PRE-BOARD EXAMS (by Raul_DANNANG)

b. Four (4) years

1. On a Pacto de Retro contract of sale which there is no stipulation of the period to which the vendor shall have the right to buy back or redeem of the property. The period of redemption shall be: a. Two (2) years b. Four (4) years c. Eight (8) years d. Six (6) years e. Ten (10) years

d. Signature of the Buyer

10. A deed of sale of property owned by spouses does not have to contain the following - a. Identity of both Seller and Buyer; b. Technical description of the property subject of the sale c. Signature of the Seller's spouse d. Signature of the Buyer

c) Application for the BIR certificate of authority to register

11. Which of these requirements must be accomplished ahead of the rest - a) Payment of transfer taxes b) Submission of documents of sale to Register of Deeds c) Application for the BIR certificate of authority to register d) Application for the new tax declaration

c) Verifying the exact location of property monuments

12. The following is not necessary in transferring title to property - a) Updating the payment for realty taxes b) Obtaining the Owner's duplicate copy of the title c) Verifying the exact location of property monuments d) Verifying the title with the Register of Deeds

c. Transfer tax

13. This tax is not imposed by the BIR in the transfer of property - a. Capital gains tax b. Value added tax c. Transfer tax d. Documentary stamps tax

b) Authentication certificate of the foreign notary

14. A special requirement required for documents that are notarized outside the country -- a) Copy of the passport of the person signing the document b) Authentication certificate of the foreign notary c) Accreditation of the foreign notary with the Philippine consulate abroad d) All of the above

c) Income tax return of both parties

15. The following is not part of the documents required by the BIR in a property sales transaction -- a) Certified true copy of the TCT b) Notarized deed of sale c) Income tax return of both parties d) BIR receipts for payment of capital gains tax if applicable

c) a variable amount

16. The creditable withholding tax imposed by BIR in the sale of a property is -- a) 1.5% b) 6% c) a variable amount d) 12%

b) 30 days after the sale

17. Deadline for filing and paying the capital gains tax on the sale of property is -- a) 15 days after the sale b) 30 days after the sale c) 45 days after the sale d) 5 days after the end of the month of sale

b. City or municipal assessor

18. The tax clearance certificate for real property taxes is obtained from - a. BIR b. City or municipal assessor c. Land tax division d. City or municipal mayor

c) Copy of the corporation's latest audited financial statement

19. The corporate documents required for presentation during registration of property need not include the - a) Secretary's certificate that the Board authorized the transaction and signatory b) Copy of the corporate articles of incorporation and bylaws c) Copy of the corporation's latest audited financial statement d) All of the above

b. MHS

2. The following agencies are attached to the Housing and Urban Development Coordinating Council except: a. HIGC b. MHS c. NHMFC d. HGC

c. DAR clearance

20. If a property being transferred is "agricultural land", the following is required by the Register of Deeds -- a. Certificate of land ownership award b. DAR conversión c. DAR clearance d) Approval of the Dept.of Agriculture

b. Apply for new tax declaration

21. After buying a property, the new owner must bring the new title and go to the local government to - a. Submit copy of the new title b. Apply for new tax declaration c. Pay for the realty tax d. None of the above

d) Any of the above

22. The "E-title" is a newly-coined term which refers to the new look of titles from Register of Deeds which is -- a) A new form of title document printed from an electronic database b) A title document that was converted into a PDF file format c) An electronic copy of the former title document d) Any of the above

b) The title of the land is annotated with a master deed

23. With respect to a condominium project, which of these statements is TRUE - a) Title of the land is replaced by new titles of the condo units b) The title of the land is annotated with a master deed c) The titles of condominium units are always attached to the title of the land d) None of the above

c. Certificate of management

24. If CCT's are being issued for the first time in a condominium project, the following is not one of the requirements -- a. Master deed b. License to sell c. Certificate of management d. Certificate of registration with HLURB

a. Real Estate

25. Refers to the land and all those items which are attached to the land. It is the physical tangible entity, together with all the additions or improvements on, above or below the ground. a. Real Estate b. Real Property c. Realty d. Estate

d. Donation

26. It is a mode of acquiring ownership by transferring ownership over a thing certain to another the primary consideration being love and affection, during one's lifetime a. Sale b. Prescription c. Succession d. Donation

d. All of the Above

27. Which among the following cannot avail of the Dual Citizenship Law? a. An American citizen who is married to a Filipino b. An American citizen whose father is a Filipino c. An American citizen whose mother is a Filipino d. All of the Above

b. Dominant Estate

28. Land which does not have access to a public road which is given a right of way through an adjoining land. a. Escheat b. Dominant Estate c. Servient Estate d. Paraphernal Property

b. Bank accounts for purchase of land

29. Real property includes all the following except a. The land and anything permanently attached to the land b. Bank accounts for purchase of land c. Bundle of rights d. That which is immovable by law

d. Renewal

3. Agency relationship is not extinguished by a. Revocation b. Expiration c. Death d. Renewal e. Accomplishment

d. Lis Pendens

30. An annotation in the title which serves as notice that the property is subject to a pending litigation - a.Eminent Domain b. Judicial Note c. Expropriation d. Lis Pendens

a. Administrator

31. A person appointed by the court to handle the estate of one who died intestate is called a(n): a. Administrator b. Executor c. Trustor d. Vendor

