REB Flashcards
What is the primary purpose of RA#9646?
A. To regulate the construction of real estate properties in the Philippines.
B. To govern the professional practice of real estate service in the Philippines.
C. To manage taxation policies on real estate transactions.
D. To oversee property management companies.
B. To govern the professional practice of real estate service in the Philippines.
Which of the following is NOT a requirement for a Real Estate Broker under RA#9646?
A. Valid certificate of registration issued by the PRC.
B. Payment of a professional indemnity bond.
C. Bachelor’s degree in engineering.
D. Passing the licensure examination.
C. Bachelor’s degree in engineering.
What does a “Net Listing” agreement specify?
A. The broker receives a fixed salary for services rendered.
B. The seller specifies a minimum net amount they want to receive, and the broker adds their commission.
C. The broker is the only authorized agent to sell the property.
D. The buyer pays the broker’s commission directly.
B. The seller specifies a minimum net amount they want to receive, and the broker adds their commission.
What is the role of a Real Estate Appraiser?
A. To sell and lease properties on behalf of clients.
B. To provide expert opinions on property values.
C. To develop and manage real estate projects.
D. To mediate between buyers and sellers in real estate transactions.
B. To provide expert opinions on property values.
What is the maximum Loan-to-Value (LTV) ratio for residential real estate loans under the General Banking Act?
A. 70%
B. 80%
C. 85%
D. 90%
B. 80%
Which of the following listings grants the broker a commission even if the property owner sells it themselves?
A. Open Listing
B. Exclusive Agency Contract
C. Exclusive Right to Sell
D. Net Listing
C. Exclusive Right to Sell
What is the significance of the “Hold-Over Clause”?
A. It allows the broker to continue advertising the property after the agreement ends.
B. It entitles the broker to a commission if the buyer introduced during the agreement period purchases the property later.
C. It allows the buyer to terminate the contract without penalties.
D. It prevents the seller from hiring another broker for a set period.
B. It entitles the broker to a commission if the buyer introduced during the agreement period purchases the property later.
What is the purpose of Mortgage Redemption Insurance (MRI)?
A. To insure the property against natural disasters.
B. To cover the remaining loan balance in case of the borrower’s death.
C. To provide insurance for real estate brokers against malpractice claims.
D. To guarantee the sale of the property within the loan term.
B. To cover the remaining loan balance in case of the borrower’s death.
Which phase of the economic cycle is characterized by full employment and maximum output?
A. Expansion
B. Recession
C. Prosperity
D. Recovery
C. Prosperity
Which government agency oversees the Pag-IBIG housing loan program?
A. Department of Human Settlements and Urban Development (DHSUD)
B. Department of Finance (DOF)
C. National Home Mortgage Finance Corporation (NHMFC)
D. Housing and Land Use Regulatory Board (HLURB)
A. Department of Human Settlements and Urban Development (DHSUD)
Which of the following is a key characteristic of real estate?
A. Homogeneity
B. Indestructibility
C. Mobility
D. Perishability
B. Indestructibility
What does the term “Situs” in real estate refer to?
A. The size of the property.
B. The legal description of the property.
C. The property’s physical location and its desirability.
D. The improvement value of the property.
C. The property’s physical location and its desirability.
Which type of demand is common for essential housing, where price changes do not significantly affect demand?
A. Elastic Demand
B. Inelastic Demand
C. Unitary Elastic Demand
D. Perfectly Elastic Demand
B. Inelastic Demand
What is the main objective of the Community Mortgage Program (CMP)?
A. To fund large-scale real estate developments.
B. To provide affordable housing for informal settlers and disadvantaged groups.
C. To regulate real estate brokers in the Philippines.
D. To secure government revenue through real estate taxes.
B. To provide affordable housing for informal settlers and disadvantaged groups.
What does an Exclusive Agency Contract in real estate specify?
A. The broker earns a commission regardless of who sells the property.
B. The broker shares the commission equally with the property owner.
C. The broker is the sole agent but does not earn a commission if the owner sells the property.
D. The broker acts as a consultant and does not handle transactions directly.
C. The broker is the sole agent but does not earn a commission if the owner sells the property.
Who are considered fiduciaries in a buyer-broker relationship?
A. The buyer alone.
B. The broker alone.
C. Both the buyer and broker.
D. The seller and the buyer.
B. The broker alone.
What does the acronym REIT stand for in the Philippines?
A. Real Estate Investment Transaction
B. Real Estate Investment Trust
C. Real Estate Infrastructure Tax
D. Real Estate Industrial Training
B. Real Estate Investment Trust
What happens if a salesperson negotiates a real estate transaction without accreditation under RA#9646?
A. The transaction is automatically voided.
B. The salesperson can face a fine or imprisonment, and the broker supervising them can also be penalized.
C. Only the salesperson is held accountable.
D. The penalties apply only if the client files a complaint.
B. The salesperson can face a fine or imprisonment, and the broker supervising them can also be penalized.
What is the penalty for an unlicensed individual practicing real estate in the Philippines?
A. PHP 100,000 fine or 2 years imprisonment.
B. PHP 200,000 fine or 4 years imprisonment.
C. PHP 150,000 fine or 3 years imprisonment.
D. PHP 250,000 fine or 5 years imprisonment.
B. PHP 200,000 fine or 4 years imprisonment.
Which document is commonly referred to as the “Authority to Sell”?
A. Listing Agreement
B. Deed of Sale
C. Mortgage Agreement
D. Property Title
A. Listing Agreement
