M-100 Quiz (All Sections) with Complete Solutions**
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Course
M-100
Institution
M-100
**M-100 Quiz (All Sections) with Complete Solutions**
**Question 1:**
Which of the following is NOT a key characteristic of a community association?
A. Economic charges or assessments are mandatory and lien-based for operational and maintenance purposes.
B. Membership is automatically and man...
**M-100 Quiz (All Sections) with Complete Solutions**
**Question 1:**
Which of the following is NOT a key characteristic of a community association?
A. Economic charges or assessments are mandatory and lien-based for operational and
maintenance purposes.
B. Membership is automatically and mandatorily granted to all property owners.
C. Ownership in the association requires attendance at board meetings.
D. Certain documents legally bind all owners to be governed by the community rules.
**Answer:**
C. Ownership in the community association requires attending board meetings.
**Question 2:**
True or False: The main goal of a community association is to manage the governance, business,
and communal aspects of the association.
**Answer:**
True
**Question 3:**
Which of the following is NOT a basic type of residential community association?
a. Planned community
b. Townhouse
c. Cooperative
d. Condominium
**Answer:**
b. Townhouse
**Question 4:**
The adoption of the annual budget is an example of which type of resolution?
a. Policy resolution
b. Administrative resolution
c. Special resolution
d. General resolution
, **Answer:**
d. General resolution
**Question 5:**
True or False: The purpose of a community association's governing documents is to outline the
legal structure and operational procedures of the community.
**Answer:**
True
**Question 6:**
True or False: According to the general hierarchy of governing documents, the bylaws take
precedence over the recorded map, plat, or plan in case of a conflict.
**Answer:**
False
**Question 7:**
Complete the sentence: A __________ state statute applies specifically to one or more types of
community associations.
a. General
b. Complex
c. Specific
d. Uniform
**Answer:**
c. Specific
**Question 8:**
True or False: A proprietary lease or occupancy agreement in a cooperative outlines the
member’s or stockholder’s rights and obligations regarding their unit.
**Answer:**
True
**Question 9:**
Complete the sentence: The __________ bring the community association into existence, define
its basic purposes and powers, and indicate if stock will be issued.
a. Recorded map, plat, or plan
b. Declaration, CC&Rs, or master deed
c. Proprietary lease or occupancy agreement
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