CMCA FINAL PAPER PRACTICE SOLUTION
TESTED QUESTIONS WITH COMPLETE
ANSWERS
●● Fidelity insurance provides coverage to ensure that the:
a. board will meet its fiduciary obligations.
b. manager will faithfully follow all document provisions.
c. association will be covered for shortfalls in the reserve accounts.
d. association will recover any funds lost through employee dishonesty
Answer: D
●● Which types of management is the process of operating, maintaining,
repairing, and replacing common property?
a. human resources
b. facilities
c. financial
d. risk
Answer: B
●● The higher a document's place in the hierarchy, the:
a. harder it is to implement
b. greater its power with the board
,c. more it is regulated legally
d. great its legal weight in a court of law
Answer: D
●● Based on which type of requirements would you choose a contractor
over the association to complete work?
a. low urgency, cost adequate tools available
b. high urgency, low supervision and training possibly needed
c. requires supervision, expertise required and low urgency
d. low costs, high urgency and borrowed tools
Answer: C
●● Who is required to be present for an annual association membership
meeting to conduct business?
a. the treasurer and the secretary
b. a quorum of the board of directors
c. all members of the board of directors
d. a quorum of the members
Answer: D
●● Which of the following would a condominium unit member's
personal insurance policy cover when it is the primary insurance policy?
a. wind damage to the roof of the member's unit.
,b. bodily injury due to a slip and fall in the common area in front of the
member's unit.
c. bodily injury due to the association using the member's automobile.
d. bodily injury due to a slip and fall within a member's unit.
Answer: D
●● Community association governing documents and state statutes may
require who to be involved in preparing annual reports?
a. a CPA
b. the owners
c. an ad hoc committee
d. the management company
Answer: A
●● What is a typical management control used to identify physical
assets?
a. checklist
b. chart of information
c. inventory
d. calendar or schedule
Answer: C
, ●● When a contractor fails to perform to the terms of the contract, which
provision in the contract allows the association to terminate?
a. default provisions
b. warranty provisions
c. insurance provisions
d. performance provisions
Answer: A
●● Where can an individual find the owner and association's
maintenance responsibilities?
a. the plat map
b. the declaration
c. the state statute
d. the lease
Answer: B
●● At the monthly board meeting, it is the role of the manger to do all of
the following except:
a. implement the decisions of the board
b. call for a vote on an issue
c. keep discussions on target
d. act as a resource to the board
Answer: B
TESTED QUESTIONS WITH COMPLETE
ANSWERS
●● Fidelity insurance provides coverage to ensure that the:
a. board will meet its fiduciary obligations.
b. manager will faithfully follow all document provisions.
c. association will be covered for shortfalls in the reserve accounts.
d. association will recover any funds lost through employee dishonesty
Answer: D
●● Which types of management is the process of operating, maintaining,
repairing, and replacing common property?
a. human resources
b. facilities
c. financial
d. risk
Answer: B
●● The higher a document's place in the hierarchy, the:
a. harder it is to implement
b. greater its power with the board
,c. more it is regulated legally
d. great its legal weight in a court of law
Answer: D
●● Based on which type of requirements would you choose a contractor
over the association to complete work?
a. low urgency, cost adequate tools available
b. high urgency, low supervision and training possibly needed
c. requires supervision, expertise required and low urgency
d. low costs, high urgency and borrowed tools
Answer: C
●● Who is required to be present for an annual association membership
meeting to conduct business?
a. the treasurer and the secretary
b. a quorum of the board of directors
c. all members of the board of directors
d. a quorum of the members
Answer: D
●● Which of the following would a condominium unit member's
personal insurance policy cover when it is the primary insurance policy?
a. wind damage to the roof of the member's unit.
,b. bodily injury due to a slip and fall in the common area in front of the
member's unit.
c. bodily injury due to the association using the member's automobile.
d. bodily injury due to a slip and fall within a member's unit.
Answer: D
●● Community association governing documents and state statutes may
require who to be involved in preparing annual reports?
a. a CPA
b. the owners
c. an ad hoc committee
d. the management company
Answer: A
●● What is a typical management control used to identify physical
assets?
a. checklist
b. chart of information
c. inventory
d. calendar or schedule
Answer: C
, ●● When a contractor fails to perform to the terms of the contract, which
provision in the contract allows the association to terminate?
a. default provisions
b. warranty provisions
c. insurance provisions
d. performance provisions
Answer: A
●● Where can an individual find the owner and association's
maintenance responsibilities?
a. the plat map
b. the declaration
c. the state statute
d. the lease
Answer: B
●● At the monthly board meeting, it is the role of the manger to do all of
the following except:
a. implement the decisions of the board
b. call for a vote on an issue
c. keep discussions on target
d. act as a resource to the board
Answer: B
