CMCA Practice Exam

Who has the ultimate responsibility for the care and maintenance of the common areas, facilities, and physical property?

When an association contracts out all of its services and has no employees, it is a best business practice to:

Which of the following is an example of an association control system?

Where would a manager find guidelines regarding the association's responsibility for maintaining the physical assets?

Which of the following is within the authority of the Board of Directors?

To provide for payment of the insurance deductible you would:

What is the primary source of requirements when developing the association's annual maintenance budget?

Which type of maintenance should be managed with a routine maintenance contract?

Preparing a bid request includes which of the following?

What is the purpose of a Management Letter?

To which documents should you refer for the difference between actual and budget figures for a revenue account

Which accounting practice is the assoc using when the financial reports show income when received & expenses when paid

The purpose of a personnel manual or employee handbook is to:

In the hierarchy of a community association's governing documents, which of the following is the highest authority?

A work order:

If the governing documents and laws present conflicting notice periods, follow:

Why are special membership meetings held?

To determine which physical assets must be maintained by the association, the manager should:

Which of the following is a common management control for ensuring maintenance work is performed in a timely manner?

2 essential financial documents the board should use to determine the amnt of funds available for an unbudgeted expense?

In terms of compensation, a contract should state:

A significant decline in the amount of investments is most likely the result of:

Board meeting minutes should include which of the following:

Which of the following is a duty of a manager attending a board meeting?

The interim financial report should, at a minimum, include a:

The Board of Directors receives its authority to perform its specific duties through the:

A component of building ordinance insurance coverage includes:

Management conducts its tasks for the day to day operation of the association in accordance with the:

A board exercises its fiduciary responsibility by:

Executive sessions should typically be used for discussing which of the following issues:

What "duty" do the Board members and the manager have to the members?

D & O liability insurance is designed to cover claims resulting from:

Liability claims should be sent to the insurer:

In older condominiums, an association should have what type of contract covering mechanical equipment?

Community association managers must be familar with Federal income tax requirements and options because:

Assoc completed the 8th month of its fiscal year. Which financial report would be used to project year end expenses?

If an owner fails to receive notice of a meeting, the association is not responsible if the owner:

When staff members help to develop policies and procedures, they are more:

If a proxy vote needs to be approved, the best option for an approver would be:

What does "Co-Insurance" obligate the Association to do?

What section of an insurance policy describes the coverage limits, deductibles, policy period and premium?

When the board reviews the proposed budget for approval, what should it consider?

Alternative dispute resolution includes which of the following methods?

In an initial letter to an owner who has violated one of the association's rules, which of the following is included?

Which of the following has the greatest regulatory influence on the management of a community association?

When monitoring maintenance of an assoc's pool, what should be entered into a permanent log at regular intervals?

In what type of a contract would a waiver of lien be recommended?

Which tool is most effective for defining the employee's duties?

The best reasoning for recommending the modified accrual accounting method is that, compared to cash accounting, it:

Which method is the best alternative to increasing assessments?

When a dispute is mediated, an uninvolved third party facilitates discussion and:

A primary management control for identifying whether the association needs to maintain a particular property element is:

Which of the following types of insurance coverage is one of limited value to a commuity association?

You have a proprietary lease in XYZ development. Which of the following best describes your interest in the property?

Legal review prior to executing a contract will assist the association in the event that:

For which project would a board most likely want to use a consultant to help develop bid specifications?

Best way to communicate mgmt's expectations for employee to complete regular & special tasks during a given time period?

The primary purpose of a community association is to:

Discipline as a part of the HR managment can include:

In preparing the association's annual financial report, many governing documents specify:

Employment contracts need NOT include:

Rather than describing the scope of work in detail in the contract, a manager may:

When developing a rule, it must be consistent with:

Which of the following would impact the operation of a newly installed entry control system?

The manager is not usually responsible for preparing the: