M-100 Community Association Management exam 2024 with 100% complete solutions

Community Association correct answersis a legal entity in which the owners enjoy the protection enhancement maintenance and preservation of their homes and property What are the three characteristics of a Community Association correct answersMandatory Membership mutually binding documents lien based assesments Is membership in the community association is? correct answersMandatory and automatic for all its owners. Why are mandatory lien based assessments (maintenance fees) levied on each owner correct answersIn owner in order to operate and maintain the community association What is the primary purpose of a community association correct answersTo provide for the community, business, and governance aspects of the association. What are the three basic types of Community Associations correct answersPlanned Community Condominium Coopperative The National Conference of Commissioners on Uniform State Laws uses the term _______________ to refer to the most common type of community association. correct answersPlanned Community In a planned community correct answersOwner owns his or her lot/living unit and the community owns any common areas such as tennis courts and roads for the use and benefit of the lot owners.