M100 Study Guide Updated Actual Question
and Answer (2026/2027) | A+ Verified
• 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 ANSWER: Owns stock/holds lease
• Types of community associations . CORRECT ANSWER: Master/umbrella,
Mixed use development, 55 and older
• Association derives legal obligation from . CORRECT ANSWER: Federal, state and
local laws- legal documents, lender requirements, standards set by professional bodies
• EEOC . CORRECT ANSWER: Equal employment opportunity commission
• Equal employment opportunity commission . CORRECT ANSWER: Prohibits
discrimination in hiring, promoting, etc.
• FLSA . CORRECT ANSWER: Fair Labor Standards Act
• Fair Labor Standards Act . CORRECT ANSWER: Dictates standards for minimum
wage
• FMLA . CORRECT ANSWER: Family Medical Leave Act
• Family Medical Leave Act . CORRECT ANSWER: Provides for unpaid leave for
various medical issues
• FICA . CORRECT ANSWER: Federal Insurance Contributions Act
• OSHA . CORRECT ANSWER: Occupy Safety Health Act
• Occupy Safety Health Act . CORRECT ANSWER: Outlines safety guidelines for
employees
, • FCC . CORRECT ANSWER: Federal Communications Commission
• Federal Communications Commission . CORRECT ANSWER: Regulates what
restrictions associations have on antennas and satellite dishes
• State statues . CORRECT ANSWER: General, specific, uniform
• General state statutes . CORRECT ANSWER: Apply to all organizations
• Specific state statutes . CORRECT ANSWER: Apply to only one or more types of
community associations
• Uniform state statutes . CORRECT ANSWER: Standardize laws in various states that
affect community associations
• Hierarchy of governing documents . CORRECT ANSWER: Plat
Declarations
Articles
Bylaws
Rules
• Bundle of rights . CORRECT ANSWER: Declaration, CCR, master deed
• What trumps articles? . CORRECT ANSWER: Declaration
• Plat/map . CORRECT ANSWER: Shows precise location of each lot or unit
• Declaration, CCRS, master deed . CORRECT ANSWER: Establish the chain of title
and rights of ownership for each piece of real estate
• Proprietary lease . CORRECT ANSWER: Defines member or stockholders right and
obligations in a relative to the living unit
• Articles of incorporation . CORRECT ANSWER: Documents that establish the
corporation
• Bylaws . CORRECT ANSWER: Formally adopted regulations for the administrative
and management of a community association
• Resolution . CORRECT ANSWER: Motion that follow a swell format and is formally
adopted by the BOD
• public offering statement . CORRECT ANSWER: Disclosure statement- not apart of
the governing documents
and Answer (2026/2027) | A+ Verified
• 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 ANSWER: Owns stock/holds lease
• Types of community associations . CORRECT ANSWER: Master/umbrella,
Mixed use development, 55 and older
• Association derives legal obligation from . CORRECT ANSWER: Federal, state and
local laws- legal documents, lender requirements, standards set by professional bodies
• EEOC . CORRECT ANSWER: Equal employment opportunity commission
• Equal employment opportunity commission . CORRECT ANSWER: Prohibits
discrimination in hiring, promoting, etc.
• FLSA . CORRECT ANSWER: Fair Labor Standards Act
• Fair Labor Standards Act . CORRECT ANSWER: Dictates standards for minimum
wage
• FMLA . CORRECT ANSWER: Family Medical Leave Act
• Family Medical Leave Act . CORRECT ANSWER: Provides for unpaid leave for
various medical issues
• FICA . CORRECT ANSWER: Federal Insurance Contributions Act
• OSHA . CORRECT ANSWER: Occupy Safety Health Act
• Occupy Safety Health Act . CORRECT ANSWER: Outlines safety guidelines for
employees
, • FCC . CORRECT ANSWER: Federal Communications Commission
• Federal Communications Commission . CORRECT ANSWER: Regulates what
restrictions associations have on antennas and satellite dishes
• State statues . CORRECT ANSWER: General, specific, uniform
• General state statutes . CORRECT ANSWER: Apply to all organizations
• Specific state statutes . CORRECT ANSWER: Apply to only one or more types of
community associations
• Uniform state statutes . CORRECT ANSWER: Standardize laws in various states that
affect community associations
• Hierarchy of governing documents . CORRECT ANSWER: Plat
Declarations
Articles
Bylaws
Rules
• Bundle of rights . CORRECT ANSWER: Declaration, CCR, master deed
• What trumps articles? . CORRECT ANSWER: Declaration
• Plat/map . CORRECT ANSWER: Shows precise location of each lot or unit
• Declaration, CCRS, master deed . CORRECT ANSWER: Establish the chain of title
and rights of ownership for each piece of real estate
• Proprietary lease . CORRECT ANSWER: Defines member or stockholders right and
obligations in a relative to the living unit
• Articles of incorporation . CORRECT ANSWER: Documents that establish the
corporation
• Bylaws . CORRECT ANSWER: Formally adopted regulations for the administrative
and management of a community association
• Resolution . CORRECT ANSWER: Motion that follow a swell format and is formally
adopted by the BOD
• public offering statement . CORRECT ANSWER: Disclosure statement- not apart of
the governing documents
