CMCA PRACTICE EXAM 2026
ACTUAL QUESTIONS WITH VERIFIED
ANSWERS.
1. The Board of directors receives its authority to perform its
specific duties through the:
A. Community charter
B. Governing Documents
C. Board resolutions
D. Board member job descriptions - correct answer-B
2. In preparing the associations annual financial report, many
governing documents specify:
A. Retaining a independent tax specialist.
B. Retaining an independent certified public accountant.
C. The establishment of a finance committee
D. The use of he management company's accountant -
correct answer-B
3. Which of the following is within the authority of the Board of
Directors?
A. Creating By-laws
B. Being paid for their service
C. Establishing programs
D. Amending the declaration - correct answer-C
, 4. In the hierarchy of a community associations governing
documents , which of the following is the highest authority?
A. Bylaws
B. Articles of Incorporation
C. Declaration
D. Mortgage lender requirements - correct answer-C
5. When a dispute is mediated, an uninvolved third party
facilitates discussion and:
A. Makes the final judgement fr both parties
B. Presents a decision which the parties are free to
reject
6. C.Assist both parties in reaching a mutually acceptable
agreement
7. D. Decision is binding upon both parties - correct answer-C
8. You have a proprietary lease in XYZ development. Which of
the following best describes your interest in the property?
A. A time-share interest
B. A divided interest
C. An undivided interest
D. Stock membership - correct answer-D
ACTUAL QUESTIONS WITH VERIFIED
ANSWERS.
1. The Board of directors receives its authority to perform its
specific duties through the:
A. Community charter
B. Governing Documents
C. Board resolutions
D. Board member job descriptions - correct answer-B
2. In preparing the associations annual financial report, many
governing documents specify:
A. Retaining a independent tax specialist.
B. Retaining an independent certified public accountant.
C. The establishment of a finance committee
D. The use of he management company's accountant -
correct answer-B
3. Which of the following is within the authority of the Board of
Directors?
A. Creating By-laws
B. Being paid for their service
C. Establishing programs
D. Amending the declaration - correct answer-C
, 4. In the hierarchy of a community associations governing
documents , which of the following is the highest authority?
A. Bylaws
B. Articles of Incorporation
C. Declaration
D. Mortgage lender requirements - correct answer-C
5. When a dispute is mediated, an uninvolved third party
facilitates discussion and:
A. Makes the final judgement fr both parties
B. Presents a decision which the parties are free to
reject
6. C.Assist both parties in reaching a mutually acceptable
agreement
7. D. Decision is binding upon both parties - correct answer-C
8. You have a proprietary lease in XYZ development. Which of
the following best describes your interest in the property?
A. A time-share interest
B. A divided interest
C. An undivided interest
D. Stock membership - correct answer-D
