Claim OwnershipReal Estate Exam Prep
Subscribed: 2Played: 21
Subscribe
© Copyright 2026 Ran Chen, EA, CFP®
Description
Real Estate Exam Prep is a daily podcast designed to help future real estate agents pass their licensing exams with clarity and confidence.
Built and operated by OpenExamPrep, this podcast breaks down the real estate exam into focused, easy-to-digest episodes covering both the national portion and state-specific requirements. Each episode targets one key concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions.
Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Real Estate Exam Prep was developed from firsthand experience with how difficult—and often poorly taught—exam material can be. The goal is simple: make exam preparation clearer, more accessible, and more effective using structured explanations and modern learning tools. Whether you’re just starting your real estate exam journey or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time.
Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/
Built and operated by OpenExamPrep, this podcast breaks down the real estate exam into focused, easy-to-digest episodes covering both the national portion and state-specific requirements. Each episode targets one key concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions.
Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Real Estate Exam Prep was developed from firsthand experience with how difficult—and often poorly taught—exam material can be. The goal is simple: make exam preparation clearer, more accessible, and more effective using structured explanations and modern learning tools. Whether you’re just starting your real estate exam journey or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time.
Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/
75 Episodes
Reverse
![Real Estate Exam [National] 74, Deed of Trust vs Mortgage Explained](https://s3.castbox.fm/b4/5d/4a/3d53a04417d42c26e0cb7f7935cd0d9544_scaled_v1_400.jpg "Real Estate Exam [National] 74, Deed of Trust vs Mortgage Explained")
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The fundamental difference between the two-party mortgage and the three-party deed of trust.
• How to correctly identify the trustor, trustee, and beneficiary roles to avoid common exam traps.
• The distinction between judicial foreclosure processes and non-judicial foreclosure via the power of sale clause.
• The difference between naked legal title held by a trustee and equitable title held by the borrower.
• How to recognize the specific closing documents used for each instrument, such as the satisfaction of mortgage versus the deed of reconveyance.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
- The definition of a promissory note as the primary evidence of debt and personal liability.
- How the promissory note operates as a negotiable instrument transferable on the secondary market.
- The distinction between the parties of the note known as the maker and the payee.
- Why the promissory note is typically not recorded in public records unlike the security instrument.
- The role of specific clauses like the acceleration clause in demanding immediate repayment upon default.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The critical distinction between a VA guarantee and FHA insurance.
• Why the zero down payment and one hundred percent loan-to-value ratio is tested.
• How the VA funding fee differs from recurring mortgage insurance premiums.
• The application of the forty-one percent back-end ratio and residual income checks.
• The roles of the Certificate of Eligibility and Certificate of Reasonable Value.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• FHA loans are government-insured, not government-guaranteed or directly funded.
• The minimum down payment is 3.5% for credit scores 580 and above.
• Borrowers must pay both Upfront Mortgage Insurance Premium (UFMIP) and monthly MIP.
• Debt-to-income qualifying ratios are typically 31% for housing and 43% for total debt.
• The FHA escape clause protects a buyer's earnest money if the property fails to appraise for the agreed-upon sales price.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam real estate exam.
In this episode you will learn:
• Conventional loans are private transactions not insured or guaranteed by the government.
• Conforming loans must adhere to Fannie Mae and Freddie Mac underwriting standards.
• Private Mortgage Insurance is mandatory for any loan where the LTV exceeds 80 percent.
• PMI is designed specifically to protect the lender rather than the borrower.
• Lenders use standard debt-to-income ratios of 28 percent and 36 percent for qualification.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The fundamental difference between commingling as the act of mixing funds and conversion as the act of spending them.
• Why commingling is a license violation even if the client's money is never actually spent or lost.
• How to identify conversion in exam scenarios even when a broker has the intention of paying the money back.
• The specific exception regarding nominal broker funds used for trust account bank fees.
• The severe legal and professional consequences including license revocation and criminal charges for embezzlement.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The critical legal difference between commingling and conversion of client funds
• Standard timelines for depositing earnest money and security deposits
• Why brokers are allowed to keep limited personal funds in a trust account
• The necessity of sub-ledgers for maintaining accurate transaction records
• Why the designated broker holds ultimate liability for trust account errors
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• Why commission rates must always be presented as negotiable to avoid price-fixing traps.
• How to identify group boycotting when multiple firms conspire against a competitor.
• The illegal nature of market allocation and dividing territories between brokers.
• How tie-in arrangements restrict consumer choice and violate federal law.
• The specific financial penalties including the one million dollar fine and treble damages.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The specific protected classes unique to ECOA: Age, Marital Status, and Public Assistance.
