HCCP EXAM QUESTIONS AND ANSWERS
2026/2027 SOLVED 100% CORRECT
◉ Units that support tax credits meet the following requirements.
Answer: I- income limits
R- rent limits
S- safe and sanitary
◉ General Partner. Answer: An owner (partner) who has unlimited
liability and is active in managing the firm.
◉ Limited Partnership (LP). Answer: A partnership in which one or
more partners have limited liability as long as at least one partner (the
general partner) has unlimited liability. The limited partners are
passive investors that cannot take an active role in the firm's
management.
◉ syndicator. Answer: Facilitate the GP and LP relationship.
Syndicator combine multiple projects into a single fund, and then
offer shares in the fund to individual investors
◉ State HFAs are often called. Answer: State agencies or state
allocating agencies
, ◉ State HFA's are used by the IRS to carry out two primary functions.
Answer: The allocation of credits and compliance monitoring
◉ The ceiling on the amount that can be allocated is. Answer:
Adjusted for inflation each year and is based on a states population
◉ Allocation rules are spelled out in a. Answer: Qualified allocation
plan (QAP)
◉ Applications are scored according to the. Answer: QAP, and credits
are awarded accordingly
◉ A notable exception is reporting of non compliance to the IRS.
Answer: Using form 8823
◉ Uniform physical conditions standards (UPCS). Answer: The states
use ______ for local code for physical inspections
◉ Household income for tax credit properties is determined in a
manner consistent with. Answer: Section 8 housing rules
◉ When this document is changed by HUD. The tax credit income
and asset rules change with it. Answer: HUD handbook 4350.3
2026/2027 SOLVED 100% CORRECT
◉ Units that support tax credits meet the following requirements.
Answer: I- income limits
R- rent limits
S- safe and sanitary
◉ General Partner. Answer: An owner (partner) who has unlimited
liability and is active in managing the firm.
◉ Limited Partnership (LP). Answer: A partnership in which one or
more partners have limited liability as long as at least one partner (the
general partner) has unlimited liability. The limited partners are
passive investors that cannot take an active role in the firm's
management.
◉ syndicator. Answer: Facilitate the GP and LP relationship.
Syndicator combine multiple projects into a single fund, and then
offer shares in the fund to individual investors
◉ State HFAs are often called. Answer: State agencies or state
allocating agencies
, ◉ State HFA's are used by the IRS to carry out two primary functions.
Answer: The allocation of credits and compliance monitoring
◉ The ceiling on the amount that can be allocated is. Answer:
Adjusted for inflation each year and is based on a states population
◉ Allocation rules are spelled out in a. Answer: Qualified allocation
plan (QAP)
◉ Applications are scored according to the. Answer: QAP, and credits
are awarded accordingly
◉ A notable exception is reporting of non compliance to the IRS.
Answer: Using form 8823
◉ Uniform physical conditions standards (UPCS). Answer: The states
use ______ for local code for physical inspections
◉ Household income for tax credit properties is determined in a
manner consistent with. Answer: Section 8 housing rules
◉ When this document is changed by HUD. The tax credit income
and asset rules change with it. Answer: HUD handbook 4350.3
