SET 4 - PRACTICE EXAMINATION

PROFESSIONAL APPRAISAL PRACTICE

(150 POINTS - 50%)
INSTRUCTION: Choose the best answer. Read the questions carefully and encircle the letter of your
choice. Try to answer the questions based on your appreciation and understanding supported with
theories and principles. Mark only one answer for each item by shading the box corresponding to
the letter of your choice on the answer sheet provided. STRICTLY NO ERASURES ALLOWED.

MULTIPLE CHOICE
1. Value adjustments based on factors not specified in the SMV; adversely affecting the value
of the property, shall be applied, except for –
a. Shape c. Topography
b. Blighted status d. Size

2. The rule in the appraisal of buildings shall be in accordance with the –

a. Base Unit construction Cost (BUCC) c. SMV
b. Tax roll on Buildings d. Assessment Roll

3. When real property is assessed for the first time or when an existing assessment is increased
or decreased, the LGU shall within 30 days, on such new or revised assessment to the
person in whose name the property is declared, shall give a:
a. Electronic Mail c. Written Notice
b. Telephone Call d. Personal Visit

4. All assessments made after the 1st day of January of any year shall take effect on the 1st
day of the succeeding year, provided, however, that the reassessment of real property due
to its partial or total destruction, or to a major change in its actual use, or to any great and
sudden inflation or deflation of real property values, or to the gross illegality of the
assessment when made, or to any other abnormal causes, shall made within:
a. 30 days from the date any such cause occurred; the same to take effect at the
beginning of the quarter next following the reassessment
b. 60 days from the date any such cause occurred; the same to take effect at the
beginning of the quarter next following the reassessment
c. 90 days from the date any such cause occurred; the same to take effect at
the beginning of the quarter next following the reassessment
d. 120 days from the date any such cause occurred; the same to take effect at the
beginning of the quarter next following the reassessment

5. The distribution of the collected real property tax proceeds in case of provinces shall
be:
a. Province, 30%: Municipality, 40%: Barangay,30%
b. Province, 35%: Municipality, 35%: Barangay,30%
c. Province, 35%: Municipality, 40%: Barangay,25%
d. Province, 30%: Municipality, 35%: Barangay,35%

6. The distribution of the collected real property tax proceeds in case of cities shall be:
a. City, 75%: Barangay, 25% c. City, 80%: Barangay, 20%
 b. City, 70%: Barangay, 30% d. City, 85%: Barangay, 15%

7. The distribution of the collected real property tax proceeds in case of MM/Municipality
shall be –
a. MMDA, 35%; Municipality 30%; Barangay, 35% where 50% to host barangay
b. MMDA, 35%; Municipality 30%; Barangay, 35% where 50% to host barangay
c. MMDA, 35%; Municipality 35%; Barangay, 30% where 50% to host barangay
d. MMDA, 30%; Municipality 35%; Barangay, 35% where 50% to host barangay

8. A computer-based technology designed to capture geographic data from various sources,

and process these data to produce information and graphical outputs in support of planning,
management and decision-making concerning the utilization of land resources A computer-
based tool for mapping and analyzing things that exist and events that happen on earth.
a. Geographic Information System c. Software
b. Hardware d. People

9. The device that the user interacts with directly in carrying out GIS operations.
a. Geographic Information System c. Software
b. Hardware d. People

10. The engine for carrying out GIS operations and is a collection of programs that
encapsulate geographic processing functions –
a. Geographic Information System c. Software
b. Hardware d. People

11. The rule for adjustment of Triangular lots with its base on the street is –
a. Compute as a rectangular lot then take 2/3 of the resultant value
b. Compute as a rectangular lot then take 1/3 of the resultant value
c. Compute the value of the rectangular and triangular portions separately
according to the rules hereof, then get the summation
d. Reduce the irregular lot to the nearest equivalent rectangular, triangular and
trapezoidal sectors and apply the foregoing rules

12. The Rule for adjustments of Triangular lot with its apex on the street is –
a. Compute as a rectangular lot then take 2/3 of the resultant value
b. Compute as a rectangular lot then take 1/3 of the resultant value
c. Compute the value of the rectangular and triangular portions separately
according to the rules hereof, then get the summation
d. Reduce the irregular lot to the nearest equivalent rectangular, triangular and
trapezoidal sectors and apply the foregoing rules

13. The Rule for adjustment of Irregular lot is –

a. Compute as a rectangular lot then take 2/3 of the resultant value
b. Reduce the irregular lot to the nearest equivalent rectangular, triangular
and trapezoidal sectors and apply the foregoing rules
c. Compute as a rectangular lot then take 1/3 of the resultant value
d. Compute the value of the rectangular and triangular portions separately
according to the rules hereof, then get the summation

