1.

The governing law for the protection of buyers who are buying
residential condominium units on instalment basis is referred to as 7. It is regarded as an interest in real property consisting of a separate
rll
interest in a unit in a building and an undivided interest in common in
a. HLURB Rules and Regulations 'lli
'''l' the land on which it is located and in other common areas
® Subdivision and Condominium Buyers' Protective Decree
c. The Condominium Act Condominium unit
d. Realty Installment Buyers' Protection Act :"i,I'
~)
.bJ Condominium
,~
,c. Cornmon areas
2. Absent any provision in the Master Deed, the share of unit owners in d. Condominium project
the common areas shall be '~~~~

8. The following is not used as a measure of the interest in the common

© Equal share ~,:,~",t.:
'ie,
area by a condo unit owner
b. Based on Floor area of their unit t,!,

c. Based on value oftheir unit a. Equal share

"
d. Based on the number of bedrooms per unit b. Based on Floor area of their unit
-, '"
c. Based on value of their unit
3. In general, it is not considered part of the Master Deed of a (<1» Based on the number of bedrooms per unit
condominium project
9. The following is not part of the Master Deed of a condominium
a. Land on where the project is located project
b. Number of buildings and stories per building
(2) Provision for Management body of the project a. Amenities and facilities per condo building
d. Extent of share in the common areas b. Number of buildings and stories per building
© Condominium house rules and regulations
4. The condominium corporation has a term of existence under the law d. Extent of share in the common areas
for a period up to
10, The condominium corporation formation is required in case
a. As provided in the Articles of Incorporation
b. 50 years a. As provided in the Articles of Incorporation
c. Until dissolved by the HLURB b. At least 60% Filipino ownership
® Coterminous with the life of the project @ At least one foreigner owns a unit
a. Of purely residential condominium units
s. Ownership of foreigners in a townhouse project located in the city is
limited to M
11. Ownership of Filipinos in a residential condominium project, if based
"J on number of units, is limited to a minimum of
C!! 40% of the units
51 % of~ units a. 40% of the units
c. No limit b. 51% of the units
d. 60% of the units c. No limit
60% of the units
6. As proof of ownership of a condominium unit, the owner would have
the best proof as 12. As owner of a condominium unit, the owner would be liable to pay
real estate taxes
~ Condominium Certificate of Title
b. Original Condominium Certificate ~ On the condominium project
c. Transfer Certificate of Title ~ On the taxes on his unit
d. Condominium corporation certification c. On the taxes of the total common areas
d. On taxes assessed by the condominium corporation

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13. The condominium corporation may also be dissolved in a general or 19. Mr. Rodson owned a unit in the Triple Tower. He can sell the unit to
special meeting duly called for the purpose by affirmative vote of anybody unless there is

<J7 All the members of the condominium corporation a. Delinquency imcondominium dues
b. Simple majority of the condominium members Provision for right of first refusal
c. 2/3 vote of the members c. A mortgage on the condominium unit
d. Majority of the members of the condominium Common areas d. An amount of unpaid real estate taxes

14. It is referred to as the space encompassed by the interior surface of the J~ 20. If a unit owner has unpaid assessments, the notice of assessment will
floor, ceiling, walls, and exterior doors and windows, which is be considered a lien on the condominium unit if
susceptible of independent use and ownership
a. A notice of assessment is given to the unit owner
G) Condominium Unit @ A notice of assessment is registered with the Register of Deeds
b. Common Areas c. The delinquency is more than 1 year
c. Condominium Limited common area d. Registered with the city treasurer's office
d. Condominium interior
21. It refers to the weight bearing walls, columns and beams, stairways,
15. If one wanted to find out what his interest or share is in the common halls, elevators, etc. including the electrical, water and plumbing
areas, it may be found in the following document systems and amenities in a condominium project

:) Master Deed ~) Common Areas

b. Condominium Rules and Regulations Condominium Building
c. Deed of Restrictions c. Condominium Structure
d. Tax Declaration of the condominium unit d. Vertical building

16. A condominium corporation is important as it will be the management 22. A buyer failed to pay his instalment payments after paying 4 years for
body of the condominium project and more importantly, will also a 1 bedroom residential condominium unit on a 10 year instalment
payment. What will be his percentage refund under the Maceda law
a. Collect the dues from the unit owners
\.QJ Hold title to the land of the condominium project a. 0%
c. Pay for the realty taxes of the unit owner (050%
d. Pay for the insurance of the separate units c. 40%
d. 100%
17. A unit owner does not have the following right as a condominium unit
owner 23. Allison sold his 3 bedroom condo unit to a buyer. To register the sale
he must get from the condominium corporation this document
8....t To lease the unit
.Q) To pay for share in insurance of the condo project a. Clearance for condominium dues
c. To sell the condominium unit b. Certificate of transfer
d. To mortgage his own unit c. Certificate of ownership
SCertificate 'of management
18. The ABC Condo Residences, a mixed use condo project, wanted to
amend the master deed. In such case the majority vote shall be based 24. In buying a condominium unit, it is highly recommended that the
on buyer get this most important document to have full knowledge of the
project
a. Per unit ownership
b. Per unit value ~ Deed of Restrictions
c) Per unit floor area ~ Master Deed
Per unit no. of occupants c. Articles of Incorporation of condominium corporation
d. House rules and regulations

