RED OCTOBER REVIEW CENTER

ANSWER KEY MOCK EXAM FOR BROKERS

ANSWER KEY MOCK EXAM FOR BROKERS
1. d. Bind the principal in a contract
2. c. Exchange agency
3. b. Authorization to Sell.
4. c. Principal
5. d. Fiduciary relationship
6. d. Exclusive right to sell
7. b. Employment of a broker by owner to sell or lease
8. d. Agreement between seller and broker
9. c. Register and negotiate with his prospect during his authority
10.a. A licensed broker who failed to renew his license prior to July 30, 2009
11.b. Those who had passed the 2009 & 2008 licensure examinations given
by DTI but who had failed to renew their license upon the effectivity of RA
9646
12.c.Those who had passed the 2007 licensure examinations given by DTI but
who had failed to renew their license upon the effectivity of RA 9646
13.Those who had passed the DTI licensure examinations in 2006 and prior
years but who had failed to renew their license upon the effectivity of RA
9646
14.c. Either a or b.
15.a. Real estate salesman
16.a. Accredited and Integrated Professional Organization
17.b. Professional Regulatory Board of Real Estate Service
18.a. Relevant Bachelors Degree
19.e. Regular court
20.e. Ten years
21.d. Material fact, data or information
22.d. Procurement of loans secured by real estate
23.d. Non-payment of dues
24.d. Willingly share with other brokers the lessons from his experience and
study
25.e. 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expired or been revoked
26.c. Authorized by the owner
27.d. absolute community of property
28.a. market value
29.a. appraisal

RED OCTOBER REVIEW CENTER FOR YOUR EYES ONLY

Page 1

RED OCTOBER REVIEW CENTER

ANSWER KEY MOCK EXAM FOR BROKERS
30.any of the above
31.a. on commercial and investment properties
32.b. Torrens title
33.a. appraisal
34.a. avulsion
35.b. square planning
36.e. none of the above
37.d. Lis pendens
38.a. principle of conformity
39.a. unearned increment
40.e. any of the above
41.a. offered amount
42.a. straight-line method
43.b. occupation
44.a. principle of progression
45.d. affidavit of adjudication
46.a. market analysis
47.a. 2 years
48.e. None of the above
49.a. Rectangular survey
50.a. Gross income multiplier
51.d. Easement
52.a. Nine (9) or less
53.a. Depreciation
54.a. Amortization
55.d. Patrimonial property
56.a. Anticipation
57.b. Public plaza converted into housing project
58.a. 10% of all titles in the registry
59.e. Purchasing power
60.a. Ordinary assets
61.b. Topographic survey
62.c. Accession
63.d. Principle of Competition
64.a. Personal Property
65.e. None of the above (10 years)
RED OCTOBER REVIEW CENTER FOR YOUR EYES ONLY

Page 2

RED OCTOBER REVIEW CENTER

ANSWER KEY MOCK EXAM FOR BROKERS
66.b. Fee simple
67.c. Mechanics Liens
68.d. Attachments
69.c. P325,000.00 (50% of P500,000 plus 5% for every year after 5 years =
P250,000 + 75,000)
70.c. Pactum Commissorium
71.d. Antichresis (Hypothecate means to pledge (property) as security or
collateral for a debt without transfer of title or possession
72.c. Dacion en pago
73.c. Alienation
74.c. Automatic redemption clause
75.b. Assign his rights
76.b. Power to sell directly
77.c. Lease fee estate
78.d. Blanket mortgage
79.c. Statute of Fraud
80.a. 4 years
81.b. Deed of conditional sale
82.c. 10 years
83.c. 2 months Note: Answer is based on rent control law which expired
December 31, 2004.
84.c. Defeasance clause
85.d. Any of the above
86.d. any of the above
87.b. Special education fund tax
88.e. Prepaid income tax
89.e. 50% of the area is uncultivated
90.b. P1.00 for every P1,000 in excess of the first P2,000
91.e. 20% interest per annum
92.c. Two percent of assessed value
93.e. Thirty percent
94.e. Assessed value
95.d. 180 days from death of decedent
96.b. Year 2010
97.b. Within five (5) days after the close of the month of the date of sale
98.c. 20%

RED OCTOBER REVIEW CENTER FOR YOUR EYES ONLY

Page 3

RED OCTOBER REVIEW CENTER

ANSWER KEY MOCK EXAM FOR BROKERS
99.b. Concerned Municipal Assessor
100.

c. P 1,000,000.00

101.

c. 60 days

102.

a. Ordinary assets

103.

b. Creditor-bank

104. a. P20.00 for the 1st P5,000.00 plus P10.00 for every P5,000.00
thereafter
105.

b. P2,500,000.00

106.

e. None of the above

107.

c. Creditable withholding tax

108.

b. Documentary stamp tax

109.

a. P33,000

110.

e. P110,000

111.

a. P1,060,000

Selling Price
Cash Payment to the Seller
Add: Assumed Mortgage
Selling Price
112.

b. P960,000

Contract Price
Selling Price
Less: Assumed Mortgage
Contract Price
113.

P 960,000
100,000
P1,060,000

P1,060,000
( 100,000)
P 960,000

c. P760,000

Initial Payment made for 6 months

Downpayment
P160,000
Installments made (P100T x 6 mos. for July-Dec.)
600,000
Initial Payment for Taxable year
P760,000
114.

a. P212,000

Gross Profit based on cost

Selling Price
P1,060,000
Less: Acquisition Cost (P1.060M/125%)
( 848,000)
Gross Profit
P 212,000
115.

a. 22.08%

Gross Profit Rate for Tax Purposes =

Gross Profit
Contract Price
P960,000 = 22.08%

RED OCTOBER REVIEW CENTER FOR YOUR EYES ONLY

P212,000

Page 4

RED OCTOBER REVIEW CENTER

ANSWER KEY MOCK EXAM FOR BROKERS
116.

c. P167,808

Taxable Income for 2008 = P760,000 x 22.08%

117. b. P44,160

P167,808

Taxable income for 2009 = P200,00 (P960T-P760T) x 22.08% = P44,160

118.

b. Land banking

119.

d. abandoned and idle land

120.

d. eighteen percent

121.

e. None of the above

122.

d. Land use planning

123.

c. Foreclosure

124.

d. Regional Agrarian Reform Officer

125.

b. expropriation

126.

tenants right of first refusal

127.

d. site planning

128.

c. Affidavit of f total or aggregate landholdings

129. d. 5 has for the landowner and 3 has per child who must be at least 15
years old and is actually tilling the land or managing the farm
130.

b..Total payments made less penalty and interest charges.

131.

b. Twelve months

132.

b. Housing and Land Use Regulatory Board

133.

c. Equal

134.

a. RA 7279

135.

d. RA 4726

136.

b. License to sell

137.

c. Condominium

138.

d. P.D. 957

139.

c. Subdivision lots

140.

b. Owner of condominium unit

141.

c. Simple majority

142.

c. Socialized housing

143.

e. Regular courts

144.

d. 6 meters

145.

b. 20% of development cost

146.

c. City or municipal engineer

RED OCTOBER REVIEW CENTER FOR YOUR EYES ONLY

Page 5

RED OCTOBER REVIEW CENTER

147.

ANSWER KEY MOCK EXAM FOR BROKERS

c. Non-alienable public lands

148.

d. Co-terminus with duration of condominium project

149.

b. 30% of gross area

150.

c. be susceptible of independent use and ownership

151.

d. Floor area of ownership

152.

d. Housing and Land Use Regulatory Board

RED OCTOBER REVIEW CENTER FOR YOUR EYES ONLY

Page 6