NEW
Font size
WorksheetsEconomics and Real Estate Quiz
Total questions: 67
Worksheet time: 35mins
A government faces a prolonged recession marked by high unemployment and low consumer spending. Despite low interest rates and abundant capital, private investment remains stagnant. A top economic advisor recommends increasing government spending to stimulate demand. Which economist’s theory most directly supports this recommendation?
Adam Smith
John Maynard Kaynes
David Ricardo
Alan Dave Navales
Which of the following pairs of economists both emphasized structural constraints on economic outcomes, but differed in their primary focus—one on population-resource imbalance, the other on class conflict?
John Maynard Kaynes and Adam Smith
Adam Smith and David Ricardo
Thomas Robert Malthus and Karl Marx
Timothy Tan and Alan Dave Navales
A real estate investor purchases a property in a metropolitan area, banking on the location's proximity to major business hubs, schools, and transportation. Despite similar structures and lot sizes in other towns, this property commands a higher price due to its location. Which economic characteristic of real estate best explains this valuation?
Improvements
Area Preference or Situs
Uniqueness
Scarcity
Which of the following characteristics contributes to the permanence of land as a resource and makes real estate a long term investment, even when structures deteriorate?
Improvements or modification
Indestructibility or durability
Fixity
Scarcity
Following the development of a major infrastructure project under the 'Build, Build, Build' program, such as a new MRT line extension in Metro Manila, the surrounding barangays begin to see a spike in residential property inquiries and reservation sales, even before construction is completed. Which economic concept primarily explains this surge in buyer interest?
Fixity
Demand
Supply
Situs
A government economist reports that for the past two quarters, the country has experienced declining GDP, rising unemployment, and decreased consumer spending. Major retailers have reported lower sales, and several manufacturing firms have cut production. Based on these indicators, what stage of the business cycle is the Philippine economy most likely experiencing?
Peak
Recovery
Recession/Contraction
Trough
A property developer delays launching a new condominium project in Metro Manila after the Bangko Sentral ng Pilipinas (BSP) raises interest rates to address rising inflation. Which type of government policy is directly influencing the developer’s decision?
Land use policy
Fiscal policy
Trade policy
Monetary policy
Maria, aged 64, is planning to apply for a PagIBIG housing loan. She has no outstanding Pag-IBIG loan, passed the credit and employment check, and has made 20 monthly contributions so far. Which of the following must she do to meet the eligibility requirements?
Wait until she reaches 65 to qualify for senior member benefits
Cancel her previous STL account before applying
Apply under a tacked loan with co-borrowers
Make a lump-sum payment to complete the 24 months of required contributions
A borrower with a gross monthly income of ₱90,000 is applying for a Pag-IBIG housing loan amounting to ₱2,000,000. To determine if the borrower qualifies, which rule on monthly repayment capacity applies?
Loan amount must not exceed ₱1,250,000 for approval
Loan must be split among at least three co-borrowers
Monthly amortization must not exceed 35% of gross monthly income
Monthly amortization must not exceed 30% of gross monthly income
A sudden surge in consumer spending during the holiday season causes retail inventories to run low, prompting sellers to raise prices rapidly. Which type of inflation does this scenario best illustrate?
Demand-pull inflation
Structural inflation
Imported inflation
cost -push inflation
Sir Robert Richard Chute Torrens, the key figure behind the development of the title-by-registration system that transformed land ownership laws and influenced Philippine property law, held which official citizenship during his political and legal career?
Canadian
Scottish
Australian
British
What was the main impact of the Real Property Act of 1858 (Torrens Act) on land ownership and registration?
It introduced zoning laws and urban planning regulations
It simplified land transfer and encumbrance by creating a system of title of registration
It abolished private land ownership in favor of government leasing.
It established land taxation as the main source of government revenue
What Department Administrative Order formally institutionalized the use of Land Administration and Management System (LAMS) to improve land information management in the Philippines?
DAO 2010-18
DAO 2016-01
DMC 2016-06
DAO 2004-12
A land surveyor submits a digital survey return through the DENR’s online platform. However, the system flags an overlap with an existing titled property. Which LAMS feature is primarily responsible for detecting and preventing such issues?
Digital allocation book
Public Land Application (PLA)
Inspection, Verification, and Approval of Surveys (IVAS)
Client Transaction Monitoring (CTM)
Under Presidential Decree No. 957, if no development is initiated, how long is a Subdivision Development Permit valid from the date of its issuance?
