CMCA STUDY GUIDE NEWEST VERSION REAL EXAM 270 QUESTIONS
AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE||BRAND NEW
VERSION 2026!!
Articles of incorporation - CORRECT ANSWERS-Bring the corporation into
existence, define its basic
purposes and powers, indicate whether stock will be issued, and indicate whether
there will be a board
of directors
Bylaws - CORRECT ANSWERS-Formally adopted governing regulations for the
administration and management of a community association
CC & Rs (Covenants, Conditions & Restrictions) - CORRECT ANSWERS-The
governing documents that
dictate how the homeowners association operates and what rules the owners—
and their tenants and guests —
must obey. These legal documents might also be called
the bylaws, the master deed, the houses rules or another name. These documents
and rules are legally enforceable by the homeowners association, unless a specific
provision conflicts with federal, state or local laws
Community association - CORRECT ANSWERS-A group of owners who wish to
provide a communal basis for preserving, maintaining, and enhancing their homes
and property
,Condominium - CORRECT ANSWERS-A living unit fully owned by an individual
with an undivided interest in the common elements of the community. The
community association itself owns no
real estate as an association
Cooperative - CORRECT ANSWERS-Wherein an individual owns stock or
membership in the cooperative, and holds a proprietary lease or occupancy
agreement for his or her living unit
Declaration - CORRECT ANSWERS-Used interchangeably with CC & Rs
Governing documents - CORRECT ANSWERS-Documents which provide for the
legal structure and
operation of the community
Indemnification - CORRECT ANSWERS-to exempt an individual or entity from
responsibility for claims made against the organization and to reimburse the
individual or entity for damages or expenses incurred as a result of such claims
Master association - CORRECT ANSWERS-An organization of homeowners in a
large condominium or planned unit development (PUD) which includes
representatives from other, smaller
homeowner organizations
Mixed use development - CORRECT ANSWERS-A development which is
designed to mix two or more
"uses" of land together (i.e. a shopping center which offers office space for
dentists)
, Planned community - CORRECT ANSWERS-the most common type of
community association, where an owner owns his or her lot and/or living unit and
the community owns any common areas, such as tennis courts and roads for the
use and benefit of the lot owners
Proprietary lease - CORRECT ANSWERS-A rental agreement between a
cooperative housing corporation and a share holder allowing use of a certain unit
in the premises
Public offering statement - CORRECT ANSWERS-A disclosure statement
prepared by a developer that
contains all material facts about a property offered for sale and that must be
provided to a prospective purchaser in accordance with applicable state or federal
law
Resolution - CORRECT ANSWERS-A motion that follows a set format and is
formally adopted by the board of directors
Statute - CORRECT ANSWERS-A formal written enactment of a legislative
authority that governs a country, state, city or county
Umbrella association - CORRECT ANSWERS-A cluster of community
association types that can include aspects of homeowners associations,
condominiums and cooperatives
Ad hoc committee - CORRECT ANSWERS-Used when an objective needs
consideration and no standing
AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE||BRAND NEW
VERSION 2026!!
Articles of incorporation - CORRECT ANSWERS-Bring the corporation into
existence, define its basic
purposes and powers, indicate whether stock will be issued, and indicate whether
there will be a board
of directors
Bylaws - CORRECT ANSWERS-Formally adopted governing regulations for the
administration and management of a community association
CC & Rs (Covenants, Conditions & Restrictions) - CORRECT ANSWERS-The
governing documents that
dictate how the homeowners association operates and what rules the owners—
and their tenants and guests —
must obey. These legal documents might also be called
the bylaws, the master deed, the houses rules or another name. These documents
and rules are legally enforceable by the homeowners association, unless a specific
provision conflicts with federal, state or local laws
Community association - CORRECT ANSWERS-A group of owners who wish to
provide a communal basis for preserving, maintaining, and enhancing their homes
and property
,Condominium - CORRECT ANSWERS-A living unit fully owned by an individual
with an undivided interest in the common elements of the community. The
community association itself owns no
real estate as an association
Cooperative - CORRECT ANSWERS-Wherein an individual owns stock or
membership in the cooperative, and holds a proprietary lease or occupancy
agreement for his or her living unit
Declaration - CORRECT ANSWERS-Used interchangeably with CC & Rs
Governing documents - CORRECT ANSWERS-Documents which provide for the
legal structure and
operation of the community
Indemnification - CORRECT ANSWERS-to exempt an individual or entity from
responsibility for claims made against the organization and to reimburse the
individual or entity for damages or expenses incurred as a result of such claims
Master association - CORRECT ANSWERS-An organization of homeowners in a
large condominium or planned unit development (PUD) which includes
representatives from other, smaller
homeowner organizations
Mixed use development - CORRECT ANSWERS-A development which is
designed to mix two or more
"uses" of land together (i.e. a shopping center which offers office space for
dentists)
, Planned community - CORRECT ANSWERS-the most common type of
community association, where an owner owns his or her lot and/or living unit and
the community owns any common areas, such as tennis courts and roads for the
use and benefit of the lot owners
Proprietary lease - CORRECT ANSWERS-A rental agreement between a
cooperative housing corporation and a share holder allowing use of a certain unit
in the premises
Public offering statement - CORRECT ANSWERS-A disclosure statement
prepared by a developer that
contains all material facts about a property offered for sale and that must be
provided to a prospective purchaser in accordance with applicable state or federal
law
Resolution - CORRECT ANSWERS-A motion that follows a set format and is
formally adopted by the board of directors
Statute - CORRECT ANSWERS-A formal written enactment of a legislative
authority that governs a country, state, city or county
Umbrella association - CORRECT ANSWERS-A cluster of community
association types that can include aspects of homeowners associations,
condominiums and cooperatives
Ad hoc committee - CORRECT ANSWERS-Used when an objective needs
consideration and no standing
