Philippine Code Of Ethics For Real Estate Practitioners! Trivia Quiz
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- 1.
There is a Professional Regulatory Board of Real Estate Service, to be chosen from 3 recommendees, chosen by the commission from a list submitted by the accredited and integrated professional organization of real estate service practitioner as follows
- A.
Three (3) nominees per position
- B.
Five (5) nominees per position
- C.
Ten (10) nominees per position
- D.
Two (2) nominees per position
Correct Answer
B. Five (5) nominees per positionExplanation
The correct answer is "Five (5) nominees per position". This means that for each position in the Professional Regulatory Board of Real Estate Service, there will be five recommended individuals to choose from. This ensures that there is a pool of qualified candidates to select from, increasing the chances of finding the most suitable person for the position. Having multiple nominees per position also allows for a fair and transparent selection process, as it provides a variety of options and prevents any bias or favoritism towards a single candidate.Rate this question:
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- 2.
A broker has just received from a fellow broker’ client a written offer to purchase a property of his seller , together with a check for earnest money payment. Which of the following steps is the most proper and ethical for him to take
- A.
Call another fellow broker whose client is also interested in the property to improve the offer
- B.
Call the seller immediately to inform him about the offer and submit both the written offer and the earnest money payment
- C.
Show the offer to another prospective buyer in the hope of getting a better price for the seller
- D.
Reject the first offer outright based on his opinion that the offered price is too low
Correct Answer
B. Call the seller immediately to inform him about the offer and submit both the written offer and the earnest money paymentExplanation
The most proper and ethical step for the broker to take is to call the seller immediately to inform them about the offer and submit both the written offer and the earnest money payment. This ensures transparency and allows the seller to make an informed decision about the offer. By promptly notifying the seller and submitting the offer, the broker is acting in the best interest of their client and following ethical practices in the real estate industry.Rate this question:
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- 3.
Corporations or partnership are entitled to acquire land in the Philippines provided that it is
- A.
Not more than 1000 has
- B.
Not more than 40% foreign capital
- C.
Not more than 5 hectares
- D.
Not more than 1 hectare for residential land
Correct Answer
B. Not more than 40% foreign capitalExplanation
Corporations or partnerships are allowed to purchase land in the Philippines as long as the amount of foreign capital involved does not exceed 40%. This means that the majority of the capital used to acquire the land must be Filipino-owned or sourced domestically. This restriction is in place to ensure that the ownership and control of land in the country remains primarily in the hands of Filipino citizens or entities.Rate this question:
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- 4.
The Code of Ethics covering practitioner under DTI then is referred to as
- A.
National Code of Ethics for the Realty Service Practice
- B.
National Code of Ethics for Practitioner
- C.
Code of Ethics for the Service Practice
- D.
Code of Ethics and Responsibilities
Correct Answer
A. National Code of Ethics for the Realty Service PracticeExplanation
The correct answer is National Code of Ethics for the Realty Service Practice. This is because the question is asking for the specific code of ethics that covers practitioners under DTI (Department of Trade and Industry). The term "Realty Service Practice" indicates that it is specifically related to the real estate industry, which aligns with the context of the question.Rate this question:
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- 5.
The following properties are exempted from real estate taxes, except:
- A.
Real property owned by the Republic of the Philippines
- B.
All lands, buildings and improvements actually, directly and exclusively used for charitable, religious or educational purposes
- C.
Private cemeteries or burial grounds
- D.
. Machineries and equipment that are actually, directly and exclusively used by local water district and government owned or controlled corporations engaged in the supply of water an/or generation of electric power
Correct Answer
C. Private cemeteries or burial groundsExplanation
Private cemeteries or burial grounds are not exempted from real estate taxes. This means that owners of private cemeteries or burial grounds are required to pay real estate taxes. On the other hand, the other properties listed in the options are exempted from real estate taxes. Real property owned by the Republic of the Philippines, lands, buildings, and improvements used for charitable, religious, or educational purposes, and machineries and equipment used by local water districts and government-owned or controlled corporations engaged in water supply or power generation are all exempted from real estate taxes.Rate this question:
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- 6.
A foreigner may be allowed to own the following properties in the Philippines except
- A.
Residential condominium unit
- B.
Commercial Office condominium unit
- C.
House and lot
- D.
