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M100 Exam questions with correct answers 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...

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...