I am currently in the process of finishing the first semester of my sophomore year and I am currently taking Pre-AP Spanish 3. I plan to take AP Spanish 4 next year. I am fluent in Chinese as well. Should I take the Chinese language CBE as well and would it be beneficial/look good on applications?
You mean an SAT subject test or AP test in Chinese? Feel free to do so, but if you apply to colleges that want SAT subject tests, make sure that it is an additional one beyond the ones required or recommended, since some do not want a native or heritage language to be one of the required or recommended ones.
I.e. if the college wants two SAT subject tests, your SAT subject test in Chinese should be the third one.
It’s a test that can give you college credit for a foreign language.
If you mean “Credit By Exam”, the tests may be specific to the specific college, so it may not necessarily be accepted by other colleges.
Also, if you just want advanced placement in the language so that you can take more advanced courses (e.g. Chinese literature in Chinese or some such), then most colleges have their own placement procedures for foreign languages so that you do not have to take lower level language courses if you already know the language.