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 25. A part of the condomin.ium project which are not subject to the
exclusive use of anyone or group of owners 31, The condominium corporation may be dissolved if the project has
been in existence in excess of 50 years, that it is obsolete and that
a. Common areas
® General common area
members of the corporation are opposed to the repair or restoration or
remodeling or modernizing of the project to the extent of more than
c. Limited common areas
d. Divided common area a. 30% of the members
"

,® 50% of the members

26. Once a buyer is now the owner of a condominium unit, the law more c. 2/3 of all members
appropriate covering his ownership and rights as a unit owner is d. 51% of the members
@ The Condominium Act .::~ "
32. A residential condominium corporation shall not during its existence,
b. Subdivision and Condominium Buyers' Protective Decree "
1-" '

sell or otherwise dispose of the common areas owned or held by it in

c. The Realty Installment Buyer's Protective Act
the condominium project unless authorized by the affirmative vote of a
d. Property Registration Decree ,."t',"
"''''ii
@ Simple majority ofthe registered owners
27. These are areas allocated to the exclusive use of a condominium unit b. 2/3 of the registered owners
owner like a parking space c. 51% of the registered owners
a. Cornmon Area d. All of the registered owners
® Limited cornmon area
33. An obligation to the condominium corporation of a unit owner
c. Exclusive cornmon area
d. Assigned parking space @ Comply with use restrictions
.~.
b. Sell the unit
28. A condomin.ium corporation must be organized for the condominium J~-:1
c. Repaint the unit
project if d. Pay the realty taxes on his unit
a. No property manager will be hired ::.,~ '.
CD Units will be sold to foreigners .'~
'1f~,
"
'1: '.
34. Louie bought a 2 BR condo unit but after 4 years, the project has not
been completed beyond completion date. He may ask for a refund of
c. The unit owners agree by simple majority
Jt . the total amount paid including
d. The developer deems it necessary
~l
~(
.:~. a. amortization interests but including delinquency interests
29, In case of any amendment, the approved amendment of the ''[;
b. amortization interests including delinquency interests, with
condominium in Baguio City shall be submitted for approval to the
~''''" interest thereon at the legal rate
Housing and Land Use Regulatory Board and the
:L~ c. amortization interests, with interest thereon at the legal rate
(5) City engineer QJ amortization interests but excluding delinquency interests, with
0. Municipal engineer interest thereon at the legal rate
c. HLURB
d. Majority of the un.it owners 35. The condominium corporation may integrate the project with another
upon the affirmative vote of a simple majority of the registered
30. A partition by sale may be made provided that damage or destruction owners, subject only to the final approval of
to the project has rendered one-half or more of the units therein
a City engineer
untenantable and that condominium owners with common interest are
opposed to repair is more than (bJ HLURB

(9
15.
30% interest
50% interest
d.
Municipal engineer
Local government unit

c. 70% interest
d. 100% interest

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36. The HLURB may issue a temporary license to sell to a condominium 42. Under the REIT, it refers to a professional administrator of real
developer which will be valid for properties who is engaged by the REIT to provide property
management services, lease management services, marketing services,
a. 3 months
project management services, including rent collection
CP 6months
c. 1 year a. REIT Administrator
d. 2· years b. Fund Manager
. (2) Property Manager
37. For a farmlot subdivision, the minimum lot area for a farmlot is
d. Property administrator
a. 400 sqrns.
b. 500 sqrns. 43. A REIT must distribute annually to its shareholders its distributable
/' Q, 750 sqrns. income to the extent of at least
1,000 sqms, a. 50%
b. 75%
38. Mr. Calix bought a farmlot in Batangas where he intends to retire. He
~ 90%
may only build on the lot up to a maximum of what percentage of the ~ 100%
total lot

a. 20% {F 44. A REIT which owns land can only have foreign ownership up to
25% G) 40%
c. 30% b. 50%
d. 50% c. 75%
d. 60%
39. Under the REIT law, a "Constitutive Document" means
a:~ Articles of incorporation of the REIT 45. Under the REIT law, a REIT must be a public company and to be
Approved plan of the REIT considered as such, a REIT, must have at least how many public
c. Ownership documents of the REIT {'~'I
shareholders
d. Shares of the stock of the REIT ~i a. 60
,tl
l'!: b. 100
40. It refers to the person responsible for the allocation of the deposited
c. 500
property to the allowable investment outlets and selection of income -
generating real estate for the REIT
® 1,000

a. REIT Board of Directors 46. In order for the investor group of Mr. Ang to form a REIT, it must
C!5 Fund Manager
have a minimum paid - up capital of
c. Property Manager a. P 100,000,000.00
d. Investment Manager b. P 1,000,000,000.00
41. c. P 500,000,000.00
It is a stock corporation established under the Corporation Code of the
Philippines and those promulgated by the Commission principally for
(0 P 300,000,000.00
the purpose of owning income - generating real estate assets 47. Income payments to a REIT, for example, rentals, shall be subject to a
OReal Estate Investment Trust lower creditable withholding tax of
b. Real estate trust (01%
c. Real estate investment corporation b. 2%
d. Real estate trust investment c. 3%
d. 4%

