HUD Housing Counselors Knowledge
Assessment Questions With Correct
Answers
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
|total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
Which |additional |information |would |the |housing |counselor |need |to |prepare |a |household |
budget |for |this |client?
Net |income
3 |multiple |choice |options
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
, | total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
Which |item |in |the |client's |budget |is |a |fixed |expense?
Car |lease |payment
3 |multiple |choice |options
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
|total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
With |a |monthly |mortgage |payment |of |$950, |which |is |the |client's |back-end |ratio |(round |to |the |
nearest |whole |percent)?
33%
3 |multiple |choice |options
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
|total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
The |client |is |considering |an |FHA |mortgage. |What |is |the |upfront |mortgage |insurance |premium |
(UFMIP) |for |an |FHA |mortgage?
Assessment Questions With Correct
Answers
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
|total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
Which |additional |information |would |the |housing |counselor |need |to |prepare |a |household |
budget |for |this |client?
Net |income
3 |multiple |choice |options
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
, | total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
Which |item |in |the |client's |budget |is |a |fixed |expense?
Car |lease |payment
3 |multiple |choice |options
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
|total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
With |a |monthly |mortgage |payment |of |$950, |which |is |the |client's |back-end |ratio |(round |to |the |
nearest |whole |percent)?
33%
3 |multiple |choice |options
A |client, |who |is |a |divorced |local |school |teacher, |is |interested |in |purchasing |his |first |home. |He |
wishes |to |stay |in |the |same |neighborhood |where |he |now |lives |and |to |purchase |a |home |in |the |
low-$100,000 |range. |He |currently |leases |a |car |for |$435 |a |month |and |would |like |to |buy |a |new |
car. |The |client |has |a |lease |on |an |apartment |with |his |college |friend. |Their |monthly |rent |on |the |
apartment, |which |they |split |evenly, |is |$1,100. |He |has |been |working |as |a |teacher |for |five |years |
and |earns |$50,000 |a |year. |His |divorce |was |finalized |last |year.
The |housing |counselor |pulled |the |client's |credit, |and |he |has |no |debt |except |his |car |payment; |
however, |he |has |filed |for |bankruptcy |in |the |past. |The |client |is |worried, |because |his |roommate |
did |not |pay |a |monthly |utility |bill |earlier |this |year |which |is |under |the |client's |name. |The |client's
|total |monthly |expenses |are |$2,162, |and |he |is |current |on |all |other |bills.
The |client |is |considering |an |FHA |mortgage. |What |is |the |upfront |mortgage |insurance |premium |
(UFMIP) |for |an |FHA |mortgage?
