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Nan McKay HCV Specialist Certification Calculations Questions With Complete Solutions
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Nan McKay HCV Specialist Certification Calculations Questions With Complete Solutions
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Nan McKay HCV Specialist Certification CalculationsQuestions With Complete Solutions
Adjusted Income Correct Answer Total Annual Income -
Allowances and Expenses Asset Income
Expected Income on 50058
Adult Full Time Students Correct Answer Include only the first
$480 of earned income in annual income.
Any financial assistance of a student residing with parents is
excluded from annual income.
Alimony & Child Support Correct Answer - PHAs may state in
policy that they will include
amounts awarded as part of a divorce or separation
agreement unless the PHA has verified that the
income is not provided.
- The PHA may also include amounts awarded unless
applicant certifies that income is not provided and
has made effort to collect amounts, including filing
with courts or appropriate agencies responsible for
enforcing such payments.
- Again, this is up to PHA policy.
Annual Income Calculation Correct Answer Income + Asset
Income
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.
Annual Income Exclusions Correct Answer Live-in Aid
Food stamps
Sporadic gifts
Heating assistance
Children income under 18
• Benefits under Section 1780 of the School Lunch Act
and Child Nutrition Act of 1966, Includes WIC
• Domestic Volunteer Services Act
Workforace Investment ACT of 1998
AmeriCorps
• Any amounts in an "individual development account as
provided by the Assets for Independence Act, as
amended in 2002
• Deferred disability benefits from the Department of
Veterans Affairs
Indian Settlements/Trusts
Spinal Bifida and Agent Orange Settlements
• Child Care and Development Block Grant Act of 1990
• Earned Income Tax Credit Refunds
Major disaster and emergency assistance
• Title V of the Older Americans Act
Crime Victim Compensation
Exclude the special pay for exposure to hostile fire.
Heating assistance
o Payments or allowances made under the Department of Health
and
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