CMCA M100 ACTUAL EXAM PAPER 2026
QUESTIONS AND SOLUTIONS GRADED A
PLUS
◉ Purposes of a Community Association
Answer: Business - Not for profit
Government - Runs like a mini-government
Community - Mutual reasons for buying into area
◉ 3 Basic Types of Community Associations
Answer: Planned Community - Owners owns his lot/living unit and
community owns common areas (tennis courts, basketball courts,
etc.).
Condominium - Individual owns unit and undivided interest
(percentage) in common elements.
Cooperative - Individual owns stock or membership in cooperative
and holds a proprietary lease/occupancy agreement.
◉ Community associations can be grouped into clusters called:
Answer: Master or Umbrella Associations - More than one
residential community.
, Mixed-Use Development - Mixture of residential and commercial.
"55 and Older" Communities - 80% of residents are 55+ and at least
one per unit.
◉ Name the sources of legal obligations for a Community
Association
Answer: Federal, state and local statutes, regulations and case law.
Governing documents
Standards set by professional bodies (AICPA)
Lender requirements
◉ Types of Federal Law Applying to Community Associations
Answer: Equal Employment Opportunity Commission
Fair Debt Collection Practices Act
Fair Labor and Standards Act
Family and Medical Leave Act
FICA
OSHA
Bankruptcy Code
FCC
Fair Housing Act
QUESTIONS AND SOLUTIONS GRADED A
PLUS
◉ Purposes of a Community Association
Answer: Business - Not for profit
Government - Runs like a mini-government
Community - Mutual reasons for buying into area
◉ 3 Basic Types of Community Associations
Answer: Planned Community - Owners owns his lot/living unit and
community owns common areas (tennis courts, basketball courts,
etc.).
Condominium - Individual owns unit and undivided interest
(percentage) in common elements.
Cooperative - Individual owns stock or membership in cooperative
and holds a proprietary lease/occupancy agreement.
◉ Community associations can be grouped into clusters called:
Answer: Master or Umbrella Associations - More than one
residential community.
, Mixed-Use Development - Mixture of residential and commercial.
"55 and Older" Communities - 80% of residents are 55+ and at least
one per unit.
◉ Name the sources of legal obligations for a Community
Association
Answer: Federal, state and local statutes, regulations and case law.
Governing documents
Standards set by professional bodies (AICPA)
Lender requirements
◉ Types of Federal Law Applying to Community Associations
Answer: Equal Employment Opportunity Commission
Fair Debt Collection Practices Act
Fair Labor and Standards Act
Family and Medical Leave Act
FICA
OSHA
Bankruptcy Code
FCC
Fair Housing Act
