What is the exam-ready answer?
| Roadmap lesson | 166 of 500 |
|---|---|
| Official syllabus topic | Finance and Closing: Finance; Closing Procedures |
| Official PSI group | Finance and Closing |
| Published group count | 15 of the 52 Georgia questions |
| Exam portion | Georgia salesperson supplement |
| Source edition | PSI Georgia Candidate Information Bulletin dated July 1, 2026 |
| Law checked through | August 2, 2026 |
| Last verified | August 2, 2026 |
The Rule
PSI publishes 16, 21, and 15 items for the three Georgia groups. It does not publish a guaranteed subtopic count. The statute, current GREC rule, contract, or other cited primary authority controls each lesson.
Complete lesson
Read these concepts as one Georgia decision system. A plausible national rule can still be the wrong answer when the stem supplies a Georgia statute, instrument, role, or procedure.
Lender conditions
Closing does not cure missing underwriting conditions. The lender controls loan approval and funding authorization.
Payoffs
Payoff statements identify the amount and deadline needed to release existing liens. Expired or unverified figures can leave title problems.
Good funds
A deposit confirmation is not always final collected money. The closing lawyer follows governing law, bank status, lender instructions, and professional duties before disbursement.
Wire safety
Unexpected email instructions or changed account details should be treated as a stop signal. Verify by calling a known number, not one supplied in the suspicious message.
Decision rule
Georgia rule and national contrast
Worked Georgia example
Scenario. Hours before closing, a buyer receives an email that appears to come from the attorney and changes the destination account.
Reason it through. Last-minute changes are a classic business-email-compromise signal. Replying to the same email does not independently verify it.
Answer. Pause the wire and call the closing firm using a previously verified number before sending funds.
Common exam traps
- Trusting an email display name
- Calling the number in the changed instructions
- Disbursing before funds clear
- Treating lender approval as recordation
Original practice questions with detailed explanations
These are original instructional questions mapped to the July 1, 2026 PSI outline. They are not copied from PSI or a live examination. Choose an answer before opening the explanation.
Question 1Which statement best states the Georgia rule for Georgia Loan Closing, Good Funds, Payoffs, and Wire-Fraud Prevention?
- A. Last-minute emailed wire changes should be followed immediately.
- B. A broker may independently disburse all closing funds once the loan is approved.
- C. Verify source, recipient, amount, cleared status, written instruction, attorney control, and recording condition before treating money as available for disbursement.
- D. A screenshot of a transfer always proves final collected funds.
Show answer and explanation →
Answer: C. Verify source, recipient, amount, cleared status, written instruction, attorney control, and recording condition before treating money as available for disbursement.
The correct choice states the controlling rule. The other choices either remove a required element, replace Georgia authority with a generic assumption, or expand an exception beyond the cited source.
Question 2Hours before closing, a buyer receives an email that appears to come from the attorney and changes the destination account.
- A. Ignore the Georgia-specific fact because good intentions control.
- B. Apply the nearest national rule without checking Georgia authority.
- C. Let the participant with the strongest preference decide without following the required process.
- D. Pause the wire and call the closing firm using a previously verified number before sending funds.
Show answer and explanation →
Answer: D. Pause the wire and call the closing firm using a previously verified number before sending funds.
Last-minute changes are a classic business-email-compromise signal. Replying to the same email does not independently verify it. The correct option follows that reasoning. The distractors ignore the controlling Georgia source, substitute intent for procedure, or give decision-making authority to the wrong person.
Question 3When solving Georgia Loan Closing, Good Funds, Payoffs, and Wire-Fraud Prevention, what should a candidate identify first?
- A. Stop when instructions change. Independently verify the person, account, amount, and authority before money moves.
- B. The answer choice that sounds most ethical, without classifying the actor or document.
- C. One familiar deadline, applied to every Georgia transaction regardless of the source.
- D. A national default, even when the stem identifies a Georgia statute or GREC rule.
Show answer and explanation →
Answer: A. Stop when instructions change. Independently verify the person, account, amount, and authority before money moves.
The decision rule identifies the facts that control this topic. The other choices reward tone, a memorized number, or a national default while skipping the Georgia actor, document, authority, or procedure.
Mastery tracking
Mark this Georgia lesson mastered only when every statement is true.
- State the direct answer and decision rule without notes.
- Explain all four concepts and identify the controlling Georgia source.
- Solve the worked example after changing one important fact.
- Reject every listed trap and explain what makes it tempting.
- Answer all three original questions correctly and explain every distractor.
- Repeat this topic in mixed Georgia practice on a later day.
Recommended next lesson
Continue with Georgia Finance and Closing Scenario Workshop. Continue through the roadmap from lesson 166.
Return to the Finance and Closing hub for the complete official branch and every canonical lesson in this Georgia group.