Board Exam Simulation HD Professional Practice (200 Pts) Flashcards
The equilibrium price is also called____
a.
Market -clearing price
b.
Equilibrium cost
c.
Increased supply
Lien on property with unpaid taxes.
a.
Tax lien
b.
Mortgage lien
c.
Mechanic lien
Establishing Priorities and Procedures in Evaluating Areas for Land Conversion in Regional Agricultural/lndustrial Centers, Tourism Development Areas Sites for Socialized Housing
a.
EO 124
b.
EO 125
c.
EO 126
A certification issued by the EMB certifying that, based on the submitted project description, the project is not covered by the EIS System and is not required to secure an ECG
a.
Certificate of Non-Coverage
b.
Certificate of Teaching
c.
Certificate of Coverage
Any person, natural or juridical, who is engaged in the trade of selling
a.
Dealer
b.
Broker
c.
Buyer
Assuming that the Supreme Court rules with finality that Senator Grace Poe is not a natural-born Filipino Citizen; can she still own private lands in the Philippines?
a.
Yes, because she was an American Citizen who reacquired Philippine Citizenship in accordance with R.A. 9225
b.
Yes, she can own private Philippine Lands but only by succession
c.
No, because only natural born Filipino Citizens can own private Philippine lands
d.
Yes, but only a maximum area of 5000 square meters in case of urban land, and 3 hectares in case of rural land for business or other purpose
A tax is shifted forward to consumers if the demand is inelastic relative to supply
a.
The statement is correct
b.
The statement is not true
c.
Statement AL Bis correct
What is a process to determine the best location for new site and service scheme?
a.
Suitability mapping
b.
Location mapping
c.
Site mapping
The movement of prices will tend to go up because of the higher demand.
a.
Sellers Market
b.
Public market
c.
Buyers Market
Formal declaration in the presence of a notary public or official designated by law.
a.
Acknowledgement
b.
Complaint
c.
Filing
Imposes upon the owner of the servient estate the obligation of allowing something to be done or of doing it himself.
a.
Positive easement
b.
Negative easement
c.
Netraul easement
When demand is price inelastic ,a price decrease and makes the total revenue
a.
Reduces
b.
Unchanged
c.
Increases
This of the following refers to meeting the needs of the present without compromising the ability of future generations to meet their own needs.
a.
Conservation
b.
Reproduction
c.
Bioremediation
Key to orderly and rational land development in any local government unit.
a.
Planning
b.
Analyzing
c.
Implementing
The added desirability or utility of a property due to its frontage to two streets, which provides better ventilation for residential purposes, easier accessibility and more commercial display for commercial and industrial utilization.
a.
Corner Influence
b.
Corner Lot
c.
Plottage
d.
Plottage Value
Party wall or fence use commonly by parties are expense by.
a.
All party
b.
Party who build
c.
All or one party
Refers to lands where naturally occurring energy resources exist.
a.
Energy resources lands
b.
Power plant
c.
Energy production
The highest and best use of a site is its
a.
Current or Existing use
b.
Most probable use that is legal, physically possible and provides the highest financial returns
c.
Immediate& necessary use
d.
Ordinary and Least expensive use
Refers to an area within a city or municipality intended for cultivation and pastoral activities.
a.
Agricultural zone
b.
Pastoral zone
c.
Cultivation zone
How can a corporation mortgage all or substantially all of its property?
a.
Requires majority vote of board of directors and authorized by vote of stockholders representing at least two-thirds
b.
Requires majority vote of board of directors, and authorization of stockholders not necessary
c.
Requires majority vote of board of directors and authorized by vote of stockholders representing at least majority
d.
Requires two-thirds vote of board of directors and authorized by vote of stockholders representing at least two-thirds
Estimate of how old the building appears to be.
a.
Effective age
b.
Physical age
c.
Appearance
Refers to the EMB PEPP EMS as provided for under DAO 2003-14, which is a part of the overall management system of a project or organization that includes environmental policy, organizational structure, planning activities, responsibilities, practices, procedures, processes and resources for developing, implementing, achieving, reviewing and maintaining an improved overall environmental performance.
a.