Five (5) years
Indefinite, unless revoked by the HLURB
Three (3) years
One (1) year
Under PD 957, how soon must a developer or owner secure a License to Sell after registering a subdivision or condominium project, before offering any unit or lot for sale?
Immediately after HLURB site inspection
Only after obtaining a development permit
Within thirty (30) days from project completion
Within two (2) weeks from project registration
Under BP 220, a surety bond posted in lieu of completed development works must be equivalent to what percentage of the unfinished development cost?
Twenty percent (20%)
Five percent (5%)
Ten percent (10%)
Fifteen percent (15%)
Under BP 220, a Preliminary Subdivision Development Plan, once approved, remains valid for how long from the date of its approval?
365 days
180 days
90 days
1 year
Under the Family Code of the Philippines, which of the following is an essential requisite of a valid marriage?
Presence of at least two witnesses during the ceremony
A valid marriage license issued by the local civil registrar
Legal capacity of the male and female contracting parties
Authority of the solemnizing officer
According to the amended Article 234 of the Family Code, at what age does emancipation occur in the Philippines?
21 years old
18 years old
19 years old
20 years old
Which of the following is NOT one of the fundamental principles of real property assessment under Section 198 of RA 7160?
Real property shall be classified for assessment based on actual use
Real property shall be appraised at its current and fair market value
Real property must be appraised based on its potential or highest and best use
The appraisal and assessment of real property shall be equitable
What is the primary advantage of the mass appraisal method as outlined in the Guidebook on Mass Appraisal?
It is used solely for small-scale residential developments
It eliminates the need for statistical validation of results
It enables systematic valuation of multiple properties efficiently
It allows the appraisal of only high-value commercial properties
Which of the following is not an official power or function of the Professional Regulatory Board of Real Estate Service under Section 5 of R.A. No. 9646?
Prescribe curricula and facilities requirements for real estate education in partnership with CHED
Hear and investigate violations of the Code of Ethics and Responsibilities
Conduct licensure examinations and prescribe syllabi
Safeguard the general public by regulating real estate property advertisements
Which of the following disqualifies a government appraiser or assessor from registering without examination under Section 20 of R.A. No. 9646?
Has at least 3 years of experience in real property appraisal or assessment
Held a permanent appointment as of July 30, 2009
Passed the Real Property Assessing Officer (RPAO) examination conducted by the Civil Service Commission
Completed the required CPE units as specified by the Board
Mr. Lorenzo, a 66-year-old licensed real estate broker, is preparing to renew his Professional Identification Card (PIC) in 2025. He is a senior citizen and has remained active in his profession. How many CPD credit units must he complete to successfully renew his license?
5 CPD units only, since he is a senior citizen
20 CPD units, because that is the standard requirement for 2025
He can submit a CPD Undertaking and complete the units after renewal
No CPD units are needed if he’s been practicing for more than 10 years
Which of the following is considered an area strictly restricted from land use conversion under agrarian reform and environmental regulations?
Highlands with elevations of 500 meters or more that support high-value crop cultivation
Urban commercial zones previously used for dry goods trading
Barangay-owned recreational lots designated as open space
Idle lands adjacent to national highways with no agricultural activity
Who is the authorized approving official for a land use conversion application involving a 40-hectare agricultural property?
DAR Undersecretary for Legal Affairs
Regional Agrarian Reform Officer (RARO)
DAR Provincial Agrarian Reform Program Officer
Department of Agriculture Secretary
Under the agrarian reform law, how are beneficiaries expected to pay for the land awarded to them?
By enrolling in a cooperative-based funding mechanism that requires shared equity contributions, interest-adjusted payments, and community development fees over 25 years
By contributing a percentage of their net farm income annually, subject to revaluation and government audit every five years
By entering into a 15-year conditional lease agreement with staggered interest increases every three years and a balloon payment at the end
Through 30 annual installments with 6% interest, with the first five payments capped at 5% of gross production value
Under CARPER (Comprehensive Agrarian Reform Program Extension with Reforms), what was the extended timeline set for land acquisition and distribution?
From the start of the program until all land disputes are settled through judicial means and budgetary allocations are fully utilized
July 1, 2009 to June 30, 2014
Ten years from the passage of the law, with possible extensions depending on regional land conversion rates and administrative appeals
An indefinite period subject to review by Congress every two years, based on implementation progress and landowner cooperation
When is the creation of a condominium corporation mandatory under Philippine law?
