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HCV TRAINING: RENT CALCULATIONS – QUESTIONS AND COMPLETE ANSWERS
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HCV TRAINING: RENT CALCULATIONS – QUESTIONS AND COMPLETE ANSWERS
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HCV TRAINING: RENT CALCULATIONS – QUESTIONSAND COMPLETE ANSWERS
PHAs must include Right Ans - all income of every family member
including those who are temporarily absent.
Convert earned income to annual income as follows: Right Ans - • Multiply
hourly wages by the number of hours work/year (2080 hours for full-time
employment with a 40 hour work week and no overtime.
• Multiply weekly wages by 52
• Multiply biweekly wages by 26
• Multiply semimonthly wages by 24
• Multiply monthly wages by 12
Multiply hourly wages by Right Ans - the number of hours work/year
(2080 hours for full-time employment with a 40 hour work week and no
overtime.
Multiply weekly wages by Right Ans - 52
Multiply biweekly wages by Right Ans - 26
Multiply semimonthly wages by Right Ans - 24
Multiply monthly wages by Right Ans - 12
HUD requires the PHA collect a minimum of _____________________________ when
calculating employment income. Right Ans - two current and consecutive
paystubs
DEPENDENT INCOME: Earned income of minors (family members 17 years of
age and under) is Right Ans - not included.
DEPENDENT INCOME: Benefit and other non-earned income paid directly to
minors is Right Ans - included.
DEPENDENT INCOME: Asset income of minors is counted as income because
it is Right Ans - not "excluded income."
, DEPENDENT INCOME: Earnings in excess of $480 for each full-time student
18 years old or older is Right Ans - not included as income.
REGULAR CONTRIBUTIONS AND GIFTS: PHAs must include as income
Right Ans - regular contributions and gifts from persons outside the
household.
REGULAR CONTRIBUTIONS AND GIFTS: This may include Right Ans - rent
and utility payments paid on behalf of the family and other cash or noncash
contributions provided on a regular basis.
REGULAR CONTRIBUTIONS AND GIFTS: Casual contributions or sporadic gifts
are Right Ans - not included.
SOCIAL SECURITY Right Ans - Include the gross amount prior to Medicare
deduction.
ANNUALIZING SS USING EIV: PHAs are required to use Right Ans - the EIV-
reported SS and SSI benefit amount unless the participant disputes the EIV-
reported amount.
Lump-sum payments caused by delays in processing periodic payments (such
as unemployment or welfare assistance benefits) are Right Ans - included
as income.
INCOME FROM A BUSINESS (INCLUDING SELF-EMPLOYED): Net income
equals Right Ans - gross income less expenses.
INCOME FROM A BUSINESS (INCLUDING SELF-EMPLOYED) Right Ans - UP
TO AGENCY TO HAVE A CLEAR POLICY
A "Specified Welfare Benefit Reduction" is a reduction in welfare benefits due
to: Right Ans - • Fraud in connection with the welfare program
• Sanction for noncompliance with welfare agency requirement to participate
in an economic self-sufficiency program.
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