. House built on leased land
Correct Answer
C. House and lotExplanation
A foreigner may be allowed to own a residential condominium unit, a commercial office condominium unit, and a house built on leased land in the Philippines. However, they may not be allowed to own a house and lot, which refers to a property that includes both the land and the house on it. This restriction may be in place to protect the ownership of land by Filipino citizens and to prevent foreign ownership of large tracts of land in the country.Rate this question:
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- 7.
For one to become a dual citizen, he or she must file a petition for dual citizenship in the Philippines with this government agency
- A.
Department of Foreign Affairs
- B.
Philippine Embassy
- C.
Bureau of Civil Registry
- D.
Bureau of Immigration
Correct Answer
D. Bureau of ImmigrationExplanation
To become a dual citizen in the Philippines, one must file a petition with the Bureau of Immigration. This government agency is responsible for handling immigration-related matters, including the granting of dual citizenship. They have the authority to process and approve applications for individuals who wish to become dual citizens, allowing them to enjoy the benefits and privileges of both Philippine and foreign citizenship. The Bureau of Immigration ensures that the necessary requirements and procedures are followed, making it the correct agency to approach for dual citizenship applications.Rate this question:
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- 8.
The affidavit of waiver required of a foreigner who is married to a Filipina to register the sale with
- A.
A valid requirement of the Register of Deeds
- B.
Void
- C.
Voidable
- D.
Required only if the foreigner is a husband
Correct Answer
B. VoidExplanation
The given answer "Void" suggests that the affidavit of waiver required of a foreigner who is married to a Filipina to register the sale is invalid or null. This implies that the requirement of the Register of Deeds for the affidavit of waiver is not legally binding or enforceable. Therefore, the foreigner may not be obligated to provide this document for the registration of the sale.Rate this question:
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- 9.
The best evidence of ownership of a condominium unit is
- A.
Tax declaration of the condo unit
- B.
Condominium Certificate of Title
- C.
Transfer Certificate of Title
- D.
Contract to sell on the unit
Correct Answer
B. Condominium Certificate of TitleExplanation
The best evidence of ownership of a condominium unit is the Condominium Certificate of Title. This document serves as proof that the individual or entity named on the certificate is the legal owner of the unit. It contains important information such as the unit number, boundaries, and the percentage of ownership in the common areas of the condominium. The Condominium Certificate of Title is issued by the appropriate government agency and provides a clear and official record of ownership, making it the most reliable evidence in establishing ownership of a condominium unit.Rate this question:
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- 10.
The Family code of the Philippines became effective on
- A.
August 3, 1988
- B.
August 3, 1996
- C.
August 8, 1988
- D.
August 1, 1988
Correct Answer
A. August 3, 1988Explanation
The correct answer is August 3, 1988. This is the date on which the Family code of the Philippines became effective.Rate this question:
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- 11.
In case of acquisition of a condo unit by a former natural born citizen who has become a foreigner, it is required that
- A.
Execute a sworn statement under BP 185
- B.
Must become a dual citizen
- C.
Not used in buy and sell of property
- D.
Not more than 40% of the units
Correct Answer
D. Not more than 40% of the unitsExplanation
When a former natural born citizen acquires a condo unit and becomes a foreigner, it is required that they do not acquire more than 40% of the units in the condominium. This means that they cannot own a majority or controlling stake in the condominium building. This rule is likely in place to ensure that the ownership of the condominium remains diverse and not concentrated in the hands of foreign individuals.Rate this question:
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- 12.
The board, in coordination with the AIPO of real estate service practitioners, shall prepare, update, and maintain a roster of real estate service practitioners which shall contain the following information, except
- A.
Names of all registered real estate service practitioners
- B.
Field of specialization in real estate service
- C.
Their residence and office addresses
- D.
License numbers
Correct Answer
B. Field of specialization in real estate serviceExplanation
The given answer is "field of specialization in real estate service". This means that the roster of real estate service practitioners will contain all the information mentioned except for their field of specialization. The board, in coordination with the AIPO, will prepare, update, and maintain this roster which will include the names of all registered practitioners, their residence and office addresses, and license numbers.Rate this question:
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- 13.
It is the conveyance of the right to enjoy the fruits of the property by a person
- A.
Contract of lease
- B.
Usufruct
- C.
Right of way
- D.
Sale of property
Correct Answer
B. UsufructExplanation
Usufruct is the correct answer because it refers to the conveyance of the right to enjoy the fruits of a property by a person. Usufruct is a legal term that grants someone the temporary right to use and benefit from a property without owning it. This can include the right to collect rent, use the property for agricultural purposes, or receive income from its resources. It is a limited right that allows the person to enjoy the property's benefits but does not transfer ownership.Rate this question:
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- 14.
