In older condominiums - Study guides, Class notes & Summaries

CMCA PRACTICE EXAM QUESTIONS WITH VERIFIED ANSWERS 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. - ANS B 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 con...

CMCA PRACTICE EXAM QUESTIONS | With Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ 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. - Answer -B 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 budg...

CMCA PRACTICE EXAM WITH QUESTIONS AND WELL VETRIFIED ANSWERS[GRADED A+] ACTUAL EXAM 100% 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. - ANS--B 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 shortfa...

Market Analysis and Management of Housing Exam || With Questions & Answers (Rated A+) Market Analysis and Management of Housing Exam || With Questions & Answers (Rated A+) A condominium community has the need for a major capital expenditure. The reserve fund is insufficient to meet the cost. What is the procedure to pay for the capital expenditure? - Special assessment of the owners A condominium owner holds a proprietary lease. - False A factor against manufactured homes is that they ...

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. - correct answer B 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. - correct answer D Rather than descri...

Real Estate Principles Final Exam Colibri Questions and Answers 100% Pass Long Beach salesperson Eric Janey is providing sellers Julie and Zach Roberts with the necessary disclosures they must be given upon the sale of real property. Which of the following is NOT a disclosure that is given upon the sale of real property? - Answer- Mold Disclosure Required Lead-based Paint Disclosure Required Natural Hazards Disclosure Required Radon Detection Test Disclosure - NOT REQUIRED IN CA Escrow ...

CAI Exam Flashcards questions and answers well illustrated. Community Association - correct answer. legal entity in which the owners enjoy the protection, enhancement, maintenance and preservation of their homes and property. What're the three defining characteristics of community associations? - correct answer. 1. Membership in the community association is mandatory and automatic for all owners 2. Certain association governing documents bind the owner and the association...

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. - ️️B 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. - ️️D Rather than describing the scope of ...

Why are special membership meetings held? - --ANSWER>>>To conduct specific business Executive sessions should typically be used for discussing which of the following issues: - --ANSWER>>>Member's delinquency Which of the following is a duty of a manager attending a board meeting? - --ANSWER>>>Be the time keeper. If the governing documents and laws present conflicting notice periods, follow: - --ANSWER>>>State laws. If an owner fails to receive notice ...

A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This permits the lender to do what? - demand immediate payment of the entire note A broker has brought a ready, willing, and able buyer to a seller. In MOST listing contracts, the broker has earned his commission when what happens? - the seller accepts the offer. A broker lists a property, with a listing contract allowing subagency and dual agency. One of the broker's salespersons shows the property. Th...