LIHTC Practice Exam.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/LIHTC%20Pract
LIHTC Practice Exam
Questions & Answers
1. The head of Household is age 65. He receives $650 per month is Social Se-
curity benefits. How much of this is included as annual family income?
Answer $7800
2. An adult household member of a LIHTC family receives $400/month from
management for cleaning the laundry rooms at the property. Because this is
considered as a resident service stipend by property's owners, non of it is
included as income for the family for eligibility purposes
Answer False
3. The son of the head of household in a LIHTC family is 45 years old. He is afull
time student. He earns $750/month from his job. How much of this amount is
included as part of annual family income for eligibility purposes?
Answer $480
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,LIHTC Practice Exam.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/LIHTC%20Pract
4. The head of household of the family, who is a full time students, earns
$600/month from her job. The owner of the property must count all of this in-
come as part of the family gross annual income, for eligibility purposes.
Answer True
5. Mrs. Herrington, the spouse of the head of household applying for a LIHTC
unit, has a court order requiring her ex-husband to pay her $350 per month in
child support. Mrs. Herrington has certified that her ex husband is only paying
$100/month. however because the ex husband lost his job earlier
in the year. Mrs. Herrington has not gone back to court to seek injunction
requiring payment of the remaining amount.The owner of the LIHTC property
should
Answer
Include $4800 as part of the family income.
6. A disabled family member of a LIHTC applicant family receives $700 per
month from a special needs trust set up for his support. How much of this
amount must be included as part of annual family income for LIHTC eligibility
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LIHTC Practice Exam
Questions & Answers
1. The head of Household is age 65. He receives $650 per month is Social Se-
curity benefits. How much of this is included as annual family income?
Answer $7800
2. An adult household member of a LIHTC family receives $400/month from
management for cleaning the laundry rooms at the property. Because this is
considered as a resident service stipend by property's owners, non of it is
included as income for the family for eligibility purposes
Answer False
3. The son of the head of household in a LIHTC family is 45 years old. He is afull
time student. He earns $750/month from his job. How much of this amount is
included as part of annual family income for eligibility purposes?
Answer $480
1/4
1 of 12 12/10/2024, 11:58
,LIHTC Practice Exam.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/LIHTC%20Pract
4. The head of household of the family, who is a full time students, earns
$600/month from her job. The owner of the property must count all of this in-
come as part of the family gross annual income, for eligibility purposes.
Answer True
5. Mrs. Herrington, the spouse of the head of household applying for a LIHTC
unit, has a court order requiring her ex-husband to pay her $350 per month in
child support. Mrs. Herrington has certified that her ex husband is only paying
$100/month. however because the ex husband lost his job earlier
in the year. Mrs. Herrington has not gone back to court to seek injunction
requiring payment of the remaining amount.The owner of the LIHTC property
should
Answer
Include $4800 as part of the family income.
6. A disabled family member of a LIHTC applicant family receives $700 per
month from a special needs trust set up for his support. How much of this
amount must be included as part of annual family income for LIHTC eligibility
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2 of 12 12/10/2024, 11:58
