12/5/21, 6:21 PM 2021 REA Licensure Examination AM

2021 REA Licensure Examination AM

Total points 0/151

Fundamentals of Real Estate Appraisal

Email *

alvaranpaulyn18@gmail.com

1. The areas of land owned by the property owner but in which other ···/1
parties, such as utility companies may have limited rights granted for a
specific purpose is? *

A. Improvements

B. Building line

C. Easement

D. Right of Way

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 1/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

2. Choose who is NOT a party in a real estate transaction. * ···/1

A. Buyer or Principal or the Client

B. Licensed Real Estate Broker as the Negotiator/Mediator

C. Seller or Principal or the Client

D. Board Member of the Real Estate Service as the Mentor

No correct answers

3. What does PRB-RES stand for? * ···/1

A. Professional Regulations of Board of Real Estate Service

B. Philippine Regulatory Board of Real Estate Service

C. Philippine Registration Board of Real Estate Service

D. Professional Regulatory Board of Real Estate Service

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 2/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

4. What is the rate at which the Net Present Value equals zero, reflecting ···/1
both the return on the invested capital and the original investment,
which are basic considerations of potential investors? *

A. Income Approach

B. Investment Method

C. Internal Rate of Return

D. Market Data

No correct answers

5. An appraisal made for the purpose of determining a fair ···/1

compensation for private property to be acquired for use of the
government is called ______ appraisal. *

A. Foreclosure

B. Assessment

C. Zonal Value

D. Expropriation

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 3/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

6. In subdivision project, what kind of market is present when there were ···/1
numerous lots sold but only few buyers were buying? *

A. Selective

B. Buyer's

C. Close

D. Sellers

No correct answers

7. A Philippine REIT Company is required to distribute its distributable ···/1

income as dividends to its shareholders not later than the last day of
what month following the close of its fiscal year? *

A. Sixth

B. Third

C. Fourth

D. Fifth

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 4/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

8. In the PRBRES logo, the color gold represents _____. * ···/1

A. Money

B. Life and light

C. Environment and ecology

D. Ethical standards and prosperity

No correct answers

9. What term is used in a situation where a real estate contracts are not ···/1
enforceable unless the parties have exchanged something of value? *

A. Lack of consideration

B. Absence of mutual assent

C. Impossibility

D. Force majeure

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 5/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

10. The acquisition of land at values based on existing use in order to ···/1
promote planned development and socialized housing programs is
known as ___________. *

A. Land swapping

B. Land banking

C. Land amalgamation

D. Land consolidation

No correct answers

11. Identify the branch of science which deals with the study of ···/1
processes and patterns in the natural environment like the atmosphere,
hydrosphere, biosphere and geosphere, as opposed to the cultural or
built environment. *

A. Human geography

B. Physical geography

C. Environmental science

D. Geological science

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 6/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

12. Which of these is not part of the PVS Code of Conduct for ···/1
appraisers? *

A. Confidentiality

B. Integrity

C. Conflict of interest

D. Collaboration

No correct answers

13. In the sale or disposition of conjugal property, the wife's consent ···/1
must be secured. If her consent was not secured, the wife may question
the sale or disposition from the date of sale. Within what period can it be
contested? *

A. 3 years

B. 4 years

C. 2 years

D. 5 years

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 7/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

14. Provided below are non-exhaustive list of circumstances that ···/1

commonly include an intangible asset valuation component. Identify
these purposes. I. Valuations of intangible assets are often required in
connection with accounting for business combinations, assist
acquisitions and sales, and impairment analysis. II. Valuations are
frequently needed for transfer pricing analyses, estate and gift tax
planning and reporting, and ad valorem taxation analyses. III. Intangible
assets may be subject of litigation, requiring valuation analysis in
circumstances such as a shareholder disputes, damage calculations and
marital dissolutions (divorce). IV. Other statutory or legal events may
require the valuation of intangible assets such as compulsory
purchases/eminent domain proceedings. V. Valuers are often asked to
value intangible assets as part of general consulting, collateral and
transactional support engagements. *

A. I, IV, III, V only

B. I, II, III, IV, V

C. II, III, IV, V only

D. I, II, III, only

No correct answers

15. Regions in the Philippines came into existence because of ________. * ···/1

A. E.O. 1

B. R.A. 1

C. B. P. 1

D. P.D. No 1

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 8/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

16. If a comparable was sold for P3.0M and has two-car garage valued at ···/1
P150,000 and the Subject property has a garage, the indicated value of
the Subject can be computed by __________________ *

A. adding P75,000 to the comparable sale

B. subtracting P75,000 from the Subject property

C. subtracting P75,000 from the comparable sale

D. adding P75,000 to the Subject property

No correct answers

17. Identify these Assets representing the value of rights that arise from ···/1
contractual agreements, like licensing and royalty by agreements,
service or supply contracts, lease agreements, permits, broadcast
rights, servicing contracts, employment contracts and non-competition
agreements and natural resource rights. *

A. Marketing-related

B. Technology-based

C. Customer-related

D. Contract-related

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3e… 9/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

18. To whom this Professional Rules of Ethics and Responsibilities ···/1

applies? "The Practitioner shall fully and truthfully disclose all pertinent
and material facts involved in the engagement". *

