Nan McKay HCV Specialist Certification Calculations(100% solved) Latest Questions & Well Elaborated Answers | Ace The Test
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Nan McKay HCV Specialist
Institution
Nan McKay HCV Specialist
Annual Income Calculation - Correct Answer Income + Asset Income
Adjusted Income - Correct Answer Total Annual Income - Allowances and Expenses Asset Income
Expected Income on 50058
Annual Income Definition - Correct Answer all amounts, monetary or not:
- Which go to or on behalf of th...
Nan McKay HCV Specialist Certification Calculations(100%
solved) Latest Questions & Well Elaborated Answers | Ace The
Test
Annual Income Calculation - Correct Answer Income + Asset Income
Adjusted Income - Correct Answer Total Annual Income - Allowances and Expenses Asset Income
Expected Income on 50058
Annual Income Definition - Correct Answer all amounts, monetary or not:
- Which go to or on behalf of the family head or
spouse or to any other family member, or
- That are anticipated to be received from a source
outside the family during the 12 month period
following admission or the annual reexamination
effective date, and
- Which are not specifically excluded in 24 CFR
5.609(c), and
- Also includes amounts derived from assets to which
any family member has access.
Adoption assistance payments
All sources of income are counted unless specifically
excluded by regulations for head, spouse, and other adults.
For the head of household, spouse, co-head and other adults, all income is counted unless regulations
state to exclude.
,Regulations specifically state that only the first $480 of employment income is counted annually for an
adult full-time student (never the head of household, spouse, or co-head).
Regulations also specifically state that no employment income is counted for children under 18 (this
does not include the head of household, spouse, or co-head).
PHAs must include all income of every family member, including those who are temporarily absent.
The treatment of income of family members who are
permanently confined to a hospital or nursing facility
depends on PHA policy.
The PHA administrative plan must cover PHA policy on family absence from a dwelling unit.
Imputed - Correct Answer Something we are acting like it's happening in our calculations but it's not.
Sanctioned - Correct Answer Reduced or terminated benefits.
TTP - Correct Answer Total Tenant Payment
the highest of the
following amounts, rounded to the nearest dollar:
- In non-as-paid states:
• 30% of family's monthly adjusted income
• 10% of family's monthly income
• PHA's minimum rent ($0 - $50 depending on
PHA policy)
- In as-paid states:
• 30% of family's monthly adjusted income
• 10% of family's monthly income
• PHA's minimum rent ($0 - $50 depending on
, PHA policy), or
• Welfare rent
- That part of welfare assistance received from
a public agency, specifically designated by
that agency to meet the family's actual
housing costs.
Earned to Annual Income Calculations - Correct Answer - 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 - Correct Answer Gross income prior to payroll deductions, and includes OT,
commissions, fees, tips, and bonuses.
Cyclical Income - Correct Answer Seasonal workers
Anticipating Income - Correct Answer Use current circumstances to anticipate income. Project
for a full 12 months, even if income is not expected to
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