c. Sale

32. Which of these words does not belong with the others? a. Will b. Executor c. Sale d. Heir

d. Absolute community of property

33. Spouses who were married after the effectivity of the Family Code without any pre-nuptial agreement shall be governed by: a. Conjugal partnership of gains b. Co-ownership c. Partial community of property d. Absolute community of property

c. Antechresis

34. It is a contract by which the fruits of real property is used to secure an obligation. a. Usufructuary b. Real Estate Mortgage c. Antechresis d. Escheat

c. Possession

35. It is the holding of the thing and enjoyment of a right a.Ownership b. Title c. Possession d. Claim

c. Private

36. Patrimonial property of the state is that which it owns in what capacity? a. Sovereign b. Ancestral c. Private d. Public

d. Co-ownership

37. What is the property regime for people who live together without the benefit of marriage? a. Absolute Community b. Absolute Separation c. Conjugal Partnership of Gains d. Co-ownership

b. By legislative act

38. How can inalienable land of the public domain be transformed to alienable agricultural land? a. By the Government b. By legislative act c. By land grant d. By agrarian or urban land reform

b. Prescription

39. It is a mode of acquiring ownership by occupying the property in open, continuous, exclusive and notorious manner in the concept of the owner. a. Sale b. Prescription c. Squatting d. Occupation

d. Estate tax

4. The obligation to pay the tax accrues at the moment of death: a. Donor's tax b. Transfer Tax c. Capital Gains Tax d. Estate tax e. Documentary Stamp Tax

c. Devisee

40. A person specified by a decedent to be a beneficiary of real property. a. Heir b. Legatee c. Devisee d. Occupation

d. All of the above

41. Which among the following is an attribute of ownership? a. Right to use b. Right to recover c. Right to dispose d. All of the above

a. Absolute Community Property

42. In what property regime is the consent of other spouse mandatory? a. Absolute Community Property b. Absolute Separation of Properties c. Conjugal Partnership of Gains d. Co-ownership

a. Caveat Emptor

43. "Buyers Beware" comes from: a. Caveat Emptor b. Res Ipsa Loquitor c. Ignoratia Legis Non Excusat d. Mens Rea

D. When there is a judicial separation of property

44. Husband and wife cannot sell property to each other except when a separation of property is agreed upon in the pre-nuptial contract and: A. When their property relationships is one of absolute community of property B. When one of the spouses is still a minor C. When there is s pending annulment of their marriage D. When there is a judicial separation of property

d. All of the above

45. Which of the following real property is within the commerce of man? a. Bedrock of a dried river bed b. Resettlement site c. Foreshore properties d. All of the above

c. Real property inherited by the husband during the marriage

46. Under a property regime of Absolute Community Property, which among the following properties are excluded? a. A property exclusively owned by the husband before their marriage b. A property bought during the marriage c. Real property inherited by the husband during the marriage d. Real property inherited by the wife before the marriage when she was still single

d. The child of the surviving spouse by a prior marriage

47. Which among the following is not compulsory heir? a. Adopted children b. A surviving spouse who is legally separated from the decedent c. Illegitimate child of the decedent d. The child of the surviving spouse by a prior marriage

b. 60%

48. A corporation can buy real property provided it must be _________ owned by Filipinos a. 0% b. 60% c. 75% d. 80%

c. Encourage, tolerate, or participate in the aversion or illegal reduction in the payment of taxes, fees, dues, levies or charges

49. The real estate practitioner, in relation to the government, is expected to perform as such, except: a. Secure the all necessary licenses, permits and authority b. Pay any and all taxes, fees, dues, levies or charges c. Encourage, tolerate, or participate in the aversion or illegal reduction in the payment of taxes, fees, dues, levies or charges d. Should not offer or agree to pay, split or rebate any commission or fee

b. RA 7652

5. The act allowing the long term lease of private lands by foreign investors. a. RA 8974 b. RA 7652 c. RA 6732 d. RA 6657 e. RA 3844

a. Acquire an interest or buy himself or members of his family within the 4th civil degree

50. With regards to the relation with a client or customer, the practitioner, in accepting an appointment or authority to act and in behalf on the client, can perform such, except: a. Acquire an interest or buy himself or members of his family within the 4th civil degree b. Endeavor to make buyer and seller conclude a fair contract, advantageous to both parties c. Assist his client acquire possession and ownership of the property bought in accordance with the terms and conditions agreed upon d. Should not accept any commission or fee from any party in any transaction except from his client

b. Torrens Certificate of Title

6. Among these documents, the strongest evidence of ownership is the - a. Certificate of Land Ownership Award b. Torrens Certificate of Title c. Approved Plan d. Tax Declaration

b. Torrens Certificate of Title

7. The Register of Deeds is an agency which keeps the original copies of the ______. a. Certificate of Land Ownership Award b. Torrens Certificate of Title c. Approved Plan d. Tax Declaration

c. Deed of Conveyance

8. The document that conveys ownership and all appurtenant interests in a property. a. Certificate of ownership b. Contract to Sell c. Deed of Conveyance d. Certificate of authority to register

a. Secretary's certificate of board resolution authorizing the transaction and corresponding signatory

9. If one of the parties in a real estate transaction is a corporation, the following is required - a. Secretary's certificate of board resolution authorizing the transaction and corresponding signatory b. Signature of the corporation's president c. Signature of the majority of the board of directors d. All of the above