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PHILIPPINE ASSOCIATION OF REALTY APPRAISERS, INC COMPREHENSIVE
REAL ESTATE APPRAISAL SEMINAR AND TRAINING (CREASAT) 2026-27
JUST RELEASED VERSION
MODULE 1
1. The process of developing an opinion of value is referred to as a (an)
a. Market analysis
b. Investment analysis
c. Appraisal
d. Extraction
2. All the following statement are true except
a. Real Property refers to items that are not permanently fixed to a part of the real estate
b. Appraising is the art and science of estimating the value of an asset
c. Assets typically requiring appraisal include real and personal property
d. Asset value change in time
3. The enactment of the Real Estate Service Act created a body that will regulate the real estate
service practice. This regulatory board is named
a. Professional Regulatory Commission
b. Professional Board of Real Property Practitioners
c. Professional Regulatory Board of Real Estate Service
d. Professional Regulatory Board for Appraisers
4. Refers to an official in the local government unit, who performs appraisal and assessment of real
properties, including plants, equipment, and machineries, essentially for taxation purposes. This
definition also includes assistant assessors
a. Appraiser
b. Consultant
c. Assessor
d. Broker
e. Salesman
5. Refers to a duly registered and licensed natural person who, for a professional fee, commission
or other valuable consideration, acts as an agent of a party in a real estate transaction to offer,
advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the
sale, purchase, exchange, mortgage, lease or joint venture or other similar transactions on real
estate or any interest therein.
a. Real estate consultant
b. Real estate appraiser
c. Real estate broker
d. Real estate salesman
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,2
6. Refers to any natural or juridical person engaged in in the business of developing real estate
development project for his/her or its own account and offering them for sale or lease
a. Real estate appraiser
b. Real estate consultant
c. Real estate broker
d. Real estate developer
7. Refers to a duly registered and licensed natural person who, for a professional fee,
compensation or other valuable consideration, offers or renders professional advice and
judgment on : (i) the acquisition, enhancement, preservation, utilization or disposition of lands
or improvements thereon; and (ii) the conception, planning, management and development of
real estate projects
a. Real estate consultant
b. Real estate appraiser
c. Real estate broker
d. Real estate salesman
8. Refers to a person who conducts valuation, one who possesses the necessary qualifications,
license, ability and experience to execute or direct the valuation of real property
a. Assessor
b. Appraiser
c. Consultant
d. Broker
9. All the following areas of regulation affect appraisers except
a. PRC
b. LGU Planning Office
c. DTI
d. DSWD
10. Refers to the development of land for residential, commercial, industrial, agricultural,
institutional or recreational purposes, or any combination of such including, but not limited to,
tourist resorts, reclamation projects, building or housing projects, whether for individual or
condominium ownership, memorial parks and others of similar nature
a. Cost approach
b. Zoning
c. Urban planning
d. Real estate development project
11. Which among the practitioners listed does not belong to any realty service?
a. Consultant
b. Dealer
c. Appraiser
d. Broker
12. To be allowed to take the licensure examination for real estate appraiser, a candidate should be:
a. American Citizen
b. Filipino Citizen
c. Citizen of China
d. Indonesian
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13. No foreigner may be allowed to take the licensure examination nor given certificate to operate
in the Philippines unless there is
a. foreign reciprocity
b. foreign request
c. foreign intervention
d. foreign arrangement
14. The passing rate is 75% in all subjects with no rating below ________ in any subject.
a. 60%
b. 50%
c. 70%
d. 80%
15. A candidate must attend seminar and review and be issued a certification of completion of 120
unit hours by a PRC accredited ________________.
a. trainer
b. service provider
c. lecturer
d. training provider
16. Acronym for accredited and integrated professional organization by PRC.
a. IAPO
b. AIPO
c. APPO
d. IAPPO
17. In order to be admitted to the licensure examination for real estate service, a candidate at the
time of filing his application shall establish to the satisfaction of the Board that he possesses the
following qualifications except
a. Citizen of the Philippines
b. Good moral character
c. must not have been convicted of any crime involving moral turpitude
d. undertaken on the job training
18. No partnership or corporation shall engage in the business of real estate service unless it is duly
registered with the SEC and persons authorized to act for the partnership or corporation are all
________________ real estate brokers, appraisers or consultants as the case may be.
a. Registered and licensed
b. Registered
c. Recorded and listed
d. Registered and listed
19. Subject to the provisions of the Labor Code, a corporation or partnership may hire the services
of a registered and licensed real estate appraisers on commission basis to perform real estate
services and the real estate appraiser shall be deemed _______________.
