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WorksheetsProperty Management Quiz#1
Total questions: 10
Worksheet time: 8mins
. In a real estate transaction the broker gets a
Professional fee
profit
dividend
honorarium
Mr Pascual told his broker to sell his condo unit and he promised to give 5% professional fee but no authority in writing was given. The authority is
valid
voidable
null and void
not valid
To constitute negligence or failure to disclose or ascertain to any person with whom a broker is dealing relative to the property and within his knowledge at the time of the transaction, what matters must the broker fail to disclose?
previous owner of the property or history of title
. Location, topography, and shape of the property.
fair market value of the property
material fact data, or information
All real estate practitioners shall maintain adequate knowledge, competence and expertise In real estate development and management and the upgrading of the standards of practice shall be effected when the need arises; all these for, and in the interest of the:
social and economic progress of the country
moral upliftment of the profession
upgrading of the real estate industry
continuing profession education
A person, natural of juridical who is engaged in the trade of leasing his own real properties with the purpose of generating profit is a
Real Etate Broker
RealEstate Dealer
Real Estate Businessman
Real Estate Consultant
The Realty Service Practice is a noble profession, calling or occupation and those engaged therein shall abide by and comply with all the
Laws
orders
decrees
rules and regulations
A tenant is entitled to the following, EXCEPT:
homelot
security of tenure
retention
right of redemption
Real Estate as a business refers to the following, except
leasing
buying
selling
baking
It is defined as the land and / or building or other improvements permanently attached to land including the rights and interests thereon
inheritance
Collateral
Real Estate Property Ownership
landholdings
No partnership or corporation shall engage in the business of real estate service unless it is duly registered with the
SEC
PRB-RES
PRC
Stock Exchange
