Final Coaching Coach Gerald

1. 1. Which of the following estimates will produce a capitalization rate of 8%

• Property value of P4, 000, 000 and effective operating income of Php 500, 000

• Property value of P5, 000, 000 and effective operating income and effective operating income of P400, 000

• Property value of P5, 000, 000 and net operating income of P400, 000

• Property value of P4, 000, 000 and net operating income of P500, 000

2. 2. Eminent domain refers to the power of the government to take private property and convert it into public use upon payment of just compensation. To make the expropriation, at what percentage of the FMV must be paid as a down payment?

• 5%

• 10%

• 15%

• 20%

3. 3. What is the maximum percentage of agricultural lands that an LGU council in an highly urbanized and independent component cities, may reclassify lands according to their intended or better economic use.

• 15%

• 10%

• 5%

• 20%

4. 4. What is the maximum percentage of agricultural lands in component cities & 1st to 3rd class municipalities that may be reclassified according to their intended or better economic use?

• 15%

• 10%

• 5%

• 20%

5. 5. The maximum percentage of agricultural lands in 4th tot 6th class municipalities that may be classified according to their intended or better economic use.

• 15%

• 10%

• 5%

• 20%

6. 6. Taxing powers of LGUs does not extend to the following:
   I. Income tax

   1. II. CGT

   2. III. DST

   3. IV. Taxes in estates, inheritance, gifts, legacies, and other acquisitions

      1. V. VAT

• I only

• I, II, and III only

• I and IV only

• I, II, II, IV, V

7. 7. Provinces may levy professional tax including real estate practicioners not exceeding:

• P300, 000 per year

• P500 per year

• P1, 000 per year

• P2, 000 per year

8. 8. Unpaid delinquent taxes will be subject to _ for a maximum period of __ months.

• Not more than 2% interest; 36 months

• At least 2% monthly interest; 36 months

• A maximum of 2% monthly interest; 36 months

• An average of 2% monthly interest; 36 months

9. 9. Within _ days after levy, the local treasure shall proceed with public advertisement for the sale/auction of the property

• 15 days

• 30 days

• 60 days

• 90 days

10. 10. The following are personal property exempt from distraint/levy:

I. Tools and implementation used by delinquent taxpayers in his trade/employment

II. One goat, cow, carabao used in his ordinary occupation

III. Personal clothing

IV. Household furniture

V. Crops of the family for 6 months

VI. Professional library

• I, III, and IV only

• I, II, V, and VI only

• I, III, IV, and VI only

• I, II, III, IV, V, and VI