M100 Exam/157 Questions with correct
Answers/ Graded A+
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
-Occupy Safety Health Act - -Outlines safety guidelines for employees
-FCC - -Federal Communications Commission
, -Federal Communications Commission - -Regulates what restrictions associations have
on antennas and satellite dishes
-State statues - -General, specific, uniform
-General state statutes - -Apply to all organizations
-Specific state statutes - -Apply to only one or more types of community associations
-Uniform state statutes - -Standardize laws in various states that affect community
associations
-Hierarchy of governing documents - -Plat
Declarations
Articles
Bylaws
Rules
-Bundle of rights - -Declaration, CCR, master deed
-What trumps articles? - -Declaration
-Plat/map - -Shows precise location of each lot or unit
-Declaration, CCRS, master deed - -Establish the chain of title and rights of ownership
for each piece of real estate
-Proprietary lease - -Defines member or stockholders right and obligations in a relative
to the living unit
-Articles of incorporation - -Documents that establish the corporation
-Bylaws - -Formally adopted regulations for the administrative and management of a
community association
-Resolution - -Motion that follow a swell format and is formally adopted by the BOD
-public offering statement - -Disclosure statement- not apart of the governing
documents
-Benefits of incorporating - -Limits liability
Makes it easier to deal with contractors
-Scope of Rules and ARCH guidelines - -Behavior of residents, guests and visitors
Appearance of individual lots/units
Use of common property
Use of individual lots/units
Answers/ Graded A+
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
-Occupy Safety Health Act - -Outlines safety guidelines for employees
-FCC - -Federal Communications Commission
, -Federal Communications Commission - -Regulates what restrictions associations have
on antennas and satellite dishes
-State statues - -General, specific, uniform
-General state statutes - -Apply to all organizations
-Specific state statutes - -Apply to only one or more types of community associations
-Uniform state statutes - -Standardize laws in various states that affect community
associations
-Hierarchy of governing documents - -Plat
Declarations
Articles
Bylaws
Rules
-Bundle of rights - -Declaration, CCR, master deed
-What trumps articles? - -Declaration
-Plat/map - -Shows precise location of each lot or unit
-Declaration, CCRS, master deed - -Establish the chain of title and rights of ownership
for each piece of real estate
-Proprietary lease - -Defines member or stockholders right and obligations in a relative
to the living unit
-Articles of incorporation - -Documents that establish the corporation
-Bylaws - -Formally adopted regulations for the administrative and management of a
community association
-Resolution - -Motion that follow a swell format and is formally adopted by the BOD
-public offering statement - -Disclosure statement- not apart of the governing
documents
-Benefits of incorporating - -Limits liability
Makes it easier to deal with contractors
-Scope of Rules and ARCH guidelines - -Behavior of residents, guests and visitors
Appearance of individual lots/units
Use of common property
Use of individual lots/units
