What is the exam-ready answer?
| Roadmap lesson | 79 of 500 |
|---|---|
| Official syllabus topic | Federal Lending Laws: TILA, RESPA, ECOA, and TRID |
| Official PSI area | Financing |
| Published area weight | 10% of the 100-question national portion |
| Exam portion | National salesperson portion |
| Source edition | PSI Georgia Candidate Information Bulletin dated July 1, 2026 |
| Last verified | August 2, 2026 |
The Rule
PSI publishes the weight for the complete content area, not a fixed question count for this lesson. Learn the rule well enough to apply it when PSI changes names, numbers, or parties in a new scenario.
Complete lesson
Read each concept as part of one decision system. The exam often gives one accurate statement and three statements that belong to a nearby concept.
TILA and Regulation Z
Covered creditors disclose the cost and terms of consumer credit, including finance charge and annual percentage rate, and follow rules for advertising, rescission where applicable, servicing, and mortgage practices.
RESPA and Regulation X
RESPA addresses real estate settlement services, disclosures, servicing, escrow, and affiliated arrangements. Section 8 prohibits giving or accepting a thing of value for referrals under an agreement or understanding involving covered settlement-service business.
ECOA and Regulation B
Creditors may not discriminate in a credit transaction on prohibited bases such as race, color, religion, national origin, sex, marital status, age when capable of contracting, public-assistance income, or good-faith exercise of consumer-credit rights.
TRID and disclosures
For covered transactions, consumers generally receive a Loan Estimate after application and a Closing Disclosure before consummation under timing and tolerance rules. Not every loan is covered.
Decision rule
Georgia-specific distinction
Worked example
Scenario. A settlement provider pays a real estate licensee $150 for every buyer referred, with no actual service performed.
Reason it through. The payment is tied to settlement-service referrals rather than compensable work, which is the core RESPA Section 8 concern.
Answer. The arrangement is prohibited when the transaction and services fall within RESPA.
Common exam traps
- Calling APR the note rate
- Assuming every referral payment is lawful marketing
- Applying ECOA only after denial
- Assuming TRID covers every loan
Original practice questions with detailed explanations
These questions were written for instruction and mapped to the current outline. They are not copied from PSI or any live examination. Choose an answer before opening the explanation.
Question 1Which law most directly addresses settlement-service kickbacks?
- A. RESPA
- B. ECOA
- C. ADA
- D. Sherman Act
Show answer and explanation →
Answer: A. RESPA
RESPA Section 8 prohibits covered referral kickbacks and unearned fee splits.
Question 2Which regulation implements ECOA?
- A. Regulation B
- B. Regulation X
- C. Regulation Z
- D. Regulation V only
Show answer and explanation →
Answer: A. Regulation B
ECOA is implemented by Regulation B.
Question 3Which disclosure is intended to show estimated terms and costs after a covered mortgage application?
- A. Loan Estimate
- B. Deed
- C. Appraisal license
- D. Plat
Show answer and explanation →
Answer: A. Loan Estimate
TRID uses the Loan Estimate early in the covered mortgage process.
Mastery tracking
Mark this lesson mastered only when every statement is true.
- State the direct answer and decision rule without notes.
- Explain every core concept in plain English.
- Solve the worked example after changing one important fact.
- Identify the Georgia distinction before reading answer choices.
- Answer all three questions correctly and reject every distractor.
- Repeat the topic in mixed practice on a later day.
Recommended next lesson
Continue with Contract formation. Lesson 80 connects offer, acceptance, consideration, capacity, legality, and writing requirements.
Return to the Financing hub to see every official branch and the complete lesson sequence for this content area.