LIHTC Practice Exam
The head of Household is age sixty five. He gets $650 according to month is Social Security
blessings. How a good deal of that is protected as annual circle of relatives income?
$7800
An grownup household member of a LIHTC family receives $400/month from management
for cleansing the laundry rooms at the assets. Because this is taken into consideration as a
resident provider stipend with the aid of assets's proprietors, non of it's miles protected as
earnings for the own family for eligibility functions
False
The son of the pinnacle of family in a LIHTC circle of relatives is 45 years antique. He is a
complete time pupil. He earns $750/month from his activity. How much of this quantity is
protected as part of annual own family income for eligibility purposes?
$480
The head of household of the family, who is a full time college students, earns $600/month
from her task. The owner of the belongings should remember all of this profits as a part of
the circle of relatives gross annual income, for eligibility purposes.
True
Mrs. Herrington, the partner of the pinnacle of household applying for a LIHTC unit, has a
courtroom order requiring her ex-husband to pay her $350 consistent with month in baby
assist. Mrs. Herrington has licensed that her ex husband is most effective paying $one
hundred/month. However due to the fact the ex husband lost his job in advance within the 12
months. Mrs. Herrington has no longer long past lower back to court docket to are searching
for injunction requiring payment of the closing amount. The proprietor of the LIHTC
belongings need to:
Include $4800 as part of the family earnings.
A disabled member of the family of a LIHTC applicant own family receives $seven hundred
in step with month from a special needs believe installation for his help. How tons of this
quantity must be covered as a part of annual family earnings for LIHTC eligibility purposes?
$8400
A LIHTC Family receives $three hundred in step with month in SSI Disability bills inside the
call of the family's 10 year vintage daughter. Because the daughter is under 18 years of age,
, this unearned earnings is not protected as a part of the yearly own family profits for eligibility
functions
False
The 18 12 months vintage head of household in a LIHTC applicant own family reviews that
she earns $900 according to month operating at McDonalds. Her spouse, age 17, also
works at the eating place, and earns $600 in step with month from his process. The overall
amount to be protected as a part of annual family profits from these jobs is.
$18000
The Head of the household in a LIHTC applicant circle of relatives reports he has the
subsequent earning:
$40/month social security benefits. $125/month in SNAP benefits. $210/month for
participating within the senior aids program.
How much of those profits is protected as hi gross annual earnings for LIHTC eligibility
purposes
$4800
The son of the top of household applying for a LIHTC unit gets $28000 in a scholarship for
university. His training charges for the yr = $24000. None of this amount is counted as part of
the once a year own family earnings for LIHTC eligibility
True
What following earning is included as part of annual circle of relatives earnings for LIHTC
eligibility purposes?
$45 consistent with month the family gets as a furnish from the National Endowment for the
Arts
Because a family member is an navy veteran, her monthly veteran's pension isn't always
blanketed as part of annual circle of relatives earnings, for LIHTC eligibility functions
False.
The 20 12 months vintage daughter of the head of household in a LIHTC applicant circle of
relatives gets $500 in step with month for working at a nearby grocery. She attends faculty at
the local community college on a component time basis. How much of this earnings is
included as a part of annual own family profits for LIHTC
$6000
The Total quantity of a circle of relatives's public help advantages is covered as income for
the family for LIHTC eligibility functions.
The head of Household is age sixty five. He gets $650 according to month is Social Security
blessings. How a good deal of that is protected as annual circle of relatives income?
$7800
An grownup household member of a LIHTC family receives $400/month from management
for cleansing the laundry rooms at the assets. Because this is taken into consideration as a
resident provider stipend with the aid of assets's proprietors, non of it's miles protected as
earnings for the own family for eligibility functions
False
The son of the pinnacle of family in a LIHTC circle of relatives is 45 years antique. He is a
complete time pupil. He earns $750/month from his activity. How much of this quantity is
protected as part of annual own family income for eligibility purposes?
$480
The head of household of the family, who is a full time college students, earns $600/month
from her task. The owner of the belongings should remember all of this profits as a part of
the circle of relatives gross annual income, for eligibility purposes.
True
Mrs. Herrington, the partner of the pinnacle of household applying for a LIHTC unit, has a
courtroom order requiring her ex-husband to pay her $350 consistent with month in baby
assist. Mrs. Herrington has licensed that her ex husband is most effective paying $one
hundred/month. However due to the fact the ex husband lost his job in advance within the 12
months. Mrs. Herrington has no longer long past lower back to court docket to are searching
for injunction requiring payment of the closing amount. The proprietor of the LIHTC
belongings need to:
Include $4800 as part of the family earnings.
A disabled member of the family of a LIHTC applicant own family receives $seven hundred
in step with month from a special needs believe installation for his help. How tons of this
quantity must be covered as a part of annual family earnings for LIHTC eligibility purposes?
$8400
A LIHTC Family receives $three hundred in step with month in SSI Disability bills inside the
call of the family's 10 year vintage daughter. Because the daughter is under 18 years of age,
, this unearned earnings is not protected as a part of the yearly own family profits for eligibility
functions
False
The 18 12 months vintage head of household in a LIHTC applicant own family reviews that
she earns $900 according to month operating at McDonalds. Her spouse, age 17, also
works at the eating place, and earns $600 in step with month from his process. The overall
amount to be protected as a part of annual family profits from these jobs is.
$18000
The Head of the household in a LIHTC applicant circle of relatives reports he has the
subsequent earning:
$40/month social security benefits. $125/month in SNAP benefits. $210/month for
participating within the senior aids program.
How much of those profits is protected as hi gross annual earnings for LIHTC eligibility
purposes
$4800
The son of the top of household applying for a LIHTC unit gets $28000 in a scholarship for
university. His training charges for the yr = $24000. None of this amount is counted as part of
the once a year own family earnings for LIHTC eligibility
True
What following earning is included as part of annual circle of relatives earnings for LIHTC
eligibility purposes?
$45 consistent with month the family gets as a furnish from the National Endowment for the
Arts
Because a family member is an navy veteran, her monthly veteran's pension isn't always
blanketed as part of annual circle of relatives earnings, for LIHTC eligibility functions
False.
The 20 12 months vintage daughter of the head of household in a LIHTC applicant circle of
relatives gets $500 in step with month for working at a nearby grocery. She attends faculty at
the local community college on a component time basis. How much of this earnings is
included as a part of annual own family profits for LIHTC
$6000
The Total quantity of a circle of relatives's public help advantages is covered as income for
the family for LIHTC eligibility functions.
