MOCK EXAMINATIONS FROM GLOSSARY

PROPERTY OWNERSHIP

1. The voluntary surrender of property rights, with no intention of reclaiming them and without vesting interest in
another person. Non-use is not necessarily abandonment.
a. abandonment b. reconveyance c. waiver d. quit claim

2. A history of the ownership of a property, showing transfers in ownership and factors affecting ownership, such
as mortgages.
a. title transfers b. abstract of title c. muniments of title d. history of title

3. A person whose property abuts a river and entitled to accretion.

a. freehold owner b. riparian owner c. fee simple owner d. untitled owner

4. Acquisition of title to additional improvements to real property as a result of annexation of fixtures or of

accretion of alluvial deposits. Annexation can be natural like trees and plants or artificial like fixtures.
a. accretion b. addition c. accession d. alluvium

5. An increase in dry land by gradual deposit of waterborne and solid material. It is the process of adding
imperceptible deposits through the current of waters.
a. accretion b. addition c. accession d. alluvium

6. An instrument by which the government conveys public land to an individual.

a. deed of conveyance b. patent c. award d. decree

7. Sand, clay or mud deposited as sediment on riparian land by the process of accretion.
a. alluvium b. real estate c. riparian deposit d. sedimentary deposit

8. A person appointed by the court to manage and settle the estate of a deceased person who has left no will.
a. administrator b. attorney in fact c. sheriff d. clerk of court

9. Acquisition of title to real property owned by government by open, notorious, and continuous possession for
the statutory period of time. Burden to prove title is on the possessor, who does not have a marketable title until
he obtains and records a judicial decree quieting title. Prescriptive period for bad faith is 30 years under Public
Land Act of 1936 or CA141.
a. accession b. free patent c. adverse possession d. possession in good faith

10. Tangible and intangible benefits generated and received through exercise of rights to real property, not
necessarily in the form of money.
a. appurtenance b. accessory c. bundle of rights d. amenities

11. Something annexed to another principal thing and which passes as incident to it, for example a right of way
with a principal property.
a. amenities b. appurtenance c. accessory d. bundle of rights

12. A person who dies having made no will, or one defective in form; in which case, his estate descends to his
heirs at law or next of kin.
a. intestate b. testate c. inheritance d. devise

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 1

13. Beneficial interests or rights which attach to the ownership of real property, including the right to sell, lease,
encumber, use, enjoy, exclude, will, etc. When purchasing real estate, one actually buys the rights previously held
by the seller, except those which are reserved or limited in the sale.
a. fee simple b. bundle of rights c. right to own d. right to posses

14. "Let the buyer beware" in Latin. Summarizes the rule that the buyer must examine, judge and test
merchandise/property for himself.
a. tacitareconducta b. caveat emptor c. res nullius d. due diligence

15. In real property law, the process by which property of a private owner is taken for public use, with just
compensation to the owner.
a. eminent domain b. police power c. expropriation d. appropriation

16. A transfer of real property under a will. The donor is the devisor and the recipient is the devisee. Where there
is no will, the real property "descends" to the heirs.
a. devise b. descent c. intestate d. probate of will

17. A privilege or right which the owner of one parcel of land may have to use or enjoy the lands of another, like
right of way.
a. appurtenance b. easement c. setback d. prescription

18. A form of action to regain possession of real property, with damages for the unlawful retention.
a. ejectment b. decree of possession c. right to possess d. right to vindicate

19. Trespass; the building of a structure or any improvements partly or wholly intruding upon the property of
another.
a. infiltration b. squatting c. trespassing d. encroachment

20. Any claim, lien, charge or liability attached to and binding upon real property which may lessen the value of
the property but will not necessarily prevent transfer of title.
a. appurtenance b. encumbrance c. mortgage lien d. adverse lien

21. Wearing away land through processes of nature, for example by streams and wind.
a. avulsion b. erosion c. accretion d. alluvium

22. The reverting of property to the State by reason of failure of person legally entitled to hold or when heirs
capable of inheriting are lacking.
a. Regalian Doctrine of ownership c. escheat
b. Stewardship concept of ownership d. expropriation

23. A legal doctrine which prevents one from asserting rights that are inconsistent with a previous position or
representation.
a. delay b. laches c. estoppel d. lapses

24. A chattel which is affixed to and becomes a part of real property.

a. personal property b. chattel c. fixture d. trade fixture

25. When applied to property, an inheritable estate in land.

a. real property b. estate c. fee d. bundle of rights

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 2

26. The most comprehensive ownership of real property known to law; the largest bundle of ownership rights
possible in real estate.
a. bundle of rights b. right of ownership c. accession right d. fee simple

27. A public notice, filed against specific lands, that an action at law is pending that may affect the title to the land.
a. adverse claim b. title lien c. encumbrance d. lispendens

28. The right of an owner of land with a shoreline contiguous to a sea or lake to use and enjoy the shore without a
change in its position created by artificial interference.
a. riparian rights b. water rights c. littoral rights d. sea rights

