HCCP EXAM 2025 QUESTIONS AND ANSWERS

HCCP EXAM 2025 QUESTIONS AND
ANSWERS


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


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


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


Private Letter Ruling - ANS Cannot be cited as precedent


HERA - ANS Housing andEconomic Recovery Acts


What year does HERA start - ANS 2008


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


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


I - R - S cheat meaning - ANS I - Income
R - Rents


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, S - Safe and Sanitary


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


Limited Partner - ANS Provides GP with money to build


Syndicator - ANS Middle Man - communicates between GP and LP


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


What is a QAP - ANS Qualified Allocation Plan


What is QAP also Known As - ANS Game Plan


What is the Game Plan - ANS QAP - Qualified Allocation Plan


What is QAP for? - ANS Used by the states to decide who gets credits using the scoring
system


What is form 8823 - ANS Form used by the state agency to file non compliance to the IRS


Who files 8823? - ANS State Agency


What is 8823 Guide book - ANS Provides agency's with reference on how to complete form
8823




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