14. The rule for adjustment of Trapezoidal lot is –

a. Compute the value of the rectangular and triangular portions
separately according to the rules hereof, then get the summation
 b. Compute as a rectangular lot then take 2/3 of the resultant value
c. Compute as a rectangular lot then take 1/3 of the resultant value
d. Reduce the irregular lot to the nearest equivalent rectangular, triangular and
trapezoidal sectors and apply the foregoing rules

15. The Rule in the appraisal of machinery and equipment with respect to the pricing and
estimating the cost of reproduction includes the following, except –
a. Cost of machine, auxiliaries and/or optional accessories
b. Freight, Insurance, Bank charges
c. Cost of demobilization
d. Brokerage, arrastre, heavy lifts, Customs duties, taxes, and installation

16. Skilled workers, who design, program, and maintain it, supply it with data and interpret its
results.
a. Geographic Information System c. Software
b. Hardware d. People

17. Timber and forest lands belonging to the Republic or any or its political subdivisions,
however, the beneficial use thereto has been granted to a taxable person shall be appraised
and assessed against the beneficial user at the market value based on the marketable
volume of timber “actually cut” annually from the operational area during the preceding year;
regardless of the annual total “allowable cut” in the lease agreement and shall be –
a. Exempted c. Excluded
b. Be subject to real property tax d. Re-classified

18. Mineral lands shall be appraised annually against the beneficial user or concessionaire on
the basis of –
a. The value of extracted material c. the value of the type of minerals
b. The size of concession d. the date of extraction of the mineral

19. A commercial property producing an annual gross income of P985,000 was sold a
month ago for P9.50M. the property’s gross income multiplier is:
a. 8.55% c. 8.65%
b. 9.55% d. 9.65%

COMPUTE: 9,500,000 / 985,000= 9.65%

 20. El Niño Realty, Inc. decided to go into a small-scale townhouse development and sales
business. It bought a 1,000 sqm vacant residential lot for P2,500 per sqm and constructed
six (6) townhouses on it. Each townhouse has a floor area of 150 sqm and cost P8,000 per
sqm of floor area to construct. Other expenses were: P600,000 for a common driveway,
P200,000 for a drainage system, P150,000 for water supply system, P400,000 for fencing
and a gate with guardhouse and P100,000 for landscaping. The townhouses were later sold
at P2,500.00 each. What is the gross profit and the rate of Return on the Investment.
a. P3,660,000; 35.53% c. P3,850,000; 34.52%
b. P3,360,000; 33.65% d. P3,850,000; 34.65%

COMPUTE: Gross Sales (2,500,000 x 6) = P15,000,000

Land (1,000 sq.m @ P2,500 sq.m) = P 2,500,000
Townhouses Construction Cost (6 units x 150 @ P8,000 sq.m) = P 7,200,000
Common driveway = P 600,000
Drainage system = P 200,000
Water supply system = P 150,000
Fencing and a gate with guardhouse = P 400,000
Landscaping = P 100,000
Total Deductions = P11,150,000
Gross Profit = P 3,850,000

Rate of Return on the Investment = Gross Profit = P 3,850,000 = 34.52%

Total cost of the units sold P11,150,000

21. Which of the following is not a method of appraising an unimproved real property?
a. Direct Sales Comparison Approach
b. Cost of development Method
c. Reproduction Technique
d. Depreciation Method

22. Primary data refers to –

a. The main data used by the appraiser
b. Data collected by the appraiser
c. Data that have a direct impact on value
d. Market data

23. Which of the following approaches to value would involve an investigation of the rent
schedules of the subject property and the comparable?
a. Cost Approach c. Income Approach
b. Sales Comparison Approach d. Capitalization Approach

24. The age indicated by the condition and utility of the structure is called –
a. Economic Age c. Estimated Age
b. Effective Age d. Actual Age

25. The method of construction cost or reproduction cost estimating is –

a. Cost Method
b. Straight-line Method
c. Quantity Survey Method or Volume Method or Area Method
d. Market Method
26. When choosing Comparable for the Market comparison approach, property characteristics
that should be identical or very similar to those of the Subject includes the following –
a. Replacement Cost
b. Economic obsolescence, Functional Obsolescence and Economic Obsolescence
c. Reproduction Cost
d. The size of lot and building, age of building, type of construction, number
and type of rooms