29. A statutory lien to secure payment to materialmen and mechanics for materials and services used to repair,
improve, or maintain real property.
a. contractor’s lien b. mechanic’s lien c. encumbrance d. general lien

REAL ESTATE FINANCING

1. A clause in a promissory note, agreement of sale, or mortgage which gives the lender the right to call all sums
due and payable in advance of the fixed payment date upon the occurrence of a specified event, such as a sale,
default, assignment or further encumbrance of the property
a. acceleration clause c. pactum de non aliendo clause
d. pactumcommissorium clause d. balloon payment

2. Liquidation or gradual retirement of a financial obligation by periodic installments that includes interest.
a. annuity payment c. mortgage installment
b. amortization d. mortgage retirement

3. Last payment on a note. It is usually substantially larger than any of the preceding installments.
a. balloon payment c. acceleration payment
b. note retirement d. final payment

4. Periodic payment on a debt, for interest on and retirement of the principal.

a. loan amortization c. debt service
b. annuity d. loan repayment

5. A sale in form but mortgage in substance

a. Pacto de Retro c. PactumCommissorium
b. Pacto de Non Aliendo d. Dacion en Pago

6. The maximum period for right of redemption for corporations is

a. 1 year if habitually engaged c. 3 months
b. 1 month d. 1 year

7. In a judicial foreclosure, the owner of a property has 3 months before approval of court order to redeem his/her
land.
a. Right of redemption c. Equity of redemption
b. Reglamentary period d. Prescriptive period

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 3

8. It is the study of the production, distribution and consumption of goods and services
a. Geography c. Statistics
b. Accounting d. Economics

9. Where buyers and sellers meet to exchange/trade goods and services with value at negotiated prices
a. Economy c. Industry
b. Market d. Negotiation

10. There are more sellers and few buyers

a. Seller’s market c. Buyer’s market
b. Oligopsony d. Oligopoly

11. The main participants in a real estate market are:

a. Consumers, producers and distributors,
b. Owners, renters, facilitators
c. Distributors, renovators, developers
d. Users, facilitators, managers

12. The following are agents of production except

a. Land c. Labor
b. Purchase power d. Entrepreneurship

13. That value concept that states that human labor is the sole creator of value
a. Social theory of Mill c. Labor theory of Marx
b. Cost theory of Adam Smith d. Scarcity theory of Malthus

14. That value concept that states that land value increases indefinitely
a. Social theory of Mill c. Labor theory of Marx
b. Cost theory of Adam Smith d. Scarcity theory of Malthus

LEGAL ASPECT: SALES, LEASES AND MORTGAGES, CONTRACTS

1. A mortgage containing a clause that permits the mortgagor to borrow money after the loan has been reduced
without rewriting the mortgage.

a. pactumcommissorium c. closed mortgage

b. pactum de non aliendo d. open-end mortgage

2. That which is unenforceable; having no force or effect.

a. void b. null
b. voidable d. rescindable

3. That which is capable of being adjudged void but is not void unless action is taken to make it so.
a. void b. unenforceable
b. voidable d. rescindable

4. Any lien placed upon property with consent of, or as a result of, the voluntary act of the owner.
a. mortgage b. encumbrance
b. voluntary encumbrance d. voluntary lien

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 4

5. The voluntary transfer of real property from one person to another.
a. contract of sale c. deed
b. alienation d. conveyance

6. The legal process of seizing the real or personal property of a defendant in a law suit, by levy or judicial order,
and holding it in the custody of the court as security for satisfaction of the judgment.
a. attachment c. distraint
d. foreclosure d. levy

7. A lien imposed against property without consent of the owner; example: unpaid realty tax, estate tax,
mechanics lien
a. mortgage lien c. involuntary lien
b. compulsory lien d. statutory lien

8. A lien placed upon property after a previous lien has been made and recorded.
a. first mortgage c. junior lien
b. mechanics lien d. statutory lien

9. A single mortgage which covers more than one piece of real estate.
a. blanket mortgage c. open-end mortgage
b. multiple mortgage d. antichresis

10. Violation of any of the terms or conditions of a contract without legal excuse.
a. voidable contract c. void contract
b. breach of contract d. unenforceable contract

11. A contract whereby the owner retains title to the property until the purchaser has met all of the terms and
conditions of the contract.
a. conditional deed of sale c. contract of sale
b. conditional sale contract d. option contract

12. The transfer of title to real property by means of a written instrument, such as a deed.
a. conveyance c. assignment
b. transfer of right d. contract

13. A legal instrument in writing, duly executed, sealed, and delivered, whereby the owner of real property
(grantor) conveys to another (grantee) some right, title, or interest in real estate.
a. deed c. sale
b. assignment d. contract

14. Failure to perform a specific, required legal duty. Example is non-payment of loan amortizations.
a. default c. arrears
b. breach of contract d. foreclosure

15. At a judicial foreclosure sale, the difference between the indebtedness sued upon and the sale price of the
real estate.
a. deficiency judgment c. equitable judgment
b. unearned increment d. refund

