[ALREADY GRADED A+} REAL EXAM !!!
In terms of compensation , a contract should state:
A. Who provides insurance coverage
B. Each employees rate to perform work
C. When and on what terms payment(s) will be made
D. Requirement for a payment bond - ANS✔✔---C
Alternative dispute resolution includes which of the following methods?
A. Mediation
B. Subrogation
C.Litigation
D.Indemnification - ANS✔✔---A
Employment contracts need not included:
A.Legal Sources
B.Interests
C.Termination
D.Notice - ANS✔✔---B
Preparing a bid request includes which of the following:
A. Verifying References.
B. Identifying potential contractors.
C. Recommending a contractor to the board.
,D. Verifying contractor insurance. - ANS✔✔---B
Legal review prior to executing a contract will assist the association in the event that:
A. A subcontractor is used.
B. A performance bond is required.
C. There is a budgetary shortfall.
D. The board has questions or concerns. - ANS✔✔---D
Rather than describing the scope of work in detail in the contract, a manager may:
A. Attach the bid specifications.
B. Call each contractor to describe the job.
C. Be on-site to oversee project content.
D. Suggest the board meet the contractor to talk about the scope of work. - ANS✔✔---A
In older condominiums, an association should have what type of contract covering mechanical
equipment?
A. Time and materials
B. Specific repair
C.Service
D. Preventative maintenance - ANS✔✔---D
For which project would a board most likely want to use a consultant to help develop bid specifications?
A.Landscape renovation project
B. Repairing and/or replacing roofs
C. Painting the interior of lobbies and hallways
D. Repairing HVAC and boilers - ANS✔✔---B
In what type of contract would a waiver of lien be recommended?
A. Repair of the HVAC system
, B.Re-roofing the buildings
C. Repair of the pool pump
D. Annual tree pruning - ANS✔✔---B
What is the best way to communicate managements expectation for an employee to complete regular
and special tasks during a certain time-period?
A.Job orientation
B. Job duties
C.Establishing performance goals
D. Performance reviews - ANS✔✔---C
The purpose of a personnel manual or employee handbook is to:
A. Provide the format for job evaluations
B. Define individual job descriptions
C. Detail the programs the company offers
D. Explain he employee rights and responsibilities - ANS✔✔---D
What "duty" do the Board members and the manager have to the members?
A. Accountability
B. Loyalty
C. Service
D. Conduct - ANS✔✔---B
Which of the following would impact the operation of a newly installed entry control system?
A. Communicating the access control policy to residents
B. Identifying warranty procedures
C. Developing a capital replacement budget line item
D.Informing the associations insurance agent - ANS✔✔---A