2023 CMCA Real Exam with Answers (191 Solved Questions)

Name: 2023 CMCA Real Exam with Answers (191 Solved Questions)
Brand: Academic Documents Platform
Price: 3 USD
Availability: InStock
Author: Benjamin Clark

2023 CMCA Real Exam with Answers offers you a structured way to prepare for your exam with solved past exam papers.

Benjamin Clark

Contributor

4.8

3 days ago

Preview (7 of 21)

CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND
CORRECT ANSWERS(VERIFIED
ANSWERS)|AGRADE
Why are special membership meetings held? - ANSWER- To conduct specific
business
Executive sessions should typically be used for discussing which of the following
issues: - ANSWER- Member's delinquency
Which of the following is a duty of a manager attending a board meeting? -
ANSWER- Be the time keeper.
If the governing documents and laws present conflicting notice periods, follow: -
ANSWER- State laws.
If an owner fails to receive notice of a meeting, the association is not responsible if
the owner: - ANSWER- Did not notify the association of their current address.
Board meeting minutes should include which of the following: - ANSWER- Exact
wording of each motion.
If a proxy vote needs to be approved, the best option for an approver would be: -
ANSWER- The secretary.
Where would a manager find guidelines regarding the association's responsibility
for maintaining physical assets? - ANSWER- Board resolutions.
The primary management control tool for identifying whether the association
needs to maintain a particular property element is: - ANSWER- Maintenance
responsibility chart.
To determine which physical assets must be maintained by the association, the
manager should: - ANSWER- Review the association governing documents.
lOMoARcPSD|13778330

Which of the following is a common management control for ensuring
maintenance work is performed in a timely manner? - ANSWER- A work
order/response form.
When monitoring maintenance of an association's swimming pool, which of the
following should be entered into a permanent log at regular intervals? - ANSWER-
Chlorine level readings.
Which of the following is an example of an association control system? -
ANSWER- Frequent neighborhood inspections.
A work order: - ANSWER- Assigns maintenance tasks.
Which type of maintenance should be managed with a routine maintenance
contract? - ANSWER- Cutting the grass
Which method is the best alternative to increasing assessments? - ANSWER-
Increasing income by charging higher user fees.
When the Board reviews the proposed budget for approval, what should it
consider? - ANSWER- The financial position of the association.
What is the primary source of requirements when developing the association's
annual maintenance budget? - ANSWER- Governing documents.
When an association contracts out all of its service and has no employees, it is a
best business practice to: - ANSWER- Negotiate contracts within the bidding
process.
Directors and officers liability insurance is designed to cover claims resulting
from: - ANSWER- Wrongful acts of employees of the association.
A component of building ordinance insurance coverage includes: - ANSWER-
Extra demolition.
Which of the following types of insurance coverage is one of limited value to a
community association? - ANSWER- Assessment fee receivable.
What section of an insurance policy describes the coverage limits, deductibles,
policy period, and premium? - ANSWER- Declaration page(s).
lOMoARcPSD|13778330

To provide for payment of the insurance deductible, you would: - ANSWER-
Allow for costs in the operating budget.
Liability claims should be sent to the insurer: - ANSWER- Without admitting
negligence.
What does "Co-Insurance" obligate the Association to do? - ANSWER- Maintain
certain limits of insurance.
Legal review prior to executing a contract will assist the association in the event
that: - ANSWER- The board has questions or concerns.
In older condominiums, an association should have what type of contract covering
mechanical equipment? - ANSWER- Preventive maintenance.
Rather than describing the scope of work in detail in the contract, a manager may: -
ANSWER- Attach bid specifications.
Alternative dispute resolution includes which of the following methods? -
ANSWER- Mediation.
Employment contracts need not include: - ANSWER- Interests.
In terms of compensation, a contract should state: - ANSWER- When and on what
terms payment(s) will be made.
Preparing a bid request includes which of the following? - ANSWER- Identifying
potential contractors.
For which project would a board most likely want to use a consultant to help
develop bid specifications? - ANSWER- Repairing and/or replacing all roofs.
In what type of a contract would a waiver of lien be recommended? - ANSWER-
Re-roofing the buildings.
When a dispute is mediated, an uninvolved third party facilitates discussion and: -
ANSWER- Assists both parties in reaching a mutually acceptable agreement.
lOMoARcPSD|13778330

