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Assessment Test I: (20 multiple choice questions)
1. The following are freehold estate, EXCEPT:
a) Fee simple
b) Fee simple absolute
c) Life estate
d) Estate for years

2. Bundle of rights are the following, EXCEPT:

a) Right to possess
b) Right to return of investment
c) Right to dispose and control
d) Right to use and enjoy

3. Includes all the rights, interest and benefits related to the ownership.
a) Real estate
b) Real property
c) Immovable property
d) Estate

4. Where can you find the general property and ownership laws of the Philippines?
a) RA 386
b) BP 220
c) PD 957
d) RA 9646

5. Purpose of police power

a) To prevent people from committing crimes
b) To make sure the property owners and citizens know their place.
c) For the government to control all real estate and properties.
d) To protect the health, safety and welfare of the community.

6. Those produced by lands of any kind through cultivation or labor.

a) Civil fruits
b) Industrial fruits
c) Natural fruits
d) None of the above

7. Mixed-used building when sold is classified as:

a) Capital Asset
b) Ordinary Asset
c) Mixed Asset
d) Fixed Asset

8. The concept that if you are an owner of a parcel of land you must promote not your interest
but also the general welfare is referred to as:
a) Concept of fee simple
b) Principle of Ethics
 c) Steward Concept of ownership
d) Res Nullius

9. This comes from a Greek word simply meaning 'living together' and can be used to describe
any association between two organisms.
a) Symbiosis
b) Mutualism
c) Parasitism
d) Commensalism

10. A term that describes a non living factor in an environment.

a) Biotic
b) Symbiosis
c) Niche
d) Abiotic

11. All real estate service practitioners are automatically members of the single accredited
professional organization known as:
a) Integrated Professional Association
b) Accredited and integrated professional association
c) Accredited and integrated professional organization
d) Accredited professional organization

12. In the national code of ethics, the golden rule states that:
a) Treat yourself as you want others to treat you.
b) Do unto others as you do not want others to do unto you.
c) Treat others as you like them to treat you.
d) Do unto others the things you want others to do unto them

13. The following statements are not true EXCEPT:

a) Ascertain all facts concerning every property, avoid error, exaggeration, misrepresentation
or concealment of pertinent facts.
b) Cooperate with government in increasing taxation and protecting the government against
deceptive representation.
c) Abet, tolerate and participate in the evasion or illegal reduction in the payment of all taxes,
fees, due to the advantage of the general public.
d) Secure all the necessary licenses, permits from the DTI and other agencies after
practicing.

14. A duly registered and licensed natural person who works in a local government unit and
performs appraisal and assessment of real properties, including plants, equipment, and
machineries, essentially for taxation purposes.
a) Real Estate Appraiser
b) Real Estate Broker
c) Real Estate Valuer
d) None of the above

15. According to RA 9646, the "Board" is referred to:

a) Board Exam
 b) PRBRES
c) AIPO
d) PRC

16. SEF is an additional ____% added to the basic realty tax:

a) 3
b) 2
c) 1
d) 0.5

17. Natural born filipino citizens can acquire private lands:

a) With a limitation of 12 hectares
b) According to RA 8532, only up to 5 hectares of agricultural land
c) With no limitation
d) Both A and B

18. Mr. Limtanke is an employee of ABC Developer and receives several benefits apart from his
basic salary. Which of the following is subject to income tax?
a) Housing allowance not exceeding P3,000 per month
b) Gifts during Christmas, major anniversary, not exceeding P5,000 per employee per
annum
c) Daily meal allowance not exceeding 25% of the basic minimum wage on a per region
basis
d) None of the above

19. Tax paid by one who conveys property or gift to another without a consideration.
a) Estate tax
b) Transfer tax
c) Capital gain tax
d) Donor's tax

20. The execution by the sheriff to satisfy judgement in the foreclosure of mortgaged property.
a) Expropriation
b) Escheat
c) Condemnation
d) Liquidation