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HUD HOUSING COUNSELING CERTIFICATION EXAM 2024
HUD HOUSING COUNSELING CERTIFICATION EXAM 2024
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Voorbeeld 3 van de 16 pagina's
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Voorbeeld van de inhoud
HUD HOUSING COUNSELINGCERTIFICATION EXAM 2024
Which document should the counselor review with the client to
identify spending habits and track expenses?
A. Credit report
B. Pay stubs
C. Bank Statement
D. Tax returns Correct Answer Bank Statement
Which additional information would the housing counselor need
to prepare a household budget for this client?
A. Net Income
B. Lease Documentation
C. Credit Score
D. Bankruptcy Discharge Correct Answer Net Income
Which item in the client's budget is a fixed expense?
A. Food
B. Gasoline
C. Car Lease Payment
D. Utilities Correct Answer Car Lease Payment
What is the maximum percent of area median income allowable
for household to qualify for a Housing Choice Voucher? Correct
Answer 50%
Which is the the maximum recommended housing ratio for
renting an apartment? Correct Answer 30%
,Eligibility requirements for downpayment assistance programs
include which factors? Correct Answer Income, homebuyer
education, purchase price
The client is considering an FHA mortgage. What is the upfront
mortgage premium (UFMIP) for a FHA mortgage? Correct
Answer 1.75%
The client decides to purchase a townhouse through a down
payment assistance program with a recapture clause. Three
years later, the client remarries, and his wife owns a single
family home. Which situation might cause accelerated loan
payment?
A. Client moves to his wife's home and the townhouse loan is
assumed by an eligible buyer.
B. Client's wife moves into the townhouse.
C. Client moves to his wife's home and rents his townhouse to
a tenant. Correct Answer Client moves to his wife's home and
rents his townhouse to a tenant
If a client was denied a mortgage loan and the lender told him
to come back after his divorce has been final for three years,
what is the best advice for the housing counselor to provide to
the client?
A. Contact the FTC as the lender's action might violate the
Equal Credit Opportunity Act.
B. Contact the local fair housing center as the lender's action
might violate the Fair Housing Act. Correct Answer Contact the
FTC as the lender's action might violate the Equal Credit
Opportunity Act
A question from a lender on which topic would be
inappropriate? Correct Answer Medical History
, What is the responsibility of a housing counselor? Correct
Answer Educate homebuyers about their rights.
In order to minimize the impact on the client's credit score, what
is the maximum time frame within which the client should apply
for pre-approval from multiple lenders? Correct Answer A 30-
day period
Which is a responsibility of a home inspector? Correct Answer
Evaluate the condition of a home, examine mechanical
systems, identify items to be repaired or replaced.
Which is the best reason that a housing counselor would
suggest that a client speak to three to five different lenders
before choosing one? Correct Answer So the client can
compare loan estimates
Which is the best advice that a housing counselor can give the
client to protect against identity theft? Correct Answer Review
credit report at least once per year
The client tells the lender that he is expecting a raise soon.
Which action should the lender take? Correct Answer Provide a
loan estimate without factoring in the raise
If the client obtains a mortage of $100,000, typically, how much
should he expect to pay for closing costs?
A. $400
B. $12,000
C. $4,000
D. $1,000 Correct Answer $4,000
The client is considering renting an apartment with a different
landlord. Which would be an upfront cost of moving to a new
apartment?
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