M100 Exam Questions with Answers
Community Associations Institute
A national, nonprofit 501(c)(6) association created in 1973 to educate and provide resources to
America's community association industry.
Mandatory Membership
A characteristic of community associations where membership is required for all property owners.
Mutually Binding Documents
Legal documents that bind members of a community association to its rules and regulations.
Lien-Based Assessments
Assessments that can result in a lien against a property if not paid by the owner.
Primary Purpose of a Community Association
To provide for the community, business, and governance aspects of the association.
Types of Community Associations
The three basic types are planned communities, condominiums, and cooperatives, focusing on
ownership rather than architectural style.
Master or Umbrella Association
, An association made up of more than one residential community association.
Mixed-Use Development
A development that includes a mixture of residential and commercial or industrial use space.
M-100 Study Guide
A summary of key learning concepts from the M-100 course, designed to assist students in preparing for
the final exam.
Community Managers
Professionals responsible for overseeing the operations and management of community associations.
Financial Management
The process of planning, organizing, directing, and controlling the financial activities of a community
association.
Budgets and Replacement Reserves
Financial planning tools used by community associations to allocate funds for future repairs and
replacements.
Collecting Assessments
The process by which community associations gather dues from members to fund operations and
maintenance.
Community Associations Institute
A national, nonprofit 501(c)(6) association created in 1973 to educate and provide resources to
America's community association industry.
Mandatory Membership
A characteristic of community associations where membership is required for all property owners.
Mutually Binding Documents
Legal documents that bind members of a community association to its rules and regulations.
Lien-Based Assessments
Assessments that can result in a lien against a property if not paid by the owner.
Primary Purpose of a Community Association
To provide for the community, business, and governance aspects of the association.
Types of Community Associations
The three basic types are planned communities, condominiums, and cooperatives, focusing on
ownership rather than architectural style.
Master or Umbrella Association
, An association made up of more than one residential community association.
Mixed-Use Development
A development that includes a mixture of residential and commercial or industrial use space.
M-100 Study Guide
A summary of key learning concepts from the M-100 course, designed to assist students in preparing for
the final exam.
Community Managers
Professionals responsible for overseeing the operations and management of community associations.
Financial Management
The process of planning, organizing, directing, and controlling the financial activities of a community
association.
Budgets and Replacement Reserves
Financial planning tools used by community associations to allocate funds for future repairs and
replacements.
Collecting Assessments
The process by which community associations gather dues from members to fund operations and
maintenance.