Environmental Management Systems
b.
Environmental certificate of compliance
c.
Compliance certificate
This allows collaborative partnership among the local government, business and society.
a.
Local Governance
b.
Local execution
c.
Local implementation
Refer to lands where mineral including energy resources are found.
a.
Mineral land
b.
Resources
c.
Energy resources
The lowering of soil and water pH due to acid precipitation and deposition usually through precipitation.
a.
Acidification
b.
Condensation
c.
Precipitation
What is the correct term for plants releasing water from their leaves, which then evaporates?
a.
Transpiration
b.
Evaporation
c.
Precipitation
Government credit agencies that provide loans directly for farmers and home mortgagors.
a.
Government-sponsored enterprises
b.
Finance companies
c.
Securities firm
Review of a Valuer’s work undertaken by another Valuer exercising impartial judgment.
a.
Valuation review
b.
Desk review
c.
Peer review
What is the method used to determine direction using your bare foot?
a.
Pacing
b.
Walking
c.
Running
Refers to the type of listing that can be given to more than two brokers
a.
Open listing
b.
Multiple listing
c.
Double listing
The one element in a real estate development that cannot be duplicated exactly by competition:
a.
Location
b.
Land Use Plan
c.
Improvement
d.
Amenities
Because the physical asset land and building is not transferred physically from one buyer to another, the right to possession, use and enjoyment may be divisible into. This characteristic of land refers to its:
a.
Divisibility
b.
Modifiable
c.
Immobility
d.
Durability
Mr. Ang was planning to develop his real property into a subdivision project. He approached his friend, Mr. Chua, who was previously employed in a real estate development corporation but has since retired. Mr. Chua is not a licensed real estate practitioner. Mr. Chua generously advised Mr. Ang on the conception, planning, management and development of Mr. Ang’s real estate projects, without accepting salary or any form of compensation. Is Mr. Chua liable under R.A. 9646?
a.
No, he is not liable because he is only assisting his friend, Mr. Ang, without accepting any compensation.
b.
Yes, he is liable because he is engaged in real estate practice without accepting compensation, which is an unfair competition to other practitioners who have to charge a fee.
c.
Yes, he is not a licensed real estate practitioner and he is performing the job of real estate consultancy.
d.
No, he is not liable because under the Grandfather Clause of R.A. 9646, former employees of real estate development corporations enjoy the presumption of competence, which qualifies them to engage in real estate practice even after retirement.
arget number of trees to plant for NGP
a.
1.5 billion
b.
1 billion
c.
1 million
The loan amount retained to ensure cancellation of mortgage/s prior to PAG-IBIG Fund.
a.
5%
b.
2%
c.
3%
A promissory note evidencing a loan in which interest only payment made periodically and the principal paid in one lump sum maturity.
a.
Straight note
b.
Promissory note
c.
Interest note
What is the meaning of CENRO?
a.
Community Environment and Natural Resources office
b.
Community Environment and Natural Resourcing office
c.
Community Environment and Natural Resources officer
Difference between the value of the property and current debt.
a.
Equity
b.
Net income
c.
Net payable
A kind of draft that shows the arrows pointing to a particular direction?
a.
Maps or survey plans
b.
Compass
c.
Elevation
Area required to be reserved for roads, alleys and open spaces in a subdivision with an area of one (1) hectare or more.
a.
Twenty percent (20%) of the gross area
b.
Thirty-five (35%) of the gross area
c.
Twenty-five percent (25%) of the gross area
d.
Thirty percent (30%) of the gross area
The normal wear and tear that a building experiences as it ages and it depends on the original quality of construction and the level of ongoing maintenance.
a.
Physical deterioration
b.
Depreciation
c.
Quality
The pre-emptive right of the tenant or resident to buy the leased premises sold by the owner
a.
Right of First Refusal
b.
Privileged
c.
Reserve
A person who has obtained either real estate salespersons license or real estate broker license.
a.
Real estate agent
b.
