Episode Details

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. In this episode you will learn: - How to calculate acreage from a Government Survey System legal description by starting with 640 acres and dividing by the fractional parts. - The critical difference between the loan amount and the sale price when calculating the cost of discount points. - The correct application of Florida's specific documentary stamp tax rates on the deed ($0.70 per $100) and the note ($0.35 per $100), plus the intangible tax on new mortgages. - The IRV formula (Income = Rate x Value) is essential for solving all capitalization problems by isolating the variable you need to find. - How to properly calculate prorations for property taxes paid in arrears using the 365-day method, with the seller typically responsible for the day of closing. 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