Set Five

SET FIVE
1. The independent right of a person to the exclusive enjoyment and control of property
including its disposition and recovery subject only to the restrictions established by law and
rights of other.
a. Possession b. ownership c. Sole ownership d. proprietorship
_____ 2-3. A property may mean
a. Physical tangible or corporeal object c. House, Lot, and patent
b. Absolute ownership d. Property right
_____ 3. A property may mean
a. House, Lot, and patent c. Physical tangible or corporeal object
b. Absolute ownership d. Intangible object
_____23. Fee Simple consists of the so-called
a. Bundle of rights c. Fiduciary Relationship
b. Corporeal d. Trust
_____24. Combination of sole and co-ownership
a. Co-ownership c. Condominium ownership
b. Diverse ownership d. Sole ownership
_____25. Benefits are in proportion to the co-owners; primary property interest is undivided
_____26. Benefits are assorted into different kinds; the primary property rights in the entity do
not constitute the whole property interest.
_____27. Benefits and property interest are undivided; “ whole property undivided.”
_____28. The right of the owner to use and control the air space over his land subject to the
requirements of aerial navigation, or contract.
a. Land c. Air Right or Supra surface
b. Air d. Surface and Subsurface
_____29. A generic word that means proof evidence, or muniment of ownership.
a. Title c. Award
b. TCT d. Certificate of award
_____30. Spontaneous product (fruit) of the soil.
a. Industrial b. Natural
b. Civil d. Legal
_____31. A conveyance of public land by government to a private individual
a. Adverse Possession c. Accretion
b. Public Grant d. Acquisitive Prescription
_____ 32. The right of an owner entitle him to construct thereon any works or make any plantations and
excavations without detriment to servitudes and special laws.
a. Land c. Air Right or Supra surface
b. Air d. Surface and Subsurface
_____ 33. The rental income of building and/or lands
a. Industrial fruit b. Natural fruit
b. Civil fruit d. Legal fruit
_____ 34. Must be in open, continuous, exclusive, and notorious possession
a. Adverse Possession or Acquisitive Prescription c. Accretion
b. Public Grant d. Inheritance
_____ 35. One mode of acquiring Acquisitive Prescription or Adverse Claim of alienable or disposable
land and if in good faith (uninterrupted possession).
a. 30 years b. 20 years c. 10 years d. 5 years
_____ 36. Another mode of acquiring Acquisitive Prescription or Adverse Claim of alienable or
disposable land if in bad faith (continuous possession).
c. 30 years b. 20 years c. 10 years d. 5 years
_____ 37. Those produce by land cultivation or labor.
a. Industrial fruit b. Natural fruit c. Civil fruit d. Legal fruit
_____ 38. The gradual and imprescriptible deposit of soil or sediment.
a. Adverse Possession or Acquisitive Prescription c. Accretion
_____ 39. The filling of submerged land by deliberate act
a. Reclamation c. Private Grant
_____ 40. It is the voluntary transfer/execution of deed of conveyance or contractual relationship
between two parties or also called consensual.
a. Reclamation c. Private Grant
_____ 41. Such grant is to ameliorate the sad plight of tenant-farmers
a. Emancipation patent or grant/Certificate of Land Ownership (CLOA)
b. Public Grant c. Private Grant d. Inheritance
_____ 42. Acquisition by former Natural Born Filipino citizens is limited to a maximum area for
residential purpose (BP 185).
a. 5000/sqm. urban land and 3 hectares rural land
b. 3000/sqm urban land and 5 hectares rural land
c. 1000/sqm urban land and 1 hectare rural land
_____ 43. Acquisition by former Natural Born Filipino citizens is limited to a maximum area for
business purpose (RA 8179).
