ODPELS Real Estate Reviewer - Test 1 Flashcards by Jane & Leo Censon

Tenancy in severalty refers to a

a. Ownership by a married couple
b. Ownership of one person
c. Ownership by blood relationship
d. Ownership by unrelated people

b. Ownership of one person

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Eminent domain is

a. The right of the government to take private property for public use.
b. The power of the government to take private property for future use
c. The ancient form of ownership is not common today
d. The right of the people to take government property for housing

a. The right of the government to take private property for public use.

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Real Estate is defined as

a. Land and building
b. Land and all permanent attachments to it.
c. Land and everything growing on it.
d. Land only

b. Land and all permanent attachments to it.

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Real Property is defined as

a. Real estate owned by someone
b. Land and all the improvements
c. Land plus title
d. Real estate and the bundle of rights.

d. Real estate and the bundle of rights.

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Which of the following is not realty

a. Fee simple estate
b. Leasehold for indefinite duration
c. Lumber
d. Life estate

c. Lumber

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An easement in gross

a. Covers an entire property and all parts of it
b. Extends to one person only
c. Extends to the general public.
d. Occurs when the public has used private land.

b. Extends to one person only

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If the government takes private property it must

a. Make just compensation
b. Require the property for public use
c. Both A and B
d. Neither A nor B

c. Both A and B

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An item of personality that is affixed to realty so as to be used as a part of it is

a. Trade Fixture.
b. Chattel
c. Personal property
d. Fixture

d. Fixture

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The right of the state to take title to real estate for which no legal owner can be found is called

a. Police power
b. Tenancy
c. Eminent domain
d. Escheat

d. Escheat

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Which of the following has the right of survivorship?

a. JOINT TENANT
b. Tenancy in severalty
c. Tenancy in common
d. Life tenant

a. JOINT TENANT

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Escheat is a

a. The right to cross someone else’s
b. land to get to the road
c. A variety of fraud exclusive to real-estate
d. The right to inherit if there is no will
e. None of the above

e. None of the above

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The largest “bundle of rights” to real estate is a ______

a. estate.
b. Leasehold
c. Fee simple
d. Life
e. Homestead

c. Fee simple

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Which of the following is an “improvement‟ to land?

a. REZONING
b. DRIVEWAY
c. ORCHARD
d. ALL OF THE ABOVE

d. ALL OF THE ABOVE

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Which one of the following is NOT a test of a fixture

a. MANNER OF ATTACHMENT
b. INTENT OF THE PERSON WHO PUT IT
c. TIME OF ATTACHMENT
d. CUSTOMS IN THE COMMUNITY

c. TIME OF ATTACHMENT

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As long as the life tenant is alive, the remainderman has

a. An easement in gross
b. REVERSIONARY INTEREST
c. Fee simple estate
d. Renewing leasehold estate

b. REVERSIONARY INTEREST

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Which of the following is a non-freehold estate?

a. FEE SIMPLE ESTATE
b. LEASEHOLD ESTATE
c. LIFE ESTATE.
d. QUALIFIED FEE SIMPLE

b. LEASEHOLD ESTATE

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A person who owns an undivided interest in real estate with at least one other person without the right of survivorship is called

a. Tenant in severalty
b. Life tenant
c. TENANT IN COMMON
d. Joint tenant

c. TENANT IN COMMON

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Which of the following is a realty

a. 1 YEAR LEASE
b. AN EQUITABLE TITTLE
c. A LAND CONTRACT
d. A LIFE ESTATE

d. A LIFE ESTATE

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A broker must keep all earnest money deposits in

a. Her office safe
b. Her business checking account
c. An escrow or trust account
d. A savings account for her business

c. An escrow or trust account

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What is the golden rule?