Real estate developer
c.
Real estate manager
Refers to the areas where the structures are dilapidated obsolete and unsanitary
a.
Blighted areas
b.
Old areas
c.
Abandoned areas
The flow of water over land from rain, melting snow, or other sources.
a.
Run off
b.
Land slide
c.
Soil erosion
Refers to a listing agreement where sellers agree to list the property to only broker one broker.
a.
Exclusive listing
b.
Close listing
c.
Open listing
Fruits on the exclusive property of wife shall be_____.
a.
Conjugal property
b.
Property of wife
c.
Paraphernal
If a husband is incapacitated who has the power of administration of their properties.
a.
Wife
b.
Son or Daughter
c.
Court
Use as an instrument to help finance and develop infrastructure projects
a.
Capital Market
b.
Economic Market
c.
Community
Method for appraising real estate based on its income.
a.
Income capitalization approach
b.
Income-Expense Approach
c.
Capital approach
A reversible chemical reaction when ions with the same charge can be switched. This can be used in purification of a substance.
a.
Ion exchange
b.
Molecular exchange
c.
Covalent exchange
Refers to a professional administrator of real properties who is engaged by the REIT to provide property management services and lease management services.
a.
Property Manager
b.
Property owner
c.
Property administrator
The percentage change in quantity supplied divided by the percentage change in price.
a.
Price elasticity of supply
b.
Price elasticity
c.
Price elasticity of demand
The principal has the right to employ other broker.
a.
Open listing
b.
Close listing
c.
Multi listing
The process of discounting income expectancies to a present worth is called
a.
Rate analysis
b.
Capitalized expenses
c.
Capitalization
d.
Net income
Private corporation shall lease for an initial period not exceeding_____.
a.
25 years
b.
50 years
c.
10 years
Refers to lands within the critical watershed, brackish and freshwater wetlands, pasture lands, and croplands which require rehabilitation and whose continued unsustainable use would adversely affect the productivity of lowland agricultural areas and the stability of the upland system.
a.
Ecologically fragile land
b.
Critical land
c.
Dangerous land
Broker or dealer shall deal in or otherwise buy or sell, for its own account or for the account of customers.
a.
Broker only
b.
Dealer only
c.
Both are prohibited
The distribution of the appraised value of the property between land and building.
a.
Allocation
b.
Matching
c.
Distribution
Risk due to the use of debt financing.
a.
Financial risk
b.
Business risk
c.
Operational risk
Dual citizen Filipinos can be allowed to be candidate in a national election upon.
a.
Renunciation of foreign citizenship
b.
Filing of candidacy
c.
Order of the court
What method of land use survey done by walking
a.
Foot survey
b.
Pace survey
c.
Actual survey
What is the meaning of RLUC?
a.
Regional Land Use Committee
b.
Regional Land User Committee
c.
Regional Land Use Council
The seller receives the full payment from the buyer.
a.
Cash sale
b.
Full sale
c.
Option sale
Valuation approach use in the unique properties such as the church
a.
Cost approach
b.
Income approach
c.
Sales approach
It is mandated to promulgate zoning and other land use control standards and guidelines.
a.
Housing and Land Use Regulatory Board
b.
NHA
c.
HMDF
Land use planning helps to conserve areas of ecological, aesthetic, historical and cultural significance
a.
True
b.
False
c.
Maybe
Refers to a land usually bounded by streets.
a.
Block
b.
Division
c.
Street division
A lease with fixed rent for an initial term and provision for predetermined increases at specified interval.
a.
Step up lease
b.
Increasing lease
c.
Upward lease
Per BIR Ruling No. 28-98, the ground floor of a condominium project shall be classified as commercial and an additional rate shall be added to an established residential zonal value. The rate to be added is.
a.
Ten percent (10%)
b.
Fifteen percent
c.
Twenty percent
d.
Twenty five percent
Its function is to find a lender and secure a loan for the principal.
a.
Loan Agency
b.
Lender agency
c.
