HUD housing counselors training Module
1-2 Exam Questions With Correct
Answers
the |purpose |of |tracking |your |money |- |CORRECT |ANSWER✔✔-to |help |you |achieve |your |
financial |goals
documents |to |use |when |tracking |income |- |CORRECT |ANSWER✔✔-- |paychecks
- |direct |deposit |slips
- |if |self-employed, |income |and |expenses |sheet
- |if |self-employed, |profit |and |loss |statements
- |additional |income |checks |or |cash
- |government |benefits |letters |(SSI, |unemployment, |etc.)
- |child |support |documents
- |any |document |that |proves |a |source |of |regular |income
documents |not |to |use |when |tracking |income |- |CORRECT |ANSWER✔✔-- |pre-tax |payroll |
deductions
- |credit |score |
- |annual |bonus |(not |guaranteed)
- |stock |dividends |(not |guaranteed |or |consistent)
- |employer |reimbursments
Documents |to |use |when |tracking |expenses |- |CORRECT |ANSWER✔✔--Bills
,-Bank |statements
-Credit |cards |statements
-Records |for |estimated |amount |of |expected |periodic |expense
- |credit |report |(may |be |useful |to |determine |if |a |client |has |forgotten |a |credit |card |or |loan |
payment)
steps |to |help |clients |develop |a |budget |and |a |Client |Action |Plan |- |CORRECT |ANSWER✔✔-1. |
help |the |client |identify |short |and |long |term |goals
2. |discuss |the |importance |of |budgeting |as |a |tool |to |achieving |goals
3. |explain |the |budget |creation |process |and |the |necessary |components
4. |create |budget
5. |examine |content |in |the |budget |worksheet
6. |ask |clinet |what |s/he |has |discovered |about |income |and |spending |habits
7. |coach |clients |on |strategies |for |determining |needs |over |wants
8. |walk |through |strategies |for |adjusting |goals |and |budget
9. |develop |a |Client |Action |Plan |that |includes |client |and |counselor |action |steps |and |time |
frames
strategies |for |increasing |income |include |- |CORRECT |ANSWER✔✔-- |find |second |job
- |work |overtime
- |negotiate |higher |salary/wage
- |sell |assets |(e.g., |car)
- |hold |a |yard/ |garage |sale
- |teach |a |skill/craft/activity
- |sell |a |craft/craft/activity
- |charge |rent |(if |adult |dependents |in |home)
- |evaluate |tax |withholdings
, strategies |for |decreasing |expenses |and |debt |include |- |CORRECT |ANSWER✔✔-- |prioritze
|"needs" |over |"wants"
- |reduce |or |eliminate |"wants" |(e.g., |clothes, |gym)
- |cancel |or |downgrade |services |(e.g., |cable, |telephone)
- |limit |miscellaneous |spending
- |stick |to |a |shopping |list
- |reduce |debt |(pay |off |a |loan |or |credit |card)
- |move |to |more |affordable |housing
- |change |insurance |coverage |for |lower |premiums, |but |don't |cancel
if |you |find |extra |money |in |the |budget |after |adjusting, |plan |to |use |it |towards... |- |CORRECT |
ANSWER✔✔-a |goal
a |client's |housing |goal |and |the |counselor's |action |steps |are |included |in... |- |CORRECT |
ANSWER✔✔-The |Client |Action |Plan
a |credit |report |contains |information... |- |CORRECT |ANSWER✔✔-that |each |credit |bureau |has |on
|a |consumer
different |sections |of |a |credit |report |- |CORRECT |ANSWER✔✔-- |personal |information
- |account/trade |line |information
- |public |records
- |inquiries
- |consumer |rights
personal |information |in |credit |report |- |CORRECT |ANSWER✔✔-consumer |identification |
information:
1-2 Exam Questions With Correct
Answers
the |purpose |of |tracking |your |money |- |CORRECT |ANSWER✔✔-to |help |you |achieve |your |
financial |goals
documents |to |use |when |tracking |income |- |CORRECT |ANSWER✔✔-- |paychecks
- |direct |deposit |slips
- |if |self-employed, |income |and |expenses |sheet
- |if |self-employed, |profit |and |loss |statements
- |additional |income |checks |or |cash
- |government |benefits |letters |(SSI, |unemployment, |etc.)
- |child |support |documents
- |any |document |that |proves |a |source |of |regular |income
documents |not |to |use |when |tracking |income |- |CORRECT |ANSWER✔✔-- |pre-tax |payroll |
deductions
- |credit |score |
- |annual |bonus |(not |guaranteed)
- |stock |dividends |(not |guaranteed |or |consistent)
- |employer |reimbursments
Documents |to |use |when |tracking |expenses |- |CORRECT |ANSWER✔✔--Bills
,-Bank |statements
-Credit |cards |statements
-Records |for |estimated |amount |of |expected |periodic |expense
- |credit |report |(may |be |useful |to |determine |if |a |client |has |forgotten |a |credit |card |or |loan |
payment)
steps |to |help |clients |develop |a |budget |and |a |Client |Action |Plan |- |CORRECT |ANSWER✔✔-1. |
help |the |client |identify |short |and |long |term |goals
2. |discuss |the |importance |of |budgeting |as |a |tool |to |achieving |goals
3. |explain |the |budget |creation |process |and |the |necessary |components
4. |create |budget
5. |examine |content |in |the |budget |worksheet
6. |ask |clinet |what |s/he |has |discovered |about |income |and |spending |habits
7. |coach |clients |on |strategies |for |determining |needs |over |wants
8. |walk |through |strategies |for |adjusting |goals |and |budget
9. |develop |a |Client |Action |Plan |that |includes |client |and |counselor |action |steps |and |time |
frames
strategies |for |increasing |income |include |- |CORRECT |ANSWER✔✔-- |find |second |job
- |work |overtime
- |negotiate |higher |salary/wage
- |sell |assets |(e.g., |car)
- |hold |a |yard/ |garage |sale
- |teach |a |skill/craft/activity
- |sell |a |craft/craft/activity
- |charge |rent |(if |adult |dependents |in |home)
- |evaluate |tax |withholdings
, strategies |for |decreasing |expenses |and |debt |include |- |CORRECT |ANSWER✔✔-- |prioritze
|"needs" |over |"wants"
- |reduce |or |eliminate |"wants" |(e.g., |clothes, |gym)
- |cancel |or |downgrade |services |(e.g., |cable, |telephone)
- |limit |miscellaneous |spending
- |stick |to |a |shopping |list
- |reduce |debt |(pay |off |a |loan |or |credit |card)
- |move |to |more |affordable |housing
- |change |insurance |coverage |for |lower |premiums, |but |don't |cancel
if |you |find |extra |money |in |the |budget |after |adjusting, |plan |to |use |it |towards... |- |CORRECT |
ANSWER✔✔-a |goal
a |client's |housing |goal |and |the |counselor's |action |steps |are |included |in... |- |CORRECT |
ANSWER✔✔-The |Client |Action |Plan
a |credit |report |contains |information... |- |CORRECT |ANSWER✔✔-that |each |credit |bureau |has |on
|a |consumer
different |sections |of |a |credit |report |- |CORRECT |ANSWER✔✔-- |personal |information
- |account/trade |line |information
- |public |records
- |inquiries
- |consumer |rights
personal |information |in |credit |report |- |CORRECT |ANSWER✔✔-consumer |identification |
information:
