Mock Exam 02

Question 1

The rule for adjustment of trapezoidal lot is -

Answer 1

Compute the value of the rectangular and triangular portions separately according to the rules hereof, then get the summation

Question 2

Husband and wife can sell property to each other on the following circumstances, except when -

Answer 2

Spouses have been separated for more than 10 years

Question 3

The following are documentary requirements in securing DAR clearance on the sale of 5-hectares agricultural land, except -

Answer 3

Seller’s affidavit of non-tenancv or tenant’s affidavit of voluntary surrender; buyer’s affidavit that the hectarages sold is the retention area; buyer’s affidavit that the hectarages bought, together with the present agricultural landholdings does not exceed five hectares

Question 4

PTB Realty Development Corporation engaged in the development of land for a memorial park, the corporation shall be referred to under the RESA and defined as a:

Answer 4

Real estate developer

Question 5

At any time within 2 years after settlement and distribution of an estate, any heirs or person that has been unduly deprived of lawful participation in the estate, may compel settlement of estate in court. A ruling that such bond and such real estate shall remain charged with a liability to creditors, heirs, or other persons for the full period of 2 years after such distribution, notwithstanding any transfer of real estate that may have been made, is referred to

Answer 5

Section 4 of Rule 74 of the Rules of Court

Question 6

In order to conform to technological and modem developments, the subject for examination may be re-clustered, modified, added to or excluded as may befound necessary by the -

Answer 6

PRBRES

Question 7

When the donee is a stranger, the donor’s tax rate on the net gifts is-

Answer 7

30%

Question 8

The special education fund tax collected by a city shall be allocated to the -

Answer 8

Local School Boards

Question 9

A law that allowed illegitimate children to use the surname of their father per Family Code. The legitime of each illegitimate child shall consist of M of the legitime of a legitimate chilD.

Answer 9

Amendment RA 9255. Art 176. EO 209

Question 10

A special levy may be imposed for lands, specially benefited by public work projects or improvements funded by the local government unit, provided the special levy shall not exceed -

Answer 10

60% of the actual cost of such projects

Question 11

The law which provides that all agricultural lands that are already classified as commercial, industrial or residential before June 15. 1988 no longer needs any conversion clearance even if still utilized for agricultural activity

Answer 11

Republic Act#6657

Question 12

The_____of the official seal of the PRBRES signifies ethical standards and prosperity.

Answer 12

GOLD

Question 13

Easement is to real property, usufruct is to_____.

Answer 13

Personal or real property

Question 14

Under RA8974. in case of disagreement on just compensation, the expropriating government agency is required to deposit/consign an initial amount equivalent to -

Answer 14

100% of the Zonal value

Question 15

Refers to the acquisition of lands adjoining the river bank due to gradual deposits of soil.

Answer 15

Alluvion

Question 16

What is the maximum land ownership that can be acquired by a former natural bom Filipino citizen

Answer 16

For residential purpose: LOOP sqm of urban land or 1 has, of rural land: For business purpose: 5,000 sqm of urban land or 3 has, of rural land

Question 17

An owner is obliged to utilize the land not only for himself but also for thegeneral welfare, is referred to as the principle of-

Answer 17

Steward Concept of Ownership

Question 18

The principles of the Code of Ethics and Responsibilities for the Real Estate Service Practitioners (RESPs) clearly states the Golden Rule which says:

Answer 18

“Treat others as you like them to treat you”

Question 19

How much is the 5% Broker’s Fee net of 10% creditable withholding tax if the property listed was sold at P3.5M inclusive of VAT?

Answer 19

P140,625

Question 20

A RE Broker has secured a written offer to purchase a commercial property at a price of P70.0M together with a check payment equivalent to the 30% as down payment. He is certain that the Seller will accept the offer. Before he presented the offer to the Seller, he receives an unverified information that a government infrastructure project will take a significant portion of the property. Several steps has to be taken by the RE Broker to save the sale and protect the interest of all parties concerneD. Which of the following is inappropriate at the moment?

Answer 20

Secure the detailed information from the proper government agencies as to actual scope of the project

Question 21

When a licensed RE Broker accepts a listing from a colleague, he/sheshould follow three conditions mentioned in the Code of Ethics, which one of the following is not a condition to be followed?

Answer 21

The agency of the listing RE Broker should be respected perpetually in all dealings with his/her clientprincipal

Question 22

The following sales are exempted from VAT, except-

Answer 22

Sale of condo unit classified as capital asset

Question 23

Under the Code of Ethics, mostly, written agreement prevails over -

Answer 23

Verbal agreement

Question 24

These assets could be tangible or intangible.

Answer 24

Non-current assets

Question 25

If the applicant for conversion of an agricultural land is a beneficiary of the agrarian reform program, what special documentary requirements is required?

Answer 25

Certification from the Mayor that beneficiary had paid his taxes

Question 26

Private corporations cannot acquire lands of public lands, but may only lease alienable lands for a period of not exceeding_____; renewable for another________and with an area not exceeding_____.

Answer 26

25 years; 25 years; 1,000 hectares

Question 27

Prior to RA#9646. the law that governed the real estate service practice is -

Answer 27

MTI Ministry Order No, 39. Series of 1985

Question 28

Section 31 of RA#9646 provides that “No violation shall be caused for revocation of Real Estate Broker’s license unless there was ____ of such violation or the REB retains the benefits, profits or proceeds of a transaction wrongfully negotiated by the Real Estate Salesperson.

Answer 28

Actual knowledge

Question 29

President Pinoy Aquino has declared the “Philippine Professionals Competitiveness Week” every year during the -

Answer 29

3rd week of October

Question 30

Beneficiary of land may not sell, transfer, convey through hereditary succession said land for a period of:

Answer 30

10 YEARS

Question 31

A law requiring an oath of a natural bom citizen of the Philippines who lost his/her citizenship by reason of naturalization as citizen of other country which deemed to have reacquired Philippine citizenship

Answer 31

RA#9225 Citizen Retention and Re-acauisition Act of 2003

Question 32

Registration on sale of five (5) hectare agricultural land should be accompanied by

Answer 32

PAR Clearance

Question 33

Is a concept of ownership which refers to the right of an owner to conserve and utilize it for the State/people?

Answer 33

steward

Question 34

All legal rights such as riparian rights or easements, that “goes with the land”, when title to the lands is transferred are known as-

Answer 34

Appurtenances

Question 35

No action for the collection of the real property tax. whether administrative or juridical shall be instituted after the expiration of -

Answer 35

5 years

Question 36

Under System of Absolute Community the following are excluded, except-

Answer 36

Properties earned from employment of spouses

Question 37

Cases where conversion of agricultural land cannot be allowed except:

Answer 37

Agricultural lands with destroyed irrigation facilities and scarce availability of water.

Question 38

Land is unique because -

Answer 38

No two parcels can occupy the same space on the face of the earth

Question 39

Refer to the acquisition of more lands adjoining the river banks due to gradual deposit of soil.

Answer 39

Alluvion

Question 40

A provision of the Family Code that stipulates that the rights of parents over the fruits and income of the child’s property shall be limited primarily to the child’s support and secondarily, to the collective needs of the family -

Answer 40

Art 226 of the Family Code