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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. Each of the following are key characteristics of a community association EX...

55 and older community - Correct Answer Must have one person who is 55 years of age or older living in at least 80% of its occupied units. The community must be designated "55 and older" to qualify as this type of housing that legally prohibits children and limits occupancy to a certain age span. The designation process involves submitting applications and obtaining approval before any enforcement of the ages of residents commences. Approval from the Department of Housing and Urban Devel...

Community Association - Correct Answer Mandatory memberships, mutually binding contracts, lien-based assements Purpose of community association - Correct Answer Provide for the community, business, and governance aspects of the association Basic types of community association - Correct Answer Planned communities, condominium, and cooperatives Planned community - Correct Answer HOA, owner association Condominium - Correct Answer Owner of his/her unit Cooperative - Correct...

community association - Correct Answer legal entity in which the owners enjoy the protection, enhancement, maintenance & preservation of their homes & property community association has 3 defining characteristics - Correct Answer Membership in the community is mandatory & automatic for all owners; certain association docs bind the owner & the association to each other through mandated actions; mandatory lien-based assessments (maintenance fees) are levied on each owner in order to operate...

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What is a digital asset? - Correct Answer digital item that you can own but will never exist outside of the internet What is the purpose of blockchain technology? - Correct Answer Record, store and track digital information and transactions. What is one characteristic of blockchain technology that allows a ledger to be spread out and accessible to people all over the world? - Correct Answer Distributed in a shared network How does a hash help secure blockchain technology? - Correc...

Learning Objective 1: - Correct Answer Describe what problems blockchains solve Learning Objective 2: - Correct Answer Define what is meant by a distributed ledger Learning Objective 3: - Correct Answer Explain how blockchains avoid alteration Learning Objective 4: - Correct Answer Explain how one can verify the source of blockchain transactions Learning Objective 5: - Correct Answer Explain what is meant by consensus in a blockchain Learning Objective 6: - Correct Answe...

What does the "finality" quality of service provide to blockchain? a. Agreement that a transaction occurred b. History of transactions c. An append-only data structure d. Transactions cannot be backed out - Correct Answer d. Transactions cannot be backed out Which of the following facts about assets is true? a. Assets are anything that is capable of being owned or controlled to produce value b. Assets are always tangible c. Cash is not considered an asset, because it is anonymo...

Where are the transactions recorded in a blockchain? * On a SQL database * On a distributed immutable ledger * On a distributed opaque immutable ledger * On a centralized immutable ledger - Correct Answer On a distributed immutable ledger If the following are the six steps in the process of creating a new block, what is the right time sequence in which the process happens? 1. Nodes verify transactions 2. Transactions were submitted to the network 3. Consensus algorithm 4. Select the...

Who created the first crypto? - Correct Answer Satoshi Nakamoto, the creator of bitcoin. What is blockchain? - Correct Answer A blockchain is a digital ledger (a shared database) that stores data in blocks linked together via cryptography. Many different types of information can be stored in blockchains, the most common being to track transactions. Decentralized blockchains (bitcoin) are immutable, every transaction is recorded and can be viewed by anyone. What are the four componen...