Practice Test Geeks(COS) Certified Occupancy Specialist Practice Test
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Income Calculations & Rent Determination Flashcards

7 cards from real COS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Income Calculations & Rent Determination flashcards as text

  1. A household earns $18,000/year in wages and receives $3,600/year in child support. What is their annual income for HUD purposes?

    Answer: $21,600

    Child support received is included in annual income, so $18,000 + $3,600 = $21,600.

  2. When calculating income from assets over $5,000, which amount must be used if it exceeds actual income earned?

    Answer: Imputed income using the HUD passbook savings rate

    When total assets exceed $5,000, you must compare actual income to imputed income (assets × passbook rate) and use the higher figure.

  3. A family's gross rent is $900 and their Total Tenant Payment (TTP) is $650. What is the Housing Assistance Payment (HAP)?

    Answer: $250

    HAP = Gross Rent − TTP, so $900 − $650 = $250.

  4. Which of the following is EXCLUDED from annual income under HUD rules?

    Answer: Sporadic gifts totaling $500

    Sporadic or irregular gifts that are not periodic payments are excluded from annual income.

  5. A tenant's adjusted income is $12,000. Their TTP equals 30% of adjusted monthly income. What is their monthly TTP?

    Answer: $300

    30% of adjusted monthly income: $12,000 ÷ 12 = $1,000/month × 30% = $300.

  6. A household has a savings account with a current cash value of $8,000 earning $160 in actual interest. The HUD passbook rate is 2.5%. What income is used?

    Answer: $200

    Imputed income = $8,000 × 2.5% = $200, which exceeds actual $160, so $200 is used.

  7. Under HUD rules, the dependent deduction per dependent is:

    Answer: $480

    HUD allows a $480 deduction per dependent from annual income when calculating adjusted income.

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