Principal agency
It occurs in neritic zones of warm, tropical water, dominated by cnidarians, very productive and protects land from storms.
a.
Coral reefs
b.
Deep-sea vent
c.
Seashore
A private commodity which can be owned, used, bought or sold?
a.
Land
b.
Property
c.
Real estate
Refers to one who is motivated, but not compelled to buy.
a.
Willing buyer
b.
Free buyer
c.
Motivated buyer
Use of public water is acquired by all, except.
a.
By prescription of 5 years
b.
Administrative concession
c.
By prescription of 10 years
Basically a result of the interplay of supply and demand of a certain product, such as real estate housing.
a.
Price
b.
Area
c.
Construction
Who are the participants in conducting Goal-achievement analysis?
a.
Stakeholders
b.
People
c.
Citizen
Refers to lands which are not registered with the Register of Deeds
a.
Unregistered or abandoned land
b.
Idle land
c.
Open land
Have the right to act as the executive head of the LUPA and Secretary of the Board and perform the powers and function.
a.
Administrator
b.
Manager
c.
supervisor
Its purpose is to develop other development controls to ensure an objective implementation of the CLUP
a.
Drafting the Zoning ordinance
b.
Zoning ordinance
c.
Ordinance approval
Right created by fiction of law, by virtue of which the representative is raised to the place and the degree of the person represented
a.
Representation
b.
Proxy
c.
Replacement
Refers to the flow of wages .interest payments .dividends .and other things of value accruing during a period of time.
a.
Income
b.
Salary
c.
Status
It tries to describe, explain, and predict patterns of prices, demand and supply
a.
Real Estate Market Economy
b.
Real Estate Economics
c.
Real Estate
Describes a situation where an entire business is transferred as an operational entity.
a.
Going concern value
b.
Business value
c.
Operational value
When the seller help finance part or all of the purchase price.
a.
Seller financing
b.
Buyer financing
c.
Financer
A concept where a person property is not just for his own exclusive used or benefit but for the good and general welfare of all
a.
Steward concept
b.
Sharing concept
c.
Ownership concept
Refers to the land and all those items which are attached to the land.
a.
Real Property
b.
Real Estate
c.
Realty
The result of subtracting the vacancy and collection loss from potential gross income.
a.
Effective gross income
b.
Net profit
c.
Net income
Who will appraise the comprehensive land use plans of cities, provinces, etc.?
a.
Regional land use committee
b.
HLURB
c.
Appraiser
An authority given by a party for the broker to look for joint venture partner.
a.
Joint venture agency
b.
Partner agency
c.
Joint agency
An expert who studies the flooding areas.
a.
Hydrologist
b.
Environmentalist
c.
Forestry
The determination of the real ownership on the land
a.
Land title
b.
Land ownership
c.
Land holding
To carry out the purposes of this Act the Commission shall retain and use 50% of all fees paid to it, relative to the establishment of REITs and the registration of their securities to annual budget.
a.
Use of Registration Fees
b.
Registration
c.
Transfer of Real Property
Succession that occurs after the original population has been destroyed or disturbed, as with a forest fire.
a.
Secondary succession
b.
Primary succession
c.
Tertiary succession
Which statement is correct? A non-stock, non-profit charitable association that sells its idle agricultural property is:
a.
Required to pay the 6 % capital gains tax on the gross selling price of fair market value, whichever is higher
b.
Mandated to pay the 30% regular corporate income tax on the gain from the sale
c.
Required to withhold the applicable expanded withholding tax rate on the transaction and remit the same to the BIR
d.
Not required to file an income tax return or pay income tax on the transaction to the BIR, provided the sales proceeds are invested in another real estate during the year
Income payment to a REIT shall be subject to a lower creditable withholding tax of 1%.
a.
Creditable Withholding Tax
b.
Income Taxation of REIT
c.
Transfer of Real Property
Refers to the linking of the consumption and production areas through appropriate infrastructure system.
a.
Spatial Integration
b.
Infrastructure integration
c.
Production integration
The primary strategy in providing shelter for the underprivileged and homeless.
a.
