M1OO Community Association Governance, Legal Compliance, Financial
Oversight, Budgeting, Reserve Planning, Lien Enforcement, Judicial and Extra-
Judicial Remedies, Assessment Collection Authority, Bylaws and Board
Resolutions, Governing Documents (Declaration, CC&Rs, Proprietary Lease), Plat
and Map Analysis, Incorporation Benefits, Public Offering Statements, Rule
Scope and Enforcement, Alternative Dispute Resolution (ADR), Arbitration and
Mediation, Mandatory and Discretionary Expenses, Zero-Based and Historical
Trend Budgeting, Reserve Specialist Roles, Revenue and Expense Management,
Expense Calculation Methods, Effective Budget Presentation, Risk Management,
Authority of Collection, Foreclosure, Personal Money Judgments, Acceleration,
Compliance with Federal, State, and Local Statutes, FLSA, FMLA, EEOC, OSHA,
and FCC Regulations Exam Questions Verified and Provided with Complete A+
Graded Rationales Latest Updated 2026
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/umbrella,
Mixed use development, 55 and older
Association derives legal obligation from
Federal, state and local laws- legal documents, lender requirements, standards set by
professional bodies
EEOC
Equal employment opportunity commission
, Equal employment opportunity commission
Prohibits discrimination in hiring, promoting, etc.
FLSA
Fair Labor Standards Act
Fair Labor Standards Act
Dictates standards for minimum wage
FMLA
Family Medical Leave Act
Family Medical Leave Act
Provides for unpaid leave for various medical issues
FICA
Federal Insurance Contributions Act
OSHA
Occupy Safety Health Act
Oversight, Budgeting, Reserve Planning, Lien Enforcement, Judicial and Extra-
Judicial Remedies, Assessment Collection Authority, Bylaws and Board
Resolutions, Governing Documents (Declaration, CC&Rs, Proprietary Lease), Plat
and Map Analysis, Incorporation Benefits, Public Offering Statements, Rule
Scope and Enforcement, Alternative Dispute Resolution (ADR), Arbitration and
Mediation, Mandatory and Discretionary Expenses, Zero-Based and Historical
Trend Budgeting, Reserve Specialist Roles, Revenue and Expense Management,
Expense Calculation Methods, Effective Budget Presentation, Risk Management,
Authority of Collection, Foreclosure, Personal Money Judgments, Acceleration,
Compliance with Federal, State, and Local Statutes, FLSA, FMLA, EEOC, OSHA,
and FCC Regulations Exam Questions Verified and Provided with Complete A+
Graded Rationales Latest Updated 2026
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/umbrella,
Mixed use development, 55 and older
Association derives legal obligation from
Federal, state and local laws- legal documents, lender requirements, standards set by
professional bodies
EEOC
Equal employment opportunity commission
, Equal employment opportunity commission
Prohibits discrimination in hiring, promoting, etc.
FLSA
Fair Labor Standards Act
Fair Labor Standards Act
Dictates standards for minimum wage
FMLA
Family Medical Leave Act
Family Medical Leave Act
Provides for unpaid leave for various medical issues
FICA
Federal Insurance Contributions Act
OSHA
Occupy Safety Health Act
