Question 1
Under what section of the Internal Revenue Code is the Low-Income Housing Tax Credit (LIHTC) program authorized?
Correct Answer:
IRC §42
Question 2
Which federal agency is the primary regulator of LIHTC compliance at the federal level?
Correct Answer:
Internal Revenue Service (IRS)
Question 3
Which entity receives the federal LIHTC ceiling each year and allocates credits to specific projects within a state?
Correct Answer:
The state Housing Finance Agency (HFA), also called the allocating agency
Question 4
What document does each state HFA use to set scoring criteria, set-asides, and priorities for awarding LIHTC?
Correct Answer:
Qualified Allocation Plan (QAP)
Question 5
Which credit rate generally applies to NEW CONSTRUCTION or substantial rehabilitation of LIHTC projects that are NOT financed with tax-exempt bonds?
Correct Answer:
9% credit
Question 1
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About this Exam

Prepare with the SHCM Practice Questions - Specialist in Housing Credit Management Exam practice quiz. This question bank includes 100 questions covering lihtc, income, household, unit, and project. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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SHCM Practice Questions - Specialist in Housing Credit Management Exam

This practice set contains 100 questions from the matching question bank and focuses on lihtc, income, household, unit, and project. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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