M100 COMMUNITY
ASSOCIATION
MANAGEMENT EXAM
360+ (Fully Updated 2025-2026)
Exam Questions + Verified &
Rationalized Answers | A+ Graded
100% Guarantee Pass
This Exam contains: M100 COMMUNITY
✓ ASSOCIATION MANAGEMENT EXAM
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
Trusted by thousands of students and professionals worldwide Page 1 of 91
,Question 1
True or false. A good resource for identifying potential contractors are referrals from supply firms doing business
with the community association.
Correct Answer
True
A manager can obtain the names of potential contractors for a specific job from referrals from supply firms doing
business with the community association. Before a manager sends a contractor a bid request, he or she should
call first to see if the company is interested in bidding. He or she should avoid sending out bid requests and
waiting for a response—only to find out that none of the receivers were interested or available.
Question 2
Contractual transfers
Correct Answer
This involves entering into a contract that will, among other things, transfer the community association's legal
responsibility for any loss. An example would be contracting for landscape services, instead of using community
association employees, and incorporating clauses such as a hold harmless provision in the contract, or the
association contracts with a community association management company. Contractual transfers are a type of risk
control activity.
Question 3
Which of the following is not a common insurance coverage and endorsement for property exposures to loss?
a. commercial package policy (CPP) insurance
b. boiler and machinery insurance
c. flood insurance
d. hired and non-owned automobile liability insurance
Correct Answer
d. hired and non-owned automobile liability insurance
Common insurance coverages and endorsements for property exposures to loss include commercial package policy
insurance, boiler and machinery insurance, building ordinance insurance, flood insurance, and electronic data
processing. Hired and non-owned automobile liability insurance, a common insurance coverage and endorsement
for liability exposures to loss, covers legal claims arising out of the use of automobiles that are not owned by the
community association, but that are used while acting on behalf of the association.
Trusted by thousands of students and professionals worldwide Page 2 of 91
,Question 4
True or false. If a community association has just one part-time employee, it doesn't need a written personnel
manual or employee handbook.
Correct Answer
False
Even if a community association has just one part-time employee, it should have a written set of policies and
procedures that define the relationship between the community association and the employee and that explain the
rights and responsibilities of both the employer and the employee. The content and wording of any manual or
handbook have legal ramifications. As a result, a personnel specialist or attorney should be directly involved in the
adoption of a personnel manual or employee handbook.
Question 5
True or false. It is perfectly acceptable to hold a board meeting in the home of the association president.
Correct Answer
False
If a community association does not have a meeting room, board meetings should be scheduled in public places.
Avoid meetings in homes of board members, as the space will not always be adequate. Nor is a board member's
home a public and neutral site that will encourage owners' attendance.
Question 6
Hearing notice
Correct Answer
A written notice to an alleged violator that a hearing will be held to consider his or her alleged violation. Issuing a
hearing notice is one of the steps in a due process procedure for enforcing rules. A hearing notice may contain the
nature of the alleged violation, the action requested to cure the alleged violation, the time and place of a hearing,
an invitation to attend the hearing and produce any statement, evidence or witnesses on his or her behalf, a
statement that a sanction may be imposed, and the maximum amount of any sanction.
Question 7
Each of the following are key characteristics of community associations 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 community association is mandatory and automatic for all owners.
c. A requirement of community association ownership is serving on the board of directors.
d. Certain documents bind all owners to be governed by the community association.
Correct Answer
c. A requirement of community association ownership is serving on the board of directors.
This is one of the three key characteristics common to all community associations. Members of an association are
not legally required to serve on the board of directors; however, the overall success on the community is
dependent upon the members' involvement its affairs.
Trusted by thousands of students and professionals worldwide Page 3 of 91
, Question 8
Each of the following statements regarding community association assessments are true EXCEPT:
a. Assessments penalize residents for violating association rules
b. An assessment is the owner's financial obligation to the community association during a given period of time
c. An assessment for an owner's share of the common expenses is a binding legal obligation based on the
community association's governing documents
d. An annual assessment may be paid on a monthly, quarterly, or annual basis
Correct Answer
a. Assessments penalize residents for violating association rules
Assessments are not a penalty or fine for residents who violate association rules. Instead, assessments cover an
owner's share of the common expenses, and are one of the three defining characteristics of all community
associations.
Question 9
Liabilities
Correct Answer
One of the three major components of a balance sheet. Liabilities consist of what is owed to others or collected in
advance (e.g., owner assessments received prior to the billed month, accounts payable, etc.). A balance sheet also
contains assets and members equity (or fund balance).
Question 10
True or false. The declaration or master deed often includes a maintenance schedule for particular assets.
Correct Answer
True
Managers should research legal documents to identify the physical assets their community association is
responsible for maintaining. State statutes, board resolutions, and governing documents all often discuss
maintenance of physical assets. In particular, the declaration or master deed will frequently include a maintenance
schedule for particular assets.
Question 11
Turnover
Correct Answer
That date upon which homeowners gain control of their association from the developer. Typically, turnover occurs
at an annual or special meeting of the homeowners.
