HCCP Exam Questions and Correct Answers

HCCP Exam Questions and Correct
Answers.


Fair Housing - How many Protected Classes Answer - 7 Federal Protected Classes

What are the Federally Protected Classes Answer - Race, Color, Religion, Sex, National
Orgin, Disability and Familial Status

Private Letter Ruling Answer - Ruling made directly with the owner but cannot be
changed

Private Letter Ruling Answer - Cannot be cited as precedent

HERA Answer - Housing andEconomic Recovery Acts

What year does HERA start Answer - 2008

When did LIHTC Start Answer - 1986 - 10/22/1986

To Retain credits, a development must: Answer - 1. Rent to Qualified Households
2. Keep Rents Affordable
3. Keep property Decent, Safe and Sanitary

I - R - S cheat meaning Answer - I - Income
R - Rents
S - Safe and Sanitary

General Partner Answer - Considered the Owner but can also be the Management
Company

Limited Partner Answer - Provides GP with money to build

Syndicator Answer - Middle Man - communicates between GP and LP

What are other names for HFA - State Housing Finance Agency Answer - 1. State
Agency
2. Allocating Agency
3. Finance Agency

What is a QAP Answer - Qualified Allocation Plan