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M-100 Exam Questions and Correct Answers Updated 2024.
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M-100 Exam Questions and Correct Answers Updated 2024.
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1M-100 Exam Questions and Correct Answers Updated 2024
Community Association - Correct Answer-Mandatory
memberships, mutually binding contracts, lien-based
assements
Purpose of community association - Correct Answer-Provide
for the community, business, and governance aspects of the
association
Basic types of community association - Correct Answer-
Planned communities, condominium, and cooperatives
Planned community - Correct Answer-HOA, owner association
Condominium - Correct Answer-Owner of his/her unit
Cooperative - Correct Answer-Owns stock/holds lease
Types of community associations - Correct Answer-
Master/umbrella,
Mixed use development, 55 and older
pg. 1
,2
Association derives legal obligation from - Correct Answer-
Federal, state and local laws- legal documents, lender
requirements, standards set by professional bodies
EEOC - Correct Answer-Equal employment opportunity
commission
Equal employment opportunity commission - Correct Answer-
Prohibits discrimination in hiring, promoting, etc.
FLSA - Correct Answer-Fair Labor Standards Act
Fair Labor Standards Act - Correct Answer-Dictates standards
for minimum wage
FMLA - Correct Answer-Family Medical Leave Act
Family Medical Leave Act - Correct Answer-Provides for
unpaid leave for various medical issues
FICA - Correct Answer-Federal Insurance Contributions Act
pg. 2
, 3
OSHA - Correct Answer-Occupy Safety Health Act
Occupy Safety Health Act - Correct Answer-Outlines safety
guidelines for employees
FCC - Correct Answer-Federal Communications Commission
Federal Communications Commission - Correct Answer-
Regulates what restrictions associations have on antennas
and satellite dishes
State statues - Correct Answer-General, specific, uniform
General state statutes - Correct Answer-Apply to all
organizations
Specific state statutes - Correct Answer-Apply to only one or
more types of community associations
Uniform state statutes - Correct Answer-Standardize laws in
various states that affect community associations
pg. 3
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