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 5

16. Forcing action or inaction against a person's will.
a. foreclosure c. duress
b. involuntary alienation d. judgement

17. The "to have and to hold" clause which defines or limits the quantity of the estate granted in the deed.
a. habendum clause b. pactumcommissorium
b. pactum de non aliendo d. tacitareconducta

18. Procedure whereby property pledged as security for a debt is sold to pay the debt in event of default in
payments or terms.
a. forfeiture c. redemption
b. foreclosure d. auction

19. Loss of money, property, or the right to property by failure to act or by negligent or improper action.
a. forfeit c. foreclose
b. depreciation d. laches

APPRAISAL

1. The act or process of estimating and giving an opinion on value

a. appraisal c. valuation
b. cost estimation d. market value

2. The difference between the present worth of improvements and the reproduction or replacement cost new,
both measured on the appraisal date.
a. accrued depreciation b. book depreciation
b. deferred maintenance d. unearned increment

3. A written estimate and opinion of value; a conclusion resulting from the analysis of facts.
a. appraisal c. valuation
b. cost estimation d. market value

4. In appraising, the process of converting net income to value of the property.

a. valuation c. capitalization
b. appraisal d. discounting

5. The rate used in converting income to value sometimes called overall rate.
a. capitalization rate c. recapture rate
b. interest rate d. investment rate

6. Loss in the value of a property from all sources

a. functional obsolescence c. economic obsolescence
b. depreciation d. physical wear and tear

7. A loss in value due toimpairment of desirability or useful life arising from the changes in optimum land use, a
legislative enactment which restrict or impair property rights, and changes in supply-demand relationships.
a. functional obsolescence c. economic obsolescence
b. depreciation d. all of the above

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 6

8. Age in years, indicated by the condition and utility of a structure.
a. effective age c. chronological age
b. actual age d. observed age

9. Persons with particular knowledge or skill which enables them to give an opinion on the facts in dispute.
a. commissioner c. lawyer
b. appraiser d. expert witness

10. A loss in value of an improvement due to inadequacies, often caused by age or poor design
a. functional obsolescence c. economic obsolescence
b. depreciation d. all of the above

DOCUMENTATION AND REGISTRATION

1. A formal declaration made before an authorized official by a person executing a document, that he signs the
document by a free act and deed. The official is usually a notary public who witnesses the signature and verifies
the identity of the person.
a. affidavit c. document
b. acknowledgment d. notarial oath

2. A written declaration, sworn before an officer who has authority to administer oaths.
a. acknowledgment c. affidavit
b. notarial oath d. document

3. A person authorized to perform certain acts for another person, under power of attorney.
a. attorney in fact c. representative
b. agent d. administrator

MEASUREMENTS/SITE LOCATION AND MAP READING

1. A natural or manmade fixed object used as a permanent reference point for surveying or to mark land
ownership boundaries.
a. Concrete marker c. tie point
b. location monument d. monument

2. The angle between a reference line,-usually north and south, and a line to an object, measured clockwise from
south in surveying.
a. azimuth c. longitude
b. bearing d. baseline and meridian

3. Established lines used by surveyors to locate and describe land under the rectangular survey method of
property description used in most states
a. baseline and meridian c. tie line
b. azimuth d. bearing

4. The cardinal direction (North, South, East, West) of a line; e.g., N 50 degrees, 30min. West.
a. metes and bounds c. azimuth
b. bearing d. latitude

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 7

5. A mark of known elevation affixed to a permanent reference or monument, such as an iron post or brass
marker, usually embedded in cement or a concrete structure and used to establish elevations over other surveys in
the area.
a. point of beginning c. benchmark
b. reference point d. tie point

6. Public record of the extent, value and ownership of land; land surveying and mapping.
a. land survey c. cadastral
b. patent d. decreed property

7. The science or act of making maps.

a. maptography c. land survey
b. cartography d. photogrametry

8. A line connecting all points of the same elevation on a part of the earth's surface, represented by a continuous
line on a topographic map.
a. tie line c. contour line
b. elevation d. benchmark

9. In surveying, the distance above or below a datum.

a. benchmark c. tie line
b. elevation d. contour line

CONDOMINIUM

1. Fee ownership of a unit in a condominium project with joint ownership of common areas.
a. cooperative c. condominium
b. condominium unit d. fee simple ownership

2. Multi-unit building owned by a corporation, each owner holding stock equal to the value of his apartment. Title
is proprietary lease.
a. cooperative c. Bliss type housing
b. condominium d. Tenement

ENVIRONMENT

1. Evaluation of a proposed construction at a particular site, to determine whether the proposed project is
economically, structurally, and environmentally feasible.
a. engineering feasibility study c. environmental impact assessment
b. environmental assessment d. environmental impact statement

2. A written evaluation, made early in the planning process, of the potential environmental impact of a proposed
action.
a. engineering feasibility study c. environmental impact assessment
b. environmental assessment d. environmental impact statement

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 8

3. Analysis of a proposed action; the basis for deciding whether the proposed action will have a significant impact
on the environment.