A. the general public

B. the government

C. fellow practitioners

D. the client

No correct answers

19. The implementing rules and regulations of the Republic Act Number ···/1
9646 was issued through PRBRES Resolution Number _______________. *

A. 03

B. 02

C. 01

D. 04

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 10/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

20. Identify the cost of estimate envisioned for modern equivalent of ···/1
comparable utility, employing the design, technology and materials that
are currently used in the market. *

A. Appreciation

B. Replacement

C. Reproduction

D. Depreciation

No correct answers

21. Identify this land specifically devoted to various fruit trees and plants. ···/1
*

A. Timber land

B. Agricultural

C. Forest

D. Orchard

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 11/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

22. Three adjacent lots are worth Php100,000 each. If the entire tract ···/1
can be combined into one lot to be used as a commercial site, the
consolidated area will be worth Php500,000. Determine the plottage
value *

A. Php 300,000

B. Php200,000

C. Php800,000

D. Php600,000

No correct answers

23. What approach to value estimates the value of the property by ···/1
comparing it to comparable properties which have been sold recently? *

A. Sales Comparison

B. Income

C. Reproduction

D. Cost

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 12/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

24. A kind of demand that changes in price creates no change in ···/1

quantity demanded. *

A. Elastic

B. Perfectly elastic

C. Perfectly inelastic

D. Inelastic

No correct answers

25. Among the following, the sequence of adjustments should correctly ···/1
begin with: *

A. Conditions of Sale

B. Location

C. Financing

D. Physical characteristics

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 13/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

26. On Machineries Assessment Level, what is the applicable rate in ···/1

percent to be applied to the FMV on residential and commercial
classification? *

A. 80 and 40

B. 50 and 40

C. 50 and 80

D. 40 and 50

No correct answers

27. What is the other name for an all-inclusive trust deed? * ···/1

A. First deed of trust

B. Junior deed of trust

C. Wraparound deed of trust

D. Hypothecation

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 14/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

28. In matters of impartiality, a Real Estate Appraiser/Valuer must ______. ···/1

*

A. at all times deal with client's affair with proper discretion and confidentiality

B. not act in a manner that is misleading or fraudulent

C. at all times maintain a high standard of honesty and integrity and conduct their
activities in a manner not detrimental to their clients.

D. perform an assignment with the strictest independence, objectively, and

impartiality and without accommodation of personal interest.

No correct answers

29. Identify the means of assigning every parcel of land and upon all ···/1
taxable improvements on such lands, a current and fair market value, an
assessment level to be able to arrive at an assessed value for each land
and each improvement. *

A. Consequential Benefit

B. Assessment Operations

C. Assessment Level

D. Bundle of Rights

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 15/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

30. Which refers to Assets arising from the "right to benefits" from ···/1
artistic works such as plays, books, films and music, and from con-
contractual copyright protection? *

A. Technology-based

B. Contract-related

C. Artistic-related

D. Marketing-related

No correct answers

31. What refers to the exclusive property brought by the wife to the ···/1
marriage? *

A. Capital

B. Mortgage

C. Paraphernal

D. Contract

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 16/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

32. The process of making installment payments consisting of principal ···/1

and interest that reduces the loan-balance is known as _____________. *

A. Acceleration

B. Hypothecation

C. Liquidation

D. Amortization

No correct answers

33. What is referred to as a process of changing the use of an ···/1

agricultural land into an industrial form of ownership? *

A. Variance

B. Conversion

C. Proration

D. Interim Use

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 17/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

34. Which of the following is NOT an operative law implementing land ···/1
registration in the Philippines? *

A. Public Land Act

B. Friar Land Act

C. Comprehensive Agrarian Reform Law of 1988

D. Cadastral Act

No correct answers

35. Which refers to person/s, or entity for whom the valuation is ···/1
performed may be engaged by a third-party or performed for an
employer. *

A. Appraiser

B. Broker

C. Valuer

D. Client

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 18/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

36. Which refers to qualities such as income, operating expenses, lease ···/1
provisions, management, and tenant mix used to analyze income-
producing properties. *

A. Financing terms

B. Physical characteristics

C. Market condition

D. Economic characteristics

No correct answers

37. According to the Republic Act 7279, which refers to non-agricultural ···/1
urban lands which has no improvement of the value of the improvement
is less than 50% of the assessed value of the property? *

A. Blighted land

B. Resettlement land

C. Reserved land

D. Idle land

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 19/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

38. A fund in which periodic deposits of equal amounts are accumulated ···/1
to pay a debt or replace assets is called: *

A. An amortized loan

B. A sinking fund

C. Starting income

D. Deferred annuity

No correct answers

39. CHOOSE the correct definition of Taxation under RA No. 8424 * ···/1

A. Is the lifeblood of the government being imposed for the purposes of defraying or
supporting the government necessary expenses for its public needs.

B. Inherent power of the State to impose and collect taxes or revenue for the
purpose of defraying or supporting the government necessary expenses for its
public needs.

C. Inherent power of the State to collect taxes or revenue for the purpose of
defraying or supporting the government necessary expenses for its public needs.

D. Inherent power of the State for the purpose of defraying or supporting the
government necessary expenses for its public needs.

