Cmca stuvia - Study guides, Class notes & Summaries

A contract is an agreement between two or more parties, enforceable by law, by which each party promises to do, or not do, something. d. retirement plan contributions - ANSWER-When deciding whether to have staff members or a contractor perform a task, a manager should consider each of the following EXCEPT: a. supervision b. expertise c. number of people d. retirement plan contributions TRUE - ANSWER-TRUE OR FALSE: When deciding whether to have staff members or a contractor perform...

1. d 2. b 3. c 4. a - ANSWER-MATCH 1. The process of operating, maintaining, repairing, and replacing common property - that is, the common elements or areas. 2. This is periodic maintenance to avoid disruptive breakdowns and to prolong the useful life of the physical asset in question. 3. While the maintenance calendar tells you when maintenance ought to be done, the record tells you when it actually was done. 4. This consists of replacing physical assets as they wear out or break. It is...

16 weeks - age of gestation - ANSWER-fundus is midway between the symphysis pubis and the umbilicus 20 weeks - age of gestation - ANSWER-fundus is at the umbilicus 32 weeks - age of gestation - ANSWER-fundus is at the xiphoid process Ante-partal exercises - ANSWER-aims at preventing low back pain and enhancing physical and psychological preparation for delivery by means of joint stretching and muscle strengthening. Ante-partal Exercises - ANSWER-Decreases fatigue Ante-partal Exerc...

Legal review prior to executing a contract will assist the association in the event that: A. A subcontractor is used. B. A performance bond is required. C. There is a budgetary shortfall. D. The board has questions or concerns. - ANSWER-D Rather than describing the scope of work in detail in the contract, a manager may: A. Attach the bid specifications. B. Call each contractor to describe the job. C. Be on-site to oversee project content. D. Suggest the board meet the contractor ...

Negligence - ANSWERSfailure to exercise a duty of care Ethics - ANSWERSlearning right from wrong and doing the right thing. Duty of Care - ANSWERSexercising the skill and care a reasonable person would i a similar situation Duty of Loyalty - ANSWERSacting solely in another parties interests when administering their assets Acceleration - ANSWERSthe collection of all assessments due thru the end of the fiscal year accrual basis of accounting - ANSWERSaccounting method that records i...

board liaison system - ANSWER-directors assigned to certain committees to guide the committee on Board policy and procedures and to report back to the board fiduciary duty - ANSWER-requires directors to act in the best interest and for the benefit of the corporation management audit - ANSWER-a review of governing docs and existing policies and procedures, current condition of the property, owner/resident satisfaction, and fiscal operations management audit - ANSWER-can be done by the bo...

Bylaws - ANSWER-Formally adopter governing regulations for the administration and management of a community association CC&R's - ANSWER-The governing documents that dictate how the homeowners association operates and what tules the owners, and their tenants and guests, must obey. These legal documents may be called Covenants, Conditions, and Restrictions, the Master Deed, the House Rules, the Declaration, or another name. Community Association - ANSWER-a group of owners who wish to provid...

Contractual transfer - ANSWER-Involves entering into a contract that will, among other things, transfer the community association's legal responsibility for any loss. Exposure avoidance - ANSWER-Avoiding circumstances that would expose the community to certain types of loss. Loss prevention and reduction - ANSWER-Taking steps to reduce the frequency of potential loss. Real property - ANSWER-Includes buildings, land and the newest type of property exposure such as web sites, logos and s...

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 the amount of money in each budgeted line item for the entire year & amount remaining in each line for the last 4 months of the year. Your association just completed the eighth month of its fiscal...

Board liaison system - ANSWER-Directors are assigned to certain committees to guide the committee on Board policy and procedures and to report back to the Board. Directors serving as a liaison must distinguish their role from the role of the committee chairperson. Business judgment rule - ANSWER-If a board has exercise, reasonable business judgment in making a decision, the court will generally not considered the board negligent in its producer duties, nor will the court substitute is judgmen...