In case of a city, the basic tax it may charge for real estate taxes shall be
- A.
Not exceeding 1% of the assessed value
- B.
Not exceeding 1% of the fair market value
- C.
Not exceeding 2% of the fair market value
- D.
Not exceeding 2% of the assessed value
Correct Answer
D. Not exceeding 2% of the assessed valueExplanation
The correct answer is "Not exceeding 2% of the assessed value." This means that a city can charge a tax on real estate that is calculated based on a percentage of the assessed value of the property. However, the tax cannot exceed 2% of the assessed value. This limit ensures that the tax burden on property owners does not become too high and provides a cap on the maximum amount that can be charged.Rate this question:
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- 15.
The following may be used as evidence or proof of ownership of one’s land, except
- A.
Tax declaration
- B.
Realty tax receipts
- C.
Deed of sale
- D.
Lot plan
Correct Answer
D. Lot planExplanation
A lot plan is not a valid evidence or proof of ownership of one's land. While a lot plan is a document that shows the boundaries and measurements of a property, it does not establish ownership. Ownership is typically proven through documents such as a tax declaration, realty tax receipts, and a deed of sale, which provide legal proof of ownership and transfer of the property.Rate this question:
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- 16.
Under the IRR of RESA, those who had passed the DTI licensure examinations in 2006 and prior years but who had failed to obtain their license upon the effectivity of R.A. No. 9646 may still register without examinations provided they have earned CEP or CPE units as follows
- A.
120 CEP or CPE credit units
- B.
12 CEP or CPE credit units
- C.
24 CEP or CPE credit units
- D.
18 CEP or CPE credit units
Correct Answer
A. 120 CEP or CPE credit unitsExplanation
The correct answer is 120 CEP or CPE credit units because under the IRR of RESA, those who had passed the DTI licensure examinations in 2006 and prior years but failed to obtain their license upon the effectivity of R.A. No. 9646 can still register without examinations if they have earned 120 CEP or CPE credit units. This means that individuals who have completed the required number of CEP or CPE credit units are eligible to register without having to take the licensure examinations.Rate this question:
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- 17.
The right to own land in the Philippines is governed by the 1987 PhilippineConstitution. In addition it may also be governed by:
- A.
Executive Order of the President
- B.
Special Laws of the Legislature
- C.
House Bills in Congress
- D.
Special Exemption Orders
Correct Answer
B. Special Laws of the LegislatureExplanation
The right to own land in the Philippines is governed by the 1987 Philippine Constitution. However, in addition to the constitution, the right to own land may also be regulated by special laws passed by the legislature. These special laws can provide further guidelines and regulations regarding land ownership in the country. It is important to consider these special laws alongside the constitution to have a comprehensive understanding of the rights and restrictions related to land ownership in the Philippines.Rate this question:
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- 18.
The principle that states that “All lands of the public domain belong to the State” is referred to as
- A.
State land doctrine
- B.
Public Domain doctrine
- C.
Nationality doctrine
- D.
Regalian doctrine
Correct Answer
D. Regalian doctrineExplanation
The Regalian doctrine is the principle that states that all lands of the public domain belong to the State. This doctrine asserts that the State is the ultimate owner of all lands and resources within its jurisdiction, and individuals only have rights to use or possess these lands through the State's grant or permission. The Regalian doctrine is based on the concept of sovereignty and is often applied in countries with a civil law tradition. It ensures that the State has control over the use and management of its lands for the benefit of the public.Rate this question:
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- 19.
As a real estate practitioner, we should but not:
- A.
Willingly share the lessons and experiences with fellow brokers
- B.
Solicit a listing currently listed exclusively with another brokers
- C.
Pass a listing to a third broker without the knowledge and consent of the listing broker
- D.
Put sign or notice of a property for sale without authority from the owner
Correct Answer
A. Willingly share the lessons and experiences with fellow brokersExplanation
Real estate practitioners should not willingly share lessons and experiences with fellow brokers. This is because the knowledge and experiences gained in the real estate industry are valuable assets that can give a competitive advantage. Sharing them with other brokers may diminish this advantage and potentially benefit competitors. It is important for practitioners to maintain a level of professionalism and discretion in order to protect their own interests and those of their clients.Rate this question:
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- 20.
Private corporations and associations may hold such alienable lands of the public domain only by lease, not to exceed a total area of
- A.
