M-100 The Essentials of Community Association Management Exam Questions and
Verified Answers 2026/27 Graded A+
Community Association - 1. Mandatory membership
2. mutually binded documents
3. lien based assessments
planned community - an owner owns his or her lot and or living unit. the community owns
any commons areas, such as tennis courts and the roads for the use and benefits of the lot owners
condominiums - the individual owns his or her unit and an undivided interest in the
common elements of the community
Cooperative -
Spcialized comm. assoc - master or umbrella
a. made up of more than one residential community association
Mixed-use development - mixture of residential/commercial/ industrial use space
General state statute - apply to all organizations including community associations
Specific state statute - apply to one or more types of community associations
, Uniform state statutes - crated to standardize laws in various states that affect community
associations
States of Authority - 1. State statues and court decisions
2. governing documents
3. board of directors
4. owners (limited)
Due Process Procedure - A formal process designed to protect the rights of all parties
involved.
Alternative dispute resolution - Includes mediation, arbitration, and other ways of
resolving conflicts with the help of a specially trained, neutral third party without the need for a
formal trial or hearing.
Performance bond - guarantee by a surety (third party) to protect the community
association if the contractor fails to preform or finish the work
Bylaws - formal procedures for administration and management of the governing entry.
A. board member elections
b. member voting rights
c. celling and conducting meetings
d. duties of the board members
Verified Answers 2026/27 Graded A+
Community Association - 1. Mandatory membership
2. mutually binded documents
3. lien based assessments
planned community - an owner owns his or her lot and or living unit. the community owns
any commons areas, such as tennis courts and the roads for the use and benefits of the lot owners
condominiums - the individual owns his or her unit and an undivided interest in the
common elements of the community
Cooperative -
Spcialized comm. assoc - master or umbrella
a. made up of more than one residential community association
Mixed-use development - mixture of residential/commercial/ industrial use space
General state statute - apply to all organizations including community associations
Specific state statute - apply to one or more types of community associations
, Uniform state statutes - crated to standardize laws in various states that affect community
associations
States of Authority - 1. State statues and court decisions
2. governing documents
3. board of directors
4. owners (limited)
Due Process Procedure - A formal process designed to protect the rights of all parties
involved.
Alternative dispute resolution - Includes mediation, arbitration, and other ways of
resolving conflicts with the help of a specially trained, neutral third party without the need for a
formal trial or hearing.
Performance bond - guarantee by a surety (third party) to protect the community
association if the contractor fails to preform or finish the work
Bylaws - formal procedures for administration and management of the governing entry.
A. board member elections
b. member voting rights
c. celling and conducting meetings
d. duties of the board members