a. TREAT OTHERS AS YOU WANT OTHERS TO TREAT YOU
b. Do unto others what you do not want others to do unto you
c. Do not do unto others what you want others to do unto you.
d. Treat others as you want them to be treated

a. TREAT OTHERS AS YOU WANT OTHERS TO TREAT YOU

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A broker‟s license is suspended for six (6)months. The broker‟s salespersons

a. Also lose their licenses for 6 months.
b. May continue to operate the broker’s business
c. May upon proper application, transfer their licenses to another broker

c. May upon proper application, transfer their licenses to another broker

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The Real Estate service of the Phils governs the following service practitioners, EXCEPT

a. Broker
b. Appraiser
c. Assessor
d. Consultant
e. Dealer

e. Dealer

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Under the RESA, there must be one broker for every.

a. 100
b. 20
c. 50
d. 252

b. 20

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There is created a professional regulatory board of real estate service, hereinafter referred to as the Board under the
supervision and administrative control of the

a. DTI
b. DOLE
c. DOF
d. DOJ

b. DOLE

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25. Any violation of RA 9646 of the IRRR committed by a licensed real estate appraiser, shall be meted out the penalty of a fine of no lower than a. 100,000 b. 200,000 c. 10,000 d. 20,000

a. 100,000

26. The real estate service practitioner shall be required to indicate on the documents he/she signs, uses, or issues connections with the practice of his or her professional the following, except a. License number b. PTR c. APO d. CTC

d. CTC - Community Tax Certificate

27. In the licensure examination for the applicants for real estate brokers a subject for examination common to all real estate service practice is. a. Human and physical geography b. GIS c. Real estate finance and economics d. Brokerage Practice

c. Real estate finance and economics

28. Upon application and payment of the required fees for the approval of the commission the board may issue a special /temporary permit to a real-estate service a practitioner from a foreign country, whose services are urgently needed in the absence or unavailability of local real estate service practitioners provided that a. There is reciprocity between his country and the Philippines b. There is a need for a developer for foreign practitioners c. The foreigner is more expert d. NOTA

a. There is reciprocity between his country and the Philippines

29. The real estate broker shall in addition to the oath referred to in the preceding section be required to post professional indemnity insurance or cash or surety bond in an amount to be determined by the board which in no case shall less than a. 10 thousand b. 20 thousand c. 40 thousand d. 15 thousand

b. 20 thousand

30. Within ____________ days from the effectivity of R.A. #9646, the DTI-BTRCP shall transfer all pertinent records, documents, and other materials to PRBRES a. 30 days b. 45 days c. 60 days d. 90 days

d. 90 days

31. The ______________ of the commission shall act as prosecutors against illegal practitioners and other violators of R.A.# 9646 and its IRR a. Chairperson b. Lawyers c. Secretary of PRBRES d. Members

b. Lawyers

32. The CPE Council Chairperson should come from the ______________ a. PRBRES Board b. AIPO c. Academe d. Realty Service Organization

a. PRBRES Board

33. No partnership or corporation shall engage in the business of real estate service unless it is duly registered with the ______________ a. PRC b. SEC c. PSE d. Realty Service Council

b. SEC

34. Under RA 9646 Section 20. Registration Without Examination, if someone passed the 2007 Licensure exam of the then DTI and have failed to get a license, how many CPE credits units are needed to earn for him/her to register with PRC a. 15 credit unit b. 18 credit unit c. 24 credit units d. 120 credit units

b. 18 credit unit

35. How many CPE credit units are required for registered and licensed professionals with baccalaureate degrees like Real Estate Service Practitioners for renewal of their license for the next three years a. 24 Credit Unit b. 30 Credit Units c. 60 Credit Units d. 45 Credit Units (15 units New)

d. 45 Credit Units (15 units New)

36. Within _______________ years from the effectivity of the Act, all existing and new positions in the national and local governments shall be filled only by registered and licensed real estate service practitioners. a. one (1) year b. two (2) year c. three (3) years d. five (5) years

c. three (3) years

37. During what congress was the Republic Act 9646 enacted into law a. 13th Congress b. 14th Congress c. 15th Congress d. 16th congress

b. 14th Congress

38. The policies resolutions and rules and regulations issued by the PRBRES shall be subject to the review & approval by the a. Secretary of Professional Regulatory Board b. Professional Regulations Commission c. Office of the President d. Bureau of Local Government Finance