1,000 has
- B.
500 has
- C.
12 has
- D.
3 has
Correct Answer
A. 1,000 hasExplanation
Private corporations and associations are allowed to hold alienable lands of the public domain, but only through lease. The maximum total area that they can hold is 1,000 hectares. This means that they cannot own the land outright, but can only lease it for a certain period of time. This restriction is in place to ensure that the public domain remains accessible to the general public and not concentrated in the hands of a few private entities.Rate this question:
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- 21.
The national integrated organization of natural persons duly registerednand licensed as Real Estate Service Practitioners is called
- A.
Accredited Practitioners Organization
- B.
Integrated and Accredited Professional Practitioners
- C.
Accredited and Integrated Professional Organization
- D.
Accredited and Integrated National Organization
Correct Answer
B. Integrated and Accredited Professional PractitionersExplanation
The correct answer is "Integrated and Accredited Professional Practitioners." This answer accurately describes the national integrated organization of natural persons who are registered and licensed as Real Estate Service Practitioners. The organization is both integrated, meaning it brings together professionals from various backgrounds, and accredited, indicating that its members have met certain standards and qualifications.Rate this question:
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- 22.
The power of the state to regulate the use of one’s property is referred to as
- A.
Escheat
- B.
Eminent domain
- C.
Police power
- D.
Power to issue permit
Correct Answer
C. Police powerExplanation
Police power refers to the authority of the state to regulate and control various aspects of public life, including the use of one's property, in order to promote public health, safety, and welfare. This power allows the government to enact and enforce laws, regulations, and zoning restrictions that may limit or regulate the use of private property. Escheat refers to the transfer of property to the state when the owner dies without a will or any eligible heirs. Eminent domain refers to the government's power to take private property for public use, with fair compensation to the owner. The power to issue permits is a separate authority that grants permission for specific activities or uses of property.Rate this question:
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- 23.
In determining the value of the building and the tax declaration being presented wasissued 3 or more years, the seller shall submit the following to the BIR
- A.
An updated tax declaration
- B.
The latest tax declaration
- C.
Certificate from the Assessor whether the same is still the latest or not
- D.
Certification of improvement by the Assessor
Correct Answer
C. Certificate from the Assessor whether the same is still the latest or notExplanation
The correct answer is "Certificate from the Assessor whether the same is still the latest or not." This is because when determining the value of a building and the tax declaration being presented was issued 3 or more years ago, it is important to verify if the tax declaration is still the latest one. The certificate from the Assessor will confirm whether there have been any updates or changes to the tax declaration since it was issued. This ensures that the most accurate and up-to-date information is being used for determining the value of the building and calculating the taxes.Rate this question:
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- 24.
The right given to an owner of an adopting land to pass or have access thru another land is called
- A.
Right of way easement
- B.
Right of way passage
- C.
Right of way for people
- D.
Right of way encroachment
Correct Answer
A. Right of way easementExplanation
Right of way easement refers to the legal right granted to a landowner to pass through or have access to another person's land. This right allows the landowner to use a specific pathway or route on the neighboring property for various purposes, such as transportation or utility access. The term "easement" signifies the non-possessory interest or right that one party has over another's property. Therefore, the correct answer is Right of way easement.Rate this question:
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- 25.
The best evidence of ownership in fee simple is the transfer certificate of title because it is imprescriptible and
- A.
Indefeasible
- B.
With original copy in the Register of Deeds
- C.
Issued by the Register of Deeds
- D.
Signed by the Register of Deeds
Correct Answer
A. IndefeasibleExplanation
The transfer certificate of title is the best evidence of ownership in fee simple because it is indefeasible. This means that once it is issued by the Register of Deeds and signed by them, it cannot be challenged or revoked. Additionally, the fact that it has an original copy in the Register of Deeds further strengthens its validity and authenticity. Therefore, the transfer certificate of title is the most reliable proof of ownership in fee simple.Rate this question:
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- 26.
Under BP 185, urban land shall be land located in
- A.
Urban areas
- B.
Commercial areas
- C.
Residential subdivisions
- D.
Central business district areas
Correct Answer
A. Urban areasExplanation
Under BP 185, urban land refers to land located in urban areas. Urban areas are typically characterized by a high population density, extensive infrastructure, and various economic activities. This can include residential subdivisions, commercial areas, and central business district areas. Therefore, the correct answer is urban areas as it encompasses all the mentioned options and aligns with the definition provided by BP 185.Rate this question:
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- 27.