27. The approach to value would involve an investigation into the rent schedules of the
subject property and the Comparable –
a. Cost Approach c. Sales Comparison Approach
b. Market Data Approach d. Income Approach

28. Important reference materials that maybe available from Assessor’s office is –
a. Vicinity Map c. Location Map
b. Geographic Map d. Parcelliary Map

29. Amount that could be realized from sale of a dismantled asset to be removed for used
wholly or partially.
a. Scrap Value c. Salvage Value
b. Sound Value d. Liquidation Value

30. Amount that would be realized from disposition of the property in the used market
assuming a relative short period of time.
a. Liquidation Value c. Scrap Value
b. Salvage Value d. Sound Value

31. Appraisal for the price that a property would sale based on quick sales,
a. Scrap Value c. Market Value
b. Sound Value d. Liquidation Value

32. Estimate derived by observing completed transaction involving a large degree of

amenities or other personal and unpredictable factors.
a. Scrap Value c. Capricious Value
b. Sound Value d. Liquidation Value

33. The appraisal process requires the appraiser to collect record and verify –
a. Only data on the subject property’s neighborhood
b. Data on all neighborhood in the city
c. General Data on the Region, City and Neighborhood
d. Data on an annual basis

34. In purchasing an older structure, the buyer would give most consideration to its –
a. Estimated Economic Life c. Effective Life
b. Remaining Economic Life d. Actual Life

35. Which of the following is not a method of appraising unimproved real property?
a. Direct Sales comparison Approach c. Cost of Development Method
b. Abstraction d. Reproduction Technique

36. Refers to the assignment of names or numbers to categories where the names or
numbers to categories have not mathematics meanings
a. Normal Level of Measurement c. Ordinal Level Measurement
b. Ratio Level of Measurement d. Multi-Modal
37. Is the difference between the highest and the lowest scores in a distribution
a. Median c. Range
b. Mode d. Mean Deviation

38. In the building residual technique, the appraiser starts with the assumptions of
a. Land Value c. Average Value
b. Property Value d. Building Value

39. Refers to a parallelogram whose angles are oblique and who sides are equal
a. Octagon c. Rhombus
b. Triangle d. Square

40. The reflects the generally Accepted Valuation Principles and the Market Value
applications require the development of valuations solely on the basis of .
a. Valuation Process; market data c. Valuation; market industry
b. Valuation Process; data d. Valuation; market data

41. Neighborhood social influences include all of the following except

a. Occupant age levels c. Vacancy rates
b. Occupant skill levels d. Population density

42. In every appraisal, the Appraiser will begin the analysis of data that
consider the_________that influence the subject to determine the subject’s most
profitable use of which to base____________.

a. By conducting a reconciliation analysis; market forces; the opinion of value

b. By conducting a highest and best use analysis; market forces; the final
opinion of value
c. By conducting a highest and best use analysis; market characteristics; the final
opinion of value
d. By conducting an appraisal process; market characteristics; the final opinion of
value

43. It is simple Certificate or Letter where the Appraiser’s Opinion of Value is stated. It is not
an Appraisal Report because it does not contain or state any supporting date or
interpretation leading to the Appraiser’s conclusion of value.
a. Narrative report c. Standard Form report
b. Bank from report d. Certificate/Letter Form

44. It reflects the Appraiser’s ability to understand the basic economic appraisal principles, his
ability to interpret pertinent data and judgment in selecting the appropriate appraisal method
and technique as well as his skill in applying them to derive an estimate of a specifically
defined value
a. Narrative report c. Standard Form report
b. Bank from report d. Certificate/Letter Form

45. It is a comprehensive or complete type of Appraisal Report. It affords the Appraiser the
opportunity to support his opinions and conclusions of value which would convince the
Reader/Client of the soundness of his estimate. A summary of the appraisal methods and
techniques which the Appraiser has applied to factual material within the framework of the
appraisal process to arrive at conclusion of value
a. Narrative report c. Standard Form report
 b. Bank from report d. Certificate/Letter Form

46. Which of the following statements are correct

a. The income approach cannot be used to single-family homes
b. The cost approach is the most effective when the structure is older
c. All value approaches are equally valid and reliable and should be given equal
weight
d. Certain value approaches are more valid and reliable with some kind
of properties that with others

47. The essential difference between the three reporting opinion is

a. The number of comparable needed for the appraisal
b. The level of detail required
c. The number of value approaches required
d. The accuracy of the value conclusion

48. The part that indicates how many parts a whole is divided into is the
a. Denominator c. Numerator
b. Integer d. Divisor

