HCV SPECIALIST TEST BANK QUESTIONS
WITH VERIFIED ANSWERS FULL REVIEW
●● Adjusted annual income
Answer: Annual income less HUD allowances
●● Total monthly income
Answer: Annual Income divided by 12
●● Adjusted monthly income
Answer: Adjusted annual income divided by 12
●● Total family share
Answer: The total amount the HUD rent formula requires the tenant to
pay toward rent plus the PHA's utility allowance for the unit
●● Tenant rent to owner
Answer: The portion of the rent paid to the owner by the family
●● Utility reimbursement to family
Answer: The portion of the housing assistance payment which exceeds
the amount of the rent to owner
,●● Rent to owner
Answer: The amount that the owner is paid for rent from both the family
and the PHA
●● Utility allowance
Answer: Estimate calculated from schedule of utility costs for utilities
not included in owner's rent - an allowance for tenants toward payment
of utilities
●● Gross rent
Answer: Rent to owner plus utility allowance
●● Housing assistance payment contract
Answer: Contract between owner and PHA for housing assistance
●● Fair market rent (FMR)
Answer: A figure established by HUD by bedroom size to assist the PHA
in the determination of the payment standard schedule
●● Payment standard (PS)
Answer: A figure which determines the maximum amount of subsidy a
family can receive in the tenant-based assistance program
,●● Total HAP
Answer: The lower of the gross rent or the payment standard minus the
total tenant payment
●● Elderly family
Answer: Head, spouse, or cohead is 62 or older
●● When is maximum family share applied?
Answer: (At new admission or moves) When the gross rent exceeds the
payment standard
●● Income received during which time period is used in computing
annual income?
Answer: 12 months following certification or recertification
●● To convert income to annual amounts, multiply:
Answer: Monthly income x 12
Weekly income x 52
Bi-weekly income x 26
Semi-monthly income x 24
Hourly full-time x 2080
, ●● If someone is paid on the 1st and the 15th of the month, which
calculation would be useful?
Answer: Semi-monthly
●● Who is considered to be a dependent?
Answer: A member of the family (excluding foster children/adults or
live-in attendants), other than the family head or spouse or cohead, who
is under 18 years of age or who is a person with disabilities, or a full-
time student.
●● Describe the two methods for annualizing seasonal income
Answer: Method 1: Annualize current income and conduct an interim
reexam when income changes.
Method 2: Calculate anticipated income from all known sources for the
entire year. No interim reexam is needed
●● What income of a minor is included in annual income?
Answer: All income except employment, unless excluded by regulations
●● What is the difference in what income is included in annual income
if the minor is head or spouse?
Answer: All income of head or spouse is included in annual income,
unless excluded by regulations
WITH VERIFIED ANSWERS FULL REVIEW
●● Adjusted annual income
Answer: Annual income less HUD allowances
●● Total monthly income
Answer: Annual Income divided by 12
●● Adjusted monthly income
Answer: Adjusted annual income divided by 12
●● Total family share
Answer: The total amount the HUD rent formula requires the tenant to
pay toward rent plus the PHA's utility allowance for the unit
●● Tenant rent to owner
Answer: The portion of the rent paid to the owner by the family
●● Utility reimbursement to family
Answer: The portion of the housing assistance payment which exceeds
the amount of the rent to owner
,●● Rent to owner
Answer: The amount that the owner is paid for rent from both the family
and the PHA
●● Utility allowance
Answer: Estimate calculated from schedule of utility costs for utilities
not included in owner's rent - an allowance for tenants toward payment
of utilities
●● Gross rent
Answer: Rent to owner plus utility allowance
●● Housing assistance payment contract
Answer: Contract between owner and PHA for housing assistance
●● Fair market rent (FMR)
Answer: A figure established by HUD by bedroom size to assist the PHA
in the determination of the payment standard schedule
●● Payment standard (PS)
Answer: A figure which determines the maximum amount of subsidy a
family can receive in the tenant-based assistance program
,●● Total HAP
Answer: The lower of the gross rent or the payment standard minus the
total tenant payment
●● Elderly family
Answer: Head, spouse, or cohead is 62 or older
●● When is maximum family share applied?
Answer: (At new admission or moves) When the gross rent exceeds the
payment standard
●● Income received during which time period is used in computing
annual income?
Answer: 12 months following certification or recertification
●● To convert income to annual amounts, multiply:
Answer: Monthly income x 12
Weekly income x 52
Bi-weekly income x 26
Semi-monthly income x 24
Hourly full-time x 2080
, ●● If someone is paid on the 1st and the 15th of the month, which
calculation would be useful?
Answer: Semi-monthly
●● Who is considered to be a dependent?
Answer: A member of the family (excluding foster children/adults or
live-in attendants), other than the family head or spouse or cohead, who
is under 18 years of age or who is a person with disabilities, or a full-
time student.
●● Describe the two methods for annualizing seasonal income
Answer: Method 1: Annualize current income and conduct an interim
reexam when income changes.
Method 2: Calculate anticipated income from all known sources for the
entire year. No interim reexam is needed
●● What income of a minor is included in annual income?
Answer: All income except employment, unless excluded by regulations
●● What is the difference in what income is included in annual income
if the minor is head or spouse?
Answer: All income of head or spouse is included in annual income,
unless excluded by regulations
