UPDATED M-100 FINAL EXAM QUESTIONS WITH 100% ANSWERS

UPDATED M-100 FINAL EXAM QUESTIONS
WITH 100% ANSWERS


Complete the following sentence: The __________ bring the
community association into existence, define its basic
purposes and powers, and indicate whether stock will be
issued.
a. recorded map, plat, or plan
b. declaration, CC&Rs, or master deed
c. proprietary lease or occupancy agreement
d. articles of incorporation - CORRECT ANSWER -d.
Articles of incorporation


Each of the following are key characteristics of a community
association 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 ca is mandatory and automatic for all
owners.

, C. A requirement of ca ownership is attending board
meetings
D. Certain documents bind all owners to be governed by the
community. - CORRECT ANSWER -C. A requirement of
community association ownership is attending board
meetings.


True or False. The primary purpose of a community
association is to provide for the governance, business, and
communal aspects of the association. - CORRECT ANSWER -
True


Each of the following are basic types of residential
community associations
EXCEPT:
a. Planned community
b. Townhouse
c. Cooperative
d. Condominium - CORRECT ANSWER -b. Townhouse