a. engineering feasibility study c. environmental impact assessment

b. environmental assessment d. environmental impact statement

4. Identifies and analyzes the anticipated environmental impact of a proposed action, discusses how
adverse effects will be mitigated.
a. engineering feasibility study c. environmental impact assessment
b. environmental assessment d. environmental impact statement

TAXATION – Local and National

1. Assessment level for lands if actually used for:

a. Residential ( a. 10% b. 15% c. 20% d. 50% )
b. Commercial ( a. 40% b. 15% c. 20% d. 50% )
c. Timberland ( a. 40% b. 15% c. 20% d. 50% )
d. Agricultutral ( a. 40% b. 30% c. 20% d. 50% )
e. Mineral ( a. 40% b. 15% c. 20% d. 50% )
f. Industrial ( a. 10% b. 15% c. 20% d. 50% )

2. Assessment level for machineries if actually used for:

a. Residential ( a. 40% b. 40% c. 50% d. 80% )
b. Commercial ( a. 40% b. 60% c. 50% d. 80% )
c. Agricultutral ( a. 40% b. 30% c. 20% d. 50% )
d. Industrial ( a. 10% b. 15% c. 20% d. 80% )

3. Assessment level for special classes if actually used for:

a. Cultural ( a. 10% b. 15% c. 20% d. 50%)
b. Scientific ( a. 10% b. 15% c. 20% d. 50% )
c. Hospital ( a. 10% b. 15% c. 20% d. 50% )
d. Local water district ( a. 10% b. 15% c. 20% d. 50% )

4. Assessment level for building and other structures if actually used for:
a. Residential
i. For assessed value of P175K or less or minimum:
a. 0% b. 5% c.15% d. 20%
ii. Maximum assessment level P10M or more:
1. 20% b. 30% c. 50% d. 60%

b. Commercial or Industrial
i. For assessed value of P175K or less or minimum:
a. 0% b. 10% c.30% d. 50%
ii. Maximum assessment level P10M or more:
1. 50% b. 60% c. 70% d. 80%

5. Maximum Rate per Local Government Code of 1991:

a. Realty tax rate in the province (a. 1% 2. 2% 3. 3% 4. 5%)
b. Realty tax rate in any city in the Phils. (a. 1% 2. 2% 3. 3% 4. 5%)
c. Realty tax rate municipality in M.M. (a. 1% 2. 2% 3. 3% 4. 5%)

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 9

 d. SEF tax in the city (a. 1% 2. 2% 3. 3% 4. 5%)
e. SEF tax in the province (a. 1% 2. 2% 3. 3% 4. 5%)
f. Idle land tax in the city (a. 1% 2. 2% 3. 3% 4. 5%)
g. Idle land tax in the province (a. 1% 2. 2% 3. 3% 4. 5%)
h. Maximum prompt payment discount (a. 5% 2. 10% 3. 15% 4. 20%)
i. Failure to pay on time for realty tax
i. Surcharge per month (a. 0% 2. 1% 3. 1.5% 4. 2%)
ii. Interest per month (a. 0% 2. 1% 3. 1.5% 4. 2%)

j. Transfer tax in the province

Not to exceed _____% of _____% of BIR Tax Base
a. 50% of 1% b. 75% of 2% c. 75% of 1% d. 50% of 2%

k. Transfer tax in the city

Not to exceed _____% of _____% of BIR Tax Base
a. 50% of 1% b. 75% of 2% c. 75% of 1% d. 50% of 2%

l. Transfer tax in the municipality in Metro Manila

Not to exceed _____% of _____% of BIR Tax Base
a. 50% of 1% b. 75% of 2% c. 75% of 1% d. 50% of 2%

m. Failure to pay transfer tax within 60 days from date of sale

i. Surcharge
a. no surcharge interest only
b. 20% per annum
c. 25% per annum
d. 2% per month

ii. Interest per month (a. 0% b. 1% c. 1.5% d. 2%)

n. DST on sale (a. 1% b. 1.5% c. 2% d. 5% )

o. DST on mortgage
a. First P5K at P10.00 and P5.00 for every succeeding P5K and fraction thereof
b. First P10K at P20.00 and P5.00 for every succeeding P5K and fraction thereof
c. First P5K at P20.00 and P5.00 for every succeeding P5K and fraction thereof
d. First P10K at P10.00 and P5.00 for every succeeding P5K and fraction thereof

p. Capital gains tax (a. 1.5% b. 3% c. 5% d. 6% )

q. Capital gains tax if property is sold at a loss : (a. 0% b. 3% c. 5% d. 6% )

r. CWT for developer, habitually engaged in real estate business

For P500K and below a. 5% b. 1.5% c. 2% d. 3%
For over P500K to P2M a. 5% b. 6% c. 2% d. 3%
For over P2M a. 5% b. 6% c. 2% d. 3%

s. CWT of banks acquired assets

a. 5% b. 6% c. 2% d. 3%

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 10

 t. CWT of corporations not habitually engaged in real estate
a. 5% b. 6% c. 2% d. 3%