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48. The fund manager of the .REIT must have a minimum paid - up
capital" stock or assigned capital of
54. In case of a buyer on financing of a residential condominium unit who
a. P 5,000,000.00 now owns the unit, the primary law that the buyer must refer to as
o}:Ynershould be
P 10,000,000.00
c. P 50,000,000.00 Gb Condominium Act
d. P 100,000,000.00 b. Subdivision and Condominium Buyer's Protective Decree
c. Maceda Law
49. Cash or property dividends paid by a REIT shall be subject to a final d. National Building Code
tax of *1'
55. A person who buys two I-bedroom condominium units adjacent to
a. 5% ..•.. each other within a 12 month period this year shall be subject to VAT
(]) 10% if the total exceeds
c. 15%
d. 20% a. P 1,500,000
b. P 2,500,000
50. Mario wanted to invest in the REIT and he may make an investment in C0 P 3,199,200
the REIT by way of d. Pl,9l9,500

OJ) Subscription to shares of stock 56. It is issued by the HLURB in order that the developer of a
b. Initial investment ofP50,000.00 condominium project may start selling units, pending other
c. Purchase of condo unit being rented by REIT requirements and to assess the market viability of the project
d. Direct infusion of capital to the REIT
a. Certificate of registration
51. A developer wants to build townhouses but would like build a b. License to sell
condominium project instead. Such development would be called CC) Temporary license to sell
d. Interim license to sell
'it.' Townhouse subdivision
b. Condominium project 57. For a farmlot subdivision, the rules provide that a farmlot should have
ct) Townhouse project a minimum size of
d. Townhouse condominium
a. 500 sqrns.
52. The rights of a buyer of a condominium unit, when he fails to pay the r11) 750 sqrns.
monthly installments under the contract to sell shall be governed by \. 1,000 sqrns.
d. 1,500 sqrns.
a. PD 957
C[? RA 6552 58. A structure, either freestanding or part of another building, containing
c. HLURB Rules of Procedure niches for the inurnment of cremated human remains
d. Financing Act
a. Memorial park
53. The Master Deed of a mixed use condominium would not include the b. Niche
c. Mausoleum
following provision

a. Land on which it is built

G columbarium

b. Extent of common area interest

g Provision for maintenance and insurance
Number of buildings to be built

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59. Condario wanted to stop payment of his monthly amortizations for a 65. Per HLURB Administrative Order No.2" Series of 1992, the
studio condo unit since the project has not been completed but it is minimum plot size for an industrial estate is
required that he must
(?J 500 square meters
a. Update his monthly payments y. 750 square meters
b. Inform HLURB c. 1,000 square meters
c. Have paid at least 24 monthly installments d. 1,500 square meters
Give due notice to the developer
66. An allocated lot in an industrial subdivision is also referred to as
60. A condo unit owner does not have the following right

a.

c.
To lease out his unit
cD To paint the exterior walls of the unit
Exclusive easement of the air in the unit
~I ~
a.

c.
d.
Industrial lot
Factory plot
Subdivision lot
Manufacturing lot
d. Use of the common areas
67. As defined in the rules of HLURB, it means an interment space for the
6l. When it is provided that the unit to be sold must first be offered to the bones of the deceased
existing unit owners, it is referred to as
a. Coffin
a. Option (b) Ossuary
cVRight of first refusal c. Columbarium
c. Right of offer d. Urn
d. Right to refuse
68. An amount collected by the developer of a columbarium project for
62. The ashes resulting from the cremation of a dead body il the maintenance and upkeep of the project separate from the contract
price
a. Remains
~
I.

~ a. Value added tax

(f) Cremains ~
c. Ash remains ·
~~
Cb';) Perpetual care fund
d. Urn
·•
t
1
c.
d.
Maintenance fund
Columbarium association dues
63. The maximum buildable area on a farmlot as per HLURB rules and
regulations shall not exceed 69. The minimum burial plot size for ground interment as per HLURB
it
rules is
a. 10% ., a. 1mx 1m
b. 20% '~, b. 1m x l.5m
(J.) 25% 4 (c) 1mx 2.44 m
d. 50% d. 1mx3.0m
64. It means the placing of cremated remains in an urn in a columbarium
70. The minimum plot size for a mausoleum under the rules for memorial
a. Interment parks is
(~) Inumment
c. Burial a. 3mx3m
d. Exhumation b. 3mx4m
C:J 4mx5m
a. 5mx 5m

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