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CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS)
AGRADE COMPLETE
Why are special membership meetings held? - ANSWER>>To conduct specific business Executive sessions should typically be used for discussing which of the following? - ANSWER>>Member delinquency Which of the following is a duty of a manager attending a board meeting? - ANSWER>>Be the time keeper If the governing documents and laws present conflicting notice periods, follow: - ANSWER>>State laws.If an owner fails to receive notice of a meeting, the association is not responsible if the owner: - ANSWER>>Did not notify the association of their current address.Board meeting minutes should include which of the following: - ANSWER>>Exact wording of each motion.If a proxy vote needs to be approved, the best option for an approver would be: - ANSWER>>The secretary.Where would a manager find guidelines regarding the association's responsibility for maintaining physical assets? - ANSWER>>Board resolutions.The primary management control tool for identifying whether the association needs to maintain a particular property element is: - ANSWER>>Maintenance responsibility chart.To determine which physical assets must be maintained by the association, the manager should: - ANSWER>>Review the association governing documents. 1 / 4
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2 Which of the following is a common management control for ensuring maintenance work is performed in a timely manner? - ANSWER>>A work order/response form.When monitoring maintenance of an association's swimming pool, which of the following should be entered into a permanent log at regular intervals? - ANSWER>>Chlorine level readings.Which of the following is an example of an association control system? - ANSWER>>Frequent neighborhood inspections.
A work order: - ANSWER>>Assigns maintenance tasks.
Which type of maintenance should be managed with a routine maintenance contract? - ANSWER>>Cutting the grass Which method is the best alternative to increasing assessments? - ANSWER>>Increasing income by charging higher user fees.When the Board reviews the proposed budget for approval, what should it consider? - ANSWER>>The financial position of the association.What is the primary source of requirements when developing the association's annual maintenance budget? - ANSWER>>Governing documents.When an association contracts out all of its service and has no employees, it is a best business
practice to: - ANSWER>>Negotiate contracts within the bidding process.
Directors and officers liability insurance is designed to cover claims resulting from: - ANSWER>>Wrongful acts of employees of the association.A component of building ordinance insurance coverage includes: - ANSWER>>Extra demolition.Which of the following types of insurance coverage is one of limited value to a community association? - ANSWER>>Assessment fee receivable. 2 / 4
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3 What section of an insurance policy describes the coverage limits, deductibles, policy period, and premium? - ANSWER>>Declaration page(s).To provide for payment of the insurance deductible, you would: - ANSWER>>Allow for costs in the operating budget.Liability claims should be sent to the insurer: - ANSWER>>Without admitting negligence.What does "Co-Insurance" obligate the Association to do? - ANSWER>>Maintain certain limits of insurance.Legal review prior to executing a contract will assist the association in the event that: - ANSWER>>The board has questions or concerns.In older condominiums, an association should have what type of contract covering mechanical equipment? - ANSWER>>Preventive maintenance.Rather than describing the scope of work in detail in the contract, a manager may: - ANSWER>>Attach bid specifications.Alternative dispute resolution includes which of the following methods? - ANSWER>>Mediation.
Employment contracts need not include: - ANSWER>>Interests.
In terms of compensation, a contract should state: - ANSWER>>When and on what terms payments) will be made.Preparing a bid request includes which of the following? - ANSWER>>Identifying potential contractors.For which project would a board most likely want to use a consultant to help develop bid specifications? - ANSWER>>Repairing and/or replacing all roofs. 3 / 4
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4 In what type of a contract would a waiver of lien be recommended? - ANSWER>>Re-roofing the buildings.When a dispute is mediated, an uninvolved third party facilitates discussion and: - ANSWER>>Assists both parties in reaching a mutually acceptable agreement.You have a proprietary lease in XYZ development. Which of the following best describes your interest in the property? - ANSWER>>Stock membership.Management conducts its tasks for the day to day operation of the association in accordance
with the: - ANSWER>>Contract.
The Board of Directors receives its authority to perform its specific duties through the: - ANSWER>>Governing documents.Which of the following is within the authority of the Board of Directors? - ANSWER>>Establishing programs.In preparing the association's annual financial report, many governing documents specify: - ANSWER>>Retaining an independent certified public accountant.In an initial letter you send to an owner who has violated one of the association's adopted rules, which of the following is included? - ANSWER>>The offer to meet to hear the owner's viewpoint.In the hierarchy of a community association's governing documents, which of the following is the highest authority? - ANSWER>>Declaration.When developing a rule, it must be consistent with: - ANSWER>>Applicable statutes and governing documents.A board exercises its fiduciary responsibility by: - ANSWER>>Establishing internal controls.
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