HESI MATH FINAL TEST 2026
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ C. A work order/response form - A, B, and D speak to elements OTHER
than a control to ensure maintenance work is completed..
Answer: Which of the following is a common management control for
ensuring maintenance work is performed in a timely manner?A. A purchase
order systemB. An equipment warrantiesC. A work order/response formD.
A contractor's invoice
◍ 1. Quorum requirements conflicts are resolved by:a. state statuteb. the board
of directorsc. a vote of those present at a meetingd. appointment of a person
as a proxy.
Answer: 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. association will be covered for shortfalls in the reserve
accounts.d. association will recover any funds lost through employee
dishonesty..
Answer: D
◍ C. Maintenance responsibility chart along, with the governing documents,
defines parameters of association maintenance responsibility.The other
answers have no bearing on necessity of maintenance or maintenance
responsibility..
Answer: The primary management control tool for identifying whether the
association needs to maintain a particular property element is:A. Physical
inspectionsB. Association bylawsC. Maintenance responsibility chartD.
Community asset inventory
,◍ B. Re-roofing the buildings - Large contracts involving significant material
purchase and/or use of sub-contractors commonly include lien waivers and
should be recommended to the board.A, C, and D typically do not include
significant material purchases or the use of sub-contractors so a waiver of
lien is not necessary..
Answer: In what type of a contract would a waiver of lien by
recommended?A. Repair of the HVAC systemB. Re-roofing the buildingsC.
Repair of the pool pumpD. Annual tree pruning
◍ B. Maintain certain limits of insurance - Co-insurance seeks to the limits of
insurance in place at the time of a loss and speaks to insurance obligation for
the parties involved in the claim.Co-insurance does not obligate the
Association to pay a deductible. Provides no obligation to provide insurance
for homeowners..
Answer: What does "Co-Insurance" obligate the Association to do?A. Pay
the deductibleB. Maintain certain limits of insuranceC. Cover the
depreciated value of all association buildingsD. Provide insurance for
homeowners
◍ A. Negotiate contracts within the bidding process.Incorrect Answers:
B. Employment practices liability insurance is typically purchased by an
association that has employees to provide coverage against certain types of
claims by those employees, and usually accompanies a workers
compensation insurance policy.
C. The association MUST NEVER assume that contractors carry their own
insurance coverage and should require all contractors to provide evidence of
insurance.
D. D&O insurance policies is designed to pay for wrongful acts that do not
lead to property damage (PD), bodily injury (BI), personal injury (PI), or
advertising injury (AI); an example of a claim for coverage under D&O
would be if a board of directors is accused of not uniformly enforcing rules
or covenants. Therefore, it is unlikely that the services of independent
contractors would lead to claims under D&
, O. .
Answer: When an association contracts out all of its services and has no
employees, it is a best business practice to:A. Negotiate contracts within the
bidding process.B. Purchase employment practices liability insurance.C.
Assume the contractors carry their own insurance coverage.D. Increase the
coverage under the D&O insurance policy.
◍ A. Did not notify association of their current address. It is the owner's
responsibility to provide current contact information to
Management.Incorrect:
B. The duty to notify all owners of meetings belongs to the Board, which is
often delegated to Management.
C. Signing a petition to hold a meeting is not legal notice of the meeting.
The duty to notify all owners of meetings belongs to the Board, which is
often delegated to Management.
D. The notice of meetings is sent to the "Owner of Record" at the last
known address. In the case of multiple owners sharing title to a unit, the
owners of that unity have the duty to notify the Board/Management which
one of the owners will receive notices, and provide current contact
information..
Answer: If an owner fails to receive notice of a meeting, the association is
not responsible if the owner:A. Did not notify association of their current
address.B. Does not usually attend the meetings.C. Already signed the
petition to call the meeting.D. Shares title with multiple owners.
◍ 3. Which type of management is the process of operating, maintaining,
repairing, and replacing common property?a. Human Resourcesb.
Facilitiesc. Financiald. Risk.
Answer: B
◍ 4. The higher a document's place in the hierarchy, the:a. harder it is to
implementb. greater its power with the boardc. more it is regulated legallyd.
greater its legal weight in a court of law.
