Community Association Management (M-100) Questions with Correct Answers

Community Association Management (M-100) Questions with Correct Answers - CORRECT ANSWERDoes a condo owner who manages his own community on a part-time basis need a real estate license? - CORRECT ANSWER-No Does a CPA who collects association assessments need a real estate license? - CORRECT ANSWER-No Does a person working for a management company and managing only one association need a real estate license? - CORRECT ANSWER-Yes Does a developer's employee who manages all of the developer's communities until turnover need a real estate license? - CORRECT ANSWER-No Does a homeowner hired by two communities nearby the homeowner's community need a real estate license? - CORRECT ANSWER-Yes Does a condominium owner who manages his own community on a full-time basis need a real estate license? - CORRECT ANSWER-No Does a person hired by a Broker to manage numerous mandatory associations need a real estate license? - CORRECT ANSWER-Yes Does a CPA who writes checks to association vendors and professionals need a real estate license? - CORRECT ANSWER-No Does a non-owner hired by a Broker to manage one community on-site on a full-time basis need a real estate license? - CORRECT ANSWER-Yes Does a maintenance man working for the management company need a real estate license? - CORRECT ANSWER-No Does a CPA who does association tax returns need a real estate license? - CORRECT ANSWER-No Does a person working for a Broker managing numerous voluntary associations need a real estate license? - CORRECT ANSWER-Yes Name 5 requirements of a qualifying Broker. - CORRECT ANSWEROwner/officer/partner of company, Active license for 3 yrs., Signatory on all trust