Socialized housing
b.
Special housing
c.
Poor housing
Who are qualified beneficiaries for socialized housing program?
a.
Filipino citizen
b.
Foreigner
c.
Alien
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
What makes the lot or survey number unique?
a.
No duplicate
b.
Numbered
c.
Coded
The type of listing that gives the real estate broker the greatest protection
a.
Exclusive agency listing
b.
Net Listing
c.
Open Listing
d.
Exclusive Right to Sell Listing
A process where a soil is deposited.
a.
Accretion
b.
Reclamation
c.
Alluvium
Method of land valuation in the absence of vacant land sales, whereby improvement values obtained from the cost model are subtracted from sales prices of improved parcels to yield residual land value estimates.
a.
Abstraction method
b.
Desk method
c.
Sale price method
Section in the EIS that details the prevention, mitigation, compensation, contingency and monitoring measures to enhance positive impacts and minimize negative impacts and risks of a proposed project or undertaking.
a.
Environmental Management Plan
b.
Management plan
c.
Environmental plan
Additional element of value created by the combination of two or more interests where the value of the combined interest is worth more than the sum of the original interests.
a.
Synergistic value
b.
Plottage value
c.
Market value
The first person to use the word to name the study of how organisms fit into their environment
a.
Ernst Haeckel
b.
Sigmund Freud
c.
Isaac Newton
What is the term refers to the reference monument, like BLLM or BBM, where the corner no. 1 of the lot is connected
a.
Tie Point
b.
Tie Line
c.
Distance
A legal procedure whereby property used as security debt is sold to satisfy debt.
a.
Foreclosure
b.
Auction
c.
Default
It deals with capital investment that supports spatial integration, production efficiency and social service delivery.
a.
Infrastructure development
b.
Social integrity
c.
Production integrity
How many percent of the total land can be reclassified by the LGU for the 4th and 6th class municipalities?
a.
5%
b.
3%
c.
4%
The business of making sales and purchases for a commission.
a.
Brokerage
b.
Buy and sell
c.
Business
Real estate Economics tries to describe, explain, and predict patterns of___
a.
prices, supply, and demand
b.
prices, income, and demand
c.
prices, consumer, and demand
The wife right on the property of the husband.
a.
Dower
b.
Capital
c.
Paraphernal
In pag-ibig, the six months interim insurance and 2k processing fee is referred to as.
a.
Deductions on the first loan release
b.
Deductions on final loan releases
c.
Deductions on prospective loan releases
he_______is the one who receive commission on property being sold.
a.
Broker
b.
Cashier
c.
seller
A very important formula for the computation involving real estate financing is: MONTHLY AMORTIZATION [ M A ] = Principal to be financed x Amortization Factor
a.
True
b.
False
c.
Both A and B
Major requirements for a real estate broker.
a.
Valid license as real estate broker
b.
Paid Taxes
c.
Attended Seminars
Refers to the legitimate lessees of houses.
a.
Residents
b.
Owner
c.
Occupants
The system of combining all properties into a common list.
a.
Multiple listing
b.
Multi- listing
c.
Poly-listing
Project or program that has high potential for significant negative environmental impact.
a.
Environmentally critical project
b.
Environmentally critical area
c.
Environmentally critical program
Value to a specific investor with a specific plan for the property.
a.
Investment value
b.
Investor value
c.
Specific value
The purpose of this step is to establish a preferred land use alternative.
a.
Establishing the Development Thrust and Spatial Strategies
b.
Establishing the Thrust and Spatial Strategies
c.
Establishing the Development and Spatial Strategies
Filipino citizens may lease not more than._______
a.
500 hectares
b.
1000 hectares
c.
800 hectares
What is the organisms that breakdown substances into simpler substances?
a.
Decomposer
b.
Producer
c.
Consumer
How many percent of the total land can be reclassified in the urbanized independent cities?
a.
15%
b.
20%
c.
30%
Guide costumers to the process of selecting suitable mortgage package with competitive package offers.
a.
Mortgage broker
b.
Property broker
c.
