2016 - SET H - Feb. 28, 2016 Flashcards by Jane & Leo Censon

The buyer bought a 100 sqm. subdivision lot at P18,750.00/sqm. He paid 20% downpayment the balance payable in 180 equal amortizations at 11% interest per annum. He has paid 168 monthly amortizations amounting to P 2,881,272.55 exclusive of penalty interest of P42,000.00.

Compute for his cash surrender value under the Maceda Law, if any.

a. 2,839,272.55
b. 3,256,272.55
c. 2,881,272.55
d. 2,930,645.30

d. 2,930,645.30
Solution :
Payments:
Downpayment:
100 sqm x 18,750//sqm = 1,875,000
DP = 1,875,000 x 20% = 375,000
Amortization Payment @ 168 monthly payments = P2,881,272.55
Total Payments:
375,000+2,881,272.55 = 3,256,272.55
CSV = 1st 50% + 40% (14 years or 180 mos) = 90%
= 3,256,272.55 x 90% = 2,930,645.30

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For a farmlot subdivision, the rules provide that a farmlot should have a minimum size of:

a. 500 sqm
b. 750 sqm
c. 1,000 sqm
d. 1,500 sqm

c. 1,000 sqm

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This refers to the internment space for the bones of the dead

a. burial plot
b. ossuary
c. columbarium
d. cemetery

b. ossuary

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HUDCC MC No. 2, Jun. 8, 2015 provides that the latest price ceiling for low cost housing, BP 220 standard is:

a. 1,250,000
b. 450,000
c. 1,700,000
d. 3,000,000

c. 1,700,000

June 3, 2022 - 2,500,000

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In case of foreclosed property but the owner was about to redeem the property within the period of redemption, the following document must be presented to the Register of Deeds:

a. Certificate of Sale
b. Certificate of Non-Redemption
c. Certificate of Payment
d. Certificate of Redemption

d. Certificate of Redemption

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As provided for by Republic Act 7279, a developer of a subdivision project in 1996 is required to develop how many percentage of the project for socialized housing?

a. 30%
b. 20%
c. 40%
d. 10%

b. 20%

March 2018 - At least 15% of the Total Subdivision Area

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The amount of bond required from brokers and salesperson pursuant to HLURB Board Resolution No. 922 Series of 2014

a. brokers : 20,000; salesperson: 1,000
b. brokers: 10,000; salesperson 5,000
c. brokers: 5,000; salesperson 1,000
d. brokers: 50,000; salesperson 10,000

c. brokers: 5,000; salesperson 1,000

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Under the IRR of BP 220, the minimum lot size for a socialized single detached unit is.

a. 64 square meters
b. 72 square meters
c. 28 square meters
d. 46 square meters

a. 64 square meters

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This refers to housing programs and projects covering houses and lots or homelots only undertaken by the Government or the private sector for the underprivileged and homeless citizens which shall include sites and services development, long-term financing, liberalized terms on interest payments, and such other benefits in accordance with the provisions of RA 7279.

a. Economic Housing
b. Socialized Housing
c. Open Market Housing
d. Medium Cost Housing

b. Socialized Housing

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A contract where the creditor acquires the right to receive the fruits of the property with obligation to apply them to payment of interest and principal

a. Dacion en Pago
b. Usufruct
c. Mortgage
d. Antichresis

d. Antichresis

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The price ceiling for horizontal socialized housing pursuant to HUDCC Resolution No. 1, Series of 2013

a. 450,000
b. 400,000
c. 550,000
d. 750,000

a. 450,000

In the HUDCC resolution, the P450,000 price ceiling was adjusted into a multi-tiered set of socialized housing price ceiling,” Guintu added.

Under the price ceiling law, the price for a 22-square-meter socialized horizontal housing unit was P480,000.

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Under BP 220, the minimum floor area of a single detached socialized housing is:

a. 22 sq. m.
b. 30 sq. m.
c. 42 sq. m.
d. 18 sq. m.

d. 18 sq. m.

