CEBU Mock Exam From Glossary WITH Answers Copy 1
CEBU Mock Exam From Glossary WITH Answers Copy 1
CEBU Mock Exam From Glossary WITH Answers Copy 1
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
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
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
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
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
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
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
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
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
1. A mortgage containing a clause that permits the mortgagor to borrow money after the loan has been reduced
without rewriting the mortgage.
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
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
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
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
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
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
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
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
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
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
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
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
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
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%
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
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%
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% )
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
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
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
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)
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
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
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%
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
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. 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%
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%
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%
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
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
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.
i. Under PD957, the minimum lot area for open market housing :
i. For single detached housing
1. 80sqm. 2. 100sqm. 3. 120sqm. 4. 150sqm.
j. Under PD957, the minimum lot area for medium cost housing
i. For single detached housing
1. 80sqm. 2. 75sqm. 3. 120sqm. 4. 100sqm.
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