M100 EXAM QUESTIONS WITH 100- COMPLETE SOLUTIONS

M100 EXAM QUESTIONS WITH 100%
COMPLETE SOLUTIONS
Community Association - CORRECT ANSWER✔✔-Mandatory memberships,
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mutually binding contracts, lien-based assements
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Purpose of community association - CORRECT ANSWER✔✔-Provide for the
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community, business, and governance aspects of the association
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Basic types of community association - CORRECT ANSWER✔✔-Planned
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communities, condominium, and cooperatives | | |




Planned community - CORRECT ANSWER✔✔-HOA, owner association
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Condominium - CORRECT ANSWER✔✔-Owner of his/her unit
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Cooperative - CORRECT ANSWER✔✔-Owns stock/holds lease
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Types of community associations - CORRECT ANSWER✔✔-Master/umbrella,
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Mixed use development, 55 and older
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Association derives legal obligation from - CORRECT ANSWER✔✔-Federal, state
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and local laws- legal documents, lender requirements, standards set by
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professional bodies |

,EEOC - CORRECT ANSWER✔✔-Equal employment opportunity commission
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Equal employment opportunity commission - CORRECT ANSWER✔✔-Prohibits
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discrimination in hiring, promoting, etc.
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FLSA - CORRECT ANSWER✔✔-Fair Labor Standards Act
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Fair Labor Standards Act - CORRECT ANSWER✔✔-Dictates standards for minimum
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wage
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FMLA - CORRECT ANSWER✔✔-Family Medical Leave Act
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Family Medical Leave Act - CORRECT ANSWER✔✔-Provides for unpaid leave for
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various medical issues | |




FICA - CORRECT ANSWER✔✔-Federal Insurance Contributions Act
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OSHA - CORRECT ANSWER✔✔-Occupy Safety Health Act
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Occupy Safety Health Act - CORRECT ANSWER✔✔-Outlines safety guidelines for
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employees


FCC - CORRECT ANSWER✔✔-Federal Communications Commission
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, Federal Communications Commission - CORRECT ANSWER✔✔-Regulates what
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restrictions associations have on antennas and satellite dishes
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State statues - CORRECT ANSWER✔✔-General, specific, uniform
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General state statutes - CORRECT ANSWER✔✔-Apply to all organizations
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Specific state statutes - CORRECT ANSWER✔✔-Apply to only one or more types
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of community associations
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Uniform state statutes - CORRECT ANSWER✔✔-Standardize laws in various states
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that affect community associations
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Hierarchy of governing documents - CORRECT ANSWER✔✔-Plat
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Declarations |




Articles
Bylaws
Rules


Bundle of rights - CORRECT ANSWER✔✔-Declaration, CCR, master deed
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What trumps articles? - CORRECT ANSWER✔✔-Declaration
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Plat/map - CORRECT ANSWER✔✔-Shows precise location of each lot or unit
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