HCV TRAINING: RENT CALCULATIONS UPDATED ACTUAL Questions and CORRECT Answers

HCV TRAINING: RENT CALCULATIONS UPDATED ACTUAL Questions
and CORRECT Answers

1. PHAs must include all income of every family member including those who are
temporarily absent.

2. Convert earned income to an- • Multiply hourly wages by the number of hours work/year
nual income as follows: (2080 hours for full-time employment with a 40 hour work
week and no overtime.
• Multiply weekly wages by 52
• Multiply biweekly wages by 26
• Multiply semimonthly wages by 24
• Multiply monthly wages by 12

3. Multiply hourly wages by the number of hours work/year (2080 hours for full-time
employment with a 40 hour work week and no overtime.

4. Multiply weekly wages by 52

5. Multiply biweekly wages by 26

6. Multiply semimonthly wages by 24

7. Multiply monthly wages by 12

8. HUD requires the PHA two current and consecutive paystubs
collect a minimum
of
when calculating employment
income.

9. DEPENDENT INCOME: Earned not included.
income of minors (family mem-
bers 17 years of age and under)
is

, 10. included.




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