CMCA PRACTICE Guías de estudio, Notas de estudios & Resúmenes

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

Why are special membership meetings held? - ANSWER- To conduct specific business Executive sessions should typically be used for discussing which of the following issues: - ANSWER- Member's delinquency Which of the following is a duty of a manager attending a board meeting? - ANSWER- Be the time keeper. If the governing documents and laws present conflicting notice periods, follow: - ANSWER- State laws. If an owner fails to receive notice of a meeting, the association is not responsible...

CMCA Sample Exam Questions And Answers 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. - ANS 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 co...

Random CMCA Practice Test Questions (Under Construction) Exam Questions And Answers C. A work order/response form - A, B, and D speak to elements OTHER than a control to ensure maintenance work is completed. - ANS 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 C. Maintenance responsibility chart along...

CMCA Practice Exam Questions And Answers 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 - ANS A Fidelity insurance provides coverage to ensure that the: a. board will meet its fiduciary obligations. b. the manager will faithfully follow all document provisions. c. association will be covered for shortfalls in the reserve accounts. d. association will recover ...

Random CMCA Practice Test Questions !! With Correct Answers 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 - ANS C. 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 as...

CMCA PRACTICE EXAM QUESTIONS WITH VERIFIED ANSWERS Preparing a bid request includes which of the following: A. Verifying References. B. Identifying potential contractors. C. Recommending a contractor to the board. D. Verifying contractor insurance. - ANS B Legal review prior to executing a contract will assist the association in the event that: A. A subcontractor is used. B. A performance bond is required. C. There is a budgetary shortfall. D. The board has questions or con...

Statement of Revenue and Expense - ANSWER - This report shows the activity over a period of time & therefore will indicate the amount of income received & expenses incurred, whether actual or accrued, for all activity of the association through the 8 months of the fiscal year. The report may also show the amount of money in each budgeted line item for the entire year & amount remaining in each line for the last 4 months of the year. Your association just completed the eighth month of its fi...

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 - ANSWER - A 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 - A...