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This refers to sites and lands which, considering present characteristics and prevailing conditions, display marked and great potential of becoming urban areas within the period of five (5) years.

a. urban areas
b. rural areas
c. urbanizable areas
d. resettlement areas

c. urbanizable areas

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This refers to a stock corporation established in accordance with the Corporation Code of the Philippines and the rules and regulations promulgated by the Commission principally for the purpose of owning income - generating real estate assets.

a. Condominium Corporation
b. Real Estate Investment Trust
c. Homeowner’s association
d. none of the above

b. Real Estate Investment Trust

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Under PD 957, the minimum lot area for a single detached in an open market housing is :

a. 100 sq. m.
b. 72 sq. m.
c. 120 sq.m.
d. 64 sq.m.

c. 120 sq.m.

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Under the IRR of BP 220 it is a habitable dwelling unit which meets the minimum requirements for a shell house which includes as part thereof windows, doors and partition walls for separating functional areas

a. Basic house
b. Complete house
c. Minimum basic house
d. Livable house

b. Complete house

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This is the enabling act of any condominium project. This “enables” the condominium to exist and governs its existence.

a. Articles of Incorporation
b. Master Deed
c. Deed of Restriction
d. Condominium Certificate of Title

b. Master Deed

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This is a contract whereby part of the purchase price is paid upon execution of the contract and the balance to be paid within a stipulated period is property mortgaged back to the vendee to secure the payment of the balance.

a. Deed of Sale
b. Deed of Sale with Mortgage
c. Deed of Sale with Assumption of Mortgage
d. Contract to Sell

b. Deed of Sale with Mortgage

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In the absence of any provision in the master deed of a condominium project, the share of the unit owners in the common area is:

a. proportionate to his unit area
b. based on the value of his unit
c. equal to all other unit owners
d. decided by the majority of owners

c. equal to all other unit owners

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Unless the condominium corporation is earlier dissolved, the life of a condominium corporation is:

a. 10 years
b. 50 years
c. co-terminous with the life of the owner
d. co-terminous with the life of the building

d. co-terminous with the life of the building

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Amendment to the master deed of a condominium project approved by majority of unit owners. Majority is based on :

a. Number of condominium units
b. Floor Area of Ownership
c. Total Area of Condominium units
d. Any of the above

d. Any of the above

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Under the Urban and Development and Housing Act of 1992, the following are the criteria to qualify as beneficiary for the socialized housing program, except:

a. Must be a Filipino citizen
b. Must be underprivileged and homeless
c. Must not be a professional squatter or a member of a squatting syndicate
d. Must be able to make at least 20% downpayment

d. Must be able to make at least 20% downpayment

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The installment buyer of a residential condominium unit who has paid for 4 years but failed to pay instalments thereafter has the right to pay without additional interest the instalments due within a grace period of how many months?

a. 60 days grace period
b. 4 months
c. 1 month
d. no grace period

b. 4 months

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This refers to the annotation in the title which serves as notice that the property is subject to a pending litigation. It is a legal notice to the whole world that there is a dispute as to the title of the same.

a. adverse claim
b. Attachment
c. lis pendens
d. lien

c. lis pendens

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25. Under HUDCC Resolution No. 1 Series of 2015, the Rent Control Act shall continue for a period of: a. two years or from January 1, 2014 to December 31, 2015 b. one year or from January 1, 2016 to December 31, 2016 c. two years or from January 1, 2016 to December 31, 2017 d. three years or from January 1, 2016 to December 31, 2018

c. two years or from January 1, 2016 to December 31, 2017

26. When can ABC Corp redeem the foreclosed property from the bank? a. within the term of 1 year from the date of foreclosure b. within the term of 1 year from the date of registration of the auction sale c. within the term of 1 year from the date of mortgage d. until but not after the registration of the certificate of foreclosure sale with the Register of Deeds which in no case shall be more than three (3) months after foreclosure whichever is earlier.

d. until but not after the registration of the certificate of foreclosure sale with the Register of Deeds which in no case shall be more than three (3) months after foreclosure whichever is earlier.

