1
, M100 COMMUNITY ASSOCIATION MANAGEMENT
EXAM NEWEST 2026 ACTUAL EXAM TEST BANK|
COMPLETE 400 REAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A+ (MOST RECENT!!)
Q1. What are the three key characteristics common to all
community associations?
A) Mandatory membership, architectural review, and reserve
funding
B) Mandatory membership, lien-based assessments, and binding
governing documents
C) Developer control, elected board, and annual meetings
D) Common areas, homeowner insurance, and volunteer board
Correct Answer: B
Rationale: This is correct because the three key characteristics
common to all community associations are: (1) mandatory
membership for all owners, (2) mandatory lien-based economic
charges (assessments) levied on each owner, and (3) binding
governing documents that establish a system of property rights,
covenants, and restrictions .
2
,Q2. True or False: The primary purpose of a community
association is to provide for the governance, business, and
communal aspects of the association.
A) True
B) False
Correct Answer: A
Rationale: This is correct because the primary purpose is to
provide for the governance, business, and communal aspects of
the association. This is achieved by administering, maintaining,
and enhancing a residential real estate development, and
through the establishment of a system of property rights, binding
covenants and restrictions, and rules and regulations .
Q3. Which of the following is NOT a basic type of residential
community association?
A) Planned community
B) Townhouse
C) Cooperative
D) Condominium
Correct Answer: B
Rationale: This is correct because a community association is
defined in terms of ownership rights, not architectural style.
3
, While many townhouse communities have associations, not all do.
The three basic types are planned communities (HOAs),
condominiums, and cooperatives .
Q4. What document brings the community association into
existence as a legal entity?
A) Recorded map, plat, or plan
B) Declaration, CC&Rs, or master deed
C) Articles of incorporation
D) Proprietary lease or occupancy agreement
Correct Answer: C
Rationale: This is correct because the articles of incorporation
(sometimes called a corporate charter) bring the community
association into existence as a legal corporation, define its basic
purposes and powers, and indicate whether stock will be issued.
The declaration or CC&Rs establish property use restrictions .
Q5. According to the general hierarchy of authority for
governing documents, which document would prevail in a
conflict with the bylaws?
A) Rules and regulations
B) Articles of incorporation
4
, M100 COMMUNITY ASSOCIATION MANAGEMENT
EXAM NEWEST 2026 ACTUAL EXAM TEST BANK|
COMPLETE 400 REAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A+ (MOST RECENT!!)
Q1. What are the three key characteristics common to all
community associations?
A) Mandatory membership, architectural review, and reserve
funding
B) Mandatory membership, lien-based assessments, and binding
governing documents
C) Developer control, elected board, and annual meetings
D) Common areas, homeowner insurance, and volunteer board
Correct Answer: B
Rationale: This is correct because the three key characteristics
common to all community associations are: (1) mandatory
membership for all owners, (2) mandatory lien-based economic
charges (assessments) levied on each owner, and (3) binding
governing documents that establish a system of property rights,
covenants, and restrictions .
2
,Q2. True or False: The primary purpose of a community
association is to provide for the governance, business, and
communal aspects of the association.
A) True
B) False
Correct Answer: A
Rationale: This is correct because the primary purpose is to
provide for the governance, business, and communal aspects of
the association. This is achieved by administering, maintaining,
and enhancing a residential real estate development, and
through the establishment of a system of property rights, binding
covenants and restrictions, and rules and regulations .
Q3. Which of the following is NOT a basic type of residential
community association?
A) Planned community
B) Townhouse
C) Cooperative
D) Condominium
Correct Answer: B
Rationale: This is correct because a community association is
defined in terms of ownership rights, not architectural style.
3
, While many townhouse communities have associations, not all do.
The three basic types are planned communities (HOAs),
condominiums, and cooperatives .
Q4. What document brings the community association into
existence as a legal entity?
A) Recorded map, plat, or plan
B) Declaration, CC&Rs, or master deed
C) Articles of incorporation
D) Proprietary lease or occupancy agreement
Correct Answer: C
Rationale: This is correct because the articles of incorporation
(sometimes called a corporate charter) bring the community
association into existence as a legal corporation, define its basic
purposes and powers, and indicate whether stock will be issued.
The declaration or CC&Rs establish property use restrictions .
Q5. According to the general hierarchy of authority for
governing documents, which document would prevail in a
conflict with the bylaws?
A) Rules and regulations
B) Articles of incorporation
4
