M 100 EXAM SCRIPT COMPLETE QUESTIONS AND CORRECT ANSWERS LEARNING RESOURCE

M 100 EXAM SCRIPT COMPLETE
QUESTIONS AND CORRECT ANSWERS
LEARNING RESOURCE

●● Purpose of community association
Answer: Provide for the community, business, and governance aspects
of the association


●● Basic types of community association
Answer: Planned communities, condominium, and cooperatives


●● Planned community
Answer: HOA, owner association


●● Condominium
Answer: Owner of his/her unit


●● Cooperative
Answer: Owns stock/holds lease


●● Types of community associations
Answer: Master/umbrella,

,Mixed use development, 55 and older


●● Association derives legal obligation from
Answer: Federal, state and local laws- legal documents, lender
requirements, standards set by professional bodies


●● EEOC
Answer: Equal employment opportunity commission


●● Equal employment opportunity commission
Answer: Prohibits discrimination in hiring, promoting, etc.


●● FLSA
Answer: Fair Labor Standards Act


●● Fair Labor Standards Act
Answer: Dictates standards for minimum wage


●● FMLA
Answer: Family Medical Leave Act


●● Family Medical Leave Act

, Answer: Provides for unpaid leave for various medical issues


●● FICA
Answer: Federal Insurance Contributions Act


●● OSHA
Answer: Occupy Safety Health Act


●● Occupy Safety Health Act
Answer: Outlines safety guidelines for employees


●● FCC
Answer: Federal Communications Commission


●● Federal Communications Commission
Answer: Regulates what restrictions associations have on antennas and
satellite dishes


●● State statues
Answer: General, specific, uniform


●● General state statutes