Mixed Deck — All COS Topics Flashcards

Under the Violence Against Women Act (VAWA), a property manager must provide domestic violence victims with what document at lease signing and recertification?

Answer: HUD-5380 Notice of Occupancy Rights under VAWA

HUD form HUD-5380 (Notice of Occupancy Rights under VAWA) must be provided to all applicants and residents at key occupancy stages.

What is a needs assessment in COS Property Valuation & Appraisal practice?

Answer: Identifying gaps between current conditions and desired outcomes

A needs assessment identifies gaps between current performance and desired outcomes to justify improvements.

How does professional liability insurance protect COS practitioners?

Answer: Covering financial losses from claims of negligence or errors

This insurance covers financial consequences of claims alleging negligence or mistakes in professional services.

What is the purpose of a Housing Assistance Payments (HAP) contract?

Answer: To define the terms under which HUD pays rental subsidies to property owners

A HAP contract defines the terms and conditions under which HUD provides rental subsidy payments to property owners on behalf of eligible tenants.

Under HUD's physical standards, a property with a REAC score below what threshold is considered 'troubled' and may face increased oversight?

Answer: Below 60

A REAC physical inspection score below 60 generally designates a property as 'troubled,' triggering enhanced HUD oversight and a required corrective action plan.

Under HUD rules, the dependent deduction per dependent is:

Answer: $480

HUD allows a $480 deduction per dependent from annual income when calculating adjusted income.

What is a needs assessment in COS Real Estate Law & Regulations practice?

Answer: Identifying gaps between current conditions and desired outcomes

A needs assessment identifies gaps between current performance and desired outcomes to justify improvements.

What is the importance of continuing education for COS professionals in Fair Housing Laws?

Answer: Maintaining current knowledge and adapting to industry changes

Continuing education keeps professionals current with developments and best practices while meeting certification requirements.

What is the significance of the application review process in housing programs?

Answer: It is essential for verifying eligibility and ensuring compliance with program standards

The application review process is essential for verifying eligibility and ensuring compliance with housing program standards. This thorough examination of all submitted documents and information confirms that an applicant meets all program-specific criteria, from income and household composition to background checks. A robust review process safeguards program integrity, prevents fraud, and ensures fair and consistent application of housing policies.

What is a Management and Occupancy Review (MOR)?

Answer: HUD's on-site review of a property's compliance with program requirements

A Management and Occupancy Review (MOR) is HUD's on-site assessment of whether a property operates in compliance with program requirements and its HAP contract.

How does professional liability insurance protect COS practitioners?

Answer: Covering financial losses from claims of negligence or errors

This insurance covers financial consequences of claims alleging negligence or mistakes in professional services.

When the owner pays all utilities, how is the tenant's monthly rent determined?

Answer: The Total Tenant Payment with no utility allowance adjustment

When the owner pays all utilities, the tenant's rent equals the Total Tenant Payment with no utility allowance adjustment applied.

What is evidence-based practice in COS Property Management Practices?

Answer: Integrating research evidence with expertise and client needs

Evidence-based practice combines research, expertise, and client preferences for optimal outcomes.

What is a needs assessment in COS Market Analysis & Trends practice?

Answer: Identifying gaps between current conditions and desired outcomes

A needs assessment identifies gaps between current performance and desired outcomes to justify improvements.

What is 'contract rent' in HUD-assisted multifamily housing?

Answer: The total rent for a unit agreed upon by HUD and the property owner

Contract rent is the total rent for a unit as negotiated between HUD and the property owner under a Housing Assistance Payments contract.

What type of recertification is triggered by a significant change in a tenant's income or family composition between annual recertifications?

Answer: Interim Recertification

An Interim Recertification is conducted when there is a significant change in a tenant's income or household composition between scheduled annual recertifications.

Under Section 504 of the Rehabilitation Act, which properties are subject to its accessibility requirements?

Answer: Properties receiving federal financial assistance

Section 504 applies to programs and activities receiving federal financial assistance, including HUD-funded housing.

Under HUD's grievance procedure requirements, a resident of an assisted property who disagrees with a management decision must be provided the opportunity to request an informal hearing within how many days of receiving written notice?

Answer: 14 days

HUD requires that residents be given at least 14 days to request an informal grievance hearing after receiving written notice of a management action affecting their tenancy.

A live-in aide's income is:

Answer: Excluded from household annual income

Income of a live-in aide is excluded from annual income because the aide is not considered a household member for income purposes.

A household's medical expenses are $2,400/year and their annual income is $12,000. They qualify for the medical expense deduction on amounts exceeding 3% of annual income. What is their deduction?

Answer: $2,040

3% of $12,000 = $360; deduction = $2,400 − $360 = $2,040.