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Fundamentals & General Knowledge Flashcards

Real Estate Broker Board Examination

1
Q

It is a mode of acquiring ownership by transferring ownership over a thing certain to another the primary consideration being love and affection, during one’s lifetime

A

Donation

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2
Q

What is the republic act of the Code of Ethical Standards for public officials and employees?

A

RA 6713

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2
Q

Land which does not have access to a public road which is given a right of way through an adjoining land

A

Dominant Estate

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3
Q

Spouses who were married after the effectivity of the Family Code without any pre-nuptial agreement shall be governed by: *

A

Absolute community of property

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4
Q

It is a contract by which the fruits of real property is used to secure an obligation

A

Antichresis

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5
Q

What is the property regime for people who live together without the benefit of marriage?

A

Co-ownership

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6
Q

It is a stipulation in a listing agreement, which entitles a broker to a commission even when he closed the sale after the period of the authority, provided that the buyer was registered by him with the seller and with whom he has negotiated during the period of his authority.

A

Hold-Over Clause

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7
Q

It is a mode of acquiring ownership by occupying the property in open, continuous, exclusive and notorious manner in the concept of the owner

A

Prescription

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8
Q

Professional Real Estate Service Practitioners shall provide services to clients with______________, promptly, thoughtfully, in a manner with considerate of the interests of clients and fully in compliance with all applicable legal and regulatory requirements.

A

Diligence and Due Care

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9
Q

The following are tricks employed by unethical real estate brokers when bringing clients to view their listings. Which one is not unethical?

A

Employing a cleaning company to freshen the smell of the house interiors

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10
Q

How would you best describe a professional real estate service practitioner’s responsibility to one’s client?

A

Practicing the National Code of Ethics and Standards

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11
Q

A good real estate practitioner is expected to

A

Establish a prestigious relationship with clients

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12
Q

Novice real estate brokers have limitations and should refrain from accepting some listings. Which of these limitations is not a bar to accepting such listings?

A

The broker does not have a data base of regular clients

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13
Q

You are representing Seller Sharon and you bring Buyer Ruffa, to see the house. Ruffa makes an offer. Ruffa has confidentially told you about the bankruptcy she went through two years ago, but she thinks she will financially approved to buy the house. What should you do with the information about the bankruptcy?

A

Tell Seller Sharon

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14
Q

Under the Code of Ethics, the following are considered ethical, except:

A

Use the services of the salesperson of another broker provided the salesperson 5 is paid the agreed commission

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15
Q

The Real Estate Service Act is a consolidation of Senate Bill No. 2963 and House Bill No. 3514 and was finally passed by the Senate and the House of the representatives on:

A

May 12, 2009

16
Q

Any of these acts shall be ground for revocation of license, except:

A

Non-payment of dues

17
Q

The PRBRES in cooperation with the CHED or the concerned Colleges and Universities will undertake the evaluation of the following in the offering of the course of BSREM, except:

A

Screening in the Recruitment of faculty members

18
Q

Under the provision of RESA, a violation of any unlicensed real estate service practitioner shall be as follows:

A

Penalty of Php 200,000 or four years imprisonment or both upon the discretion of the court

19
Q

Who is qualified Chairman of the Continuing Professional Development Council?

A

PRBRES Board Member

20
Q

The Continuing Professional Education Council shall be composed of the Chairman and how many members?

A

Two Members

21
Q

The word “Commission” in RA 9646 stands for?

A

PRC

22
Q

Licensed real estate service practitioners as defined in the RA 9646 are the following, except:

A

Licensed Real Estate Developer

23
Q

“Cuius est solum, eius est ad caelum et ad inferos” means:

A

“To whoever owns the land, shall belong the earth to its center and up to the heavens

24
Q

Under the Maceda Law, when a contract to sell is rescinded, what percentage of the cash surrender value should be returned to the buyer in case he has been paying his amortizations for the past 10 years?

A

75%

25
Q

Broker Romy have just closed the sale of a 700 sq.m, commercial lot in Pasig. The selling price agreed upon is Php 35,000 per sq.m. The seller has agreed to pay all the expenses, to prepare several checks. What amounts should he indicate for the capital gains tax? The zonal valuation of the lot is Php 37,000 per sq.m.

A

Php 1,554,000

26
Q

Based on the local government code, how often shall real property is revised?

A

Every three (3) years

27
Q

The Special education Fund Tax is an annual levy on real estate equivalent to 1% of assessed value which shal be in addition to the:

A

Basic Real Estate Tax

28
Q

When a donee of a parcel of land is a stranger, the donor’s tax rate is:

A

6%

29
Q

What is the tax payable to the local government unit for sale, transfer or other disposition of real estate, whether the real estate is capital or ordinary asset?

A

Transfer Tax

30
Q

The Creditable Withholding Tax in the sale of an acquired foreclosed asset of a bank in the amount of Php85O,000.00 is:

A

3%

31
Q

What is the maximum area that can be granted to any one beneficiary of CARPER?

A

3 hectares

32
Q

If a person died leaving a will, what is the special court proceedings 1/1 that must be instituted to determine the validity of the testamentary disposition of the deceased?

A

Probate Proceedings

33
Q

The rate of real estate tax in municipalities within the Metro Manila is not more than:

A

Two percent of assessed value.

34
Q

The percentage applied to the market value to determine the taxable or assessed value of the property

A

Assessment level

35
Q

What percentage requirement for a Real Estate Investment Trust to sell its outstanding capital in three years?

A

67%

36
Q

The schedule of Zonal Valuation used in the computation of the capital gains tax is prepared by:

A

The Bureau of Internal Revenue

Pre-Board Exam (3 decks)

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