Professionalization and Real Estate Practice Quiz
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Questions and Answers

What does real estate include?

  • Only man-made improvements like buildings
  • Land and agricultural produce
  • Only the soil and natural attachments
  • Land and any permanent structures (correct)

    • Which of the following is NOT considered a real estate professional based on the text?

  • Brokers
  • Agricultural producers (correct)
  • Consultants
  • Appraisers

    • What do the red stripes on the Philippine Flag represent?

  • Revolt against Spanish colonization
  • Patriotism and valor (correct)
  • Equality
  • Peace and truth

    • Which of the following best represents structures in the context of real estate?

    <p>Residential, Commercial, Industrial &amp; Institutional Buildings</p> Signup and view all the answers

    What do the eight sun rays on the Philippine Flag symbolize?

    <p>First eight provinces that revolted against Spanish colonization</p> Signup and view all the answers

    Which group of professionals is represented by green lines in the text?

    <p>Consultants, Appraisers, Assessors, Brokers &amp; Salespersons</p> Signup and view all the answers

    What is the primary purpose of the professionalization of real estate practice?

    <p>To protect the interests of the public</p> Signup and view all the answers

    Which of the following is NOT a key role that real property plays in the economy?

    <p>Improving the quality of real estate education</p> Signup and view all the answers

    Which of the following real estate professionals is primarily responsible for rendering professional services related to the valuation of real estate?

    <p>Real Estate Consultant</p> Signup and view all the answers

    Which of the following real estate professionals is primarily responsible for facilitating real estate transactions between buyers and sellers?

    <p>Real Estate Broker</p> Signup and view all the answers

    Which of the following best describes the key role of a Real Estate Salesperson?

    <p>Assisting a Real Estate Broker in carrying out their professional duties</p> Signup and view all the answers

    Which of the following is NOT considered a type of real estate professional as described in the text?

    <p>Real Estate Accountant</p> Signup and view all the answers

    What is the primary role of real estate service practitioners?

    <p>All of the above</p> Signup and view all the answers

    What is the primary goal of the Real Estate Service Act (RESA) of the Philippines?

    <p>All of the above</p> Signup and view all the answers

    What is the significance of the real estate industry in the Philippines?

    <p>All of the above</p> Signup and view all the answers

    Which of the following is NOT a characteristic of the real estate service practitioners aimed by the RESA?

    <p>Unregulated</p> Signup and view all the answers

    What is the primary focus of the RESA in relation to real estate service practitioners?

    <p>Enhancing the professionalization and competitiveness of real estate practitioners</p> Signup and view all the answers

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