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THE REAL ESTATE BROKER’S EXAMINATION > ODPELS Real Estate Reviewer - Test 11 > Flashcards

ODPELS Real Estate Reviewer - Test 11 Flashcards

1
Q
  1. A development in which a person owns the common property is

a. A Cooperative Property
b. A condominium
c. A homestead
d. NOTA2.

A

b. A condominium

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2
Q
  1. Which of the following is true?

a. A condominium owner need not pay condominium fees that he feels are too high
b. Condominium units are attached housing units
c. Condominium is an ownership form, not an architectural style
d. A condominium cannot be rented

A

c. CONDOMINIUM IS AN OWNERSHIP FORM, NOT AN ARCHITECTURAL STYLE

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3
Q
  1. A condominium homeowner’s association may

a. Require certain owners sell their units
b. Assess Fees for the maintenance of common property
c. Practice discrimination.
d. None of the above

A

b. ASSESS FEES FOR THE MAINTENANCE OF COMMON PROPERTY

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4
Q
  1. Bulk buying under PD 957 is exempted from securing a certificate of registration and license to sell under the following condition

a. Introduction of Housing units without altering the original plan
b. Introduction of housing units with a new plan
c. Introduction of socialized housing with a new plan
d. NOTA

A

a. INTRODUCTION OF HOUSING UNITS WITHOUT ALTERING ORIGINAL PLAN

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5
Q
  1. This type of project is exempted from securing a certificate of registration and license to sell from HLURB

a. SELLING OF 1 HECTARE SUBDIVISION.
b. ON-SITE COMMUNITY MORTGAGE PROJECT.
c. LGU SUBDIVISION
d. PRIVATE SUBDIVISION

A

b. ON-SITE COMMUNITY MORTGAGE PROJECT.

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6
Q
  1. Homeowners associations are under the jurisdiction of the

a. HLURB
b. LGU
c. DTI
d. SEC

A

a. HLURB

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7
Q
  1. The registered owner or developer of the subdivision project may donate the roads and open space of the subdivision project to the city or municipality where it is located on the condition:

a. The Project is completed
b. The homeowners allow the donation
c. The developer option is to donate to LGU
d. NOTA

A

a. THE PROJECT IS COMPLETED

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8
Q
  1. A buyer of a condominium unit bought a unit payable in 5 years starting January 2007 and then the unit was occupied and poised by the buyer last march 2010. When will the buyer start to be the one to pay for the real estate taxes on his unit?

a. April 2010
b. January 2011
c. January 2007
d. January 2010

A

b. JANUARY 2011

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9
Q
  1. On a Pacto de Retro contract of sale there is no stipulation of the period to which the vendor shall have the right to buy or redeem the property. The period of redemption shall be ____ years

a. 4
b. 10
c. 8
d. NOTA

A

a. 4

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10
Q
  1. Under RA 8791, the maximum redemption period after extrajudicial foreclosure of a mortgage executed by a corporation in favor of a bank is.

a. 1 year
b. 6 months
c. 3 months
d. 1 month

A

c. 3 MONTHS

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11
Q
  1. Under the Rent Control Act of 2005 regulating the rent of residential units, the maximum increase in rental shall not be increased by more than annually as long as the unit is occupied by the same lessee

a. 5%
b. 15%
c. 20%
d. 10%

A

d. 10%

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12
Q
  1. A provision in a mortgage contract that allows the creditor to immediately appropriate the property mortgaged in the event the borrower is unable to pay his loan is called.

a. Pacto de retro
b. Pactum Commisorium
c. Antichresis
d. Pactum de non-aliendo

A

b. PACTUM COMMISORIUM

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13
Q

The most common type of foreclosure which a bank undertakes when its borrower fails to pay the principal amount of the loan is
referred to as.

a. Judicial Foreclosure
b. Extra-judicial foreclosure
c. BothAandB
d. NOTA

A

a. JUDICIAL FORECLOSURE

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14
Q
  1. In case of extrajudicial foreclosure of the house and lot by the bank the property shall be sold through

a. Pag-Ibig
b. The developer
c. Public Auction
d. First come first serve

A

c. PUBLIC AUCTION

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15
Q
  1. Mr. Bino Ang borrowed from the bank to buy a condominium residential unit but failed to pay his loan with the bank Mr. Bino
    Ang, upon foreclosure of the condominium unit will have a right to redeem the property sold in a public auction

a. Within 1 year from the registration of the sale with the ROD
b. Within 3 months from the registration of the sale with the ROD
c. Within 1 year from the date of the foreclosure
d. Any of the above 16.