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 20/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

40. Select from the following the considerations involved in the ···/1
determination of the Highest and Best Use. I. To establish whether a use
is physically possible, regard will be had to what would be considered
reasonable participants. II. To reflect the requirement to legally
permissible, any legal restrictions on the use of the asset need to be
taken into account as well as the likelihood that these restrictions will
change. III. The requirement that the use be financially possible takes
into account whether an alternative use that is physically possible and
legally permissible will generate sufficient return to a typical participant,
after taking into account the cost of conversion to that use, over and
above the return on existing use. *

A. II and III

B. I and II

C. I, II, III

D. I and III

No correct answers

41. Which of the following is the responsibility of the Real Estate ···/1
Practitioner's Professional Rules of Ethics and Responsibilities as to
FELLOW PRACTITIONERS? *

A. The Practitioner shall always set a good example as a responsible law-abiding

citizen.

B. The Practitioner shall respect the dignity, reputation, and privacy of fellow
practitioners.

C. The Practitioner shall always maintain transparency in all dealings with the Client

D. The Practitioner shall strictly observe client-practitioner confidentiality

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 21/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

42. Compute the overall capitalization rate for a property with an annual ···/1
gross income of Php3,000,000 and with an annual operating cost of
Php750,000 which was purchased for Php10,000,000 *

A. 22.50%

B. 25.50%

C. 10.00%

D. 15.00%

No correct answers

43. What is the term of office of the 1st Board? * ···/1

A. Chairperson for 3 years, 2 members for 2 years and 2 members for 1 year and
renewed for another 3 years

B. Chairperson serves for 3 years, 2 members for 2 years and 2 member for 1
year

C. Chairperson serves for 3 years, and the 4 members serves for 2 years renewed for
another 3 years.

D. All serves for 3 years and renewed for another 3 years

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 22/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

44. It can cause the price paid for one property to differ from that of ···/1
another identical property, the types and conditions of financing
arrangements in the transaction shall be fully understood, analyzed and
accounted for. Select the correct arrangement concept from the
following. *

A. Elements of comparison

B. Market Analysis

C. Financing terms

D. Conditions of sale

No correct answers

45. Which refers to the property over which the wife has complete ···/1
control? *

A. Paternal

B. Paraphernal

C. Absolute Community

D. Conjugal

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 23/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

46. Which refers to the study of current supply and demand conditions ···/1
in a particular area for a type of property? *

A. Cost Analysis

B. Market Analysis

C. Appraisal Report

D. Income Approach

No correct answers

47. How much would a property sell if the market value is ···/1
Php9,000,000.00 and the value to price ratio (VPR) is 90%? *

A. Php 9,900,000.00

B. Php 10,000,000.00

C. Php 10,900,000.00

D. Php 8,100,000.00

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 24/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

48. Your client bought a property consisting of 26 hectares, 98 ares, and ···/1
300 centares. As recognized expert, he asks you what is the total land
area of the property in square meters. *

A. 27,000

B. 270,010

C. 270,000 270,100

D. 2,700,000

No correct answers

49. Affordable travel has changed expectations for many immigrants and ···/1
investors. They maintain ties with their homelands and travel back and
forth. This means the Real Estate Professional must be adept at__. *

A. investment opportunities

B. internet and social networking

C. innovative was of real estate practitioners

D. cross-cultural business relationships

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 25/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

50. The combination of rights associated with the ownership of real ···/1
property, e.g. the right to use, to sell, to give away, or to choose to
exercise all or none of these rights. Select what is being described. *

A. Assessed Value

B. Bundle of Rights

C. Market Value

D. Road Right of Way

No correct answers

51. What is the term used to describe a building or other improvement ···/1
on one property which invades another property or restrict it usage? *

A. Encroachment

B. Encumbrance

C. Dispute

D. Overlap

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 26/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

52. Mark is owner of a condominium unit and condominium carpark, ···/1

which is NOT included when Mark sold his condominium unit? *

A. Shareholdings

B. Interest in common areas

C. Membership

D. Carpark

No correct answers

53. Which refers to the physical land and all those items attached to the ···/1
land, the physical and tangible entity which can be seen and touched,
together with all the additions on, above, or below the ground? *

A. Subdivision

B. Community

C. Real Property

D. Real Estate

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 27/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

54. Charles deeds a life estate to Edward. Upon Edward's death, the title ···/1
is to be transferred to Henry. This is an example of a ________________. *

A. Fee simple estate

B. Remainder estate

C. Perpetual estate

D. Less-than-freehold estate.

No correct answers

55. Which economic principle affecting valuation shows that the value ···/1
rises by using the expected benefits to be gained from the property in
the future? *

A. Progression

B. Balance

C. Substitution

D. Anticipation

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 28/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

56. Why are memorial parks considered "wasting assets" * ···/1

A. Because those interred there are already "wasted"

B. Because the moment burial lots are sold, these become exempt from payment
of the real property tax.

C. Because memorial parks are exempt from real property taxes

D. Because the moment all burial lots are sold out, the developer never bother to
maintain the premises anymore.

No correct answers

57. What is the systematic, orderly procedure used to provide an answer ···/1
to a client's question or problem about real property values, an orderly
program by which the problem is defined, the work necessary to solve
the problem is planned and the date involved is acquired, classified,
analyzed and interpreted into an estimate of value? *

