Answers to Need Analysis Sample Test

All tests will include a combination of multiple-choice and scenario-based questions. The following examples are similar in structure and scope to the questions that will appear on the test for this topic.

1. If a dependent student qualifies for the maximum Pell Grant  then __________ assets will count toward the SAI.

    • only student
    • only parent
    • CORRECT: neither student nor parent
    • both student and parent

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2. A 26-year-old student completes the FAFSA. Her total income is $26,000, she filed an IRS Form 1040 without schedules, and she is not married and has no children. Her parents’ income is $75,000 and they completed an IRS Form 1040 with Schedule A. Which formula will be used to calculate this student’s SAI?

    • Formula A
    • CORRECT: Formula B
    • Formula C
    • Formula D

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3. You receive an ISIR for a dependent student listing one parent’s information.  The parent has a negative adjusted available income and a net worth of $2,012, and the student filed an IRS 1040 with adjusted gross income of $17,250. Subsequently, you approve a dependency override appeal for the student. The SAI on the new ISIR, which reflects the student’s independent status, is higher than the original SAI when the student was dependent. What is the most likely explanation for why the SAI increased?

    • The student has a lower income protection allowance with Formula B than with Formula A
    • The student has a lower payroll tax allowance with Formula B than with Formula A
    • The student no longer qualifies for a maximum Pell Grant
    • CORRECT: The student’s income is no longer reduced by the parent’s negative adjusted available income

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Publication Date: 3/11/2024

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