You have a proprietary lease in XYZ development. Which of the following best
describes your interest in the property? - ANSWER- Stock membership.
Management conducts its tasks for the day to day operation of the association in
accordance with the: - ANSWER- Contract.
The Board of Directors receives its authority to perform its specific duties through
the: - ANSWER- Governing documents.
Which of the following is within the authority of the Board of Directors? -
ANSWER- Establishing programs.
In preparing the association's annual financial report, many governing documents
specify: - ANSWER- Retaining an independent certified public accountant.
In an initial letter you send to an owner who has violated one of the association's
adopted rules, which of the following is included? - ANSWER- The offer to meet
to hear the owner's viewpoint.
In the hierarchy of a community association's governing documents, which of the
following is the highest authority? - ANSWER- Declaration.
When developing a rule, it must be consistent with: - ANSWER- Applicable
statutes and governing documents.
A board exercises its fiduciary responsibility by: - ANSWER- Establishing internal
controls.
The primary purpose of a community association is to: - ANSWER- Deal with
governance and business.
Who has the ultimate responsibility for the care and maintenance of the common
areas, facilities, and physical property? - ANSWER- The Board of Directors.
What "duty" do the Board members and the manager have to the members? -
ANSWER- Loyalty.
Which of the following would impact the operation of a newly installed entry
control system? - ANSWER- Communicating the access control policy to
residents.
lOMoARcPSD|13778330

Which of the following has the greatest regulatory influence on the management of
a community association? - ANSWER- Specific state statutes.
What are the two essential financial documents the board of directors should use to
determine the amount of funds available for an unbudgeted expense? - ANSWER-
Balance sheet and statement of revenue and expense.
What is the purpose of a Management Letter? - ANSWER- To note problem areas
in an association's financial operations and recommend modifications and
improvements.
The interim financial report should, at minimum, include a: - ANSWER- Statement
of income and expenses, account balance, and a balance sheet.
The manager is not usually responsible for preparing the: - ANSWER- Tax returns.
Your association just completed the eighth month of its fiscal year. Which
financial report would be most useful to project year end expenses? - ANSWER-
Statement of revenue and expense.
A significant decline in the amount of investments is most likely the result of: -
ANSWER- Expenditures out of reserve funds.
If you want to know the difference between actual and budget figures for a revenue
account, to which documents should you refer? - ANSWER- Statement of Income
and Expenses and Budget
The best reasoning for recommending the modified accrual accounting method is
that, compared to cash accounting, it: - ANSWER- More accurately reflects the
association's financial condition.
On what basis is the community association reporting its finances when the
financial reports indicate income when received and expenses when paid? -
ANSWER- Cash basis.
Community association managers must be familiar with Federal Income Tax
requirements and options because: - ANSWER- Under Federal Tax code, all
organizations are taxable on their income unless specifically exempted.
lOMoARcPSD|13778330

Loading page 6...

The purpose of a personnel manual or employee handbook is to: - ANSWER-
Explain employee rights and responsibilities.
When staff members help to develop policies and procedures, they are more: -
ANSWER- Committed to implement them.
Which tool is most effective for defining the employee's duties? - ANSWER- Job
description.
Discipline as part of the HR management can include: - ANSWER- Counseling the
employee.
What is the best way to communicate management's expectation for an employee
to complete regular and special tasks during a certain time-period? - ANSWER-
Establishing performance goals.
In preparing the association's annual financial report, many governing documents
specify: - ANSWER- Retaining an independent certified public accountant
When a dispute is mediated, the uninvolved third party facilitates discussion and -
ANSWER- Assists both parties in reaching a mutually acceptable agreement
When developing a rule, it must be consistent with.... - ANSWER- Applicable
statues and governing documents
What would impact the operation of a newly installed entry control system? -
ANSWER- Communicating the access control policy to residents
The BOD receives its authority to perform its specific duties through the: -
ANSWER- governing documents
What has the greatest regulatory influence on the management of a community
association? - ANSWER- specific state statutes
What duty does the BOD and manager have to its members? - ANSWER- Loyalty
management conducts its day to day operation of the association in accordance
with: - ANSWER- contract
lOMoARcPSD|13778330

Loading page 7...

6 more pages available. Scroll down to load them.

Preview Mode

100%

Study Now!

XY-Copilot AI

Unlimited Access

Secure Payment

Instant Access

24/7 Support

Document Chat

Document Details

Subject

Other Exams & Certifications

2023 CMCA Real Exam with Answers (191 Solved Questions)

Study Now!

Document Details

Related Documents

SAP S/4HANA Sales Certification Guide: Application Associate Exam (2021)

SAP HANA 2.0 Certification Guide: Technology Associate Exam (2021)

SAP S/4HANA Production Planning and Manufacturing Certification Guide: Application Associate Exam (2022)

SAP S/4HANA Business Process Integration Certification Guide: Application Associate Exam (2021)

2024 RAC Nursing Ethics Devices Prepation Exam With Answers (39 Solved Questions)

2024 RAC Medical Marketing Practice Exam With Answers (89 Solved Questions)

Turf and Ornamental Pesticide Applicator 1 Practice Exam With Answers (97 Solved Questions)

2021 1Z0-1081 Oracle Financial Consolidation and Close Implementation Essentials Certification Exam With Answers (10 Solved Questions)

2024 Ornamental And Turf Pesticide Applicator Practice Exam With Answers (78 Solved Questions)

2023 WRT EXAM With Answers (146 Solved Questions)

Company

Explore

Study Tools