49. The assessed value of the property is P500,000. What us the market value if the ratio of its
assessed value to market value is 80%?
a. P475,000 c. P600,000
b. P625,000 d. P640,000

COMPUTE : 500,000 / 80% = 625,000

50. It may have investment value since they can be produced, acquired or held for the sake of
monetary income and for profit
a. Investment Value c. Market Value
b. Owner’s Value d. Liquidation Value

51. Valuation of Plant and Equipment (P & E) can be carried out using –
a. All of the three approaches
b. Any of the three approaches
c. Sales Comparison Approach and Cost Approach only
d. Cost Approach and Income Capitalization Approach only

52. Machinery used to transform/process materials from one state to another, whether it is
movable, permanent or semi-permanent machinery –
a. Material Handling Equipment c. Transportational Equipment
b. Industrial Machinery d. Agricultural Machinery

53. Equipment used in handling or transporting raw materials or finished goods within the
plant vicinity –
a. Material Handling Equipment c. Transportational Equipment
b. Industrial Machinery d. Agricultural Machinery

54. Is the average; that is the sum of the variates divided by the number of variates –
a. Mode c. Mean
b. Median d. Range
55. According to the rules in the appraisal of agricultural lands for assessment purpose, RA
7160 has no specific provisions on the valuation and assessment of –
a. Plant and trees c. Agricultural lots
b. Farm lands d. Rawlands

56. Agricultural lands convertible into residential subdivisions or industrial use shall be
classified and value as –
a. Residential c. Agricultural
b. Industrial d. Agro-residential

57. GIS require management and it must establish procedures, lines of reporting, control points,
and other mechanisms for ensuring that its GIS activities stay within budget, maintain high
quality and generally meet the needs of the –
a. People c. Data
b. Organization d. Data Management

58. Digital representation of selected aspects of some specific area of the earth’s surface or
near surface, built to serve some problem solving or scientific purpose is –
a. People c. Data
b. Organization d. Data Management

59. Refers to when data volume becomes large database management system to store,
organize, and manage data are stored conceptually as a collection of tables.
a. People c. Data
b. Organization d. Data Management

60. Refers to the art of determining the position of points on or near the earth’s surface by means
of measurement in the three elements of space, namely: distance, direction and elevation.
Also refers to the science and art of determining the area and configuration of portions of
the surface of the earth and representing them on maps.
a. Surveying c. Cadastral
b. Mapping d. Planning

61. Machinery shall embrace machines, mechanical, contrivances and apparatus attached to
–
a. Land c. Building
b. Real property d. Real estate

62. When appointed officially by the courts to assist in the determination of the “just
compensation” in the expropriation proceedings, the appraiser assumes the role of the
court.
a. Friend (amicus curae) c. Respondent’s/ plaintiff’s witness
b. Commissioner d. Technical analyst

63. Right of condemnation are held by a –

a. State government agency
b. Local agency or authority representing the national government agency
c. Utility company
 d. All of the above

64. Eminent domain requires –

a. Appraisal process for the estimation of real property value
b. Just compensation for specific types of financial loss
c. Due process for the taking of property through condemnation
d. Protection for the general welfare

65. All of the following statements are true except –

a. Appraising is the art and science of estimating the value of an asset
b. Assets typically requiring appraisal include real and personal property
c. Real property refers to items that are not permanently fixed to a part of the
real estate
d. Asset value change with time

66. includes not only the ground or soil but everything is attached to the earth whether by
course of nature or by man.
a. Land c. building
b. Other land improvements d. real property

67. The Assessor’s Office is an agency where we inquire and conduct research on
a. Title verification c. Cadastral or tax map
b. Zonal value d. Certified lot pain

68. A status wherein a person died without any normal heirs.

a. Intestate c. Interstate
b. Interest d. Intrastate

69. Law concerning natural-born citizen of the Philippines who has lost his Philippine citizenship
and would like to acquire private land in the Philippines at 1,000 sqm in urban area or 1
hectare in rural area. May acquire only a maximum of 2 lots situated in different
municipalities/cities.
a. BP 185, 1982 c. RA 9225, 1996
b. RA 7042, 1991 d. PD 957, 1975

70. Law about any natural born citizen who has lost his Philippine Citizenship and who has legal
capacity to enter into contract may be a transferee of private land and acquire maximum of
5,000 sq.m of urban land or 3 hectares of rural land. Spouses are considered as one and
therefore may not exceed the limit set forth.
a. RA 7042: Foreign Investment Act of 1991 c. RA#9225: Dual Citizenship Law
b. 1973 Constitution d. RA#4726: Condominium Law
c. 1987 Constitution