A

a. WITHIN 1 YEAR FROM THE REGISTRATION OF THE SALE WITH THE ROD

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16
Q
  1. Pursuant to Section 3 of BP 220, ________ is authorized to establish and promulgate two levels of standards and technical requirements for the development of economic and socialized housing projects.

a. HLURB
b. HUDCC
c. LGU
d. SHDA17.

A

a. HLURB

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17
Q
  1. Under BP 220, the basic needs of human elements in descending order are as follows:
    a. Water, movement and circulation, storm drainage, solid and liquid waste disposal
    b. Water, movement and circulation, storm drainage, power
    c. Water, movement and circulation, power, storm drainage.
    d. Water, power, movement and circulation, storm drainage
A

a. WATER, MOVEMENT AND CIRCULATION, STORMDRAINAGE, SOLID AND LIQUID WASTE DISPOSAL

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18
Q
  1. Site preservation is one of the requirements of subdivision development under BP 220wherein suitable trees with a caliper diameter of _____ millimeters or more shall be preserved.

a. 100
b. 200
c. 300
d. 400

A

b. 200

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19
Q
  1. Under BP 220, the minimum area for land to be allocated for parks and playgrounds should be _____% of gross area based on
    150 lots and below per hectare.

a. 2.5%
b. 3.0%
c. 3.5%
d. 5%

A

c. 3.5%

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20
Q
  1. Under BP 220, the maximum area for land to be allocated for parks and playgrounds should be _____% of the gross area if the number of lots per hectare is above 225 lots

a. 5.0%
b. 7.0%
c. 9.0%
d. 10.0%

A

c. 9.0%

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21
Q
  1. Area for parks and playground under BP220, in no case, should not be less than____sq.m.

a. 100
b. 150
c. 300
d. 350

A

a. 100

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22
Q
  1. Parks and playgrounds are mandatory for BP 220 projects if the gross area of the subdivision is at least ________.

a. 5,000 sqm.
b. 1 hectare
c. 1.5 hectares
d. 2 hectares

A

b. 1 hectare

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23
Q
  1. Under BP 220 projects, if saleable lots per hectare are above 225 lots, the area for COMMUNITY FACILITIES should be at least____% per hectare.

a. 1%
b. 1.5%
c. 2.0%
d. 2.5%

A

c. 2.0%

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24
Q
  1. Under economic housing, the minimum right-of-way for the major roads is ___meters.

a. 6
b. 7
c. 8
d. 10

A

c. 8

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25
Q
  1. Under economic housing, the maximum right-of-way for major road is ____meters.

a. 10
b. 12
c. 14
d. 15

A

d. 15

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26
Q
  1. Under economic housing, the minimum right-of-way for minor road is ___meters.

a. 7.0
b. 5.5
c. 6.0
d. 6.5

A

d. 6.5

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27
Q
  1. For regular rooms, if without provision for a ceiling, the height from the finished floor line is______meters.

a. 2
b. 2.2
c. 2.5
d. 2.7

A

a. 2

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28
Q
  1. For BP 220 projects, minimum clear widths for bedroom doors should be ______meters.

a. 0.60
b. 0.65
c. 0.70
d. 0.75

A

c. 0.70

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29
Q
  1. Minimum opening of windows in relation to the room floor area

a. 0.05%
b. 0.15%
c. 0.10%
d. 0.20%

A

c. 0.10%

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30
Q
  1. For a single attached, the concrete firewall should be at least _____ inches thick.

a. 4
b. 6
c. 5
d. 7

A

b. 6

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31
Q
  1. Price of a lot for socialized housing should not exceed ________% of the selling price.

a. 25%
b. 30%
c. 40%
d. 50%

A

c. 40%

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32
Q
  1. For multi-family dwellings and condominiums, there should be one parking slot for every ____living unit.

a. 6
b. 7
c. 5
d. 8

A

d. 8

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33
Q
  1. For every contract of sale there must be.

a. An Offer and acceptance
b. A mortgage loan
c. A Broker
d. A good consideration

A

d. A GOOD CONSIDERATION

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34
Q
  1. If upon receipt of an offer to purchase under certain terms, the seller makes a counteroffer, the prospective purchaser is.

