Comparative Market
Analysis (CMA)
Practice Exam
2026/2027 VERSION
WITH QUALITY
QUESTIONS AND
VERIFIED ANSWERS
100% CORRECT WITH
,RATIONALES AND PDF
DOWNLOAD.
1. What is the primary purpose of a
Comparative Market Analysis (CMA)?
A. Determine property taxes
B. Establish listing or offering price
C. Appraise replacement cost
D. Calculate mortgage payments
Answer: B
Rationale: A CMA is used by agents to
estimate a competitive market price for
listing or offering a property.
,2. A CMA relies most heavily on:
A. Replacement cost data
B. Historical tax records
C. Recent comparable sales
D. Zoning regulations
Answer: C
Rationale: CMA values are based
primarily on recent comparable property
sales.
3. Which is NOT typically included in a
CMA?
A. Comparable sales
B. Active listings
C. Pending sales
, D. Legal title history
Answer: D
Rationale: Title history is not part of CMA
analysis; it is a legal document review.
4. A “comparable property” is one that:
A. Has identical ownership
B. Is similar in size, location, and features
C. Has the same tax assessment
D. Was built in the same year only
Answer: B
Rationale: Comps must be similar in key
physical and locational characteristics.
Analysis (CMA)
Practice Exam
2026/2027 VERSION
WITH QUALITY
QUESTIONS AND
VERIFIED ANSWERS
100% CORRECT WITH
,RATIONALES AND PDF
DOWNLOAD.
1. What is the primary purpose of a
Comparative Market Analysis (CMA)?
A. Determine property taxes
B. Establish listing or offering price
C. Appraise replacement cost
D. Calculate mortgage payments
Answer: B
Rationale: A CMA is used by agents to
estimate a competitive market price for
listing or offering a property.
,2. A CMA relies most heavily on:
A. Replacement cost data
B. Historical tax records
C. Recent comparable sales
D. Zoning regulations
Answer: C
Rationale: CMA values are based
primarily on recent comparable property
sales.
3. Which is NOT typically included in a
CMA?
A. Comparable sales
B. Active listings
C. Pending sales
, D. Legal title history
Answer: D
Rationale: Title history is not part of CMA
analysis; it is a legal document review.
4. A “comparable property” is one that:
A. Has identical ownership
B. Is similar in size, location, and features
C. Has the same tax assessment
D. Was built in the same year only
Answer: B
Rationale: Comps must be similar in key
physical and locational characteristics.
