HECM Test Exam Questions And Revised Correct Answers

HECM Test Exam Questions And Revised Correct Answers A Counseling Agency's failure to follow all basic requirements required by HUD could result in which of the following: A. Termination of agency's HUD approval B. Suspension of agency's HUD approval C. Forfeiture of remaining federal grant funds D. Fines and or imprisonment E. a , b , and c F. all of the above - ANSWER : E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining federal grant funds T/F A counseling agency must offer and provide face-to-face counseling to clients that prefer this format whenever possible. - ANSWER : True All of the below statements are requirements that each agency must follow EXCEPT: A .In cases where an agency does not offer unique services requested by the client, the agency must refer the client to another participating agency, preferably in the client's area. B. An agency must maintain a national license and a separate license for each state in which services are provided. C. An agency must make reasonable efforts to provide language assistance to persons who are Limited English Proficiency (LEP). D. An agency must notify HUD and provide a copy of the updated Work Plan prior to implementation of any changes to the agency's Work Plan - ANSWER : B T/F Reverse Mortgage counselors must discuss an action plan during each counseling session. - ANSWER : False All of the following are true of the client's required "follow up" EXCEPT: A. The follow-up must be completed by a Certified HECM Counselor B. verbal attempts must be made to contact the client for followup C. A written letter to the client must request the client contact the agency within 30 days of the date of the letter. D. Issuing surveys to assess housing outcomes does not fully meet the requirement for the client follow-up and hiring a third party agency to conduct the follow up is not prohibited. - ANSWER : D.