Sellers broker
Holds that the value is created and maintained in proportion to the equilibrium attained in the amount and location of the essential uses of real estate. The degree of value of a property is governed by the balance or appointment of the four factors in production.
a.
Anticipation
b.
Balance
c.
Contribution
d.
Decreasing Returns
Use that result in the highest value for that property.
a.
Highest and best use
b.
Profitable use
c.
Economic use
The period over which a building may be profitably used is its
a.
Actual life
b.
Physical life
c.
Useful life
d.
Effective life
Happens over a long period of time and is defined as a certain trait and how species with this trait can or cannot survive, and how it effects the reproduction of this good or bad trait.
a.
Natural selection
b.
Binomial nomenclature
c.
Natural resource
Rights of the lessee of property.
a.
Leasehold
b.
Lease fee
c.
Lease
Which of the following is valid?
a.
Pacto de retro sale in mortgage contract
b.
Pactum comissorium in mortgage contract
c.
Pactum de non aliendo in mortgage contract
d.
None of the above
Ownership on an undivided thing by different person
a.
Co-ownership
b.
Common ownership
c.
Shared ownership
The acronym ADSDP means Ancestral Domain Sustainable Development Plan.
a.
True
b.
False
c.
Maybe
A deed in which grantor warrant a good clear title to the premises.
a.
Warrant deed
b.
Trust deed
c.
Guaranty deed
Provision of Conditional Cash Transfer to NGP beneficiaries
a.
DSWD
b.
DBM
c.
DOF
Retention limit of a corporation
a.
1,000 hectares
b.
500 hectares
c.
800 hectares
Tract of land divided into lots suitable for home building.
a.
Subdivision
b.
Condominium
c.
Plot
A Real Investment Trust company shall distribute annually at least how much dividends to its shareholders:
a.
90%
b.
40%
c.
50%
d.
75%
A scheme whereby a group of homeowners occupying a contiguous parcel of land.
a.
Neighborhood Ownership
b.
Township
c.
Barangay
Refers to areas containing deposits of metallic and non-metallic minerals
a.
Mineralized areas
b.
Metallic areas
c.
Deposits area
This analysis mainly concerned with the strategy effects on the welfare of the community rather than any smaller group.
a.
Social cost -benefit analysis
b.
Economic analysis
c.
Cost benefit analysis
Refers to an in-design evaluation method for planning areas that retain important natural environmental features.
a.
Land Suitability Analysis
b.
Land applicability
c.
Land retainability
Photo synthesizers such as algae and green plants that produce most of the organic nutrients for the biosphere pioneer species are._______
a.
Photoautotrophs
b.
Heterotrophs
c.
Autotrophs
Considers the income that an asset will generate over its remaining useful life and estimates value through a capitalization process.
a.
Income approach
b.
Market approach
c.
Sales approach
The body of liquid on the surface of the Earth; it is considered a lake when it is not part of an ocean, is inland, and is fed by a river.
a.
Lake
b.
Pond
c.
Sea
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, is normally referred to as
a.
Buyers Market
b.
Suppliers Market
c.
Wet Market
Refers to a potential buyer or costumer
a.
Prospect
b.
Suspect
In the classification of things, there are certain things that are considered to belong to everyone. These things are classified as:
a.
Res Communes
b.
Res Alicujus
c.
Res judicata
d.
Res nulius
Right of possession that returns to the grantor after the expiration of a limited or contingent estate.
a.
Reversion
b.
Escheat
c.
Conversion
Document similar to an EIS, but with reduced details and depth of assessment and discussion.
a.
Initial Environmental Examination (IEE) Report
b.
Initial Environmental Assessment Report
c.
Environmental Assessment Report
A Real Estate Investment Trust, also known as a “REIT is a company whose primary business is owning and managing real estate properties, except:
a.
Socialized and economic housing
b.
Offices and apartment buildings
c.
Warehouses and industrial buildings
d.
Hotels, shopping malls, or golf courses
Refers o a program that will outline areas in the Philippines which are prone to liquefaction and other natural hazards.
a.
