M100 QUIZ WITH COMPLETE SOLUTIONS
Each of the following are key characteristics of a community association EXCEPT:
| | | | | | | | | | | |
A. Mandatory lien-based economic charges or assessments are levied on each
| | | | | | | | | | |
owner in order to operate and maintain the community association.
| | | | | | | | | |
B. Membership in the ca is mandatory and automatic for all owners.
| | | | | | | | | | | |
C. A requirement of ca ownership is attending board meetings
| | | | | | | | |
D. Certain documents bind all owners to be governed by the community. -
| | | | | | | | | | | | |
CORRECT ANSWER✔✔-C. A requirement of community association ownership is
| | | | | | | | |
attending board meetings. | |
True or False. The primary purpose of a community association is to provide for
| | | | | | | | | | | | | |
the governance, business, and communal aspects of the association. - CORRECT
| | | | | | | | | | |
ANSWER✔✔-True
Each of the following are basic types of residential community associations
| | | | | | | | | |
EXCEPT:
a. Planned community
| |
b. Townhouse
|
c. Cooperative
|
d. Condominium - CORRECT ANSWER✔✔-b. Townhouse
| | | | |
Adoption of the annual budget is an example of which of the following type of
| | | | | | | | | | | | | | |
resolution?
, a. policy resolution
| |
b. administrative resolution
| |
c. special resolution
| |
d. general resolution - CORRECT ANSWER✔✔-D. General
| | | | | |
True or false. The purpose of a community association's governing documents is
| | | | | | | | | | | |
to
provide for the legal structure and operation of the community. - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-True
True or false. According to the general hierarchy of authority for governing
| | | | | | | | | | | |
documents, the bylaws would control in a conflict with the recorded map, plat, or
| | | | | | | | | | | | |
plan. - CORRECT ANSWER✔✔-False
| | |
Complete the following sentence: A __________ state statute is one that applies
| | | | | | | | | | | |
only
to one or more types of community associations.
| | | | | | |
a. general
|
b. complex
|
c. specific
|
d. uniform - CORRECT ANSWER✔✔-C. Specific
| | | | |
True or false. A proprietary lease or occupancy agreement in a cooperative
| | | | | | | | | | | |
defines
Each of the following are key characteristics of a community association EXCEPT:
| | | | | | | | | | | |
A. Mandatory lien-based economic charges or assessments are levied on each
| | | | | | | | | | |
owner in order to operate and maintain the community association.
| | | | | | | | | |
B. Membership in the ca is mandatory and automatic for all owners.
| | | | | | | | | | | |
C. A requirement of ca ownership is attending board meetings
| | | | | | | | |
D. Certain documents bind all owners to be governed by the community. -
| | | | | | | | | | | | |
CORRECT ANSWER✔✔-C. A requirement of community association ownership is
| | | | | | | | |
attending board meetings. | |
True or False. The primary purpose of a community association is to provide for
| | | | | | | | | | | | | |
the governance, business, and communal aspects of the association. - CORRECT
| | | | | | | | | | |
ANSWER✔✔-True
Each of the following are basic types of residential community associations
| | | | | | | | | |
EXCEPT:
a. Planned community
| |
b. Townhouse
|
c. Cooperative
|
d. Condominium - CORRECT ANSWER✔✔-b. Townhouse
| | | | |
Adoption of the annual budget is an example of which of the following type of
| | | | | | | | | | | | | | |
resolution?
, a. policy resolution
| |
b. administrative resolution
| |
c. special resolution
| |
d. general resolution - CORRECT ANSWER✔✔-D. General
| | | | | |
True or false. The purpose of a community association's governing documents is
| | | | | | | | | | | |
to
provide for the legal structure and operation of the community. - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-True
True or false. According to the general hierarchy of authority for governing
| | | | | | | | | | | |
documents, the bylaws would control in a conflict with the recorded map, plat, or
| | | | | | | | | | | | |
plan. - CORRECT ANSWER✔✔-False
| | |
Complete the following sentence: A __________ state statute is one that applies
| | | | | | | | | | | |
only
to one or more types of community associations.
| | | | | | |
a. general
|
b. complex
|
c. specific
|
d. uniform - CORRECT ANSWER✔✔-C. Specific
| | | | |
True or false. A proprietary lease or occupancy agreement in a cooperative
| | | | | | | | | | | |
defines
