Housing Counselor Exam - Pre
Assessment Exam Questions With
Correct Answers
Which |is |an |eligibility |factor |for |the |Earned |Income |Tax |Credit?
Receiving |wages
Which |situation |most |likely |indicates |a |loan |modification |scam?
The |client |receives |a |letter |from |a |company |guaranteeing |a |loan |modification
Which |was |instituted |by |Congress |to |better |protect |homebuyers |following |the |most |recent |
housing |crisis
Consumer |Finance |Protection |Bureau
121 |Which |is |an |example |of |a |change |enacted |by |Consumer |Finance |Protection |Bureau |(CFPB)
|that |would |help |a |client |prepare |for |the |mortgage |loan |process?
Easier-to-use |mortgage |disclosure |forms |that |clearly |outline |the |terms |of |a |mortgage |to |the |
borrower
Which |initiative |encourages |recipients |of |HUD |program |funding |to |advocate |that |lenders |
operate |in |underserved |areas
Affirmatively |Furthering |Fair |Housing
Which |action |taken |by |a |housing |counseling |agency |would |affirmatively |further |fair |housing
Create |an |outreach |campaign |designed |to |raise |awareness |about |critical |housing |topics
Affirmatively |Furthering |Fair |Housing
Affirmatively |furthering |fair |housing |focuses |on |education |and |prevention, |not |reacting |to |
violations. |The |most |appropriate |activity |is |to |create |a |targeted |outreach |campaign. |Reporting |
potential |violations |is |a |responsive |action, |not |an |affirmative |action. |Discouraging |clients |from |
leasing |with |certain |landlords |could |create |the |appearance |of |steering |and |should |be |avoided. |
,Housing |counselors |should |empower |clients |to |recognize |potential |violations |and |protect |their
|fair |housing |rights |so |they |can |view |properties |on |their |own.
Which |satisfies |a |housing |counseling |agency's |requirement |to |Affirmatively |Further |Fair |
Housing
Reviewing |marketing |materials |of |local |mortgage |lenders
Which |Affirmatively |Furthering |Fair |Housing |action |might |benefit |a |client
Conduct |educational |initiatives |to |inform |people |about |fair |housing |obligations
Which |disposition |option |typically |applies |to |a |manufactured |home |on |leased |land |when |the |
borrower |is |in |default
Replevin
Which |is |the |most |likely |consequence |of |a |short |sale
The |forgiven |mortgage |deficiency |may |be |treated |as |taxable |income
Means |Test
A |means |test |is |a |bankruptcy |qualification |that |considers |income |and |equity |in |assets |to |
determine |if |a |client |has |the |ability |to |repay |part |of |the |debt.
Which |is |the |first |step |in |the |loss |mitigation |submission |process
Determine |the |reason |the |client |is |behind |on |mortgage |payments
Which |is |the |best |advice |a |housing |counselor |should |give |the |client |about |an |emergency |
preparedness |plan
Encourage |involvement |of |the |entire |family
Which |is |an |appropriate |feature |of |a |safe |room
Few |or |no |windows
Which |is |an |important |characteristic |of |an |emergency |point |of |contact |when |creating |an |
Emergency |Preparedness |Plan
Lives |outside |the |immediate |area
During |a |party |at |the |client's |apartment, |a |friend |stumbles |over |a |hoodie |and |falls |down |the |
stairs, |crashing |into |the |client. |The |friend |breaks |his |leg |and |the |client |drops |his |cell |phone, |
breaking |it. |Which
feature |of |renter's |insurance |is |most |relevant |to |this |incident
, Personal |liability |coverage |could |protect |the |client |from |related |legal |action
Which |document |should |the |counselor |review |with |the |client |to |identify |spending |habits |and |
track |expenses
Bank |statement
Which |expense |is |generally |considered |to |be |a |"want" |as |opposed |to |a |"need
Cable
What |is |the |maximum |percent |of |area |median |income |allowable |for |a |household |to |qualify |for
|a |Housing |Choice |Voucher
50%
Which |is |the |maximum |recommended |front-end |ratio |(or |housing |ratio) |for |renting |an |
apartment
30%
How |should |a |client |apply |for |the |Housing |Choice |Voucher |Program?
Contact |the |local |Public |Housing |Authority
Which |website |provides |information |on |programs |to |assist |homebuyers |with |down |payment |
assistance
HUD.gov
In |order |to |minimize |the |impact |on |a |client's |credit |score, |what |is |the |maximum |time |frame |
within |which |the |client |should |apply |for |pre-approval |from |multiple |lenders
A |30-day |period
Which |is |a |responsibility |of |a |housing |couselor
Educate |homebuyers |about |their |rights
Which |type |of |loan |product |can |be |used |to |finance |the |purchase |of |a |manufactured |home |on |
leased |land
FHA |Title |I
Financing |options |for |the |purchase |of |a |manufactured |home |depend |on |which |factor
Land |property |interest
Which |is |a |responsibility |of |a |home |inspector
Assessment Exam Questions With
Correct Answers
Which |is |an |eligibility |factor |for |the |Earned |Income |Tax |Credit?
