Board Exam Simulation HD General / Fundamentals (100 Pts) Flashcards
Which of the following is not an example of special purpose real estate?
a.
A private school
b.
A public library
c.
A shopping center
d.
A house and lot
The following are the Categories of lands, except
a.
Protected areas
b.
Alienable and disposable (A&D)
c.
Privately owned land
d.
Forest and Unclassified lands
In appraisal of an old building, economic life is the sum of :
a.
Actual age plus remaining physical life
b.
Actual age plus remaining economic life
c.
Effective age plus remaining economic life
d.
Effective age plus remaining physical life
A Real Investment Trust company shall distribute annually at least how much dividends to its shareholders:
a.
90%
b.
40%
c.
50%
d.
75%
The following are types of property descriptions ordinarily used in deeds, contracts, offer to sell, and leases, except:
a.
Rectangular Survey
b.
Bearings and azimuth
c.
Lot number
d.
Monuments
e.
Metes and Bounds
A scale map showing the dimensions of each parcel and related information such as parcel identifier, survey lines easements.
a.
Location Map
b.
Cadastral Map
c.
Topographic Map
d.
Sales Map
The Gross Income Multiplier is a factor derived from comparable properties and applied to expected rental income to estimate
a.
A value
b.
An established cost
c.
A gross income
d.
A known price
The three approaches to estimating value are
a.
cost, income, and replacement
b.
replacement, income, and reproduction
c.
cost, direct sales comparison, and income capitalization
d.
reproduction, cost, and income
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 a 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
To estimate market value, an appraiser follows the
a.
Appraisal report
b.
Valuation process
c.
Evaluation methodology
d.
Appraisal guidelines
In relation to the question prior to this, if commission of the joint venture broker is 5% to be shared by both parties on a pro-rata basis, based on land value agreed, how much is the commission of the broker which will come from the developer?
a.
P1,225,000.00
b.
P1,050,000.00
c.
P700,000.00
d.
P3,450,000.00
A contract to sell entered into the name of, and subsequently ratified by a licensed broker, by a sales agent who was not granted authority to sell, is:
a.
Voidable contract
b.
Rescissible contract
c.
Enforceable contract
d.
Void contract
The highest amount in terms of money that a property should bring given reasonable time exposure in the open and competitive market:
a.
Market Value
b.
Fair Market Value
c.
Salvage Value
d.
Zonal Value
Under socialized housing, the maximum right-of-way for major road is ________meters.
a.
10
b.
12
c.
14
d.
15
Considered real estate practitioners except:
a.
developer
b.
broker
c.
appraiser
d.
consultant
e.
assessor
Also known as the Comparative Approach, an appraisal procedure in which the market value estimate is predicated upon prices paid in actual market transactions and current listings.
a.
Cost Approach
b.
Income Approach
c.
Residual Technique
d.
Market Data Approach
Under Urban land Reform Act (PD 1517), the acquisition of lots of varying ownership through, among others, expropriation or negotiated purchase for the purpose of planning is
a.
Land Banking
b.
Land Exchange
c.
Land Use Plan
d.
Land Assembly
Amendment to the master deed of a condominium project approved by majority of the registered owners need also be approved by the city/municipal engineer and:
a.
Local government
b.
Housing and Urban Development Coordinating Council
c.
Department of Human Settlements and Urban Development
d.
Land Registration Authority
Which is one of the four criteria of highest and best use?
a.
Financially feasible
b.
Supply and demand
c.
Contribution
d.
Competition
This is an apparent force, relative to the earth’s surface, that causes deflection of moving objects to the right in the Northern Hemisphere and to the left in the Southern Hemisphere due to the earth’s rotation.
a.
Coriolis Effect
b.
Kyoto Protocol
c.
Dunning-Kruger Effect
d.
Impostor Syndrome
Any violation of R.A. 9646, including that of the IRR shall be meted the penalty of a fine of not less than:
a.
P200,000.00 or imprisonment of 2 years or both
b.
P100,000.00 or imprisonment of 2 years or both
c.
P100,000.00 or 2 yrs imprisonment or both upon the discretion of the court
d.
P200,000.00 or 2 yrs imprisonment or both upon the discretion of the court
The highest price estimated in terms of money that a real property is acquired by a buyer who is willing to buy and a seller who is willing to sell but is not obliged or anxious to sell; both of whom have adequate knowledge of the actual and potential use of the property offered for a reasonable time in the open market and neither parties under pressure to buy or sell:
a.
Market Value
b.
Valuation
c.
Value in Use
d.
Value in Exchange
A former natural born Filipino citizen may in addition to acquiring residential land under B.P. 185 may still acquire land for business or other purposes under R.A. 8179 provided the area does not exceed
a.
One (1) hectare of urban land or 2 hectares of rural land
b.
5,000 square meters of urban land or 3 hectares of rural land
c.
5,000 square meters of urban land or 5 hectares of rural land
d.
1,000 square meters of urban land or 3 hectares of rural land
Registration of sale of a five (5) hectare agricultural land must be accompanied by
a.
DAR Conversion Permit
b.
DAR Clearance
c.
DHSUD License to Sell
d.
LGU Development Permit