When all unit titles are transferred to the property management office for record consolidation
When the building is over 10 stories tall and includes commercial spaces
When some units, not exceeding 40%, will be sold to foreigners
When there are more than 100 unit owners residing within the building
What is the minimum floor area required for a family dwelling unit in a medium-cost condominium project in the Philippines?
18 square meters
36 square meters
12 square meters
22 square meters
Which of the following is true about the dividend distribution requirement of a REIT under Philippine law?
A REIT is required to distribute 100% of its income to shareholders on a monthly basis.
A REIT must distribute at least 90% of its distributable income to shareholders, not later than the last day of the 5th month after the close of its fiscal year.
Dividend distribution is optional if the REIT reinvests at least 50% of its income within one fiscal year.
Only gains from property sales are considered distributable income and must be paid within 30 days.
Under the REIT Act, what is the minimum public ownership requirement for a REIT to remain qualified?
At least 1,000 shareholders owning a minimum of 50 shares each, collectively holding at least 33% of the outstanding capital stock.
At least 1,000 shareholders owning at least 1 share each, comprising a total of 20% of capital stock.
At least 100 shareholders with at least 25% ownership each.
At least 500 shareholders with a combined ownership of 51% of total shares.
Which of the following best describes the tax amnesty provision under RA 12001?
It applies to penalties, surcharges, and interests on unpaid real property taxes and special levies for 2023 and prior years, and may be availed of within two years from effectivity.
It may only be availed by LGUs in highly urbanized cities as authorized by the Secretary of Finance.
It covers real properties already auctioned or under compromise agreements for tax delinquencies.
It includes all unpaid property taxes regardless of year and allows indefinite installment payment.
Who is responsible for preparing the Schedule of Market Values (SMVs) for different classes of real property under RA 12001?
The Real Property Valuation Service under the Department of Budget and Management
The Secretary of Finance through the Bureau of Internal Revenue
Private licensed appraisers accredited by the BLGF
Provincial, city, and municipal assessors within their respective jurisdictions
An implementing agency of the national government plans to acquire a privately-owned property for a major road widening project. The agency issues a written offer based on a government financial institution's valuation. The property owner accepts the offer and a Deed of Sale is executed. Under RA 10752, which of the following correctly describes the timing and structure of the payment?
The agency must pay 50% of the land value and 70% of the structure upon the execution of the Deed of Sale.
Payment can be deferred until the project reaches 50% construction progress.
100% payment must be made before the Deed of Sale can be executed.
Full payment must be made within 30 days of the execution of the Deed of Sale regardless of improvements.
Which constitutional principle is reaffirmed by RA 10752 as the foundation for acquiring private land for national infrastructure projects?
The right to a balanced and healthful ecology.
The right to equal protection under the law.
Private property shall not be taken for public use without just compensation.
The right of citizens to information on matters of public concern.
When a property owner refuses to accept the government's offer for a parcel of land needed for a national infrastructure project, the implementing agency (IA) initiates expropriation proceedings. Upon filing a verified complaint, the IA is required to immediately deposit to the court an amount equivalent to which of the following combinations?
One hundred percent (100%) of the BIR zonal value of the land (not more than 3 years old), plus the replacement cost of improvements and current market value of crops and trees, as jointly determined by the IA, a government financial institution with appraisal experience, and an independent property appraiser accredited by the BSP.
The assessed value of the land as determined by the local assessor, plus the replacement cost of improvements determined solely by the implementing agency.
Seventy percent (70%) of the market value of the land based on the BIR zonal value, plus a negotiated amount for improvements as agreed between the IA and the property owner.
Fifty percent (50%) of the market value of land and improvements based on an internal valuation report, provided it is reviewed by the Department of Finance and deposited within 60 days of filing
A group of residents in a government housing project formed a homeowners’ association and began collecting dues from all residents, including tenants who were leasing units from private owners. One lessor contested the collection, arguing that his tenant should not be compelled to pay association dues without his written consent. Who is correct under Republic Act No. 9904?
The lessor is correct, since homeowners’ associations can only collect dues from registered property owners.
Both are correct, as written consent is optional but still required if the property has not yet been titled.
Neither is correct, because tenants are not allowed to be members of any homeowners’ association.
The association is correct, as lessees in government housing projects can qualify as members without requiring the owner’s written consent.
The president of a registered homeowners’ association repeatedly denied members access to financial records and board meeting minutes, ignored calls for a general assembly, and used association funds for personal expenses. After an internal complaint, the DHSUD imposed administrative sanctions. What is the most likely consequence under Section 23 of RA 9904?
