HCCP EXAM QUESTIONS AND ANSWERS.

HCCP EXAM QUESTIONS AND ANSWERS.
Question :Units that support tax credits meet the following
requirements
Correct answer:I- income limits
R- rent limits
S- safe and sanitary
Question :General Partner
Correct answer:An owner (partner) who has unlimited
liability and is active in managing the firm.
Question :Limited Partnership (LP)
Correct answer:A partnership in which one or more partners
have limited liability as long as at least one partner (the
general partner) has unlimited liability. The limited partners
are passive investors that cannot take an active role in the
firm's management.
Question :syndicator
Correct answer:Facilitate the GP and LP relationship.
Syndicator combine multiple projects into a single fund, and
then offer shares in the fund to individual investors
Question :State HFAs are often called
Correct answer:State agencies or state allocating agencies
Question :State HFA's are used by the IRS to carry out two
primary functions
Correct answer:The allocation of credits and compliance
monitoring

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