71. Seizure of a property by a court order, usually done to have it available in the event of
adverse judgment of a pending suit, is –
a. Escheat c. Foreclosure
b. Forfeiture d. Attachment

72. In case of good faith, prescription is –

a. 5 years c. 15 years
b. 10 years d. 20 years

73. Ownership of a piece of land can be acquired through any of the following modes,
 except –
a. Tradition c. occupation
b. Prescription d. accretion

74. The bundle of right which is inherent in ownership without any limitations other than
those imposed by law or contract is:
a. Free estate c. fee simple
b. Tenancy in common d. lease free estate

75. It is an encumbrance imposed upon an immovable for the benefit of another immovable
belonging to another –
a. Nuisance c. Easement
b. Right of way d. Private nuisance

76. The following liens can be found at the back of the TCT, except –
a. Real estate taxes lien c. Mortgage lien
b. Buyer’s lien d. Judgment lien

77. The schedule of FMV in the municipalities of Metro Manila is prepared by –

a. MMDA c. Concerned Municipal assessors
b. Sanggunian Bayan by ordinance d. Province of Manila

78. The following composed the Board of Assessment Appeals in the City of Manila, except –
a. City/Provincial Register of deeds c. City/Provincial Prosecutor
b. City/Provincial Engineer d. City/Provincial Assessor

79. Refer to those issued by the Bureau of Lands/DENR under Public Act Land (CA#141) on
the basis of continuous occupation by the applicant of land classified as alienable or
disposable lands of the public domain.
a. Free Patent c. Sales Patent
b. Homestead Patent d. Special Patent

80. Refers to grant of public lands to persons seeking to establish and maintain agricultural
homes on condition of actual, continuous and personal occupancy of the area as a home
including cultivation and improvement of the land.
a. Free Patent c. Miscellaneous Sales Patent
b. Homestead Patent d. Sales Patent

81. Refers to the release of lands for agricultural purposes thru Insular Government
Property Sales Application per RA#3038 –
a. Free Patent c. Sales Patent
b. Homestead Patent d. Special Patent

82. Refers to the patents for residential, commercial, industrial, educational, charitable and
other similar purposes as governed by Chapter IX of the Public Land Act (CA#141) –
a. Miscellaneous Sales Patent c. Sales Patent
b. Free Patent d. Special Patent

83. Refers to Patent issued only by the President of the Philippines purposely to reclaimed lands
along Roxas Blvd., Cebu City and the untitled patrimonial property in Fort Bonifacio –
 a. Free Patent c. Sales Patent
b. Homestead Patent d. Special Patent

84. The Land Registration Administration (LRA) is under the administrative control of –
a. Department of Environment and Natural Resources (DENR)
b. Department of Justice
c. Department of Agriculture
d. Office of the President

85. Decisions of HLURB on cases under its jurisdiction are appealable to the –
a. Regional Trial Court c. Department of Justice
b. HUDCC d. Office of the President

86. Acquisitions through the will of the owner or testator is –

a. Possess c. devise
b. Dispose d. Regime of separation of property

87. The right or pre-emption or right of 1st refusal under PD#1517-Urban Land Reform is
exercisable by a legitimate tenant land if he has occupied the land for –
a. 6 years c. Over 30 years
b. Not less than 1 year d. at least 10 years

88. It is a factor that triggers varied effects in real estate such as business activities, new
income opportunities, environment and an enhanced market for construction materials.
a. Highest and best use theory c. foreclosures and consolidation
b. Multiplier effect of real estate d. forces that create value

89. “Right of way” is a kind of –

a. Easement and servitude c. Servient estate
b. Accretion d. Dominant estate

90. The “bundle of rights theory” also means –

a. Right of land beneficiary c. rights of fee simple
b. Rights of vendee-a-retro d. rights of buyer

91. Survey symbols that represents the subdivision survey by private geodetic engineer –
a. Pcs c. Psd
b. Bsd d. Pcn

92. The following are Assessor’s task and the most important components of the
assessment process, except –
a. Locate and discover each and every single real property unit.
b. Identify, list and assign their individual property identification number
c. Maintain an efficient data bank were all the vital information on every
real property unit situated within their jurisdiction is stored
d. Prepare the tax assessment roll

93. In the process of conducting the general revision of real property assessments the existing
active tax declaration are used as the main source of information for re- declaring real
properties –
 a. If ownership of property has not changed
b. If ownership of property has changed
c. If ownership of property is unknown
d. If ownership of property is known

