Real Estate Agent License Exam Practice Test

200 Questions | By Joco | Updated: Mar 21, 2022 | Attempts: 1629

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Real Estate Agent License Exam Practice Test - Quiz

Real estate is the business of selling, buying, and renting any property consisting of land and the buildings on it.

Questions and Answers

1.

The purposes of Land Registration Law in general, are: EXCEPT?
- A.
  
  To ascertain once and for all the absolute titles over a given landed property
- B.
  
  To make a certificate of title issued by the court to the owner of the land absolute proof of such title
- C.
  
  To decree that land title to be final, revocable, and disputable
2.

A registered title under the Torrents system cannot be defeated by, prescription.
- A.
  
  TRUE
- B.
  
  FALSE
- C.
  
  SOMETIMES
3.

May be defined briefly as that which constitutes a just cause of exclusive possession, orwhich is the foundation of owner of property.
- A.
  
  Deeds
- B.
  
  Titles
- C.
  
  Patents
4.

Application for an Original Certificate of Title (OCT) should contain the ff: except?
- A.
  
  Name, citizenship, civil status
- B.
  
  Address, lot description
- C.
  
  Age
5.

___is a co-ownership undertaking for the development of condominiums and other propertyprojects which allows unit buyers to acquire a condominium unit at a significantly lower cost bydirectly engaging the services of a construction industry professional to develop the condominiumproperty.
- A.
  
  MRBs
- B.
  
  BTO
- C.
  
  LTO
6.

A tangible object or an intangible service that is mass produced or manufactured on a largescale with a specific volume of units.
- A.
  
  Intangibles
- B.
  
  Product
- C.
  
  Brand
7.

_____ explores how and why people adopt new ducts, services and ideas.
- A.
  
  Diffusion of innovations research
- B.
  
  Internal marketing
- C.
  
  Permission marketing
8.

The activity, set of institutions, and processes for creating, communicating, delivering, andexchanging offerings that have value for customers, clients, partners, and society at large.
- A.
  
  Marketing Management
- B.
  
  Marketing
- C.
  
  Internal Marketing
9.

Consequences of non-payment of assessment are: except?
- A.
  
  The management body may constitute a lien on the delinquent condominium unit by registering with the Register of Deeds a notice of assessment and delinquency.
- B.
  
  Such lien may be enforced in the same manner provided by law for the judicial or extra-judicial foreclosure of mortgage.
- C.
  
  The unit owner affected shall not have the same right of redemption as in cases of judicial or extrajudicial foreclosure of mortgage.
10.

Contract of Sale is to Deed of Sale; Contract to Sell
- A.
  
  Dacion En Pago
- B.
  
  Deed of Conditional Sale
- C.
  
  Deed of Sale with Mortgage
11.

Zonal value of a property can be obtained from
- A.
  
  Assessor's Office
- B.
  
  BIR
- C.
  
  Land Registration Administration
12.

HDMF Collateral Ratio to a P400,000.00 loan amount is:
- A.
  
  80%
- B.
  
  95%
- C.
  
  100%
13.

HDMF Maximum loan amount
- A.
  
  1 Million
- B.
  
  2 Million
- C.
  
  3 Million
14.

HDMF Processing Fee
- A.
  
  P 1,000.00
- B.
  
  P 2,000.00
- C.
  
  P 3,000.00
15.

HDMF Retention Fee (accounts secured by Contract to Sell) for loans over P 500,000.00 to P1,000,000.00
- A.
  
  6%
- B.
  
  7%
- C.
  
  7.5%
16.

Penalty for late payment of monthly amortization is computed
- A.
  
  Monthly
- B.
  
  Weekly
- C.
  
  Daily
17.

Maximum loan entitlement of Pag-ibig member paying P1,300D0 monthly contribution
- A.
  
  2.7M
- B.
  
  2.0 M
- C.
  
  1 M
18.

Capacity to pay shall be limited to an amount for which the monthly amortization shall notexceed ____% of the member's Net Disposable Income
- A.
  
  20%
- B.
  
  30%
- C.
  
  40%
19.

HDMF Maximum Loan Term
- A.
  
  20 years
- B.
  
  25 years
- C.
  
  30 years
20.

The law that protects buyers in a condominium of a subdivision project.
- A.
  
  PD 957
- B.
  
  BP220
- C.
  
  PD 1586
21.

Refers to the inherent or implies the right of the state to interfere with or regulate privaterights in the interests of the public health, public safety, peace and order, public moral, publiccomfort & convenience d general welfare.
- A.
  
  Escheat
- B.
  
  Police Power
- C.
  
  Taxation
22.

A document issued by the DENR that the proponent has complied with all the requirements ofthe Environmental Impact Statement System and that the proponent is committed to implement the project's Environmental Managemen Plan.
- A.
  
  EIS
- B.
  
  EIA
- C.
  
  ECC
23.

Three (3) types of transactions, under PD 957, exempted from securing license to sell:-except?
- A.
  
  On site CMP
- B.
  
  NHA controlled buying
- C.
  
  Bulk buying with construction of housing units resulting in increased density from the original plan
24.

Are powers of the HLURB: except?
- A.
  
  Regulate and adjudicate
- B.
  
  Issue License to sell
- C.
  
  Issue development permit
25.

Are features of P.D. 957: except?
- A.
  
  Regulate sales of subdivision lots and condo units
- B.
  
  Defines sale to be covered by registration
- C.
  
  Set prices and discounts