DONNA KHRYSS LEGASPI
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REM4(SAT 02:00 PM - 03:00 PM) | EXAM 2ND SEM SY: 2021-2022
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EXAM RESULT
FINAL EXAMINATION
PART I. CHOOSE THE CORRECT ANSWER. PART II. IDENTIFY THE CORRECT ANSWER WRITE IT IN A
PROPER MANNER IN FIGURE FORM, NO NEED TO INCLUDE PESO SIGN.
Time Limit: Duration: Final Score: Answered:
60 minutes 60 minutes 15/30 16/16
Date Taken: Allowed Date:
May 29, 2022 09:23 AM - May 29, 2022 10:23 AM May 28, 2022 02:00 PM - Jun 01, 2022 05:00 PM
1. Under local government code, the appraisal of the fair market value of real property shall be based
on: (1pts.)
TYPE: MULTIPLE CHOICE
A. Current fair market value
B. Declaration of lot owner
C. Independent appraiser’s value
D. Actual use
Your Answer : A
Correct Answer : A
Remarks : checked
2. RA 7160 prescribes that real property shall be assessed on the basis of: (1pts.)
TYPE: MULTIPLE CHOICE
A. current market value
B. Actual use
C. Equitable use
D. Potential use
Your Answer : B
Correct Answer : B
Remarks : checked
3. Mrs. Punongbayan purchase a house and lot from Mrs. Dela Cruz at Php 450,000 as per notarized
deed of sale dated December 2, 2017. The current Market Value of the lot is 100,000 and the
building is at 200,000 and she paid the transfer tax of the real property at the treasury office dated
February 2, 2018. Answer the following. a. What is the total current market value of the whole real
property? b. Is she exempted in paying transfer tax? c. If not, How much is her transfer tax? d. How
much is the total payment she paid in the treasury office? (write it in proper manner in figure form
(4pts.)
no need to put peso sign)
TYPE: ENUMERATION (Sequenced)
(1pts)
Your Answer: Correct Answer:
check 300,000.00 • 300,000 / 300,000.00
close NO • YES / yes / Yes
close 0 • 2,250 / 2,250.00
close 800.00 • 2,925 / 2,925.00
4. Under what classification does a machinery and equipment fall with an assessed value of
P40,000.00 or 50% of it’s market value? (1pts.)
TYPE: MULTIPLE CHOICE
A. Agriculture
B. Commercial
C. Residential
D. Industrial
Your Answer : C
Correct Answer : C
Remarks : checked
5. A tax assessment is intended to accomplish which of the following (1pts.)
TYPE: MULTIPLE CHOICE
A. Set the maximum price paid at a foreclosure sale
B. Establish the asking price of property when listed for sale by the owner
C. Aid the determination of how much property tax is due
D. Determine market value
Your Answer : D
Correct Answer : C
Remarks : close
6. Public sector land valuation and taxation in the Philippines is the domain of two (2) arms of the
government, namely: (1pts.)
TYPE: MULTIPLE CHOICE
A. LGU and BIR
B. DOF and DILG
C. DOF and DBM
D. LGU and Office of the President
Your Answer : B
Correct Answer : A
Remarks : close
7. RA 7160 prescribes that for real property taxation should be based on which of the following: (1pts.)
TYPE: MULTIPLE CHOICE
A. Prevailing Market value of LGU
B. Market value as established by the Assessor
C. Market Value as established by private appraiser
D. Market value approved by Sangguniang concerned
Your Answer : D
Correct Answer : A
Remarks : close
8. A revenue-raising procedure, based on the assessed value of property related to a scale of charges
defined by statute within a specified time-frame. (1pts.)
