REVISED M100 COMMUNITY MANAGEMENT AND LEADERSHIP EXAM – UPDATED QUESTIONS & ANSWERS (LATEST EDITION)

REVISED M100 COMMUNITY nk nk




MANAGEMENT AND LEADERSHIP EXAM nk nk nk nk




QUESTIONS AND ANSWERS nk nk




Eachnkofnkthenkfollowingnklegalnksourcesnkspecifynkmanagementnkauthoritynkandnkresponsibilitiesnkfornkcommuni
tynkassociationsnkEXCEPT:

A. Surveynkdata

B. StatenkStatutes

C. CommunitynkAssociationnkgoverningnkdocuments

DnkCourtnkdecisionsnk-nkCORRECTnkANSWERnk-A.nkSurveynkdata



TRUEnkornkFALSE:nkThenkbasicnkauthoritynkinnkankcommunitynkassociationnkliesnkwithnkthenkdeveloper.nk-
nkCORRECTnkANSWERnk-FALSE




Thenkbasicnkauthoritynkinnkankcommunitynkassociationnkliesnkwithnkthenkowners.



Completenkthenkfollowingnksentence:nkThenkboardnkofnkdirectorsnkinnkankcommunitynkassociationnkhasnka
tonkactnkinnkthenkbestnkinterestsnkandnkfornkthenkbenefitnkofnkthenkcommunitynkasnkankwhole.



A. Bond

B. Fiduciarynkduty

C. Ballot

D. Quorumnk-nkCORRECTnkANSWERnk-B.nkFiduciarynkduty



TRUEnkornkFALSE:nkThenkbusinessnkjudgmentnkrulenkmeansnkthatnkifnkankboardnkhasnkexercisednkreasonablenkbusi
nessnkjudgmentnkinnkmakingnkdecisions,nkthenkcourtnkwillnkgenerallynknotnkconsidernkthenkboardnknegligentnkinnkits
nkfiduciarynkduty.nk-nkCORRECTnkANSWERnk-TRUE