b. Professional Regulations Commission

39. The CHAIRPERSON of PRC a. Ernest Carpio b. Teresita Manzala c. Sultan Yusuf Ali Carpio al Hajj d. None of the above

d. None of the above

40. The 4 yr. course required for real estate service practitioners is ________________ a. BS REM b. BS BAC c. Associate in RES d. BS Property Managemen

a. BS REM

41. All CPE sessions shall be conducted by PRC-accredited ______________ providers a. AIPO b. Academic c. CPE d. Review

c. CPE

42. The Senate President who signed R.A.#9646 is a. Manuel Villar Jr. b. Franklin Drilon c. Aquilino Pimentel Jr. d. JUAN PONCE ENRILE

d. JUAN PONCE ENRILE

43. The speaker of the house who signed R.A.#9646 is a. Jose de Venecia Jr. b. PROSPERO NOGRALES c. Joseph Carpio d. Feliciano Belmonte Jr.

b. PROSPERO NOGRALES

44. The color of the PRBRES Official Seal represents ethical standards and prosperity. a. Blue b. White c. GOLD d. Silver

c. GOLD

45. Which of the following is (are) ALWAYS exempt from real property taxes? a. Income-producing property owned by church b. GOVERNMENT-OWNED PROPERTY c. Private, for-profit school d. Property owned by a private person but rented to a foundation

b. GOVERNMENT-OWNED PROPERTY

46. An ad valorem tax is based on a. Size and or weight of article taxed b. VALUE OF ARTICLE TAXED c. Taxpayer’s income d. Sale price of article taxed

b. VALUE OF ARTICLE TAXED

47. In determining the value of the improvements the BIR regulations provide that the value of the latest tax declaration is more than 3 years old the seller must therefore get a a. Certificate of no improvement b. CERTIFICATION FROM ASSESSOR THAT THE TAX IS STILL THE LATEST c. Certificate from the building office that the building is old d. NOTA

b. CERTIFICATION FROM ASSESSOR THAT THE TAX IS STILL THE LATEST

48. Mr and Mrs. Saduc sold their condominium until which is being leased out to a tenant as part of their leasing business with the execution of the sale last February 1, 2008, though the deed of sale was only notarized the next day February 2, 2008. When is the deadline to pay the creditable withholding tax for the sale of the property a. February 28, 200 b. March 2, 2009 c. March 10, 2008 d. March 5, 20084

c. March 10, 2008

49. The real estate broker was processing the sale of the owner which was duly notarized on April 5, 2009, but he failed to file and pay the capital gains on its due date. How much will the surcharge penalty the owner will be charged for late payment? a. 10% b. 15% c. 20% d. 25%

d. 25%

50. Although the capital gains tax was paid by the seller on time, the seller forgot to pay the documentary stamp tax on time and after its due date. If the owner will be charged interest on the late payment of documentary stamp tax how much interest per annum will be charged a. 10% b. 15% c. 20% d. 25%

d. 25%

51. A multi national corporation engaged in the manufacture of steel bars owned a parcel of land in a residential subdivision which it bought as an investment and now is selling at a price of P5,000,000 with the buyer to pay for the documentary stamp tax. What will be the rate of tax that the corporation shall pay for the tax on the sale of the property? a. 6% b. 5% c. 7% d. 3%

a. 6%

52. To be exempted from capital gains tax on the sale of your principal residence to purchase another residence you must inform the BIR within how many days of your intention to avail of the tax exemption. a. 12 months b. 18 months c. 24 months d. 36 months

b. 18 months

53. In order to avail of the exemption from capital gains tax in the sale of your principal residence, it is one of the first requirements imposed by the BIR to qualify for an exemption. The property must be your residence for a. 20 YEARS b. 15 YEARS c. 10 YEARS d. 5 YEARS

c. 10 YEARS

54. What additional document must be executed by the seller with the BIR in order to avail of the exemption from capital gains tax in the sale of your principal residence? a. Earnest money agreement b. Option money agreement c. Bank agreement d. Escrow agreement

d. Escrow agreement

55. In addition to the capital gains tax the seller must also pay this tax to the BIR unless the buyer will be the one to pay as per agreement and based on the selling price or zonal value or assessors value, whichever is higher. a. Transfer tax b. Real property tax c. Documentary stamp tax d. Community Tax

