Nan McKay HCV Specialist Certification Calculations exam questions and correct answers 2026/2027

Nan McKay HCV Specialist Certification Calculations exam questions and correct answers 2026/2027 Annual Income Calculation Income + Asset Income Adjusted Income Total Annual Income - Allowances and Expenses Asset Income Expected Income on 50058 Annual Income Definition 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. Imputed Something we are acting like it's happening in our calculations but it's not. Sanctioned Reduced or terminated benefits. TTP Total Tenant Payment the highest of the following amounts, rounded to the nearest dollar: - In non-as-paid states: • 30% of family's monthly adjusted income • 10% of family's monthly income • PHA's minimum rent ($0 - $50 depending on PHA policy) - In as-paid states: • 30% of family's monthly adjusted income • 10% of family's monthly income • PHA's minimum rent ($0 - $50 depending on PHA policy), or • Welfare rent - That part of welfare assistance received from a public agency, specifically designated by that agency to meet the family's actual housing costs. Earned to Annual Income Calculations