Question 1

According to the U.S. Federal government, what is affordable housing?

Accepted Answer

Housing is affordable if it costs no more than 30% of a households monthly income.

Answer

Housing is affordable if it costs no more than 60% of a households monthly income.

Answer

Housing is affordable if it costs no more than 50% of a households monthly income.

Answer

Housing is affordable if it costs no more than 40% of a households monthly income.

Question 2

What does the acronym NNPP mean?

Accepted Answer

Non-Necessary Personal Property

Answer

New and Necessary Personal Property

Answer

New Necessary People's Party

Answer

Non-Necessary Personal Propriety

Question 3

Which is not an example of NNPP?

Accepted Answer

Laptop for School

Answer

Saving Account

Answer

Jewelry

Answer

Checking Account

Question 4

What does the acronym NPP mean?

Accepted Answer

Necessary Personal Property

Answer

Necessary Public Proprietary

Answer

New Private Property

Answer

New Personal Property

Question 5

Which is not an example of NPP?

Accepted Answer

Boat

Answer

A laptop for school

Answer

Car to get to work

Answer

An expensive medical device

Question 6

What does HOTMA stand for?

Accepted Answer

Housing Opportunities Through Modernization Act

Answer

House on the Main Apartment

Answer

Housing Optimal Threshold Management Act

Answer

Household Opportunities Through Modern Applicant

Question 7

Under HOTMA, what is the threshold for calculating imputed income and actual income from assets?

Accepted Answer

If the total cash value (net value) of all assets is greater than $50,000, impute any income where the actual income from assets is unknown and add any actual income to get the total income from assets.

Answer

If the total cash value (net value) of all assets is greater than $100,000, impute any income where the actual income from assets is unknown and add any actual income to get the total income from assets.

Answer

If the total cash value (net value) of all assets is less than $50,000, impute any income where the actual income from assets is unknown and add any actual income to get the total income from assets.

Answer

If the total cash value (net value) of all assets is less than $100,000, impute any income where the actual income from assets is unknown and add any actual income to get the total income from assets.

Question 8

Where can properties see the certifications or unit information processed by TRACS?

Accepted Answer

TRACS secure sign-in

Answer

IRS website

Answer

OneSite

Answer

Unified Platform

Question 9

What document provides the layout for TRACS files?

Accepted Answer

The HUD MAT Guide

Answer

FSS/MTW

Answer

EIV Reports

Answer

The HOTMA Guide

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