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Community Association 
Mandatory memberships, mutually binding contracts, lien-based assements 
Purpose of community association 
Provide for the community, business, and governance aspects of the association 
Basic types of community association 
Planned communities, condominium, and cooperatives 
Planned community 
HOA, owner association 
Condominium 
Owner of his/her unit 
Cooperative 
Owns stock/holds lease 
Types of community associations 
Master... i x Examen • 16 pages • par Jamesmaggie73 • publié 2024 Aperçu Rapide i x M100 • M100 M100 Community Association Management Exam Questions with Correct answers (0) $15.49 0x vendu M100 Community Association 
Management Exam Questions with 
Correct answers 
 
Each of the following are key characteristics of community associations EXCEPT: 
a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate 
and maintain the community association. 
b. Membership in the community association is mandatory and automatic for all owners. 
c. A requirement of community association ownership is serving on the board of directors. 
d. Certain document... i x Examen • 39 pages • par Jamesmaggie73 • publié 2024 Aperçu Rapide i x M100 • M100