NAN MCKAY HCV SPECIALIST Certification
Calculations Test Questions and Answers
Latest Versions 2025 Top Rated A+
EconomicbSelf-SufficiencybProgramb-bcorrectbanswer-
Anybprogrambdesignedbtobencourage,bassist,btrain,borbfacilitatebeconomicbindepende
ncebofbassistedbfamiliesborbtobprovidebworkbforbsuchbfamilies.
IncrementalbIncreaseb-bcorrectbanswer-
Thebincreasebattributablebtobearningsbafterbthebqualifyingbchange.
Assetsb-bcorrectbanswer-•bAmountsbinbsavingsbandbcheckingbaccounts
•bThebcashbvaluebofbtrustsbthatbarebavailablebtobabfamily
•bStocks,bbonds,bsavingsbcertificates,bmoneybmarket
funds,bandbotherbinvestmentbaccounts
•bEquitybinbrealbpropertyb(landbownedborbbequeathed)bor
otherbcapitalbinvestments
•bExpensesbtobconvertbtobcashbmaybincludebsuchbcostsbas
brokerbfees,bsalesbcommissions,bsettlementbcosts,band
transferbtaxes
•bIRA,bKeogh,bandbsimilarbretirementbsavingsbaccounts,
evenbthoughbwithdrawalbwouldbresultbinbabpenalty
•bContributionsbtobcompanybretirement/pensionbfundsbif
anybmemberbofbthebfamilybhasbaccessbtobthebasset
•bAssetsbthat,balthoughbownedbbybmorebthanbonebperson,
allowbunrestrictedbaccessbbybthebapplicant
•bOnebtimeblump-sumbpayments:
-Inheritances
-Capitalbgains
-LotterybWinnings
-SocialbSecurityb&bSSIblumpbsumbpayments
•bPersonalbpropertybheldbasbanbinvestment,bsuchbasbgems,
jewelry,bcoinbcollections,bantiquebcars,betc.
•bCashbvaluebofblifebinsurancebpolicies.
Non-Assetsb-bcorrectbanswer-
•bNecessarybitemsbofbpersonalbpropertybsuchbasbfurniture
andbautomobiles
•bAssetsbnotbaccessiblebtobthebfamily
•bInterestbinbIndianbTrustblands
•bValuebofbabhomebbeingbpurchasedbthroughbthebHCV
, Homeownershipbprogram
Distributedbincomebfrombtrusts
CashbValueb-bcorrectbanswer-Cashbvaluebofbanbassetbisbthebmarketbvaluebless
reasonablebexpensesbthatbwouldbbebincurredbbybthe
familybtobsellborbconvertbthebassetbtobcash,bsuchbas:
-bPenaltiesbforbearlybwithdrawal
-bBrokerbfees
-bLegalbfees
-bSettlementbcostsbforbrealbestate
MarketbValueb-bcorrectbanswer-
Thebamountbthebassetbisbworth,bwhichbisbusedbtobdeterminebthebactualbincomebfrombt
hebasset
CashbValuebFormulab-bcorrectbanswer-Equityb-
bExpensebtobconvertbtobcashb=bCashbValue
EquitybFormulab-bcorrectbanswer-MarketbValueb-bLoanb(mortgage)b=bEquity
AnticipatedbIncomeb-bcorrectbanswer-
Marketbvaluebxbinterestbrateb=banticipatedbincome
Usebwhenbnetbcashbvaluebofballbassetsbisb$5kborbless.
ImputedbAssetbIncomeb-bcorrectbanswer-incomebthatbwouldbbe
receivedbfrombanbassetbifbitbwerebconvertedbtobcashband
placedbinbabsavingsbaccountbearningbanbaverage
passbookbratebasbdeterminedbbybthebPHA.
Assetsbthatbarebassetsbdisposedbofbwithinb2byearsbpriorbtobexamborbreexambforblessbt
hanbFMV.b
CashbValuebofbanbimputedbassetbisbthebdifferencebbetweenbthebactualbcashbvaluebofb
thebassetbandbthebamountbreceived.b
ThebPHAbestablishesbabpassbookbratebwithin
0.75bpercentbofbabnationalbaverage.
•b0.75bpercentbisbthree-quartersbofbonebpercent
Imputedbassetbincomebonlybcomesbintobplaybwhenbthe
totalbcashbvaluebofballbassetsbexceedsb$5,000.
Elderly/DisabledbAllowanceb-bcorrectbanswer-
Forbabfamilybwherebthebheadborbspousebisbatbleastb62borbdisabled,boneb$400belderly/
disabledballowancebisbthebmaximumbamountbthebfamilybcanbreceive,bevenbifbbothbthe
bheadbandbspousebarebelderlyborbdisabled.
