Hud practice exam 2024 - Study guides, Class notes & Summaries

Mckissock Basic Appraisal Principles Exam Questions and Answers Latest Update 2024/2025 Graded A+. grant deed - ANSWER deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - ANSWER One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - ANSWER any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authori...

Mckissock Basic Appraisal Principles Exam Questions and Answers Latest Update 2024/2025 | Graded A+. Appraiser - ANSWER One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - ANSWER any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of an assignment. narrative report - ANSWER A written communication of the r...

Who is responsible for most of the regulatory administration of the Low-Income Housing Tax Credit Programs? Internal Revenue Service (IRS) The initial Compliance Period for LIHTC properties combined with the Extended Use Period must be for a minimum period of affordability at: 30 years The LIHTC regulations required that HUD guidance for properly identifying and calculating income and assets be followed according to: HUD Handbook 4350.3 REV-1 Use of HUD's Enterprise Income Veri...

HUD 2024 Practice Exam/135 Questions and Answers

Mckissock basic appraisal principles Exam Questions With Verified Answers Grant deed - answerdeed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - answerOne who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - answerany communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon com...

Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - correct 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 for a loan. Which is the best solution for the client to reach this goal? - correct answer Find a second job A credit report may contain which information? - correct answer The number of a...

Hud Certification Final Exam (Questions And Answers) 2024 Deed Restrictions - CORRECT ANSWER-Legally enforceable terms that govern the use of real estate Redlining - CORRECT ANSWER-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 of the area's residents. Civil Rights Act of 1968 - CORRECT ANSWER-Following the assassination of Dr. ...

A client, who is a divorced local school teacher, is interested in purchasing his first home. He wishes to stay in the same neighborhood where he now lives and to purchase a home in the low-$100,000 range. He currently leases a car for $435 a month and would like to buy a new car. The client has a lease on an apartment with his college friend. Their monthly rent on the apartment, which they split evenly, is $1,100. He has been working as a teacher for five years and earns $50,000 a year. His div...

Lead Abatement Supervisor (2024/2025) EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS || ALREADY GRADED A+ <LATEST VERSION> Define "Occupant protection plan". - ANSWER A written plan developed prior to a lead hazard reduction activity that describes the measures that will be taken to protect the building occupants from exposure to lead-based paint hazards. After project completion, the project file should be kept for how long according to the DHS? - ANSWER Three years De...

2024 Hud Final Exam Prep (Questions And Answers) Types of Credit Used - CORRECT ANSWER-Student loan or credit cards only FAKO scores - CORRECT ANSWER-purchase score which are educational score Fair Credit Reporting Act FCRA - CORRECT ANSWER-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 Credit Transactions Act FACTA - CORRECT ANSWER-free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA...