CRES 200 REVIEW QUESTIONS SET 1B
QUESTIONS WITH 100% ACCURATE ANSWERS
The ethical broker always strives to protect his client's interest. Which of the following is not in
the best interest of
your client/seller?
a. Maintain utmost confidentially on matters not directly related to the property
b. Strive to be familiar with laws and ordinances on real estate
c. Tell your client that his price is too high and give your opinion on the fair market value of the
property
d. Inform your client about the forthcoming commercial development in the area - Accurate
answers a. Maintain utmost confidentially on matters not directly related to the property
Based on the local government code, how often shall real property values be revised?
a. Every three (3) years
b. Every one (1) year
c. Every two (2) years
d. None of the above - Accurate answers a. Every three (3) years
The Documentary Stamps for the Sale of property shall be paid on:
a. After 20th day of the following month from notarization of deed
b. After 15th day of the following month from notarization of deed
c. After 10thday of the following month from notarization of deed
d. None of the Above - Accurate answers a. After 20th day of the following month from
notarization of deed
Your client Sarah has a property in a residential area that is actually being used as a beauty
salon. The tax declarations of the lot and the structure indicate the following data. What is the
total combined assessed value of the land and the improvement?
Lot Area : 275 sq.m.
Market value of the land : Php 4,525.00 per sq.m.
Market value of the structure : Php 2,400,000.00
Assessment level:
Residential : 20%
Commercial : 50%
Property tax rate : 1.5%
Special education fund : 1% of the assessed value
a. Php 3,644,375.00 b. Php 1,244,375.00
c. Php 1,822,185.50 d. Php 2,400,000.00 - Accurate answers c. Php 1,822,185.50
,105. What is the tax payable to the local government unit for sale, transfer or other disposition
of real estate, whether the real estate is capital or ordinary asset?
a. Transfer Tax
b. Capital Gains Tax
c. Withholding Tax
d. Value Added Tax - Accurate answers a. Transfer Tax
The Creditable Withholding Tax in the sale of an acquired foreclosed asset of a bank in the
amount of Php 850,000.00 is:
a. 1.5% b. 3.0% c. 5.0% d. 6.0% - Accurate answers a. 1.5%
The sale and transfer of title from real estate dealer to a buyer of a house and lot at
P2,000,000.00 is subject to the
following, except:
a. Transfer Tax
b. Documentary Stamp Tax
c. Capital Gains Tax
d. Creditable Withholding Tax - Accurate answers c. Capital Gains Tax
What is the maximum area that can be granted to any one beneficiary of CARPER? ***
a. 2 hectares
b. 3 hectares
c. 4 hectares
d. 5 hectares - Accurate answers b. 3 hectares
Under CARPER agricultural land may be converted except:
a. Agricultural land granted to farmer beneficiaries
b. Retained agricultural land
c. Irrigated or irrigable agricultural land
d. Agricultural land of the public domain - Accurate answers c. Irrigated or irrigable
agricultural land
The homeowners association is registered with?
a. HLURB b. PRC c. PDIC d. DENR - Accurate answers a. HLURB
The Documentary Stamps for the Estate Tax shall be paid on:
a. After 30 days from notarization of Deed
b. After 10th day of the following month from notarization of Deed
c. After 5th day of the following month from notarization of Deed
d. None of the Above - Accurate answers C
, Property held by the owner as inventory or stock in trade in connection with trade business or
source of income is
referred to as:
a. Capital Asset
b. Ordinary Asset
c. Fixed Asset
d. None of the above - Accurate answers b. Ordinary Asset
A licensed real estate broker, buying and selling many properties for himself, may have his
profits taxed as:
a. Long-term capital gains
b. Short-term capital gains
c. Deferred capital Gains
d. Ordinary Income - Accurate answers d. Ordinary Income
Which of the following is not included in the primary purpose of the establishment of RA 9646?
a. To enhance collection of taxes by government in the real estate transaction
b. To protect the general public of any illegal act of practitioners in the conduct of real estate
business
c. To limit practitioners in the real estate industry
d. To enhance qualification of the Real Estate Service Practitioner - Accurate answers a. To
enhance collection of taxes by government in the real estate transaction
The creditable withholding Tax for the sale of a residential condominium worth Php 1,800,000
which is being used as residence by the owner is:
a. 3.0%
b. 1. 5.0%
c. 5.0%
d. None of the above - Accurate answers d. None of the above
In which scenario will marital consent be needed to sell property?
a. Spouses with pre-nuptial agreement agreeing to regime of Absolute Separation of Property.
b. Spouses with a Decree of Separation of Property
c. Spouses under a regime of Absolute Community
d. None of the Above - Accurate answers c. Spouses under a regime of Absolute
Community
The penalties that the Bureau of Internal Revenue collects from a late filer and late payment of
Expanded Withholding Tax, except -
QUESTIONS WITH 100% ACCURATE ANSWERS
The ethical broker always strives to protect his client's interest. Which of the following is not in
the best interest of
your client/seller?
