There are certain things one should note, that are common within the world of HT. These are noted below.
For generall references of chinese novels, mythology and the world of cultivation, please refere to following external Site (purley optional, for deepening the understanding):
Wuxia / Yianxia / Xuanhuan Terms
Misc Terms
Chinese Bestiary
Terms of Address
Feel free to browse through all articles of "Immortal Mountain"

Spiritual Objects

If crafted with spiritual materials or inlaid with spiritual rune or refined with spirtual arts - Ki Arts - every object can be a spirtual object. Usually spiritual objects have special effects or abilities. They can also be bound to a user by a contract. Using spiritual objects usually is only possible if one is the owner (if it has an aknowledged owner) and infuses it with spiritual energy - Ki, to use it. Ownership can only be severed in one of 4 situations.
One: The owner severes the bond/ cancels the contract
Two: The owner dies or the object gets destroyed
Three: Someone more powerful eradicates the bond/contract from the object
Four: The object gains spiritual sense and is/becomes higher ranked than the owner, it may chose to force a contract cancelation.
Yes. Spiritual objects, over several thousand years may attain their own spiritual sense, their own conscious and will. Like everyone at first their minds would be like infants, slowly growing, maturing and gaining wisdom. Usually potential contractors would wipe the spiritual sense of the object (they need to be higher ranked thant he object), in order to easy contracting and using - without resistence.

Jade

Jade is the one material most associated with cultivation. All magic items are usual stored and preserved within jade containers or made out of jade. There are all kinds of different jade, sorted by color their qualities differ.

Jade Drive

Imagine a Memory stick. Infusing a little bit of Ki into a jade drive, allows one to store and read information. While one does not need hands to do so one may only store what one could write traditionally. For example, you won't be able to store a photorealistic portrait of someone, if you are only able to draw stick figures.
The amount that can be stored differs depending on the quality of the jade. Drives are small, squarish long jades, about the size of a modern days power-bank. The smallest capacity manages to store at least 5000 pages worth of information.

Jade Plate

Similarly to drives, Jade plade store information. They may store less information, about 500 pages worth only, but they may display information on their surface. They are comparable to modern days tablets in size. The special thing about them is, they can be linked. For example if one enters a name of Plate A, plate B will show it on the list.

Jade Coin

These are the smallest form of information storages in the size of a button. Only minimal amount can be stored on it. They can be linked to certain infrastructures and mostly function as some kind of key badge. Similar to modern days badge used as keys and timestamps.
For example restricted areas protected by barriers may be entered if the permissions are sufficient, sealed objects can be unsealed, etc.
So usually a persons profile data is saved on it and serves as an Identification Object at the same time.

Bag of Holding

These are little bags, in the size of an adult mans hand, usually put on a belt to store valuables. The smallest an most common bags may store have storage capacity of 25m³. Like Jade Drives, Plates and Coins, the bags are used by infusing them with Ki, conveying the users intention.
The bag will never weight more than a pound, no matter what is stored inside.

Transportation Talisman

These consumable items made out of jade. A small thin jade plate imbued with a special Ki formation. It let's the one who shatters it be transported a certain distance their are facing. The destination is mostly random and can only slightly be guided with Ki. Keep in mind that this is not Teleportation. One travels through a tunnel of spatial force and may be accompanied by who ever the were touching when entering. Due to comparatively "short" distance (especially compared to Transportation Circles), the travel-time mostly isn't more than 10 minutes. Depending on the grade of the Talisman, the maximum distance that may be travel varies. Note: There may be barriers preventing any kind of Transportation Magic. All of Astera is enveloped by such a barrier, thus one can only travel by traditional means within.

Transportation Circle

They kind of function like an airport. Certain facilities operate bigger and smaller magic circles which connect to other locations in greater distance. Depending on the size smaller or larger groups can be transported at one, but usually one has to wait until the circle is full, for it to depart. So if there are not enough people, the transportation could be canceled or delayed. Like the Talisman the Circle is not teleportation but uses spatial tunnels to travel. Circles are large protected barriers, so it is the fastest and safest way to travel any distance, but is mostly used for long distances only.
Note: Due to the barrier of Astera, no-one is able to transport within the barrier, there are eigh smaller Circles outside Astera in the eight directions, each connecting to the 3 countries in the same direction.

