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CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE
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CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE
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CMCA EXAM 2023 REAL EXAM 17 0 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 fo llowing 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 associatio n 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 opti on 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 wheth er 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 doc uments. 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 shoul d 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 mainten ance 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). To provide for payment of the insura nce 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 limi ts 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) wil l 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 acce ptable agreement .Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
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