a. Bound by his original offer.
b. Bound to accept the counteroffer
c. Bound by the broker’s decision
d.Relieved of His original offer

A

d. RELIEVED OF HIS ORIGINAL OFFER

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35
Q
  1. Under Truth in Lending, the lender must advise the borrower of the loan’s

a. Annual Deposit Amount
b. Annual Percentage Rate
c. Annual Income Statement
d. Annual Financial Statement

A

b. ANNUAL PERCENTAGE RATE

36
Q
  1. In the absence of an agreement to the contrary, the mortgage normally having priority will be the one that

a. Is for the greatest amount
b. Is the permanent mortgage
c. Was recorded First
d. Is the construction loan mortgage

A

c. WAS RECORDED FIRST

37
Q
  1. Complaints about housing discrimination may be brought

a. TO THE DIRECTOR OF THE HLURB
b. DIRECTLY TO COURT
c. EITHER A OR B
d. Neither A or B

A

c. EITHER A OR B

38
Q
  1. Statute of Frauds

a. Requires certain contracts to be in writing to be enforceable
b. Requires a license to operate as a broker or salesperson
c. Regulates escrow accounts
d. Regulates the estate-owning real estate

A

a. Requires certain contracts to be in writing to be enforceable

39
Q
  1. A lease can state that the rent is to be paid in

a. LABOR
b. CROPS
c. CASH
d. ANY OF THE ABOVE

A

d. ANY OF THE ABOVE

40
Q
  1. A mortgaged property can be

a. SOLD WITHOUT THE CONSENT OF THE MORTGAGEE.
b. CONVEYED BY THE GRANTOR MAKING A DEED TO THE GRANTEE
c. BOTH A AND B
d. Neither A nor B

A

c. BOTH A AND B

41
Q
  1. A contract that gives someone the right but not the obligation to buy at a specified price within a specified time.

a. Contract to sale
b. Option Contract
c. Contract of sale
d. None of the above

A

b. OPTION CONTRACT

42
Q
  1. Consideration that is of value only to the person who receives it is called
    a. Good Consideration
    b. Near consideration
    c. Valuable consideration
    d. No consideration
A

a. GOOD CONSIDERATION

43
Q
  1. The transfer, by a tenant, of certain rights and obligations of an existing lease to another tenant is called.

a. Assignment of lease
b. A release
c. Subleasing
d. Eviction

A

c. SUBLEASING

44
Q
  1. A “contract for deed” is also known as

a. AN INSTALLMENT LAND SALES CONTRACT
b. A LAND CONTRACT
c. BOTH A AND B
d. NEITHER A NOR B

A

BOTH A AND B

45
Q
  1. An estoppel certificate is required when the

a. Morgage is sold to an investor
b. Property is sold
c. Property is being foreclosed
d. Mortgage is assumed

A

a. MORTGAGE IS SOLD TO AN INVESTOR

46
Q
  1. An owner who seeks a mortgage loan and offers three properties as security will give

a. Blanket Mortgage
b. A conventional mortgage
c. A chattel mortgaged
d. PAG-IBIG mortgage

A

a. BLANKET MORTGAGE

47
Q
  1. A contract that has no force or effect is said to be

a. Voidable
b. Void
c. Avoided
d. None of the above

A

b. VOID

48
Q
  1. To be enforceable, a sales agreement must-have

a. The signature of the wife of a married seller
b. An earnest money deposit
c. Competent Parties
d. Witnesses

A

c. COMPETENT PARTIES

49
Q
  1. The requirement that all parties to a contract have an understanding of the conditions and stipulations of the agreement is

a. Consenting realty
b. Proper offer
c. Good and valuable consideration
d. Mutual Agreement

A

d. MUTUAL AGREEMENT

50
Q
  1. A mortgage held by the seller of the mortgaged property is

a. A Purchase Money Mortgage
b. A satisfaction piece
c. A lien-dependent
d. A joint tenancy

A

a. A PURCHASE MONEY MORTGAGE

51
Q
  1. A person may void a contract if it

a. Was entered under duress
b. Was entered into with a minor
c. Turned out to be a bad deal
d. Turned out to be a headache

