CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND CORRECT ANSWERS (VERIFIEDANSWERS)|AGRADE

Why are special membership meetings held? - --ANSWERTo conduct specific business Executive sessions should typically be used for discussing which of the following issues: - --ANSWERMember's delinquency Which of the following is a duty of a manager attending a board meeting? - --ANSWERBe the time keeper. If the governing documents and laws present conflicting notice periods, follow: - --ANSWERState laws. If an owner fails to receive notice of a meeting, the association is not responsible if the owner: - --ANSWERDid not notify the association of their current address. Board meeting minutes should include which of the following: - -- ANSWERExact wording of each motion. If a proxy vote needs to be approved, the best option for an approver would be: - --ANSWERThe secretary. Where would a manager find guidelines regarding the association's responsibility for maintaining physical assets? - --ANSWERBoard resolutions.The primary management control tool for identifying whether the association needs to maintain a particular property element is: - -- ANSWERMaintenance responsibility chart. To determine which physical assets must be maintained by the association, the manager should: - --ANSWERReview the association governing documents. Which of the following is a common management control for ensuring maintenance work is performed in a timely manner? - --ANSWERA work order/response form. When monitoring maintenance of an association's swimming pool, which of the following should be entered into a permanent log at regular intervals? - --ANSWERChlorine level readings. Which of the following is an example of an association control system? - -- ANSWERFrequent neighborhood inspections. A work order: - --ANSWERAssigns maintenance tasks. Which type of maintenance should be managed with a routine maintenance contract? - --ANSWERCutting the grass Which method is the best alternative to increasing assessments? - -- ANSWERIncreasing income by charging higher user fees. When the Board reviews the proposed budget for approval, what should it consider? - --ANSWERThe financial position of the association. What is the primary source of requirements when developing the association's annual maintenance budget? - --ANSWERGoverning documents. When an association contracts out all of its service and has no employees, it is a best business practice to: - --ANSWERNegotiate contracts within the bidding process.Directors and officers liability insurance is designed to cover claims resulting from: - --ANSWERWrongful acts of employees of the association. A component of building ordinance insurance coverage includes: - -- ANSWERExtra demolition. Which of the following types of insurance coverage is one of limited value to a community association? - --ANSWERAssessment fee receivable. What section of an insurance policy describes the coverage limits, deductibles, policy period, and premium? - --ANSWERDeclaration page(s). To provide for payment of the insurance deductible, you would: - -- ANSWERAllow for costs in the operating budget. Liability claims should be sent to the insurer: - --ANSWERWithout admitting negligence. What does "Co-Insurance" obligate the Association to do? - -- ANSWERMaintain certain limits of insurance. Legal review prior to executing a contract will assist the association in the event that: - --ANSWERThe board has questions or concerns. In older condominiums, an association should have what type of contract covering mechanical equipment? - --ANSWERPreventive maintenance. Rather than describing the scope of work in detail in the contract, a manager may: - --ANSWERAttach bid specifications. Alternative dispute resolution includes which of the following methods? - -- ANSWERMediation. Employment contracts need not include: - --ANSWERInterests. In terms of compensation, a contract should state: - --ANSWERWhen and on what terms payment(s) will be made.