27. One or more condominium unit owners may bring an action for partition by sale of the entire project when destruction to the project has rendered one half or more of the units untenable and unit owners holding more than ___ % in the areas are opposed to repair or restore: a. 10% b. 20% c. 30% d. 40%

c. 30%

28. This refers to any form of information, whether in words or in illustrations, disseminated or communicated in the same manner as an advertisement, solely for the purpose of initially informing or notifying the public about a project but not for the purpose of marketing or selling such project, or any lot, including any building or improvement thereon, or any unit thereof: a. advertisement b. Announcement c. social media site d. presentation

b. Announcement

29. Marital consent is not required in deed of sale, except: a. when the property relations of the spouses is one of absolute community; b. when the property relations of the spouses is one of absolute separation c. when the property relations between the spouses is one of the conjugal partnership and the property involved was acquired by onerous title during the marriage at the expense of the common fund. d. a and c

d. a and c

30. When the interest of participation of condominium unit owners in common area is proportionate, the formula applied is: a. Unit area divided by total area of the common area b. Unit area divided by total area of all condominium units c. Unit area divided by total area of all condominium units and common area d. Unit area divided by total floor area of condominium building

b. Unit area divided by total area of all condominium units

31. Under RA 8791, the maximum redemption period after extrajudicial foreclosure of a mortgage executed by a corporation in favor of a bank is: a. 3 months b. 6 months c. 12 months d. 24 months

a. 3 months

32. The license to sell issued to a developer may be suspended motu propio by the HLURB or by a. verified complaint by buyer b. written or oral complaint of buyer c. complaint by the real estate broker d. written complaint by at least 2/3 of the buyers

a. verified complaint by buyer

33. In mixed use condominium projects, the master deed may be amended by simple majority of the unit owners. Majority is based on : a. Number of condominium units b. Floor area of ownership c. Total area of condominium units d. Any of the above

b. Floor area of ownership

34. Torrens title is the best evidence of fee simple ownership because it is indefeasible and a. binding against the whole world b. had priority against tax declaration c. imprescriptible d. none of the above

c. imprescriptible

35. The following persons are disqualified to become lessee, except: a. Lawyers with respect to property of their clients under litigation which take part. b. Executors and Administrators of properties c. Husband and Wife when there is separation of property in marriage settlement and when there is judicial separation property d. Guardian with respect to property of ward guardianship

c. Husband and Wife when there is separation of property in marriage settlement and when there is judicial separation property

36. Under RA 6732, administrative reconstitution of lost or destroyed original copies of certificates may be availed of when the lost or destroyed certificates in the registry of deeds consist of at least: a. 10% of the titles in the registry b. 20% of all the titles in the registry c. 30% of the titles in the registry d. 40% of the titles in the registry

a. 10% of the titles in the registry

37. In case of violation by the developer, HLURB may impose administrative fines for violation of PD 957 not exceeding a. 100,000 b. 10,000 c. 20,000 d. 50,000

b. 10,000

38. The word "project" shall include the following which are required by law to be registered with the HLURB, except a. All subdivisions, including residential, commercial, farmlot, and industrial subdivisions; b. All condominiums, including residential and commercial condominiums; c. Any other similar projects, including cemeteries, memorial parks, and columbaria.his is sometimes referred to as vertical subdivision d. Sale of an agricultural lot by an individual

d. Sale of an agricultural lot by an individual

39. The following are not covered by Republic Act 6552 (Maceda Law), except; a. Sale to tenants under RA 3883, as amended b. Sale or financing of real estate on installment payments, including residential condominium apartments c. Installment sales involving residential properties but covered by deed of sale with mortgage and not by contract to sell. d. Installment sales covering industrial lots and commercial building

b. Sale or financing of real estate on installment payments, including residential condominium apartments

40. A buyer of a real estate has already paid in 8 years of installment for a total amount of 720,000 inclusive of 20,000.00 penalty. The cash surrender value of the property based on the Maceda law is : a. 455,000 b. 468,000 c. 481,000 d. 350,000

a. 455,000

41. The clause in a mortgage that gives the mortgagor the right to redeem his property upon the payment of his obligation to the mortgagee. a. Defeasance Clause b. Hold Over Clause c. Habendum Clause d. Acceleration Clause

a. Defeasance Clause

42. When the owner’s duplicate certificate of title is lost, the registered owner shall file a petition in court for: a. Judicial reconstitution b. Quieting of Title c. Administrative reconstitution d. Issuance of new duplicate certificate of title

d. Issuance of new duplicate certificate of title

43. What is the Rule in case area is different from that stated in the contract and the sale is for a lump sum: a. the vendee may accept the area included in the contract and reject b. the vendee may accept the whole area, but must pay for the excess area of the contract c. there shall be no increase or decrease of the price although there is a greater or lesser area than that stated in the contract. d. all of the above

c. there shall be no increase or decrease of the price although there is a greater or lesser area than that stated in the contract.

44. The REIT must have a minimum paid up capital of : a. 30,000,000 b. 300,000,000 c. 100,0000,000 d. 1,000,000

b. 300,000,000

45. In the legal contract/instrument between individuals as parties, the instrument must contain the following data concerning the parties, except: a. Full names and addresses b. Civil status and citizenship c. capacity and personality in the contract d. board resolution

d. board resolution

46. A provision in a financing agreement which renders the remaining principal balance of the loan immediately due and payable upon default in any stipulated installment. a.Defeasance clause b. Acceleration clause c. Escalation clause d. Open-end loan provision

b. Acceleration clause

47. Mr. Y sold a parcel of land to 2 or more buyers, who has a better right to the ownership of the property: a. the buyer in bad faith who first recorded the sale in the Registry of Property b. the buyer is good faith who can present the oldest title c. the buyer in good faith who was first in possession d. the buyer in good faith who first recorded sale in the Registry of property

d. the buyer in good faith who first recorded sale in the Registry of property

48. This refers to the articles of incorporation and by laws of a REIT a. Investor Securities b. Constitutive Documents c. Restricted Documents d. Material Contract

b. Constitutive Documents

49. If TCT has an annotation that says “subject to Rule 74, Section 4 of the Rules of Court”, it means that the property is an inherited property and any heir unduly deprived of his lawful participation in the estate has _ years to assert his rights over said property. a. ten years b. two years c. three years d. five years

b. two years

50. Registration of a real estate instrument can be given due course 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

d. all of the above

51. Registration of mortgage covering projects can only be affected when the deed is accompanied by permit to mortgage issued by: a. Local Government Unit b. Housing and Urban Development Coordinating Council c. Home Insurance Guarantee Corporation d. Housing and Land Use Regulatory Board

d. Housing and Land Use Regulatory Board

52. This means “let the buyer beware”. The buyer is duty-bound to examine the property he is purchasing and he assumes conditions which are readily ascertainable on the face of the title. a. Dacion En Pago b. Pactum Commissorium c. Pactum De Non Aliendo d. Caveat Emptor

d. Caveat Emptor

53. The following are modes of acquiring lands for the purposes of the Urban Development and Housing Act of 1992 except: a. Joint Venture Agreement b. Community Mortgage c. Accretion d. Negotiated Purchases

c. Accretion

54. X, owner of a 10-door apartment, rented a unit to Y for a period of one year. Under the law on lease, Y, without the consent of X, may perform the following act except: a. sublease the unit b. assign his rights c. suspend payment if X fails to make necessary repairs d. demand reimbursement constituting one half the value of the useful improvement introduced in good faith.

b. assign his rights

55. Under the law, in case a sale of a piece of land is through an agent, to be valid, the authority of the latter shall be a. must be notarized b. must be given to a real estate salesperson c. must be in writing d. must not have an expiry date

c. must be in writing

56. The right of foreclosure of real estate mortgage prescribe in: a. 5 years b. 10 years c. 20 years d. 3 years

b. 10 years

57. Jack and Jill executed a pre-nuptial agreement stipulating that the regime of separation of property shall govern their property relations during marriage. They got married on August 1, 1988. What system shall govern their property relations during their marriage? a. Conjugal Partnership of Gains b. Absolute Community c. Separation of Property d. none of the above

c. Separation of Property

58. The organization of a condominium corporation is optional if a. The condominium has less than 50 units b. The condominium is owned wholly by Filipinos c. The condominium is residential d. The condominium is less than ten storeys

b. The condominium is owned wholly by Filipinos

59. Mr. Smith sold his exclusive property without the consent of Mrs. Smith. The sale is: a. Valid b. Void c. Voidable d. Unenforceable

a. Valid

60. An action may be brought by one or more such persons for partition thereof by sale of the entire condominium project of the project has been in existence in excess of 50 years, that it is obsolete and uneconomical, and that condominium owners holding in aggregate an interest in the common areas as opposed to repair or restoration or remodelling or modernizing of the project of a. 30% b. 60% c. 50% d. 100%

c. 50%

61. Under the Rent Control Act, the lessor cannot demand more than _ deposit? a. 1 month b. 2 months c. 3 months d. 4 months

b. 2 months

62. This refers to a real estate mortgage that covers several properties. a. Open Mortgage b. Close Mortgage c. Blanket Mortgage d. Conventional Mortgage

c. Blanket Mortgage

63. This is a procedure whereby the property pledged as a security for a debt is sold to pay the debt in case of default. a. Forfeiture b. Foreclosure c. Pacto de Retro d. Rescission

b. Foreclosure

64. A contract shall be presumed to be an equitable mortgage in the following instances, except: a. When the purchaser retains for himself to pay a part of the purchase price. b. When the price of sale with the right to repurchase is usually adequate. c. When the vendor binds himself to pay the realty taxes on the property sold. d. When upon and after the expiration of the right to repurchase, another instrument extending the period of redemption and granting a new period is executed.

b. When the price of sale with the right to repurchase is usually adequate.

65. Mr. Buyer has paid 20 monthly installment payments and defaults on the succeeding installments, under the Realty Installment Buyers Protective Act, he is entitled to a grace period of a. 20 months b. 5 months c. 2 months d. no grace period is being granted

c. 2 months

66. The maximum amount of increase per year if the rental of a residential house amount to 2,999 pursuant to HUDCC Resolution No1, Series of 2015? a. 3% b. 7% c. 4% d. 5%

c. 4%

67. The buyer bought a 200 sq.m. commercial lot at P20,000.00/sqm. He paid 20% downpayment the balance payable in 180 equal amortizations at 22% interest per annum. He has paid 168 monthly amortizations totaling P 3,872,000 inclusive of penalty interest of P72,000.00. Compute for his cash surrender value under the Maceda Law. What is the cash surrender value under the Maceda law, if any. a. 4,370,000 b. 4,140,000 c. 4,204,800 d. None of the above

Sol. Lot (200 sqm x 20k) = 4m DP (4m x20%) = 800k Payment: Amort 168mos = 3,872,000 DP =. 800,000 Total Payment. = 4,672,000 less penalty (72,000) net = 4,600,000 CSV (4,600,000 x 90%) = 4,140,000

68. A legal provision which requires agreements for sale or real estate to be in writing in order to be enforceable. a. Statute of Frauds b. Escrow c. Quitclaim d. Bundle of Rights

a. Statute of Frauds c.

69. In case there is an agreement as to the period of repurchase in pacto de retro sale, such agreed period must not exceed: a. 4 years b. 5 years c. 10 years d. 15 years

c. 10 years

70. In case there is no agreement as to the period of repurchase in pacto de retro sales, the period shall be: a. 4 years b. 5 years c. 10 years d. 15 years

a. 4 years

71. Registration of real estate instrument can be given due course without the presentation of the owner’s duplicate certificate of title under the following, except a. Notice of lis pendens b. Writ of attachment c. Deed of Absolute Sale d. Notice of Adverse Claim

c. Deed of Absolute Sale

72. The purpose of a condominium corporation is to hold title to the land and a. provide security to the owners b. manage the condominium facilities c. act as the management body d. collect condominium dues

c. act as the management body

73. Subdivision and Condominium Buyer’s Protective Decree is: a. PD 1216 b. PD 957 c. RA 7279 d. BP 220

b. PD 957

74. The following are the eligibility criteria for socialized housing program beneficiaries, except. a. Must be a Filipino citizen b. Must be an underprivileged and homeless citizen c. Must not own any real property whether in the urban or rural areas d. Must be a professional squatter or a member of any squatting syndicate.

d. Must be a professional squatter or a member of any squatting syndicate.