94. The short-lived “1st Philippine Republic of 1898 provided for a system of realty taxation
but was not implemented fully under the –
a. Malolos Constitution c. 1935 Constitution
b. 1973 Constitution d. 1987 Constitution

95. The laid the ground works of real property taxation in the Philippines. In 1901, the
Philippine Commission promulgated Act Nos. 82 and 83 authorizing municipal and
provincial treasurers to levy realty taxes at rates not exceeding ½ of 1% and 3/8 of 1%
respectively, in the organization of local governments.
a. Spaniards c. Roman Empire
b. Americans d. Japanese

96. Act No. 2657- Administrative Code of 1916 established the –

a. Municipal Code and Provincial Act c. City and Provincial Act
b. City and Municipal Act d. Provincial code

97. Act No. 3995 created the –

a. Office of the City Assessor c. Office of the Provincial Assessor
b. Office of the Municipal d. Office of the District Assessor

98. The National Assembly of 1939 enacted the –

a. Commonwealth Act No. 470 c. Administrative Code of 1916
b. Act No. 3995 d. Act No. 3995

99. During Martial Law, sweeping reforms on real property taxation were introduced
through –
a. PD# 25 and 76 c. PD# 25 and 26
b. PD# 75 and 76 d. PD# 74 and 75

100. This Code became the basis of the Real Property Tax Administration System in the
Philippines in 1974.
a. Real Property Tax Code c. Valuer’s Code
b. Real Property Code d. Tax Code

101. The Office of the Municipal Assessors were created in –

a. 1976 c. 1978
b. 1977 d. 1979

102. PD 464, as amended, was recognized under the –

a. Local Government Code of 1991 c. Local Government Code of 1985
b. Local Government Code of 1992 d. Local Government Code of 1986

103. The 1987 Constitution paved the way for the Local Government Code of 1991
which refers to –
a. RA#7160 c. RA#6425
b. RA#7835 d. RA#7279
104. In 2001, the Land Administration and Management Program, Phase I (LAMP 1), a
15- 20-year commitment of the Philippines Government was launched. This was intended
for the following, except –
a. Poverty alleviation c. economic growth
b. Equitable real property valuation d. assessment and taxation

105. LAMP2, pursuant to its Valuation Education Program, signed a Memorandum of

Understanding (MOU) with the University of the Philippines Open University (UPOU) on the
development and delivery of training and education programs for real property valuation, in
–
a. 2007 c. 2008
b. 2005 d. 2006

106. On May 2009, the UPOU Courseware Development Team paid an immersion visit
to Central Queensland University (CQU), Australia for exposure to –
a. International best practices c. international best regulations
b. International best appraisal d. international best valuations

107. On October 13, 2009, Executive Order No. 833 this office was created for purposes
of sustaining and institution real property valuation reforms –
a. Property Valuation Office c. Philippine Valuation Office
b. Real Property Valuation Office d. Philippine Property Valuation Office

108. DOF Department Order No. 37-09 prescribed the Philippine Valuation
Standards (1st Edition) – Adoption of the IVSC Valuation Standards under Philippine
Setting, on-
a. September 19, 2009 c. November 19, 2009
b. October 19, 2009 d. December 19, 2009

109. The filling of sworn declaration of the true value of property in the assessor, by
the owner or administration is required under Section 202 of the Local Government Code:
a. Once every three years c. once every two years
b. Once every 5 years d. once every 10 years

110. The Local Government Code requires the person acquiring at any time real property
or making any improvement on real property belonging to him, to prepare and submit to the
assessor, a sworn statement declaring the true value of the property:
a. Within 30 days after the acquisition of such property or the completion of the
improvements made
b. Within 60 days after the acquisition of such property or the completion of
the improvements made
c. Within 90 days after the acquisition of such property or the completion of the
improvements made
d. Within 120 days after the acquisition of such property or the completion of the
improvements made

111. Declaring newly acquired, newly built, or newly transferred real property is required
under the following conditions, but not:
a. The property may be assessed at the proper time and avoid on the part of the
property owner the accumulation of back taxes.
 b. Real property records may be updated to indicate present ownership
c. Real property records may be amended, corrected, or updated to accordingly reflect
the changes in the condition, classification, taxability, or other variations made on the
property
d. Real property records may be revised to indicate previous ownership

112. Declaring newly acquired, newly built, or newly transferred real property is
required under the following conditions, not –
a. Demolition of buildings or other structures
b. Dismantling and cessation of operation of machinery
c. Change in classification and or Correction in area
d. Conversion of presently taxable properties to exempt