u. Expanded withholding tax rate if the developer sold a P5M house and lot before VAT at a loss
a. 5% b. not subject c. 6% d. 3%

v. Percentage tax (a. 12% b. 3% c. 5% d. 6% )

w. Value-added tax (a. 12% b. 3% c. 5% d. 6% )

x. Donors tax for the first P100K (a. 0% b. 1% c. 2% d. 3% )

y. Donors tax maximum rate if donee is related to the donor within the 4th degree of consanguinity?
(a. 10% b. 15% c.20% d. 30% )

z. Donors tax maximum rate if donee is a stranger or beyond 4th degree of consanguinity?
(a. 10% b. 15% c.20% d.30% )

aa. Estate Tax : Maximum

i. Maximum rate a. 5% b. 6% c. 15% d. 20%
ii. Standard deduction a. P500K b. P1M c. P2M d. P750K
iii. Medical a. P100K b. P200K c. P500K d. P1M
iv. Funeral a. P100K b. P200K c. P500K d. P1M
v. Family Home a. P500K b. P500K c. P1M d. P2M

6. Considered installment sale if initial payment is _____% or less of selling price

a. 20% b. 25% c. 30% d. 50%

7. Considered deferred payment sale if initial payment is more than____% of selling price
a. 20% b. 25% c. 30% d. 50%

8. Failure to pay on time for BIR tax on sale, donation, exchange, estate tax
a. One time surcharge of:
i. In general (a. 20% 2. 25% 3. 30%% 4. 50%)
ii. Willfull neglect (a. 20% 2. 25% 3. 30%% 4. 50%)
iii. Interest per year (a. 12% 2. 18% 3. 20% 4. 24%)

9. Sale of personal residence maybe exempted in CGT if the proceeds shall be used in another residence.
The requirements are:
a. Written notice to the BIR of the intention to buy within ______days from date of sale;
a. 15 days b. 30days c. 45 days d. 60 days

b. Proof of purchase within ______days from date of purchase;

a. 15 days b. 30days c. 45 days d. 60 days

c. Proceeds of the sale must be used within _______ from date of sale;
a. 30 days b. 3 months c. 12 months d. 18 months

d. The privilege can only be availed once in every _______ years.

a. 2 years b.5 years c. 8 years d. 10 years

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 11

 10. Value Added Tax
a. Effective Jan. 1, 2012, real estate developers are exempted in paying VAT for the sale of lot in
the ordinary course of their business if the selling price before VAT does not exceed :
a. P1,500,000.00 b. P1,919,200.00 c. P1,919,500.00 d. P2M

b. Real estate developers are exempted in paying VAT for the sale of house and lot in the ordinary
course of their business if the selling price does not exceed :
a. P2M b. P2.5M c. P3,919,200.00 d. P3,199,200.00

c. Real estate developers are exempted in paying VAT for the sale of residential condominium in
the ordinary course of their business if the selling price does not exceed :
a. P1.5M b. P2.5M c. P3,919,200.00 d. P3,199,200.00

11. The rate of capital gains tax for shares of stocks not traded in the stock exchange on the NET CAPITAL
GAINS is ____ % for the first P100K gain and below; ____% in excess of P100K gain
a. 5% and 10% b. 10% and 5% c. 5% and 6% d. 6% and 10%

12. The expanded creditable withholding tax for brokers commission is fixed at:
a. 5% b. 6% c. 10% d. 15%

13. The expanded creditable withholding tax for the lessee’s rent is fixed at:
a. 5% b. 6% c. 10% d. 15%

14. The life span of Certificate Authorizing Registration per Revenue Memorandum Circular 23-2010
dated March 15, 2010 is :
a. 6 months b. 12months c. 18months d. 24months

15. MACEDA LAW:

a. The minimum rate of refund if the buyer has paid at least 24 monthly amortization payments
i. 20% of total payments made (downpayment and amortization payments)
ii. 25% of total payments made (downpayment and amortization payments)
iii. 50% of total payments made (downpayment and amortization payments)
iv. 90% of total payments made (downpayment and amortization payments)

b. The maximum rate of refund if buyer has paid more than 24 monthly installments
i. 25% of total payments made (downpayment and amortization payments)
ii. 50% of total payments made (downpayment and amortization payments)
iii. 90% of total payments made (downpayment and amortization payments)
iv. 100% of total payments made (downpayment and amortization payments)

c. Additional rate of refund after 5 years of installments

i. 2% ii. 5% iii. 8% iv. 10%

16. PD 957
a. The minimum rate of refund if the buyer has paid less than 24 monthly amortization payments
i. 100% of total payments less penalty plus interest at the legal rate
ii. No refund
iii. 100% of all payments inclusive of penalty plus interest at the legal rate
iv. 50% of all payments less penalty plus interest at the legal rate

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 12

 b. The maximum rate of refund if buyer has paid more than 24 monthly installments
i. 100% of total payments less penalty plus interest at the legal rate
ii. No refund
iii. 100% of all payments inclusive of penalty plus interest at the legal rate
iv. 50% of all payments less penalty plus interest at the legal rate

