HCCP Exams Questions And Answers
Fair gHousing g- gHow gmany gProtected gClasses g- g(CORRECT gANSWER)-7 gFederal
gProtected gClasses
What gare gthe gFederally gProtected gClasses g- g(CORRECT gANSWER)-Race, gColor,
gReligion, gSex, gNational gOrgin, gDisability gand gFamilial gStatus
Private gLetter gRuling g- g(CORRECT gANSWER)-Ruling gmade gdirectly gwith gthe gowner gbut
gcannot gbe gchanged
Private gLetter gRuling g- g(CORRECT gANSWER)-Cannot gbe gcited gas gprecedent
HERA g- g(CORRECT gANSWER)-Housing gandEconomic gRecovery gActs
What gyear gdoes gHERA gstart g- g(CORRECT gANSWER)-2008
When gdid gLIHTC gStart g- g(CORRECT gANSWER)-1986 g- g10/22/1986
To gRetain gcredits, ga gdevelopment gmust: g- g(CORRECT gANSWER)-1. gRent gto gQualified
gHouseholds
2. gKeep gRents gAffordable
3. gKeep gproperty gDecent, gSafe gand gSanitary
I g- gR g- gS gcheat gmeaning g- g(CORRECT gANSWER)-I g- gIncome
R g- gRents g
S g- gSafe gand gSanitary
General gPartner g- g(CORRECT gANSWER)-Considered gthe gOwner gbut gcan galso gbe gthe
gManagement gCompany
Limited gPartner g- g(CORRECT gANSWER)-Provides gGP gwith gmoney gto gbuild
Syndicator g- g(CORRECT gANSWER)-Middle gMan g- gcommunicates gbetween gGP gand gLP
What gare gother gnames gfor gHFA g- gState gHousing gFinance gAgency g- g(CORRECT
gANSWER)-1. gState gAgency
2. gAllocating gAgency
3. gFinance gAgency
What gis ga gQAP g- g(CORRECT gANSWER)-Qualified gAllocation gPlan
, What gis gQAP galso gKnown gAs g- g(CORRECT gANSWER)-Game gPlan
What gis gthe gGame gPlan g- g(CORRECT gANSWER)-QAP g- gQualified gAllocation gPlan
What gis gQAP gfor? g- g(CORRECT gANSWER)-Used gby gthe gstates gto gdecide gwho ggets
gcredits gusing gthe gscoring gsystem
What gis gform g8823 g- g(CORRECT gANSWER)-Form gused gby gthe gstate gagency gto gfile gnon
gcompliance gto gthe gIRS
Who gfiles g8823? g- g(CORRECT gANSWER)-State gAgency
What gis g8823 gGuide gbook g- g(CORRECT gANSWER)-Provides gagency's gwith greference
gon ghow gto gcomplete gform g8823
What gis gLURA? g- g(CORRECT gANSWER)-Land gUse gRestriction gAgreement
LURA gAka... g- g(CORRECT gANSWER)-1. gUse gAgreement
2. gRegulatory gAgreement
What gis gform g8610? g- g(CORRECT gANSWER)-State gturns ginto gthe gIRS g(along gwith
g8609) gthe gfirst gyear gto gaccount gfor gtheir gallocating gand gmonitoring gduties
What gis gform g8609? g- g(CORRECT gANSWER)-The gOfficial gallocation gof gcredits gfrom gthe
gstate gfor geach gbulding
Line g8b gon g8609 g- g(CORRECT gANSWER)-Indicates gif gthe gbuilding gis gpart gof ga gmulti-
building gproject
Line g10d gon gthe g8609 g- g(CORRECT gANSWER)-Deep gRent gSkewed
Line g10c gon g8609 g- g(CORRECT gANSWER)-Minimum gset-aside
Line g7 gon g8609 g- g(CORRECT gANSWER)-Eligible gBasis
Line g8a gon g8609 g- g(CORRECT gANSWER)-Qualified gBasis
Applicable gFraction g- g(CORRECT gANSWER)-The gPercentage gof gthe gunits gthat gare gTax
gCredit
How glong gdo gyou ghave gto gimplement gIncome gLimit? g- g(CORRECT gANSWER)-Must gbe
gimplemented gwithin g45 gdays gof grelease gdate
MTSP? g- g(CORRECT gANSWER)-Multi-Family gTax gSubsidy gProgram
