M100 Q&A
Community Association - (correct answer)Mandatory memberships, mutually binding
contracts, lien-based assements
Purpose of community association - (correct answer)Provide for the community,
business, and governance aspects of the association
Basic types of community association - (correct answer)Planned communities,
condominium, and cooperatives
Planned community - (correct answer)HOA, owner association
Condominium - (correct answer)Owner of his/her unit
Cooperative - (correct answer)Owns stock/holds lease
Types of community associations - (correct answer)Master/umbrella,
Mixed use development, 55 and older
Association derives legal obligation from - (correct answer)Federal, state and local laws-
legal documents, lender requirements, standards set by professional bodies
EEOC - (correct answer)Equal employment opportunity commission
Equal employment opportunity commission - (correct answer)Prohibits discrimination in
hiring, promoting, etc.
FLSA - (correct answer)Fair Labor Standards Act
,Fair Labor Standards Act - (correct answer)Dictates standards for minimum wage
FMLA - (correct answer)Family Medical Leave Act
Family Medical Leave Act - (correct answer)Provides for unpaid leave for various
medical issues
FICA - (correct answer)Federal Insurance Contributions Act
OSHA - (correct answer)Occupy Safety Health Act
Occupy Safety Health Act - (correct answer)Outlines safety guidelines for employees
FCC - (correct answer)Federal Communications Commission
Federal Communications Commission - (correct answer)Regulates what restrictions
associations have on antennas and satellite dishes
State statues - (correct answer)General, specific, uniform
General state statutes - (correct answer)Apply to all organizations
Specific state statutes - (correct answer)Apply to only one or more types of community
associations
Uniform state statutes - (correct answer)Standardize laws in various states that affect
community associations
, Hierarchy of governing documents - (correct answer)Plat
Declarations
Articles
Bylaws
Rules
Bundle of rights - (correct answer)Declaration, CCR, master deed
What trumps articles? - (correct answer)Declaration
Plat/map - (correct answer)Shows precise location of each lot or unit
Declaration, CCRS, master deed - (correct answer)Establish the chain of title and rights
of ownership for each piece of real estate
Proprietary lease - (correct answer)Defines member or stockholders right and
obligations in a relative to the living unit
Articles of incorporation - (correct answer)Documents that establish the corporation
Bylaws - (correct answer)Formally adopted regulations for the administrative and
management of a community association
Resolution - (correct answer)Motion that follow a swell format and is formally adopted
by the BOD
public offering statement - (correct answer)Disclosure statement- not apart of the
governing documents
Community Association - (correct answer)Mandatory memberships, mutually binding
contracts, lien-based assements
Purpose of community association - (correct answer)Provide for the community,
business, and governance aspects of the association
Basic types of community association - (correct answer)Planned communities,
condominium, and cooperatives
Planned community - (correct answer)HOA, owner association
Condominium - (correct answer)Owner of his/her unit
Cooperative - (correct answer)Owns stock/holds lease
Types of community associations - (correct answer)Master/umbrella,
Mixed use development, 55 and older
Association derives legal obligation from - (correct answer)Federal, state and local laws-
legal documents, lender requirements, standards set by professional bodies
EEOC - (correct answer)Equal employment opportunity commission
Equal employment opportunity commission - (correct answer)Prohibits discrimination in
hiring, promoting, etc.
FLSA - (correct answer)Fair Labor Standards Act
,Fair Labor Standards Act - (correct answer)Dictates standards for minimum wage
FMLA - (correct answer)Family Medical Leave Act
Family Medical Leave Act - (correct answer)Provides for unpaid leave for various
medical issues
FICA - (correct answer)Federal Insurance Contributions Act
OSHA - (correct answer)Occupy Safety Health Act
Occupy Safety Health Act - (correct answer)Outlines safety guidelines for employees
FCC - (correct answer)Federal Communications Commission
Federal Communications Commission - (correct answer)Regulates what restrictions
associations have on antennas and satellite dishes
State statues - (correct answer)General, specific, uniform
General state statutes - (correct answer)Apply to all organizations
Specific state statutes - (correct answer)Apply to only one or more types of community
associations
Uniform state statutes - (correct answer)Standardize laws in various states that affect
community associations
, Hierarchy of governing documents - (correct answer)Plat
Declarations
Articles
Bylaws
Rules
Bundle of rights - (correct answer)Declaration, CCR, master deed
What trumps articles? - (correct answer)Declaration
Plat/map - (correct answer)Shows precise location of each lot or unit
Declaration, CCRS, master deed - (correct answer)Establish the chain of title and rights
of ownership for each piece of real estate
Proprietary lease - (correct answer)Defines member or stockholders right and
obligations in a relative to the living unit
Articles of incorporation - (correct answer)Documents that establish the corporation
Bylaws - (correct answer)Formally adopted regulations for the administrative and
management of a community association
Resolution - (correct answer)Motion that follow a swell format and is formally adopted
by the BOD
public offering statement - (correct answer)Disclosure statement- not apart of the
governing documents