a. 5000/sqm. urban land and 3 hectares rural land
b. 3000/sqm urban land and 5 hectares rural land
c. 1000/sqm urban land and 1 hectare rural land
_____ 44. Under the constitution, the following lands classified as agricultural, forest or timber, mineral
and national parks are called
a. Patrimonial land c. Public Domain
b. Sovereign Land d. Alienable Lands
_____ 45. Represents the Philippine Archipelago
a. Land b. Structure c. Trees and Fruits d. Map of the Philippines
_____46.Represents improvement of the land
_____47. The Torrens System of Land Registration is developed in South Australia in 1857 by
a. Sir Robert Torrens b. Sir Rupert Torrens c. Sir Osward Torrens d. Sir Rob torrens
_____48. The system was established in the Philippines on __ upon the effectivity of the LRA (ACT 496).
a. February 3, 1901 b. February 3, 1903 c. February 1, 1903 d. February 1, 1901
_____49. The first title issued in the name of the registered owner by the Register of Deeds by virtue of
judicial or administrative proceeding.
a. Torrens Certificate of Title c. Original Certificate of Title
b. Transfer Certificate of Title d. Reconstituted Certificate of Title
_____50. Title Issued by ROD in favour of the transferee to whom the ownership of the already
registered land had been transferred by virtue of a sale or other modes of conveyance.
_____51. The title issued by the ROD through administrative or judicial procedures, in replacement of
those lost, missing or destroyed.
_____ 52. Judicial procedure of titling of land to OCT is through
a. Extrajudicial proceeding c. Court proceeding
b. Judicial proceeding d. Legal proceeeding
_____ 53. Another procedure of titling through out-of-court proceeding is
a. Extrajudicial proceeding c. Court proceeding
b. Judicial proceeding d. Legal proceeeding
_____54. It is a charge, claim, or liability on real estate
a. Encumbrance b. Mortgage c. Restrictions d. Loan
_____55. Represents agricultural produce
_____56. Represents Environment and Ecology
a. Gold b. Green Color c. Green Lines d. Red, White, Blue, Yellow
_____57. Unauthorized physical intrusions of a building or other form of real property onto an adjoining
property.
a. Easement b. Encroachment c. Liens d. Deed of Restrictions
_____58. The right to use someone’s land
a. Easement b. Servient estate c. Dominant estate d. Deed of Restrictions
_____59. Die right-of way of easement.
_____60. CPD providers must submit a completion report within
a. 3 years b. 1 year c. 30 days d. 15 days
_____61. Such accreditation for CPD providers is valid for
a. 3 years b. 1 year c. 30 days d. 15 days
_____62. The parcel of land that benefits from the easement
_____63. Conditions of limitations placed in a deed by the owner when property is transferred to
another party.
_____64. Claims or charges against the property to provide security for a debt or obligation.
_____65. Reconstitution of lost, missing or destroyed title, under judicial procedure, the prescribed law
used are
a. RA 26 (OLD LAW; RA 6732 (NEW LAW) c. RA 25 (OLD LAW; RA 6734 (NEW LAW)
b. RA 26742 (OLD LAW; RA26 (NEW LAW) d. RA 26732 (OLD LAW; RA 25 (NEW LAW)
_____66. Reconstitution of lost, missing or destroyed title, under administrative procedure is when
a. At least 10% of all titles in that branch of ROD or total number is not less than 500 titles
b. At least 20% of all titles in that branch of ROD or total number is not less than 500 titles
c. At least 10% of all titles in that branch of ROD or total number is not less than 250 titles
_____ 67. Segregation survey
a. Rs b. Rel c.Swo d. Sgs
_____ 68. Bureau of Lands Location and Monument
a. BLBM b. BLLM c. BBM d. BLM
_____ 69. Value of the assessor for the property based on classification and as shown in the tax
declaration; being used in local taxes like realty tax, special education fund tax and
idle land tax.
a. Market value(assessor) b. Assessed value( assessor) c. Zonal value (assessor).
