National Compliance Exam

Show the industry you are an expert in the Low Income Housing Tax Credit Program by taking and passing this advanced compliance exam covering both the development/allocation AND management/compliance sides of this complex program.

Price $199.00

Description

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The National Compliance Exam is the industry’s leading
advanced Low Income Housing Tax Credit Program certification exam.

By passing this Exam, you are demonstrating to the Tax Credit industry you have…

  • Mastered BOTH the development/allocation and the compliance/management rules, 
  • A comprehensive knowledge of how the it works, and
  • Solid understanding of how compliance must be maintained!!

Details…

  • Focuses on the FEDERAL rules on BOTH the development/allocation and management/compliance sides.
  • Comprised of 70 questions separated into 7 Testable Areas (see below)
  • Once you register for the exam, you have 14 days to start it.
  • Once started, given 2.5 hours to complete.
  • To pass, score 80% or higher or answer 56+ questions correctly.
  • Results immediately available upon completion.
NOTE: THIS IS AN EXAM ONLY.
NO EDUCATION INCLUDED

When you pass, you will meet the Education Requirement for the National Compliance Professional or NCP designation with only a 6 month Experience Requirement left to be met to become a full-fledged NCP. Once you meet both, complete the simple 1 page Application to receive the most comprehensive & elite Housing Credit designation which includes membership into the elite NCP Membership Group!!

 

Price: $199 ♦ Add to Cart ♦ Register Offline

 

Testable Areas of the National Compliance Exam
#1: Overview & Program Terms
10 questions
  • History & Mission
  • The Players
  • Code/Regulatory Provisions
  • Minimum Set-Aside
  • Target Fraction
  • Credit, Compliance & Extended Use Period
#2: Allocation, Development & Financing
10 questions
  • State Allocation Process
  • Federal & State Elections
  • Credit Reservations
  • 10% Test & Carryover Allocations
  • Regulatory & Funding Agreements
 #3: Credit Calculations
10 questions
  • Applicable Fraction
  • Eligible Basis
  • Credit Percentage
  • Qualified Basis
  • Credit Calculation
  • Financing & Other Program Effects
#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
 #5: Income & Rent Eligibility
10 questions
  • Income Limits
  • Maximum Rents
  • Utility Allowances
  • Gross Rent Floors
  • Income Calculations
  • Verification Process
  • Total Household Income
  • Record Retention
#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
#7: Monitoring, Reporting & Noncompliance
10 questions
  • Reporting Requirements
  • Audits
  • IRS Form 8823
  • Final 8823 Guide
  • Ownership Changes
  • Noncompliance
  • Recapture
  • Noncompliance Correction

Price: $199 ♦ Add to Cart ♦ Register Offline

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