CMCA PRACTICE EXAM |
QUESTIONS AND CORRECT
ANSWERS RATED A+ | 2024/2025
What is the primary source of requirements when developing
the associations annual maintenance budget?
- correct answer - governing documents
When the board reviews the proposed budget for approval,
what should it consider?
- correct answer - the financial position of the association
What method is the best alternative to increasing association
assessments?
- correct answer - increasing income by charging higher user
fees
Why are special meetings held?
- correct answer - to conduct specific business
If an owner fails to receive notice of a meeting, the association
is not responsible if the owner:
, - correct answer - did not notify the association of their current
address
If the governing docs and laws present conflicting notice
periods, follow:
- correct answer - state laws
If a proxy vote needs to be approved, the best option for an
approver would be:
- correct answer - the secretary
Board meeting minutes should include:
- correct answer - exact wording of each motion
What is a duty of a manager attending a board meeting?
- correct answer - be the time keeper
Executive sessions should be used for discussing what?
- correct answer - members delinquency
What are the two essential financial documents the bod should
use to determine the amount of funds available for an
unbudgeted expense? - correct answer - balance sheet and
statement of revenue and expense
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