_____ 70. Taxable value; basis of realty tax
a. Market value(assessor) b. Assessed value( assessor) c. Zonal value (assessor)
_____ 71. Assigned values for the lots and condominium units (no ZV for houses)
a. BIR market value b. BIR zonal value c. BIR taxable value or tax base
_____ 72. Usually zonal value for the lot + tax declaration value for improvement is called
a. BIR market value b. BIR zonal value c. BIR taxable value or tax
_____ 73. Exchange value or objective value; most likely value in case of sale
a. Book value b. Capitalized value c. Loan Value d. Market value (appraiser)
_____ 74. Appraised value of property x loan value ratio – based on capacity to pay.
_____ 75. National Government Property Lease
a. Ngl b. Ngs c. Ngpl d. Ngsl
_____ 76. Relocation Survey C
a. Rs b. Rls c. Rel d. Prs
_____ 78. Value arrived in income approach = net operating income / cap rate
_____ 79. The value of the property as appearing in the books of accounts (asset account).
_____ 80. Property should be appraised in cash value or its equivalent; it is market value.
a. Estate tax value b. value in use c. value in exchange d. cash value
_____ 81. Value of estate at die time of death
_____ 82. Market value or objective value
_____ 83. Monumental Location Survey
a. Mbm b. Ml c. Ms d. Mls
_____ 84. Miscellaneous Sales Applications, Individual
a. Mci b. Ms c. Msai d. Ms
_____ 85. Private Survey
a. Psd b. Ps c. Psu d. Pcs
_____ 86. Increase in value when two or more parcels are combined into one property.
a. Rental value b. Plottage value c. Investment value d. Cost value
_____ 87. An estimate derived from cost actually paid to bring a property into being.
_____ 88. The value of an existing established business property compared with the value of
selling the real estate and other assets of a concern whose business is not yet
established.
a. Liquidation value b. Salvage value c. Going concern value d. Insurable value
_____ 89. The highest reasonable value that can be placed on property for insurance purpose.
_____ 90. Value which is below market value.
_____ 91. Private Subdivision Survey
a. Psd b. Ps c. Psu d. Pcs
_____ 92. Bureau of Lands Barrio Monumnet
a. BLM b. BLLM c. BBM d. BLBM
_____ 93. The amount that may be recovered minus cost of disposal when the asset will be
retired of disposed at a future time.
a. Liquidation value b. Salvage value c. Scrap value d. Insurable value
_____ 94. Value of material recovered from a depreciated value.
a. Liquidation value b. Salvage value c. Scrap Value d. Insurable value
_____ 95. Under Approaches of Value, Market Data or Sales Comparison is an
a. Application of the principle of substitution. It is based on the assumption that no prudent
buyer will pay more than what will cost him to acquire an equally desirable property.
b. The value of improvement comparable to the value of land
c. The system or principle of valuation
_____ 96. The following are general steps on approaches to value using market data or
comparative approach
a. Research on market data
b. Validate data by ocular inspection to determine physical attributes of the comparatives.
c. Apply adjustment factors
d. Estimate indicated value
e. All of the above
_____ 97. One general step in approaches to value is to research on market data from the
following EXCEPT
a. registered sales, fellow brokers and appraisers
b. advertisements (buy and sell, newspapers, properties with for sale sign
c. government acquired assets
d. internet, bank acquired assets
_____ 98. Another general step in approaches to value is to apply adjustment factors such as
EXCEPT
a. Physical factors (area, shape, elevation, terrain, soil quality)
b. Economic character (location, neighborhood, corner influence)
c. Utility (potential legal use)
d. Time element (value increases because of time)
e. Value ( assessment, improvement, and increase in market value)
_____ 99. EXCEPT ONE, Some of the commonly underpriced sale are:
a. transactions between relatives
b. involving foreclosures
c. as a consequence of expropriation
d. Obsolescence
_____100. They are manifestations of buyers and sellers reaction in the open market and not
appraiser’s invention and is not fixed rate.
a. Adjustment b. Value c. Cost d. Agreement
_____101. This approach uses the application of the principle of substitution (reproduction cost;
replacement cost).
a. Sales Comparison Approach b. Market Data Approach c. Cost Approach
_____102. Miscellaneous Sales Applications, Corporation
a. Mci b. Misc c. Msai d. Ms
_____103. Private Consolidation Survey
a. Psd b. Ps c. Psu d. Pcn
_____104. An estimate reflecting die amount agreed upon for maximum indemnification for a
particular type of loss.
a. Insured Value b. Economic value c. Just compensation or condemnation value.