A. Principle of Surplus Productivity

B. Appraisal Process

C. Salvage Value

D. Unearned Increment

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 29/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

58. Which refers to a tract or a parcel of land registered under Act No. ···/1
496 which is partitioned primarily for residential purposes into individual
lots with or without improvements which is offered for sale. *

A. Urban development plan

B. Subdivision project

C. Subdivision plan

D. Housing development plan

No correct answers

59. Which power of the government refers to the right to take private ···/1
property for public use upon payment of just compensation? *

A. Police power

B. Eminent domain

C. Taxation

D. Escheat

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 30/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

60. What is the term used that refers to the withdraw of funds from ···/1
intermediary financial institutions, such as bank and savings loan
associations to invest them directly? *

A. Funds flow

B. Disintermediation

C. Cash flow

D. Bail out

No correct answers

61. Select the MOST probable value which a property should bring in a ···/1
competitive and open market under all conditions requisite to a fair sale,
the buyer and seller each acting prudently, knowledgeably and assuming
the price is not affected by undue stimulus. *

A. Economic

B. Special

C. Market

D. Substitution

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 31/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

62. If Peter appraised a building free of any lease or mortgage, it is said ···/1
to have a _____ value. *

A. Fair value

B. Fee simple value

C. Fair market value

D. Leased fee value

No correct answers

63. Fit and Proper rule means one who had passed the prescribed rule ···/1
determined by __________. *

A. DTI or other regulatory agency on qualifications, integrity, experience, education,

training, and competence

B. PRC or other regulatory agency on qualifications, integrity, experience, education,

training, and competence

C. PSE or other regulatory agency on qualifications, integrity, experience, education,

training, and competence

D. SEC or other regulatory agency on qualifications, integrity, experience,

education, training, and competence

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 32/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

64. Municipalities were authorized to levy, among others, an ad valorem ···/1

tax of not more than one-half of one percent of the assessed value of
real property. When was this real property tax introduced in the
Philippines? *

A. 1931

B. 1901

C. 1911

D. 1921

No correct answers

65. Identify the clause in the deed of a property that limits its type of use···/1
of intensity of use; usually passes with the land regardless of the owner.
*

A. Deed of Conveyance

B. Deed of Restriction

C. Deed of Warranty

D. Deed of Absolute Sale

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 33/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

66. In urban planning, what type of urban development is characterize by···/1

maximizing the amount of residential, business and leisure space within
walking distance of public transport? *

A. Transit-oriented

B. Optimum-oriented

C. Leisure-oriented

D. Comprehensive land use

No correct answers

67. What is the regime of property relation between spouses who were ···/1
married after the effectivity of the Family Code without any pre-nuptial
agreement? *

A. Conjugal partnership of gain

B. Absolute community of property

C. Separation of property

D. Co-ownership

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 34/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

68. It is fundamental to the process of Philippine Valuation Standards ···/1

(PVS) that valuation or appraisal performed in compliance with PVS
should be provided by Professional Valuers or Real Estate Appraisers
who are ________? *

A. honest and competent, free of bias or self-interest, whose report are clear, will
mislead and will not disclose all materials essential to the proper understanding of
the valuation/appraisal

B. honest and competent, free of bias or self-interest, whose report are

representative of client's interest and shall not disclose all materials essential to the
proper understanding of the valuation/appraisal

C. dishonest and incompetent, free of bias or self-interest, whose report are clear,
will mislead and will not disclose all materials essential to the proper understanding
of the valuation appraisal.

D. honest and competent, free of bias or self-interest, whose report are clear, will
not mislead and will disclose all materials essential to the proper understanding
of the valuation/appraisal

No correct answers

69. Identify a reference point from which the value of other similar ···/1
properties is measured or tested, to be consistent in determining the
quality level of construction, the quality class of this reference, age and
type of structure should be established. *

A. Beginning

B. Approach

C. Rights

D. Benchmark

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 35/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

70. In professional practice, which of the following will address the ···/1
ethical and competency obligations of the Valuers / Real Estate
Appraisers? *

A. Ethical conduct

B. Moral conduct

C. Code of conduct

D. Professional conduct

No correct answers

71. What does appraisal consulting assignment include? * ···/1

A. Can have an opinion of value.

B. Always with an opinion of value

C. Sometimes with an opinion of value

D. Never with an opinion of value

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 36/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

72. A real estate appraiser studies and interpret market activities and ···/1
uses them in preparation of the report EXCEPT: *

A. Market Activity Levels

B. Margin of Profits

C. Pricing Levels

D. Movements of Price

No correct answers

73. The Philippine agriculture today is still predominantly ________. * ···/1

A. Sugar cane

B. Pineapple

C. Rice and corn farming

D. Coconut farming

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 37/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

74. It is the study of nature, quality or utility of a parcel of real estate or ···/1
interest in real property. Identify from the following. *

A. Information

B. Evaluation

C. Differentation

D. Evolution

No correct answers

75. What is the role of a real estate appraiser in valuing a property? * ···/1

A. Guarantees the value of the property

B. Estimates the value of the property

C. Makes an assurance on the value of the property

D. Computes the exact value of the property

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 38/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

