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M100 Community Association Management, Exam Questions with correct Answers Latest 2024/2025 (Graded A+) Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of direc...

M100-Community Association Management Study Guide 2024 Updates Community Association - CORRECT ANSWER-a legal entity in which the owners enjoy the PROTECTION, ENHANCEMENT, MAINTENANCE and PRESERVATION of their homes and property. 3 Defining Characteristics of a Community Association - CORRECT ANSWER-1. Membership in the community is MANDATORY and automatic for all owners. 2. Certain association governing documents bind the owners and the association to each other through mandated ac...

Pact de non Alienando - ANSWER-Clause contained in the mortgage or other encumbrance agreement whereby the obligor agrees not to sell, engage, alienate or mortgage the same property to other persons to the prejudice of the mortgage Corporate Resolution - ANSWER-An official written certificate of the corporations secretary that the resolution was adopted by the corporations board of directors Confession of Judgment - ANSWER-A person's agreement in a mortgage to the entry of judgment if he ...

When does oregon's property tax year begin? - ANSWER-July 1st and ends on june 30th of the next year What lender would be the least likely to approve a short sale? - ANSWER-junior lenders b/c they are in a secondary position when it comes to liens against the property and realize there may not be any money left to pay them after the lender in first position gets paid what is true about the assessed value of oregon real estate - ANSWER-It's the value used to calculate the property tax...

M-100 QUIZ (ALL SECTIONS) WITH COMPLETE SOLUTIONS 100% Each of the following are key characteristics of a community association EXCEPT: A. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. B. Membership in the ca is mandatory and automatic for all owners. C. A requirement of ca ownership is attending board meetings D. Certain documents bind all owners to be governed by the community. C. A requirement of...

M-100 The Essentials of Community Association Management (Cert Exam) Latest Characteristics of a Community Association - CORRECT ANSWER-Mandatory membership Mutually binding documents Lien-based assessments Purposes of a Community Association - CORRECT ANSWER-Business - Not for profit Government - Runs like a mini-government Community - Mutual reasons for buying into area 3 Basic Types of Community Associations - CORRECT ANSWER-Planned Community - Owners owns his lot/living unit an...

CAI Exam Flashcards questions and answers well illustrated. Community Association - correct answer. legal entity in which the owners enjoy the protection, enhancement, maintenance and preservation of their homes and property. What're the three defining characteristics of community associations? - correct answer. 1. Membership in the community association is mandatory and automatic for all owners 2. Certain association governing documents bind the owner and the association...

M100 COMMUNITY ASSOCIATION MANAGEMENT WITH COMPLETE SOLUTIONS 100% Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of directors. d. Certain documents bind all o...

M-100 QUIZ (all sections) Exam Questions With 100% Correct Answers Each of the following are key characteristics of a community association EXCEPT: A. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. B. Membership in the ca is mandatory and automatic for all owners. C. A requirement of ca ownership is attending board meetings D. Certain documents bind all owners to be governed by the community. - ans...

**M-100 Quiz (All Sections) with Complete Solutions** **Question 1:** Which of the following is NOT a key characteristic of a community association? A. Economic charges or assessments are mandatory and lien-based for operational and maintenance purposes. B. Membership is automatically and mandatorily granted to all property owners. C. Ownership in the association requires attendance at board meetings. D. Certain documents legally bind all owners to be governed by the community rules. ...