M100 COMMUNITY ASSOCIATION MANAGEMENT UPDATED SCRIPT 2026 PRACTICE SOLUTIONS GRADED A+

M100 COMMUNITY ASSOCIATION
MANAGEMENT EXAMINATION TEST 2026
COMPLETE QUESTIONS AND ANSWERS
GRADED A+

◉ Purposes of a Community Association. Answer: Business - Not for
profit
Government - Runs like a mini-government
Community - Mutual reasons for buying into area


◉ 3 Basic Types of Community Associations. Answer: Planned
Community - Owners owns his lot/living unit and community owns
common areas (tennis courts, basketball courts, etc.).
Condominium - Individual owns unit and undivided interest
(percentage) in common elements.
Cooperative - Individual owns stock or membership in cooperative
and holds a proprietary lease/occupancy agreement.


◉ Community associations can be grouped into clusters called:.
Answer: Master or Umbrella Associations - More than one
residential community.
Mixed-Use Development - Mixture of residential and commercial.

, "55 and Older" Communities - 80% of residents are 55+ and at least
one per unit.


◉ Name the sources of legal obligations for a Community
Association. Answer: Federal, state and local statutes, regulations
and case law.
Governing documents
Standards set by professional bodies (AICPA)
Lender requirements


◉ Types of Federal Law Applying to Community Associations.
Answer: Equal Employment Opportunity Commission
Fair Debt Collection Practices Act
Fair Labor and Standards Act
Family and Medical Leave Act
FICA
OSHA
Bankruptcy Code
FCC
Fair Housing Act


◉ Types of State Statutes Applying to Community Associations.
Answer: General - Applies to all types of associations