TYPE: MULTIPLE CHOICE
A. Gross income taxation
B. Ad valorem property taxation
C. Net income taxation
D. Value added taxation
Your Answer : B
Correct Answer : B
Remarks : checked
9. Unpaid real property tax is subject to 2% per month interest, up to a maximum period of: (1pts.)
TYPE: MULTIPLE CHOICE
A. 12 months
B. 24 months
C. Until paid
D. 36 months
Your Answer : D
Correct Answer : D
Remarks : checked
10. Mr. San Juan has an agricultural land with an area of 3 hectares located in San Francisco, Agusan
del Sur. Base on the scheduled market value of the assessor’s office the land is valued at 93,050
per hectare. His land has a total of 400 coconut trees 250 of it are fruit bearing and 150 are not yet
bearing. There were also 50 fruit bearing mango trees and 10 non-bearing durian trees present in
his property. The following are the value of plant improvements per tree = Coconut 780; Durian
2,590; Mango 3,960 Property tax rate = 1% Special Educational Fund (SEF) = 1% a. What is the total
market value of the whole real property? b. What is the total market value for plant improvements?
c. What is the assessment level to be use base on RA 7160? d. What is the total assessed value for
the whole real property? e. What is the realty tax due? (write your answer in a proper manner in
figure no need to include peso sign) (5pts.)
TYPE: ENUMERATION (Sequenced)
Your Answer:(0pts) Correct Answer:
close 815,050.00 • 672,150 / 672,150.00
close 535,900.00 • 393,000 / 393,000.00
close 35% • 40%
close 299,225.00 • 268,860 / 268,860.00
close 5984.50 • 5,377.20
11. Your client Ricky has a property in a residential area that is actually being used as a beauty salon.
The tax declarations of the lot and the structure indicate the following data. Lot area = 275 sq.m.
Market Value of the land = P4,525 per sq.m. Market Value of the structure = P2,400,000.00
Assessment level : Residential = 10% : Commercial = 25% Property tax rate = 1.5% Special
Educational Fund (SEF) = 1% of the assessed value a. What is the total market value of the whole
real property? b. What is the total combined assessed value of the land and the improvement? c.
What is the realty tax due? (Write your answer in a proper manner no need to put peso sign) (3pts.)
TYPE: ENUMERATION (Sequenced)
(0pts)
Your Answer: Correct Answer:
close 3,644,375.00 • 3,644,380 / 3,644,380.00
close 911,093.75 • 1,991,100 / 1,991,100.00
close 22,777.34 • 49,777.50 / 49,778
12. Refers to an official in the local government unit who performs appraisal and assessment of real
properties, including plants, equipment, and machineries, essentially for taxation purposes. (1pts.)
TYPE: MULTIPLE CHOICE
A. Appraiser
B. Consultant
C. Assessor
D. Engineer
Your Answer : C
Correct Answer : C
Remarks : checked
(1pts.)
13. The payment of real property tax without interest may be paid how many installments?
TYPE: MULTIPLE CHOICE
A. one
B. twelve
C. two
D. four
Your Answer : D
Correct Answer : D
Remarks : checked
14. In case the province imposes idle land tax, it can only levy annual tax on idle lands at the rate not
exceeding: (1pts.)
TYPE: MULTIPLE CHOICE
A. One per cent of the assessed value
B. Two per cent of the assessed value
C. Five per cent of the assessed value
D. Three per cent of the assessed value
Your Answer : C
Correct Answer : C
Remarks : checked
15. This law provides that all real property, whether taxable or exempt shall be appraised at the current
and fair market value prevailing in the locality where the property is situated. (1pts.)
TYPE: MULTIPLE CHOICE
A. Real Estate Service Act
B. Real Property Tax Code
C. National Revenue Code
D. Philippine Valuation Standards
Your Answer : B
Correct Answer : B
Remarks : checked
16. Masagana Multi-Purpose Cooperative is a newly formed cooperative but because of the assertive
effort of members they initially owned 400 square meter commercial land where there building is
now erected. The assessors value of the land is at 900/sq.m. and its building is valued at 650,000.
Property tax rate is 1% and SEF is 1%. a. What is the total market value of the whole real property?
b. What is the assessment level to be used for the land base on RA 7160? c. What is the
assessment level to be used for the improvement base on RA 7160? d. What is the total combined
assessed value of the land and the improvement? e. What is the realty tax due? f. How much is the
RPT payable of Multi-Purpose Cooperative? (write in proper manner in figure form no need to write
peso sign) (6pts.)
TYPE: ENUMERATION (Sequenced)
(5pts)
Your Answer: Correct Answer:
check 1,010,000.00 • 1,010,000 / 1,010,000.00
check 50% • 50%
check 40% • 40%
close 440,000.00 • 440,000 / 440,000,00
check 8,800.00 • 8,800 / 8,800.00
check 0 • 0 / Exempted
