CMCA PRACTICE EXAM QUESTIONS & ANSWERS COMPLETE EXAM BUNDLE 2023

Quorum requirements conflicts are resolved by: a. state statute b. the board of directors c. a vote of those present at a meeting d. appointment of a person as a proxy - ANSWERSA Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manage...

C. A work order/response form - A, B, and D speak to elements OTHER than a control to ensure maintenance work is completed. - ANSWERSWhich of the following is a common management control for ensuring maintenance work is performed in a timely manner? A. A purchase order system B. An equipment war...

Preparing a bid request includes which of the following: A. Verifying References. B. Identifying potential contractors. C. Recommending a contractor to the board. D. Verifying contractor insurance. - ANSWERSB Legal review prior to executing a contract will assist the association in the even...

Articles of incorporation - ANSWERSBring the corporation into existence, define its basic purposes and powers, indicate whether stock will be issued, and indicate whether there will be a board of directors Bylaws - ANSWERSFormally adopted governing regulations for the administration and manag...

Preparing a bid request includes which of the following: A. Verifying References. B. Identifying potential contractors. C. Recommending a contractor to the board. D. Verifying contractor insurance. - ANSWERSB Legal review prior to executing a contract will assist the association in the even...

Characteristics of a Community Association - ANSWERSMandatory membership Mutually binding documents Lien-based assessments Purposes of a Community Association - ANSWERSBusiness - Not for profit Government - Runs like a mini-government Community - Mutual reasons for buying into area 3 Basic...

1. Quorum requirements conflicts are resolved by: a. state statute. b. the board of directors. c. a vote of those present at a meeting. d. appointment of a person as a proxy. - ANSWERSA 2. Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. ...

Statement of Revenue and Expense - ANSWERSThis report shows the activity over a period of time & therefore will indicate the amount of income received & expenses incurred, whether actual or accrued, for all activity of the association through the 8 months of the fiscal year. The report may also show...