_____105. An estimate arrived at for property taken according to laws governing the taking.
a. Cost Value b. Economic value c. Just compensation or condemnation value.
_____106. An estimate based on the market place, in which primary considerations has been
given to scarcity (supply), utility (demand), and futurity (future benefits).
a. Cost Value b. Economic value c. Just compensation or condemnation value.
_____107. The price fixed for the right to use a certain property for a specific period of time.
_____108. The worth of investment property to specific investor
_____109. Private Consolidation-Subdivision Survey
a. Psd b. Ps c. Pcs d. Psu
_____110. National Government Property Lease
a. Ngl b. Ngs c. Ngps d. Ngp
and residential properties with unique or highly individualized structures.
a. Sales Comparison Approach b. Market Data Approach c. Cost Approach C
_____111. Appraisal of new proposed construction representing the highest and best use of the
land.
a. Cost Approach b. Reproduction Cost c. Replacement Cost
_____112. Steps in Cost Approach valuation
a. i. Estimate the value of land as if vacant
ii. Estimate the present reproduction cost of the improvement
iii. Estimate the depreciation from all causes
b. i. the cost of constructing an exact replica of the improvement being
appraised at current price of labor and materials and contractor’s prices
ii. identical in design
c. i. The cost of constructing a similar property which is equally desirable and has the
same utility as the one under appraisal
ii. Identical in utility
_____113. Replacement Cost means
_____114. Reproduction Cost means
iv. Deduct estimate depreciation from present reproduction cost to arrive at indicated
value of improvement
v. Add land improvement values to develop indicated property value
_____115. This is similar to a contractor’s procedure of determining the quality and grade of
each type of materials used, estimating labor required, and applying the unit cost to
the materials and labor quantities.
a. Quantity Survey Method b. Unit-in-Place Method c. Per square Meter Method
_____116. National Government Property Sale
a. Ngl b. Ngs c. Ngps d. Ngp
_____117. Resurvey
a. Rel b. Rls c. Rs d. Prs
_____118. This is the mathematical compression of the quantity survey method and is based on
the use of installed prices for the various building parts, using units convenient to
employ.
a. Quantity Survey Method b. Per square Meter c. Unit-in-Place Method
_____119. Estimates are reached by dividing the total building cost of similar structure by the
total floor area.
a. Quantity Survey Method b. Per square Meter c. Unit-in-Place Method
_____120. It represents a loss from the upper limit of value.
a. Appreciation b. Capitalization c. Depreciation d. Obsolescence
_____121. Due to wear and tear
a. Physical depreciation b. Functional Obsolescence c. Economic Obsolescence
_____122. Loss in value from environmental or external causes; also called externalities.
i.e. squatters
a. Physical depreciation b. Functional Obsolescence c. Economic Obsolescence
_____123. Verification Survey
a. Rel b. Rls c. Vrs d. Vs
_____124. Homestead Applications
a. Hsa b. H c. Ha d. Hs
_____125. Provincial Boundary Monument
a. PB b. PBn c. PBM d. PBm
_____126. The income less allowance for vacancies and non-collection.
a. Remaining economic life b. Contract rent c. Economic rent d.Effective gross income
_____127. The potential rental that a property can command, taking into account the rate of
nearby or comparable properties. Also called market rent.
