Reviewed M-100 QUIZ with 100% Correct Answers |latest|

Reviewed M-100 QUIZ with 100% Correct Answers |latest| 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. *Ans* 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. *Ans* True Each of the following are basic types of residential community associations EXCEPT: a. Planned community b. Townhouse c. Cooperative d. Condominium *Ans* 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 *Ans* 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. *Ans* 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. *Ans* 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 *Ans* C. S