California Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If similar properties have increased by 5% in price since six months ago, and a comparable property sold for $250,000 then, what value would a broker likely put on a similar house now?

$250,000
$262,500
$275,000
$300,000

The correct answer is: $262,500

A broker would likely put a value on the similar house at approximately $262,500. This is because the comparable property sold for $250,000 six months ago, and similar properties have increased in value by 5% since then. Option A is incorrect because it does not take into account the increase in property values. Option C is incorrect because it is too high of a value, as the 5% increase would only add an additional $12,500 to the original sale price. Option D is also incorrect because it is significantly higher than both the original sale price and the 5% increase. Overall, option B is the most logical and accurate estimate for the current value of the similar house.