National Geo-hazard Mapping Program
b.
Critical mapping
c.
Dangerous mapping
Personal property that will become real estate.
a.
Fixture
b.
Real property
c.
Real estate
Right by virtue of which, when two or more persons are called to the same inheritance, devise or legacy,
a.
Accretion
b.
Common
c.
Sharing
Sources of listing could be through physical and internet search.
a.
True
b.
False
c.
maybe
The one who protect the interest of the principal.
a.
Broker
b.
Appraiser
c.
buyer
Holds that economic, physical, governmental, and social forces are constantly at work and because changes brought about by these forces affect real property, the appraiser view real property and its environment as in transition, observing evidence of trends which may affect the property in the future.
a.
Change
b.
Competition
c.
Conformity
d.
Contribution
This Order shall take effect 15 days after its publication in a newspaper of general circulation.
a.
Effectivity
b.
Transitory provision
c.
Imprinting
Which one correctly explains global warming?
a.
An increased in Earth’s average surface temperature
b.
An increased in the concentration of ozone
c.
A decreased in Earth’s average surface temperature
The undertaking of any development activity which modifies or alters the physical characteristics of agricultural lands to render them suitable for non-agricultural purposes.
a.
Conversion
b.
Classification
c.
Development
As property consultant, you were consulted by a client who wanted to sell a real property to a corporation sole, Roman Catholic Administrator of Cebu, Inc. Your client was concerned because the actual incumbent of the corporation sole was a Canadian Citizen, Msgr. Justin Purdeau. He asked whether the sale would go against the constitutional prohibition against foreigners owning land in the Philippines.
a.
The sale is valid because a corporation sole is not the owner of the properties that he may acquire but merely the administrator thereof so the sale in this case will be valid.
b.
The sale will be void because aliens cannot own real property
c.
The sale will be voidable, subject to ratification if the incumbent becomes a Filipino Citizen
d.
The sale may be valid if the corporation sole proves that at least 60 per centum of the capital, property, or assets is actually owned or controlled by Filipino citizens.
Property goes to the government because of no heir and no will.
a.
Escheat
b.
Eminent domain
c.
Foreclosure
Finds a specified property in exchange for the principal’s property.
a.
Exchanged Agency
b.
Property agency
c.
Finders agency
Cost to create a virtual replica of the existing structure.
a.
Reproduction
b.
Replacement
c.
Recopy
A group of organisms interrelated by the fact that each member of the group feeds upon the one below it
a.
Food chain
b.
Food pyramid
c.
Food web
DA. DAR. DENR are the stakeholders, whose responsibilities includes the following EXCEPT,
a.
Provision of extension service
b.
Nursery establishment and seedling production
c.
Site identification and site preparation
That a buyer will try to pay as little as possible for the property that meets the buyer’s needs.
a.
Substitution
b.
Affordability
c.
Thriftiness
This Order hereby supersedes Department Administrative Order No. 96-37, Department Administrative Order No. 2000-37, DAO 2000-05 and other related orders, which are inconsistent herewith.
a.
Repealing Clause
b.
Separability Clause
c.
Sanctions
A brokerage is a firm that acts as an intermediary between._______
a.
a purchaser and a seller
b.
buyer broker
c.
seller and broker
Property relation of married couple is absolute community of property effectivity.
a.
August 3,1988
b.
September 1,1972
c.
August 8,1988
A broker receive a_____all negotiation.
a.
Commission
b.
Profit
c.
Tip
What is the the basis of the valuation of real property for purpose of capital gains tax?
a.
It shall be based on selling price, zonal value or schedule of values of the provincial or city assessor, whichever is higher
b.
It shall always be based on the selling price indicated by the deed of sale
c.
If the owner is a developer, the value shall be based on the fair market value
d.
It shall be computed based on the excess of the gains from sales or exchanges of capital assets over the losses from such sales or exchanges
Conditions and assumptions under which appraisal is made.
a.
Limiting condition
b.
Limitation
c.
