M100 QUIZ (all sections) Community Association Management Q&A Verified Solutions

M100 QUIZ (all sections) Community Association Management Q&A Verified Solutions Each of the following are key characteristics of a community association EXCEPT: A. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. B. Membership in the ca is mandatory and automatic for all owners. C. A requirement of ca ownership is attending board meetings D. Certain documents bind all owners to be governed by the community. - CORRECT ANSWER-C. A requirement of community association ownership is attending board meetings. True or False. The primary purpose of a community association is to provide for the governance, business, and communal aspects of the association. - CORRECT ANSWER-True Each of the following are basic types of residential community associations EXCEPT: a. Planned community b. Townhouse c. Cooperative d. Condominium - CORRECT ANSWER-b. Townhouse Adoption of the annual budget is an example of which of the following type of resolution? a. policy resolution b. administrative resolution c. special resolution d. general resolution - CORRECT ANSWER-D. General True or false. The purpose of a community association's governing documents is to provide for the legal structure and operation of the community. - CORRECT ANSWERTrue True or false. According to the general hierarchy of authority for governing documents, the bylaws would control in a conflict with the recorded map, plat, or plan. - CORRECT ANSWER-False Complete the following sentence: A __________ state statute is one that applies only to one or more types of community associations. a. general b. complex