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  • M-100 Q- Community Management And Leadership I
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M-100 QUIZ - Community Management and Leadership In-class activity with correct answers

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Institution M-100 Q- Community Management And Leadership I
Course M-100 Q- Community Management and Leadership I
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Each of the following legal sources specify management authority and responsibilities for community associations EXCEPT: A. Survey data B. State Statutes C. Community Association governing documents D Court decisions correct answersA. Survey data TRUE or FALSE: The basic authority in a community association lies with the developer. correct answersFALSE The basic authority in a community association lies with the owners. Complete the following sentence: The board of directors in a community association has a _________________ to act in the best interests and for the benefit of the community as a whole. A. Bond B. Fiduciary duty C. Ballot D. Quorum correct answersB. Fiduciary duty TRUE or FALSE: The business judgment rule means that if a board has exercised reasonable business judgment in making decisions, the court will generally not consider the board negligent in its fiduciary duty. correct answersTRUE However, the board must demonstrate how it reached a decision with good faith, loyalty and due care.

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