No deed of conveyance in favor of a transferee under Batas Pambansa Blg. 185 unles accompanied shall be registered by the Register of Deeds unless accompanied by a sworn statement showing the following except:
- A.
Names and addresses of his parents, of his spouse and children, if any
- B.
Area, location and mode of acquisition of his landholdings in the Philippines, if any
- C.
His intention to reside permanently in the Philippines
- D.
How the transferee became a foreigner
Correct Answer
D. How the transferee became a foreignerExplanation
The correct answer is "how the transferee became a foreigner". This is because the given statement requires a sworn statement to be registered by the Register of Deeds for a deed of conveyance under Batas Pambansa Blg. 185. The sworn statement must show various details, including the names and addresses of the transferee's parents, spouse, and children, if any; the area, location, and mode of acquisition of the transferee's landholdings in the Philippines, if any; and the transferee's intention to reside permanently in the Philippines. However, it does not require an explanation of how the transferee became a foreigner.Rate this question:
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- 28.
A person can be said to be a Filipino citizen presently, if the person is, except
- A.
Born of Filipino father
- B.
A dual citizen under RA 9225
- C.
Declared a Filipino citizen by the President
- D.
A naturalized Filipino
Correct Answer
C. Declared a Filipino citizen by the PresidentExplanation
If a person is declared a Filipino citizen by the President, it means that they have been granted citizenship through a special declaration or decree made by the President of the Philippines. This is an exceptional case where the President has the authority to confer citizenship to an individual. Therefore, if a person falls under this category, they can be considered a Filipino citizen presently.Rate this question:
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- 29.
The PRBRES shall have the power to prescribe guidelines and criteria for this requirement for real estate service practitioners in consultation with the accredited and integrated professional organization of real estate service practitioners
- A.
Continuing Professional Education
- B.
Continuing Education for Professionals
- C.
Continuing Education Program
- D.
Continuing Practitioners Education
Correct Answer
A. Continuing Professional EducationExplanation
The correct answer is Continuing Professional Education. The given statement mentions that the PRBRES (Professional Regulatory Board of Real Estate Service) has the power to prescribe guidelines and criteria for a requirement related to education for real estate service practitioners. This implies that there is a need for ongoing education and development in the field of real estate, which is commonly referred to as Continuing Professional Education.Rate this question:
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- 30.
At what age may a person buy and sell property on his or her own
- A.
18 years old
- B.
18 years old with the consent of the parents
- C.
18 years old with legal guardian
- D.
21 years old
Correct Answer
A. 18 years oldExplanation
A person may buy and sell property on their own at the age of 18. This is the legal age of adulthood in many countries, where individuals are considered capable of making independent decisions and entering into contracts without the need for parental consent or a legal guardian. At 18 years old, individuals have the legal capacity to handle their own financial affairs, including buying and selling property.Rate this question:
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- 31.
The following property relations may be agreed upon in the marriage settlement, except
- A.
Relative Community of Property
- B.
Separation of Conjugal Property
- C.
Conjugal Partnership of Gains
- D.
Absolute Community of Property
Correct Answer
B. Separation of Conjugal PropertyExplanation
The given options represent different types of property relations that can be agreed upon in a marriage settlement. Relative Community of Property, Conjugal Partnership of Gains, and Absolute Community of Property are all valid property relations that can be chosen in a marriage settlement. However, Separation of Conjugal Property is not a valid property relation that can be agreed upon in a marriage settlement.Rate this question:
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- 32.
In case of non-redemption of the property foreclosed extrajudicially by the bank, when is the deadline to pay the capital gains tax by the highest bidder
- A.
Within 30 days from auction sale
- B.
Within 30 days from registration of certificate of sale
- C.
Within 30 days from expiration of certificate of sale
- D.
Within 30 days from notarization of the certificate of sale
Correct Answer
C. Within 30 days from expiration of certificate of saleExplanation
The correct answer is "Within 30 days from expiration of certificate of sale". When a property is foreclosed extrajudicially by the bank and not redeemed, it is eventually sold to the highest bidder. The certificate of sale is issued to the highest bidder, and it has an expiration date. The deadline to pay the capital gains tax is within 30 days from the expiration of the certificate of sale. This means that the highest bidder has 30 days from the expiration date to fulfill their tax obligations.Rate this question:
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- 33.
An applicant for the licensure examination for real estate consultants must show proof that he/she has experience as a licensed real estate appraiser for at least
- A.
Five (5) years
- B.
