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October 1 Quizzle

Question 1

Georgia Smith, an applicant for The Boulders, discloses and provides account numbers for 2 checking accounts and 1 savings account. When reviewing the returned verifications, the manager notices that one of the checking accounts includes the name of the applicant’s 85-year old mom. Should the manager only count 50% ownership of the account that includes the mom?

Answer: No. For purposes of determining ownership of an account, other factors than just a name must be clarified to determine ownership. For example, adult children may be included on a parent’s checking account for survivorship reasons.


Question 2

Mona lives in a tax credit unit with her two dependent sons, Chuck and Phil. Chuck is 21 and a full-time student and Phil is 16 and in high school. Mona's husband, Greg, died 5 years ago. Phil has a paper route and earned $500 a month. How much of this income will be counted?

A. $0
B. $480 per month
C. $480 per year
D. $500 per month

Answer: A. $0


Question 3

The Fair Housing Act’s official name is __________ of the Civil Rights Act of __________.

A. Title III/1964
B. Part B/1968
C. Title VIII/1968
D. Title VIII/1964

Answer: C. Title VIII/1968

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