17. PD 957 and PD 1216

a. Maximum saleable area for subdivision development
i. 50% ii. 60% iii. 70% iv. 80%
b. Minimum open space for subdivision development
i. 10% ii. 20% iii. 30% iv. 40%

18. LEASE
a. Under Civil Code, Filipino citizen may lease real estate property of no more than:
i. 25 years ii. 50 years iii. 75 years iv. 99 years

b. Under PD 471, a foreigner not a foreign investor may lease real estate property in the Phils for a
maximum of ____ years including renewal.
i. 25 years ii. 50 years iii. 75 years iv. 99 years

c. Under RA 7652, a foreign investor may lease land in the Phils solely for investment for a
maximum of _______years including renewal
i. 25 years ii. 50 years iii. 75 years iv. 99 years

d. Under 1987 Constitution, a Filipino citizen may lease government land for ____ years, renewable
for another ______years. 500has.
i. 25 and 25 ii. 50 and 50 iii. 15 and 15 iv. 50 and 25

e. Under 1987 Constitution, a corporation may lease government land for ____ years, renewable
for another ______years 1,000has.
i. 25 and 25 ii. 50 and 50 iii. 15 and 15 iv. 50 and 25

f. Useful improvements: If the lessee makes in good faith useful improvements suitable for the use
intended, he is entitled to ____% refund of the value of the improvements.
i. none ii. 25% iii. 50% iv. 100%

g. In tacita reconducta, if the lessee after the expiration of the lease contract continues to occupy
the rented property for at least _____ , without notice to vacate from the lessor, it is understood
that there is an implied new lease contract.
i. 15days ii. 20days iii. 30days iv. 60days

h. Under Rent Control Law of 2009 (RA 9653) the maximum increase of residential dwellings
covered by rent control law should not exceed ____%. (EXTENDED TO 2015 BY HUDCC)
i. 5% ii. 7% iii. 10% iv. 15%

i. Under Rent Control Law of 2009 (RA 9653) the maximum rent for residential dwellings located in
the province should not exceed P______ per month.
i. P3,000.00 ii. P4,000.00 iii. P5,000.00 iv. P6,000.00

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 13

 j. Under Rent Control Law of 2009 (RA 9653) the maximum rent for residential dwellings located in
the NCR and highly urbanized areas should not exceed P______ per month.
i. P7,000.00 ii. P8,000.00 iii. P9,000.00 iv. P10,000.00

k. One ground for judicial ejectment under Rent Control is non payment of rental for at least ____
consecutive months.
i. 2 ii. 3 iii. 4 iv. 5

19. Under the Philippine Expropriation Law, the initial offer of the government for the lot affected is
_______% of the BIR zonal value per square meter.
i. 50% ii. 80% iii. 100% iv. 150%

20. The ground floor of a residential condominium is treated as commercial by the BIR and therefore a
_____% premium based on regular zonal value is added.
i. 10% ii. 15% iii. 20% iv. 25%

21. URBAN LAND REFORM: RA 7279 (UDHA), PD 1517

a. Considered small property owners in highly urbanized areas .
a. 100sqm b. 200sqm. c. 300sqm. d. 400sqm

b. Considered small property owners in other urban areas.

a. 500sqm b. 700sqm. c. 800sqm. d. 1,000sqm

c. Right of pre-emption or redemption (right of first refusal) is given to legitimate tenants in urban
land to buy the property they are renting if the owner is selling the land as long as they are
renting the place for at least ______ years.
a. 5years b. 8 years c. 10years d. 30years

d. Disturbance compensation for informal settlers under RA7279 (UDHA) should be _____ days
multiply by the minimum wage prevailing in the area of subject property
a. 15 days b. 30days c. 60days d. 90days

22. AGRARIAN REFORM : PD 27 (Emancipation Decree); RA 6657 (CARP); RA9700 (CARPER)

a. Retention under PD27
i. 3 hectares ii. 5 hectares iii. 7 hectares iv. 10 hectares
b. Retention under RA6657 for the land owner
i. 3 hectares ii. 5 hectares iii. 7 hectares iv. 10 hectares

c. Award ceiling to beneficiary if land is not irrigated under PD27

i. 3 hectares ii. 5 hectares iii. 7 hectares iv. 10 hectares

d. Award ceiling to beneficiary if land is irrigated under PD27

i. 3 hectares ii. 5 hectares iii. 7 hectares iv. 10 hectares
ii.
e. Award ceiling to beneficiary if land under CARP (RA6657)
i. 3 hectares ii. 5 hectares iii. 7 hectares iv. 10 hectares

f. Award ceiling to beneficiary if land under CARPER (RA9700)

i. 3 hectares ii. 5 hectares iii. 7 hectares iv. 10 hectares

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 14

 g. If the land is tenanted after 1972, emancipation patent maybe sold only after ____ years from
date of recognition of tenant
a. 5years b. 8 years c. 10years d. 30years

h. An undeveloped land not suitable for agriculture and has a slope of _____ % or more is not
subject to agrarian reform.
a. 10% b. 15% c. 20% d. 18%

i. CARPER (RA 9700) extended the Agrarian Reform Program of the government for another ___
years
a. 5 years b. 10years c. 15years d. 20years

