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Professional Practice > Mock Exam 04 > Flashcards

Mock Exam 04 Flashcards

Professional Practice

1
Q

A case in which there are plenty of properties for sale with few buyers.

A

Buyer’s Market

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2
Q

The owner wants net proceeds of P1.750M exclusive of capital gains tax. documentary stamp tax and 5% broker’s fee. How much would be the selling price so that the RE Broker can maintain the 5% fee?

A

P2.000.000

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3
Q

Refers to the total value of all final goods and services produced within the territories of a Country in a year -

A

Domestic product

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4
Q

Under HDMF Circular No. 247. in order to refinance an existing loan, a borrower’s account must have at least ___years of repayment history and latest year must not reflect default.

A

2 years

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5
Q

Which principle of value best affirms that the maximum value of a property generally cannot exceed the cost of its replacement?

A

Substitution

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6
Q

A person who is paid a referral fee for locating and promoting business opportunities for others -

A

Bird Dog

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7
Q

Refers to the LGC provision mandating LGUs to continue to prepare their respective comprehensive land use plans enacted through zoning ordinances.

A

Section 20. RA#7160

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8
Q

A description of Philippines as a tropical climate country falls for a theme -

A

Place

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9
Q

Are the autotrophic components of the plankton community

A

Phytoplankton

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10
Q

Larger units of organization that categorize regions of the earth’s ecosystems mainly according to the structure and composition of vegetation.

A

Biomes

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11
Q

Your client has agreed to be a mortgagee of a big property that straddles two cities. You have to inform him that the mortgage has to be registered in -

A

Both cities

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12
Q

Zoning regulates residential, commercial and industrial zones, off-street, parking requirements, set-back on front, side, above and rear, building heights and area, except-

A

Side, above and rear

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13
Q

In the computation of simple interest where: I = Prt. r means

A

Rate of interest

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14
Q

Capital gains tax is payable within thirty from what date?

A

Notarization of deed of sale

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15
Q

It embraces the art of open space design, building design and road and pathways design:

A

Site planning

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16
Q

It is the largest lake in Mindanao and the 2ndlargest lake in the country.

A

Lake Buluan

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17
Q

If comparative approach is to substitution; income approach is to -

A

Reproduction

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18
Q

It refers to a grid north and south (meridians), and east and west (parallels) lines surveyed by the government in identifying Philippine boundaries.

A

Cardinal Directions

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19
Q

he seller realized a 30% gross profit over his cost, if the property was sold at P2.95M. the cost is -

A

P2.692.308

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20
Q

The following are part of the process of the component agencies of the SHOPC within the 90-day period as prescribed by RA#7279. except -

A

Approval by the DENR Secretary - for Environmental compliance

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21
Q

Refers to the location of a place using lines of latitude and longitude is -

A

Absolute Location

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22
Q

To estimate market value, an appraiser follows the -

A

Valuation process

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23
Q

The Philippine archipelago has 7.107 islands and has a total claim area of an exclusive economic zone of (EEZ) 200 nautical miles from its shores. In km area the equivalent is -

A

370 kms

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24
Q

In real estate, what are the laws of price variations?

A

Law on normality of prices. Law on increase of prices and Law on falling of prices

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25
Q

Which of the following is not an element of appraisal or valuation?

A

Inspection & Identification of Property

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26
Q

Withholding tax rate of a socialized housing project registered with HLURB amounting to P600.000 is -

A

0%

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27
Q

Situation when there are plenty of buyers and lesser sellers.

A

Seller’s Market

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28
Q

This is a concept that entails the showing of the property and pointing out its physical qualities and other advantages and benefits to attract the interest of a prospective client to own the property?

A

Demonstration

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29
Q

The approach to value, physical deterioration is estimated by the formula- Effective age divided by economic life-

A

Cost approach value

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30
Q

A term that refers to reservation or right to buy which is separate from purchase price:

A

Option

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31
Q

Which of the following is not an economic characteristic of real estate -

A

Transferability

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32
Q

Which of the following statements applies to a property with a nonconforming use?

