M-100 QUIZ (all sections) Latest Update 2024-
2025 Actual Exam Questions and 100% Verified
Correct Answers Guaranteed A+
.In which of the following forms of community association management is the
association managed by the board itself or by committees under the direction of the
board?
a. management company
b. volunteer or self-management
c. association-employed manager
d. municipal management - CORRECT ANSWER: b. volunteer or self-managed
Adoption of the annual budget is an example of which of the following type of
resolution?
a. policy resolution
b. administrative resolution
c. special resolution
d. general resolution - CORRECT ANSWER: D. General
Complete the following sentence: A __________ state statute is one that applies only
to one or more types of community associations.
a. general
b. complex
c. specific
d. uniform - CORRECT ANSWER: C. Specific
Complete the following sentence: A ________________ is a statement of goals and
objectives approved by the board that includes the yearly cycle of tasks that
, management should perform on the community association's behalf.
a. management audit
b. management contract
c. management plan
d. employment agreement - CORRECT ANSWER: C management plan
Complete the following sentence: The __________ bring the community association
into existence, define its basic purposes and powers, and indicate whether stock will be
issued.
a. recorded map, plat, or plan
b. declaration, CC&Rs, or master deed
c. proprietary lease or occupancy agreement
d. articles of incorporation - CORRECT ANSWER: d. Articles of incorporation
Complete the following sentence: 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 - CORRECT ANSWER: b. fiduciary duty
Each of the following are basic types of residential community associations
EXCEPT:
a. Planned community
b. Townhouse
c. Cooperative
d. Condominium - CORRECT ANSWER: b. Townhouse
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