REB-FC15

On a Pacto de Retro contract of sale which there is no stipulation of the period to which the vendor shall have the right to buy back or redeem of the property. The period of redemption shall be ______

• Two (2) years

• Four (4) years

• Six (6) years

• Eight (8) years

 It is a contract by which the fruits of real property is used to secure an obligation.

• Antichresis

• Hypothecation

• Leasehold

• Easement

From whom may a freelance real estate salesperson demand a fee, commission or compensation of any kind for any service rendered or work done by him in any real estate transaction

• Real Estate Broker

• Real Estate Agent

• Property Manager

• Mortgage Lender

Agency relationship is not extinguished by __________

• Termination

• Expiration

• Renewal

• Revocation

The tax clearance certificate for real property taxes is obtained from--

• City or municipal assessor

• State tax office

• County treasurer

• Local government office

If CCT's are being issued for the first time in a condominium project, the following is not one of the requirements –

• Certificate of management

• Building permit

• Occupancy permit

• Condominium declaration

What does PRB-RES stand for?

• Professional Regulatory Board of Real Estate Service

• Public Relations Board for Real Estate Services

• Professional Review Board of Real Estate Specialists

• Private Regulatory Body of Real Estate Services

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.

• Assessor

• Evaluator

• Inspector

• Appraiser

The obligation to pay the tax accrues at the moment of death:

• Estate tax

• Income tax

• Sales tax

• Property tax

A person specified by a descendant to be a beneficiary of real property.

• Devisee

• Heir

• Executor

• Trustee