COS COS File Documentation & Recertification Procedures 2

Question 1

Which income verification method is considered least preferred in the HUD verification hierarchy?

Accepted Answer

Tenant self-certification

Answer

Tenant self-certification is the least preferred verification method and should only be used when no other verification option is available.

Question 2

When household net family assets exceed $5,000, what additional calculation must the owner perform?

Accepted Answer

Calculate imputed income using the HUD passbook savings rate

Answer

When total net family assets exceed $5,000, owners must calculate imputed income by applying the HUD passbook savings rate to the total asset value and use the greater of actual or imputed income.

Question 3

What is the purpose of the EIV Existing Tenant Search function?

Accepted Answer

To identify if an applicant is already receiving HUD rental assistance at another property

Answer

The EIV Existing Tenant Search determines whether an applicant is currently receiving HUD rental assistance at another property before approving new assistance.

Question 4

What documentation must be in a tenant's file to support a claimed medical expense deduction?

Accepted Answer

A doctor's bill, prescription, or insurance statement verifying the expense

Answer

Medical expense deductions must be supported by third-party documentation such as a doctor's bill, prescription, or insurance statement verifying the legitimacy of the expense.

Question 5

In Section 8 programs, how is Tenant Rent (TR) calculated?

Accepted Answer

Total Tenant Payment minus the Utility Allowance

Answer

Tenant Rent equals Total Tenant Payment (TTP) minus the Utility Allowance, representing the amount the tenant pays directly to the owner.

(COS) Certified Occupancy Specialist Practice Test

(COS) Certified Occupancy Specialist Practice Test

COS COS File Documentation & Recertification Procedures 2