113. A copy of the assessment roll must be transmitted to their respective local treasurers;
except in cases where the assessor’s records are computerized and the same are directly
and operationally connected to the Treasurer’s Offices in the form of –
a. Assessment network system c. Local Area Networking (LAN)
b. City network system d. Municipal network system

114. For purpose of recording and maintaining statistical data, a separate roll shall
be prepared for –
a. Exempt properties c. taxable properties
b. Assessed properties d. listed properties

115. The following are four (4) most important elements of the assessment process,
except –
a. Classification, Actual use, Assessed Value, Assessment Levels
b. Assessment levels, Actual Use, Assessment Levels, Tax rate
c. Assessed value, Classification, Tax Rate, Actual Use
d. Assessed value, Classification, Tax Rate, Assessment Levels

116. The basis for the assessment of real property in the Philippines, regardless of
where the property is located, whoever owns it and whoever uses it.
a. Classifying the property c. Actual Use of property
b. Assessing the property d. Assessment Levels

117. Assessment levels are fixed on the basis of –

a. Actual use of the property c. Assessing the property
b. Classifying the property d. Assessment Levels

118. Real properties owned by the Republic of the Philippines or any of its
political subdivision are exempted from payment of real property taxes, except –
a. When the beneficial use thereof has been declared to taxable persons
b. When the beneficial use thereof has been granted to taxable properties
c. When the beneficial use thereof has been granted to taxable persons
d. When the beneficial use thereof has been declared as taxable properties

119. These are surveys which are undertaken to provide data regarding locations and
elevations and structures which are of concern to engineers, architects and builders.
Example of such surveys is highways, dam, reservoir, buildings, roads, bridges and etc.
a. Construction Survey c. Hydrographic Survey
b. Topographic Survey d. Photogrammetry Survey
120. The owner must file a sworn declaration of value of the property once every three
(3) years, during the period from –
a. Jan 1 to June 30 and every 3 years thereafter
b. Mar 1 to June 30 and every 3 years thereafter
c. Jun 1 to June 30 and every 3 years thereafter
d. Jan 31 to June 30 and every 3 years thereafter

121. The Assessor may file a declaration of value if the owner –

a. Forget or cannot make such declaration within the prescribed time as required
b. Is sick or fatally ill to make such declaration within the prescribed time as required
c. Refuses or fails to make such declaration within the prescribed time as
required
d. Refuses or incapacitated to make such declaration within the prescribed time

122. All assessments and re-assessments made after January 1 of any year shall take
effect on
a. January 1 of the next year c. January 1 of any same year
b. January 31 of the same year d. January 31 of the following year

123. Valuation of Assessor may be appealed to the Local Board of Assessment Appeals
within 60 days counted from receipt of the notice of assessment. Decisions of Local Board
of Assessment Appeals- may be appealed to the Central Board of Assessment Appeals,
within –
a. 30 days from receipt of the decision c. 60 days from receipt of the decision
b. 90 days from receipt of the decision d. 120 days from receipt of the decision

124. Which of the following rules in the appraisal of urban lands for taxation purpose is
not true?
a. Stripping method and standard depth – applies only to residential lots
b. Stripping method shall not be applied on commercial and industrial properties
c. Stripping method shall not apply to corner lots
d. Stripping method shall apply to commercial lots

125. Under the Philippine Valuation Standards, Guidance Notes 15 (GN15) pertains
to Valuation of Historic Properties and GN9 pertains to –
a. Valuation of Intangible Assets
b. Valuation of Agricultural Properties
c. Discounted Cash Flow (DCF) Analysis for Market Valuations and
Investment Analysis
d. Business Valuation

126. Under the Philippine Valuation Standards, Guidance Notes 13 (GN13) pertains to
Mass Appraisal for Property Taxation and GN5 pertains to –
a. Valuation of Intangible Assets
b. Valuation of Agricultural Properties
c. Consideration of Hazardous and Toxic Substances in Valuation
d. Valuation of Personal Property

127. In the PVS, Guidance Note No. 6 (GN6) refers to Business Valuation, Guidance
Note No. 11 (GN11) refers to –
a. Valuation of Agricultural Properties c. Valuation of Agricultural Properties
b. Reviewing Valuations d. Discounted Cash Flow Analysis for
128. In the PVS, Guidance Note No. 8 (GN8) refers to Cost Approach for
Financial Reporting, Guidance Note No. 10 (GN10) refers to –
a. Valuation of Agricultural Properties c. Valuation of Agricultural Properties
b. Reviewing Valuations d. Discounted Cash Flow Analysis for

