[ RESLE 3 ] Philippine Real Estate Service Licensure Exam Reviewer III

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!

Maria is considering buying a residential property in Quezon City. After viewing the house, she notices that the property has no access to a main road. How might this affect her property's value?

A) The property's value may decrease due to accessibility issues.
B) The property's value will remain the same.
C) The property's value will increase due to privacy.
D) The property's value will only affect the resale value, not the purchase price.

Juan, a real estate agent, is negotiating a sale for a commercial property. The seller insists on a higher price than the appraised value. What should Juan do to effectively negotiate the sale?

A) Agree to the seller's price without question.
B) Educate the seller on the market value and provide comparable sales.
C) Walk away from the deal immediately.
D) Offer a lower price without further discussion.

In a recent property appraisal, it was discovered that the land title of a property in Cebu was not updated for 20 years. What impact could this have on the property's sale?

A) The property may face legal issues during the sale.
B) The property will sell for a higher price due to its age.
C) The property will attract more buyers.
D) The appraisal value will be unaffected.

Carla is a property manager for a rental apartment in Makati. One of her tenants has not paid rent for three months. What should Carla do first?

A) Evict the tenant immediately.
B) Contact the tenant to discuss the issue.
C) Ignore the situation to avoid conflict.
D) Raise the rent for other tenants to cover the loss.

During an open house, a potential buyer expresses concern about the proximity of the property to a landfill. What should the real estate agent inform the buyer about this issue?

A) The proximity could affect air quality and property value.
B) The buyer should ignore it since it’s a common issue.
C) The landfill has no impact on property value.
D) The landfill is good for the environment.

Mark is considering investing in a new condominium development in Taguig. What key factor should he research before making his investment?

A) The builder's reputation and past projects.
B) The color of the units.
C) The personal preferences of current residents.
D) The price of nearby fast food restaurants.

A real estate agent has received a commission for selling a property. However, the seller claims that the agent misrepresented the property details. What could be the potential consequence for the agent?

A) The agent may face legal action for misrepresentation.
B) The agent will receive a bonus.
C) The agent will be praised for their efforts.
D) The agent's commission will increase.

Julia is planning to sell her family home in Davao City. She discovers that her neighbor has built a fence that encroaches on her property. What should Julia do?

A) Discuss the issue with her neighbor to resolve it amicably.
B) Ignore the situation since it’s minor.
C) Immediately contact a lawyer to file a complaint.
D) Tear down the neighbor’s fence.

In a recent property listing, the broker accidentally listed a property at a price much lower than its market value. What could be a potential outcome of this mistake?

A) The property will likely sell quickly, benefiting the seller.
B) The seller may refuse to honor the listed price.
C) The buyer will be disappointed with the mispricing.
D) The broker will be celebrated for their marketing skills.

A homeowner in Pampanga wants to renovate their house to increase its value. Which of the following renovations would likely provide the best return on investment?

A) Updating the kitchen with modern appliances.
B) Painting the front door a bright color.
C) Adding a swimming pool.
D) Installing expensive landscaping features.

David is purchasing a piece of agricultural land in Batangas. What is a crucial step he should take before finalizing the purchase?

A) Verify the land's zoning and permitted uses.
B) Check the color of the soil.
C) Ask for recommendations on nearby restaurants.
D) Consult friends who live nearby.

In a condominium association meeting, the members discuss increasing monthly dues to improve building maintenance. What should the association consider before making this decision?

A) The preferences of only the board members.
B) The financial impact on all unit owners.
C) The potential for new buyers.
D) The cost of utilities.

During a property inspection in Iloilo, the inspector finds several structural issues that need immediate attention. What should the buyer do next?

A) Negotiate with the seller for repairs or a price reduction.
B) Ignore the inspector's findings.
C) Proceed with the purchase without concern.
D) Immediately cancel the purchase agreement.

A family in Cavite is considering renting out a part of their home for extra income. What is the first legal step they should take?

A) Check local regulations regarding rental properties.
B) Advertise the space online.
C) Start renting out the space immediately.
D) Ask neighbors for advice.

When evaluating a potential investment property, what financial metric is essential for determining profitability?

A) Capitalization rate.
B) Square footage.
C) Color of the walls.
D) Number of bedrooms.

A couple is considering purchasing a house in a gated community in Laguna. What advantage might this community offer them?

A) Increased security and controlled access.
B) Lower property values.
C) Lack of amenities.
D) Fewer neighbors.

During a negotiation, the seller of a property refuses to lower their asking price despite market conditions. What should the buyer consider next?

A) Accept the seller's price without question.
B) Evaluate other properties in the area.
C) Offer a higher price.
D) Pressure the seller with urgency.

In an auction for a property in Baguio, the bidding process becomes competitive. What strategy should the potential buyer use to secure the property?

A) Set a budget limit and stick to it.
B) Bid as high as possible to intimidate others.
C) Wait until the last moment to place a bid.
D) Withdraw if the bidding gets too high.

A real estate investor is considering a property with a high vacancy rate in Quezon City. What should they investigate further?

A) The reasons for the high vacancy rate.
B) The color of the building.
C) The size of the parking area.
D) The number of trees nearby.

After a natural disaster, a homeowner discovers damage to their property in Pampanga. What is their first step in addressing the damage?

A) Contact their insurance company to file a claim.
B) Start repairs without consultation.
C) Sell the property immediately.
D) Wait for a neighbor to assess the damage.

Result

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