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Quiz | Disposed Assets

assets income calculations quiz Jul 30, 2025
For many years, affordable housing has had rules that tend to discourage applicants and tenants from giving away assets that could otherwise be used to pay rent before or while living in an affordable apartment. HOTMA made some adjustments to the rules. What has changed, and what hasn't. This month's quiz tests these concepts. 
  1. Disposed assets must be counted for ______ months after they are disposed of.
  2. Cash put into a retirement account held by a family member is now disposed of, since retirement accounts are no longer counted under HOTMA. 

    True
    False

  3. When a trust is set up using family assets, the assets may or may not be disposed of, depending on who the trust is set up for. 
    True
    False

  4. Which of the following uses of family assets results in the assets being disposed of? 
    A. Buying necessary personal property
    B. Securing non-necessary personal property
    C. Charitable donations
    D. Using assets to pay for cosmetic surgery

  5. When an asset is disposed of, _______ is counted.

    A. the actual income still earned by the asset
    B. imputed asset income 

Click the image below for answers

 
 
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