COS File Documentation & Recertification Procedures Flashcards
6 cards from real COS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 COS File Documentation & Recertification Procedures flashcards as text
What is the effective date of a tenant's annual recertification in HUD multifamily programs?
Answer: The tenant's certification anniversary date
The effective date of the annual recertification is the tenant's certification anniversary date, typically the anniversary of the initial certification or move-in.
What must an owner do if a tenant refuses to complete the annual recertification in a HUD-assisted property?
Answer: Follow HUD's prescribed process, including proper notices, which may lead to termination of assistance
If a tenant refuses to recertify, the owner must follow HUD's prescribed process including required notices, which may ultimately result in termination of rental assistance or tenancy.
Which of the following income sources is excluded from annual income calculations under HUD guidelines?
Answer: Foster care payments received for foster children
Foster care payments received for caring for foster children or foster adults are excluded from the household's annual income calculation under HUD regulations.
What is the purpose of a Repayment Agreement in HUD multifamily programs?
Answer: To document a tenant's obligation to repay assistance overpaid due to error or fraud
A Repayment Agreement documents the tenant's obligation to reimburse HUD or the owner for rental assistance overpaid due to tenant error, misrepresentation, or fraud.
How should an owner handle an income discrepancy when the EIV report shows higher income than the tenant reported?
Answer: Investigate the discrepancy, document the resolution, and adjust income if warranted
When EIV data conflicts with tenant-reported income, owners must investigate, document how the discrepancy was resolved, and adjust the income figure accordingly.
Under HUD asset rules, when total net family assets exceed $5,000, which income figure must the owner use?
Answer: The greater of actual asset income or imputed income
When assets exceed $5,000, owners must calculate both actual income from assets and imputed income using the passbook rate, then use whichever amount is greater.
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