A

a. WAS ENTERED UNDER DURESS

52
Q
  1. Which of the following real estate contracts can be unilateral?

a. LEASE
b. CONTRACT OF SALE
c. MORTGAGED
d. NONE OF THE ABOVE

A

d. NONE OF THE ABOVE

53
Q
  1. Which of the following has no warranty

a. Executor’s deed
b. Quitclaim Deed
c. General warranty deed
d. Trustee’s deed

A

b. QUITCLAIM DEED

54
Q
  1. When a property is foreclosed, which claim takes first priority?

a. Tax Lien
b. First mortgage
c. Second mortgaged
d. Mechanic’s lien

A

a. TAX LIEN

55
Q
  1. Which of the following is a specific lien?

a. Judgement
b. Mechanic
c. Leased
d. None of the above

A

b. MECHANIC

56
Q
  1. A worker who is not paid for work that improves real estate may file an

a. Suit for quiet title
b. Lis pendens
c. Mechanic Lien
d. Satisfaction piece

A

c. MECHANIC’S LIEN

57
Q
  1. In a lease contract, the tenant is the

a. Lessee
b. Lessor
c. Leasee
d. Leasor

A

a. LESSEE

58
Q
  1. A lease that requires a tenant to pay operating expenses of the property is a ___lease.

a. Gross
b. Flat
c. Net
d. Step

A

c. NET

59
Q
  1. The mortgagor’s right to re-establish ownership after foreclosure is called.

a. Acceleration
b. Resatisfaction right
c. Equity of Redemption
d. Redemption provenance

A

c. EQUITY OF REDEMPTION

60
Q
  1. If a borrower defaults on the payments to a mortgage loan, which clause allows the lender to demand immediate payment I full of the entire remaining loan balance?

a. Defeasance
b. Subrogation
c. Acceleration
d. Due-on-sale

A

c. ACCELERATION

61
Q
  1. In the covenant of “SEIZIN” the

a. Mortgagee states that he is foreclosing
b. Lessor states that the lessee has not abided by the lease contract
c. Grantor states that she owns the estate being transferred
d. Lessee states that he is being evicted

A

c. GRANTOR STATES THAT SHE OWNS THE ESTATE BEING TRANSFERRED

62
Q
  1. If the consideration has value only to the person receiving it, it is.

a. Personal consideration
b. Good Consideration
c. Valuable consideration
d. Good and valuable consideration

A

b. GOOD CONSIDERATION

63
Q
  1. A lease that spells out specific increases in rent during the term of the lease is

a. Reappraisal
b. Net
c. Step
d. Percentage

A

c. STEP

64
Q
  1. A clause in a percentage lease that allows the lessor to cancel the lease if the lessee’s revenue is not at least a minimum amount of a ____clause

a. Non-performance
b. Net
c. Defeasance
d. Recapture

A

d. RECAPTURE

65
Q
  1. In a mortgage, the contract specifies payments of Php 2,000 per month, and a final payment of Php 220,000 at the end of 10 years. The final payment is called

a. Escalator
b. Amortization
c. Balloon
d. Parachute

A

c. BALLOON

66
Q
  1. The process in which real estate is sold to pay debts or claims is known as.

a. Lien
b. Foreclosure
c. Covenant
d. Defeasance

A

b. FORECLOSURE

67
Q
  1. Landlord’s right to use a property upon the expiration of lease
    a. Remainder interest
    b. Reversionary Interest
    c. Self-interest
    d. Vested interest
A

b. REVERSIONARY INTEREST

68
Q
  1. A minor may be bound by the courts to contracts for

a. Personality only
b. Realty only
c. Rent only
d. Necessaries Only

A

d. NECESSARIES ONLY

69
Q
  1. A recorded instrument that concerns ownership rights to realty

a. GIVES CONSTRUCTIVE NOTICE
b. NOTIFIES THE PUBLIC OF THE CLAIMS MADE IN IT
c. MUST BE NOTARIZED OR ACKNOWLEDGED.
d. ALL OF THE ABOVE

A

d. ALL OF THE ABOVE

70
Q
  1. Joe acquires a fee simple estate to land belonging to Nest because Joe used and occupied the land openly for a period of time, unmolested by Nest. This is

a. Easement in gross
b. Adverse Possession
c. Estoppel
d. Subrogation

A

b. ADVERSE POSSESSION

71
Q
  1. A person who has another’s power of attorney is called an

a. Agent in place
b. Real estate broker
c. Lawyer
d. Attorney-In-Fact

A

d. ATTORNEY-IN-FACT

72
Q
  1. Zach dies without a will. According to the laws of the estate, Zelda receives title to Zach’s real estate. Zelda has received

a. Title by Descent
b. Clouded title
c. Easement title
d. Legacy title

A

a. TITLE BY DESCENT

73
Q
  1. A deed is recorded.

a. To give public notice
b. To insure title
c. To satisfy the law
d. To avoid extra taxes

