CMCA Study guides, Class notes & Summaries

CMCA Practice Exam Questions And Answers 2023, Complete Solution A Quorum requirements conflicts are resolved by: a. state statute b. the board of directors c. a vote of those present at a meeting d. appointment of a person as a proxy D Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the reserve accounts. d. association w...

CMCA EXAM REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS) 2 VERSIONS/CMCA EXAM REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS) 2 VERSIONS/CMCA EXAM REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS) 2 VERSIONS

Random CMCA Practice Test Questions With 100% Correct Answers 2024 Which of the following is a common management control for ensuring maintenance work is performed in a timely manner? A. A purchase order system B. An equipment warranties C. A work order/response form D. A contractor's invoice - answerC. A work order/response form - A, B, and D speak to elements OTHER than a control to ensure maintenance work is completed. The primary management control tool for identifying whether the ...

CMCA - Community Association Management Ad hoc committee - answerused when an objective needs consideration and no standing committee can absorb that issue; short-term basis board liaison system - answerdirectors assigned to certain committees to guide the committee on Board policy and procedures and to report back to the board fiduciary duty - answerrequires directors to act in the best interest and for the benefit of the corporation management audit - answera review of governing docs a...

1. Quorum requirements conflicts are resolved by: a. state statute. b. the board of directors. c. a vote of those present at a meeting. d. appointment of a person as a proxy. - A 2. Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. deductible in the association's insurance policies is reimbursed. d. association will be covered for shortfalls in the reserve accounts. e. as...

Your association just completed the eighth month of its fiscal year. Which financial report would be most useful to project year end expenses? - ANSWER-Statement of Revenue and Expense The best reasoning for recommending the modified accrual accounting method is that, compared to cash accounting, it: - ANSWER-More accurately reflects the associations financial condition Modified Cash Basis - ANSWER-Under the modified accrual basis, also sometimes referred to as modified cash basis, some ac...

b. membership in the community association is mandatory and automatic for all owners c. a requirement of community association ownership is attending board meetings d. certain documents bind all owners to be governed by the community association - ANSWER-c. each of the following are basic types of residential community associations except: a. planned community b. townhouse c. cooperative d. condominium - ANSWER-b. a BLANK is a motion that follows a set format and is forma...

2. Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the reserve accounts. d. association will recover any funds lost through employee dishonesty. - ANSWER-D 3. Which type of management is the process of operating, maintaining, repairing, and replacing common property? a. Human Resources b. Facilities c. Financial d. Risk - AN...

Bylaws - ANSWER-Formally adopted governing regulations for the administration and management of a community association CC & Rs (Covenants, Conditions & Restrictions) - ANSWER-The governing documents that dictate how the homeowners association operates and what rules the owners—and their tenants and guests — must obey. These legal documents might also be called the bylaws, the master deed, the houses rules or another name. These documents and rules are legally enforceable by the home...

Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the reserve accounts. d. association will recover any funds lost through employee dishonesty - ANSWER-D Which types of management is the process of operating, maintaining, repairing, and replacing common property? a. human resources b. facilities c. financial d. risk - ANSWER-B...