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HUD Housing Counselor Bundled Exams 2023 with 100% correct answers
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[Show more]Deed Restrictions 
Legally enforceable terms that govern the use of real estate 
 
 
 
Redlining 
The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status...
Preview 2 out of 11 pages
Add to cartDeed Restrictions 
Legally enforceable terms that govern the use of real estate 
 
 
 
Redlining 
The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status...
% Impact of Account Payment History on Credit Score 
35% 
portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens 
 
 
 
% Impact of Amounts Owed on Accounts on Credit Score 
30% 
portion of score based on the ratio of total cred...
Preview 4 out of 53 pages
Add to cart% Impact of Account Payment History on Credit Score 
35% 
portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens 
 
 
 
% Impact of Amounts Owed on Accounts on Credit Score 
30% 
portion of score based on the ratio of total cred...
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? 
List of Assets 
Retirement plan statement 
Pay stub X 
Current lease 
 
 
 
A client would like purchase a home within one year. The client is motivated to increase household in...
Preview 2 out of 11 pages
Add to cartWhich document is most important when working with a client to develop an initial budget as part of a Client Action Plan? 
List of Assets 
Retirement plan statement 
Pay stub X 
Current lease 
 
 
 
A client would like purchase a home within one year. The client is motivated to increase household in...
Adjustable Rate Mortgage (ARM) 
Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. 
 
 
 
Adjusted G...
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Add to cartAdjustable Rate Mortgage (ARM) 
Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. 
 
 
 
Adjusted G...
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? 
Pay Stub 
 
 
 
A client would like to purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for ...
Preview 2 out of 10 pages
Add to cartWhich document is most important when working with a client to develop an initial budget as part of a Client Action Plan? 
Pay Stub 
 
 
 
A client would like to purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for ...
Which document should the counselor review with the client to identify spending habits and track expenses: 
Bank statement 
 
 
 
Which additional information would the housing counselor need to prepare a household budget for this client? 
Net income 
 
 
 
Which item in the client's budget is a fi...
Preview 2 out of 13 pages
Add to cartWhich document should the counselor review with the client to identify spending habits and track expenses: 
Bank statement 
 
 
 
Which additional information would the housing counselor need to prepare a household budget for this client? 
Net income 
 
 
 
Which item in the client's budget is a fi...
Which document should the counselor review with the client to identify spending habits and track expenses: 
Bank statement 
 
 
 
Which additional information would the housing counselor need to prepare a household budget for this client? 
Net income 
 
 
 
Which item in the client's budget is a fi...
Preview 2 out of 13 pages
Add to cartWhich document should the counselor review with the client to identify spending habits and track expenses: 
Bank statement 
 
 
 
Which additional information would the housing counselor need to prepare a household budget for this client? 
Net income 
 
 
 
Which item in the client's budget is a fi...
Types of Credit Used 
Student loan or credit cards only 
 
 
 
FAKO scores 
purchase score which are educational score 
 
 
 
Fair Credit Reporting Act FCRA 
what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights 
 
 
 
Fair and Accurate ...
Preview 3 out of 25 pages
Add to cartTypes of Credit Used 
Student loan or credit cards only 
 
 
 
FAKO scores 
purchase score which are educational score 
 
 
 
Fair Credit Reporting Act FCRA 
what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights 
 
 
 
Fair and Accurate ...
Jake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the ...
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Add to cartJake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the ...
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? 
 
Pay stub 
Retirement plan statement 
List of assets 
Current lease 
Pay stub 
 
 
 
A client would like purchase a home within one year. The client is motivated to increase ho...
Preview 3 out of 27 pages
Add to cartWhich document is most important when working with a client to develop an initial budget as part of a Client Action Plan? 
 
Pay stub 
Retirement plan statement 
List of assets 
Current lease 
Pay stub 
 
 
 
A client would like purchase a home within one year. The client is motivated to increase ho...
Civil Rights Act of 1866 
Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) 
 
 
 
Fair Housing Act of 1968 
banned discrimination in the rental or sale of housing (Race, color, religion, national origin) 
 
 
 
Housing and Community Development Act of ...
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Add to cartCivil Rights Act of 1866 
Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) 
 
 
 
Fair Housing Act of 1968 
banned discrimination in the rental or sale of housing (Race, color, religion, national origin) 
 
 
 
Housing and Community Development Act of ...
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 housing ratio for renting an apartment? 
30% 
 
 
 
Eligibility requirements for down-payment assistance programs include which factors? 
...
Preview 4 out of 36 pages
Add to cartWhat 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 housing ratio for renting an apartment? 
30% 
 
 
 
Eligibility requirements for down-payment assistance programs include which factors? 
...
What act came about after the assassination of MLK? 
The Civil Rights Act of 1968 
 
 
 
