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RESA LAW (R.A 9646) EXAM QUESTIONS WITH CORRECT ANSWERS
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RESA LAW (R.A 9646) EXAM QUESTIONSWITH CORRECT ANSWERS
Real Estate Service Act of the Philippines
R. A 9646 is known as?
Real Estate Service Act of the PH (R.A 9646)
An act regulating the practice of real estate service in the PH, creating
for the purpose a Professional Regulatory Board of Real Estate Service,
Appropriating funds therefore and for other purposes.
Professional Regulatory Board of Real Estate Service (PRB-RES)
Who is the BOARD?
Professional Regulation Commission (PRC)
Who is the Commission?
The Implementing Rules and Regulations of Republic Act No. 9646
IRR of R.A No. 9646
Appraiser
known as "valuer'; refers to a person who conducts valuation/appraisal.
Assessors
refers to an official in the local government unit. who performs appraisal
and assessment of real properties (i.e. plants, equipment, machineries)
for taxation purposes.
Real Estate
refers to the land and all those items which are attached to the land.
It's the physical, tangible entity, together with all additions/improvements.
Real Estate Development Project
Development of land for residential, commercial, industrial, agricultural,
institutional or recreational purposes, or any combination of such
including, but not limited to, tourist resorts, reclamation projects, building
or housing projects, whether for individual or condominium ownership,
memorial parks and others of similar nature.
Real Estate Developer
refers to any natural or juridical person engaged in the business of
developing real estate development project for his/her or its own account
and offering them for sale or lease.
Real Property
, includes all the rights, interests, benefits related to the ownership of real
estate.
1. Real Estate Consultant
2. Real Estate Appraiser
3. Real Estate Assessor
4. Real Estate Broker
5. Real Estate Salesperson
6. Accredited and Integrated Professional Organization (AIPO)
7. Interim Accredited Professional Organization (IAPO)
Who are the 6 Real Estate Service Practitioners?
Real Estate Consultant
duly registered & licensed natural person who, for a professional fee,
compensation/other valuable consideration, offers/renders professional
advice & judgment on: (1) Acquisition, enhancement, preservation,
utilization, or disposition of lands/improvements and (2) conception,
planning, mgt. & development of real estate proj.
Real Estate Appraiser
a duly registered and licensed natural person who, for a professional
fee, compensation or other valuable consideration, performs or renders,
or offers to perform services in estimating and arriving at an opinion of or
acts as an expert on real estate values, such services of which shall be
finally rendered by the preparation of the report in acceptable written
form.
Real Estate Assessor
a duly registered and licensed natural person who works in a local
government unit and performs appraisal and assessment of real
properties, including plants, equipment, and machineries, essentially
for taxation purposes.
Real Estate Broker
duly registered & licensed natural person who, for a professional
fee/consideration, commission, acts as an agent of a party in real
estate transaction to offer, advertise, solicit, list, promote, mediate,
negotiate, or effect the meeting of the minds on the sale, purchase,
exchange, mortgage, lease, or joint venture on real estate.
Real Estate Salesperson
a duly accredited natural person who performs service for, and in behalf
of a real estate broker who is registered and licensed by the
Professional Regulatory Board of Real Estate Service for or in
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