CMCA Practice Exam |146 questions| with correct answers

Quorum requirements conflicts are resolved by: a. state statute b. the board of directors c. a vote of those present at a meeting d. appointment of a person as a proxy CORRECT ANSWER A Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the reserve accounts. d. association will recover any funds lost through employee dishonesty CORRECT ANSWER D Which types of management is the process of operating, maintaining, repairing, and replacing common property? a. human resources b. facilities c. financial d. risk CORRECT ANSWER B The higher a document's place in the hierarchy, the: a. harder it is to implement b. greater its power with the board c. more it is regulated legally d. great its legal weight in a court of law CORRECT ANSWER D Based on which type of requirements would you choose a