A client does not receive a written monthly statement from the credit card company. Which credit law could this omission violate? 
Fair Credit Billing Act 
 
 
 
In which situation would a client's responsibili...
Preview 2 out of 12 pages
Add to cartWhat act came about after the assassination of MLK? 
The Civil Rights Act of 1968 
 
 
 
A client does not receive a written monthly statement from the credit card company. Which credit law could this omission violate? 
Fair Credit Billing Act 
 
 
 
In which situation would a client's responsibili...
All of the following are true statements about upfront costs associated with renting and buying, except; 
A. Renters generally pay a security deposit upon signing a lease. 
B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. 
C. Closing costs are ...
Preview 2 out of 7 pages
Add to cartAll of the following are true statements about upfront costs associated with renting and buying, except; 
A. Renters generally pay a security deposit upon signing a lease. 
B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. 
C. Closing costs are ...
Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? 
A. Debt to-income ratios 
B. Annual gross income 
C. Savings 
D. Options A, B, C 
E. None of the above 
D. Options A, B, and C 
 
 
 
A person or company that makes loans ...
Preview 2 out of 11 pages
Add to cartWhich factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? 
A. Debt to-income ratios 
B. Annual gross income 
C. Savings 
D. Options A, B, C 
E. None of the above 
D. Options A, B, and C 
 
 
 
A person or company that makes loans ...
Which document should the counselor review with the client to identify spending habits and track expenses? 
Bank Statement 
 
 
 
Which additional information would the housing counselor need to prepare a household budget for this client? 
Net income 
 
 
 
Which item in the client's budget is a fi...
Preview 3 out of 22 pages
Add to cartWhich document should the counselor review with the client to identify spending habits and track expenses? 
Bank Statement 
 
 
 
Which additional information would the housing counselor need to prepare a household budget for this client? 
Net income 
 
 
 
Which item in the client's budget is a fi...
The following contributed to the increase in foreclosure rates, except: 
A. Subprime lending 
B. Risky loan products with feature like negative amortization 
C. Demand from the secondary market 
D. Homeowners paying off mortgages early 
E. Using teaser rates to qualify more borrowers. 
D. Homeowners...
Preview 2 out of 12 pages
Add to cartThe following contributed to the increase in foreclosure rates, except: 
A. Subprime lending 
B. Risky loan products with feature like negative amortization 
C. Demand from the secondary market 
D. Homeowners paying off mortgages early 
E. Using teaser rates to qualify more borrowers. 
D. Homeowners...
What act are limited english proficiency persons protected under? 
title VI of the civil rights act of 1964 
 
 
 
Which act was passed in 1866? 
the civil rights act of 1866 
 
 
 
What did the civil rights act of 1866 bill declare? 
"all persons born in the United States (except American Indians)...
Preview 2 out of 7 pages
Add to cartWhat act are limited english proficiency persons protected under? 
title VI of the civil rights act of 1964 
 
 
 
Which act was passed in 1866? 
the civil rights act of 1866 
 
 
 
What did the civil rights act of 1866 bill declare? 
"all persons born in the United States (except American Indians)...
What is the purpose of the Veterans Affairs Supportive Housing (VASH) program? 
 
- To end veteran homelessness 
- To provide rental vouchers for most veterans 
- To offer veterans the same benefits as the Housing 
Choice Voucher Program 
- To help veterans obtain a VA loan 
To end veteran homelessn...
Preview 2 out of 8 pages
Add to cartWhat is the purpose of the Veterans Affairs Supportive Housing (VASH) program? 
 
- To end veteran homelessness 
- To provide rental vouchers for most veterans 
- To offer veterans the same benefits as the Housing 
Choice Voucher Program 
- To help veterans obtain a VA loan 
To end veteran homelessn...
1. Brokerage definition... 
the business practice of bringing together the parties in a practice. 
 
 
 
2. What are two examples of special use property? 
schools and cemetary 
 
 
 
3. What is an example of functional obsolescence? 
bathroom
Preview 2 out of 8 pages
Add to cart1. Brokerage definition... 
the business practice of bringing together the parties in a practice. 
 
 
 
2. What are two examples of special use property? 
schools and cemetary 
 
 
 
3. What is an example of functional obsolescence? 
bathroom
Which describes the legally enforceable terms that govern the use of real estate? 
 
- Residential security restrictions 
- Deed restrictions 
- Redlined Maps 
- Government-sponsored deeds 
Deed Restrictions 
 
 
 
Which is the practice of refusing to make residential loans or imposing more onerous ...
Preview 2 out of 9 pages
Add to cartWhich describes the legally enforceable terms that govern the use of real estate? 
 
- Residential security restrictions 
- Deed restrictions 
- Redlined Maps 
- Government-sponsored deeds 
Deed Restrictions 
 
 
 
Which is the practice of refusing to make residential loans or imposing more onerous ...
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