c. Documentary stamp tax

56. After the filing and payment of capital gains tax on the sale of the house and lot, the BIR will issue to the seller the following document. a. COD b. CAR c. CAT d. CTR

b. CAR

57. A bank sold a 3-storey building for P20,000,000 which it foreclosed from the owner. The bank shall be liable to pay the following tax on the sale. a. Ordinary tax b. Capital Gains tax c. Income tax d. eVAT

b. Capital Gains tax

58. A DEVELOPER OF A RESIDENTIAL CONDOMINIUM PROJECT IN Taguig City sold a condominium unit for the price of P1.8 million pesos what will be the rate of tax that the developer will pay to the BIR for creditable withholding tax a. 3% b. 5% c. 6% d. 7%

a. 3%

59. The BIR examiner, in case of the sale of a person of a house and lot considered as an ordinary asset, must first determine the following before the examiner will be able to know the rate of tax to be imposed a. Whether the person is exempted from paying CGT b. Whether the person is delinquent in tax payment c. WHETHER THE PERSON IS HABITUALLY ENGAGED IN REAL ESTATE BUSINESS OR NOT d. NOTA

c. WHETHER THE PERSON IS HABITUALLY ENGAGED IN REAL ESTATE BUSINESS OR NOT

60. A tenant leases a condominium unit from the owner for a period of one year and uses the same as his office. How much creditable withholding tax must the tenant deduct and pay to the BIR. a. 3% b. 5% (rental) c. 6% d. 7%

b. 5% (rental)

61. A developer of a residential subdivision must pay the creditable withholding tax within how many days after the end of the month of the sale a. 10 days b. 15 days c. 20 days d. 5 days

a. 10 days

62. A married couple who were both licensed real estate brokers and engaged actively in real estate brokerage shall be both liable to the payment of value-added tax on their commissions earned when the total commission exceeds a. 1 million b. 1.5 MILLION c. 2 million d. 2.5 million

b. 1.5 MILLION

63. Fundamental principles of local taxation of real estate properties located in a city or municipality is the following EXCEPT; a. APPRAISED IN ITS CURRENT AND FAIR MARKET VALUE b. ACTUAL USE c. UNIFORM CLASSIFICATION d. APPRAISED BY A PRIVATE APPRAIS

d. APPRAISED BY A PRIVATE APPRAISER

64. A special levy is the SEF tax which shall the rate of a. 2% of the assess value b. 3% of the assess value c. 1% of the assess value d. 4% of the assess value

c. 1% of the assess value

65. Although the collection of real property tax accrues on the first day of the year, the same may be paid without penalty a. In quarterly payments at the end of each quarter b. In quarterly payments at the beginning of each quarter c. In monthly payments at the end of each month d. In monthly payments at the beginning of each month

a. In quarterly payments at the end of each quarter

66. The penalty for nonpayment of the special education fund tax on its due date is : a. 1% per annum b. 2% PER ANNUM c. 3% per annum d. 4% per annum

b. 2% PER ANNUM

67. An owner of a parcel of land which had been owned by the owner for more than twenty years will be declared for the first time with the municipal assessor and the owner shall be subject to taxes for a maximum period of a. 15 years b. 20 years c. 10 years d. 5 years

c. 10 years

68. The city council wanted to help its residents and taxpayers in its municipality and passed an ordinance giving a discount to real property owners for annual taxes paid, but should not exceed the rate of ___ discount a. 5% b. 10% c. 20% d. 30%

c. 20%

69. For non-payment of real-estate taxes and being delinquent, the city sold the property of the owner in a public auction. The owner however, redeem the property within the period of a. 1 YEAR FROM THE DATE OF THE AUCTION SALE b. 1 year from the date of the registration in the ROD c. 1 year from the date of notarization. d. 1 year from the date of the deed of sale

