100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
M100 COMMUNITY ASSOCIATION MANAGEMENT EXAM|| ALL QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+|| LATEST UPDATE 2024 $29.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. M100 COMMUNITY ASSOCIATION MANAGEMENT
  4.  
  5. M100 COMMUNITY ASSOCIATION MANAGEMENT

Exam (elaborations)

M100 COMMUNITY ASSOCIATION MANAGEMENT EXAM|| ALL QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+|| LATEST UPDATE 2024

 0 purchase
  • Course
  • M100 COMMUNITY ASSOCIATION MANAGEMENT
  • Institution
  • M100 COMMUNITY ASSOCIATION MANAGEMENT

M100 COMMUNITY ASSOCIATION MANAGEMENT EXAM|| ALL QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+|| LATEST UPDATE 2024

Preview 4 out of 132  pages

Document information

  • November 13, 2024
  • 132
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • m100 community
  • m100 community association management
  • m100 community association management exam all q
  • m100 community association management exam all q
  • m100 community association management exam all q

Written for

  • M100 COMMUNITY ASSOCIATION MANAGEMENT
  • M100 COMMUNITY ASSOCIATION MANAGEMENT

Seller

avatar-seller
chareiezekiel

Reviews received

Content preview

1|Page


M100 COMMUNITY ASSOCIATION MANAGEMENT
EXAM|| ALL QUESTIONS AND CORRECT
ANSWERS ALREADY GRADED A+|| LATEST
UPDATE 2024

General resolutions involve routine events such as adoption of the annual budget.




True or false. The purpose of a community association's governing documents is to
provide for the legal structure and operation of the community.
True


The governing documents define the rights and obligations of both the community
association and its owners, create a binding relationship between each owner and
the community association, and establish the mechanisms for governing and
funding the community association's operations.




True or false. According to the general hierarchy of authority for governing
documents, the bylaws would control in a conflict with the recorded map, plat, or
plan.
False


As a general rule, documents lower in the hierarchy of authority cannot conflict
with or change the terms of those above them. The recorded map, plat, or plan is
above the bylaws in the hierarchy, and therefore would prevail in such a conflict.

,2|Page


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
c. specific


A specific state statute is one that applies only to one or more types of community
associations. For example, most states have a condominium act which provides for
the establishment and operation of condominiums as legal entities. These acts vary
in terms of their complexity—the simplest ones just allow for the creation of
condominiums.




True or false. A proprietary lease or occupancy agreement in a cooperative defines
the member or stockholder's rights and obligations in relation to the living unit.
True


In a cooperative, the proprietary lease or occupancy agreement serves generally the
same purpose as the declaration, CC&R, or master deed in other community
associations. Among other things, the proprietary lease or occupancy agreement
identifies the premises that the stockholder is permitted to occupy exclusively,
defines the term of the lease and the rent that is payable by the stockholder, and
establishes the powers and obligations of the cooperative's board of directors,
including assessment rights.

,3|Page


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
d. articles of incorporation


Each of the following are key characteristics of community associations EXCEPT:
a. Mandatory lien-based economic charges or assessments are levied on each
owner in order to operate and maintain the community association.
b. Membership in the community association is mandatory and automatic for all
owners.
c. A requirement of community association ownership is serving on the board of
directors.
d. Certain documents bind all owners to be governed by the community
association.
c. A requirement of community association ownership is serving on the board of
directors.


This is one of the three key characteristics common to all community associations.
Members of an association are not legally required to serve on the board of
directors; however, the overall success on the community is dependent upon the
members' involvement its affairs.




True or False. The primary purpose of a community association is to provide for
the governance, business, and communal aspects of the association.

, 4|Page


True


Providing for the governance, business, and communal aspects of the association is
achieved by administering, maintaining, and enhancing a residential real estate
development, and through the establishment of a system of property rights, binding
covenants and restrictions, and rules and regulations.




Each of the following are basic types of residential community associations
EXCEPT:
a. Planned community
b. Townhouse
c. Cooperative
d. Condominium
b. Townhouse


While many community associations are indeed townhouse communities, not all
such developments are necessarily associations. A community association is
defined in terms of ownership rights—not architectural style.




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
d. general resolution

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 chareiezekiel. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $29.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69052 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$29.99
  • (0)
Add to cart
Added