76. What is a scheme whereby a group of homeowners occupying a ···/1

contiguous parcel of land, constituting a neighborhood units and they
own the land in common? *

A. urbanizable land

B. neighborhood ownership

C. residential freehold

D. development plan

No correct answers

77. CHOOSE which principle applies as the supply of the developable ···/1
land decreases and as demand continues to rise, the value of the
remaining land will generally tend to rise value. *

A. Contribution

B. Anticipation

C. Highest and Best Use

D. Supply and Demand

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 39/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

78. What is the applicable monthly percentage tax of John annual rental ···/1
income is 1,612,800 on her 15 door apartment? *

A. 6,720.00

B. 14,400.00

C. 8,378.00

D. 4,032.00

No correct answers

79. A house and lot was purchased for Php12,000,000. The house alone ···/1
was valued at Php7,500,000. What is the percentage cost of the house
to the total purchase price? *

A. 160.00%

B. 37.50%

C. 266.67%

D. 62.50%

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 40/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

80. For existing residential homes, the best appraisal approach is ···/1
___________. *

A. Cost approach

B. Market approach

C. Income approach

D. Capitalization approach

No correct answers

81. Which economic principle that affects the value of the property is ···/1
applicable in a situation wherein the value of the best house in an
earthquake-hit neighborhood tends to go down? *

A. Anticipation

B. Balance

C. Progression

D. Regression

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 41/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

82. Which refers to the practice of appraising multiple properties as of a ···/1

given date by a systematic and uniform application of appraisal methods
and techniques, employing common data that allow for statistical review
and analysis of results. *

A. Reassessment

B. Residual Value

C. Mass appraisal

D. Valuation

No correct answers

83. Identify the principles that refers to the building blocks of the ···/1
property valuation process, including property inspection, market
analysis and basic economics. *

A. Appraisal

B. Valuation

C. Assessment

D. Property

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 42/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

84. Which of the following real estate transaction will make use of a ···/1
junior lien? *

A. The seller carries the first deed of trust.

B. The buyer puts up a 20% down payment and obtains an 80% loan.

C. The buyer puts up a 10% down payment and obtains an 80% loan as the seller
carries a 10% second deed of trust.

D. An all-cash sale.

No correct answers

85. In other areas outside NCR, San Jose del Monte City of Bulacan ···/1
Province, Cainta and Antipolo of Rizal Province, San Pedro City of
Laguna, Carmona and the Cities of Imus and Bacoor of Cavite Province,
what is the price ceiling for socialized condominium projects with an
area of 24 sqm? *

A. P750,000

B. P600,000

C. P700,000

D. P650,000

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 43/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

86. What shall govern the professional and ethical conduct of the real ···/1
estate service practitioners? *

A. The Golden Rule

B. Continuing Professional Development

C. The Real Estate Service Laws

D. Code of Ethics and Responsibilities

No correct answers

87. CHOOSE the study of how geographic patterns of man and his works ···/1
change or may place emphasis only on the complete geography of a
small region at a certain time. *

A. Economic Geography

B. Historical Geography

C. Behavioral Geography

D. Biogeography

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 44/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

88. Valuation is the process of estimating market value of an identified ···/1

interest on a specific parcel of real estate for a particular date while
evaluation is the study of the ______________. *

A. orderly process of appraisal or interests in real property

B. estimation on real estate or interests thereof

C. nature, quality or utility of a specific real estate or interests thereof

D. services to clients that deals with marketability and development of real property.

No correct answers

89. A market exists when purchasers and sellers of a single commodity ···/1
come together in ____. *

A. a demand and supply market situation that they establish a single demand of a
commodity

B. an intercourse that they establish a single demand of a commodity

C. a single commodity for the demand thereof established by the parties

D. a freedom of intercourse that they establish a single price of a commodity

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 45/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

90. Which of the following is NOT considered as one of the "bundle of ···/1
rights"? *

A. The right to own property

B. The right to encumber

C. The right to pay taxes

D. The right to enjoy

No correct answers

91. A property has 25 apartments: 15 two-bedroom unit renting for ···/1

P6,000 per month each and 10 one-bedroom unit renting for P3,000 per
month each. There are 14 two-bedroom unit occupied and 8 one-
bedroom occupied. What is the potential gross income of the property?
(Round-off answer to the nearest figure) *

A. P2.248M

B. P2.304M

C. P2.200M

D. P2.016M

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 46/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

92. What refers to the actual or estimated periodic net income produced ···/1
by the revenues and expenditures in the operation of an income
producing property? *

A. Capitalization

B. Cost approach

C. Cash flow

D. Market analysis

No correct answers

93. If the landowner does NOT agree with the price fixed for the ···/1
payment of just compensation, where can the landowner elevate the
matter? *

A. To the President of the Republic of the Philippines

B. To the Regional Trial Court acting as Special Agrarian Court

C. To the Secretary of the Department of Agrarian Reform

D. To the Adjudication Board of Department of Agrarian Reform Central Office

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 47/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