a. 1 YEAR FROM THE DATE OF THE AUCTION SALE

70. The following composed the Board of Assessment Appeals in the City of Manila except. a. CITY / PROVINCIAL REGISTER OF DEEDS b. CITY / PROVINCIAL ASSESSOR c. CITY/PROVINCIAL PROSECUTOR d. CITY / PROVINCIAL ENGINEER

b. CITY / PROVINCIAL ASSESSOR

71. In payment of estate tax, an allowed deduction to the gross estate of a decedent in funeral expense is: a. 5% OF GROSS ESTATE OR P200,000 WHICHEVER IS HIGHER b. 10% of gross estate or P200,000 whichever is higher c. 15% of net sale or P 200,000 whichever is higher d. 10 % of net sale or P 200,000 whichever is higher

a. 5% OF GROSS ESTATE OR P200,000 WHICHEVER IS HIGHER

72. The documentary stamps for the Estate tax shall be paid on: a. After 30 days from notarization b. 60 days from the date of notarization c. 0%, not applicable d. 1%

c. 0% not applicable

73. Maximum allowed for funeral expenses a. 5% of gross estate or P200,000whichever is higher b. 10% of gross estate or P200,000whichever is higher c. 15% of gross estate or P200,000whichever is higher d. 20% of gross estate or P200,000whichever is higher

a. 5% of gross estate or P 200,000whichever is higher

74. The amount of a family home equivalent to fair market value is considered as an allowable deduction from the estate of a decedent. a. P500,000 b. P2,000,000 c. P1,000,000 (10M) d. P50,000

c. P1,000,000 (10M)

75. Mr. Maning Camot sold his property at P5M inclusive of the capital gain tax, documentary stamp tax, and broker’s commission of 5%. What will be his net proceed after the deduction of expenses? a. P4,375,000 sol. 5M-12.5% b. P 4,455,000 c. P4,875,000 d. P4,555,000

a. P4,375,000 sol. 5M-12.5%

76. Determine the capital gain tax of an 800sqm. lot with a house was sold for P3,500,000 per tax declaration, the market value of the house is P1.5 M and the lot is P1.6M. The zonal lot value of the house is P3, 500.00/sqm. The sale is subject to capital gain tax. Find the basis of Capital GainTax a. P4,300,000 sol.800x3500=2.8M+1.5M= b. P 4,150,00 c. P4,200,000 d. P 4,350,000

a. P4,300,000 sol.800x3500=2.8M+1.5M=

77. Find how much the documentary stamp of an 800 sqm. lot with a house was sold for P3,500,000. per the tax declaration, the market value of the house is P1.5 M and the lot is P1.6M. The zonal value of the house is P3,500.00/sqm. The sale is subject to capital gain tax. a. P 63,450 b. P 64,6000 c. P 64,500 Sol.4.3M x 1.5% d. P 64,220

c. P 64,500 Sol.4.3M x 1.5%

78. If VAT is P 720,000, what is the selling price before VAT? a. P5M b. 7M c. P6M Sol.720k / 12% d. P8M

c. P6M Sol.720k / 12

79. A family residential was sold at P 4,500,000. The BIR FMV is P 5,00,000. Then the owner bought a new residential home worth 3,000,000. What is the capital gain tax on the unutilized portion? a. P 98,000 b. P100,000 c. P90,000 Sol. 4.5M-3M=1.5Mx6%= d. 105,000

c. P90,000 Sol. 4.5M-3M=1.5Mx6%=

80. Classification and use of lands exempted from CARP law but not included. a. LANDS ACTUALLY, DIRECTLY AND EXCLUSIVELY USE FOR PRAWN FARM AND FISHPOND; LANDS DEVOTED TO RAISING OF LIVESTOCK‟ POULTRY OR SWINE. b. AGRICULTURAL LANDS WITH SLOPE OF 18% OR MORE; LANDS ACTUALLY, DIRECTLY AND EXCLUSIVELY USED AND FOUND NECESSARY FOR PARKS, WILDLIFE, FOREST RESERVES, REFORESTATION, FISH SANCTUARIES, BREEDING GROUNDS, WATER SHED AND MANGROVES. c. LANDS ACTUALLY, DIRECTLY AND EXCLUSIVELY USED AND FOUND NECESSARY FOR NATIONAL DEFENSE, SCHOOL SITES, CHURCH SITES, MOSQUESITES, COMMUNAL BURIAL GROUNDS AND PENAL COLONIES. d. LANDS ACTUALLY, DIRECTLY AND EXCLUSIVELY USED AND FOUND NECESSARY FOR NATIONAL DEFENSE, SCHOOL SITES, CULTURAL MOVEMENT SITES, MOSQUE SITE COMMUNAL BURIAL GROUNDS AND PENAL COLONIES e. ALL OF THE ABOVE

