Exam (elaborations)
CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE
- Course
- Institution
CMCA EXAM 2023 REAL EXAM 170 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)|AGRADE
[Show more]
3 reviews
By: joewayneray • 1 week ago
By: uepwyzwu07 • 5 months ago
By: vazguz • 1 year ago
Content preview
CMCA EXAM 2023 REAL EXAM 17 0 QUESTIONS AND CORRECT ANSWERS( VERIFIED ANSWERS )|AGRADE Why are special membership meetings held? - ANSWER - To conduct specific business Executive sessions should typically be used for discussing which of the following issues: - ANSWER - Member's delinquency Which of the fo llowing 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 associatio n 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 opti on 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 wheth er 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 doc uments. 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 shoul d 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 mainten ance 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. 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 insura nce 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 limi ts 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 payment(s) wil l 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. 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 acce ptable agreement .The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller johnkabiru. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73918 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now