23. PATENTS
a. Prescriptive period for adverse possession
i. 5years ii. 10years iii. 20years iv. 30years

b. Prescriptive period if possession is in good faith

i. 5years ii. 10years iii. 20years iv. 30years

c. Prescriptive period under RA10023 (New Residential Free Patent Law)

i. 5years ii. 10years iii. 20years iv. 30years

d. Free patent cannot be alienated nor encumbered within ______ years

i. 5years ii. 10years iii. 3years iv. 15years

e. Homestead patent cannot be alienated nor encumbered within _____ years

i. 5years ii. 10years iii. 20years iv. 30years

f. Sales patent cannot be alienated nor encumbered within ______ years

i. 5years ii. 10years iii. 20years iv. 30years
ii.
g. Emancipation patent cannot be alienated nor encumbered within _____ years
i. 5years ii. 10years iii. 20years iv. 30years

24. INHERITANCE WITHOUT A WILL (SHARE ON DECEDENT’S ESTATE)

a. The share of a legally adopted child is _____% of the share of legitimate child.
i. 25% ii. 50% iii. 75% iv. 100%

b. The share of an illegitimate child is _____% of the share of the legitimate child.
i. 25% ii. 50% iii. 75% iv. 100%

c. The share of the wife is _____% of the share of the legitimate child.
i. 25% ii. 50% iii. 75% iv. 100%

d. Without a legitimate child the share of the parent/s is _____% of the decedent’s estate.
i. 25% ii. 50% iii. 75% iv. 100%

e. Without a legitimate child nor parent/s, the share of the spouse if there are 2 illegitimate
children on the decedent’s estate is _____% of the decedent’s estate.
i. 25% ii. 50% iii. 75% iv. 100%

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 15

 f. Without a legitimate child or parent/s, only brothers and sisters, the share of the surviving
spouse is ______% on the decedent’s estate.
i. 25% ii. 50% iii. 75% iv. 100%

g. In the absence of legitimate descendants and ascendants, however, with brother and sister, the
share of the illegitimate child or children is ____% of the decedent’s estate.
i. 25% ii. 50% iii. 75% iv. 100%

25. INHERITANCE WITH A WILL (ON DECEDENT’S ESTATE)

a. The share of a legitimate child is at least ____% on the decedent’s estate
i. 25% ii. 50% iii. 75% iv. 100%

b. The share of 2 legitimate children is at least _____% on the decedent’s estate

i. 25% ii. 50% iii. 75% iv. 100%

c. Without child nor children, the share of the parent/s is _____% on the decedent’s estate
i. 25% ii. 50% iii. 75% iv. 100%

d. The share of the wife should not exceed the share of one child
i. 25% ii. 50% iii. 75% iv. 100%

26. REDEMPTION, PRE-EMPTION

a. Foreclosure sale of banking institution; basis is registration of the sale
i. Extra-judicial – right of redemption, if mortgagor is individual
1. 1 year 2. 3 months 3. 6 months 4. 2 months

ii. If mortgagor is a juridical entity, maximum of ____ or upon registration of the certificate
of sale whichever comes first
1. 1 year 2. 3 months 3. 6 months 4. 2 months

b. In tax delinquency sale, the redemption period starting from the registration of the sale is_____.
1. 1 year 2. 3 months 3. 6 months 4. 2 months

c. For judicial foreclosure , ______for individual mortgagor, if mortgagee is banking institution

1. 1 year 2. 3 months 3. 6 months 4. 2 months

d. For judicial foreclosure, _____ or before the court approve the sale, if the mortgagee is not a
banking institution
1. 1 year 2. 3 months 3. 6 months 4. 2 months

e. Under PD 1517, if the owner of the land occupied by a legitimate tenant for at least 10 years, is
being offered for sale, the legitimate tenant has the right of first of refusal and maybe exercised
for a period not exceeding ______months.
i. 1 month ii. 2 months iii. 3 months iv. 6 months

f. In general, under Civil Code, right of first refusal is within ______ starting from the date the offer
was made.
i. 30days ii. 60days iii. 90days iv. 6 months

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 16

 g. Adverse claim is good for _______days upon registration
i. 15days ii. 30 days iii. 45 days iv. 60 days

27. PD957, BP220, HLURB

a. Under subdivision development, HLURB is giving temporary license to sell for ________.
i. 3 months ii. 6 months iii. 90 days iv. one year

b. Maximum length of block allowed for PD 957 and BP220 with alley provision
i. 200 meters ii. 250 meters iii. 300 meters iv. 400 meters

c. Maximum length of block that does not need provision for alley
i. 150 meters ii. 200 meters iii. 250 meters iv. 300 meters

d. One phase of subdivision or 10 hectares, should be developed within ______ from the issuance
of license to sell.
i. 6 months ii. 1 year iii. 2 years iv. 3 years

e. Under BP 220, the minimum lot area for socialized housingper Board Resolution 824 S. 2008
i. For single detached housing
1. 36sqm. 2. 64sqm. 3. 50sqm. 4. 72sqm.
ii. For duplex housing
1. 28sqm. 2. 36sqm. 3. 48sqm. 4. 64sqm.
iii. For single attached housing
1. 28sqm. 2. 36sqm. 3. 48sqm. 4. 64sqm.
iv. For rowhouse
1. 28sqm. 2. 30sqm. 3. 32sqm. 4. 36sqm.

