HUD Housing Counselor Certification Practice/HUD Practice Test and Correct Answers/HUD Housing Exam/Housing Counselor Exam - Pre Assessment/HUD Practice Exam/HUD Exam - Fair Housing./HUD EXAM - HOUSING AFFORDABILITY/HUD Exam - Financial Management/HUD Exa

Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - Answer- 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...

Which document should the counselor review with the client to identify spending habits and track expenses: - Answer- Bank statement Which additional information would the housing counselor need to prepare a household budget for this client? - Answer- Net income Which item in the client's budg...

Which is an eligibility factor for the Earned Income Tax Credit? - Answer- Receiving wages Which situation most likely indicates a loan modification scam? - Answer- The client receives a letter from a company guaranteeing a loan modification Which was instituted by Congress to better protect...

What act came about after the assassination of MLK? - Answer- 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? - Answer- Fair Credit Billing Act In which situation would a client's re...

Which describes the legally enforceable terms that govern the use of real estate? A. Residential security restrictions B. Deed restrictions C. Redlined Maps Government-sponsored deeds - Answer- B. Deed Restrictions -Deed restrictions are legally enforceable terms that govern the use of real est...

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...

All of the following would help a counselor develop a realistic household budget, except: A. Payment information for a paid-off car B. Amount spent on groceries C. Rent payment information D. Monthly cable bill - Answer- Answer: A Since the car is paid off, the expense does not need to be inclu...

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. - Answer- D. ...

What act are limited english proficiency persons protected under? - Answer- title VI of the civil rights act of 1964 Which act was passed in 1866? - Answer- the civil rights act of 1866 What did the civil rights act of 1866 bill declare? - Answer- "all persons born in the United States (excep...

A potential homebuyer with a minimal savings for a down payment and a low credit score is most likely to qualify for which mortgage? - United States Department of Agriculture (USDA) - Federal Housing Administration (FHA) - Fannie Mae - Freddie Mac - Answer- Federal Housing Administration (FHA)...