COS Cheat Sheet 2026

The 30 highest-yield COS facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. A family's gross rent is $900 and their Total Tenant Payment (TTP) is $650. What is the Housing Assistance Payment (HAP)? → $250
2. In HUD-assisted multifamily housing, what does 'gross rent' represent? → The contract rent plus the applicable utility allowance
3. A tenant files a formal written complaint alleging management violated fair housing rules. What is management's first obligation? → Take the complaint seriously, document it, and consult with a supervisor or legal counsel
4. What is the main purpose of the Fair Housing Act? → To ensure that all individuals have equal access to housing
5. Which of the following best describes the concept of 'constructive eviction' in the context of fair housing? → Conditions made so uninhabitable by the landlord that the tenant is forced to leave
6. Under the National Flood Insurance Program (NFIP), federally regulated lenders must require flood insurance for properties located in: → Special Flood Hazard Areas (SFHAs)
7. Which type of depreciation results from factors outside the property itself, such as a nearby industrial facility? → External (economic) obsolescence
8. Under HUD asset rules, when total net family assets exceed $5,000, which income figure must the owner use? → The greater of actual asset income or imputed income
9. What role do standard operating procedures play in COS Property Management Practices? → Ensuring consistency and quality through documented instructions
10. What can an individual do if they believe they have experienced housing discrimination? → File a complaint with HUD or a local fair housing agency
11. A tenant's utility allowance is $150 and their Total Tenant Payment is $100. What is the result? → The owner must pay the tenant a $50 utility reimbursement
12. A tenant with bipolar disorder asks to pay rent on the 5th instead of the 1st due to when their disability benefits arrive. This request is best described as: → A reasonable accommodation that must be granted if it doesn't impose undue hardship
13. Under the Fair Housing Act, which advertising practice is PROHIBITED when marketing affordable housing units? → Using images that depict only one racial group
14. How long must owners retain tenant files after a tenant vacates in HUD multifamily programs? → 3 years
15. Which of the following would NOT be considered a violation of the Fair Housing Act? → Setting a lower rent for elderly tenants
16. Why is it necessary to have a written lease agreement? → It provides a legal record of the agreed-upon terms for both parties
17. What term describes the difference between a property's gross potential income and effective gross income? → Vacancy and collection loss
18. A resident with severe anxiety asks to keep an emotional support dog in a no-pets building. Under the FHA, this request should be treated as: → A reasonable accommodation request that must be evaluated on its merits
19. What type of recertification is triggered by a significant change in a tenant's income or family composition between annual recertifications? → Interim Recertification
20. Which income type is INCLUDED in annual income under HUD 4350.3? → Net income from a family business
21. What is the purpose of a waiting list in housing programs? → To prioritize applicants and manage housing availability
22. Under USPAP, what does the term 'extraordinary assumption' mean in an appraisal report? → An assumption, if found false, that could alter the appraisal's conclusions
23. Why is it important to account for non-wage income when calculating eligibility for housing programs? → To ensure that all sources of income are considered for eligibility
24. How is the Housing Assistance Payment (HAP) calculated when a tenant pays their own utilities? → HAP = Gross Rent minus TTP
25. A property manager refuses to process a rental application from someone because of their accent. This most likely violates which protected class? → National origin
26. What is the primary purpose of a Uniform Residential Appraisal Report (URAR) in HUD programs? → To establish market value for mortgage underwriting and program compliance
27. In HUD's MAP (Multifamily Accelerated Processing) program, who is responsible for reviewing and certifying the appraisal before submission? → The MAP-approved lender's underwriter
28. Under the HOME Investment Partnerships Program, what is the purpose of the 'commitment deadline' requirement? → To require grantees to commit HOME funds within a specified timeframe or risk losing them
29. What does the Fair Housing Act prohibit in the leasing process? → Discrimination based on race, religion, or other protected classes
30. Under Section 504, what must a property's marketing materials communicate to prospects with disabilities? → The availability of accessible units and reasonable accommodations