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Community Association Management M100 Courses Exam With Answers (363 Solved Questions)

Improve your retention with Community Association Management M100 Courses Exam With Answers, featuring key past exam questions.

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M100 Community AssociationManagementExam Questions withcorrect AnswersEach of the following are key characteristics of community associations EXCEPT:a. Mandatory lien-based economic charges or assessments are levied on each owner inorder tooperate and maintain the community association.b. Membership in the community association is mandatory and automatic for all owners.c. A requirement of community association ownership is serving on the board ofdirectors.d. Certain documents bind all owners to be governed by the community association.-Answer-c. A requirement of community association ownership is serving on the boardof directors.This is one of the three key characteristics common to all community associations.Members of an association are not legally required to serve on the board of directors;however, the overall success on the community is dependent upon the members'involvement its affairs.True or False. The primary purpose of a community association is to provide for thegovernance, business, and communal aspects of the association.-Answer-TrueProviding for the governance, business, and communal aspects of the association isachieved by administering, maintaining, and enhancing a residential real estatedevelopment, and through the establishment of a system of property rights, bindingcovenants and restrictions, and rules and regulations.Each of the following are basic types of residential community associations EXCEPT:a. Planned communityb. Townhousec. Cooperatived. Condominium-Answer-b. TownhouseWhile many community associations are indeed townhouse communities, not all suchdevelopments are necessarily associations. A community association is defined interms of ownership rights—not architectural style.Adoption of the annual budget is an example of which of the following type ofresolution?a. policy resolutionb. administrative resolutionc. special resolutiond. general resolution-Answer-d. general resolution

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