Board Exam Simulation Set B - HD General /Fundamentals (100 Pts) Flashcards
The amount of family home equivalent to fair market value considered as allowable deduction from the estate of a decedent:
a.
P500,000.00
b.
P2,000,000.00
c.
P1,000,000.00
d.
P750,000.00
The process of valuing a group of properties as of a given date using standard methodology, employing common data, and allowing for statistical testing.
a.
Mass Appraisal
b.
Model Calibration
c.
Income Approach
d.
Cost Approach
The maximum period that an foreign corporate investors may lease real estate including renewal is:
a.
25 years
b.
50 years
c.
75 years
d.
99 years
Single buyer, multiple sellers
a.
Perfect Market
b.
Imperfect Market
c.
Monopoly
d.
Monopsony
It is one which is politically attached to a larger piece but not actually contiguous with it.
a.
Enclave
b.
Exclave
c.
Extraterritoriality
d.
Quadripoint
The documentary stamps for the Donor’s Tax shall be paid on:
a.
After 30 days from notarization of Deed
b.
Within 30 days from notarization of the Deed
c.
Within 30 days from date of execution of the Deed
d.
Donation is not subject to DST
Refers to law on acquisition by a natural born Filipino citizen on residential property
a.
RA6732
b.
RA6552
c.
RA9653
d.
BP185
Local Government Code of 1991
a.
RA8424
b.
RA7279
c.
RA9653
d.
RA7160
Spouses who were married after the effectivity of the Family Code (August 3, 1988) without any pre-nuptial agreement shall be governed by:
a.
Conjugal partnership of gains
b.
Absolute separation of property
c.
Absolute community of property
d.
None of the above
Single seller, multiple buyers
a.
Perfect Market
b.
Imperfect Market
c.
Monopoly
d.
Monopsony
The minimum setback for side yard for both economic and socialized housing should be _____meters from building line.
a.
1.0
b.
1.2
c.
1.5
d.
2
What are the two classifications of properties as to ownership under the Civil Code?
a.
Public domain and private ownership
b.
movable or personal
c.
immovable or real property
d.
within the commerce of man and outside the commerce
The Philippine Sea to the east, the Celebes Sea to the south, and the South China Sea to the west and north bound Philippine archipelago. This type of location description is
a.
Relative location
b.
Absolute location
c.
Exact location
d.
Reference location
The schedule of market value for ad valorem tax in municipalities outside Metro Manila is prepared by
a.
Municipal Assessor
b.
Sangguniang Panglalawigan
c.
Provincial Assessor
d.
Provincial Treasurer
Refers to law on acquisition by a natural born Filipino citizen on Property for business purpose
a.
RA6732
b.
RA8179
c.
RA9653
d.
RA9700
e.
BP185
Under Rule 2 Section 11, Annual Report – At the close of each calendar year an Annual Report stating the detailed account of its proceeding and accomplishments and the recommendations to be adopted to upgrade the conditions affecting real estate service practice shall be submitted by the Board to the:
a.
Office of the President of the Republic of the Philippines
b.
Office of the Commissioner of the Professional Regulation Commission
c.
Office of the Department of Finance
d.
Office of the Department of Budget and Management
Registration of mortgage covering projects can only be affected when the deed is accompanied by a permit to mortgage issued by:
a.
Housing and Urban Development Coordinating Council
b.
Home Insurance Guarantee Corporation
c.
Department of Human Settlements and Urban Development
d.
National Housing Authority
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
Real estate refers to the following
a.
Land and improvements whether natural or man made
b.
Land, improvements, rights, benefits, interest
c.
Land and buildings and inherent rights of ownership
d.
Trees, fence, road, drainage system
It is the fair market value of the land in a specific zone or area as established by the BIR:
a.
Market Value
b.
Fair Market Value
c.
Sound Value
d.
Zonal Value
A land survey always uses a reference point which could be
a.
Bureau of Lands Location Monument
b.
City Boundary Monument
c.
Municipal Location Monument
d.
Provincial Boundary Monument
e.
Any of the above
Based on government studies the following were problems encountered by the Land Sector, excluding one:
a.
Unlimited access to land records due to a number of factors, including inefficient and incomplete land record systems and the lack of a good spatial framework; Transparency in land record systems and poor public access to records, leading to a proliferation of fake and spurious titles.
b.
Institutional and policy arrangements that is ambiguous, unclear and ineffective. A rigid and unresponsive land classification system that affects the legitimacy of existing land use and constraints the development potential of land resources.
c.
A land conversion policy and procedures that cannot respond to the growing demand for urban development and protect forest and protected areas; The inability to meet the demand to supply land for housing, commerce and industry is forcing people into informal arrangements.
d.
An inequitable property taxation system due to a number of factors including SMV’s that do not reflect market values; an incomplete tax roll; and poor tax collection efficiency.
A principle in appraisal, which refers to the agents in production are labor, coordination, capital and land. Land has the last claim on the surplus productivity of the agents in production.
a.
Progression
b.
Regression
c.
Balance
d.
Highest and Best Use
Refers to land, improvements, and all rights and interests attached to land;
a.
Real estate
b.
Real property
c.
Property
d.
Personal Property