CMCA EXAM ACTUAL EXAM WITH 170 QUESTIONS AND ANSWERS (VERIFIED ANSWERS) BRANDNEW!!!
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Course
CMCA
Institution
CMCA
CMCA EXAM ACTUAL EXAM WITH 170
QUESTIONS AND ANSWERS (VERIFIED ANSWERS)
BRANDNEW!!!
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 p...
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 acceptable
agreement.
You have a proprietary lease in XYZ development. Which of the following
best describes your interest in the property? - ANSWER-Stock
membership.
Management conducts its tasks for the day to day operation of the
association in accordance with the: - ANSWER-Contract.
The Board of Directors receives its authority to perform its specific duties
through the: - ANSWER-Governing documents.
Which of the following is within the authority of the Board of Directors? -
ANSWER-Establishing programs.
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In preparing the association's annual financial report, many governing
documents specify: - ANSWER-Retaining an independent certified public
accountant.
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? - ANSWER-
The offer to meet to hear the owner's viewpoint.
In the hierarchy of a community association's governing documents, which
of the following is the highest authority? - ANSWER-Declaration.
When developing a rule, it must be consistent with: - ANSWER-Applicable
statutes and governing documents.
A board exercises its fiduciary responsibility by: - ANSWER-Establishing
internal controls.
The primary purpose of a community association is to: - ANSWER-Deal
with governance and business
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Who has the ultimate responsibility for the care and maintenance of the
common areas, facilities, and physical property? - ANSWER-The Board of
Directors.
What "duty" do the Board members and the manager have to the
members? - ANSWER-Loyalty.
Which of the following would impact the operation of a newly installed entry
control system? - ANSWER-Communicating the access control policy to
residents
Which of the following has the greatest regulatory influence on the
management of a community association? - ANSWER-Specific state
statutes.
What are the two essential financial documents the board of directors
should use to determine the amount of funds available for an unbudgeted
expense? - ANSWER-Balance sheet and statement of revenue and
expense.
What is the purpose of a Management Letter? - ANSWER-To note problem
areas in an association's financial operations and recommend
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