HCV SPECIALIST UPDATED 2026 EXAMS SCRIPT
QUESTIONS AND ANSWERS GRADED A+
✔✔Earned to Annual Income Calculations - ✔✔- Multiply hourly wages by the number
of hours
worked/year (2080 hours for full-time employment
with a 40-hour work week and no overtime)
- Multiply weekly wages by 52
- Multiply bi-weekly wages by 26
- Multiply semi-monthly wages by 24
- Multiply monthly wages by 12.
✔✔Employment Income - ✔✔Gross income prior to payroll deductions, and includes
OT, commissions, fees, tips, and bonuses.
✔✔Cyclical Income - ✔✔Seasonal workers
✔✔Anticipating Income - ✔✔Use current circumstances to anticipate income. Project
for a full 12 months, even if income is not expected to
continue, unless verification forms indicate an
imminent change, or income is cyclical (such as
seasonal workers).
✔✔Seasonal Employment Calculations - ✔✔Method 1
Annualize current income, and conduct an interim
reexamination when the income changes.
Job 1: x a month x 12 months = x per year
then at re-exam
Job 2: x a month x 12 months = x per year
Method 2
Calculate the actual anticipated income from all known
sources for the entire year. This means there will be no
interim reexamination when the income changes as
already anticipated. However, to use method 2, a
history of the individual's income from past years is
needed. This method cannot be used when the future
income source is "unknown" or "none".
Job 1: x a month x 8 months = x per year
Job 2: x a month x 4 months = x per year
Total for annual
, ✔✔Adult Full Time Students - ✔✔Include only the first $480 of earned income in annual
income.
Any financial assistance of a student residing with parents is excluded from annual
income.
✔✔Social Security Benefits - ✔✔If Social Security Benefits are reduced to make up for
prior overpayments by the SSA, include the amount provided, not the amount that
would have been provided if no error had been made.
✔✔Military Pay - ✔✔Count all regular pay, special pay, and allowances of a
member of the armed forces (whether or not living in
the dwelling).
Exclude the special pay for exposure to hostile fire.
✔✔Asset Income - ✔✔• Income from assets - for example, interest on savings
accounts, stock dividends, net income from real or
personal property - is counted when determining
annual income.
• Rental income is not considered "business income" if
there is only one property rented out and the rental is
not approached as a business.
✔✔Sporadic Gifts - ✔✔Casual contributions or sporadic gifts are not included as
income.
✔✔Regular Contributions & Gifts - ✔✔• PHAs must include as income regular
contributions
and gifts from persons outside the household.
• This may include rent and utility payments paid on
behalf of the family and other cash or non-cash
contributions provided on a regular basis.
✔✔Periodic Payments & Allowances - ✔✔• Social Security (full amount of Social
Security prior to
Medicare deduction)
• Annuities
• Insurance policies
• Pensions
• Disability
• Death benefits
• Withdrawal from Investments as Income
• Alimony and child support
QUESTIONS AND ANSWERS GRADED A+
✔✔Earned to Annual Income Calculations - ✔✔- Multiply hourly wages by the number
of hours
worked/year (2080 hours for full-time employment
with a 40-hour work week and no overtime)
- Multiply weekly wages by 52
- Multiply bi-weekly wages by 26
- Multiply semi-monthly wages by 24
- Multiply monthly wages by 12.
✔✔Employment Income - ✔✔Gross income prior to payroll deductions, and includes
OT, commissions, fees, tips, and bonuses.
✔✔Cyclical Income - ✔✔Seasonal workers
✔✔Anticipating Income - ✔✔Use current circumstances to anticipate income. Project
for a full 12 months, even if income is not expected to
continue, unless verification forms indicate an
imminent change, or income is cyclical (such as
seasonal workers).
✔✔Seasonal Employment Calculations - ✔✔Method 1
Annualize current income, and conduct an interim
reexamination when the income changes.
Job 1: x a month x 12 months = x per year
then at re-exam
Job 2: x a month x 12 months = x per year
Method 2
Calculate the actual anticipated income from all known
sources for the entire year. This means there will be no
interim reexamination when the income changes as
already anticipated. However, to use method 2, a
history of the individual's income from past years is
needed. This method cannot be used when the future
income source is "unknown" or "none".
Job 1: x a month x 8 months = x per year
Job 2: x a month x 4 months = x per year
Total for annual
, ✔✔Adult Full Time Students - ✔✔Include only the first $480 of earned income in annual
income.
Any financial assistance of a student residing with parents is excluded from annual
income.
✔✔Social Security Benefits - ✔✔If Social Security Benefits are reduced to make up for
prior overpayments by the SSA, include the amount provided, not the amount that
would have been provided if no error had been made.
✔✔Military Pay - ✔✔Count all regular pay, special pay, and allowances of a
member of the armed forces (whether or not living in
the dwelling).
Exclude the special pay for exposure to hostile fire.
✔✔Asset Income - ✔✔• Income from assets - for example, interest on savings
accounts, stock dividends, net income from real or
personal property - is counted when determining
annual income.
• Rental income is not considered "business income" if
there is only one property rented out and the rental is
not approached as a business.
✔✔Sporadic Gifts - ✔✔Casual contributions or sporadic gifts are not included as
income.
✔✔Regular Contributions & Gifts - ✔✔• PHAs must include as income regular
contributions
and gifts from persons outside the household.
• This may include rent and utility payments paid on
behalf of the family and other cash or non-cash
contributions provided on a regular basis.
✔✔Periodic Payments & Allowances - ✔✔• Social Security (full amount of Social
Security prior to
Medicare deduction)
• Annuities
• Insurance policies
• Pensions
• Disability
• Death benefits
• Withdrawal from Investments as Income
• Alimony and child support