75. This refers to the beneficiaries of this RA 7279 and to individuals or families residing in urban and urbanizable areas whose income or combined household income falls within the poverty threshold as defined by the National Economic and Development Authority and who do not own housing facilities. a. small property owners b. Underprivileged and homeless citizens c. squatting syndicates d. professional squatters

b. Underprivileged and homeless citizens

76. A subdivision plan of a registered land wherein a street, passageway or open space is delineated on the plan a. Complicated Subdivision Plan b. Complex Land Use Plan c. Simple Subdivision Plan d. Complex Subdivision Plan

d. Complex Subdivision Plan

77. This refers to the lines that indicate variation in the land elevation. a. Tie Line b. Tie Point c. Contour Intervals d. Contour Lines

d. Contour Lines

78. In Maceda law, when can the seller cancel the contract if the buyer fails to pay the instalment due at the expiration of the 60 days grace period. a. the seller may cancel after 60 days from receipt of the buyer of the notice of cancellation or the demand for rescission of the contract by a notarial act. b. the seller may cancel after 30 days from receipt of the seller of the notice of cancellation or the demand for rescission of the contract by a notarial act. c. the seller may cancel after 30 days from receipt of the buyer of the notice of cancellation or the demand for rescission of the contract.. d. the seller may cancel after 30 days from receipt of the buyer of the notice of cancellation or the demand for rescission of the contract by a notarial act

d. the seller may cancel after 30 days from receipt of the buyer of the notice of cancellation or the demand for rescission of the contract by a notarial act

79. Under the IRR of PD 957, the maximum length of a block in a subdivision should be a. 1,000 meters b. 100 meters c. 400 meters d. 300 meters

c. 400 meters

. It shall be the regulatory body for housing and land development. a. National Housing Authority b. Home Guarantee Corporation c. Housing and Land Use Regulatory Board d. Home Development Mutual Fund

c. Housing and Land Use Regulatory Board

81. A condominium corporation shall not during its existence, sell, exchange, lease or otherwise dispose of the common areas owned or held by it in the condominium project, unless authorized by: a. simple majority on a per unit of ownership b. affirmative vote of a simple majority of the registered owners c. affirmative vote of all the stockholders or members d. simple majority on a floor area of ownership

b. affirmative vote of a simple majority of the registered owners

82. This refers to the conversion of unimproved rawland into a site that will be capable of supporting a desired activity and intended usage, which may be for residential, commercial or industrial purposes. a. Subdivision Development b. Zoning c. Resettlement d. none of the above

a. Subdivision Development

83. What does BLLM mean? a. Bureau of Location Lands and Monument b. Barrio of Lands Location and Monument c. Bureau of Lands Location and Monuments d. Biggest Landmark Location and Monuments

c. Bureau of Lands Location and Monuments

84. A public way with a width of 2.0 meters intended to break a block and to serve both pedestrian and emergency vehicles a. Alley b. Pathway c. walkway d. main road

a. Alley

85. A kind of mortgage which can be paid off even before its maturity. a. Open Mortgage b. Closed Mortgage c. Voluntary Mortgage d. Judicial Mortgage

a. Open Mortgage

86. The board of the association may be dissolved through a process of a. Petition to the HLURB b. Signed petition of at least a simple majority of the association c. Signed petition of at least 2/3 of the association members d. Meeting of at least a simple majority of members

c. Signed petition of at least 2/3 of the association members

87. A hold or a claim which person has upon a property of another. a. Lis pendens b. Lien c. Latches d. Forfeiture

b. Lien

88. A contract whereby a person binds himself to render some service or to do something in representation or on behalf of another, with the consent or authority of the latter. a. Contract to Sell b. Lease Contract c. Deed of Sale d. Contract of Agency

d. Contract of Agency

89. This means the entire project excepting all units separately granted or held or reserved. a. project b. unit c. common areas d. Condominium