Trusted by thousands of students and professionals worldwide Page 4 of 91
ASSOCIATION
MANAGEMENT EXAM
360+ (Fully Updated 2025-2026)
Exam Questions + Verified &
Rationalized Answers | A+ Graded
100% Guarantee Pass
This Exam contains: M100 COMMUNITY
✓ ASSOCIATION MANAGEMENT EXAM
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
Trusted by thousands of students and professionals worldwide Page 1 of 91
,Question 1
True or false. A good resource for identifying potential contractors are referrals from supply firms doing business
with the community association.
Correct Answer
True
A manager can obtain the names of potential contractors for a specific job from referrals from supply firms doing
business with the community association. Before a manager sends a contractor a bid request, he or she should
call first to see if the company is interested in bidding. He or she should avoid sending out bid requests and
waiting for a response—only to find out that none of the receivers were interested or available.
Question 2
Contractual transfers
Correct Answer
This involves entering into a contract that will, among other things, transfer the community association's legal
responsibility for any loss. An example would be contracting for landscape services, instead of using community
association employees, and incorporating clauses such as a hold harmless provision in the contract, or the
association contracts with a community association management company. Contractual transfers are a type of risk
control activity.
Question 3
Which of the following is not a common insurance coverage and endorsement for property exposures to loss?
a. commercial package policy (CPP) insurance
b. boiler and machinery insurance
c. flood insurance
d. hired and non-owned automobile liability insurance
Correct Answer
d. hired and non-owned automobile liability insurance
Common insurance coverages and endorsements for property exposures to loss include commercial package policy
insurance, boiler and machinery insurance, building ordinance insurance, flood insurance, and electronic data
processing. Hired and non-owned automobile liability insurance, a common insurance coverage and endorsement
for liability exposures to loss, covers legal claims arising out of the use of automobiles that are not owned by the
community association, but that are used while acting on behalf of the association.
Trusted by thousands of students and professionals worldwide Page 2 of 91
,Question 4
True or false. If a community association has just one part-time employee, it doesn't need a written personnel
manual or employee handbook.
Correct Answer
False
Even if a community association has just one part-time employee, it should have a written set of policies and
procedures that define the relationship between the community association and the employee and that explain the
rights and responsibilities of both the employer and the employee. The content and wording of any manual or
handbook have legal ramifications. As a result, a personnel specialist or attorney should be directly involved in the
adoption of a personnel manual or employee handbook.
Question 5
True or false. It is perfectly acceptable to hold a board meeting in the home of the association president.
Correct Answer
False
If a community association does not have a meeting room, board meetings should be scheduled in public places.
Avoid meetings in homes of board members, as the space will not always be adequate. Nor is a board member's
home a public and neutral site that will encourage owners' attendance.
Question 6
Hearing notice
Correct Answer
A written notice to an alleged violator that a hearing will be held to consider his or her alleged violation. Issuing a
hearing notice is one of the steps in a due process procedure for enforcing rules. A hearing notice may contain the
nature of the alleged violation, the action requested to cure the alleged violation, the time and place of a hearing,
an invitation to attend the hearing and produce any statement, evidence or witnesses on his or her behalf, a
statement that a sanction may be imposed, and the maximum amount of any sanction.
Question 7
Each of the following are key characteristics of community associations 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 community association is mandatory and automatic for all owners.
c. A requirement of community association ownership is serving on the board of directors.
d. Certain documents bind all owners to be governed by the community association.
Correct Answer
c. A requirement of community association ownership is serving on the board of directors.
This is one of the three key characteristics common to all community associations. Members of an association are
not legally required to serve on the board of directors; however, the overall success on the community is
dependent upon the members' involvement its affairs.
Trusted by thousands of students and professionals worldwide Page 3 of 91
, Question 8
Each of the following statements regarding community association assessments are true EXCEPT:
a. Assessments penalize residents for violating association rules
b. An assessment is the owner's financial obligation to the community association during a given period of time
c. An assessment for an owner's share of the common expenses is a binding legal obligation based on the
community association's governing documents
d. An annual assessment may be paid on a monthly, quarterly, or annual basis
Correct Answer
a. Assessments penalize residents for violating association rules
Assessments are not a penalty or fine for residents who violate association rules. Instead, assessments cover an
owner's share of the common expenses, and are one of the three defining characteristics of all community
associations.
Question 9
Liabilities
Correct Answer
One of the three major components of a balance sheet. Liabilities consist of what is owed to others or collected in
advance (e.g., owner assessments received prior to the billed month, accounts payable, etc.). A balance sheet also
contains assets and members equity (or fund balance).
Question 10
True or false. The declaration or master deed often includes a maintenance schedule for particular assets.
Correct Answer
True
Managers should research legal documents to identify the physical assets their community association is
responsible for maintaining. State statutes, board resolutions, and governing documents all often discuss
maintenance of physical assets. In particular, the declaration or master deed will frequently include a maintenance
schedule for particular assets.
Question 11
Turnover
Correct Answer
That date upon which homeowners gain control of their association from the developer. Typically, turnover occurs
at an annual or special meeting of the homeowners.
Trusted by thousands of students and professionals worldwide Page 4 of 91