94. What refers to the exclusive property of the Husband? * ···/1

A. Co-ownership

B. Paraphernal

C. Investment

D. Capital

No correct answers

95. The following are example of special purpose properties EXCEPT ···/1
_____. *

A. church

B. house and lot

C. private library

D. public school

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 48/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

96. Which of the following is NOT one of the modes of extinguishing a ···/1
contract of Agency? *

A. Withdrawal of the agent

B. Withdrawal of the deposit in the bank

C. Death, civil interdiction of the agent

D. Expiration of the period of the agency

No correct answers

97. In PRBRES Official Seal or Logo, the symbol of rising sun represents ···/1
the vital role of the real estate service practitioners in the social,
political, economic development and progress of the Philippines while
gold represent _______. *

A. Philippine archipelago

B. color of the Philippine flag

C. ethical standards and prosperity

D. color of service

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 49/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

98. Per HLURB AO#2 series of 1992, what is the minimum lot size for an ···/1
industrial estate? *

A. 1000 sqm.

B. 1500 sqm.

C. 750 sqm.

D. 500 sqm.

No correct answers

99. Which refers to the situation where the spouses will be co-owners of ···/1
all the properties that each of them will bring in their marriage? *

A. Judicial settlement

B. Co-ownership

C. Absolute community of property

D. Capital property

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 50/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

100. The usufructuary does not have the following obligation * ···/1

A. To make inventory of all movables in the property;

B. To give security for the movables in his possession;

C. To repair all kinds of damages in the property incurred during his possession.

D. To notify the owner about damages incurred in the property;

No correct answers

101. The United States Internal Revenue Service defines fair market value ···/1
as *

A. the amount that will be realized when an asset or group of assets are sold on a
piecemeal basis

B. the price at which the property would change hands between a willing buyer
and a willing seller, neither being under any compulsion to buy or sell and both
having reasonable knowledge or relevant facts.

C. the price a willing buyer would pay a willing seller in a transaction on the open
market

D. estimated price for the transfer of an asset or liability between identified,

knowledgeable and willing parties that reflects the respective interests of those
parties

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 51/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

102. Determine the segment of a property that runs along a point of ···/1
access such as a street or water front? *

A. Strip

B. Influence

C. Depth

D. Frontage

No correct answers

103. The following are rights of ownership of real property EXCEPT ···/1
___________. *

A. Disposition

B. Exclusion

C. Compatibility

D. Control

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 52/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

104. An economic concept refers to the price most likely to be ···/1

concluded between the buyers and sellers of a good/property or
services that is available for purchase. Choose from the following
concept. *

A. Price

B. Market

C. Profit

D. Value

No correct answers

105. Which Theory states that the government CANNOT exist/survive or ···/1
function without taxes? *

A. Equality

B. Administrative

C. Reciprocal

D. Necessity

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 53/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

106. Within how many days from the receipt of the notice of assessment ···/1
can a property owner file an appeal with the Local Board of Assessment
Appeal? *

A. 60

B. 45

C. 90

D. 30

No correct answers

* ···/1

Option 1

No correct answers

107. In percent, how is the collected real property taxes of a city ···/1
allocated? *

A. City-85; Barangay-15

B. City-70; Barangay-30

C. City-75; Barangay-25

D. City-80; Barangay-20

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 54/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

108. CHOOSE the appraisal principle which states that a commodity is ···/1
scarce and the demand is high, hence, its value increases. *

A. Balance

B. Regression

C. Highest and best use

D. Supply and demand

No correct answers

109. An easement on a parcel of land may be removed from the records ···/1
by one of the following: *

A. Lis pendens action

B. Unlawful detainer action

C. Reconveyance deed

D. Recording a quitclaim deed executed by the user of the easement to the

servient tenement.

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 55/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

110. A commercial rectangular lot with a measurement 25 meters by 30 ···/1

meters and has a unit value of Php15,000 per square meter based on the
schedule of market value of the assessor. Compute the total real
property tax (Basic and SEF) to be paid using the maximum assessment
level for a commercial land and maximum basic and SEF tax rate of a city.
*

A. Php168,750

B. Php112,500

C. Php140,625

D. Php45,000

No correct answers

111. Given a new Schedule of Market Values (SMV) where appraisal ···/1
increases are apparent, evaluate the best option for the local sanggunian
to enact an ordinance maintaining the same real property tax due
without sacrificing the tax on the transfer of real properties. *

A. Reduce assessment levels and maintain the real property tax rate

B. Reduce assessment levels, as well as, the real property tax rate.

C. Maintain assessment levels and reduce the real property tax rate.

D. Maintain assessment levels, as well as, the real property tax rate.

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 56/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

112. In NCR, what is the price ceiling for socialized condominium projects ···/1
with an area of 22 sqm? *

A. P600,000

B. P750,000

C. P650,000

D. P700,000

No correct answers

113. Which of the following is NOT a condition to be considered in forced ···/1

sale? *

A. the buyer is motivated

B. payment will be made in cash

C. normal marketing effort is possible

D. consummation of a sale is within a short period of time

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 57/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

114. The latest law, enacted in 2009, that reverted the nature of PAG- ···/1
IBIG Membership to be mandatory to all SSS and GSIS members is
known as *

