Episode 074 - Exam Questions 28 Going through state exam questions to help real estate students pass their state exam.   01:20 – Never a bad time to get into the real estate industry. 03:45 – One year anniversary of the A-Ha! Podcast. Thank you!! 06:10 – Email from Lauren. Email brian@ahareep.com for the PSI exam outline. 08:55 – Messenger message: what can a student do if they don’t pass the exam in time and have to retake the real estate class? 14:50 – Difference between net and gross leases. 18:05 – What is the right of first refusal? Is the seller required to sell their property? 20:00 – Calculating closing costs and how it works with down payment, appraised value, and discount points. The lender bases their lending criteria on the lower of the purchase price or appraised value. 22:37 – Cost of discount points: $325,000 purchase price, $340,000 appraised value, 20% down payment, and 1.5 discount points paid. $325,000 x 80% = $260,000 x 1.5% = $3,900. 27:22 – What should an agent do if they notice the water heater is not operable? 31:18 – What rule is broken when a lender changes the loan terms at the closing table and pressures the borrower to sign the loan documents? Equal Credit Opportunity Act (ECOA), TRID, and RESPA. 37:00 – How to remember blockbusting, steering, and redlining. Blockbusting: busting up (breaking up) the neighborhood; Steering: steering (guiding) clients to or away from certain areas based upon protected class; Redling: illegal lending practice where lenders draw a “red line” around areas they do not want to lend in based upon a protected class   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A