HUD Certification Questions and
Answers 100% Pass
Which document is most important when working with a client to develop an initial budget as
part of a Client Action Plan?
Pay stub
Retirement plan statement
List of
...
HUD Certification Questions and
Answers 100% Pass
Which document is most important when working with a client to develop an initial budget as
part of a Client Action Plan?
Pay stub
Retirement plan statement
List of assets
Current lease ✔✔Pay stub
A client would like purchase a home within one year. The client is motivated to increase
household income as a way to save for a down payment and qualify for a loan. Which is the best
solution for the client to reach this goal?
Find a second job
Borrow from retirement fund
Sell major assets
Find a temporary job through a staffing service ✔✔Find a second job
A credit report may contain which information?
The number of accounts in collection status
A history of payments on an electric bill
Income history
Criminal record ✔✔The number of accounts in collection status
A credit report contains inaccurate information. Which action item should the counselor include
in the Client Action Plan?
-Attach a letter to mortgage applications explaining the inaccuracies.
-Investigate the reasons why the inaccuracies occurred to determine the responsible party.
-Include a personal consumer statement on the credit report.
-File a dispute with the appropriate credit reporting agency. ✔✔File a dispute with the
appropriate credit reporting agency.
Six months ago a client left a job as a reporter to start a business in the retail industry. To prepare
to buy a house, the client closed credit card accounts and has been using savings to pay down
credit card debt and collections. The client has not been able to save much for a down payment
with all the debt payments but knows about an affordable home-ownership program that only
requires a 1% down payment with an FHA loan.
What might result from the client closing the credit card accounts?
-It decreases credit utilization, causing a negative impact on the credit score.
-It increases credit utilization, causing a negative impact on the credit score.
-It increases credit utilization, causing a positive impact on the credit score.
-It decreases credit utilization, causing a positive
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