CMCA 54 EXAM ACTUAL TEST PAPER QUESTIONS CORRECT ANSWERS GRADED A PLUS
CMCA 54 EXAM Latest Exam Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
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.
Answer:
A
Question:
2. Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary
obligations. b. manager will faithfully follow all document provisions. c. deductible in the
association's insurance policies is reimbursed. d. association will be covered for shortfalls in the
reserve accounts. e. association will recover any funds lost through employee dishonesty.
Answer:
E
Question:
3. Which type of management is the process of operating, maintaining, repairing, and replacing
common property? a. Human Resources b. Facilities c. Financial d. Risk
Answer:
B
Question:
4. 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. greater its legal weight in a court of law.
Answer:
D
, Question:
5. Based on which type of requirements would you choose a contractor over the association to
complete work? a. Low urgency, costs adequate tools available b. High urgency, low supervision
and training possibly needed c. Requires supervision, expertise required and low urgency d. Low
Costs, high urgency and borrowed tools
Answer:
C
Question:
6. Who is required to be present for an annual association membership meeting to conduct business?
a. The treasurer and the secretary b. A quorum of the board of directors c. All members of the board
of directors d. A quorum of the members
Answer:
D Which of the following would a condominium unit member's personal insurance policy cover
when it is the primary insurance policy? a. Wind damage to the roof of the member's unit. b. Bodily
injury due to a slip and fall in the common area in front of the member's unit. c. Bodily injury due to
the association using the member's automobile. d. Bodily injury due to a slip and fall within a
member's unit. e. Fire damage to the association's unimproved common walls. -✓✓D
Question:
8. Community association governing documents and state statutes may require who to be involved
in preparing annual reports? a. A CPA b. The owners c. An ad hoc committee d. The management
company
Answer:
A
Question:
9. What is a typical management control used to identify physical assets? a. Checklist b. Charts of
information c. Inventory d. Calendar or schedule
Answer:
CMCA 54 EXAM Latest Exam Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
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.
Answer:
A
Question:
2. Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary
obligations. b. manager will faithfully follow all document provisions. c. deductible in the
association's insurance policies is reimbursed. d. association will be covered for shortfalls in the
reserve accounts. e. association will recover any funds lost through employee dishonesty.
Answer:
E
Question:
3. Which type of management is the process of operating, maintaining, repairing, and replacing
common property? a. Human Resources b. Facilities c. Financial d. Risk
Answer:
B
Question:
4. 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. greater its legal weight in a court of law.
Answer:
D
, Question:
5. Based on which type of requirements would you choose a contractor over the association to
complete work? a. Low urgency, costs adequate tools available b. High urgency, low supervision
and training possibly needed c. Requires supervision, expertise required and low urgency d. Low
Costs, high urgency and borrowed tools
Answer:
C
Question:
6. Who is required to be present for an annual association membership meeting to conduct business?
a. The treasurer and the secretary b. A quorum of the board of directors c. All members of the board
of directors d. A quorum of the members
Answer:
D Which of the following would a condominium unit member's personal insurance policy cover
when it is the primary insurance policy? a. Wind damage to the roof of the member's unit. b. Bodily
injury due to a slip and fall in the common area in front of the member's unit. c. Bodily injury due to
the association using the member's automobile. d. Bodily injury due to a slip and fall within a
member's unit. e. Fire damage to the association's unimproved common walls. -✓✓D
Question:
8. Community association governing documents and state statutes may require who to be involved
in preparing annual reports? a. A CPA b. The owners c. An ad hoc committee d. The management
company
Answer:
A
Question:
9. What is a typical management control used to identify physical assets? a. Checklist b. Charts of
information c. Inventory d. Calendar or schedule
Answer:
