Testable Area #1: Overview & Pertinent Program Terms — 10 questions
- History & Mission
- The Players
- Code/Regulatory Provisions
- Minimum Set-Aside
- Target Fraction
- Credit, Compliance & Extended Use Period
- Testable Area #2: Allocation, Development & Financing — 10 questions
- State Allocation Process
- Federal & State Elections
- Credit Reservations
- 10 Percent Test & Carryover Allocations
- Regulatory & Funding Agreements
- Testable Area #3: Credit Calculations — 10 questions
- Applicable Fraction
- Eligible Basis
- Credit Percentage
- Qualified Basis
- Credit Calculation
- Financing & Other Program Affects
- Testable Area #4: Rent Up & First Year — 10 questions
- Placed In Service Dates
- IRS Form 8609
- Labeling Units
- Vacant Units
- Starting the Credit Period
- First Year Applicable Fraction
- Claiming Credits the First Year
- Testable Area #5: Income & Rent Eligibility — 10 questions
- Income Limits
- Maximum Rents
- Utility Allowances
- Gross Rent Floors
- Income Calculations
- Verification Process
- Total Household Income
- Record Retention
- Testable Area #6: Special Eligibility Rules — 10 questions
- Full-time Students
- Section 8 Voucher Holders
- Resident Manager’s Units
- Unit Eligibility
- Unit Transfers
- Unit Vacancy Rule
- Recertifications
- Available Unit Rule
- Testable Area 7: Monitoring, Reporting & Noncompliance — 10 questions
- Reporting Requirements
- Audits
- IRS Form 8823
- Final 8823 Guide
- Ownership Changes
- Noncompliance
- Recapture
- Noncompliance Correction