Rent Calculation Test Questions And Answers.

Rent Calculation Test Questions And Answers. When the total cash value of assets are $5,000 or less, use the actual income derived from the asset. T/F - Correct Answer T Cash Value of Assets - Correct Answer Market Value of Asset - Expenses to convert to cash Anticipated Income from assets - Correct Answer Interest and Dividends from an asset Assets of a 15 year old minor are: Included or Excluded? - Correct Answer Included Assets that are part of an active business or farming operation are: Included or Excluded? - Correct Answer Excluded When an asset has been disposed of for less than fair market value, you must include the asset for: - Correct Answer 2 years from the date the asset was disposed of The amount included in annual income of a FTS who is working is: - Correct Answer The first $480 A resident service stipend is a modest amount not to exceed - Correct Answer $200 A resident service stipend may include: - Correct Answer hall watch, lawn care, fire patrol Imputed Welfare benefits are included in annual income for two reasons only: - Correct Answer Welfare Fraud and non compliance with a welfare self sufficiency program PHAs must count the child support/alimony granted to an individual by the court unless the individual can prove that payments are not being received. T/F - Correct Answer T The amount of Social Security included in annual income is the net amount after Medicare has been deducted. T/F - Correct Answer F What are the requirements for EID? - Correct Answer - Gained employment after being unemployed for a year+ - Increased earnings during a job training program or economic self-sufficiency program - Receiving TANF payments or received in the last 6 months An individual who has an increase in annual income as a result of earnings must be __________________ as well as qualify for one of the above - Correct Answer disabled