Ten (10) years
- C.
Fifteen (15) years
- D.
Three (3) years
Correct Answer
A. Five (5) yearsExplanation
The correct answer is Five (5) years. To become a licensed real estate consultant, an applicant must have experience as a licensed real estate appraiser for at least five years. This requirement ensures that the applicant has a solid understanding of the real estate industry and has gained sufficient experience in appraising properties. It also demonstrates that the applicant has the necessary skills and knowledge to provide professional advice and guidance to clients as a real estate consultant.Rate this question:
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- 34.
Under the Code of Ethics, the following is considered ethical,
- A.
Negotiate a property listed directly with the owner
- B.
Cooperate with other broker on property listed even if not licensed
- C.
Willingly share with other brokers the lesson from his experience and study
- D.
Inform and criticize among fellow brokers another broker who is not handling the sale properly
Correct Answer
C. Willingly share with other brokers the lesson from his experience and studyExplanation
The correct answer is "Willingly share with other brokers the lesson from his experience and study." This is considered ethical under the Code of Ethics because it promotes collaboration and the sharing of knowledge within the real estate industry. By willingly sharing lessons from their experience and study, brokers can help each other improve their skills and knowledge, ultimately benefiting the profession as a whole.Rate this question:
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- 35.
The Board shall not register and issue a certificate of any successful examinee on the following ground, except
- A.
Convicted by a court of any criminal offense involving moral turpitude
- B.
Found guilty by the association of violation of the code of ethics
- C.
Found guilty of immoral or dishonorable conduct after investigation by the Board
- D.
Has been found to be psychologically unfit
Correct Answer
B. Found guilty by the association of violation of the code of ethicsExplanation
The correct answer is "found guilty by the association of violation of the code of ethics." This means that the Board will not register and issue a certificate to any successful examinee who has been found guilty by the association of violating the code of ethics. This suggests that the Board places a strong emphasis on ethical conduct and expects its members to adhere to a certain standard of behavior.Rate this question:
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- 36.
When a licensed broker accepts listing from a fellow practitioner, the following should be followed, except
- A.
The agency of the listing broker should be respected perpetually in all dealings with his client/principal
- B.
The agency of the broker who offers the listing should be respected until the owner, without solicitations, offers to list with him
- C.
The listing should not be passed to a third broker without the knowledge and consent of the listing broker
Correct Answer
A. The agency of the listing broker should be respected perpetually in all dealings with his client/principalExplanation
The correct answer is that the agency of the listing broker should be respected perpetually in all dealings with his client/principal. This means that the listing broker's authority and relationship with the client/principal should be honored and maintained throughout the duration of the listing agreement. The other options mentioned in the question are all correct and should be followed, but this particular option is the exception.Rate this question:
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- 37.
The results of the licensure examination shall be released by the Board from the last day of the examination within
- A.
Five (5) days
- B.
Ten (10) days
- C.
Fifteen (15) days
- D.
One (1) month
Correct Answer
B. Ten (10) daysExplanation
According to the given information, the results of the licensure examination will be released by the Board within ten (10) days from the last day of the examination. This means that the candidates who appeared for the examination can expect to receive their results within ten days after they have completed the exam.Rate this question:
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- 38.
Which of the following acts of a broker can be considered within the bounds of the code of ethics?
- A.
Encouraging the parties to a sale to indicate a consideration which is lower than the actual price
- B.
Serving as a witness in court proceedings involving property owned by his client
- C.
Criticizing the acts of another broker who does not know how to handle the transaction
- D.
Delaying the submission of a formal ofer that he had received from a prospective buyer
Correct Answer
B. Serving as a witness in court proceedings involving property owned by his clientExplanation
Serving as a witness in court proceedings involving property owned by his client is considered within the bounds of the code of ethics because it is a legitimate action that supports the client's interests and does not involve any unethical behavior.Rate this question:
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- 39.
Which one of the following newspaper line ads is blatantly unethical?
- A.
“HOUSE ON A VERY QUIET NEIGBORHOOD"
- B.
“WITH 24 HOURS SECURITY GUARDS”
- C.
“THE VALUE OF THIS PROPERTY WILL INCREASE IN ONE YEAR!”
- D.
“COOL WEATHER!”
Correct Answer
C. “THE VALUE OF THIS PROPERTY WILL INCREASE IN ONE YEAR!”Explanation
This newspaper line ad is blatantly unethical because it makes a false claim about the future value of the property. It is misleading potential buyers by promising an increase in value within a specific timeframe, which cannot be guaranteed. This ad is intentionally deceiving customers and manipulating their decision-making process based on false information.Rate this question:
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- 40.
