1|Page
Tax Credit Specialist Exam ||, Most Recent Exam 2026
Actual Complete Real Exam Questions & Correct
Answers ||Verified Exam!!! (Verified Answers) Already
Graded A+ / Guaranteed Success!! Newest Exam!!!
The head of Household is age 65. He receives $650 per
month is Social Security benefits. How much of this is
included as annual family income? - Answers-$7800
An adult household member of a LIHTC family receives
$400/month from management for cleaning the laundry
rooms at the property. Because this is considered as a
resident service stipend by property's owners, non of it is
included as income for the family for eligibility purposes -
Answers-False
Which document is most important when working with a
client to develop an initial budget as part of a Client Action
Plan? - Answers-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
,2|Page
best solution for the client to reach this goal? - Answers-
Find a second job
A credit report may contain which information? - Answers-
The number of accounts in collection status
Six months ago a client left a job as a reporter to start a
business in the retail industry. To prepare to buy a house,
the client closed credit card accounts and has been using
savings to
pay down credit card debt and collections. The client has
not
been able to save much for a down payment with all the
debt
payments but knows about an affordable homeownership
program that only requires a 1% down payment with an
FHA
loan. What might result from the client closing the credit
card
accounts? - Answers-It increases credit utilization, causing
a negative impact on the credit
score.
, 3|Page
Which action would a client take to improve a credit
score? - Answers-Pay delinquent accounts
A client does not receive a written monthly statement from
the credit card company. Which credit law could this
omission violate? - Answers-Fair Credit Billing Act
A client shopping for a mortgage loan presents a housing
counselor with an offer from a local mortgage lender. The
interest rate on the offer is 7.5% for a 30-year fixed rate
mortgage with a 20% down payment required. The
counselor reviews the client file and determines the client's
credit score is 725 and the client's total debt-to-income
ratio is 20%. - Answers-"I am unable to determine whether
the loan is predatory, but I suggest you shop around with
other lending sources."
Which action should a counselor recommend a client take
first after discovering identity theft? - Answers-File an
identity theft report
Tax Credit Specialist Exam ||, Most Recent Exam 2026
Actual Complete Real Exam Questions & Correct
Answers ||Verified Exam!!! (Verified Answers) Already
Graded A+ / Guaranteed Success!! Newest Exam!!!
The head of Household is age 65. He receives $650 per
month is Social Security benefits. How much of this is
included as annual family income? - Answers-$7800
An adult household member of a LIHTC family receives
$400/month from management for cleaning the laundry
rooms at the property. Because this is considered as a
resident service stipend by property's owners, non of it is
included as income for the family for eligibility purposes -
Answers-False
Which document is most important when working with a
client to develop an initial budget as part of a Client Action
Plan? - Answers-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
,2|Page
best solution for the client to reach this goal? - Answers-
Find a second job
A credit report may contain which information? - Answers-
The number of accounts in collection status
Six months ago a client left a job as a reporter to start a
business in the retail industry. To prepare to buy a house,
the client closed credit card accounts and has been using
savings to
pay down credit card debt and collections. The client has
not
been able to save much for a down payment with all the
debt
payments but knows about an affordable homeownership
program that only requires a 1% down payment with an
FHA
loan. What might result from the client closing the credit
card
accounts? - Answers-It increases credit utilization, causing
a negative impact on the credit
score.
, 3|Page
Which action would a client take to improve a credit
score? - Answers-Pay delinquent accounts
A client does not receive a written monthly statement from
the credit card company. Which credit law could this
omission violate? - Answers-Fair Credit Billing Act
A client shopping for a mortgage loan presents a housing
counselor with an offer from a local mortgage lender. The
interest rate on the offer is 7.5% for a 30-year fixed rate
mortgage with a 20% down payment required. The
counselor reviews the client file and determines the client's
credit score is 725 and the client's total debt-to-income
ratio is 20%. - Answers-"I am unable to determine whether
the loan is predatory, but I suggest you shop around with
other lending sources."
Which action should a counselor recommend a client take
first after discovering identity theft? - Answers-File an
identity theft report