f. Under BP 220, the minimum lot area for economic housing per Board Resolution 824 S. 2008
i. For single detached housing
1. 80sqm. 2. 75sqm. 3. 50sqm. 4. 72sqm.
ii. For duplex housing
1. 30sqm. 2. 36sqm. 3. 50sqm. 4. 54sqm.
iii. For single attached housing
1. 30sqm. 2. 36sqm. 3. 50sqm. 4. 54sqm.
iv. For rowhouse
1. 28sqm. 2. 24sqm. 3. 32sqm. 4. 30sqm.

g. Under BP 220, the minimum floor area for economic housing:

1. 20sqm. 2. 22sqm. 3. 24sqm. 4. 30sqm.

h. Under BP 220, the minimum floor area for socialized housing:

1. 18sqm. 2. 20sqm. 3. 22sqm. 4. 24sqm.

i. Under PD957, the minimum lot area for open market housing :
i. For single detached housing
1. 80sqm. 2. 100sqm. 3. 120sqm. 4. 150sqm.

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 17

 ii. For duplex housing
1. 80sqm. 2. 100sqm. 3. 96sqm. 4. 120sqm.

iii. For single attached housing for medium cost housing:

1. 80sqm. 2. 96sqm. 3. 100sqm. 4. 120sqm.

iv. For rowhouse

1. 32sqm. 2. 40sqm. 3. 50sqm. 4. 60sqm.

j. Under PD957, the minimum lot area for medium cost housing
i. For single detached housing
1. 80sqm. 2. 75sqm. 3. 120sqm. 4. 100sqm.

ii. For duplex housing

1. 50sqm. 2. 70sqm. 3. 80sqm. 4. 100sqm.

iii. For single attached housing

1. 50sqm. 2. 70sqm. 3. 80sqm. 4. 100sqm.

iv. For rowhouse

1. 45sqm. 2. 40sqm. 3. 60sqm. 4. 50sqm.

k. Under PD957, the minimum floor area for open market housing:
1. 32sqm. 2. 42sqm. 3. 36sqm. 4. 40sqm.

l. Under PD957, the minimum floor area for medium cost housing:
1. 30sqm. 2. 32sqm. 3. 36sqm. 4. 42sqm.

m. What are the price ceilings set by the Housing and Urban Development Coordinating Council
(HUDCC) as per MC No. 5 Series of 2007 Re: Redefinition of Loan Ceilings/Packages : Source:
HLURB Website
i. For Socialized housing
1. P 400,000.00 and below
2. P250,000.00 and below
3. P300,000.00 and below
4. P450,000.00 and below

ii. Low Cost - Level 1 (BP220 Standard)

1. Above P300K to P1,250,000.00
2. Above P400K to P1,250,000.00
3. Above P400K to P750,000.00
4. Above P300K to P750,000.00

iii. Low Cost - Level 1 (PD957 Standard)

1. Above P750,000.00 to P1,250,000.00
2. Above P750,000.00 to P2,000,000.00
3. Above P1,250,000.00 to P2,000,000.00
4. Above P1,250,000.00 to P2,500,000.00

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 18

 iv. PD957 – Medium Cost
1. Above P1,250,000.00 to P2,500,000.00
2. Above P1,250,000.00 to P3,000,000.00
3. Above P2,000,000.00 to P3,000,000.00
4. Above P2,000,000.00 to P4,000,000.00

v. PD957 – Open Housing

1. Above P2,000,000.00
2. Above P3,000,000.00
3. Above P3,500,000.00
4. Above P4,000,000.00

28. BP 185 ( Land acquisition by former natural born Filipino citizen)

Maximum allowable area for residential land
a. Urban land
i. 300 sqm. ii. 500sqm. iii. 1,000sqm. iv. 2,000sqm.
b. Rural land
i. 1,000 sqm. ii. 5,000sqm. iii. 1 hectare iv. 3 hectares

29. RA 8179 ( For business purpose)

a. Urban land
i. 1,000 sqm. ii. 2,000sqm. iii. 3,000sqm. iv. 5,000sqm.
b. Rural land
i. 1 hectare ii. 2 hectares iii. 3 hectares iv. 5 hectares

30. RA6732 – Administrative Reconstitution

a. Allowed if the lost titles in the Registry of Deeds is at least ______% of all titles in the Registry
i. 5% ii. 10% iii. 15% iv. 20%

b. But no less than _________ titles

i. 500 titles ii. 300 titles iii. 250titles iv. 1,000 titles

CES Academy: 2014 Broker’s Reviewer 10_Mock Exams on Glossary 19