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Community association manager(Community association manager review)rated 100% correct.

Community Association Manager pre-test questions with 100% Correct Answers.

Community Association (Definition) CORRECT ANSWER a residential homeowners' association in which membership is a condition of ownership (mandatory) of a unit in a planned unit development, or of a lot for a home or a mobile home, or of a townhouse, villa, condominium, cooperative, or other residential unit which is part of a residential development scheme and which is authorized to impose a fee (assessment) which may become a lien on the parcel. Assessment CORRECT ANSWER The amount of money ...

A community association is Generally defined as real or personal property, owned by two or more entities, which share the responsibility for the cost of maintenance and administration CORRECT ANSWER True Purchasers of a timeshare plan have a 10-day contract recision period in which to cancel the purchase CORRECT ANSWER True Not for-profit corporations are exempt from federal income taxes CORRECT ANSWER False A condominium and a hospital may join together to create a self-insurance pool ...

When is a CIC created? - A CIC is created when the declaration (CC&Rs) is recorded with the county. No later than the date the first unit is conveyed How many elected board members are required under NRS 116B, once the declarant's control of a condominium hotel terminates? - 3 A common interest community is? - Real estate described in a declaration in which individual unit owners are required to pay a portion of the expenses related to the common elements. in addition to the Declarations...

A community association is Generally defined as real or personal property,owned by two or more entities, which share the responsibility for the cost of maintenance and administration - True Purchasers of a timeshare plan have a 10 day contract recision period in which to cancel the purchase - True Not for-profit corporations are exempt from federal income taxes - False A condominium and a hospital may join together to create a self insurance pool for windstorm insurance, if approved by th...