An Immortal's Body

While cultivation itself could count as a benefit, there are even more commonly known benefits all cultivators reaching the Immortal-Rank gain. Of course there are also disadvantages.

One One: With every major break through, and especially after a breakthrough associated causes the body to detoxify and reconstruct from within. This causes the body to get fitter, healthier - the skin gets smoother and the hair grows longer visible to the naked eye.
One Two: All 5 senses enhance each time one dimensionally. Meaning for example. One can hear things from further apart, or whispers without problem, it does not mean one can hear different frequencies and suddenly hear the call of bats. One would clearly be able to make out details way in the distance, but one would not suddenly gain night vision. And since "feeling" would also automatically enhance, so would the feeling of pain. So this part is considered burdensome, as they would be endure way more injuries physically, it it could gradually burden their mental state due to pain (similar to the thoughts of if you "kill" "Immortal" people, how they can still feel all the things, but just won't die, over and over again).
One Three: Due to the healthy body, cultivators do not contract mortal sicknesses of any kind, they won't catch colds or anything. Of course they would also get sturdier and could survive wounds mortals won't. One Four: Of course cultivators would be vulnerable to their own versions of sicknesses a mortal wouldn't even know about. The most notable would be "Ki deviation". This can be caused by psychological or spiritual issues. Usually it shows in the form of the Ki within the body going berserk and usually the mind would follow. Cultivators falling into deviation usually cause destroying their body and soul in the process, until there is nothing left and cannot ever reenter the cycle of rebirth. The earlier one is saved from the deviation state, the less damage would be done to oneself, thought it is not easy to help anyone, once fallen.

Two: Eating Mortal (normal) food causes impurities, so people would eat less proportionally to how their cultivation rises to the point of not eating anything (from the mortal realm) at all. If there is some kind of feast or banquets, food is only prepared and eaten as a formality and everything is made from magical beasts and plants.

Proper Addressing and Hierarchy

Since this is based on Chinese Stuff, we will also be adapting their hierarchy (in a simplified manner).
First, there are a few definitions to be made:

Main Family: A group of people with close blood relations or direct relations through marriage or official adoption. All of them share the same family name.
Clan: A larger group of people compromised of a Main family and branch families which are extended relatives that can go as far s to almost no blood relation to any of the main family at all The key is, that there is always some kind of blood relation through twists and turns and exceptions are those that marry into the family or are officially adopted. All of them will have the same last name.
Sect: Usually a larger group of people. At the core most of the time is a clan. It is a closed of group that requires utmost loyalty and devotion. Hierarchy-wise the main family is on top, followed by other clan members and only after that do all the other people rank.
Guild: A group of people that form a community mostly based on some kind of business or alliance. It is not as strict as a clan and it is easier to leave a guild in one piece and not becoming a wanted traitor. (Examples: Merchant Guild, Researcher Guild, etc.)

All of these groups adapt a familial hierarchy. While the school is neither a sect or a guild, but it's own type of group, it also adapts the same hierarchy. A lot of times the age is in line with seniority, but sometimes an older person enrolls later, so he would be lower in seniority. In this case the seniority of actual age is disregarded. For simplicity I will only refer to age, but when stating "younger" or "older" it could also mean first or second in seniority due to hierarchy.
Younger schoolmates = Junior Brother/Sister
Older schoolmates = Senior Brother/Sister
Within the closer circle people will also be referred to in numbers.
Student 3 of Master A would call Student 1 of Master B "Senior Brother". But Student 3 of Master B would call him either "Eldest Senior Brother" or "First senior Brother". Meanwhile Student 2 would be called "Second Senior Brother". Student 1 and 2 would call Student 3 either "Third junior Brother" or "Youngest junior Brother" if he is the youngest.
Masters refere to the others as brothers and sisters as well, so this makes them uncles and aunts to the students of other masters, while calling their own simply Master.
The leader of each faction or higher ranked, so this makes them "Senior Master" or "Senior Uncle/Aunt" respectively.
The school founder will always be referred to as "Grand Master" or "Founder".
Generally the Masters and Students under the same Master will be regarded and referred to as ones family.