Answer: D
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ C. A work order/response form - A, B, and D speak to elements OTHER
than a control to ensure maintenance work is completed..
Answer: Which of the following is a common management control for
ensuring maintenance work is performed in a timely manner?A. A purchase
order systemB. An equipment warrantiesC. A work order/response formD.
A contractor's invoice
◍ 1. Quorum requirements conflicts are resolved by:a. state statuteb. the board
of directorsc. a vote of those present at a meetingd. appointment of a person
as a proxy.
Answer: 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. association will be covered for shortfalls in the reserve
accounts.d. association will recover any funds lost through employee
dishonesty..
Answer: D
◍ C. Maintenance responsibility chart along, with the governing documents,
defines parameters of association maintenance responsibility.The other
answers have no bearing on necessity of maintenance or maintenance
responsibility..
Answer: The primary management control tool for identifying whether the
association needs to maintain a particular property element is:A. Physical
inspectionsB. Association bylawsC. Maintenance responsibility chartD.
Community asset inventory
,◍ B. Re-roofing the buildings - Large contracts involving significant material
purchase and/or use of sub-contractors commonly include lien waivers and
should be recommended to the board.A, C, and D typically do not include
significant material purchases or the use of sub-contractors so a waiver of
lien is not necessary..
Answer: In what type of a contract would a waiver of lien by
recommended?A. Repair of the HVAC systemB. Re-roofing the buildingsC.
Repair of the pool pumpD. Annual tree pruning
◍ B. Maintain certain limits of insurance - Co-insurance seeks to the limits of
insurance in place at the time of a loss and speaks to insurance obligation for
the parties involved in the claim.Co-insurance does not obligate the
Association to pay a deductible. Provides no obligation to provide insurance
for homeowners..
Answer: What does "Co-Insurance" obligate the Association to do?A. Pay
the deductibleB. Maintain certain limits of insuranceC. Cover the
depreciated value of all association buildingsD. Provide insurance for
homeowners
◍ A. Negotiate contracts within the bidding process.Incorrect Answers:
B. Employment practices liability insurance is typically purchased by an
association that has employees to provide coverage against certain types of
claims by those employees, and usually accompanies a workers
compensation insurance policy.
C. The association MUST NEVER assume that contractors carry their own
insurance coverage and should require all contractors to provide evidence of
insurance.
D. D&O insurance policies is designed to pay for wrongful acts that do not
lead to property damage (PD), bodily injury (BI), personal injury (PI), or
advertising injury (AI); an example of a claim for coverage under D&O
would be if a board of directors is accused of not uniformly enforcing rules
or covenants. Therefore, it is unlikely that the services of independent
contractors would lead to claims under D&
, O. .
Answer: When an association contracts out all of its services and has no
employees, it is a best business practice to:A. Negotiate contracts within the
bidding process.B. Purchase employment practices liability insurance.C.
Assume the contractors carry their own insurance coverage.D. Increase the
coverage under the D&O insurance policy.
◍ A. Did not notify association of their current address. It is the owner's
responsibility to provide current contact information to
Management.Incorrect:
B. The duty to notify all owners of meetings belongs to the Board, which is
often delegated to Management.
C. Signing a petition to hold a meeting is not legal notice of the meeting.
The duty to notify all owners of meetings belongs to the Board, which is
often delegated to Management.
D. The notice of meetings is sent to the "Owner of Record" at the last
known address. In the case of multiple owners sharing title to a unit, the
owners of that unity have the duty to notify the Board/Management which
one of the owners will receive notices, and provide current contact
information..
Answer: If an owner fails to receive notice of a meeting, the association is
not responsible if the owner:A. Did not notify association of their current
address.B. Does not usually attend the meetings.C. Already signed the
petition to call the meeting.D. Shares title with multiple owners.
◍ 3. Which type of management is the process of operating, maintaining,
repairing, and replacing common property?a. Human Resourcesb.
Facilitiesc. Financiald. Risk.
Answer: B
◍ 4. The higher a document's place in the hierarchy, the:a. harder it is to
implementb. greater its power with the boardc. more it is regulated legallyd.
greater its legal weight in a court of law.
Answer: D