The Board shall also prescribe the essential requirements as to the curricula and facilities of schools, colleges or universities seeking permission to open academic courses or already offering such courses in real estate service, in cooperation with
- A.
Commission on Higher Education
- B.
Department of Education and Culture
- C.
National Association of Real Estate Service Practitioners
- D.
Philippine Association of Schools and Colleges
Correct Answer
A. Commission on Higher EducationExplanation
The Commission on Higher Education is responsible for prescribing the essential requirements for the curricula and facilities of schools, colleges, or universities offering academic courses in real estate service. They work in cooperation with other organizations such as the Department of Education and Culture, the National Association of Real Estate Service Practitioners, and the Philippine Association of Schools and Colleges. These organizations collaborate to ensure that the academic courses in real estate service meet the necessary standards and provide quality education to students.Rate this question:
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- 41.
The following are some of the subjects in the examination for real estate brokers, except:
- A.
Condominium concept and other type of real estate holdings
- B.
Real estate finance and economics
- C.
Basic principles of ecology
- D.
Land management and real property laws
Correct Answer
D. Land management and real property lawsExplanation
This answer is correct because the question asks for subjects that are not included in the examination for real estate brokers. The other three options - condominium concept and other types of real estate holdings, real estate finance and economics, and basic principles of ecology - are all subjects that are included in the examination. However, land management and real property laws are not listed as subjects in the examination.Rate this question:
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- 42.
The real estate broker takes the following steps as a licensed broker. Which of these actions can be considered unethical?
- A.
He accepted an exclusive listing for an abandoned house and lot even with his knowledge that somebody died violently in the property
- B.
He proceeds to entertain prospective buyers all the while disclosing to them the crime committed inside the property.
- C.
He also advertised the listing giving the exact address for an open house on one weekend
- D.
He invites his friends to attend the open house hoping that real buyers will feel that there are many others interested in the property
Correct Answer
D. He invites his friends to attend the open house hoping that real buyers will feel that there are many others interested in the propertyExplanation
Inviting friends to attend the open house with the intention of creating a false sense of interest among potential buyers can be considered unethical. This action can deceive potential buyers by giving them the impression that there is high demand for the property when in reality there may not be. This can lead to buyers making rushed decisions or paying more than the property is worth. It goes against the principles of transparency and honesty that are expected of a licensed real estate broker.Rate this question:
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- 43.
Every applicant seeking to be registered and licensed as a real estate service practitioner shall undergo an examination to be given by the Board as provided for in R.A. No. 9646, except
- A.
Real Estate Salesperson
- B.
Real Estate broker
- C.
Real Estate assessor
- D.
Real Estate appraiser
Correct Answer
A. Real Estate SalespersonExplanation
The correct answer is "Real Estate Salesperson". According to the given information, every applicant seeking to be registered and licensed as a real estate service practitioner must undergo an examination. However, the exception to this requirement is for individuals who want to become Real Estate Salespersons. Therefore, Real Estate Salespersons do not need to undergo the examination mentioned in R.A. No. 9646.Rate this question:
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- 44.
The Declaration of Principles of the Code of Ethics for Realty Service Practitioner clearly states the Golden Rule which says
- A.
"Treat others as you want them to be treated"
- B.
"Do not do unto others what you want others do unto you"
- C.
"Do unto others what youdo not want others do unto you"
- D.
"Treat others as you like them to treat you"
Correct Answer
D. "Treat others as you like them to treat you"Explanation
The correct answer is "Treat others as you like them to treat you." This answer accurately reflects the Golden Rule, which emphasizes treating others with respect and kindness, just as we would like to be treated ourselves. It promotes empathy and encourages individuals to consider the feelings and needs of others in their actions and interactions.Rate this question:
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- 45.
The provisions of R.A. No.9646 and the IRR as to engaging in real state service practice shall not apply to the following, but to someone who is:
- A.
A person, natural or judicial, who shall directly perform by himself/herself the acts mentioned in Section 3 hereof with reference to his/her own property, except real state developers
- B.
Any receiver, trustee or assignee in bankruptcy or insolvency proceedings
- C.
Any person acting pursuant to the order of any court of justice
- D.
