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M100 NEWEST EXAM 2025 PRACTICE TEST AND STUDYGUIDE QUESTIONS AND ANSWERS
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M100 NEWEST EXAM 2025 PRACTICE TEST AND STUDYGUIDE QUESTIONS AND ANSWERS
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M100 NEWEST EXAM 2025 PRACTICETEST AND STUDYGUIDE QUESTIONS
AND ANSWERS
In which of the following forms of community association
management is the association managed by the board
itself or by committees under the direction of the board?
A. Management company
B. Volunteer or self-management
C. Association-employed manager
D. Municipal management Correct Answer B. Volunteer or
self-management
TRUE or FALSE: An increase in assessment
delinquencies that is NOT due to a poor economy may be
an example of a warning sign of a weak management
situation. Correct Answer TRUE
Complete the following sentence: A
_________________________ is a statement of goals
and objectives approved by the board that includes the
yearly cycle of tasks that management should perform on
the community association's behalf.
A. Management audit
B. Management contract
C. Management plan
,D. Employment agreement Correct Answer C.
MANAGEMENT PLAN
Each of the following are key characteristics of a
community association 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 ca is mandatory and automatic for
all owners.
C. A requirement of ca ownership is attending board
meetings
D. Certain documents bind all owners to be governed by
the community. Correct Answer C. A requirement of
community association ownership is attending board
meetings.
True or False. The primary purpose of a community
association is to provide for the governance, business,
and communal aspects of the association. Correct Answer
True
Each of the following are basic types of residential
community associations
EXCEPT:
a. Planned community
b. Townhouse
c. Cooperative
d. Condominium Correct Answer b. Townhouse
,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 Correct Answer D. General
True or false. The purpose of a community association's
governing documents is to
provide for the legal structure and operation of the
community. Correct Answer True
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. Correct Answer False
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 Correct Answer C. Specific
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. Correct Answer True
, 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 Correct Answer d. Articles of
incorporation
True or False. The public offering statement is a governing
document, as it often distributed along with the governing
documents. Correct Answer False
Each of the following legal sources specify management
authority and responsibilities
for community associations EXCEPT:
a. survey data
b. state statutes
c. community association governing documents
d. court decisions Correct Answer A. Survey data
True or false. The basic authority in a community
association lies with the developer. Correct Answer False.
It lies with the owners
Complete the following sentence: The board of directors in
a community association has a _____________ to act in
the best interests and for the benefit of the community as
a whole.
a. bond
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