81. Cases where conversion of agricultural land cannot be allowed except: a. AGRICULTURAL LAND WITHIN RESTRICTED AREAS DESIGNATED UNDER THE NATIONAL INTEGRATED PROTECTED AREAS SYSTEMS ( NIPAS ), INCLUDING WATERSHED AND RECHARGED AREAS OF ACQUIFIER; IRRIGATED LANDS WHERE WATER IS AVAILABLE FOR RICE AND OTHER CROPS PRODUCTION AND ALL IRRIGATED LANDS WHERE WATER IS NOT AVAILABLE BUT ARE WITHIN AREAS PROGRAMMED FOR IRRIGATION FACILITY REHABILITATION. b. IRRIGABLE LANDS ALREADY COVERED BY IRRIGATION PROJECTS WITH FIRM FUNDING COMMITMENT. c. AGRICULTURAL LANDS WITHIN IRRIGATION FACILITIES OPERATED BY PRIVATE ORGANIZATIONS. d. AGRICULTURAL LANDS WITH DESTROYED IRRIGATION FACILITIES AND SCARCE AVAILABILITY OF WATER

c. AGRICULTURAL LANDS WITHIN IRRIGATION FACILITIES OPERATED BY PRIVATE ORGANIZATIONS.

82. An enactment that gives municipalities the power to reclassify up to 15% of agricultural land not covered by CARL to non-agricultural uses if it is deemed by the local council ( sanggunian ) to be either no longer sound for agriculture or substantially greater value if used for residential, commercial, or industrial purposes. a. RA. 7160 b. 1988 LGU c. 1989 LGU d. Ra 7155

a. RA. 7160

83. It is the act of changing the current use of land awarded per RA 6657 a. CONVERSION b. Transformation c. Relocation d. Reconversion

a. CONVERSION

84. Change from 1 classification or use of the land property to another. a. LAND RECLASSIFICATION b. land expropriation c. Land conversion d. land re-use order.

a. LAND RECLASSIFICATION

85. Has ruled that all agricultural lands that are already classified as commercial, industrial, or residential before June 15, 1988, no longer need any conversion clearance even if it is still devoted to agricultural activity. a. Republic Act 6657 b. Ministry Order No. 39 series of 1985 c. Republic Act 7279 d. DOJ Opinion No. 44 SERIES of 1990

a. Republic Act 6657

86. Conversion permit of agricultural land of not more than 5 hectares shall be approved by the: a. Municipal Agrarian Reform b. Regional Agrarian Reform Office c. Provincial Agrarian Reform d. Usec. For Legal Affairs, DAR87.

c. Provincial Agrarian Reform

87. Registration of sale of five (5) hectares of agricultural land must be accompanied by a. DAR conversion permit b. DAR clearance c. HLURB License to Sell d. LGU Development Permit

