Tax Credit Specialist Exam || ,Most Recent Exam 2025/2026
Actual Complete Real Exam Questions & Correct Answers
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The section 42 regulations for LIHTC say that annual income
recertification is
not required for: - ANSWER-100%
LIHTC sites
The Available Unit Rule applies when: - ANSWER-The
tenant's income
increases over 140% of the current
income limit
When transferring between buildings at LIHTC sites, tenant
income must be: -
ANSWER-Below 140% of the current
income limit
One of the two provisions included in the Vacant Unit Rule
provides that: - ANSWER-Reasonable attempts to rent vacant
LIHTC units should be made
BEFORE renting vacant market units
, What fair housing laws do not apply to LIHTC - ANSWER-
Section 504 of the
Rehabilitation
Act
Compliance reporting requirements for LIHTC is at the
discretion of the state
Housing Agency, but the following is not: - ANSWER-Owner's
Certification of
Continuing Program
Compliance
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: -
ANSWER-30 Days
The student status of tenant household members is: -
ANSWER-Taken into
consideration for eligibility at
all times
It is suggested that many of the documents discussed
in this class be
contained: - ANSWER-In a project
data file
If the average income target for a LIHTC project's minimum set-
aside drops below 40% of the project's units averaging at or
Actual Complete Real Exam Questions & Correct Answers
(Verified Answers) Already Graded A+ / Guaranteed Success!!
Newest Exam / Just Released!!
The section 42 regulations for LIHTC say that annual income
recertification is
not required for: - ANSWER-100%
LIHTC sites
The Available Unit Rule applies when: - ANSWER-The
tenant's income
increases over 140% of the current
income limit
When transferring between buildings at LIHTC sites, tenant
income must be: -
ANSWER-Below 140% of the current
income limit
One of the two provisions included in the Vacant Unit Rule
provides that: - ANSWER-Reasonable attempts to rent vacant
LIHTC units should be made
BEFORE renting vacant market units
, What fair housing laws do not apply to LIHTC - ANSWER-
Section 504 of the
Rehabilitation
Act
Compliance reporting requirements for LIHTC is at the
discretion of the state
Housing Agency, but the following is not: - ANSWER-Owner's
Certification of
Continuing Program
Compliance
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: -
ANSWER-30 Days
The student status of tenant household members is: -
ANSWER-Taken into
consideration for eligibility at
all times
It is suggested that many of the documents discussed
in this class be
contained: - ANSWER-In a project
data file
If the average income target for a LIHTC project's minimum set-
aside drops below 40% of the project's units averaging at or
