CMCA EXAM 2024/2025 STUDY QUESTIONS WITH
COMPLETE ANSWERS GUARANTEED PASS |
RATED A+
I Wish You the Best in Your Studies and Exam Revision.
,Fair Housing Act (FHA) - Answer>>> The federal law that prohibits discrimination in housing
based on race, color, religion, sex, handicap, familial status, and national origin
Warranty - Answer>>> A warranty should state what is covered, for how long, and what the
contractor will do if the work or product proves defective
Employee handbook - Answer>>> The employee handbook summarizes company behavior
requirements, outlines benefits offered and also gives tools that can be used to enforce
disciplinary action if needed. Employers design handbooks to answer employees' questions
before employees ask them and to advise them on company policies that an employee might
have never considered.
Hierarchy of Governing Docs - Answer>>> 1. Federal Laws and State Statutes
2. Recorded plat/plan
3. Declaration, CC&R's, master plan
4. Lease/occupancy agreement
5. Articles of Incorporation
6. Bylaws
7. Board Resolutions
Higher documents always overrule lower
Employment at will - Answer>>> This is a statement to the effect that the community
association retains the right to dismiss an employee without cause at any time
Progressive discipline system - Answer>>> A procedure whereby performance problems are
brought to the employee's attention and the employee and employer take appropriate actions to
correct them.
Board liaison system - Answer>>> Directors are assigned to certain committees to guide the
committee on Board policy and procedures and to report back to the Board. Directors serving as
a liaison must distinguish their role from the role of the committee chairperson.
Master association - Answer>>> An organization of homeowners in a large condominium or
planned unit development (PUD) which includes representatives from other, smaller homeowner
organizations
, Public offering statement - Answer>>> A disclosure statement prepared by a developer that
contains all material facts about a property offered for sale and that must be provided to a
prospective purchaser in accordance with applicable state or federal law.
Resolution - Answer>>> A resolution is a motion that follows a set format and is formally
adopted by the board of directors.
Characteristics of Community Association - Answer>>> Mandatory membership, mutually
binding documents and lien-based assessments.
Architectural Guideline - Answer>>> A rule that applies to the appearance or exterior of a lot,
home, or unit. Community associations frequently develop architectural guidelines that address
fencing, decks and patios, landscaping, doors and windows, color of exterior surfaces, and
location of improvements upon lots, for example.
Resolution Format - Answer>>> Purpose, Authority, Scope and Intent, and Specifications.
cease and disist - Answer>>> Specific description of the alleged violation, the action required to
resolve the alleged violation, a specific time within which the alleged violation must be
corrected, and the penalty (sanction) which may be imposed after a hearing if the alleged
violation is not corrected within the stated time (specified by state statute, your governing
documents or board resolution).
Hearing - Answer>>> a Fact finding session, an inquiry to the allegations and an investigation of
them
Eviction - Answer>>> The legal process of removing a tenant from rental property
Budget - Answer>>> financial plan for an organization, estimate of revenue and expense for a
period of time.
Sources of Budget Requirements - Answer>>> Governing documents, local laws and
regulations, federal laws and regulations, and state statutes, regulations and case law.
Budget Components - Answer>>> Revenue - Expenses
Revenue Sources in HOA - Answer>>> assessments, interest, late fee, fines, user fees, pool fees
Association Main three expenses - Answer>>> operating expense, major improvement, reserve
acct
COMPLETE ANSWERS GUARANTEED PASS |
RATED A+
I Wish You the Best in Your Studies and Exam Revision.
,Fair Housing Act (FHA) - Answer>>> The federal law that prohibits discrimination in housing
based on race, color, religion, sex, handicap, familial status, and national origin
Warranty - Answer>>> A warranty should state what is covered, for how long, and what the
contractor will do if the work or product proves defective
Employee handbook - Answer>>> The employee handbook summarizes company behavior
requirements, outlines benefits offered and also gives tools that can be used to enforce
disciplinary action if needed. Employers design handbooks to answer employees' questions
before employees ask them and to advise them on company policies that an employee might
have never considered.
Hierarchy of Governing Docs - Answer>>> 1. Federal Laws and State Statutes
2. Recorded plat/plan
3. Declaration, CC&R's, master plan
4. Lease/occupancy agreement
5. Articles of Incorporation
6. Bylaws
7. Board Resolutions
Higher documents always overrule lower
Employment at will - Answer>>> This is a statement to the effect that the community
association retains the right to dismiss an employee without cause at any time
Progressive discipline system - Answer>>> A procedure whereby performance problems are
brought to the employee's attention and the employee and employer take appropriate actions to
correct them.
Board liaison system - Answer>>> Directors are assigned to certain committees to guide the
committee on Board policy and procedures and to report back to the Board. Directors serving as
a liaison must distinguish their role from the role of the committee chairperson.
Master association - Answer>>> An organization of homeowners in a large condominium or
planned unit development (PUD) which includes representatives from other, smaller homeowner
organizations
, Public offering statement - Answer>>> A disclosure statement prepared by a developer that
contains all material facts about a property offered for sale and that must be provided to a
prospective purchaser in accordance with applicable state or federal law.
Resolution - Answer>>> A resolution is a motion that follows a set format and is formally
adopted by the board of directors.
Characteristics of Community Association - Answer>>> Mandatory membership, mutually
binding documents and lien-based assessments.
Architectural Guideline - Answer>>> A rule that applies to the appearance or exterior of a lot,
home, or unit. Community associations frequently develop architectural guidelines that address
fencing, decks and patios, landscaping, doors and windows, color of exterior surfaces, and
location of improvements upon lots, for example.
Resolution Format - Answer>>> Purpose, Authority, Scope and Intent, and Specifications.
cease and disist - Answer>>> Specific description of the alleged violation, the action required to
resolve the alleged violation, a specific time within which the alleged violation must be
corrected, and the penalty (sanction) which may be imposed after a hearing if the alleged
violation is not corrected within the stated time (specified by state statute, your governing
documents or board resolution).
Hearing - Answer>>> a Fact finding session, an inquiry to the allegations and an investigation of
them
Eviction - Answer>>> The legal process of removing a tenant from rental property
Budget - Answer>>> financial plan for an organization, estimate of revenue and expense for a
period of time.
Sources of Budget Requirements - Answer>>> Governing documents, local laws and
regulations, federal laws and regulations, and state statutes, regulations and case law.
Budget Components - Answer>>> Revenue - Expenses
Revenue Sources in HOA - Answer>>> assessments, interest, late fee, fines, user fees, pool fees
Association Main three expenses - Answer>>> operating expense, major improvement, reserve
acct