c. common areas

90. The law providing for a Comprehensive and Integrated Shelter and Urban Development Financing Program is a. PD 957 b. RA 6552 c. RA 7279 d. EO 90

d. EO 90

91. A license to sell and performance bond shall not be required in any of the following transactions: a. Sale of a subdivision lot resulting from the partition of land among co-owners and co-heirs. b. Sale or transfer of a subdivision lot by the original purchaser thereof and any subsequent sale of the same lot. c. Sale of a subdivision lot or a condominium unit or by or for the account a mortgagee in the ordinary course of business when necessary to liquidate the bona fide debt. d. all of the above

d. all of the above

92. A transaction through which the mortgagor, or one claiming in his right, by means of payment or the performance of a condition, re-acquires or buys back the value of one title which have passed under the mortgage. a. foreclosure b. Redemption c. mortgage d. sale

b. Redemption

93. This means an implied renewal of lease: a. Tacita Reconduccion b. Quitclaim c. Ejectment d. Injunction

a. Tacita Reconduccion

94. It shall formulate and promulgate, in consultation with concerned sectors, rules and regulations necessary to implement the provision of the Magna Carta for homeowners and homeowner’s association. No rule or regulation shall be issued which tends to undermine the organization and territorial integrity of any association. a. NHA b. HLURB d. SEC c. HUDCC

b. HLURB

95. How can a Director or Trustee of the Homeowner’s Association be removed? a. through a signed petition of 2/3 of the association members in good standing. b. through a signed petition of a simple majority of the association members in good standing. c. through a signed petition of 2/3 of the members of the board d. through a signed petition of 1/2 of the association members in good standing.

b. through a signed petition of a simple majority of the association members in good standing.

96. A lot situated at the intersection of two or more streets a. inner lot b. intersection lot c. corner lot d. through lot

c. corner lot

97. A parcel of land of the owner is sold to a corporation but the owner is to be represented by his son. It is therefore required to have a a. Board Resolution b. General Power of Attorney c. Corporate Secretary’s Certificate d. Special Power of Attorney

d. Special Power of Attorney

98. The fact of the extrajudicial settlement or affidavit of adjudication must be published: a. once a week for 4 consecutive weeks in news paper of general circulation b. once a week for 3 consecutive weeks in newspaper of local circulation c. once a week for 3 consecutive weeks in newspaper of general circulation d. once a week for 4 consecutive weeks in newspaper of local circulation

c. once a week for 3 consecutive weeks in newspaper of general circulation

99. Special Power of Attorney are necessary in the following cases, except a. to lease any property for more than a year b. to convey real rights on immovable property c. to perform acts of administration d. to cancel any obligation gratuitously

c. to perform acts of administration

100. In case one cannot find or locate his copy of the owner’s duplicate of title, he must file with the register of deeds the following a. Affidavit of Recovery b. Affidavit of Loss c. Sworn Statement of loss of original copy d. Sworn statement of ownership

b. Affidavit of Loss

101. The form of deed used to return title to real estate to its owner when the debt secured by a deed of trust is paid in full is the: a. Warranty deed b. Reconveyance deed c. Quitclaim deed d. Tax deed

b. Reconveyance deed

102. Which one is not an example of involuntary alienation of the property? a. sale for tax delinquency b. foreclosure of mortgage c. expropriation d. sale to an alien buyer

d. sale to an alien buyer

103. For a space to be considered a condominium unit. It must: a. Be encompassed by the interior surface of the wall, floors, ceiling b. Be managed by a condominium corporation c. Be susceptible to independent use and ownership d. Be unencumbered by any restriction

c. Be susceptible to independent use and ownership

104. The following are considered as Environmental Critical Projects by Proclamation No. 2146, except: a. heavy industries b. resource extractive c. golf courses d. vegetables farming

d. vegetables farming

105. No voluntary instrument of sale shall be registered by the Register of Deeds, unless this is presented with such instrument a. Certificate Authorizing Registration b. Original Owner’s Duplicate c. Duplicate Owner’s Copy of Certificate of Title d. Deed of Absolute Sale

c. Duplicate Owner’s Copy of Certificate of Title