b. DAR clearance

88. Documentary requirement for DAR clearance in the sale of 5-hectare agricultural land except: a. APPLICATION FOR DAR CLEARANCE; COPY OF TITLE, LOT, AND VICINITY PLAN. b. SELLER’S AFFIDAVIT OF NON-TENANCY OR TENANT‟ S AFFIDAVIT OF VOLUNTARY SURRENDER; SELLER‟S AFFIDAVIT THAT THE HECTARAGE HE IS SELLING IS HIS RETENTION AREA; BUYERS AFFIDAVIT THAT THE HECTARAGE HE IS BUYING, TOGETHER WITH HIS PRESENT AGRICULTURAL LAND HOLDINGS, IF ANY, DOES NOT EXCEED 5 HAS. c. MUNICIPAL ASSESSOR’S CERTIFICATION OF SELLER‟S AND BUYER’S EXTENT OF LANDHOLDINGS IN THE MUNICIPALITY; THE PROVINCIAL ASSESSOR‟ CERTIFICATION OF SELLER’S AND BUYER’S EXTENT OF LANDHOLDING IN THE PROVINCE; CLEARANCE FROM NATIONAL IRRIGATION AUTHORITY d. SELLER’S AFFIDAVIT OF NON-TENANCY OR TENANT'S AFFIDAVIT OF VOLUNTARY SURRENDER; BUYER'S AFFIDAVIT THAT THE HECTARAGE HE IS SELLING IS HIS RETENTION AREA; BUYER’S AFFIDAVIT THAT THE HECTARAGE HE IS BUYING, TOGETHER WITH HIS PRESENT AGRICULTURAL LANDHOLDINGS, IF ANY, DO NOT EXCEED 5 HAS.

a. APPLICATION FOR DAR CLEARANCE; COPY OF TITLE, LOT, AND VICINITY PLAN.

89. Beneficiary of land may not sell, transfer, convey through hereditary succession said land for a period of: a. 5 years b. 10 YEARS c. 7 years d. 12 years

b. 10 YEARS

90. As provided for by the Agrarian Reform Law, lands awarded to a tenant beneficiary cannot be subject to a conversion permit within: a. Within 1 year from the grant of emancipation patent. b. Within 2 years from the grant of emancipation patent. c. WITHIN 5 YEARS FROM GRANT OF EMANCIPATION PATENT. d. Within 10 year from grant of emancipation patent

c. WITHIN 5 YEARS FROM GRANT OF EMANCIPATION PATENT.

91. Government required approvals for the development of agricultural land into subdivision projects except: a. DAR – conversion permit; b. DENR-ECC; c. LGU-development permit & local clearance d. LRA/LMB- APPROVAL INDIVIDUAL LOTS-TECHNICAL DESCRIPTION

d. LRA/LMB- APPROVAL INDIVIDUAL LOTS-TECHNICAL DESCRIPTION

92. Before a developer can start selling lots or units in a condominium project, it must FIRST secure from the HLURB a. CERTIFICATE OF REGISTRATION b. License to sell c. Certificate of completion d. Certificate of Conversion

a. CERTIFICATE OF REGISTRATION

93. The following types of projects are required to obtain a Certificate of Registration and License to Sell form HLURB, except: a. CONDOMINIUM b. SUBDIVISION c. TOWNHOUSES d. OFFICE BUILDING

d. OFFICE BUILDING

94. Maximum period that a foreigner may lease real estate under the FOREIGN INVESTORS LEASE ACT is a. 50 years renewable for 25 b. 25 renewable for 25 years c. 100 years renewable for 50 d. NOTA

a. 50 years renewable for 25

95. The following is composed of the BOARD OF ASSESSMENT APPEALS IN THE CITY of Malaybalay City. a. CITY ASSESSOR b. CITY ENGINEER c. CITY COUNCIL d. CITY MAYOR

b. CITY ENGINEER

96. The following composes the local board of assessment appeals EXCEPT a. REGISTRAR OF DEEDS b. CITY/MUNICIPAL PROSECUTOR c. PROVINCIAL/CITY/MUNICIPAL ENGINEER d. ASSESSOR

d. ASSESSOR

97. The powers of HLURB to approve subdivision plans have been devolved to the local government pursuant to _____? a. RA 7160 b. PD 957 c. BP 220 d. EO71

d. EO71

98. The highest policy-making body for housing under the law is referred to as. a. HUDCC b. HLURB c. NHA d. LRA

a. HUDCC

99. The following government agencies are attached agencies of the Housing and Urban Development Coordinating Council HUDCC, except: a. HLURB b. NHA c. NHMFC d. LRA

d. LRA

100. Under the government socialized housing program, the ceiling amount for socialized housing has been increased to the amount of a. 200,000 b. 450,000 c. 500,000 d. 550,000

b. 450,000