Fair gHousing g- gHow gmany gProtected gClasses g- g(CORRECT gANSWER)-7 gFederal
gProtected gClasses
What gare gthe gFederally gProtected gClasses g- g(CORRECT gANSWER)-Race, gColor,
gReligion, gSex, gNational gOrgin, gDisability gand gFamilial gStatus
Private gLetter gRuling g- g(CORRECT gANSWER)-Ruling gmade gdirectly gwith gthe gowner gbut
gcannot gbe gchanged
Private gLetter gRuling g- g(CORRECT gANSWER)-Cannot gbe gcited gas gprecedent
HERA g- g(CORRECT gANSWER)-Housing gandEconomic gRecovery gActs
What gyear gdoes gHERA gstart g- g(CORRECT gANSWER)-2008
When gdid gLIHTC gStart g- g(CORRECT gANSWER)-1986 g- g10/22/1986
To gRetain gcredits, ga gdevelopment gmust: g- g(CORRECT gANSWER)-1. gRent gto gQualified
gHouseholds
2. gKeep gRents gAffordable
3. gKeep gproperty gDecent, gSafe gand gSanitary
I g- gR g- gS gcheat gmeaning g- g(CORRECT gANSWER)-I g- gIncome
R g- gRents g
S g- gSafe gand gSanitary
General gPartner g- g(CORRECT gANSWER)-Considered gthe gOwner gbut gcan galso gbe gthe
gManagement gCompany
Limited gPartner g- g(CORRECT gANSWER)-Provides gGP gwith gmoney gto gbuild
Syndicator g- g(CORRECT gANSWER)-Middle gMan g- gcommunicates gbetween gGP gand gLP
What gare gother gnames gfor gHFA g- gState gHousing gFinance gAgency g- g(CORRECT
gANSWER)-1. gState gAgency
2. gAllocating gAgency
3. gFinance gAgency
What gis ga gQAP g- g(CORRECT gANSWER)-Qualified gAllocation gPlan
, What gis gQAP galso gKnown gAs g- g(CORRECT gANSWER)-Game gPlan
What gis gthe gGame gPlan g- g(CORRECT gANSWER)-QAP g- gQualified gAllocation gPlan
What gis gQAP gfor? g- g(CORRECT gANSWER)-Used gby gthe gstates gto gdecide gwho ggets
gcredits gusing gthe gscoring gsystem
What gis gform g8823 g- g(CORRECT gANSWER)-Form gused gby gthe gstate gagency gto gfile gnon
gcompliance gto gthe gIRS
Who gfiles g8823? g- g(CORRECT gANSWER)-State gAgency
What gis g8823 gGuide gbook g- g(CORRECT gANSWER)-Provides gagency's gwith greference
gon ghow gto gcomplete gform g8823
What gis gLURA? g- g(CORRECT gANSWER)-Land gUse gRestriction gAgreement
LURA gAka... g- g(CORRECT gANSWER)-1. gUse gAgreement
2. gRegulatory gAgreement
What gis gform g8610? g- g(CORRECT gANSWER)-State gturns ginto gthe gIRS g(along gwith
g8609) gthe gfirst gyear gto gaccount gfor gtheir gallocating gand gmonitoring gduties
What gis gform g8609? g- g(CORRECT gANSWER)-The gOfficial gallocation gof gcredits gfrom gthe
gstate gfor geach gbulding
Line g8b gon g8609 g- g(CORRECT gANSWER)-Indicates gif gthe gbuilding gis gpart gof ga gmulti-
building gproject
Line g10d gon gthe g8609 g- g(CORRECT gANSWER)-Deep gRent gSkewed
Line g10c gon g8609 g- g(CORRECT gANSWER)-Minimum gset-aside
Line g7 gon g8609 g- g(CORRECT gANSWER)-Eligible gBasis
Line g8a gon g8609 g- g(CORRECT gANSWER)-Qualified gBasis
Applicable gFraction g- g(CORRECT gANSWER)-The gPercentage gof gthe gunits gthat gare gTax
gCredit
How glong gdo gyou ghave gto gimplement gIncome gLimit? g- g(CORRECT gANSWER)-Must gbe
gimplemented gwithin g45 gdays gof grelease gdate
MTSP? g- g(CORRECT gANSWER)-Multi-Family gTax gSubsidy gProgram
