[ RESLE 2 ] Philippine Real Estate Service Licensure Exam Reviewer II

Philippine Real Estate Service Licensure Exam Practice Test

Instructions:

Please answer each question to the best of your ability. Each question is multiple choice, and only one answer per question is correct. Select the most appropriate answer from the options provided. There are 20 questions in total.

When you have completed all questions, click the "Submit" button at the bottom of the page to see your score. Good luck!

What is the basis of the assessed value for real property taxation?

A) Replacement cost
B) Improvement cost
C) Loan value
D) Market value

Which entity typically determines the local real property tax rates in the Philippines?

A) Department of Finance
B) Bureau of Internal Revenue
C) Local government unit (LGU)
D) Office of the City Assessor

Which type of tax is imposed specifically on land and buildings in the Philippines?

A) Value-added tax
B) Transfer tax
C) Capital gains tax
D) Real property tax

What is the maximum allowable real property tax rate for commercial properties in cities or municipalities in the Philippines?

A) 0.5%
B) 3%
C) 1%
D) 2%

When can a property owner apply for a tax amnesty in relation to real property taxes?

A) When the LGU announces it
B) Anytime after 3 years of non-payment
C) At the time of property sale
D) Every December

Who is responsible for paying real property taxes on a leased property?

A) Tenant
B) Property owner
C) Real estate broker
D) Property administrator

Which type of property is usually NOT subject to real property tax?

A) Government-owned property
B) Residential buildings
C) Commercial property
D) Agricultural land

Which of the following affects the market value of a property for tax purposes?

A) Location of the property
B) The property’s age
C) Recent market transactions
D) All of the above

What happens to a property if real property taxes remain unpaid for an extended period?

A) It can be rented by the government
B) The property owner is given a lifetime ban from selling the property
C) The property is devalued by the assessor
D) It can be auctioned by the LGU

In the event of an auction due to unpaid real property taxes, how is the auction price set?

A) At the owner’s desired price
B) Based on the LGU’s discretion
C) Based on the unpaid taxes and fees
D) According to the bidder’s highest offer

When is the first installment for real property taxes due each year?

A) March 31
B) June 30
C) September 30
D) January 31

How much is the special education fund (SEF) portion of the real property tax?

A) 1% of assessed value
B) 1% of market value
C) 0.5% of total value
D) 0.25% of market value

Which property is not subject to real property tax under Philippine law?

A) Charitable institutions
B) Private schools
C) Residential houses
D) Publicly listed buildings

Who is responsible for valuing properties for tax purposes in the Philippines?

A) Bureau of Internal Revenue
B) Department of Finance
C) Local Assessor’s Office
D) Office of the City Treasurer

When can a property owner appeal the assessed value of their property?

A) Within 60 days of receiving the tax bill
B) After paying the tax
C) Within 30 days of property transfer
D) Once every 3 years

Which type of property is typically taxed at a lower rate?

A) Agricultural land
B) Commercial property
C) Industrial property
D) Residential property

What is the primary use of revenue generated from real property taxes?

A) To fund national defense
B) For disaster response
C) To pay for road infrastructure
D) To fund local government services

Which of the following is a common exemption from real property tax?

A) Properties owned by non-profit organizations
B) Public hospitals
C) Privately owned recreational areas
D) Factories and warehouses

How often is the fair market value of properties reassessed for tax purposes?

A) Every 10 years
B) Every 3 years
C) Annually
D) Every 6 years

What happens if a property owner fails to pay their real property taxes for several years?

A) The property may be subject to public auction
B) The property’s value will decrease
C) The government will seize the property immediately
D) The property will be turned over to the national treasury

Result

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