A. Executive Order No. 90

B. Republic Act 9679

C. PD 1530

D. PD 4752

No correct answers

115. Ms. Chacha sold her 500 sqm. vacant lot for P3.5M. If the zonal value ···/1
of said property is P5,500 per sqm. and the FMV is P7,500/sqm., how
much will she pay for the capital Gains Tax? *

A. P210,000

B. P250,000

C. P225,000

D. P165,000

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 58/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

116. What is a non-possessory interest in land property conveying use, ···/1

but not ownership, a right or use by a portion or whole of one property
over an adjoining property, or perhaps a right by a statutory authority
over land for access or purpose of public works? *

A. Right of way

B. Easement

C. Absolute Sale

D. Donation

No correct answers

117. Under the Family Code, a couple who gets married in May 2005, but ···/1
did not have any prenuptial agreement, shall be governed by what
regime of property relations? *

A. Absolute community of property

B. Conjugal partnership of gains

C. Absolute separation of property

D. Complete separation of property

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 59/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

118. When valuing a 20-year old building, the appraiser assigns it an age ···/1
of only 10 years because of the extreme care and maintenance made by
the owner. This is an example of _______________. *

A. Physical age

B. Chronological age

C. Actual age

D. Effective age

No correct answers

119. What Government entity has the power to monitor, investigate and ···/1
enforce compliance with the provisions of national laws and standards of
BP 220, whose implementation have been devolved to the local
government under Executive Order No. 71? *

A. Home Development Mutual Fund

B. National Home Mortgage Corporation

C. Department of Human Settlements and Urban Development

D. National Housing Authority

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 60/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

120. Pursuant to Republic Act Number 9700, when shall the beneficiary ···/1
start the payment of annual amortization? *

A. Within one year from the date of land ownership award registration

B. Within two years from the date of the certificate awarding

C. Within one year from the date of the certificate and land ownership award
registration

D. Within two years from the date of the certificate and land ownership award
registration

No correct answers

121. What is the percentage of the gross area of a subdivision projects ···/1
with a 176-200 density is allocated for parks and playground? *

A. 8

B. 6

C. 5

D. 7

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 61/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

122. Which refers to an area within a city/municipality principally for ···/1

institutional establishment like: home for the aged, retirement centers,
and the like? *

A. Special Economic Zone

B. Special Institutional Zone

C. Central Business District

D. Tourism Development Area

No correct answers

123. Which agricultural lands do not require conversion clearance? * ···/1

A. Those already classified as commercial, industrial or residential after June 5,

1988

B. Those already classified as commercial, industrial or residential before June

15, 1988

C. Those already classified as commercial, industrial, or residential before June 10,

1988

D. Those already classified as commercial, industrial, or residential after June 15,

1988

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 62/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

124. The following are the general standards included in the latest ···/1
version of the International Valuation Standards EXCEPT _____________. *

A. valuation approaches and methods

B. plant and equipment

C. reporting

D. bases of value

No correct answers

125. Is the systematic study of the origin, distribution, and significance of···/1
the major physical features of the earth such as landforms, climates,
topography, oceans, geographic arrangement of people and natural
resources and numerous other factors illustrate the role of the physical
elements as the backdrop of human behavior of their relationship to one
another. *

A. Physiology

B. Human Geography

C. Philology and Ecology

D. Physical Geography

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 63/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

126. Which refers to an imaginary lines of constant elevation or lines that ···/1
indicate variation in land elevation? *

A. Contour map

B. Contour line

C. Hachures

D. Bearing

No correct answers

127. In other areas outside NCR, San Jose del Monte City of Bulacan ···/1
Province, Cainta and Antipolo of Rizal Province, San Pedro City of
Laguna, Carmona and the Cities of Imus and Bacoor of Cavite Province,
what is the price ceiling for socialized condominium projects with an
area of 22 sqm.? *

A. P600,000

B. P750,000

C. P650,000

D. P700,000

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 64/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

128. Identify the estimated amount that an entity would currently obtain ···/1
from disposal of an asset, after deducting the estimated cost of
disposal, if the asset were already of the age and in the condition
expected at the end of its useful life. *

A. Recoverable amount

B. Revalued amount

C. Residual Value

D. Value in use

No correct answers

129. What is the basis of the tax rate on Capital Gain Tax? * ···/1

A. 6% of the contract price on the Deed of Absolute Sale.

B. 7.5% of the contract price on the Deed of Absolute Sale.

C. 6% of the contract price or zonal value or fair market value whichever is

higher.

D. 7.5% of the contract price or zonal value or fair market value whichever is higher.

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 65/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

130. Which basis of value refers to the estimated price for the transfer of ···/1
an asset or liability between identified, knowledgeable and willing
parties that reflects the respective interests of those parties? *

A. Equitable value

B. Investment value

C. Liquidation value

D. Synergistic value

No correct answers

131. How is appraisal fee determined? * ···/1

A. Stipulated or subsequent events and complexity

B. Time required to complete the appraisal assignment and the complexity

thereof

C. Time required to forecast the appraisal report and the complexity

D. Contingent event of the appraisal assignment and its complexity

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 66/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

132. PatAlice sold their principal resident for P12.0M and bought another ···/1
residence worth P9.5M. How much is the capital gains tax due? *

