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M 100 The Essentials of Community Association Management Exam | Correctly Answered & Rated A+ | 2024/2025 Guide $10.49   Add to cart

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M 100 The Essentials of Community Association Management Exam | Correctly Answered & Rated A+ | 2024/2025 Guide

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M 100 The Essentials of Community Association Management Exam | Correctly Answered & Rated A+ | 2024/2025 Guide M 100 The Essentials of Community Association Management Exam | Correctly Answered & Rated A+ | 2024/2025 Guide M 100 The Essentials of Community Association Management Exam | Corre...

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M 100 The Essentials of Community
Association Management Exam |
Correctly Answered & Rated A+ |
2024/2025 Guide


Name the sources of legal obligations for a Community Association

- Correct Answer - Federal, state and local statutes, regulations and
case law.

Governing documents

Standards set by professional bodies (AICPA)

Lender requirements



Types of Federal Law Applying to Community Associations

- Correct Answer - Equal Employment Opportunity Commission

Fair Debt Collection Practices Act

Fair Labor and Standards Act

Family and Medical Leave Act

FICA

OSHA

Bankruptcy Code

FCC

, Fair Housing Act



Types of State Statutes Applying to Community Associations

- Correct Answer - General - Applies to all types of associations

Specifics - Applies to only one type of association (takes precedence
over any general statutes and governing documents.

Uniform - National Conference of Commissioners draft generic content-
specific wording to encourage uniformity among the states.



Purpose of Community Association Governing Documents

- Correct Answer - Provide legal structure and operation of a community
association.



Hierarchy of Governing Documents

- Correct Answer - Recorded map, plat or plan

Declaration, CC&Rs, proprietary lease or occupancy agreement.

Articles of Incorporation

Bylaws

Board Resolutions



Declaration, CC&Rs, proprietary lease or occupancy agreement.

- Correct Answer - Declarations - Condo

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