• How to distinguish between ECOA (lending) and the Fair Housing Act (housing) on exam questions.
• The 30-day timeline requirement for lenders to notify applicants of approval or denial.
• Why the "AMP" mnemonic is essential for remembering credit-specific protections.
• How to identify "adverse action" requirements and the exercise of consumer rights.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The three specific requirements for the single-family home exemption.
• How the Mrs. Murphy exemption applies to owner-occupied properties with four or fewer units.
• Why hiring a real estate licensee immediately nullifies federal fair housing exemptions.
• The role of discriminatory advertising in forfeiting an owner's exempt status.
• The critical rule that race is never an exempt category under any circumstances.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The critical distinction between steering which targets buyers and blockbusting which targets sellers.
• Why a licensee's intent does not matter if their actions result in discriminatory steering.
• How redlining specifically relates to the geographic refusal of loans or insurance by financial institutions.
• The common exam trap involving the motivation behind blockbusting also known as panic selling.
• A simple mnemonic to quickly identify the victim of each illegal fair housing practice during the exam.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The critical distinction between ADA Title I employment rules and Title III public accommodations.
• The exact 15-employee threshold required for Title I compliance often tested in trick questions.
• How the readily achievable standard applies to barrier removal in existing commercial structures.
• Why both landlords and tenants share legal liability for ADA compliance regardless of lease terms.
• Specific exemptions for religious organizations and private clubs under the ADA.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• Why the Civil Rights Act of 1866 allows for absolutely no exemptions in cases of racial discrimination.
• The importance of the Jones v. Alfred H. Mayer Co. (1968) Supreme Court ruling for private property transactions.
• How to distinguish between 1866 Act requirements and Fair Housing Act of 1968 exemptions on the exam.
• The relationship between the Thirteenth Amendment and the prohibition of the badges and incidents of slavery.
• Why racial discrimination complaints under the 1866 Act are filed directly in federal court rather than through HUD.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The timeline and components of the seven federally protected classes including the 1974 and 1988 amendments
• The distinction between race and color and how the Civil Rights Act of 1866 interacts with modern laws
• How to identify familial status protections for pregnant women and families with children under eighteen
• The difference between reasonable accommodations and reasonable modifications for tenants with disabilities
• How to avoid common exam traps involving non-protected classes like age and marital status using the FRESH CORN mnemonic
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• Agency ends automatically upon the death of the principal broker or the client but not the individual salesperson.
• The duty of confidentiality is the only fiduciary duty that survives the termination of the agency relationship forever.
• Unilateral termination like revocation or renunciation can occur but may result in a breach of contract lawsuit.
• Property destruction or bankruptcy terminates an agency relationship immediately through the operation of law.
• Every listing must have a definite expiration date and agency terminates automatically once that date is reached.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
- The legal definition of vicarious liability and the doctrine of respondeat superior.
- Why brokers are held responsible for agent actions despite independent contractor status.
- The conditions under which a client or principal becomes liable for an agent’s misconduct.
- How the concept of imputed notice creates a chain of responsibility in transactions.
- Common exam traps involving broker supervision and liability limitations.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The legal distinction between an agency disclosure form and a representation agreement.
• Identifying the specific triggering event known as substantive contact for mandatory disclosure.
• Procedural steps to take when a consumer refuses to sign a disclosure form.
• How agency disclosure prevents the legal pitfalls of unintended implied agency.
• Using the S O D A mnemonic to master timing and compliance on the exam.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The critical legal distinctions between a client (principal) and a customer (third party).
• How to apply the OLD CAR mnemonic to remember the six fiduciary duties owed to clients.
• The definition of subagency and how it creates a loyalty obligation to the seller even when working with buyers.
• Common exam traps regarding confidentiality and the disclosure of material facts to customers.
• Why all salespersons are technically subagents of their sponsoring broker in the eyes of the law.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• The fundamental differences between a non-agent transaction broker and a fiduciary agent.
• Why transaction brokers are considered neutral facilitators rather than advocates for a specific party.
• The essential duties that remain mandatory for non-agents including honesty and material defect disclosure.
• How to distinguish between providing factual information and offering professional advice on the exam.
• Common pitfalls involving the confusion between transaction brokerage and dual agency.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.
In this episode you will learn:
• How designated agency differs from traditional dual agency in terms of advocacy.
• The specific fiduciary duties preserved for clients in a designated agency setup.
• The role of the supervising broker as a neutral dual agent and supervisor.
• Key exam traps regarding confidentiality and the sharing of information within a firm.
• The legal requirement for informed written consent from both the buyer and seller.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
Comments
Download from Google Play
Download from App Store
United States