a. Maintain utmost confidentially on matters not directly related to the property
b. Strive to be familiar with laws and ordinances on real estate
c. Tell your client that his price is too high and give your opinion on the fair market value of the
property
d. Inform your client about the forthcoming commercial development in the area - Accurate
answers a. Maintain utmost confidentially on matters not directly related to the property
Based on the local government code, how often shall real property values be revised?
a. Every three (3) years
b. Every one (1) year
c. Every two (2) years
d. None of the above - Accurate answers a. Every three (3) years
The Documentary Stamps for the Sale of property shall be paid on:
a. After 20th day of the following month from notarization of deed
b. After 15th day of the following month from notarization of deed
c. After 10thday of the following month from notarization of deed
d. None of the Above - Accurate answers a. After 20th day of the following month from
notarization of deed
Your client Sarah has a property in a residential area that is actually being used as a beauty
salon. The tax declarations of the lot and the structure indicate the following data. What is the
total combined assessed value of the land and the improvement?
Lot Area : 275 sq.m.
Market value of the land : Php 4,525.00 per sq.m.
Market value of the structure : Php 2,400,000.00
Assessment level:
Residential : 20%
Commercial : 50%
Property tax rate : 1.5%
Special education fund : 1% of the assessed value
a. Php 3,644,375.00 b. Php 1,244,375.00
c. Php 1,822,185.50 d. Php 2,400,000.00 - Accurate answers c. Php 1,822,185.50
,105. What is the tax payable to the local government unit for sale, transfer or other disposition
of real estate, whether the real estate is capital or ordinary asset?
a. Transfer Tax
b. Capital Gains Tax
c. Withholding Tax
d. Value Added Tax - Accurate answers a. Transfer Tax
The Creditable Withholding Tax in the sale of an acquired foreclosed asset of a bank in the
amount of Php 850,000.00 is:
a. 1.5% b. 3.0% c. 5.0% d. 6.0% - Accurate answers a. 1.5%
The sale and transfer of title from real estate dealer to a buyer of a house and lot at
P2,000,000.00 is subject to the
following, except:
a. Transfer Tax
b. Documentary Stamp Tax
c. Capital Gains Tax
d. Creditable Withholding Tax - Accurate answers c. Capital Gains Tax
What is the maximum area that can be granted to any one beneficiary of CARPER? ***
a. 2 hectares
b. 3 hectares
c. 4 hectares
d. 5 hectares - Accurate answers b. 3 hectares
Under CARPER agricultural land may be converted except:
a. Agricultural land granted to farmer beneficiaries
b. Retained agricultural land
c. Irrigated or irrigable agricultural land
d. Agricultural land of the public domain - Accurate answers c. Irrigated or irrigable
agricultural land
The homeowners association is registered with?
a. HLURB b. PRC c. PDIC d. DENR - Accurate answers a. HLURB
The Documentary Stamps for the Estate Tax shall be paid on:
a. After 30 days from notarization of Deed
b. After 10th day of the following month from notarization of Deed
c. After 5th day of the following month from notarization of Deed
d. None of the Above - Accurate answers C
, Property held by the owner as inventory or stock in trade in connection with trade business or
source of income is
referred to as:
a. Capital Asset
b. Ordinary Asset
c. Fixed Asset
d. None of the above - Accurate answers b. Ordinary Asset
A licensed real estate broker, buying and selling many properties for himself, may have his
profits taxed as:
a. Long-term capital gains
b. Short-term capital gains
c. Deferred capital Gains
d. Ordinary Income - Accurate answers d. Ordinary Income
Which of the following is not included in the primary purpose of the establishment of RA 9646?
a. To enhance collection of taxes by government in the real estate transaction
b. To protect the general public of any illegal act of practitioners in the conduct of real estate
business
c. To limit practitioners in the real estate industry
d. To enhance qualification of the Real Estate Service Practitioner - Accurate answers a. To
enhance collection of taxes by government in the real estate transaction
The creditable withholding Tax for the sale of a residential condominium worth Php 1,800,000
which is being used as residence by the owner is:
a. 3.0%
b. 1. 5.0%
c. 5.0%
d. None of the above - Accurate answers d. None of the above
In which scenario will marital consent be needed to sell property?
a. Spouses with pre-nuptial agreement agreeing to regime of Absolute Separation of Property.
b. Spouses with a Decree of Separation of Property
c. Spouses under a regime of Absolute Community
d. None of the Above - Accurate answers c. Spouses under a regime of Absolute
Community
The penalties that the Bureau of Internal Revenue collects from a late filer and late payment of
Expanded Withholding Tax, except -