The president may be permanently disqualified from holding any future position in the association and may be fined up to ₱50,000, without prejudice to possible criminal or civil liability.
The president may be removed from office only through a two-thirds vote of all members, as stated under governance procedures.
The DHSUD can only impose a warning and require remedial training before penalties can be considered.
The board of directors must first conduct its own internal investigation and disqualify the officer before DHSUD can intervene.
A multinational corporation decides to build a factory in a developing country due to lower labor costs, access to raw materials, and proximity to shipping routes. Which of the Five Themes of Geography is best illustrated by this decision?
Region
Location
Movement
Human-environment interaction
The city of Venice, Italy, is built on a series of islands and uses canals instead of streets for transportation. Over time, residents have adapted by developing boats for daily use and constructing buildings with water-resistant foundations. Which theme of geography does this best represent?
Human-environment interaction
Region
Location
Movement
A logistics company needs to determine the best warehouse site for distributing goods across a region. They consider the site’s exact coordinates for GPS routing, but also its proximity to major highways, airports, and urban centers to minimize transport time. Which statement best explains the difference between absolute and relative location in this scenario?
Absolute location changes over time due to urban development, while relative location remains constant.
Absolute location is concerned with the economic value of the land, while relative location is concerned with population density.
Absolute location refers to the site's elevation and climate conditions, while relative location focuses on the political boundaries.
Absolute location gives the fixed GPS coordinates of the site, while relative location explains how its position connects to surrounding transportation networks.
Which of the following regions is known as CARAGA, and what is its regional number?
Region VIII, covering the eastern Visayan islands and provinces
Region XIII, which includes provinces and cities from the northeastern portion of Mindanao
Region X, consisting of provinces and cities from the western portion of Mindanao
Region IX, which includes provinces and cities from the Zamboanga Peninsula
If Mount Apo is known as the highest peak in the Philippines, what is the second largest river system that can be found in Impasugong, Bukidnon?
Agusan River
Mount Kitanglad
Mindanao River
Mount Dulang-Dulang
What is the regional center of Region 12 (SOCCSKSARGEN)?
Kidapawan City
General Santos City
Koronadal City
Cotabato City
Which famous Philippine festival is celebrated in Davao City to give thanks for a bountiful harvest and to honor the cultural heritage of its indigenous peoples?
Sinulog Festival
Kadayawan Festival
Panagbenga Festival
Ati-Atihan Festival
Which of the following statements about latitude is correct?
Latitude lines are imaginary horizontal lines that measure a location’s distance north or south of the Equator.
Latitude lines run vertically from the North Pole to the South Pole and measure how far east or west a place is.
Latitude is measured in degrees from the Prime Meridian, which is located at 0° latitude.
Latitude increases as you move east or west and reaches 180° at the International Date Line.
Which of the following best describes an endemic disease?
A disease that appears suddenly and spreads rapidly across multiple countries.
A disease that has completely disappeared but might return through international travel.
A disease that causes severe symptoms only during certain seasons, like winter or summer.
A disease that is constantly present in a specific geographic area or population.
Ana sells her beachfront property to Liza but continues to live on the property after the sale, paying rent to Liza. Both parties agree that Liza will formally take possession of the property after one year, once Ana’s lease expires. Which form of traditio applies in this scenario?
Traditio realis
Traditio brevi manu
Traditio constitutum possessorium
Traditio longa manu
Lina, a former natural-born Filipino who became a U.S. citizen, wants to retire in the Philippines and buy a piece of land to build her home. She finds a 2,000 square meter lot in Quezon City and wants to purchase it. Under Philippine laws and constitutional provisions, can she legally acquire the entire property?
Yes, but only if she reacquires her Filipino citizenship through dual citizenship.
Yes, as a former Filipino she has full rights to acquire any size of land.
No, because former natural-born Filipinos are limited to 1,000 square meters of urban land for residential use.
No, because foreigners are not allowed to own land in the Philippines.
Carmen is building a second-story window in her house that directly overlooks her neighbor Lito’s garden, just 1 meter away from the property line. Lito objects, saying that the window invades his privacy and violates the law. Carmen insists she can build anything within her property. Under the law, who is correct?
Lito is correct; the law prohibits opening windows that directly face a neighbor's property at a distance of less than 2 meters.
Carmen is correct; owners may freely build openings as long as they are within their property.
Neither is correct; easements of light and view apply only to buildings over 3 stories.
