1
NCHM TAX CREDIT SPECIALIST EXAM
QUESTIONS AND ANSWERS 2025
Unit percentage and square footage percentage - correct-answer -Determining a
building's applicable fraction consists of a comparison between its:
100% LIHTC sites - correct-answer -The section 42 regulations for LIHTC say that
annual income recertification is not required for:
The tenant's income increases over 140% of the current income limit - correct-
answer -The Available Unit Rule applies when:
Below 140% of the current income limit - correct-answer -When transferring
between buildings at LIHTC sites, tenant income must be:
Reasonable attempts to rent vacant LIHTC units should be made before renting
vacant market units - correct-answer -One of the two provisions included in the
Vacant Unit Rule provides that:
, 2
Section 504 of the Rehabilitation Act - correct-answer -Which of the following Fair
Housing Laws do not Apply to LIHTC?
Owner's Certification of Continuing Program Compliance - correct-answer -
Compliance reporting requirements for LIHTC is at the discretion of the State
Housing Agency, but the following is not:
30 days - correct-answer -One of the requirements for a unit to be considered
qualified as low-income in order to generate tax credits is that its building be
placed in service for at least:
Taken into consideration for eligibility at all times - correct-answer -The students
status of tenant household members is:
In a project data file - correct-answer -It is suggested that many of the documents
discussed in this class be contained:
No credits would be available to the owner during that taxable year - correct-
answer -If the average income target for a LIHTC project's minimum set-aside
NCHM TAX CREDIT SPECIALIST EXAM
QUESTIONS AND ANSWERS 2025
Unit percentage and square footage percentage - correct-answer -Determining a
building's applicable fraction consists of a comparison between its:
100% LIHTC sites - correct-answer -The section 42 regulations for LIHTC say that
annual income recertification is not required for:
The tenant's income increases over 140% of the current income limit - correct-
answer -The Available Unit Rule applies when:
Below 140% of the current income limit - correct-answer -When transferring
between buildings at LIHTC sites, tenant income must be:
Reasonable attempts to rent vacant LIHTC units should be made before renting
vacant market units - correct-answer -One of the two provisions included in the
Vacant Unit Rule provides that:
, 2
Section 504 of the Rehabilitation Act - correct-answer -Which of the following Fair
Housing Laws do not Apply to LIHTC?
Owner's Certification of Continuing Program Compliance - correct-answer -
Compliance reporting requirements for LIHTC is at the discretion of the State
Housing Agency, but the following is not:
30 days - correct-answer -One of the requirements for a unit to be considered
qualified as low-income in order to generate tax credits is that its building be
placed in service for at least:
Taken into consideration for eligibility at all times - correct-answer -The students
status of tenant household members is:
In a project data file - correct-answer -It is suggested that many of the documents
discussed in this class be contained:
No credits would be available to the owner during that taxable year - correct-
answer -If the average income target for a LIHTC project's minimum set-aside
