CMCA: M100 Review
55 and Older Community - ANS-Must have one character who's fifty five or older in at least
eighty% of the occupied devices to legally restriction children and restriction occupancy
Administrative resolution - ANS-Affects inner operations of the network association (e.G., where
board meetings are held)
Administrative Resolutions - ANS-Affect inner operations and commonly cope with ambiguities
in the bylaws
Adoption of the once a year budget is an example of which of the subsequent styles of
resolutions? A. Policy decision b. Administrative decision c. Special decision d. General
decision - ANS-d. General decision.
Articles of incorporation - ANS-Documents that set up the agency
Articles of Incorporation - ANS-Documents that establish the agency
Association derives prison duty from - ANS-Federal, nation and neighborhood legal guidelines,
legal files, lender necessities, standards set through professional bodies
Basic sorts of network affiliation - ANS-Planned groups, condo, and cooperatives
Benefits of Incorporating - ANS-Limits liability, permits borrowing cash, makes it less difficult to
deal with contractors
Benefits of incorporating - ANS-Limits liability, Makes it simpler to cope with contractors
Bundle of rights - ANS-Declaration, CCR, grasp deed
Bylaws - ANS-Formally adopted rules for the management and control of the association
Bylaws - ANS-Formally adopted rules for the executive and control of a network association
Community Association - ANS-Mandatory memberships, at the same time binding contracts,
lien-primarily based checks
Complete the following sentence: A _______ nation statute is one which applies best to 1 or
more kinds of network institutions. A. Standard b. Complex c. Particular d. Uniform - ANS-c.
Particular. A particular country statute is one which applies handiest to sure kinds of network
, institutions. For example, many states have a rental act that provides for the establishment and
operation of condominiums as legal entities. These acts range in complexity, with the best
bearing in mind the creation of condominiums.
Complete the following sentence: The ________ carry the community affiliation into existence,
define its fundamental purposes and powers, and indicate whether or not stock may be issued.
A. Recorded map, plat, or plan b. Assertion, CC&Rs, or master deed c. Proprietary lease or
occupancy agreement d. Articles of incorporation - ANS-d. Articles of incorporation. A network
affiliation's corporate shape is hooked up when a developer sets up the affiliation by means of
submitting articles of incorporation.
Complete the following sentence: The board of administrators in a community affiliation has a
________ to behave in the nice pursuits and for the advantage of the network as a whole. A.
Bond b. Fiduciary responsibility c. Ballot d. Quorum - ANS-b. Fiduciary obligation. The board's
fiduciary duty includes additives: (1) heading off conflicts of interest and appearing out of
self-interest, and (2) handling the affiliation's affairs as affordable human beings might.
Condominium - ANS-Owner of his/her unit
Cooperative - ANS-Owns inventory/holds lease
Declaration, CCRS, grasp deed - ANS-Establish the chain of title and rights of ownership for
each piece of actual estate
Declarations, CC&Rs, or Master Deeds - ANS-Establish the chain of name and rights of
ownership for every piece of real estate
Definition of a Community Association - ANS-Community institutions have 3 awesome traits:
Mandatory Membership, Mutually Binding Documents, and Lien-Based Assessments
Each of the subsequent prison resources specify management authority and responsibilities for
community associations EXCEPT: a. Survey data b. Country statutes c. Network association
governing files d. Court selections - ANS-a. Survey information. Legal assets such as statutes,
governing documents, and court docket choices define the authority or powers of different
events in a network association.
EEOC - ANS-Equal Employment Opportunity Commission
EEOC (Equal Employment Opportunity Commission) - ANS-Prohibits discrimination in hiring,
promoting, dismissal, and so forth.
Equal Employment Opportunity Commission - ANS-Prohibits discrimination in hiring, selling, etc.
55 and Older Community - ANS-Must have one character who's fifty five or older in at least
eighty% of the occupied devices to legally restriction children and restriction occupancy
Administrative resolution - ANS-Affects inner operations of the network association (e.G., where
board meetings are held)
Administrative Resolutions - ANS-Affect inner operations and commonly cope with ambiguities
in the bylaws
Adoption of the once a year budget is an example of which of the subsequent styles of
resolutions? A. Policy decision b. Administrative decision c. Special decision d. General
decision - ANS-d. General decision.
Articles of incorporation - ANS-Documents that set up the agency
Articles of Incorporation - ANS-Documents that establish the agency
Association derives prison duty from - ANS-Federal, nation and neighborhood legal guidelines,
legal files, lender necessities, standards set through professional bodies
Basic sorts of network affiliation - ANS-Planned groups, condo, and cooperatives
Benefits of Incorporating - ANS-Limits liability, permits borrowing cash, makes it less difficult to
deal with contractors
Benefits of incorporating - ANS-Limits liability, Makes it simpler to cope with contractors
Bundle of rights - ANS-Declaration, CCR, grasp deed
Bylaws - ANS-Formally adopted rules for the management and control of the association
Bylaws - ANS-Formally adopted rules for the executive and control of a network association
Community Association - ANS-Mandatory memberships, at the same time binding contracts,
lien-primarily based checks
Complete the following sentence: A _______ nation statute is one which applies best to 1 or
more kinds of network institutions. A. Standard b. Complex c. Particular d. Uniform - ANS-c.
Particular. A particular country statute is one which applies handiest to sure kinds of network
, institutions. For example, many states have a rental act that provides for the establishment and
operation of condominiums as legal entities. These acts range in complexity, with the best
bearing in mind the creation of condominiums.
Complete the following sentence: The ________ carry the community affiliation into existence,
define its fundamental purposes and powers, and indicate whether or not stock may be issued.
A. Recorded map, plat, or plan b. Assertion, CC&Rs, or master deed c. Proprietary lease or
occupancy agreement d. Articles of incorporation - ANS-d. Articles of incorporation. A network
affiliation's corporate shape is hooked up when a developer sets up the affiliation by means of
submitting articles of incorporation.
Complete the following sentence: The board of administrators in a community affiliation has a
________ to behave in the nice pursuits and for the advantage of the network as a whole. A.
Bond b. Fiduciary responsibility c. Ballot d. Quorum - ANS-b. Fiduciary obligation. The board's
fiduciary duty includes additives: (1) heading off conflicts of interest and appearing out of
self-interest, and (2) handling the affiliation's affairs as affordable human beings might.
Condominium - ANS-Owner of his/her unit
Cooperative - ANS-Owns inventory/holds lease
Declaration, CCRS, grasp deed - ANS-Establish the chain of title and rights of ownership for
each piece of actual estate
Declarations, CC&Rs, or Master Deeds - ANS-Establish the chain of name and rights of
ownership for every piece of real estate
Definition of a Community Association - ANS-Community institutions have 3 awesome traits:
Mandatory Membership, Mutually Binding Documents, and Lien-Based Assessments
Each of the subsequent prison resources specify management authority and responsibilities for
community associations EXCEPT: a. Survey data b. Country statutes c. Network association
governing files d. Court selections - ANS-a. Survey information. Legal assets such as statutes,
governing documents, and court docket choices define the authority or powers of different
events in a network association.
EEOC - ANS-Equal Employment Opportunity Commission
EEOC (Equal Employment Opportunity Commission) - ANS-Prohibits discrimination in hiring,
promoting, dismissal, and so forth.
Equal Employment Opportunity Commission - ANS-Prohibits discrimination in hiring, selling, etc.
