RED OCTOBER REVIEW CENTER

ANSWER KEY MOCK EXAM FOR BROKERS

ANSWER KEY MOCK EXAM FOR BROKERS
1.
2.
3.
4.
5.
6.
7.
8.
9.

d.
c.
b.
c.
d.
d.
b.
d.
c.

Bind the principal in a contract

Exchange agency
Authorization to Sell.
Principal
Fiduciary relationship
Exclusive right to sell
Employment of a broker by owner to sell or lease
Agreement between seller and broker
Register and negotiate with his prospect during his authority

10.a. A licensed broker who failed to renew his license prior to July 30, 2009
11.b. Those who had passed the 2009 & 2008 licensure examinations given
by DTI but who had failed to renew their license upon the effectivity of RA
9646
12.c.Those who had passed the 2007 licensure examinations given by DTI but
who had failed to renew their license upon the effectivity of RA 9646
13.Those who had passed the DTI licensure examinations in 2006 and prior
years but who had failed to renew their license upon the effectivity of RA
9646
14.c. Either a or b.
15.a. Real estate salesman
16.a. Accredited and Integrated Professional Organization
17.b. Professional Regulatory Board of Real Estate Service
18.a. Relevant Bachelors Degree
19.e. Regular court
20.e. Ten years
21.d. Material fact, data or information
22.d. Procurement of loans secured by real estate
23.d. Non-payment of dues
24.d. Willingly share with other brokers the lessons from his experience and
study
25.e. The owner, without solicitation from the new broker, offers to list the
same with the new broker after the authority of the listing broker has
expired or been revoked
26.c. Authorized by the owner
27.d. absolute community of property
28.a. market value
29.a. appraisal
30.any of the above
31.a. on commercial and investment properties
32.b. Torrens title
33.a. appraisal
34.a. avulsion
35.b. square planning
36.e. none of the above
37.d. Lis pendens
38.a. principle of conformity

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ANSWER KEY MOCK EXAM FOR BROKERS
39.a. unearned increment
40.e. any of the above
41.a. offered amount
42.a. straight-line method
43.b. occupation
44.a. principle of progression
45.d. affidavit of adjudication
46.a. market analysis
47.a. 2 years
48.e. None of the above
49.a. Rectangular survey
50.a. Gross income multiplier
51.d. Easement
52.a. Nine (9) or less
53.a. Depreciation
54.a. Amortization
55.d. Patrimonial property
56.a. Anticipation
57.b. Public plaza converted into housing project
58.a. 10% of all titles in the registry
59.e. Purchasing power
60.a. Ordinary assets
61.b. Topographic survey
62.c. Accession
63.d. Principle of Competition
64.a. Personal Property
65.e. None of the above (10 years)
66.b. Fee simple
67.c. Mechanics Liens
68.d. Attachments
69.c. P325,000.00 (50% of P500,000 plus 5% for every year after 5 years =
P250,000 + 75,000)
70.c. Pactum Commissorium
71.d. Antichresis (Hypothecate means to pledge (property) as security or
collateral for a debt without transfer of title or possession
72.c. Dacion en pago
73.c. Alienation
74.c. Automatic redemption clause
75.b. Assign his rights
76.b. Power to sell directly
77.c. Lease fee estate
78.d. Blanket mortgage
79.c. Statute of Fraud
80.a. 4 years
81.b. Deed of conditional sale
82.c. 10 years
83.c. 2 months Note: Answer is based on rent control law which expired
December 31, 2004.

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ANSWER KEY MOCK EXAM FOR BROKERS
84.c. Defeasance clause
85.d. Any of the above
86.d. any of the above
87.b. Special education fund tax
88.e. Prepaid income tax
89.e. 50% of the area is uncultivated
90.b. P1.00 for every P1,000 in excess of the first P2,000
91.e. 20% interest per annum
92.c. Two percent of assessed value
93.e. Thirty percent
94.e. Assessed value
95.d. 180 days from death of decedent
96.b. Year 2010
97.b. Within five (5) days after the close of the month of the date of sale
98.c. 20%
99.b. Concerned Municipal Assessor
100. c. P 1,000,000.00
101. c. 60 days
102. a. Ordinary assets
103. b. Creditor-bank
104. a. P20.00 for the 1st P5,000.00 plus P10.00 for every P5,000.00
thereafter
105. b. P2,500,000.00
106. e. None of the above
107. c. Creditable withholding tax
108. b. Documentary stamp tax
109. a. P33,000
110. e. P110,000
111. a. P1,060,000
Selling Price
Cash Payment to the Seller
Add: Assumed Mortgage
Selling Price
112.

b. P960,000

Contract Price
Selling Price
Less: Assumed Mortgage
Contract Price
113.

P 960,000
100,000
P1,060,000

P1,060,000
( 100,000)
P 960,000

c. P760,000

Initial Payment made for 6 months

Downpayment
P160,000
Installments made (P100T x 6 mos. for July-Dec.)
600,000
Initial Payment for Taxable year
P760,000
114.

a. P212,000

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ANSWER KEY MOCK EXAM FOR BROKERS
Gross Profit based on cost
Selling Price
P1,060,000
Less: Acquisition Cost (P1.060M/125%)
( 848,000)
Gross Profit
P 212,000
115.

a. 22.08%

Gross Profit Rate for Tax Purposes =

Gross Profit
Contract Price
P960,000 = 22.08%
116.

P212,000

c. P167,808

Taxable Income for 2008 = P760,000 x 22.08%

117. b. P44,160

P167,808

Taxable income for 2009 = P200,00 (P960T-P760T) x 22.08% = P44,160

118. b. Land banking
119. d. abandoned and idle land
120. d. eighteen percent
121. e. None of the above
122. d. Land use planning
123. c. Foreclosure
124. d. Regional Agrarian Reform Officer
125. b. expropriation
126. tenants right of first refusal
127. d. site planning
128. c. Affidavit of f total or aggregate landholdings
129. d. 5 has for the landowner and 3 has per child who must be at least 15
years old and is actually tilling the land or managing the farm
130. b..Total payments made less penalty and interest charges.
131. b. Twelve months
132. b. Housing and Land Use Regulatory Board
133. c. Equal
134. a. RA 7279
135. d. RA 4726
136. b. License to sell
137. c. Condominium
138. d. P.D. 957
139. c. Subdivision lots
140. b. Owner of condominium unit
141. c. Simple majority
142. c. Socialized housing
143. e. Regular courts
144. d. 6 meters
145. b. 20% of development cost
146. c. City or municipal engineer
147. c. Non-alienable public lands

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148.
149.
150.
151.
152.

d.
b.
c.
d.
d.

ANSWER KEY MOCK EXAM FOR BROKERS

Co-terminus with duration of condominium project
30% of gross area
be susceptible of independent use and ownership
Floor area of ownership
Housing and Land Use Regulatory Board

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