HCV Rent Calculation Study Guide UPDATED ACTUAL Questions and
CORRECT Answers
1. Annual income Total gross income of household members for 12 months, minus exclu-
sions
2. Adjusted income Annual income minus HUD-allowed deductions
3. Total tenant payment Amount tenant pays for rent and utilities per HUD formula
4. Tenant rent Tenant payment minus utility allowance paid to landlord
5. Monthly adjusted in- Adjusted annual income divided by 12
come
6. Utility allowance Estimate for non-rent utilities based on costs schedule
7. Imputed asset income PHA passbook rate x total asset value if over $5,000
8. Elderly family Family with head/spouse/cohead aged 62 or older
9. Disabled family Family with head/spouse/cohead with disabilities
10. Administrative plan PHA's policies for daily HCV program operation
11. ACOP Policies for public housing program
12. Imputed welfare income Welfare income included in annual income but not received
13. Dependent Family member under 18, disabled, or full-time student
14. Annualize income Project partial-year income as annual, recertify when income stops
15. Income conversion Multiply monthly/weekly income by specified factors
16. Seasonal income meth- Annualize current income or calculate yearly average
ods
, 17. PHAs should include temporarily absent family income
2/6
CORRECT Answers
1. Annual income Total gross income of household members for 12 months, minus exclu-
sions
2. Adjusted income Annual income minus HUD-allowed deductions
3. Total tenant payment Amount tenant pays for rent and utilities per HUD formula
4. Tenant rent Tenant payment minus utility allowance paid to landlord
5. Monthly adjusted in- Adjusted annual income divided by 12
come
6. Utility allowance Estimate for non-rent utilities based on costs schedule
7. Imputed asset income PHA passbook rate x total asset value if over $5,000
8. Elderly family Family with head/spouse/cohead aged 62 or older
9. Disabled family Family with head/spouse/cohead with disabilities
10. Administrative plan PHA's policies for daily HCV program operation
11. ACOP Policies for public housing program
12. Imputed welfare income Welfare income included in annual income but not received
13. Dependent Family member under 18, disabled, or full-time student
14. Annualize income Project partial-year income as annual, recertify when income stops
15. Income conversion Multiply monthly/weekly income by specified factors
16. Seasonal income meth- Annualize current income or calculate yearly average
ods
, 17. PHAs should include temporarily absent family income
2/6