129. In the PVS, Guidance Note No. 12 (GN12) refers to Valuations of Trade
Related Property, GN 14 refers to –
a. Valuation of Trade Related Property
b. Valuation of Prop. In the Extractive Industries
c. Mass Appraisal for Property Taxation
d. Valuation of Historic Property

130. In the PVS, Guidance Note No. 5 refers to Valuation of Personal Property, GN7
refers to –
a. Valuation of Personal Property
b. Cost Approach for Financial Reporting
c. Business Valuation
d. Consideration of Hazardous and Toxic Substance in Valuation

131. In the PVS Guidance Note No. 9 refers to –

a. Valuation of Agricultural Properties
b. Valuation of Agricultural Properties
c. Reviewing Valuations
d. Discounted Cash Flow Analysis for Market Valuations & Investment Analyses

132. The only region in the Philippines that has separate local government.
a. NCR c. CAR
b. Soccksargen d. ARMM

133. The largest lake in Philippine archipelago is Laguna de Bay in the Province of
Laguna and Rizal, the smallest lake that is in Agusan province is –
a. Lake lanao c. Naujan Lake
b. Taal Lake d. Lake Lumao

134. Manila, Jaro, Vigan and Nueva Caceres were chartered cities during the Spanish
time. One of these chartered cities is now called Naga City, which is –
a. Manila c. Vigan
b. Jaro d. Nueva Caceres

135. Since Philippine Independence in 1946 more cities were chartered under U.S
administration. In 1948, this LGU chartered in 1939 became the capital of the Philippines is
–
a. Manila c. Caloocan City
b. Pasay City d. Quezon City

136. Tubbataha Reef – one of the world’s heritage is located where in the Philippines?
a. Cayancillo, Palawan c. China Sea
b. Samal Island, Davao d. West Philippine Sea

137. The total land area of the Philippines is 115,800 square miles. In Square kilometers
 the total land area equivalent is –
a. 250,000 sqkms. c. 330,000 sqkms
b. 300,000 sqkms d. 350,000 sqkms

138. The largest lake in the Philippines is in Luzon, which is also the 3 rd largest fresh
water lake in Southeast Asia.
a. Manila Bay c. Caliraya Lake
b. Laguna de Bay d. Taal Lake

139. Many of our mountains are densely forested. In Northern Luzon the principal
mountain tree, is –
a. Narra c. Mahogany
b. Acacia d. Pine

140. They are the aboriginal inhabitants of our island also called Aetas or Balugas.
They now constitute only a small percentage of the total population.
a. Negritos c. Indonesians
b. Malays d. Tinggues

141. It is the largest lake in Mindanao. It is also the second largest lake in the country.
a. Lake Lanao c. Lake Mainit
b. Lake Buluan d. Lake Sebu

142. Even before the arrival of Spaniards, Philippines has already its own
settlement pattern. Filipinos lived in a small independent villages ruled of a petty King Datu
called –
a. Poblaciones c. Sitio
b. Barangay d. Barrio

143. The Philippine constitutional framework was governed under three constitutions on
the three following period except
a. 1935 Constitution c.1987 Constitution
b. 1973 Constitution d. 1992 Constitution

144. Korean Novel’s ranked 1st in the evening show is a statement showing cultural
diffusion and is in the following theme of study in human and physical geography.
a. Place c. Location
b. Region d. Movement

145. The composite interest rate that represents the anticipated income of the
investments made and the return which represents recovery of the investments -
a. Capitalization Rate c. Nominal Rate
b. Recapture Rate d. Over-all Rate of Return

146. It is a factor derived from comparable properties and applied to expected rental
income to estimate a value –
a. Gross Income Multiplier c. Appraised Value
b. Gross Income Tax d. Gross Income

147. It is the process of determining monetary values of the property rights

encompassed in an ownership at some specific time/period –
 a. Appraisal c. Value in Use
b. Valuation d. Value in Exchange

148. Refers to surveying lakes, streams, reservoir and other bodies of water. It is a general
importance in connection with navigation and the development of water resources for flood
control, power, irrigation, and reaction, bottom areas of bodies and to measure the flow of
streams and rivers.
a. Construction Survey c. Hydrographic Survey
b. Topographic Survey d. Photogrammetry Survey

149. Type of survey in which photographs are used to determine the configuration of
land and determine man-made and natural features.
a. Construction Survey c. Hydrographic Survey
b. Topographic Survey d. Photogrammetry Survey

150. It is a survey which is necessary to fix boundaries of mining claims, to establish

the position of all underground excavation and surface structure of mines.
a. Mining Survey c. Hydrographic Survey
b. Topographic Survey d. Photogrammetry Survey

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