Real Estate Broker Online Review

Practice Exam Coverage :

Fundamentals of Property Ownership
Code of Ethics and Responsibilities
Legal Requirements for Real Estate Service (RA 9646/ IRR)
RA 9646 (full text)
RA 9646 IRR
Presentation – RA 9646/RESA Law
Real Estate Laws and Taxation (Agri Law, CARPER, RA 7160/ 8424, etc.)
RA 6657 – Comprehensive Agrarian Reform Law of 1988
RA 9700 CARPER Law
RA 7160 – Local Government Code
Capital Gains Tax (CGT)
Creditable Withholding Tax (CWT)
Value Added Tax (VAT)
Documentary Stamps Tax (DST)
Transfer Tax
Real Property Tax (RPT)
Donor’s Tax
Estate Tax
Subdivision Development (incl. PD 957, BP 220, RA 7279, etc.)
PD 957 – Subdivision and Condominium buyer’s Protective Decree)
PD 957 IRR
BP 220 – Socialized and Economic Housing
BP 220 IRR
RA 7279 – Urban Development and Housing Act of 1992
IRR Sec 18 of RA 7279
Condominium Concept and Other Types of Real Estate Holdings
RA 4726 – The Condominium Act
RA 7899 – An act amending The Condominium Act
RA 6552 (Maceda Law)/Realty Installment Buyer Protection Act
Documentation and Registration
PD 1529 – Property Registration Decree
Registering property
Real Estate Brokerage Practice
Real Estate Finance and Economics
Urban and Land Use
PD 1517 IRR – Urban Land Reform
Planning, Development, and Zoning
CLUP Guidebook
Basic Principles of Ecology
Basic Appraisal for Real Estate Brokers
Philippine Valuation Standards

15. Several adjustments have been suggested to the official budget deficit to be able to measure the effects of the budget deficit on the economy. For which of the following would the adjusted deficit be larger than the official budget deficit?
a. state and local budget surpluses need to be added to the official budget deficit
b. the effects of unemployment need to be taken out of the official budget deficit
c. the effects of inflation need to be taken out of the official budget deficit
d. off-budget spending needs to be added to the official budget deficit

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14. BP 220 use of ladders may be allowed provided that the maximum distance between landings shall be
a. 2.00 meters
b. 1.50 meters
c. 1.75 meters
d. 1.80 meters

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13. BP 220 width of stairways shall have a minimum clear width of
a. .30 meters
b. .40 meters
c. .50 meters
d. .60 meters

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12. Mezzanine floor in Socialized housing shall have a clear height of not less than____ above and below it, provided that it shall not cover____ of the floor area below it.
a. 1.50 meters and 60%
b. 1.80 meters and 50%
c. 2.00 meters and 25%
d. 1.75 meters and 75%

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11. The documentary stamp on every mortgage or pledge of real estate is:
A. P20.00 for the 1st P5,000.00 plus P10.00 for every P5,000.00 thereafter
B. P10.00 for every P5,000.00 or fraction thereof
C. P15.00 for every P5,000.00 or fraction thereof
D. P2.00 on each P200.00 or fraction thereof

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10. Mr. Angelo Buenavista has a 3 storey residential house at forbes Parkview, observing the condition for three straight years he has found out that his house incurred severe termite damage thru its structure, what category of depreciation that he has encountered?
A. Physical deterioration—curable
B. Physical deterioration—long-lived incurable
C. Functional obsolescence—curable
D. None of the above

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9. You were estimating a 15 years old building and looking it at a distance around 57 meters and on the top of the building has a broken gutter for storm drainage pipe, which is 55 degrees angle of elevation from your orientation. What is the estimated height of the building?
A. 75 meters
B. 80 meters
C. 90 meters
D. 95 meters

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8. Real Estate Holdings., is planning to assume Real Estate project of Systems Engineering Corp. for P100,000,000.00 that will generate a net cash revenues of P12,000,000.00 per year based on the study of Goldman Investment firm, with a statutory tax rate is 30%. What would be the length of time to recover the investment or its payback period?
a. 5 years and 10 months
b. 7 years and 8 months
c. 11 years and 10 months
d. 12 years and 6 months

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7. Gerardo died on July 31, 2011. His estate tax return should be filed within
A. six months from filing of the notice of death.
B. sixty days from the appointment of an administrator.
C. six months from the time he died on July 31, 2011.
D. sixty days from the time he died on July 31, 2011.

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7. Determine the net taxable estate with the following conditions, decedent was single at the time of death in the Philippines.
Real properties 7,000,000.00
Proceeds of life insurance 300,000.00
Medical expense paid at the time of death 600,000.00
Funeral expenses 200,000.00
Obligations and claims against the estate 1,000,000.00
Unpaid Real property tax at the City Assessor 500,000.00
a.4,100,000.00
b.4,500,000.00
c. 4,600,000.00
d.5,100,000.00

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6. Henry purchase a piece of land in Antipolo for 800,000.00 and later sold it at 1,200,000.00. the Tax declaration value of the land is 1,000,000.00, in the vicinity where the property is located with the same area of the land was recently sold for 2,000,000.00 and the zonal value of henry’s property is 1,500,000.00 as per BIR computation. How much is the capital gain tax.
a. 48,000.00
b. 72,000.00
c. 90,000.00
d. 120,000.00

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