California Real Estate Practice Exam

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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!

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Is a property that sold at full asking price after only two weeks on the market a good comparable sale for a house that is 10% below the asking price after three months?

Yes, because it sold quickly
No, because it likely sold below market value
Yes, because it sold at full asking price
No, because it is not in the same location

The correct answer is: No, because it likely sold below market value

A property that sold at full asking price after only two weeks on the market may not be a good comparable sale for a house that sold for 10% below asking price after three months. This is because the quick sale of the first property may indicate a high demand for that specific property or a booming real estate market, which could lead to a higher sale price. On the other hand, the second property may have taken longer to sell and may have a lower sale price due to less demand or a slower market. Therefore, it is not advisable to use such a drastically different property as a comparable sale.