Housing Counselor Exam - Pre Assessment Questions With
Complete Solutions.
Which is an eligibility factor for the Earned Income Tax Credit?
Receiving wages
Which situation most likely indicates a loan modification scam?
The client receives a letter from a company guaranteeing a loan modification
Which was instituted by Congress to better protect homebuyers following the
most recent housing crisis
Consumer Finance Protection Bureau
121 Which is an example of a change enacted by Consumer Finance Protection
Bureau (CFPB) that would help a client prepare for the mortgage loan process?
Easier-to-use mortgage disclosure forms that clearly outline the terms of a mortgage to
the borrower
Which initiative encourages recipients of HUD program funding to advocate that
lenders operate in underserved areas
Affirmatively Furthering Fair Housing
Which action taken by a housing counseling agency would affi rmatively further
fair housing
Create an outreach campaign designed to raise awareness about critical housing topics
Affirmatively Furthering Fair Housing
Affirmatively furthering fair housing focuses on education and prevention, not reacting to
violations. The most appropriate activity is to create a targeted outreach campaign.
Reporting potential violations is a responsive action, not an a ffirmative action.
Discouraging clients from leasing with certain landlords could create the appearance of
steering and should be avoided. Housing counselors should empower clients to
recognize potential violations and protect their fair housing rights so they can view
properties on their own.
Which satisfies a housing counseling agency's requirement to A ffi rmatively
Further Fair Housing
Reviewing marketing materials of local mortgage lenders
Which Affi rmatively Furthering Fair Housing action might benefit a client
Conduct educational initiatives to inform people about fair housing obligations
Which disposition option typically applies to a manufactured home on leased
land when the borrower is in default
Replevin
Which is the most likely consequence of a short sale
The forgiven mortgage deficiency may be treated as taxable income
Means Test
A means test is a bankruptcy qualification that considers income and equity in assets to
determine if a client has the ability to repay part of the debt.
Which is the first step in the loss mitigation submission process
Determine the reason the client is behind on mortgage payments
Which is the best advice a housing counselor should give the client about an
emergency preparedness plan
, Encourage involvement of the entire family
Which is an appropriate feature of a safe room
Few or no windows
Which is an important characteristic of an emergency point of contact when
creating an Emergency Preparedness Plan
Lives outside the immediate area
During a party at the client's apartment, a friend stumbles over a hoodie and falls
down the stairs, crashing into the client. The friend breaks his leg and the client
drops his cell phone, breaking it. Which
feature of renter's insurance is most relevant to this incident
Personal liability coverage could protect the client from related legal action
Which document should the counselor review with the client to identify spending
habits and track expenses
Bank statement
Which expense is generally considered to be a "want" as opposed to a "need
Cable
What is the maximum percent of area median income allowable for a household
to qualify for a Housing Choice Voucher
50%
Which is the maximum recommended front-end ratio (or housing ratio) for renting
an apartment
30%
How should a client apply for the Housing Choice Voucher Program?
Contact the local Public Housing Authority
Which website provides information on programs to assist homebuyers with
down payment assistance
HUD.gov
In order to minimize the impact on a client's credit score, what is the maximum
time frame within which the client should apply for pre-approval from multiple
lenders
A 30-day period
Which is a responsibility of a housing couselor
Educate homebuyers about their rights
Which type of loan product can be used to finance the purchase of a
manufactured home on leased land
FHA Title I
Financing options for the purchase of a manufactured home depend on which
factor
Land property interest
Which is a responsibility of a home inspector
Evaluate the condition of a home
Examine mechanical systems
Identify items to be repaired or replaced
Which is the best advice that a housing counselor can give the client to protect
against identity theft
Review credit report at least once per year
Complete Solutions.
Which is an eligibility factor for the Earned Income Tax Credit?
Receiving wages
Which situation most likely indicates a loan modification scam?
The client receives a letter from a company guaranteeing a loan modification
Which was instituted by Congress to better protect homebuyers following the
most recent housing crisis
Consumer Finance Protection Bureau
121 Which is an example of a change enacted by Consumer Finance Protection
Bureau (CFPB) that would help a client prepare for the mortgage loan process?
Easier-to-use mortgage disclosure forms that clearly outline the terms of a mortgage to
the borrower
Which initiative encourages recipients of HUD program funding to advocate that
lenders operate in underserved areas
Affirmatively Furthering Fair Housing
Which action taken by a housing counseling agency would affi rmatively further
fair housing
Create an outreach campaign designed to raise awareness about critical housing topics
Affirmatively Furthering Fair Housing
Affirmatively furthering fair housing focuses on education and prevention, not reacting to
violations. The most appropriate activity is to create a targeted outreach campaign.
Reporting potential violations is a responsive action, not an a ffirmative action.
Discouraging clients from leasing with certain landlords could create the appearance of
steering and should be avoided. Housing counselors should empower clients to
recognize potential violations and protect their fair housing rights so they can view
properties on their own.
Which satisfies a housing counseling agency's requirement to A ffi rmatively
Further Fair Housing
Reviewing marketing materials of local mortgage lenders
Which Affi rmatively Furthering Fair Housing action might benefit a client
Conduct educational initiatives to inform people about fair housing obligations
Which disposition option typically applies to a manufactured home on leased
land when the borrower is in default
Replevin
Which is the most likely consequence of a short sale
The forgiven mortgage deficiency may be treated as taxable income
Means Test
A means test is a bankruptcy qualification that considers income and equity in assets to
determine if a client has the ability to repay part of the debt.
Which is the first step in the loss mitigation submission process
Determine the reason the client is behind on mortgage payments
Which is the best advice a housing counselor should give the client about an
emergency preparedness plan
, Encourage involvement of the entire family
Which is an appropriate feature of a safe room
Few or no windows
Which is an important characteristic of an emergency point of contact when
creating an Emergency Preparedness Plan
Lives outside the immediate area
During a party at the client's apartment, a friend stumbles over a hoodie and falls
down the stairs, crashing into the client. The friend breaks his leg and the client
drops his cell phone, breaking it. Which
feature of renter's insurance is most relevant to this incident
Personal liability coverage could protect the client from related legal action
Which document should the counselor review with the client to identify spending
habits and track expenses
Bank statement
Which expense is generally considered to be a "want" as opposed to a "need
Cable
What is the maximum percent of area median income allowable for a household
to qualify for a Housing Choice Voucher
50%
Which is the maximum recommended front-end ratio (or housing ratio) for renting
an apartment
30%
How should a client apply for the Housing Choice Voucher Program?
Contact the local Public Housing Authority
Which website provides information on programs to assist homebuyers with
down payment assistance
HUD.gov
In order to minimize the impact on a client's credit score, what is the maximum
time frame within which the client should apply for pre-approval from multiple
lenders
A 30-day period
Which is a responsibility of a housing couselor
Educate homebuyers about their rights
Which type of loan product can be used to finance the purchase of a
manufactured home on leased land
FHA Title I
Financing options for the purchase of a manufactured home depend on which
factor
Land property interest
Which is a responsibility of a home inspector
Evaluate the condition of a home
Examine mechanical systems
Identify items to be repaired or replaced
Which is the best advice that a housing counselor can give the client to protect
against identity theft
Review credit report at least once per year
