2020-2021 VERIFICATION
2020-2021 FAFSA Verification Quiz
Test your knowledge on the verification process for the 2020-2021 FAFSA. This quiz is designed for students, educators, and anyone interested in understanding the essential details related to financial aid verification.
In this quiz, you will learn:
- Key IRS codes and their implications
- How students can request tax transcripts
- The importance of verification for financial aid
Which tax year should be used on the 2020-2021 FAFSA?
2017
2019
2018
2016
Which tracking code has NOT been added to RRAAREQ?
X
D
P
S
Students are encouraged to submit documents on campus.
True
False
Name three ways students/parents can obtain their IRS tax transcripts.
1040s can be accepted if parents refuse to request their IRS transcripts
True
False
Verification of non-filing status is required from dependent students who have earned zero income
True
False
Which IRS data retrieval code matches this statement, "Student was presented with the option to use IRS data retrieval tool but did not elect to do so".
1
0
4
5
Which IRS data retrieval codes indicate changes were made to the original data transferred and may now require verification
Low income statements are required for independent students and parents who indicate they did or will not file taxes
True
False
What is the unique four digit student identifier that allows schools to access a student's FAFSA record if the school is not listed on the FAFSA
PIN
FSA ID
DRN
Income filing requirements have increased to $20,000
True
False
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