HQS 1: Knowledge Check 2
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Question 1 of 5
1. Question
31. Melanie Samuels owned a house worth $250,000, and there was no mortgage balance. She recently sold the house to her son for $100,000. Her son paid all realtor fees and transfer costs. The PHA must:
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Question 2 of 5
2. Question
32. Danielle Prior received $3,000 in lottery winnings. She bought a car for $2,900 and spent the remaining $100 on clothes. At her next annual reexamination, what is the total cash value of her lottery winnings that is to be treated as an asset?
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Question 3 of 5
3. Question
33.When the cash value of the family’s assets is less than $5,000, the actual income from assets is used.
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Question 4 of 5
4. Question
34. The cash value of a certificate of deposit is ALWAYS equal to the balance in the account.
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Question 5 of 5
5. Question
35. The PHA- determined passbook rate is used only to determine imputed asseet income when the cash value of the family’s assets is more than $5,000.
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