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In the Hero Lab application, it appears that it applies the Favored Class bonus immediately at 1st Level. Is that correct for core rules? I thought that the bonus only applies on new levels.
The core rules seem ambiguous about the cost of cold-iron weapons. I know that the weapon costs double the price. But, does it have to be Masterwork as well. The rules don't seem clear there (but Hero Lab assumes Masterwork is necessary). In fact, during society play, everyone at the table seemed to think that Masterwork was only necessary if making the item magical.

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Prethen wrote:
Nefreet wrote:Yes, but are you "taking" a level when you start a 1st level character? Hero Lab says Yes and so does at least one previous response.What is confusing about Favored Class Bonuses?
You pick a class and apply the bonus whenever you take a level in that class.
What leads you to believe otherwise?