HCCP EXAM
The ceiling on the amount that can be allocated is - ANSWERS-Adjusted for
inflation each year and is based on a states population
Allocation rules are spelled out in a - ANSWERS-Qualified allocation plan (QAP)
Applications are scored according to the - ANSWERS-QAP, and credits are
awarded accordingly
A notable exception is reporting of non compliance to the IRS - ANSWERS-Using
form 8823
Uniform physical conditions standards (UPCS) - ANSWERS-The states use
______ for local code for physical inspections
Household income for tax credit properties is determined in a manner
consistent with - ANSWERS-Section 8 housing rules
When this document is changed by HUD. The tax credit income and asset rules
change with it - ANSWERS-HUD handbook 4350.3
A tenant income certification and supporting documentation are not sufficient
unless, at minimum the following documents are included - ANSWERS-1.
Household application/income and asset questionnaire
2. Verification of income and assets
3. Student status
, 4. Tenant income certification (TIC)
Student status exemptions - ANSWERS-1. All adult household members are
married and entitled to file a joint tax return
2. All adult household members are single parents with minor children
3. A household member receives TANF
4. A household member formerly received foster care assistance
5. A household member gets assistance from the JTPA or SIMILAR program
Student status must be verified at - ANSWERS-Move in and annually
Who do we count in the house hold? - ANSWERS-Children who are Temporarily
absent and placed in foster home
In joint custody who are present 50% of time
Away at school who live with family during school breaks
Being adopted
Unborn
Members temporarily away
Members in rehab
Future spouse or roommate
Foster children and adults
Who do we NOT include - ANSWERS-Live in attendants
Define a live in attendant - ANSWERS-A person who resides with one or more
elderly persons or persons with disabilities
The ceiling on the amount that can be allocated is - ANSWERS-Adjusted for
inflation each year and is based on a states population
Allocation rules are spelled out in a - ANSWERS-Qualified allocation plan (QAP)
Applications are scored according to the - ANSWERS-QAP, and credits are
awarded accordingly
A notable exception is reporting of non compliance to the IRS - ANSWERS-Using
form 8823
Uniform physical conditions standards (UPCS) - ANSWERS-The states use
______ for local code for physical inspections
Household income for tax credit properties is determined in a manner
consistent with - ANSWERS-Section 8 housing rules
When this document is changed by HUD. The tax credit income and asset rules
change with it - ANSWERS-HUD handbook 4350.3
A tenant income certification and supporting documentation are not sufficient
unless, at minimum the following documents are included - ANSWERS-1.
Household application/income and asset questionnaire
2. Verification of income and assets
3. Student status
, 4. Tenant income certification (TIC)
Student status exemptions - ANSWERS-1. All adult household members are
married and entitled to file a joint tax return
2. All adult household members are single parents with minor children
3. A household member receives TANF
4. A household member formerly received foster care assistance
5. A household member gets assistance from the JTPA or SIMILAR program
Student status must be verified at - ANSWERS-Move in and annually
Who do we count in the house hold? - ANSWERS-Children who are Temporarily
absent and placed in foster home
In joint custody who are present 50% of time
Away at school who live with family during school breaks
Being adopted
Unborn
Members temporarily away
Members in rehab
Future spouse or roommate
Foster children and adults
Who do we NOT include - ANSWERS-Live in attendants
Define a live in attendant - ANSWERS-A person who resides with one or more
elderly persons or persons with disabilities
