LATEST M100 MODULE 4 QUESTIONS AND ANSWERS (COMMUNITY MANAGEMENT) SCORED A+

LATEST M100 MODULE 4 QUESTIONS AND
ANSWERS (COMMUNITY MANAGEMENT)
SCORED A+

Which of the following types of community association
committees typically is assigned responsibilities related
to elections, nominations, and architectural standards:
a. standing committee
b. professional committees
c. ad hoc committees
d.mandatory committees - CORRECT ANSWER -d.
mandatory committees


Each of the following legal sources specify management
authority and responsibilities for community
associations except:
a. survey data
b. state statutes
c. community association governing docs

, d. court decisions - CORRECT ANSWER -a. survey
data


True/False: the basic authority in a community
association lies with the developer - CORRECT
ANSWER False


The Board of directors in a community association has
a _______ to act in the best interests and for the benefit
of the community as a whole.
a. bond
b. fiduciary duty
c. ballot
d. quorum - CORRECT ANSWER -b. fiduciary duty


True/false: The "business judgement rule:" means that
if a board has exercised reasonable business judgement
in making a decision, the court will generally not
consider the board negligent in its fiduciary duty. -
CORRECT ANSWER -True