a. Remaining economic life
b. Contract rent
c. Economic rent
d. Effective gross income
_____128. The following are Basic Investment Principles where an investor in income or
commercial property expects to receive the following:
a. i. Assumes no termination of income- Capitalization inperpetuity
ii. Assumes that an improvement, which is a wasting asset, will have certain economic life-
Capitalization for a definite period.
b. i. Rate of interest on that part of investment represented by land
ii. Rate of interest on that part of investment represented by improvement
iii. Receive back in installments that part of investment that wears out in the course of
time – improvement.
c. i. Development of operating statement to arrive at annual net injcome
ii. Selection of interest rate
iii. Capitalization process
_____129. The following are Basic Principles of Capitalization
iii. Receive back in installments that part of investment that wears out in the course of time
– improvement.
c. i. Development of operating statement to arrive at annual net income
_____130. The following are Steps in Income Approach
iii. Receive back in installments that part of investment that wears out in the course of time
– improvement.
c. i. Development of operating statement to arrive at annual net injcome
_____131. Barrio Boundary Monument
a. BBM b. BB c. BM d. bbm
_____132. Municipal Boundary Monument
a. MM b. MBn c. MB d. MBM
_____133. Excluded in the purposes of appraisal
a. foreclosure b. Eminent Domain c. Extrajudicial settlement d.Property disputes
a. Inheritance/Partitioning of Estate b.Options/right to renew/to buy c. Rights
a. Urban Renewal b. Rural Renewal c. Corporeal Realty-mergers, etc
_____136. HSM means
a. House Specification Mgmt. b. House Sales Mgmt. c. House System Mgmt.
_____137. FOM
a. Fill-out Management b. Fully-owned Mgmt. c. Full ownership mgmt..
_____138. Subdivision and Condominium Buyer’s Protective Decree (As amended by PD 1216).
a. P.D. 1344 b. E.O. 71 c. R.A. 7279 d. P.D. 957
_____139. Realty Instalment Buyer Protection Act (Maceda Law).
a. RA 6552 b. E.O. 71 c. R.A. 7279 d. P.D. 957
_____140. Defining “Open Space” in Residential subdivision ad amending Sec. 31 PD 957, requiring
subdivision owners to provide roads, alleys, sidewalks and reserve open space for parks and
recreational use.
a. P.D. 1344 b. P.D. 1216 c. R.A. 7279 d. R.A. 7899
_____111. Urban Development and Housing Act (Lina Law) – urban development housing program
a. P.D. 1344 b. E.O. 71 c. R.A. 7279 d. P.D. 957
_____142. Authorizing the Ministry of Human Settlements to establish and promulgate different level of
standards and technical requirements for economic and socialized housing projects.
a. B.P. 220 b. E.O. 184 c. R.A. 4726 d. R.A. 7899
_____143. Devolution of DSHUD’s function to approve subdivision plans to LGUs.
a. P.D. 1344 b. E.O. 71 c. E.O. 184 d. P.D.1344
_____144. Amending sections 4 and 6 of R.A. 4726
a. B.P. 220 b. E.O. 184 c. R.A. 4726 d. R.A. 7899
_____145. Condominium Act – to define condominium, establish requirements
a. B.P. 220 b. E.O. 184 c. R.A. 4726 d. R.A. 7899
_____146.Creating socialized housing one-stop processing centers.
a. E.O. 71 b. E.O. 184 c. R.A. 4726 d. R.A. 7899
_____147. Empowering NHA to issue writ of execution in enforcing its decisions under PD 957
a. P.D. 1344 b. E.O. 71 c. R.A. 7279 d. P.D. 957
_____148. A project in which several groups partner together to undertake the project
a. Consolidation b. Joint Ventures c. Corporation d. Association
_____149. The following are advantages of JV’s for landowner/s EXCEPT
a. Higher financial return c. Flexibility in realization of earnings
b. Short period to monetize d. No need to gain experience or know-how
_____150. Except one, the following are disadvantages of JV to the landowner
a. Lower financial return c. Longer waiting period to monetize
b. Higher risk than outright sale d. Development can fail

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