Any person who is a duly-constituted attorney-in-fact for purposes of sale, mortgage, lease or exchange, or other similar contratcts of real state,who require compensation or remuneration;
Correct Answer
D. Any person who is a duly-constituted attorney-in-fact for purposes of sale, mortgage, lease or exchange, or other similar contratcts of real state,who require compensation or remuneration;Explanation
The provisions of R.A. No.9646 and the IRR do not apply to a person who is acting as a duly-constituted attorney-in-fact for purposes of sale, mortgage, lease or exchange, or other similar contracts of real estate, and who requires compensation or remuneration. This means that individuals who are authorized to act on behalf of others in real estate transactions, and who receive payment for their services, are exempt from the regulations and requirements set forth in R.A. No.9646 and the IRR.Rate this question:
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- 46.
A Professional Identification Card shall likewise be issued to every registrant for real state service practice, upon payment of the required fees and shall indicate the following, except:
- A.
Registration Number
- B.
Date of Release
- C.
Expiration Date
- D.
Duly signed by the chairperson of the board
Correct Answer
B. Date of ReleaseExplanation
The Professional Identification Card for real estate service practice is issued to registrants upon payment of the required fees. It contains the registration number, expiration date, and is duly signed by the chairperson of the board. However, it does not indicate the date of release.Rate this question:
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- 47.
A listing currently listed with a real state broker and obtained and acquired by another broker must not be solicited or obtained by said broker unless:
- A.
The authority of the listing broker is non-exclusive
- B.
The authority of the listing broker has expired and the owner did not renew the authority
- C.
The authority of the listing broker has been revoked and the owner gives only non-exclusive listing
- D.
The owner, without solicitation from the new broker, offers to list the same with the new broker after the authority of the listing broker has expired or has been revoked
Correct Answer
D. The owner, without solicitation from the new broker, offers to list the same with the new broker after the authority of the listing broker has expired or has been revokedExplanation
The correct answer states that the owner must offer to list the property with the new broker after the authority of the listing broker has expired or has been revoked, without any solicitation from the new broker. This means that the new broker cannot actively seek or obtain the listing from the owner while it is still listed with the current broker. The owner must initiate the offer to switch brokers after the current broker's authority has ended or been revoked.Rate this question:
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- 48.
The bundle of rights includes the following rights of ownership, except
- A.
Right to use
- B.
Right to put up structure beyond restrictions
- C.
Right to enjoy the fruits of the land
- D.
Right to possess
Correct Answer
B. Right to put up structure beyond restrictionsExplanation
The bundle of rights refers to the various rights that come with ownership of a property. These rights include the right to use the property, the right to enjoy the fruits of the land (such as harvesting crops), the right to possess the property, and the right to put up structures on the property within the legal restrictions. Therefore, the correct answer is "Right to put up structure beyond restrictions" because this right is not included in the bundle of rights.Rate this question:
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- 49.
A sign giving notice of a property for sale or lease should not placed on a vacant parcel of land by more than one broker and only if
- A.
The broker has an exclusive listing
- B.
The sign should be of the same size as the other signs
- C.
Authorized by the owners
- D.
The address of the broker is indicated on the sign
Correct Answer
C. Authorized by the ownersExplanation
The correct answer is "Authorized by the owners". This means that a sign for a property can only be placed on a vacant parcel of land by a broker if they have been given permission by the owners of the property. This ensures that the broker has legal authority to advertise the property and prevents multiple brokers from placing signs on the same property without consent.Rate this question:
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- 50.
The following acts of a broker are considered unethical. Which act is considered unethical?
- A.
Encouraging the parties to a sale to undervalue the sale
- B.
Keeping a special bank account, separate and distinct from his own funds, for all moneys received in trust for other persons such as client's money and similar items
- C.
Disclosing his clients confidential personal information to a fellow broker in order to close the sale
- D.
Displaying submission of a formal offer that he had received from a prospective buyer in the hope of securing a higher offer
Correct Answer
B. Keeping a special bank account, separate and distinct from his own funds, for all moneys received in trust for other persons such as client's money and similar itemsExplanation
Keeping a special bank account for client's money is considered unethical because it can lead to potential misuse or mishandling of the funds. It is important for brokers to handle client's money with utmost care and transparency, and keeping it separate from their own funds helps ensure that the money is not mixed or used for personal purposes. This unethical act can breach the trust of clients and may result in legal consequences for the broker.Rate this question:
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 12, 2024Quiz Edited by
ProProfs Editorial Team -
Nov 13, 2011Quiz Created by
Kaprengbarako
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