A. P0

B. P150,000

C. P140,000

D. P120,000

No correct answers

133. Rachel, a licensed real estate practitioner, committed a violation of ···/1

the Republic Act No. 9646 meted a fine of Php100,000. What is the fine
to be paid by Leah, who is NOT a licensed real estate practitioner, if she
commits the same violation? *

A. Php200,000

B. Php100,000

C. Php250,000

D. Php150,000

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 67/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

134. What is referred to as the total amount of money currently invested ···/1
in a business, regardless of the source, often reflected as the value of
total assets less current liabilities and cash? *

A. Operating

B. Total invested capital

C. Enterprise

D. Equity

No correct answers

135. What is the MINIMUM lot area in square meters of a single detached ···/1
type of housing in an economic housing project? *

A. 54

B. 72

C. 64

D. 48

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 68/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

136. The term "fee simple defeasible" is best described in which of the ···/1
following statements? *

A. The owner holds an estate in remainder

B. The owner holds a title subject to deed restrictions

C. The owner holds a less-than-freehold title

D. The owner holds a title without limitations.

No correct answers

137. Which refers to the right of the government to titular ownership of ···/1
property when its owner dies without a will or any statutory heir? *

A. Police power

B. Escheat

C. Eminent Domain

D. Taxation

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 69/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

138. Which is the MOST appropriate cost approach method to be used in ···/1
a situation where the cost of a modern equivalent asset is greater than
the cost of recreating a replica or the subject asset? *

A. Comparison

B. Reproduction

C. Replacement

D. Summation

No correct answers

139. The famous festival in Central Visayas is _________. * ···/1

A. Ati-atihan

B. Higantes

C. Hermosa

D. Sinulog

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 70/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

140. Real Estate Appraiser shall be honest and trustworthy and shall ···/1
observe ______________. *

A. objectivity, impartiality, fairness and loyalty

B. sincerity, impartiality, detachment and loyalty

C. sincerity, impartiality, fairness and loyalty

D. sincerity, impartiality, authenticity and loyalty

No correct answers

141. Which of the following should be made, to avoid any ···/1

misinterpretation, before the valuation is reported? I. Written
instructions should be received from the client insufficient details II.
Written instructions should be confirmed in writing by a Valuer
insufficient details *

A. II

B. I

C. I or II

D. I and II

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 71/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

142. Whether the Appraiser's fee is contingent or not in any aspect of ···/1
the report, the same should be disclosed. *

A. Sometimes

B. Not necessarily

C. Always

D. Most of the time

No correct answers

143. What law requires owner/developer to allocate 30% of total project ···/1
to roads, alleys, sidewalks, reserved open space for parks or recreation?
*

A. PD 8310

B. PD 1216

C. PD 2869

D. PD 1596

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 72/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

144. Choose from the following the economic factors affecting the ···/1
resources and efforts of people to achieve their social ideals. I. Natural
resources, quantity, location, rate of depletion II. Commercial and
industrial trends III. Employment trends and wage levels IV. Availability of
money and credit V. Price level interest rates, tax burdens VI. Other
factors affecting purchasing power. *

A. I, II, III, IV, VI

B. I, II, III, IV, V, VI

C. II, III, IV, V, VI

D. I, II, III, V, VI

No correct answers

145. Under BIR Revenue Regulation No. 4-2021, what is the new threshold ···/1
of VAT for the Lot only and lot packages? *

A. P1,500,000 and P2,000,000

B. P2,000,000 and P3,199,200

C. P1,500,000 and P2,500,000

D.P1,919,500 and P3,199,200

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 73/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

146. A mortgage which allows the borrower to increase payments in ···/1

advance without incurring pre-payment penalties is called _____. *

A. Equitable mortgage

B. Adjustable rate mortgage

C. Closed mortgage

D. Open mortgage

No correct answers

147. Value in use is determined by _________. * ···/1

A. None of the above

B. Computing the present value of future cash flows expected to be derived,

including proceeds from its disposal

C. estimating the market value based on the sales comparison approach

D. deriving the value by using the cost approach

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 74/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

148. Which of the following is NOT part of the market value definition? * ···/1

A. Payment is made in cash or cash equivalent terms

B. The property sells in 90 to 120 days

C. Both parties are well-informed

D. Buyer and seller are typically motivated.

No correct answers

149. Which refers to a tract of low-lying land usually under water? * ···/1

A. Seashore

B. Mangrove

C. Marsh Land

D. Horticultural

No correct answers

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 75/76
12/5/21, 6:21 PM 2021 REA Licensure Examination AM

150. Under the International Financial Reporting Standards (IFRS), the fair ···/1
value of plant, machinery and equipment is _________. I. usually, the
market value determined by the appraisal II. may be included on an
entity's balance sheet at either cost less depreciation less impairment or
at fair value at the date of revaluation less depreciation less impairment.
*

A. I or II

B. II

C. I and II

D. I

No correct answers

This content is neither created nor endorsed by Google. - Terms of Service - Privacy Policy

 Forms

https://docs.google.com/forms/d/e/1FAIpQLScO5TqVj2-XARRzDB-UtiiqmhIba4RgncDbEKBSkWO2L1kHiw/viewscore?viewscore=AE0zAgAcvi8jZ3… 76/76