M-100 The Essentials of Community Association
Management Exam study guide COMPLETE
EXAM Questions and Answers (Verified Answers)
(Latest Update 2026) UPDATE!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Provide legal structure and operation of a community association.
Choose an answer
Characteristics of a Community
1 2 Board Resolutions
Association
Name the sources of legal
Purpose of Community Association
3 obligations for a Community 4
Governing Documents
Association
Don't know?
, Terms in this set (47)
Characteristics of a Community Mandatory membership
Association Mutually binding documents
Lien-based assessments
Purposes of a Community Business - Not for profit
Association Government - Runs like a mini-government
Community - Mutual reasons for buying into area
3 Basic Types of Community Planned Community - Owners owns his lot/living
Associations unit and community owns common areas (tennis
courts, basketball courts, etc.).
Condominium - Individual owns unit and undivided
interest (percentage) in common elements.
Cooperative - Individual owns stock or
membership in cooperative and holds a
proprietary lease/occupancy agreement.
Community associations can be Master or Umbrella Associations - More than one
grouped into clusters called: residential community.
Mixed-Use Development - Mixture of residential
and commercial.
"55 and Older" Communities - 80% of residents are
55+ and at least one per unit.
Name the sources of legal Federal, state and local statutes, regulations and
obligations for a Community case law.
Association Governing documents
Standards set by professional bodies (AICPA)
Lender requirements
Management Exam study guide COMPLETE
EXAM Questions and Answers (Verified Answers)
(Latest Update 2026) UPDATE!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Provide legal structure and operation of a community association.
Choose an answer
Characteristics of a Community
1 2 Board Resolutions
Association
Name the sources of legal
Purpose of Community Association
3 obligations for a Community 4
Governing Documents
Association
Don't know?
, Terms in this set (47)
Characteristics of a Community Mandatory membership
Association Mutually binding documents
Lien-based assessments
Purposes of a Community Business - Not for profit
Association Government - Runs like a mini-government
Community - Mutual reasons for buying into area
3 Basic Types of Community Planned Community - Owners owns his lot/living
Associations unit and community owns common areas (tennis
courts, basketball courts, etc.).
Condominium - Individual owns unit and undivided
interest (percentage) in common elements.
Cooperative - Individual owns stock or
membership in cooperative and holds a
proprietary lease/occupancy agreement.
Community associations can be Master or Umbrella Associations - More than one
grouped into clusters called: residential community.
Mixed-Use Development - Mixture of residential
and commercial.
"55 and Older" Communities - 80% of residents are
55+ and at least one per unit.
Name the sources of legal Federal, state and local statutes, regulations and
obligations for a Community case law.
Association Governing documents
Standards set by professional bodies (AICPA)
Lender requirements