A

a. TO GIVE PUBLIC NOTICE

74
Q
  1. The clause that defines or limits the quantity of the estate granted in a deed is the.

a. Habendum
b. Premises
c. Addendum
d. Consideration

A

a. HABENDUM

75
Q
  1. When a party to a contract unintentionally misleads the other party into agreeing to the contract, this action is an example.

a. Fraud
b. Misrepresentation
c. Duress
d. Defeasance

A

b. MISREPRESENTATION

76
Q
  1. A contract of sale of real estate must be signed by

a. Buyer only
b. Broker, buyer, and seller
c. Buyer and Seller
d. Broker only

A

c. BUYER AND SELLER

77
Q
  1. The seller of real estate takes a note secured by a mortgage on the real estate as partial payment. The mortgage is

a. Sale financed
b. Purchase-Money Mortgage
c. Secondary mortgaged
d. First lien

A

b. PURCHASE-MONEY MORTGAGE

78
Q
  1. Which of the following can adequately describe the consideration in a deed?

a. FOR TEN THOUSAND AND OTHER VALUABLE CONSIDERATION
b. FOR NATURAL LOVE AND AFFECTION
c. THE ACTUAL AMOUNT OF CONSIDERATION PAID
d. ALL OF THE ABOVE

A

d. ALL OF THE ABOVE

79
Q
  1. If a person is married she should state her marital status as married and also indicate the name of her husband on spite of real property. The law that provides this requirement is referred to as

a. PD 1520
b. PD 1529
c. PD 2915
d. PD 2015

A

a. PD 1520

80
Q
  1. A parcel of land was sold by a corporation to the buyer, in the case of a corporation, it is required that the person who will sign the deed of absolute sale must be

a. The President
b. The Chairman
c. The Treasurer
d. The person authorized by a board resolution

A

d. THE PERSON AUTHORIZED BY A BOARD RESOLUTION

80
Q
  1. A parcel of land was sold by a corporation to the buyer, in the case of a corporation, it is required that the person who will sign the deed of absolute sale must be

a. The President
b. The Chairman
c. The Treasurer
d. The person authorized by a board resolution

A

d. THE PERSON AUTHORIZED BY A BOARD RESOLUTION

81
Q
  1. This law governs the titling and other transfers of title and encumbrances and other incidents involving the transfer certificate of title and is referred to as Presidential Decree No.1529 is called.

a. Property registration decree
b. Registration of Property Decree
c. Land Registration Decreed.
d. Land Registration Authority

A

a. PROPERTY REGISTRATION DECREE

82
Q
  1. The registration of a deed of absolute is done with the Register of Deeds. Under what government agency is the Register of Deeds under and reporting to

a. LRA
b. DOJ
c. BIR
d. DENR - Department of Environment and Natural Resources

A

a. LRA - Land Registration Authority

83
Q
  1. Original copies of certificates of title lost or destroyed in the office of the Register of Deeds may be administratively reconstituted provided that the number of certificates of titles lost or damaged should be at least ten percent (10%)of the total number and provided that the number of certificates of titles lost or damaged is not less than.

a. 100
b. 200
c. 500
d. 600

A

c. 500

84
Q
  1. The heirs of Mr. Dima Luntoy inherited a piece of land and after the extrajudicial settlement of the estate, the title was
    transferred to the heirs and contained an annotation of Sect 4 Rules of Court which provides the heirs who were not included in the settlement may claim within a period of_____________.

a. 2 years from the date of registration
b. 1 year from the date of registration
c. 2 years from the date of notarization
d. 2 years from the date of settlement

A

a. 2 YEARS FROM THE DATE OF REGISTRATION

85
Q
  1. The adverse claim which has been annotated at the back of the title has a validity period of

a. 15 days
b. 30 days
c. 45 days
d. 60 days

A

b. 30 DAYS

86
Q
  1. When the register of deeds is in doubt as to what proper action to take regarding a deed of absolute sale presented for
    registration, he may bring the question to the Land Registration Authority by means of.

a. Consulta
b. Revalidated
c. Lis pendens
d. Complaint

A

a. CONSULTA

THE REAL ESTATE BROKER’S EXAMINATION (44 decks)

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