A

a conforming use property may be under improved but cannot be over improve

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33
Q

A structure either freestanding or part of another building containing niches for the inurnment of cremated human remains -

A

Columbarium

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34
Q

In Pag-ibig financing program, a borrower who is behind payment, when payment is made shall be applied according to the following order of priority:

A

Penalties, upgrading membership contribution, insurance premiums, interest & principal

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35
Q

Represents the ownership interest of a lessor owning real estate, leased to others -

A

Lease Fee Estate

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36
Q

It is a public document adopted by the LGU as guide to the physical & socio economic development of their community.

A

Town Plan

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37
Q

The following factors create value for real property, except -

A

Supply

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38
Q

The_____upon recommendation of NEDA may authorize a city/municipality to reclassify lands in excess of set limits.

A

President

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39
Q

This principle refers to an over-improvement or under improvement that reflects lack of conformity as between one property and its environment.

A

Conformity

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40
Q

Refers to the ratio that expresses the relation between gross income and sales price of a property -

A

Gross Income Multiplier

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41
Q

Refer to the proponent’s technical staff or a competent professional group commissioned by the proponent to prepare the EIS/IEE and other related documents.

A

Preparer

42
Q

The acquisition of title by a private party against the consent of the former owners, such as foreclosure sale or tax sale, is what mode of acquiring title?

A

Involuntary grant

43
Q

These refer to the changes that result when wealthier people acquire or rent property in low income and working class communities.

A

Gentrification

44
Q

Which of the following does not belong to Environmental Critical projects?

A

Football field

45
Q

Refers to the capacity to satisfy wants, production by labor and their exchangeability -

A

Economic Value

46
Q

It is a modified system under the UHLP whereby housing loans may be extended through other conduits like banks

A

Multi-window Lending Program

47
Q

In the cost approach to value, physical deterioration is estimated by the formulA.

A

Effective age divided by economic life

48
Q

When is the adoption of IVS vis-a-vis the PVS per Dept, of Finance Order No. 37-09?

A

October 19, 2009

49
Q

Ecology could be synonymous to -

A

Natural environment

50
Q

In subdivision marketing. the sale is considered a paid -up sale when the buyer paid the -

A

Required down payment

51
Q

It is a principle wherein the value of a replacement property is acceptable if it will cost the buyer lesser.

A

Principle of substitution

52
Q

The following are determinants of value, except -

A

Price

53
Q

The following are not considered zones/districts: light industrial, medium industrial, high industrial, general industrial and__.

A

General electric

54
Q

Income and other benefits available from real estate may be increased by adding capital improvements only up to the point of balance in the agents of production, beyond which the increase in value tends to be -

A

Less than the increase in cost

55
Q

The rate of return earned by an investor which does not include allowance for capital recovery is -

A

Interest rate

56
Q

“The Philippines is the only Asian Catholic country”, it is a description which categorize Philippines as a -

A

Region

57
Q

The following are purposes of loan allowable under the UHLP. except:

A

purchase of a lot and construction of a new house or dwelling unit

58
Q

The technical description in the TCT of real property can be readily plotted on a sheet of paper by using the following data -

A

Bearing and distances from lot points

59
Q

The following are the Philippine constitutional framework, except -

A

1992 Constitution

60
Q

Riparian ownership refers to right of landowner to water___its property.

A

Under or adjacent

61
Q

Many of our mountains are densely foresteD. In northern Luzon the principal mountain tree is -

A

Pine

62
Q

It is one which is politically attached to a larger piece but not actually contiguous with it-

A

Enclave

63
Q

The fundamental valuation principle underlying the sales comparison process is -

A

Substitution

64
Q

The following are Environmentally Critical Projects (ECPs ). except:

A

logging

65
Q

Capacity to pay shall be limited to an amount for which the monthly income shall not exceed__of the member’s net disposable income (NDI)

A

40%

66
Q

The most important economic characteristics of real estate which is often called as Situs -

A

Area Preference

67
Q

The revenue derived from the use of land, building and the factors thereto -

A

Economic rent

68
Q

The selling price of a real estate is usually based on its -

A

Exchange value

69
Q

This principle may be said to be the principle of increasing and decreasing returns as it applies to some portion of improvements.

