,000

A

d. 4,800,000

102
Q
  1. Mr. Smith, an American citizen, can acquire the following in the Philippines except:

a. condominium unit
b. shares of stock in XYZ Realty Corporation
c. parcel of land in Makati City
d. townhouse covered by a Condominium Certificate of Title

A

c. parcel of land in Makati City

103
Q
  1. In zoning, the conventional use categories are the following except:

a. commercial
b. residential
c. industrial
d. national parks
e. Agricultural

A

d. national parks

104
Q
  1. This is the scientific study of the relations that living organisms have with respect to each other and their natural environment.

a. Ecology
b. Zoology
c. Botany
d. Biology

A

a. Ecology

105
Q
  1. The function or position of an organism or population within an ecological community.

a. environment
b. biome
c. habitat
d. niche

A

d. Niche

106
Q
  1. It is a study of the ecology of a single specie

a. Zoology
b. Synecology
c. Autecology
d. Biology

A

c. Autecology

107
Q
  1. This is a kind of listing that can be given to 2 or more brokers:

a. Open listing
b. Close listing
c. Net Listing
d. Percentage Listing

A

a. Open listing

108
Q
  1. An authority given by a developer to a broker to look for a supplier of backfilling materials who shall be paid with developed lots is:

a. General Brokerage
b. Exchange Agency
c. Sales agency
d. Procurement Agency

A

b. Exchange Agency

109
Q
  1. Fixed object and point established by the surveyors to establish land locations

a. Boundary Mark
b. Cylindrical Concrete Monument
c. Post
d. none of the above

A

b. Cylindrical Concrete Monument

110
Q
  1. The appraisal approach that normally would be most useful in valuing investment property is the:

a. Sales comparison approach
b. Cost approach
c. Income capitalization approach
d. none of the above

A

c. Income capitalization approach

THE REAL ESTATE BROKER’S EXAMINATION (44 decks)

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