M100 COMMUNITY ASSOCIATION STUDY GUIDE EXAM
2025/2026 QUESTIONS WITH ANSWERS GRADED A+
✔✔A proxy in a condominium is valid for a period of up to 90 days after the date of the
first meeting for which it was given - ✔✔True
✔✔Assessments, membership fees, and maintenance fees are different words that
essentially mean the same thing - ✔✔True
✔✔Common expenses for an HAO must include fees to the DBPR - ✔✔False
✔✔Deferred maintenance means any maintenance or repair that will be performed less
frequently than yearly and which will result in maintaining or extending the useful life of
an asset - ✔✔True
✔✔And association may reduce its contribution to the reserve by the percentage
assessments of members that are late in paying - ✔✔False
✔✔John Bowie, president of Boca Chica condominiums, has a 15% interest in green
growers, a landscaping company, with whom Boca Chica is considering doing business.
Because he is a minor interest holder he may vote on this contract at the upcoming
Boca Chica meeting - ✔✔False
✔✔Reserves are never required in a homeowners association, unless required by the
associations governing documents - ✔✔Faults
✔✔A possible example of an emergency requiring immediate entry into a members unit
in a condominium association is a broken pipe in the wall - ✔✔True
✔✔Unless the governing documents require a membership vote, the Board of Directors
may approve a special assessment - ✔✔True
✔✔The DBPR requires the condominiums and cooperatives follow the annual budget to
within 10% of each line item. If an association exceeds the line item by more than 10%,
it must amend the budget - ✔✔False
✔✔Condominiums, cooperatives, and homeowners association's must keep all records
for at least seven years, by statute. It may be advisable to keep some records, such as
minutes or building plans, for a longer period, for the benefit of the association -
✔✔True
✔✔A mobile home is defined as a residential structure, transportable in one or more
sections, which is 10 body feet or more in width, over 30 body feet in length without a
, hitch, built on an integral chassis, designed to be used as a dwelling unit or office -
✔✔False
✔✔All phases must be added to a condominium within 10 years after the recording of
the original declaration of condominium, unless an amendment extending the. It was
approved by the developer within the last four of the 10 years - ✔✔False
✔✔When a member of a community association sells his unit, the association must
reimburse him the amount of reserves he has paid which have not been expended, plus
a proportional share of any budget surplus - ✔✔False
✔✔Bylaws are procedural rules created to interpret a declaration, articles or leasehold
agreement - ✔✔False
✔✔In a condominium created after April 1, 1992, ownership interest must be based on
either the percentage of square footage of the square footage of all units or divided
equally among all units - ✔✔True
✔✔Associations should contact a qualified attorney when filing a lien - ✔✔True
✔✔Liability for assessments may be avoided by waiver of use - ✔✔False
✔✔The cooperative act requires that the declaration include provisions for the recall of
directors - ✔✔False
✔✔A timeshare member may be locked out of his or her unit if he or she is more than
60 days late in payment of an assessment and has been given 30 days notice of the
late payment - ✔✔True
✔✔Cash basis accounting is more accurate then accrual basis accounting - ✔✔False
✔✔The information provided in the annual corporate report must be accurate as of the
date the report is executed - ✔✔True
✔✔And association collections policy should consider how the association will treat
partial payments of assessments from members - ✔✔True
✔✔It is a responsibility of manager to protect, maintain, and enhance the value of the
association's property, as agent for the association - ✔✔True
✔✔An association may charge late fees of $25 or 5%, which ever is less, if permitted in
the documents, but only for assessments paid after the 10th of the month - ✔✔False
2025/2026 QUESTIONS WITH ANSWERS GRADED A+
✔✔A proxy in a condominium is valid for a period of up to 90 days after the date of the
first meeting for which it was given - ✔✔True
✔✔Assessments, membership fees, and maintenance fees are different words that
essentially mean the same thing - ✔✔True
✔✔Common expenses for an HAO must include fees to the DBPR - ✔✔False
✔✔Deferred maintenance means any maintenance or repair that will be performed less
frequently than yearly and which will result in maintaining or extending the useful life of
an asset - ✔✔True
✔✔And association may reduce its contribution to the reserve by the percentage
assessments of members that are late in paying - ✔✔False
✔✔John Bowie, president of Boca Chica condominiums, has a 15% interest in green
growers, a landscaping company, with whom Boca Chica is considering doing business.
Because he is a minor interest holder he may vote on this contract at the upcoming
Boca Chica meeting - ✔✔False
✔✔Reserves are never required in a homeowners association, unless required by the
associations governing documents - ✔✔Faults
✔✔A possible example of an emergency requiring immediate entry into a members unit
in a condominium association is a broken pipe in the wall - ✔✔True
✔✔Unless the governing documents require a membership vote, the Board of Directors
may approve a special assessment - ✔✔True
✔✔The DBPR requires the condominiums and cooperatives follow the annual budget to
within 10% of each line item. If an association exceeds the line item by more than 10%,
it must amend the budget - ✔✔False
✔✔Condominiums, cooperatives, and homeowners association's must keep all records
for at least seven years, by statute. It may be advisable to keep some records, such as
minutes or building plans, for a longer period, for the benefit of the association -
✔✔True
✔✔A mobile home is defined as a residential structure, transportable in one or more
sections, which is 10 body feet or more in width, over 30 body feet in length without a
, hitch, built on an integral chassis, designed to be used as a dwelling unit or office -
✔✔False
✔✔All phases must be added to a condominium within 10 years after the recording of
the original declaration of condominium, unless an amendment extending the. It was
approved by the developer within the last four of the 10 years - ✔✔False
✔✔When a member of a community association sells his unit, the association must
reimburse him the amount of reserves he has paid which have not been expended, plus
a proportional share of any budget surplus - ✔✔False
✔✔Bylaws are procedural rules created to interpret a declaration, articles or leasehold
agreement - ✔✔False
✔✔In a condominium created after April 1, 1992, ownership interest must be based on
either the percentage of square footage of the square footage of all units or divided
equally among all units - ✔✔True
✔✔Associations should contact a qualified attorney when filing a lien - ✔✔True
✔✔Liability for assessments may be avoided by waiver of use - ✔✔False
✔✔The cooperative act requires that the declaration include provisions for the recall of
directors - ✔✔False
✔✔A timeshare member may be locked out of his or her unit if he or she is more than
60 days late in payment of an assessment and has been given 30 days notice of the
late payment - ✔✔True
✔✔Cash basis accounting is more accurate then accrual basis accounting - ✔✔False
✔✔The information provided in the annual corporate report must be accurate as of the
date the report is executed - ✔✔True
✔✔And association collections policy should consider how the association will treat
partial payments of assessments from members - ✔✔True
✔✔It is a responsibility of manager to protect, maintain, and enhance the value of the
association's property, as agent for the association - ✔✔True
✔✔An association may charge late fees of $25 or 5%, which ever is less, if permitted in
the documents, but only for assessments paid after the 10th of the month - ✔✔False
