PRC Officially announces First Real Estate Board Exams in 2011

          Philippine Regulatory Commission (PRC) has officially released the 2011 Schedule of Licensure Examination with Real Estate Service Brokers and Real Estate Appraisers and Consultants on March 27 and May 23, respectively.
           Exam results are expected no later than April 06 for the brokers and June 02 for appraisers and consultants. Deadline for filing of applications shall be 20 days prior to the exam schedule --- March 07 for brokers and May 09 for appraisers and consultants.
          Under RA 9646 or the Real Estate Service Act of 2009, every applicant seeking to be registered and licensed as a real estate service practitioner, except a real estate salesperson, shall undergo an examination to be given by the PRC through PRB-RES. PRC’s Real Estate Board, the Professional Regulatory Board for Real Estate Service (PRB-RES), has scheduled Sunday Board Exams for the three professions of Brokers, Appraisers and Consultants.



          PRB-RES Chair Eduardo Gutierrez Ong’s board has arranged the broker’s licensure exam to be conducted simultaneously in Manila, Baguio City, Cagayan de Oro, Cebu, Iloilo and Davao. The appraiser’s and consultant’s on the other hand shall be held 2 months after in Manila and Cebu only.The 5-man PRB-RES shall be transformed as the first ever PRC Examiners for real estate board exams. Chair EG Ong and Board Members Ramon CF Cuervo III, Bansan Choa, Florencio Dino, and Rafael “Paeng” Fajardo have been officially required to submit each a questionnaire with a minimum of 500 questions. From the collected 2,500 questions, PRC is expected to draw a minimum 400 test questions for the day-long exams.

          The board shall be quarantined during the submission until PRC draws randomly and electronically the final board questionnaire under tight supervision of the National Bureau of Investigation.RA 9646 has identified the following 32 mandatory subjects that will be covered by the examinations. Test questions for real estate service brokers’ shall come from Fundamentals of Property Ownership; Code of Ethics and Responsibilities; Legal Requirements for Real Estate Service Practice; Real Estate Brokerage Practice; Subdivision Development; Condominium Concept and other types of real estate holdings; Real Estate Finance and Economics; Basic Principles of Ecology; Urban and Rural Land Use; Planning, Development and Zoning; Legal Aspect of Sale, Mortgage and Lease;  Documentation and Registration; and, Real Property Laws and Taxation. For appraisers, the exam shall revolve around Fundamentals of Real Estate Principles and Practices; Standards and Ethics; Theories and Principles in Appraisal; Human and Physical Geography; Methodology of Appraisal Approaches; Valuation Procedures and Research; Appraisal of Machinery and Equipment; Practical Appraisal Mathematics; Appraisal Report Writing; Real Estate Finance and Economics; Case Studies; and, Land Management System and Real Property Laws.For consultants, the licensing questions shall refer to Fundamentals of Real Estate Consulting; Standards and Ethics; Consulting Tools and Techniques, which include Project Feasibility Study and Investment Measurement Tools; Real Estate Finance and Economics; Real estate Consulting and Investment Analyses; Consulting for Specific Engagement, which includes Consulting for Commercial, Industrial, Recreation and Resort and Hotel Properties, and Consulting for Government and Corporate and Financial Institutions; and, Land Management System and Real Property Laws.
          PRB – RES is putting a general emphasis on Ethics in all three professional exams. To conform to technological and modern developments, the Board may however re-cluster, rearrange, modify, add to, or exclude any of the foregoing subjects as may be necessary.To protect the sanctity of the licensure exams, PRB-RES Chair EG Ong has expressed in a recent interview that his board may no longer be available for any real estate speaking engagements and invitations starting January and until the last date of exam.The Board is expected to discuss the Exam’s Table of Specifications and release the accreditation guidelines for review service providers anytime soon to pave way for the required 120-credit-unit trainings.

From ra9646.com by rem ramirez

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