Real Estate Terminologies

1. Real estate service act

A

.RA 9946

B

.RA 9646

C.RA 9656

D

.None of the above

2. Amortization

A

.The periodic payment which includes principal

B.The periodic payment which includes interest

C.The periodic payment which includes principal and interest

D

.None of the above

3. Failure to fulfill a duty to an obligation or to perform any act in writing that has been agree upon

A

.Deficiency

B.Default

C.Unearned increment

D

.Multiplier effect

4. Income approach

A

.

Process by getting the estimated commercial fair market value of a property by

capitalizing its annual income

B

.Process by getting the estimated commercial fair market value of a property by capitalizing its annual net income

C.Process by getting the agricultural, residential, industrial fair market value of a property by capitalizing the cost

benefit of the income

D

.None of the above

5. A condition where demand is more than supply

A

.Property owners market

B

.Sellers market

C.Sellers preference

D

.Choice properties

6. Buyer's full down payment

A

.Buyees equity plus miscellaneous expenses such as title transfer and mortgage registration

B.Buyer's equity plus miscellaneous expenses such as fire insurance and mortgage redemption

C

.All of the above

D

.None of the above

7. Earnest money

A.Amount accompanying offer to purchase to show good faith or genuine desire of the buyer

B.Amount accompanying letter of intent to show good faith in the future.--

C.Amount of no specified value to show good faith in a given transactions

D

.None of the above

8. An appraisal principle which holds that the value of a property tends to be adversely affected by association with

inferior properties

A.Principle of regression/

B

.Principle of less value

C.Principle of diminishing value

D.Principle of value subtractiory

9. Sellers market

A

.

Condition prevailing in an area as of a given time when there are few properties for sale against many buyers, in

which case price will go down

B.A condition prevailing in an area as of a given time when there are a few properties for sale against many

buyers , in which case price will go up

C.A conditions prevailing in area as of a given time where there are few properties against few buyers, in which

case there is no effect on the price

D.Condition prevailing in area as of a given time where there a few properties against few buyers in which case

there is a slight effect on the price

10. Value in economic sense

A

.Refers to the power to satisfy human wants

B

.Refers to the right of determining attributes to satisfy human wants

C.Refers to the power or attributes to satisfy human wants

D

.None of the above

11. Escheat

A

.Is the reversion of a private and public property because there is no heir

B.Reversion of the private property to the city due to the interstate death of the owner who is survived with no

legal heir

C

.Reversion of the private property due to the interstate death of the owner with no heir

D

.None of the above

12. Balloon payment

A

.

The final payment in an installment plan which is bigger than the previous installments and which liquidates part

of the obligation

B.The final payment in an installment plan which is bigger than the previous installments and which liquidates the

entire obligation

C.The final payment in a financing plan which is almost bigger than the previous installments and which liquidates

the obligation

D

.None of the above

13. A financing scheme under the unified home lending program to enable residents in depressedareas to acquire

their lots is called

A

.Lending mortgage for depressed areas program

B

.Barangay housing assistance program

C.Community mortgage program

D

.All of the above

14. Unearned increment

A.Increase in value of real estate with all the efforts or expenses by the owner

B

.Increase in value of real estate without any effort and expense by the owner

C.Increase in value and depreciation without any effort and expense by the owner

D

.None of the above

15. Split of commission with the co-broker

A

.50-50 basis

B.40-60 basis

C.It depends

D.As agreed

16. Buyer's equity

A.The difference between contract price and loanable amount

B.The difference between the fair market price and the loanable amount

C

.The difference between the contact price and the down payment

D

.The difference between the contract price and the selling price

17. Real estate

A.Refers to land sea air and useful improvements thereon

B.Refers to land and all improvements thereon

C

.Refers to land and useful improvement thereon

D

.Refers to land and selected improvement thereon

18. Listing

A

.

The authority given by the principal to the broker for the latter to negotiate the sale within a stipulated period

and at stated price and terms

B.The demand letter given by the broker to the seller to negotiate for payment of commission

C.The authority to buy and sell properties

D

.All of the above

19. Infiltration is the displacement of present residents by people of lower economic status or ofdifferent cultural

or social background

A

.

Displacement of present residents of various economic status or of similar cultural

background

B.Displacement of present and past residents of lower and middle economic status or of different cultural or social

background

C.Displacement of present residents people of means or of different or social background

D.Displacement of present residents by people/of lower economic status or of different cultural or social

background

20. Set back

A

.

The term refers to the zoning regulations which designates the distance of a building must be set back from

another property line

B

.The term refers to the regulation; which designates the distance-from a lot to the other property line

C.The term refers to the zoning regulations which designates the distance of a house must be set back from

another house

D

.None of the above

21. An improvement which is not suitable to the site on which it is placed because of deficient sizeor cost

A.Below value improvement

B.Unearned increment

C.Incidental increment

D

.Under improvement

E.Under innovations

22. Default

A

.Failure to fulfill a duty and a promise in an instrument in writing that has been agreed upon

B.Failure to discharge an obligation and perform any act in an instrument that has been agreed upon

C

.All of the above

D

.None of the above

23. Parapherna!

A

.Refers to the property exclusively owned by a wife and husband

B

.Refers to the property exclusively owned by a wife

C

.Refers to the property exclusively owned by a husband

D

.Refers to the property exclusively owned y the children

24. The philippine regulatory board of real estate services

A.5 commissioners

B.4 commissioners

C.3 commissioners

D

.None of the above

25. Market study is

A

.The study of current supply-and demand conditions in a given area of a specific property

B

.The study of past and current demand conditions of a specific property

C.The study of current demand conditions in various areas of properties

D

.The study of current supply and demand conditions of various properties in all areas

26. Value in appraisal sense

A.Refers to the present worth of future benefits arising from the ownership of a property

B.Refers to the present and future benefits from the ownership of a property

C

.Refers to the future and past benefits from the ownership of a property

D

.All of the above

27. Cul de sac

A

.A passage with an access in one or two ends

B

.A passage with no end

C

.A passage with an access in one end

D.A passage with two or more ends

28. Increase in value of real estate without any effort or expense by the owner

A.Add on increment

B.Unearned increment

C.Incidental increment

D

.Unforeseen values

29. An appraisal principle which holds that the value of a property tends to be enhanced byassociation with,

superior properties.

A

.Principle of addition

B.Principle of progression

C.Principle of value added

D.Principle of multiplier effect

30. Just compensation

A.Payment of a fair and reasonable amount for a property taken from a private person by the government body

B.Payment of a fair and reasonable amount for a property taken from a private person by another private entity

C.Payment of a fair and reasonable amount for a property taken from a private person by another non government

office

D

.None of the above