A

Conformity

70
Q

When the loan is fully amortized by equal monthly payments, the amount applied to the principal -

A

Increases while interest payment decreases

71
Q

A notice of adverse claim annotated on the title can be cancelled after the expiration of 30 days after its annotation by:

A

Verified petition with the court

72
Q

Government agencies mandated to regulate environment -

A

DENR; HLURB; LGU

73
Q

four elements of investments are -

A

Yield. Safety. Leverage and Control

74
Q

Which does not belong-high level of carbon dioxide, poisoned water, specks of salt. smog, waste oil. chemical wastes and industrial wastes are a danger to the health and life of the worlD.

A

Salt specks

75
Q

The professional fee is paid to the REBroker upon -

A

Perfection of the Contract

76
Q

Mr. Philip Jayson, an accredited RE Broker with PTB Development Corp, enjoyed a professional fee at 5%. He sold a house and lot for P10.0M with 30% full down payment, which entities the buyer a 10% discount on the actual amount paiD. The buyer requested that his discount be applied to the down payment. The balance of the sale is payable in 5-years through an in-house financing scheme at 18% interest rate. How much is the net down payment to be paid by the buyer?

A

P2.70M

77
Q

Ecosystem that are found only land.

A

Terrestrial ecosystem

78
Q

Under the Pag-ibig Housing Loan guidelines, the amortization of a loan project should not exceed forty percent(40%) of -

A

Net Disposable Income

79
Q

In____zoning, only a single detached property is allowed -

A

Impact

80
Q

The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently, knowledgeably, and assuming the price is not affected by undue stimulus.

A

Market Value

81
Q

The following are considered zones areas: park & recreation, water, tourism zones and _

A

Pent house

82
Q

Refers to the fund program of Pag-Ibig is -

A

Abot Kamav Pabahav Fund Program

83
Q

It is the compensation paid for the use of the capital -

A

Interest

84
Q

For a Pag-ibig member to avail the maximum loan ofP6.0M. his/her monthly contribution should be:

A

P 2,950.00

85
Q

The principle of anticipation-

A

Is future oriented

86
Q

Psd means :

A

Private subdivision of titled properties

87
Q

In appraisal of income generating property and based on the principle of anticipation, the Appraiser uses this approach -

A

Market data Approach

88
Q

Refers to approach to determine value of a property by comparing with other properties that were recently solD.

A

Data approach

89
Q

GPL Corporation purchased a 5-storey building 10 years ago at P5.0M. The building was depreciated on a straight line method with an estimated life of 50 years. It was estimated that the reproduction cost of the new building is P15.0M and used the depreciation rate adopted by the company in estimating the accrued depreciation for 10 years. What is the fair market value of the building?

A

P12.0M

90
Q

The four (4) property types for appraisal or valuation are the following -

A

Real Property. Personal Property. Businesses. Financial Interests

91
Q

It is a proposal which forms part of comprehensive development plan.

A

Land use plan

92
Q

Under the Pag-ibig Housing Loan Program for middle income and overseas members, the maximum loanable amount that a member could avail is -

A

P3.0M

93
Q

The highest amount in terms of money that a property should bring given a reasonable time of exposure in the open and competitive market -

A

Market Value

94
Q

Mr. Patemo Dionisio bought a parcel of land paying a monthly amortization of P150.500. The amortization factor for 5 years at 21% interest is 0.02705. he paid a down-payment of 30% of the contract price, compute the principal obligation on which the monthly obligations is based?

A

P5.545.287

95
Q

The principle of value which states that the value of a property tends to be enhanced when there is reasonable homogeneity in use -

A

Principle of conformity

96
Q

Refers to the profit generated from the investment -

A

Return on Capital

97
Q

Minimum lot area of__to avail of housing loan -

A

32 sqm

98
Q

The economic concepts of Utility and Substitution drive this analysis

A

Highest and best use

99
Q

The rate of return by an investor which does not include allowance for capital recovery is -

A

Interest rate

100
Q

This is the cost of duplicating the improvement at current price, using the same materials, construction standard, lay-out and quality of workmanship. It is estimated by one of the following methods: Unit-in-Place MethoD. This is a mathematical compression of the quantity survey methods and is based on the use of installed prices for the various building parts, using units convenient to employ such as square meters-

A

Reproduction cost

101
Q

After a Deed of Absolute Sale was made, signed, and notarized when should the documentary stamp tax on sale of real property be paid?

A

Within 5 days after close of the month

Professional Practice (5 decks)

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