Receiving |wages
Which |situation |most |likely |indicates |a |loan |modification |scam?
The |client |receives |a |letter |from |a |company |guaranteeing |a |loan |modification
Which |was |instituted |by |Congress |to |better |protect |homebuyers |following |the |most |recent |
housing |crisis
Consumer |Finance |Protection |Bureau
121 |Which |is |an |example |of |a |change |enacted |by |Consumer |Finance |Protection |Bureau |(CFPB)
|that |would |help |a |client |prepare |for |the |mortgage |loan |process?
Easier-to-use |mortgage |disclosure |forms |that |clearly |outline |the |terms |of |a |mortgage |to |the |
borrower
Which |initiative |encourages |recipients |of |HUD |program |funding |to |advocate |that |lenders |
operate |in |underserved |areas
Affirmatively |Furthering |Fair |Housing
Which |action |taken |by |a |housing |counseling |agency |would |affirmatively |further |fair |housing
Create |an |outreach |campaign |designed |to |raise |awareness |about |critical |housing |topics
Affirmatively |Furthering |Fair |Housing
Affirmatively |furthering |fair |housing |focuses |on |education |and |prevention, |not |reacting |to |
violations. |The |most |appropriate |activity |is |to |create |a |targeted |outreach |campaign. |Reporting |
potential |violations |is |a |responsive |action, |not |an |affirmative |action. |Discouraging |clients |from |
leasing |with |certain |landlords |could |create |the |appearance |of |steering |and |should |be |avoided. |
,Housing |counselors |should |empower |clients |to |recognize |potential |violations |and |protect |their
|fair |housing |rights |so |they |can |view |properties |on |their |own.
Which |satisfies |a |housing |counseling |agency's |requirement |to |Affirmatively |Further |Fair |
Housing
Reviewing |marketing |materials |of |local |mortgage |lenders
Which |Affirmatively |Furthering |Fair |Housing |action |might |benefit |a |client
Conduct |educational |initiatives |to |inform |people |about |fair |housing |obligations
Which |disposition |option |typically |applies |to |a |manufactured |home |on |leased |land |when |the |
borrower |is |in |default
Replevin
Which |is |the |most |likely |consequence |of |a |short |sale
The |forgiven |mortgage |deficiency |may |be |treated |as |taxable |income
Means |Test
A |means |test |is |a |bankruptcy |qualification |that |considers |income |and |equity |in |assets |to |
determine |if |a |client |has |the |ability |to |repay |part |of |the |debt.
Which |is |the |first |step |in |the |loss |mitigation |submission |process
Determine |the |reason |the |client |is |behind |on |mortgage |payments
Which |is |the |best |advice |a |housing |counselor |should |give |the |client |about |an |emergency |
preparedness |plan
Encourage |involvement |of |the |entire |family
Which |is |an |appropriate |feature |of |a |safe |room
Few |or |no |windows
Which |is |an |important |characteristic |of |an |emergency |point |of |contact |when |creating |an |
Emergency |Preparedness |Plan
Lives |outside |the |immediate |area
During |a |party |at |the |client's |apartment, |a |friend |stumbles |over |a |hoodie |and |falls |down |the |
stairs, |crashing |into |the |client. |The |friend |breaks |his |leg |and |the |client |drops |his |cell |phone, |
breaking |it. |Which
feature |of |renter's |insurance |is |most |relevant |to |this |incident
, Personal |liability |coverage |could |protect |the |client |from |related |legal |action
Which |document |should |the |counselor |review |with |the |client |to |identify |spending |habits |and |
track |expenses
Bank |statement
Which |expense |is |generally |considered |to |be |a |"want" |as |opposed |to |a |"need
Cable
What |is |the |maximum |percent |of |area |median |income |allowable |for |a |household |to |qualify |for
|a |Housing |Choice |Voucher
50%
Which |is |the |maximum |recommended |front-end |ratio |(or |housing |ratio) |for |renting |an |
apartment
30%
How |should |a |client |apply |for |the |Housing |Choice |Voucher |Program?
Contact |the |local |Public |Housing |Authority
Which |website |provides |information |on |programs |to |assist |homebuyers |with |down |payment |
assistance
HUD.gov
In |order |to |minimize |the |impact |on |a |client's |credit |score, |what |is |the |maximum |time |frame |
within |which |the |client |should |apply |for |pre-approval |from |multiple |lenders
A |30-day |period
Which |is |a |responsibility |of |a |housing |couselor
Educate |homebuyers |about |their |rights
Which |type |of |loan |product |can |be |used |to |finance |the |purchase |of |a |manufactured |home |on |
leased |land
FHA |Title |I
Financing |options |for |the |purchase |of |a |manufactured |home |depend |on |which |factor
Land |property |interest
Which |is |a |responsibility |of |a |home |inspector
