Exam (elaborations)
HCV TRAINING: RENT CALCULATIONS – QUESTIONS AND COMPLETE ANSWERS
- Course
- Institution
HCV TRAINING: RENT CALCULATIONS – QUESTIONS AND COMPLETE ANSWERS
[Show more]
Content preview
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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now