M-100, Module 1 Exam 2025 Questions
and Answers
Types of Community Associations
Pg. 19 - --Answer --1. Planned Community
2. Condo Community
3. Cooperative
Cooperative
Pg. 19 - --Answer --An individual:
1. Owns stock or membership in the co-op
2. Holds a proprietary lease or occupancy agreement for his/her living unit
Two Legal Relationships:
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,1. As someone who shares in ownership of the corporation 2. As someone who
holds a lease for a living unit
Proprietary Lease
Pg. 19 - --Answer --Defines the member or stockholder's rights and
obligations in relation to the living unit.
Purposes of a Community Association
Pg. 17 - --Answer --1. Community
2. Business
3. Government
Lien
Pg. 17 - --Answer --Legal claim by one party on the property of another to
obtain the payment of a debt or the satisfaction of an obligation. The owner can't
sell or transfer the unit w/o settling the debt.
Characteristics of a Community Association
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, Pg. 15 - --Answer --1. Mandatory Membership
2. Mutually Binding Documents
3. Lien-Based Assessments
Mutually Binding Documents
Pg. 15 - --Answer --Certain association governing documents bind the
owner and the association to each other through mandated actions.
Types of Association Clusters
Pg. 21 - --Answer --1. Master or Umbrella Associations
2. Mixed-Use Developments
3. "55 and Older" Communities
Master or Umbrella Associations
Pg. 21 - --Answer --A master or umbrella association consists of more than
one residential community association.
Mixed-Use Developments
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and Answers
Types of Community Associations
Pg. 19 - --Answer --1. Planned Community
2. Condo Community
3. Cooperative
Cooperative
Pg. 19 - --Answer --An individual:
1. Owns stock or membership in the co-op
2. Holds a proprietary lease or occupancy agreement for his/her living unit
Two Legal Relationships:
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,1. As someone who shares in ownership of the corporation 2. As someone who
holds a lease for a living unit
Proprietary Lease
Pg. 19 - --Answer --Defines the member or stockholder's rights and
obligations in relation to the living unit.
Purposes of a Community Association
Pg. 17 - --Answer --1. Community
2. Business
3. Government
Lien
Pg. 17 - --Answer --Legal claim by one party on the property of another to
obtain the payment of a debt or the satisfaction of an obligation. The owner can't
sell or transfer the unit w/o settling the debt.
Characteristics of a Community Association
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, Pg. 15 - --Answer --1. Mandatory Membership
2. Mutually Binding Documents
3. Lien-Based Assessments
Mutually Binding Documents
Pg. 15 - --Answer --Certain association governing documents bind the
owner and the association to each other through mandated actions.
Types of Association Clusters
Pg. 21 - --Answer --1. Master or Umbrella Associations
2. Mixed-Use Developments
3. "55 and Older" Communities
Master or Umbrella Associations
Pg. 21 - --Answer --A master or umbrella association consists of more than
one residential community association.
Mixed-Use Developments
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