Assumption
John and Murcia were married in 1990. They executed a marriage settlement in 1991 wherein they agreed that their property relation shall be that of complete separation of property. What is the property relationship between John and Murcia in 2015?
a.
Absolute Community Property
b.
Conjugal Partnership of Gains
c.
Complete Separation of Property
d.
Co-ownership
Interim interest and advance one year insurances.
a.
Deductions on final loan releases
b.
Deductions on first loan releases
c.
Deductions on second loan releases
Very open and most transparent method of selling property.
a.
Auction sale
b.
Open sale
c.
Free sale
The process of defining the nature and diversity of buyers needs and wants in a market and further classified in significant terms so that organization can focus its business competencies on the requirements of one or more specific groups of effective demand is referred to as:
a.
Market analysis
b.
Demand analysis
c.
Location and site analysis
d.
Market segmentation
Property regime of couple without being married.
a.
Co-ownership
b.
Single ownership
c.
Shared ownership
The following shall be contained in the Master Deed of a Condominium project, EXCEPT:
a.
Statement of name, addresses and corresponding interests of all the condominium unit owners
b.
Description of the building, stating number of stories and basements, and the number of units
c.
Description of the land on which the building or buildings and improvements are or are to be located
d.
Restriction not contrary to law, morals or public policy regarding the right of any condominium owner to alienate or dispose of his condominium.
Percentage change in quantity demanded greater than percentage change in price.
a.
Elastic demand
b.
Inelastic demand
c.
Unit elastic demand
It is said that for every Pl million invested in housing it is translated to P16.6 million of economic housing activity in the country
a.
True
b.
Maybe
c.
False
Estimate or opinion of value.
a.
Appraisal
b.
Estimating
c.
Valuing
Poor layout is an example of.______
a.
Functional obsolescence
b.
Physical obsolescence
c.
Material obsolescence
Administrator must have a background of development and planning for at least how many years.
a.
5years
b.
Ivyears
c.
15 years
Former natural born Filipino citizen are allowed to acquire urban land for residential purpose for a maximum area of.________
a.
1000 sqm
b.
5000 sqm
c.
1 hectare or 3 hectares
Right to use someone else property for his benefit.
a.
Easement
b.
Lease
c.
Borrow
Refers to a band of dry land and the adjacent ocean space (water and submerged land) in which terrestrial processes and uses directly affect oceanic processes and uses, and vice versA.
a.
Coastal areas
b.
Shorelines
c.
Seaside
NOT ALLOWED for Pag-IBIG Housing Loan
a.
Less than 28 sqm. Lot area
b.
Less than 30 sqm. Lot area
c.
Less than 50 sqm. Lot area
The 1st release of loan is based on lot value or 40% of the approved loan whichever is lower
a.
Incorrect
b.
Correct
c.
Statement a and B
Quantity supplied generally responds positively to price ,so the supply curve is____.
a.
Upward-sloping
b.
Downward-sloping
c.
No slope
Required to be a natural person.
a.
Salesman
b.
Broker
c.
Buyer
Authorized to approved coversion of land less than 5 hectare.
a.
Regional Director
b.
Secretary
c.
President
Refers to the meanings that people attach to various parts of urban areA.
a.
Symbolism
b.
Map
c.
Picture
The important aspects that deals with how an individual’s respond to urban initiatives.
a.
Attractiveness
b.
Responsiveness
c.
Initialibility
It describes the land where possession or occupation is without rental?
a.
Usufruct
b.
Free occupant
c.
Free land
The document required of proponents describing the environmental impact of, and mitigation and enhancement measure for, project or undertakings located in an ECA. Shall replace the Project Description required under DAO 21, series of 1992.
a.
Initial Environmental Examination
b.
Multipartite Monitoring Team
c.
Social Acceptability
Belong the lakes, navigable and floatable rivers.
a.
State
b.
Owner of adjacent land
c.
Government
Which of the statement is not correct?
a.
Not all securities firms are very much in the business of producing information
b.
Finance companies are in the lending business.
c.
Brokers also provide loans to the customers
