M100 Exam Study Guide: Updated Solution : Guaranteed A+ Guide

Community Association (Ans- Mandatory memberships, mutually binding contracts, lien-based assessments Purpose of community association (Ans- Provide for the community, business, and governance aspects of the association Basic types of community association (Ans- Planned communities, condominium, and cooperatives Planned community (Ans- HOA, owner association Condominium (Ans- Owner of his/her unit Cooperative (Ans- Owns stock/holds lease Types of community associations (Ans- Master/umbrella, Mixed use development, 55 and older Association derives legal obligation from (Ans- Federal, state and local laws- legal documents, lender requirements, standards set by professional bodies EEOC (Ans- Equal employment opportunity commission Equal employment opportunity commission (Ans- Prohibits discrimination in hiring, promoting, etc. FLSA