a. Independent contractor
b. Dependent contractor
c. Full-time employee
d. Part-time employee
20. The appraiser’s professional identification card from PRC shall be renewed every :
a. 3 years
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PHILIPPINE ASSOCIATION OF REALTY APPRAISERS, INC COMPREHENSIVE
REAL ESTATE APPRAISAL SEMINAR AND TRAINING (CREASAT) 2026-27
JUST RELEASED VERSION
MODULE 1
1. The process of developing an opinion of value is referred to as a (an)
a. Market analysis
b. Investment analysis
c. Appraisal
d. Extraction
2. All the following statement are true except
a. Real Property refers to items that are not permanently fixed to a part of the real estate
b. Appraising is the art and science of estimating the value of an asset
c. Assets typically requiring appraisal include real and personal property
d. Asset value change in time
3. The enactment of the Real Estate Service Act created a body that will regulate the real estate
service practice. This regulatory board is named
a. Professional Regulatory Commission
b. Professional Board of Real Property Practitioners
c. Professional Regulatory Board of Real Estate Service
d. Professional Regulatory Board for Appraisers
4. Refers to an official in the local government unit, who performs appraisal and assessment of real
properties, including plants, equipment, and machineries, essentially for taxation purposes. This
definition also includes assistant assessors
a. Appraiser
b. Consultant
c. Assessor
d. Broker
e. Salesman
5. Refers to a duly registered and licensed natural person who, for a professional fee, commission
or other valuable consideration, acts as an agent of a party in a real estate transaction to offer,
advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the
sale, purchase, exchange, mortgage, lease or joint venture or other similar transactions on real
estate or any interest therein.
a. Real estate consultant
b. Real estate appraiser
c. Real estate broker
d. Real estate salesman
1
,2
6. Refers to any natural or juridical person engaged in in the business of developing real estate
development project for his/her or its own account and offering them for sale or lease
a. Real estate appraiser
b. Real estate consultant
c. Real estate broker
d. Real estate developer
7. Refers to a duly registered and licensed natural person who, for a professional fee,
compensation or other valuable consideration, offers or renders professional advice and
judgment on : (i) the acquisition, enhancement, preservation, utilization or disposition of lands
or improvements thereon; and (ii) the conception, planning, management and development of
real estate projects
a. Real estate consultant
b. Real estate appraiser
c. Real estate broker
d. Real estate salesman
8. Refers to a person who conducts valuation, one who possesses the necessary qualifications,
license, ability and experience to execute or direct the valuation of real property
a. Assessor
b. Appraiser
c. Consultant
d. Broker
9. All the following areas of regulation affect appraisers except
a. PRC
b. LGU Planning Office
c. DTI
d. DSWD
10. Refers to the development of land for residential, commercial, industrial, agricultural,
institutional or recreational purposes, or any combination of such including, but not limited to,
tourist resorts, reclamation projects, building or housing projects, whether for individual or
condominium ownership, memorial parks and others of similar nature
a. Cost approach
b. Zoning
c. Urban planning
d. Real estate development project
11. Which among the practitioners listed does not belong to any realty service?
a. Consultant
b. Dealer
c. Appraiser
d. Broker
12. To be allowed to take the licensure examination for real estate appraiser, a candidate should be:
a. American Citizen
b. Filipino Citizen
c. Citizen of China
d. Indonesian
2
, 3
13. No foreigner may be allowed to take the licensure examination nor given certificate to operate
in the Philippines unless there is
a. foreign reciprocity
b. foreign request
c. foreign intervention
d. foreign arrangement
14. The passing rate is 75% in all subjects with no rating below ________ in any subject.
a. 60%
b. 50%
c. 70%
d. 80%
15. A candidate must attend seminar and review and be issued a certification of completion of 120
unit hours by a PRC accredited ________________.
a. trainer
b. service provider
c. lecturer
d. training provider
16. Acronym for accredited and integrated professional organization by PRC.
a. IAPO
b. AIPO
c. APPO
d. IAPPO
17. In order to be admitted to the licensure examination for real estate service, a candidate at the
time of filing his application shall establish to the satisfaction of the Board that he possesses the
following qualifications except
a. Citizen of the Philippines
b. Good moral character
c. must not have been convicted of any crime involving moral turpitude
d. undertaken on the job training
18. No partnership or corporation shall engage in the business of real estate service unless it is duly
registered with the SEC and persons authorized to act for the partnership or corporation are all
________________ real estate brokers, appraisers or consultants as the case may be.
a. Registered and licensed
b. Registered
c. Recorded and listed
d. Registered and listed
19. Subject to the provisions of the Labor Code, a corporation or partnership may hire the services
of a registered and licensed real estate appraisers on commission basis to perform real estate
services and the real estate appraiser shall be deemed _______________.
a. Independent contractor
b. Dependent contractor
c. Full-time employee
d. Part-time employee
20. The appraiser’s professional identification card from PRC shall be renewed every :
a. 3 years
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