Exam (elaborations)
Random CMCA Practice Test Questions With Complete Accurate Answers
- Course
- Institution
Random CMCA Practice Test Questions With Complete Accurate Answers
[Show more]
Seller
Follow
Victorious23
Reviews received
Content preview
Random CMCA Practice Test QuestionsWith Complete Accurate Answers
Which of the following is a common management control for ensuring
maintenance work is performed in a timely manner?
A. A purchase order system
B. An equipment warranties
C. A work order/response form
D. A contractor's invoice - -C. A work order/response form - A, B, and D
speak to elements OTHER than a control to ensure maintenance work is
completed.
-The primary management control tool for identifying whether the
association needs to maintain a particular property element is:
A. Physical inspections
B. Association bylaws
C. Maintenance responsibility chart
D. Community asset inventory - -C. Maintenance responsibility chart along,
with the governing documents, defines parameters of association
maintenance responsibility.
The other answers have no bearing on necessity of maintenance or
maintenance responsibility.
-In what type of a contract would a waiver of lien by recommended?
A. Repair of the HVAC system
B. Re-roofing the buildings
C. Repair of the pool pump
D. Annual tree pruning - -B. Re-roofing the buildings - Large contracts
involving significant material purchase and/or use of sub-contractors
commonly include lien waivers and should be recommended to the board.
A, C, and D typically do not include significant material purchases or the use
of sub-contractors so a waiver of lien is not necessary.
-What does "Co-Insurance" obligate the Association to do?
A. Pay the deductible
B. Maintain certain limits of insurance
C. Cover the depreciated value of all association buildings
,D. Provide insurance for homeowners - -B. Maintain certain limits of
insurance - Co-insurance seeks to the limits of insurance in place at the time
of a loss and speaks to insurance obligation for the parties involved in the
claim.
-When an association contracts out all of its services and has no employees,
it is a best business practice to:
A. Negotiate contracts within the bidding process.
B. Purchase employment practices liability insurance.
C. Assume the contractors carry their own insurance coverage.
D. Increase the coverage under the D&O insurance policy. - -A. Negotiate
contracts within the bidding process.
-If an owner fails to receive notice of a meeting, the association is not
responsible if the owner:
A. Did not notify association of their current address.
B. Does not usually attend the meetings.
C. Already signed the petition to call the meeting.
D. Shares title with multiple owners. - -A. Did not notify association of their
current address. It is the owner's responsibility to provide current contact
information to Management.
-What is the primary source of requirements when developing the
association's annual maintenance budget?
A. Governing documents
B. State law
C. Annual audit
D. Reserve Study - -A. Governing documents
-The best reasoning for recommending the modified accrual accounting
method is that, compared to cash accounting, it:
A. Will make future audit work more accurate.
B. More accurately reflects the association's financial condition.
C. Is more easily understood by board members.
D. Can be accomplishment more quickly. - -B. More accurately reflects the
association's financial condition. Under the modified accrual basis, also
sometimes referred to as modified cash basis, some accounts, such as
assessment income, are maintained on the accrual basis and other accounts,
such as interest or other miscellaneous income accounts, and some
expenses, such as miscellaneous repairs, are maintained on a cash basis.
The accrual of major expenses in particular, such as a contract for
landscaping, trash removal, etc., regardless of non-receipt invoices, gives
, the read a much more accurate depiction of the association's financial
standing, as the accruals serve to alert the reader to recognition of
obligations that the association must meet.
-TRUE OR FALSE:
The basic authority in a community association lies with the developer. - -
FALSE
-The board of directors in a community association has a _____________ to act
in the best interests and for the benefit of the community as a whole.
a. bond
b. fiduciary duty
c. ballot
d. quorum - -b. fiduciary duty
-When developing a rule, it must be consistent with:
A. Fine schedules as approved by the courts
B. Board recommendations and resolutions
C. Guidelines established within the governing documents
D. Applicable statues and governing documents - -D. Applicable statues and
governing documents. Rules cannot conflict with statues and governing
documents.
-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?
A. The amount of fine assessed.
B. Steps to amend the rules.
C. The offer to meet to hear the owner's viewpoint.
D. What the outcome of similar cases has been. - -C. The offer to meet to
hear the owner's viewpoint. Best way to get compliance is to let owner be
heard and explain rule to the owner. Knowledge Tested: Successful rule
enforcement Procedures.
-If the governing documents and laws present conflicting notice periods,
follow:
a. The bylaws
b. State laws
c. Your attorney's advice
d. Declarations - -b. State laws -
-Which of the following is a duty of a manager attending a board meeting?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78310 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now