Both are correct; a compromise agreement is legally required in cases involving privacy disputes.
Maria leases a commercial building for 10 years at a fixed annual rent significantly lower than current market rates. A new appraiser is tasked to value Maria's interest in the property for possible transfer. What type of interest does Maria hold that must be appraised?
Leasehold interest
Mortgage interest
Fee simple interest
Leased fee interest
Carlos decides to donate his house to his niece, Maria, while he is still alive. He executes a deed of donation, clearly stating that it will take effect immediately. Which type of donation does this scenario represent?
Donation mortis causa
Donation subject to a condition precedent
Donation inter vivos
Donation made under a will
In the context of value, which two factors are considered as demand-side influences?
Desire and effective purchasing power
Scarcity and desire
Utility and scarcity
Utility and purchasing power
A rare industrial warehouse has recently been listed for sale in a highly urbanized district. Several potential investors have shown interest but consider the property functionally obsolete due to outdated design and technology. Which factor of value is compromised?
Scarcity
Desire
Utility
Purchasing power
In a suburban neighborhood, most of the homes are single-family dwellings with large lawns and traditional architecture. A homeowner decides to build a modern duplex on their property, which contrasts sharply with the surrounding homes. Over time, the value of the property decreases. Which appraisal principle is most applicable?
Principle of progression
Principle of height and best use
Principle of substitution
Principle of conformity
A developer is considering purchasing a large plot of agricultural land located near a growing urban center. The land is currently being used for farming, but the developer believes the land would be more profitable if developed into a mixed-use residential and commercial complex. What principle of appraisal is being applied in this situation?
Principle of highest and best use
Principle of conformity
Principle of competition
Principle of substitution
In a neighborhood of high-end properties, an older, poorly maintained home is recently sold at a lower price than its neighboring homes. This sale has caused a temporary decrease in the values of surrounding properties, which are generally in good condition. Which appraisal principle explains the potential decrease in value of the nearby homes?
Principle of regression
Principle of progression
Principle of substitution
Principle of conformity
An appraiser is asked to determine the value of a small apartment complex that generates steady rental income. The appraiser estimates the net operating income (NOI) and applies a capitalization rate derived from similar investment properties in the area. Which approach to value is the appraiser using in this case?
Sales comparison approach
Cost approach
Income approach
Market extraction approach
Under the United Nations Convention on the Law of the Sea (UNCLOS), how far does the territorial sea of the Philippines extend from its baselines?
200 nautical miles
24 nautical miles
3 nautical miles
12 nautical miles
An appraiser is evaluating a 3-bedroom bungalow located in a quiet suburban area. A nearby 3-bedroom home recently sold for ₱4,200,000. The sold property is nearly identical except that it has a 2-car garage, while the subject property only has a 1-car garage. Market analysis shows that each additional car space typically adds ₱150,000 in value. What adjustment should the appraiser make to the sale price of the comparable property?
Add ₱150,000 to the subject property’s value
Subtract ₱150,000 from the comparable sale price
Add ₱150,000 to the comparable sale price
Subtract ₱150,000 from the subject property’s value
Which major language is predominantly spoken in Western Visayas, particularly in the provinces of Iloilo and Negros Occidental?
Cebuano
Bicolano
Waray
Hiligaynon
Which Executive Order did President Rodrigo R. Duterte sign to abolish the Negros Island Region (NIR)?
Executive Order No. 183
Executive Order No. 103
Executive Order No. 38
Executive Order No. 201
Which of the following best describes the primary objective of property appraisal?
To establish an opinion of value for a specific purpose as of a given date
To determine the tax liability of a property owner
To predict future market trends in a given location
To ensure all real properties are equally priced in the market
Which of the following best defines market value as used in property appraisal?
The cost to replace a property with a similar one using current materials and standards
The highest price a property can fetch when sold under urgent conditions
The estimated amount for which a property should exchange between a willing buyer and a willing seller in an arm's length transaction, after proper marketing and without duress
The value assigned by the local government for taxation purposes
Which of the following scenarios would most likely result in a value estimate not considered market value under appraisal standards?
A condominium unit sold by a willing seller to a willing buyer after negotiation, with market conditions properly reflected
A residential property sold after extensive marketing to the public, with both parties acting knowledgeably and voluntarily
A parcel of land sold by public bidding with multiple participants and full disclosure of the property condition
A commercial building sold quickly by a financially distressed owner to an investor aware of the owner’s urgency