ChildbCarebAllowanceb-bcorrectbanswer-Reasonablebexpensesbforbchildrenbunderb13
Calculations Test Questions and Answers
Latest Versions 2025 Top Rated A+
EconomicbSelf-SufficiencybProgramb-bcorrectbanswer-
Anybprogrambdesignedbtobencourage,bassist,btrain,borbfacilitatebeconomicbindepende
ncebofbassistedbfamiliesborbtobprovidebworkbforbsuchbfamilies.
IncrementalbIncreaseb-bcorrectbanswer-
Thebincreasebattributablebtobearningsbafterbthebqualifyingbchange.
Assetsb-bcorrectbanswer-•bAmountsbinbsavingsbandbcheckingbaccounts
•bThebcashbvaluebofbtrustsbthatbarebavailablebtobabfamily
•bStocks,bbonds,bsavingsbcertificates,bmoneybmarket
funds,bandbotherbinvestmentbaccounts
•bEquitybinbrealbpropertyb(landbownedborbbequeathed)bor
otherbcapitalbinvestments
•bExpensesbtobconvertbtobcashbmaybincludebsuchbcostsbas
brokerbfees,bsalesbcommissions,bsettlementbcosts,band
transferbtaxes
•bIRA,bKeogh,bandbsimilarbretirementbsavingsbaccounts,
evenbthoughbwithdrawalbwouldbresultbinbabpenalty
•bContributionsbtobcompanybretirement/pensionbfundsbif
anybmemberbofbthebfamilybhasbaccessbtobthebasset
•bAssetsbthat,balthoughbownedbbybmorebthanbonebperson,
allowbunrestrictedbaccessbbybthebapplicant
•bOnebtimeblump-sumbpayments:
-Inheritances
-Capitalbgains
-LotterybWinnings
-SocialbSecurityb&bSSIblumpbsumbpayments
•bPersonalbpropertybheldbasbanbinvestment,bsuchbasbgems,
jewelry,bcoinbcollections,bantiquebcars,betc.
•bCashbvaluebofblifebinsurancebpolicies.
Non-Assetsb-bcorrectbanswer-
•bNecessarybitemsbofbpersonalbpropertybsuchbasbfurniture
andbautomobiles
•bAssetsbnotbaccessiblebtobthebfamily
•bInterestbinbIndianbTrustblands
•bValuebofbabhomebbeingbpurchasedbthroughbthebHCV
, Homeownershipbprogram
Distributedbincomebfrombtrusts
CashbValueb-bcorrectbanswer-Cashbvaluebofbanbassetbisbthebmarketbvaluebless
reasonablebexpensesbthatbwouldbbebincurredbbybthe
familybtobsellborbconvertbthebassetbtobcash,bsuchbas:
-bPenaltiesbforbearlybwithdrawal
-bBrokerbfees
-bLegalbfees
-bSettlementbcostsbforbrealbestate
MarketbValueb-bcorrectbanswer-
Thebamountbthebassetbisbworth,bwhichbisbusedbtobdeterminebthebactualbincomebfrombt
hebasset
CashbValuebFormulab-bcorrectbanswer-Equityb-
bExpensebtobconvertbtobcashb=bCashbValue
EquitybFormulab-bcorrectbanswer-MarketbValueb-bLoanb(mortgage)b=bEquity
AnticipatedbIncomeb-bcorrectbanswer-
Marketbvaluebxbinterestbrateb=banticipatedbincome
Usebwhenbnetbcashbvaluebofballbassetsbisb$5kborbless.
ImputedbAssetbIncomeb-bcorrectbanswer-incomebthatbwouldbbe
receivedbfrombanbassetbifbitbwerebconvertedbtobcashband
placedbinbabsavingsbaccountbearningbanbaverage
passbookbratebasbdeterminedbbybthebPHA.
Assetsbthatbarebassetsbdisposedbofbwithinb2byearsbpriorbtobexamborbreexambforblessbt
hanbFMV.b
CashbValuebofbanbimputedbassetbisbthebdifferencebbetweenbthebactualbcashbvaluebofb
thebassetbandbthebamountbreceived.b
ThebPHAbestablishesbabpassbookbratebwithin
0.75bpercentbofbabnationalbaverage.
•b0.75bpercentbisbthree-quartersbofbonebpercent
Imputedbassetbincomebonlybcomesbintobplaybwhenbthe
totalbcashbvaluebofballbassetsbexceedsb$5,000.
Elderly/DisabledbAllowanceb-bcorrectbanswer-
Forbabfamilybwherebthebheadborbspousebisbatbleastb62borbdisabled,boneb$400belderly/
disabledballowancebisbthebmaximumbamountbthebfamilybcanbreceive,bevenbifbbothbthe
bheadbandbspousebarebelderlyborbdisabled.
ChildbCarebAllowanceb-bcorrectbanswer-Reasonablebexpensesbforbchildrenbunderb13
