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M-100 The Essentials of Community Association Management Exam Review with Correct Answers | Latest 2024/2025 -Graded A. $10.99   Add to cart

Exam (elaborations)

M-100 The Essentials of Community Association Management Exam Review with Correct Answers | Latest 2024/2025 -Graded A.

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  • Course
  • M-100
  • Institution
  • M-100

Name the sources of legal obligations for a Community Association Federal, state and local statutes, regulations and case law. Governing documents Standards set by professional bodies (AICPA) Lender requirements Budgeting Methods Zero-Based - all line items are set to zero. Historical ...

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  • November 13, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • m 100
  • m100
  • M-100
  • M-100
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AcademiaExpert
M-100 The Essentials of Community Association
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Management Exam Review with Correct Answers i.- i.- i.- i.- i.- i.-




| Graded A.
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Name the sources of legal obligations for a Community Association
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Federal, state and local statutes, regulations and case law.
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Governing documents i.-




Standards set by professional bodies (AICPA) i.- i.- i.- i.- i.-




Lender requirementsi.-




Budgeting Methods i.- i.-i.- i.- Zero-Based - all line items are set to zero. i.- i.- i.- i.- i.- i.- i.- i.-




Historical trend - Item assumed to be justified and prior information
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adjusted for planned changes. i.- i.- i.-




Criteria for Valid Rules
i.- i.- i.- i.-i.- i.- Must not violate constitutional rights.
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Must be consistent with laws, statutes, governing docs.
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Must reasonably relate to purpose of community.
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Must be reasonable and fair.
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Must be capable of uniform enforcement.
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Must be necessary.
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, Resolution Format i.- i.-i.- i.- Purpose
Authority
Scope & Intent i.- i.-




Specifications


Due Process Procedure
i.- i.- i.-i.- i.- A formal process to protect the rights of all
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parties.


Types of Federal Law Applying to Community Associations
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Employment Opportunity Commission i.- i.-




Fair Debt Collection Practices Act
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Fair Labor and Standards Act
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Family and Medical Leave Act
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FICA
OSHA
Bankruptcy Code i.-




FCC
Fair Housing Act
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Types of State Statutes Applying to Community Associations
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General - Applies to all types of associations
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Specifics - Applies to only one type of association (takes precedence
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over any general statutes and governing documents.
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